Continental Realty Group JV makes sixth acquisition

Continental Realty Group, through its subsidiary Continental Realty Assets (CRA) and in partnership with Milwaukee-based MLG Capital, has acquired the 112-unit Skyline Apartments in Durango, Colo.

This marks the sixth partnership between CRA, a Denver-based multifamily owner and operator,  and MLG Capital after their recent disposition of Tempe Metro in Tempe, Ariz.

Built in 2002, Skyline is one of only three institutional-quality multifamily communities in Durango. CRA has targeted Durango due to its significant demand drivers and high barriers for development. The property will be managed by Valiant Residential, an institutional-quality, third-party, multifamily management firm actively expanding into the Colorado market. Headquartered in Dallas, Valiant has 35 years of experience in multifamily property management with a current portfolio of 30,000 apartment units in nine U.S. markets across four states.

CRA and MLG plan to implement a renovation program tha