Continental Properties Company, Inc., a privately held national multifamily and commercial real estate developer, owner, and operator, closed its eighth commingled real estate fund, Continental Properties Real Estate Opportunities Fund I, L.P., at $105 million.

The capital will be used to acquire predominantly multifamily communities in markets where Continental currently operates.

The Milwaukee, WI-based firm has a long history in multifamily rental housing, primarily as a developer and operator of its branded communities – Springs Apartments, Authentix Apartments, and Avanterra Homes.

“Continental sees the current market disruption and debt-related distress as an opportune time to acquire quality multifamily properties located in existing Continental markets at significant discounts to what it would cost to build today,” said Ed Madell, CFO. “This fund represents a new opportunity for our team and our investors to capitalize on the current volatility and uncertain market conditions.”

Dan Minahan, president, and COO highlighted that despite the volatile interest market and a slowdown in capital markets activity, the firm raised the capital in a “short timeframe.”

Continental Properties has raised nearly $1.5 billion since the end of 2019 and has developed over 129 apartment communities encompassing more than 34,000 apartment homes in 19 states.