McCann Realty Partners, LLC (“McCann”) and Pegasus Residential, LLC (“Pegasus”) have announced today that McCann has made a significant investment in Pegasus Residential, a leading third-party property management company. This alignment of businesses creates a more vertically integrated platform that positions McCann as a multi-faceted leader in the industry and Pegasus with the resources to continue to grow and expand its best-in-class services for team members, residents, clients, and partners under the leadership of Lindy Ware, CEO and Founder of Pegasus.
McCann Realty Partners, founded in 2004 and headquartered in Richmond, VA, has acquired and/or developed 46 communities totaling 13,298 apartment units valued at over $1.5 billion throughout the Mid-Atlantic, Southeast, Midwest, and Southwest regions. McCann and its principals have decades of multi-family experience, a strong track record of value creation for its institutional capital partners, and an outstanding reputation for acquisition, renovation, development, and construction in the apartment industry.
“We are truly excited to expand our long-term partnership with Pegasus Residential. Pegasus is a leading property management firm and has a broad footprint of operating experience in the best markets across the country,” said Fleet Wallace, Managing Principal and Founder of McCann Realty Partners. “We look forward to continuing to work together to strengthen our aligned companies.”
“We are thrilled to announce our expanded strategic partnership with Pegasus, combining best-in-class Property Management with McCann’s investment and value creation expertise.” said McCann President and Managing Principal Matt Akin. “CEO Lindy Ware and her team at Pegasus consistently outperform their peers with a personal touch that is hard to find in the current property management environment. They are accessible, communicate effectively, and are quick to adjust to the rapidly evolving real estate operating environment. Pegasus is a people-first company, and the culture has been cultivated meticulously over the years, and the results are impressive. McCann will continue to invest capital in Pegasus to enhance our customer experiences as the industry evolves to outperform our competition.”
Pegasus Residential is a dynamic, full-service multifamily management company offering an innovative and personalized approach to apartment management and real estate services, including Construction Management, Technology Innovation, Marketing, Branding, Operations, Lease-Up, and Renovations. Headquartered in Alpharetta, GA, Pegasus Residential is a NMHC Top 50 Manager with more than 44,000 units across 117 multifamily communities across Georgia, North Carolina, South Carolina, Florida, Virginia, Texas, Louisiana, Alabama, Tennessee and Colorado. Pegasus has recently expanded west into Colorado and is looking to grow its footprint further west into Phoenix, Denver, and Salt Lake City.
This initiative supports a vision to create “the best management company the industry has ever seen,” according to CEO Lindy Ware. “We want our residents to love their home, and our people to love their careers.” Ware began her career on-property and has built Pegasus to address realities that are often overlooked by investment-minded owners. “It’s hard work, but when you gather great people and give them what they need to thrive, it’s magical,” she says. This deal gives Pegasus additional capacity to serve its growing roster of third-party management clients.
Laurie Lyons, VP Business Development, says, “We’ve stayed ahead of where multifamily is going in terms of how we serve our team, our residents and our clients. First and foremost, we lead in the technology revolution, which enables us to change the staffing paradigm as well as to create an interactive resident experience that adds value for our clients. Our expanded partnership with McCann will continue to bolster our mission to transform multifamily.”
