Lincoln Military Housing Forms Largest Property Management ESOP in the U.S. and First for Military Housing
October 04, 2021
Lincoln Military Housing (LMH) today announced the creation of an Employee Stock Ownership Plan (ESOP) that will give its employees, many of whom are military-affiliated, an ownership stake in the company, its mission, and its future. This transition also makes LMH the largest property management company ESOP in the United States and is a first for the military housing industry.
"When surveyed, our LMH team members consistently respond that the most rewarding aspect of their career is having the opportunity to work with the service members and their families who serve our country,'' said Philip Rizzo, CEO/COO of LMH. "By giving each of our team members ownership, LMH hopes to better reward their dedication and commitment to serving our residents for years to come."
The formation of the ESOP further benefits the over 36,000 military service members and their families that call a Lincoln community home by giving each LMH team member a vested interest in the company. Our team members will continue to take ownership of the quality of the daily services they provide and also in the company's reputation and overall success, with the knowledge that our collective success will now ensure greater financial security for their families.
With the formation of the ESOP, LMH will now be independent of our former parent company, Lincoln Property Company. As such, another exciting component of our transition to an ESOP is the transition to our new name, Liberty Military Housing. Our mission of exemplary service for our military families will not change, nor will our dedication to providing our team member-owners with unparalleled opportunities for personal and professional development and our continued commitment to providing our military partners with quality homes and vibrant neighborhoods. To ensure a smooth transition and provide clarity around our new name and brand, the company website will feature both an introduction on the homepage as well as maintain all historical news and updates from Lincoln Military Housing.
"We are proud of our 20-year history as Lincoln Military Housing and have always been dedicated to upholding the values and integrity associated with the name," said Rizzo. "We are excited to adhere to those same guiding principles under our new name, Liberty Military Housing, and new employee-owned structure, for the benefit of our families and all of our dedicated team members."
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