Austin; Seeks Other Deals area: Expansion-Minded McCann Developing Multifamily Project

In Georgetown, Texas, McCann Realty Partners, which is seeking to expand its multifamily portfolio, has started construction on the 303-unit Retreat at Wolf Ranch Apartments in Georgetown, north of Austin.

McCann, headquartered in Richmond, Va. with a regional office in Houston, will act as general contractor on the Georgetown project.

McCann said it is “currently seeking new development opportunities and apartment acquisitions in the Mid-Atlantic, Southeast and Southwest.” Managing director Tre Banks of Houston handles the Southwest opportunities. Thomas Upson, McCann’s vice president of acquisitions, works other markets.

Since the firm was founded, McCann has purchased 28 apartment communities totaling more than 7,695 units in transactions valued at approximately $740 million. McCann has also developed or has under development 10 communities totaling 2,991 units with an estimated completed value of $400 million. Matthew T. Akin is the president of McCann.