Continental Realty Corp. has closed its fifth fund, raising $210.8 million. Fund investors consist of a diverse mix of institutional investors, investment advisers, high-net-worth individuals, foundations and endowments.
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 has acquired three retail shopping centers and one multifamily community on behalf of Fund V. The assets include Governors Commons, a 130,000-square-foot shopping center in Anne Arundel County, Md.; Seven Hills Plaza, an 87,250-square-foot retail center situated north of Tampa, Fla.; The Shoppes at Pelican Preserve, a nearly 70,000-square-foot retail asset in the Fort Myers, Fla., area; and The Village Apartments, a 300-unit multifamily community in Raleigh, N.C.