Pegasus Real Estate

Name

Pegasus Real Estate

Legal name

Pegasus Real Estate LLC

Website

https://pegasusre.com

Company type

Private

Founded year

2019

Operating status

Operating

Headcount range

1–10 employees

Ownership category

akta.pro rank

Product category

Commercial Real Estate Private Equity

NAICS

Other Investment Pools and Funds (5259), Portfolio Management and Investment Advice (52394)

SIC

Real Estate Dealers (For Their Own Account) (6532)

akta.pro primary industry

Large-Cap / Mega-Fund Buyout (FSANABAA)

Keywords

• Commercial real estate private equity
• Multifamily property investment
• Real estate asset management
• Value-add real estate
• Institutional real estate investing

Headquarters

HQ city

Dallas

HQ country

United States

HQ region

North America

Offices1 record

Markets served

GTM type

B2B

Offering type

Services

Cost components

Personnel, Operations, Marketing or Sales, Technology or R&D, Others

Revenue model

1. Real Estate Investment Returns: The firm generates returns through the acquisition and repositioning of multifamily and light industrial properties in major metropolitan markets. Revenue is derived from rental income during the hold period, property appreciation, and profits from asset disposition upon stabilization and execution of the business plan. The firm targets attractive, risk-adjusted returns for investors and partners.

Go-to-market motion1 record

Distribution channels2 records

Marketing channels2 records

Core offering

Pegasus Real Estate is a Dallas-based private commercial real estate private equity firm that acquires and repositions multifamily and light industrial properties in major metropolitan markets, primarily in Texas. The firm raises capital from institutional and high-net-worth investors to pursue value-add acquisitions in strategic locations with high barriers to entry, then executes hands-on asset management to maximize property NOI before disposition to generate risk-adjusted returns.

Product overview

Pegasus Real Estate is a Dallas-based private commercial real estate private equity firm primarily focused on the acquisition and repositioning of multifamily and light industrial properties located in major metropolitan markets. The firm's investment strategy targets properties with unique attributes in strategic locations with high barriers to entry, high-growth corridors, and submarkets with favorable supply/demand fundamentals. The company implements hands-on asset management through property management companies, leasing companies, and construction/renovation companies to maximize asset value. The portfolio consists of current holdings in multifamily properties (including Lakeside Apartments with 296 units in Houston, Lakes at Lewisville with 214 units, Villas Tech Ridge with 350 units in Pflugerville, 4000 Hulen Apartments with 240 units in Fort Worth, and The Wayman with 284 units in Austin) and light industrial properties, along with previously sold assets including Baypoint Apartments, NOAH Apartments, Rienzi at Turtle Creek, and DFW Airport Flex Industrial.

Differentiator

Problem solved

Functional benefit

Products and services

• Pegasus Real Estate Investment Platform Private commercial real estate investment platform focused on acquiring and repositioning multifamily and light industrial properties in major metropolitan markets to generate attractive, risk-adjusted returns for investors. Targets institutional and high-net-worth investors seeking exposure to value-add commercial real estate opportunities.
• Lakeside Apartments 296-unit multifamily community located at 9550 Meyer Forest Dr, Houston, TX 77096, held in Pegasus's current portfolio.
• Lakes at Lewisville 214-unit multifamily community located at 290 Lake Park Rd, Lewisville, TX 75057, held in Pegasus's current portfolio.
• Villas Tech Ridge 350-unit multifamily community located at 13838 The Lakes Blvd, Pflugerville, TX 78660, held in Pegasus's current portfolio.
• 4000 Hulen Apartments 240-unit multifamily community located at 4000 Hulen St, Fort Worth, TX 76107, held in Pegasus's current portfolio.
• The Wayman 284-unit multifamily community located at 3101 Wells Branch Pkwy, Austin, TX 78728, held in Pegasus's current portfolio.
• DFW Airport Flex Industrial Flex industrial property located in the Dallas-Fort Worth area, held as an industrial asset in Pegasus's portfolio.

Quantifiable outcome

• $872M+ in total transactions completed
• +2 more outcomes

Segments1 record

Ideal customer profiles1 record

Technology focussed No

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

Partnerships

Two partnerships are on record, tiered minor and core.

• NewmarkminorChannel Partner/ Reseller/ Distributor · 26 April 2022Newmark served as the broker arranging the sale of Ashford, a 264-unit apartment community in Carrollton, Texas from Pegasus Real Estate. Newmark acts as an intermediary in disposition transactions.
• Thackeray PartnerscoreStrategic or Co-development Partner · 19 April 2022Partnership between Pegasus Real Estate and Thackeray Partners to purchase NOAH Apartments, a 224-unit multifamily community in San Antonio's Alamo Heights neighborhood. The partnership demonstrates Pegasus's co-investment strategy with operating partners for value-add acquisitions.

Scale indicators6 records

Recent moves4 records

Expansion highlights3 records

Broad incumbents

• Brookfield Real Estate: Global real estate investment manager with substantial multifamily (e.g., Brookfield Property Partners) and Texas presence. Incumbent competitor for large multifamily portfolios and institutional LP capital.
• PGIM Real Estate: Global real estate investment manager with $200B+ AUM across debt and equity strategies. Robert Gallman (Pegasus VP of Asset Management) was previously a Senior Asset Manager at PGIM, illustrating the institutional pedigree Pegasus is commercializing. Comparable as a multifamily/industrial lender and equity investor in Texas markets.
• Blackstone Real Estate: Largest global real estate PE platform with significant multifamily and industrial exposure including major Texas holdings (e.g., Tricon, AIR Communities). Represents the institutional incumbent Pegasus competes against for capital and deals.

Emerging players

• BlueRock Real Estate: Smaller Texas-focused multifamily private equity sponsor with value-add acquisition strategy. Comparable in scale, asset class, and Texas market focus though somewhat earlier-stage.

Direct peers

• Knightvest Capital: Dallas-based multifamily-focused private equity firm acquiring value-add properties across Texas and other Sunbelt markets. Comparable in strategy, asset class concentration, and target submarkets.
• American Landmark Apartments: Multifamily investment and management firm focused on value-add properties in Texas and other high-growth Sunbelt markets. Similar acquisition and repositioning strategy targeting institutional-quality workforce housing.
• Range Companies: Texas-based private equity real estate operator focused on multifamily and industrial assets across the Sunbelt. Comparable by Texas market focus, asset class mix, and value-add execution approach.
• Crow Holdings Capital: Dallas-based private real estate investment manager with deep Texas multifamily and industrial focus, similar asset class mix, and comparable value-add acquisition strategy. Most directly comparable peer given shared geography and strategy.
• Thackeray Partners: Texas-based multifamily-focused private equity real estate firm that has partnered with Pegasus on NOAH Apartments in San Antonio. Directly comparable by asset class (multifamily), geography (Texas), and value-add strategy.

Others

• JLL (Jones Lang LaSalle) Real Estate Capital Markets: Global commercial real estate services firm with investment sales, debt placement, and asset management capabilities. Acts as broker and capital advisor counterparties to sponsors like Pegasus and an indirect channel for fundraising and dispositions.

Market position

Strengths4 records

Weaknesses4 records

Competitive moat3 records

Key highlights6 records

Customer concentration

Compliance1 record

Revenue estimate

Valuation estimate

Number of profiles

Profiles4 records

Funding overview

Funding rounds

Investors

Funding detail is available on the Subscription and Enterprise plan.Contact sales →

M&A

Investments

M&A and investment is available on the Subscription and Enterprise plan.Contact sales →

Frequently asked questions about Pegasus Real Estate