McCann Realty Partners Secures 336-Unit Chesapeake Community in Mid-Atlantic Expansion

McCann Realty Partners expands its Mid-Atlantic portfolio with the acquisition of Red Knot at Edinburgh in Chesapeake, Va., planning significant amenity and unit upgrades.

By: AXL Media

Published: Mar 13, 2026, 11:58 AM EDT

Source: https://www.multihousingnews.com/

Strategic Acquisition and Management Shift

The acquisition of Red Knot at Edinburgh marks a strategic handover from the seller, The Breeden Co., which originally developed the property in 2015. Pegasus Residential has been tapped to take over property management, bringing a specialized focus on resident experience to the 15-acre site. This deal follows McCann’s recent $33.4 million purchase of Reserve South in Richmond, highlighting a clear trend of the firm doubling down on high-growth corridors within the Mid-Atlantic.

Comprehensive Value-Add and Amenity Upgrades

McCann intends to implement a multi-faceted renovation plan to enhance the property's competitive positioning. Interior upgrades for select units will feature new stainless-steel appliances, modernized flooring, and lighting refreshes. Beyond the individual apartments, the firm is prioritizing the evolution of shared spaces. Key additions to the community will include:

Micro-market: Providing on-site convenience for residents.

EV Charging Stations: Aligning the property with modern infrastructure needs.