Continental Realty Corp. (CRC), a Baltimore-based real estate investment and management company, has wrapped up fundraising for its closed-end Continental Realty Opportunistic Retail Fund I (CRORF). CRORF raised a total of $240 million in equity — $200 million in the fund itself and $40 million in the two coinvestment vehicles.
CRORF was launched in 2021 to acquire a diversified portfolio of distressed, opportunistic and value-add retail properties throughout the United States. CRORF targets neighborhood, grocery-anchored, lifestyle and power centers situated within the U.S.’s top 50 metropolitan statistical areas (MSA), as well as select secondary markets.
Since its inception, CRORF has acquired nine retail properties consisting of nearly 1.9 million square feet of space. Six of the nine properties are grocery-anchored, and CRC has now entered the suburban Chicago and Troy,, Mich. trade areas. The fund is already more than one-third invested.
“This equity