Cross Ocean Partners and Lincoln Acquire ‘The Colonnade’ in Addison, Launching a $100M Repositioning Program

ADDISON, Texas - November 3, 2026 -Cross Ocean Partners ("Cross Ocean"), a global asset management platform focused on special situations, credit and hard asset investments, and Lincoln have officially acquired The Colonnade, a three-tower, 1.08 million-square-foot office campus on 12.48 acres along the Dallas North Tollway between Belt Line Road and Arapaho Road. The joint venture is committing $100 million to reposition the iconic asset into the market's premier commercial hub.

"Lincoln and Cross Ocean are stepping in as hands-on, first-class operators committed to giving this asset the dedicated attention, energy and capital it deserves," said Chase Prospere, Senior Vice President at Lincoln. "We are executing a vision that will elevate the day-to-day tenant experience and solidify The Colonnade as one of the most sought-after office campuses in the submarket."

Terence Kim, Managing Director, US Credit at Cross Ocean Partners said, "The Colonnade combines an established location along the Lower Tollway with the scale and flexibility to accommodate major corporate occupiers. Our investment will support existing tenants and provide the improvements and leasing capital needed to attract new companies to the campus."

The Colonnade's prominent Lower Tollway location offers high-visibility signage, convenient regional access and proximity to Dallas' most desirable residential neighborhoods. Tenants also benefit from nearby shopping and dining, including Addison's renowned "Restaurant Row" on Belt Line Road.

The partnership plans to enhance the campus's existing fitness center, conference facilities and glass atrium lounge with new amenities that promote community, wellness and productivity. New offerings will include an artisan coffee shop, tenant lounges, outdoor gathering spaces, a pickleball court, an indoor golf simulator and expanded dining options.

In addition to its lifestyle upgrades, The Colonnade offers two of the largest contiguous blocks of available office space along the entire Lower Tollway, presenting a rare opportunity for corporate headquarters and large-scale enterprise tenants to secure high-quality space with flexible floorplates, excellent views and prominent branding opportunities.

To help bring this vision to life, Lincoln and Cross Ocean Partners are working with the Town of Addison to support these improvements through the Town's Office Amenity Grant Program, an economic development initiative that encourages reinvestment in existing office properties. The Town views partnerships with property owners as central to its economic development strategy, building on Addison's premier location with modernized office space and high-quality amenities that help companies attract talent and thrive.

Initial property improvements are underway, with the first phase of upgrades expected to be delivered through 2027. Lincoln will provide leasing and management for the project and Jake Young, Christian Munoz and Hudson Dozier will lease the property.

"The Colonnade has always possessed an incredible location, seamless access and the best architectural bones, but many prospective tenants were hesitant to commit without a true Class-A sponsorship in place," said Jake Young, Senior Vice President at Lincoln. "Market confidence is being fully restored, as evident by the groups that have already engaged with us around this comprehensive repositioning and amenity overhaul, and we couldn't be more excited about our business plan and the current market demand."

The Colonnade marks Cross Ocean's ninth U.S. office acquisition since 2024, bringing the firm's total U.S. office footprint acquired over that period to approximately 5.6 million square feet. The transaction reflects the firm's selective approach to office investing, targeting well-located properties at attractive entry pricing where committed capital and experienced operating partners can support long-term value creation.

About Cross Ocean Partners
Cross Ocean Partners Management LP (together with its affiliates, including Cross Ocean Adviser LLP, collectively referred to as "Cross Ocean") is a global asset manager with approximately $12.2 billion of assets under management and 90+ employees across its offices in Greenwich, Connecticut, London and Dublin. Cross Ocean is led by Graham Goldsmith, CEO and co-CIO, and Steve Zander, Head of Europe and co-CIO. It invests globally in a broad range of asset classes including real estate. For more information, visit: https://www.crossoceanpartners.com/.

About Lincoln Property Company
Lincoln Property Company ("Lincoln") is one of the largest private real estate firms in the United States. Offering a fully integrated platform of real estate services and innovative solutions to owners, investors, lenders and occupiers, Lincoln supports the entire real estate lifecycle across asset types, including office, multifamily, life science, retail, industrial, data center, production studio, healthcare, government, universities, sports and entertainment, and mixed-use properties, throughout the United States, United Kingdom, and Europe. Lincoln's combined management and leasing portfolio on behalf of institutional clients includes more than 720 million square feet of commercial space. For more information, visit: www.lpc.com

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