Continental Realty Co., a Baltimore-based real estate investment and management firm, has expanded its holdings in Florida, with two acquisitions totaling more than $70 million.
The company, founded in 1960, purchased an almost 65,000-square-foot shopping center in Clermont for $6.6 million and a 390-unit apartment building in Tampa for $65.5 million this month. The deals were made through the firm's Continental Realty Fund IV, LP.
In announcing the purchases, the firm said it sees the opportunity to add value, by adding a new anchor tenant to the shopping center and renovating the apartments.
Continental Realty owns and manages a $1.5 billion-plus portfolio of shopping centers and apartments in the mid-Atlantic and southeast. Its Continental Realty Fund IV has closed on eight deals since launching in May 2015 with about $164.4 million in private equity funding.