CONTINENTAL FUND NEAR CENTURY MARK

Continental Realty Corp's CRC Fund III hit $78.6M, after closing another $27M. And it could hit $100M thanks to the relationships CEO JM Schapiro has made through eight months on the road and across oceans. (Quick quiz: Which president is on the $100M bill?)
 
JM (front and center, snapped today with president Gene Parker, investor reporting director Lauren Wayne, and general counsel Nick McCoy) told us that equity—from individuals, investment advisors, institutional investors, foundations, and endowments—will go toward 10 to 20  multifamily and retail value-add properties from the Mid-Atlantic to South Florida; the Charlotte area is within its sights. The firm has already bought three. The trick: finding properties where Continental can restructure debt, manage the property differently, or save an owner that's run out of equity—and then act fast.
 

Continue reading this story with a free account

Log in or register
Sign up for more articles like this
Subscribe to Bisnow's Charlotte Newsletters
Related Stories

Philly's Busy Summer Created Momentum. Can The City Turn It Into Long-Term Growth?

Downtown Atlanta Improvement Group Picks Food Bank Chief As Next Leader

Trump's DEI Crackdown Is Creating New Risks For Landlords That Lease To The Government

Brandon Johnson Seeks Second Term Amid Strained CRE Relationship

Luxury Marriott Hotel Will Take Space In Charlotte Office Conversion

Former CBRE Exec Suing Brokerage Giant Over Age Discrimination, Whistleblower Complaint

D.C. Investor Behind The Stacks Swaps CEO For First Time In 25 Years

CBRE IM Buys Net Lease REIT For $1.6B, Plans More Investment

The Difference Between Service And Hospitality That Makes A Flexible Workspace A Success

Beyond The Boom: How Miami's CRE Market Continues To Be Resilient

Sixers And Flyers Unveil Renderings Of South Philly Arena Due In 2030

The Opportunities, Limitations And Benefits Of Reserved Investor Funds