**Continental Realty Acquires CityPlace Doral for $87.5 Million**
Continental Realty Corporation (CRC) has acquired CityPlace Doral, a 235,000-square-foot grocery-anchored lifestyle and entertainment center located at 8300 NW 36th Street in Doral, Florida. The purchase price was $87.5 million.
CityPlace Doral features over 30 retailers and restaurants. Anchor tenants include The Fresh Market, Cooper’s Hawk Winery & Restaurant, and Anatomy Fitness. At the time of the acquisition, the center was approximately 80 percent leased.
The seller, PGIM Real Estate, was represented by Danny Finkle and Jorge Portela of JLL.
The acquisition was made through the Continental Realty Opportunistic Retail Fund I (CRORF), a closed-end private equity fund that has raised $323 million, including related co-investments. Since its launch in 2021, CRORF has been used to acquire 15 retail properties totaling roughly 3.75 million square feet. With the addition of CityPlace Doral, CRC now owns 13 retail centers in the state of Florida.
CRC also announced plans to upgrade the property’s parking garage and on-site amenities.
