McCann Realty Partners Expands with Acquisition of Red Knot at Edinburgh Apartment Homes

McCann Realty Partners Expands Its Portfolio

Chesapeake, VA – McCann Realty Partners, a distinguished player in multifamily investment, recently announced its acquisition of the Red Knot at Edinburgh Apartment Homes, a 336-home community situated in Chesapeake, Virginia. Built in 2015, this garden-style apartment complex boasts a variety of one, two, and three-bedroom floor plans designed to cater to a diverse range of residents.

A Community with Premium Amenities

The Red Knot community stands out with its well-planned amenities. Residents can enjoy features such as elevators, a resort-style swimming pool, fitness center, and a welcoming clubhouse. Outdoor spaces are equally impressive, offering a courtyard, covered lounge areas, and outdoor grilling stations, along with designated areas for dogs and children’s playgrounds—all nestled within a spacious 15-acre low-density setting. Perfectly located, the property ensures easy access to major transportation routes, employment centers, and popular retail and lifestyle spots, including Edinburgh Commons.

Plans for Modernization

McCann Realty Partners has outlined detailed plans for upgrading the units. These enhancements include the installation of new stainless-steel appliances, revitalized paint, upgraded flooring, and modern lighting in select homes. Additionally, improvements to the communal amenities will take place, including renovations to the clubhouse and the establishment of new features such as a micro market, a dog run, and electric vehicle (EV) charging stations.

Mike Dowd, Managing Director at McCann, expressed enthusiasm over the acquisition, stating, "We are excited to bring our team's expertise to this high-quality asset. The residents of Red Knot at Edinburgh will benefit from the amenity enhancements and operational improvements that we plan to make at the property."

President of McCann, Matt Akin, highlighted the strategic significance of the acquisition, saying, "We are pleased to acquire this excellent property in the Tidewater market. This acquisition provides the opportunity to modernize and upgrade the property's finishes, which will enhance the overall experience of the community."

Management by Pegasus Residential

Managing the property will be Pegasus Residential, a subsidiary of McCann based in Atlanta. Pegasus has a strong reputation in the multifamily housing industry, focused on providing an exceptional living experience. With over 1,000 associates working across more than 50 markets in 12 states, they serve a multitude of clients, handling over 50,000 units.

In addition to day-to-day management, Pegasus offers expertise in acquisitions, branding, marketing, and construction management, making them an integral part of McCann’s strategy for value creation in residential properties. This approach not only focuses on operational excellence but also emphasizes creating a sense of community and home for residents.

Future Expansion Plans

As McCann Realty Partners looks ahead, the firm is actively seeking new acquisition opportunities across the Mid-Atlantic, Southeast, and Texas regions. Those interested in potential collaborations or acquisition opportunities can reach out directly to Thomas Upson at (804) 708-1708.

For more information on McCann Realty Partners, interested parties can visit the firm’s website at mccannrealty.com. With its commitment to innovative strategies and disciplined execution, McCann Realty Partners continues to establish itself as a formidable player in the multifamily investment landscape.

Overall, the acquisition of Red Knot at Edinburgh Apartment Homes marks a significant step in McCann Realty Partners' growth strategy, aiming to enhance community living through thoughtful renovations and comprehensive management. Residing at Red Knot will not only mean enjoying a beautiful living space but also experiencing valuable community-focused improvements that foster a vibrant atmosphere.