Continental Properties Closes $210 Million Fund
Funding | Dec 16, 2024 | Continental Properties Co Inc
Continental Properties Company, Inc., a national firm specializing in the development and management of rental home communities, retail, and hospitality properties, has successfully closed its ninth private real estate fund, Continental Properties Real Estate Development Fund III, L.P. The firm has garnered $210 million in capital commitments aimed at developing 14-16 suburban apartment communities, with a projected stabilized value surpassing $1 billion. This strategic move aligns with Continental’s aim to exploit under-supplied housing markets projected for 2026 and beyond, reflected in their groundbreaking of 3,517 apartment homes in 2024 alone. Despite a challenging economic landscape, Continental continues to demonstrate its operational resilience and investment appeal through its branded communities, including Springs Apartments, Authentix Apartments, and Avanterra Homes. The company has raised $1.7 billion since 2019, achieving a portfolio value exceeding $5 billion, solidifying their robust investor network and highlighting the growth opportunities in the suburban rental housing market. The successful fund closing underlines Continental’s commitment to catering to market shifts, ensuring the delivery of quality housing, and fostering community growth through its developments.
Sectors
- Real Estate Development
- Private Equity
Geography
- United States – Continental Properties is a national developer in the U.S., and the fund's focus on suburban apartment developments pertains to the U.S. market.
Industry
- Real Estate Development – The article pertains to Continental Properties, which is heavily involved in real estate development, specifically in the construction of suburban apartment communities.
- Private Equity – The article discusses the closing of a private real estate fund, a common practice within the private equity sector.
Financials
- $210 million – Total capital commitments raised for Continental Properties Real Estate Development Fund III, L.P.
- $1 billion – Projected aggregate stabilized value of the properties developed by the fund.
- $1.7 billion – Total capital raised by Continental Properties since late 2019.
- $5 billion – Total portfolio value achieved by Continental Properties.
Participants
| Name | Role | Type | Description |
|---|---|---|---|
| Continental Properties Company, Inc. | Developer/Target | Company | A national developer, owner, and operator of rental home communities, retail, and hospitality properties. |
| Jim Schloemer | Co-Founder and CEO | Person | Co-Founder and CEO of Continental Properties, providing strategic direction and leadership. |
| Dan Minahan | President | Person | President of Continental Properties, focusing on meeting stakeholder needs and sustainable growth. |
| Alex Wagner | Vice President of Investor Relations | Person | Responsible for handling investor relations and contributing to the firm's capital-raising success. |