Continental Properties Secures $210 Million for Real Estate Development Fund
Funding | Dec 16, 2024 | Newswire Business
Continental Properties Company, Inc. has closed its third real estate development fund, raising $210 million. The fund aims to develop 14-16 suburban apartment properties exceeding $1 billion in value. Despite economic challenges, Continental Properties maintains its strategic vision, targeting under-supplied housing markets. In 2024, they began construction on 3,517 homes. Over the past five years, they've raised $1.7 billion with a total portfolio valued at over $5 billion. The company remains focused on delivering quality housing through brands like Springs Apartments and Avanterra Homes.
Sectors
- Real Estate Development
- Private Equity
Geography
- United States – Continental Properties is a national developer in the U.S., and the fund will invest in American suburban housing markets.
Industry
- Real Estate Development – The article discusses the closing of a real estate development fund focused on suburban apartment communities.
- Private Equity – Continental Properties raised funds from private equity sources to invest in property development.
Financials
- $210 million – Total capital commitments raised for the Continental Properties Real Estate Development Fund III.
- $1 billion – Projected aggregate stabilized value of properties developed through the fund.
- $1.7 billion – Total funds raised by Continental Properties since late 2019.
- $5 billion – Total portfolio value of Continental Properties.
Participants
| Name | Role | Type | Description |
|---|---|---|---|
| Continental Properties Company, Inc. | Fund Manager | Company | National developer, owner, and operator of rental home communities, retail, and hospitality properties. |
| Jim Schloemer | Co-Founder and CEO | Person | CEO of Continental Properties and Chairman of the National Multifamily Housing Council. |
| Dan Minahan | President | Person | President of Continental Properties. |
| Alex Wagner | Vice President of Investor Relations | Person | Vice President of Investor Relations at Continental Properties. |