Continental Realty Expands into Arizona with Sundance Towne Center Acquisition
Deal News | Jun 17, 2025 | Continental Realty Corp
Continental Realty Corp. (CRC), a Baltimore-based real estate investment and management firm, announced its expansion into the Arizona retail market with the acquisition of Sundance Towne Center for $54.3 million. This 203,525 square foot regional power center, located in the Phoenix Metropolitan Statistical Area, consists of nearly 50 retailers and restaurants and was shadow-anchored by major retailers like Walmart Supercenter and Lowes Home Improvement. This acquisition is a strategic move as part of CRC's entry into the rapidly growing Maricopa County, noted as the fastest-growing county in the U.S. This effort continues CRC's recent expansions, following recent acquisitions including the CityPlace Doral in Miami-Dade County and the Crossroads of Taylorsville in Utah. Since 2021, CRC has acquired $900 million in retail estate and aims to further upgrade and enhance its recently acquired properties.
Sectors
- Real Estate Investment
- Retail
Geography
- United States – The transaction involves Continental Realty Corp., a U.S.-based firm, acquiring property in Arizona, a state in the U.S.
- Arizona – The acquired property, Sundance Towne Center, is located in Maricopa County, Arizona, indicating geographical relevance.
- Maricopa County – The article highlights Maricopa County's growth potential, making it a focus area for CRC's market expansion strategy.
Industry
- Real Estate Investment – The article pertains to CRC's acquisition of a retail property, expanding its portfolio within the real estate investment sector.
- Retail – The acquisition involves a retail center, Sundance Towne Center, highlighting its importance in CRC's retail sector investment strategy.
Financials
- 54,300,000 – The acquisition price for the Sundance Towne Center by Continental Realty Corp.
- 4,000,000,000 – The amount representing Continental Realty Corp.'s Assets Under Management (AUM).
- 323,000,000 – Funds raised by Continental Realty Corp's closed-end private equity fund, CRORF, for acquisitions such as CityPlace Doral.
Participants
| Name | Role | Type | Description |
|---|---|---|---|
| Continental Realty Corp. | Bidding Company | Company | A Baltimore-based real estate investment and management firm active in acquiring and managing retail and multifamily properties. |
| Sundance Towne Center | Target company | Company | A 203,525 square foot regional power center located in Phoenix Metropolitan Statistical Area, Arizona. |
| Shin Yen Management | Selling Company | Company | The company represented by CBRE in the sale of Sundance Towne Center to Continental Realty Corp. |
| CBRE | Legal Advisor | Company | The commercial real estate service firm that represented the seller, Shin Yen Management, in the transaction. |