News
CONTINENTAL FUND NEAR CENTURY MARK
July 23, 2012
| 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?) | ||
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| 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. | ||
