Continental Realty Corporation (CRC), a Baltimore-based real estate investment and management company, has announced the successful closing of its Continental Realty Opportunistic Retail Fund I (CRORF). The fund raised $240 million in equity to target and acquire a diversified portfolio of distressed, opportunistic, and value-add retail properties throughout the US. Since 2012, CRC has raised almost $1 billion in equity for retail and multifamily investments across five real estate funds as well as multiple co-investments.
JM Schapiro, CEO of CRC commented on the success: “Our team believes that open air retail assets remain underappreciated which is why we intend to deploy capital into this favorable investment environment.” CRORF has already acquired nine retail properties comprising 1.9 million square feet with six being grocery anchored; over one third of the fund’s capital was invested during this process.
