Henrico realty co. gains majority ownership of Ga. management company

Henrico County-based property development company McCann Realty Partners LLC now has a controlling interest in Georgia-based property management company Pegasus Residential LLC, the company announced last week.

Financial details of the transaction were not disclosed.

The two companies have been partners since Pegasus’ founding in 2009, McCann Realty Partners President and Managing Principal Matt Akin said, and McCann previously had a minority interest in the company. Akin and McCann Realty Partners Managing Principal and founder Fleet Wallace will continue to sit on Pegasus Residential’s board, along with Pegasus’ CEO Lindy Ware.

“We are truly excited to expand our long-term partnership with Pegasus Residential,” Wallace said in a statement. “Pegasus is a leading property management firm and has a broad footprint of operating experience in the best markets across the country.”

Founded in 2004, McCann Realty Partners has acquired and/or developed 46 communities totaling 13,298 apartment units valued at $1.5 billion in the mid-Atlantic, Southeast, Midwest and Southwest regions of the U.S.

Pegasus Residential is a real estate management and services company that offers construction management, technology innovation, marketing, branding, operations, lease-up and renovations. The company oversees more than 44,000 units across 117 complexes across Virginia, Alabama, Colorado, Florida, Georgia, Louisiana, North Carolina, Tennessee, Texas and South Carolina.