Dottid Announces Strategic Partnership With Lincoln Property Company
Dottid, the commercial real estate (CRE) SaaS technology platform for asset management and leasing transactions, announced today its strategic partnership with Lincoln Property Company (LPC), an international real estate firm, development company, owner, and brokerage that offers a comprehensive suite of value-added services to clients across the commercial and residential landscapes. This exciting collaboration closely follows Dottid’s recent announcement of its integration with Altus Group Limit’s ARGUS® Cloud platforms, which will fundamentally transform property valuation and digital asset management in the commercial sector by providing on-demand real-time asset valuations. LPC also led Dottid’s latest funding round of $4.5 million which ended in December.
Founded in January 2020, Dottid is the first centralized platform through which owners, brokers and tenants of office, industrial and retail properties can gain key insights into their properties and track every movement of a leasing transaction. These can include upcoming lease expirations, deal activity, vacant suites and several other variables that empower owners through facilitating both asset and leasing management. By providing actionable information in a transparent and accessible way, Dottid has become increasingly popular among users aiming to gain an edge in a volatile and highly competitive market.
"After our first meeting with the Dottid team and getting an inside look at their platform, we knew they were approaching the market with something different than what already existed to serve Asset Managers & Leasing Teams,” explained Vince Cicciarelli, Vice President at LPC Ventures. “They've truly taken a user-centric approach to streamlining the leasing lifecycle by offering what is most important and cutting out the rest. We are excited to welcome them into our portfolio and look forward to the partnership."
Dottid’s model makes the platform a uniquely complementary addition to LPC’s expansive portfolio. LPC’s services began including commercial real estate shortly after the company was founded in 1965 and quickly began attracting the attention of owners and investors. Like Dottid, LPC prides itself on providing value to its users through each step of the leasing transaction process, and combined with Dottid’s intuitive user interface, customizability and personalization options, both services are poised to tremendously augment the possibilities of lease management workflow.
"Dottid's mission is to be the operating platform for commercial real estate owners, globally, and this starts by making the leasing and asset management process as simple and efficient as possible,” said Kyle Waldrep, Founder and CEO, Dottid. “LPC's recognition of Dottid's progress and incredible potential is an affirming and humbling step toward accomplishing our mission. LPC has been a leader in commercial real estate for decades, establishing itself as a seasoned venture investor and go-to owner, developer, and services provider. Dottid is excited to partner with this industry leader and join its robust portfolio of venture investments."
This investment accelerates Dottid’s national rollout and will include expansion into numerous LPC assets in cities such as Dallas, Los Angeles, Boston and Washington D.C., and will include owned and brokerage assets that will further strengthen LPC’s portfolio in the office, industrial and retail sectors.
“We are excited to welcome Dottid into our venture portfolio and to start utilizing them as a critical tool for our asset management and leasing strategies, said David Binswanger, Senior Executive Vice President, LPC. “Through its intuitive interface, the Dottid leadership team truly understands how to add value through the entire life cycle of a transaction, creating the necessary transparency and collaboration needed for all stakeholders involved."
Founded in 2018 and headquartered in Dallas, Texas, Dottid provides a digital process management solution that drives commercial real estate leasing transactions designed by and for CRE professionals. Dottid aims to revolutionize the CRE industry through the use of technology and streamlining the leasing transaction process, allowing owners, brokers, and tenants to close more deals faster and with lower costs, ultimately creating a better customer experience for the tenant.
About Lincoln Property Company
Lincoln Property Company was founded in 1965 as a developer and manager of high-quality residential communities. Over the next few years, we expanded our line of products and services to include commercial real estate. Our international reputation for successful management of our own properties quickly attracted a large client base of owners and investors who recognized the value that we could provide in development, property management, brokerage, investing, advisory, construction management, engineering and all real estate consulting services.