Pappas Properties
Pappas Properties is a Charlotte-based private real estate developer founded in 1999 that builds mixed-use, master-planned, and healthcare-anchored communities across the Southeast US, serving institutional clients including healthcare systems, national grocers, and corporate tenants via direct development, joint venture, and property management.
- Company typePrivate
- Founded1999
- HeadquartersCharlotte, United States
- Headcount51–100
- GTM typeB2B
- OfferingServices
What Pappas Properties does
Pappas Properties is a Charlotte, North Carolina-based private real estate development firm founded in 1999 by Peter A. Pappas that develops mixed-use, master-planned, and healthcare-anchored communities across the Southeast United States. The company has completed 14 projects over 25 years, with landmark developments including Phillips Place, Birkdale Village, Metropolitan, and Sharon Square, and is currently executing on substantial pipeline projects including the 11-acre Midtown Charlotte healthcare-anchored development (in partnership with Welltower Inc. and Atrium Health), the 82-acre Cadia Village Matthews, and the 100+ acre Cadia Village Mooresville. The portfolio spans retail, office, residential (for-sale homes, for-lease apartments, townhomes, active adult), medical office, hospitality, and public space components, with anchor tenants that include national grocers (Harris Teeter, Whole Foods, Publix, Lowes Foods), major retailers (Target, Trader Joe's), healthcare systems (Atrium Health), and financial institutions (Truist).
The firm operates an integrated business model combining development, property and asset management, and construction management capabilities. Revenue is generated through development fees on custom mixed-use and master-planned projects (priced per-project on a quote-based basis against institutional clients and joint venture partners), property and asset management fees on the completed portfolio, and construction management fees on new construction, capital improvements, and tenant upfits. The go-to-market is sales-led and relationship-based, targeting enterprise clients — healthcare systems, Fortune 500 corporations, national retailers, and real estate investment trusts — through direct field sales, public-private partnerships, and industry networks (notably ULI). Capital-light participation is achieved via project-specific joint ventures, most prominently with Welltower Inc. (which holds a 75% stake in the Midtown Charlotte medical office buildings).
Pappas Properties is a founder-owned private firm with no institutional PE/VC backing. The leadership team includes senior executives with cumulative development experience exceeding $4B across mixed-use, multifamily, and commercial real estate. The company is affiliated with Terwilliger Pappas, a separate multifamily development firm co-founded by Peter Pappas with Ron Terwilliger in 2013 operating under the Solis brand across Georgia, North Carolina, South Carolina, and Tennessee. Operations are geographically concentrated in the Carolinas (Charlotte MSA, Raleigh/Triangle, with expanded cadia village pipeline in Matthews and Mooresville) and the firm maintains a 51–100 employee headcount from its headquarters at 4777 Sharon Rd, Suite 550, Charlotte, NC.
Pappas Properties firmographics
Firmographics- Name
- Pappas Properties
- Legal name
- Pappas Properties
- Website
- https://pappasproperties.com
- Company type
- Private
- Founded year
- 1999
- Operating status
- Operating
- Headcount range
- 51–100 employees
- Short description
- Pappas Properties is a Charlotte-based private real estate developer founded in 1999 that builds mixed-use, master-planned, and healthcare-anchored communities across the Southeast US, serving institutional clients including healthcare systems, national grocers, and corporate tenants via direct development, joint venture, and property management.
- Ownership category
- akta.pro rank
Pappas Properties industry classification
Industry- Product category
- Commercial Real Estate Development
- NAICS
- Land Subdivision (2372), Real Estate Property Managers (53131), Lessors of Residential Buildings and Dwellings (53111)
- SIC
- Real Estate Dealers (For Their Own Account) (6532), Real Estate Agents & Managers (For Others) (6531)
- akta.pro primary industry
- Master-Planned Community & POA Management (BPAJAHAD)
- akta.pro secondary industry
- Transitional/Development Land Brokerage (Entitled, In-Path-of-Growth) (BPAJADAJ)
Keywords
Where Pappas Properties is headquartered
LocationHeadquarters
- HQ city
- Charlotte
- HQ country
- United States
- HQ region
- North America
Offices1 record
Markets served
Pappas Properties business model
Business model- GTM type
- B2B
- Offering type
- Services
- Cost components
- Personnel, Operations, Infrastructure, Marketing or Sales, Supply Chain
Revenue model
- Development Fees: Fees earned from developing mixed-use, master-planned, and healthcare-anchored real estate projects for clients and joint venture partners.
- Property and Asset Management: Ongoing property management and asset management services for completed developments including retail centers, office buildings, and residential communities.
- Construction Management: Construction management services overseeing new construction, capital improvements, and tenant upfits at properties.
Go-to-market motion1 record
Distribution channels3 records
Marketing channels4 records
Pappas Properties product offering
Product offeringCore offering
Pappas Properties is a Charlotte-based regional developer that creates mixed-use real estate projects, master-planned communities, and adaptive reuse developments across the Southeast U.S. The firm develops, owns, and manages properties spanning retail, office, residential, medical office, hospitality, and public space components. In addition to development, Pappas Properties provides asset management, construction management, and property management services for its completed portfolio and for clients.
