Daily Record Staff//April 24, 2023
//April 24, 2023
Continental Realty Corporation, a Baltimore-based real estate investment and management company with $3.5 billion in assets under management, closed its Continental Realty Opportunistic Retail Fund I LP (CRORF), a close-ended fund, raising $240 million in equity.
The total includes $200 million in the fund itself and $40 million in its two co-investment vehicles.
Since 2012, CRC has raised nearly $1 billion in equity for retail and multifamily investments across five real estate funds and multiple associated co-investments.
The CRORF closing follows last summer’s closing of Core Multifamily Fund, LP for which almost $150 million in private equity funds was raised.
CRC owns and manages a diversified portfolio of more than 9,000 apartment homes, as well as retail centers and other commercial properties consisting of more than 7 million square feet of commercial space across 10 U.S. states.
CRORF was formed to create a vehicle to target and acquire a diversified portfolio of distressed, opportunistic, and value-add retail properties throughout the United States.
Since the inception of CRORF in 2021, CRC has acquired nine retail properties comprising nearly 1.9 million square feet of space. Six of the nine properties are anchored by grocery stores and CRC has now entered the suburban Chicago and Troy, Michigan trade areas. At this point, the fund is already more than one-third invested.o