Continental Realty Corp Expands into Florida with $87.5 Million Acquisition
Deal News | Jun 10, 2025 | Continental Realty Corp
Continental Realty Corp (CRC), a real estate investment firm based in Baltimore, has acquired CityPlace Doral in South Florida for $87.5 million as part of its expansion strategy. CityPlace Doral, a 235,000 square foot retail and entertainment complex, is characterized by a strong lineup of necessity, fitness, entertainment, and restaurant tenants and features a 1,700-space parking garage. The acquisition was funded through Continental Realty Opportunistic Retail Fund I, LP (CRORF) and related co-investments. As part of its investment strategy, CRC plans further tenant diversification and property enhancements. This acquisition marks CRC's commitment to the South Florida market, known for its strong demographic growth and high retail occupancy rates.
Sectors
- Real Estate
- Retail
- Private Equity
Geography
- United States – The transaction involves a property located in the United States, specifically in South Florida.
- Florida – CityPlace Doral is located in Florida, making it a significant geographical focus of the article.
- Baltimore – Continental Realty Corp is based in Baltimore, MD, adding another geographical dimension to the article.
Industry
- Real Estate – The article involves a transaction in the real estate sector, specifically focusing on retail property acquisition.
- Retail – CityPlace Doral is a retail and entertainment center, indicating the involvement of the retail industry.
- Private Equity – Continental Realty Corp uses funds from their private equity fund for the acquisition, highlighting activity in this sector.
Financials
- $87.5 million – The acquisition price paid by Continental Realty Corp for CityPlace Doral.
- $323 million – Amount raised by Continental Realty Opportunistic Retail Fund I, LP and related co-investments.
- $4 billion – CRC's Assets Under Management.
Participants
| Name | Role | Type | Description |
|---|---|---|---|
| Continental Realty Corp | Acquirer | Company | A Baltimore-based real estate investment and management firm. |
| CityPlace Doral | Target | Company | A 235,000 square foot grocery-anchored lifestyle and entertainment center located in Doral, Florida. |
| Continental Realty Opportunistic Retail Fund I, LP | Funding Source | Company | A closed-end private equity fund managed by Continental Realty Corp. |
| JLL | Legal Advisor | Company | Represented the seller in the transaction. |
| Josh Dinstein | Senior Vice President of Commercial Acquisitions | Person | Senior Vice President at Continental Realty Corp responsible for acquisitions. |
| JM Schapiro | CEO | Person | Chief Executive Officer of Continental Realty Corp. |