JOSH RIES CONSTRUCTION, INC., LEADING EDGE CONSTRUCTION OF GALENA, INC., AND PEGASUS PROPERTIES, LLC, MERGE TO FORM NEW ENTERPRISE

FOR IMMEDIATE RELEASE
West Chicago, Illinois, United States of America (Free-Press-Release.com) August 31, 2010 -- GALENA, IL —Josh Ries Construction, Inc., Leading Edge Construction of Galena, Inc., and Pegasus Properties, LLC, are pleased to announce a merger between their respective businesses to form one new entity. The new company will retain the Pegasus Properties, LLC name.

Pegasus Properties brings with it a new name, but maintains the integrity, workmanship and reputation that each company has cultivated throughout years of experience. “I’m excited to join forces with respected contractors Chad and Mike Casper and build on the extensive experience and precision that the community has come to expect from them,” said Josh Ries.

In addition to construction, Pegasus Properties will offer a broad range of capabilities and resources including property management, property development, estimation services, architectural services, and tax credit consulting. These capabilities combined give Pegasus Properties the ability to value engineer any project and at the same time provide one trusted point of contact. “We saw this merger as an opportunity to gain a stronger foothold in the industry and expand our business by consolidating assets and providing additional services to our clients,” said Chad Casper.

Mark Hope and Toben Murdock, initial owners of Pegasus Properties, have been developing new real estate projects such as the renovation of the former Walker Shoe Company building at 756 Main Street in Dubuque. This project entails the complete renovation of a historic project to include a restaurant on the ground floor and four market-rate apartments in the upper floors. This project includes grants, incentives, and tax credits that were negotiated specifically for this project. “We are very pleased to join forces with Leading Edge and Josh Ries Construction in order to create a company with a unique set of capabilities and skills,” said Mark Hope. “The combination of these three companies will form the basis for a business model that will provide our customers and clients with the best possible array of services,” continued Hope.

Pegasus Properties will house their new headquarters in the Knautz Professional Building at 800 Spring Street in Galena. Mark Hope will be the Managing Director of the firm while Chad Casper, Josh Ries, Toben Murdock and Mike Casper will round out the company’s board of directors.

construction management     property development     property management     tax credit consulting