McCANN REALTY PARTNERS ACQUIRES RESERVE SOUTH APARTMENT HOMES IN RICHMOND, VA

RICHMOND, Va., July 23, 2025 /PRNewswire/ -- McCann Realty Partners ("McCann") announced the acquisition of Reserve South Apartment Homes, a 200-home community in Richmond, VA. Built in 1987, the garden-style apartment community features 2 and 3-bedroom apartment floorplans and high-quality amenities including a swimming pool, outdoor grilling station, sport court, dog park, fitness center, and resident lounge room, all situated in a low-density setting on over 20 acres. The property's high-quality suburban location provides convenient access to major transportation routes (Midlothian Turnpike, Chippenham Parkway, and Powhite Parkway), critical employment centers, and popular retail and lifestyle centers, including Chippenham Hospital, Stonebridge Shopping Center, and Springline at District 60. The property will be managed by McCann subsidiary Atlanta-based Pegasus Residential ("Pegasus").

Unit upgrade plans include new appliances, flooring upgrades, and countertop upgrades in select units. Amenities will also be enhanced through the renovation of the pool area and the addition of a new club room and grilling stations in a park setting.

"We are excited to bring our team's expertise to these properties" said Thomas Upson, Managing Director at McCann. "The residents of Reserve South should benefit from the amenity enhancements and operational improvements that we make at the property".

"We are pleased to acquire another asset in the Richmond market," said Matt Akin, President of McCann. "Reserve South fits our value-add strategy to significantly improve the overall positioning of the property and presents a unique opportunity for McCann and Pegasus Residential to improve operations that will enhance the living experience of our residents."

McCann continues to seek new acquisition and development opportunities in the Mid-Atlantic, Southeast, and Texas. For acquisitions and development in the Mid-Atlantic, Southeast, and Texas, please contact Thomas Upson at (804) 708-1708. 

McCann Realty Partners is a premier multifamily investment firm with an institutionally experienced team dedicated to value creation, innovative strategies, and disciplined execution. Headquartered in Richmond, Virginia, McCann teams with institutional capital sources to acquire, develop, construct, and operate apartment communities in the Mid-Atlantic, Southeast, and Southwest regions. For more information about McCann, visit https://www.mccannrealty.com/.

Pegasus Residential, a wholly owned subsidiary of McCann Realty Partners, is a leader in the multifamily housing industry, dedicated to helping people find home. With over 1,000 associates in over 50 markets across 12 states, we serve more than 60 clients, creating a home for careers and investments alike. As an NMHC Top 50 property management company, we manage over 50,000 units delivering exceptional service and outperforming competitors. In addition to the daily management of communities in its portfolio, Pegasus also provides expertise to clients for acquisitions, new development, branding and marketing, and construction management. To learn more about Pegasus, visit www.pegasusresidential.com.

For information on Pegasus Residential, please contact Dana Caudell at [email protected] and (561) 245-1079.

Contact: Mike Dowd, McCann Realty Partners (804) 708-1709

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SOURCE McCann Realty Partners