Product overview
Pappas Properties is the Southeast's premier mixed-use real estate developer offering a portfolio of distinct development brands and project types. The company specializes in mixed-use developments (Birkdale Village, Phillips Place, Sharon Square, Metropolitan, Midtown), wellness-focused master-planned communities (Cadia Village Matthews, Cadia Village Mooresville, Berewick), and adaptive reuse projects (Charlotte Cotton Mills, Land Design Headquarters). Services include mixed-use development, master planned communities, redevelopment, asset management, construction management, and property management. The portfolio encompasses retail, office, residential (for-sale homes, for-lease apartments, townhomes), medical office, hospitality, and public space components across 14 completed projects over 25 years in the Charlotte, NC market.
Differentiator
Problem solved
Functional benefit
Products and services
- Birkdale Village A 2004 International Design and Development Award-winning Nantucket-style Main Street village offering 300k SF retail, 55k SF office, 320 apartment homes, and 24k SF medical office on a village green setting in Huntersville/Cornelius, NC.
- Phillips Place Charlotte's premier urban village in the SouthPark neighborhood featuring 103k SF retail, 402 apartment homes, 124-room hotel, and 30k stadium-seating movie theater along a sophisticated main street. ULI Award of Excellence winner.
Quantifiable outcome
- 38th fastest-selling community in the U.S. (Berewick, 2017)
- +4 more outcomes
Companies that use Pappas Properties
Customer profileNamed customers10 records
Segments4 records
Ideal customer profiles4 records
Pappas Properties technology and API
TechnologyTechnology focussed No
API detail
- Has API
- No
- API docs
- API detail
Core technology
AI maturity
App detail
Pappas Properties partnerships and signals
Strategic signalPartnerships
Four partnerships are on record, tiered core and major.
- Garrett MaravetzcoreGarrett Maravetz joined as SVP of Retail Development with 18+ years of retail real estate experience from Harris Teeter and Kroger. He oversees retail projects including a new retail village scheduled to open in 2027, spanning site selection, acquisition, design, construction, and leasing.
- Matt TsaucoreMatt Tsau joined as SVP of Multifamily with $2B+ in development experience from Washington D.C. metro area. He heads multifamily development across Midtown Charlotte, Cadia Village Matthews, and Cadia Village Mooresville projects. Graduate of Harvard's AMDP program.
- Brasfield & GorriemajorBrasfield & Gorrie, a major construction firm, was engaged as general contractor for the Atrium Health medical office buildings at Midtown Charlotte. The project was scheduled for completion in Q3 2020 and includes two medical office buildings connected by a four-level pedestrian bridge.
- Terwilliger PappascorePeter Pappas co-founded Terwilliger Pappas in 2013 with Ron Terwilliger (former CEO of Trammel Crow Residential). The multifamily development firm has grown to over 35 communities in Georgia, North Carolina, South Carolina, and Tennessee, operating under the Solis multifamily brand. Peter serves as CEO overseeing expansion of Terwilliger Pappas' development activities.
Scale indicators9 records
Recent moves7 records
Expansion highlights5 records
Pappas Properties competitors and assessment
Company assessmentMarket position
Strengths4 records
Competitive moat4 records
Key risks5 records
Key highlights6 records
Customer concentration
Pappas Properties financial estimates
Financial estimateRevenue estimate
Valuation estimate
Pappas Properties leadership team
Management profileNumber of profiles
Profiles8 records
Pappas Properties funding detail
Funding detailFunding overview
Funding rounds
Investors
Funding detail is available on the Subscription and Enterprise plan.Contact sales →
Pappas Properties M&A and investment
M&A and investmentM&A
Investments
M&A and investment is available on the Subscription and Enterprise plan.Contact sales →
Frequently asked questions about Pappas Properties
What does Pappas Properties do?
Pappas Properties is a Charlotte-based regional developer that creates mixed-use real estate projects, master-planned communities, and adaptive reuse developments across the Southeast U.S. The firm develops, owns, and manages properties spanning retail, office, residential, medical office, hospitality, and public space components. In addition to development, Pappas Properties provides asset management, construction management, and property management services for its completed portfolio and for clients.
Is Pappas Properties a public or private company?
Pappas Properties is a private company. It is classified as founder individual operated bootstrapped and is currently operating.
When was Pappas Properties founded?
Pappas Properties was founded in 1999. It employs 51 to 100 people.
Where is Pappas Properties based?
Pappas Properties is headquartered in Charlotte, United States, in the North America region.
How does Pappas Properties make money?
Three revenue lines are on record. Development Fees are the primary driver. The others are property and Asset Management and construction Management.
Does Pappas Properties have an API?
No public API is recorded for Pappas Properties.
What industry is Pappas Properties in?
Pappas Properties's product category is Commercial Real Estate Development. Its primary akta.pro industry code is BPAJAHAD, Master-Planned Community & POA Management, with a secondary code of BPAJADAJ, Transitional/Development Land Brokerage (Entitled, In-Path-of-Growth). Its NAICS code is 2372 and its SIC code is 6532.