Jimmy Webb, co-founder of Freeman Webb, over the years

Sandy Mazza | The Tennessean

James A. Webb III, co-founder and president of leading Nashville real-estate company Freeman Webb, military veteran, and active community volunteer, died Thursday night after a battle with cancer. He was 71.

Webb – better known as Jimmy – and his longtime business partner Bill Freeman formed their apartment development and management firm in 1979 after meeting at Nashville’s Junior Chamber of Commerce.

Jimmy Webb

"He’s one of the greatest men I’ve ever known, just a wonderful man," Freeman said Thursday night. "He was a very shrewd and good manager and business partner. Everybody respected what he said. His word was his bond."

Today, their company owns and manages more than 16,000 apartment units, 10 million square feet of commercial space, and has about 500 employees. It has $500 million in annual revenue.

The partners expanded beyond real estate into the publishing business last year.

They bought a trio of local publications – the Nashville Scene, Nashville Post, and Nfocus – owned by SouthComm, Inc. in May. Then, in October, they also purchased hyper-local online Home Page Media websites including Brentwood Home Page and Business Williamson.

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"We try to develop a family atmosphere and great environment for all our employees," Webb said in a quote on his company's website. "We take great pleasure seeing our employees grow in the business. We support them educationally and offer attractive awards and incentives for their services."

Josh Anderson / For The Tennessean

Webb earned a bachelor's degree in business from Vanderbilt University before joining the United States Navy as a commissioned officer. After serving in the Vietnam War, he joined a scientific study called Operation Deep Freeze in New Zealand, according to his company biography.

He returned to Nashville in 1975 and began working as an insurance agent with the firm McKee, Geny & Thornton. Four years later, he and Freeman began their partnership.

Webb has volunteered at a number of organizations. He served on the board of directors for prison ministry organization Men of Valor since 2003, and was vice-chairman of the Nashville Zoo's board of directors.

Rick Schwartz, president of the Nashville Zoo, said Webb was his mentor, close friends, and a critical member of the organization.

"The Board of Directors relied on his unique and broad expertise on a constant basis," Schwartz said. "On a very personal note my father died ten years ago and Jimmy provided funding for an exhibit at the Zoo in honor of him – a man he had never met and for which he refused any personal recognition. That is the quality of man Jimmy Webb was and that is the friend our entire community will deeply miss."

Shelley Mays / The Tennessean

He was also an elder for the Presbyterian Church of Nashville from 2003 to 2008, chairman of the Sister Cities of Nashville from 1994 to 2000, and chairman of the YMCA of Middle Tennessee from 1998 to 1999.

Webb volunteered with the Tennessee Vietnam Veterans Leadership Program, Tennessee State University Foundation and Buddies of Nashville.