Parting Ways In 1967, Preston Butcher became partners with Mack Pogue to run Lincoln Property Co. At the time, the company’s focus was to build and operate high-quality residential communities in the Southwest.
Under the supervision of Butcher, the company expanded its efforts into the office and industrial sectors, and expanded the residential division into other regions of the country.
“We had 30 great years with Lincoln Property Co.,” says Butcher. ” It was a great relationship and we had a lot of fun together. ? However, the separation was a disappointment.
“It was a difficult separation, but I think it was best for both companies. I’m glad it happened, but it wasn’t something that was pleasurable on either side,” he says. The final decision to separate came in 1998 when it was clear to Butcher that Pogue’s plan for the company was to pass it on to his family.
Butcher wanted to run and manage a company that could be passed down to its employees. “It’s not a reflection on family vs. employees,” says Butcher. “I just don’t have children that want to go into the business.”
So, the company was split, and Pogue took the Eastern division and the Lincoln name, and Butcher took the Western division and formed Legacy Partners.