August 12, 2019

CRC Announces Closing of $210.8M for New Continental Realty Fund, L.P.

Fund formed to acquire value-add multifamily apartment communities and retail properties

The Village Apartments, Raleigh, North Carolina

CRC has announced the closing of Continental Realty Fund V, L.P., in which approximately $210.8 million in private equity funds was raised. Fund investors consist of a diverse mix of institutional investors, investment advisors, high net worth individuals, foundations and endowments.

This represents the fifth fund established by Continental Realty, which owns and manages approximately 10,000 apartment homes and more than four million square feet of retail space around the country. As demonstrated with its previous funds, Continental Realty Fund V was formed to identify and acquire a diversified real estate portfolio of value-add multifamily apartment communities and retail properties located throughout the Mid-Atlantic and Southeast regions of the United States.

Over the past several months, Continental Realty Corporation has acquired three retail shopping centers and one multifamily community on behalf of Fund V. They include Governors Commons, a 130,000 square foot shopping center in Anne Arundel County, Maryland; Seven Hills Plaza, an 87,250 square foot retail center situated north of Tampa, Florida; The Shoppes at Pelican Preserve, a nearly 70,000 square foot retail asset in the Fort Myers, Florida area; and The Village Apartments, a 300-unit multifamily community in Raleigh, North Carolina.

“Fund V provides our team continuing capacity to acquire assets in sections of the country where we have tremendous familiarity and market knowledge, with a priority of acquiring value-add properties that deliver strong risk-adjusted returns to our investors throughout all market cycles,” stated J.M. Schapiro, Chief Executive Officer of Continental Realty Corporation. “We intend to reward the confidence and trust of our investors, and further strengthen these relationships with the acquisition of opportunities that match the value-add characteristics of the real estate fund.”

About CRC
Continental Realty Corporation (CRC), is focused on acquiring value-add retail and multifamily properties, located throughout the Mid-Atlantic and Southeast regions of the United States. Headquartered in Baltimore and founded in 1960, CRC is a full-service commercial real estate and investment company. The privately-owned firm owns and manages a diversified portfolio of retail centers, consisting of over 4 million square feet of commercial space, as well as almost 10,000 apartment homes. Positioned throughout the Mid-Atlantic and Southeast regions, the portfolio’s value exceeds $2 billion.

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