Continental Properties, a real estate developer specializing in suburban residential communities, has announced the closing of its ninth private real estate fund. The fund, named Continental Properties Real Estate Development Fund III, L.P., raised approximately $210 million to support the development of suburban apartment communities.
Jim Schloemer, co-founder and CEO of Continental Properties, acknowledged that this round of fundraising faced greater scrutiny compared to previous efforts. He stated that investors required a deeper understanding of the company’s strategy, market outlook, and overall philosophy before committing.
The Milwaukee-based company plans to use the fund to develop 14 to 16 properties, with an estimated aggregate stabilized value exceeding $1 billion. Schloemer explained that the company continuously reviews metropolitan statistical areas (MSAs) to assess factors influencing market demand and absorption. The targeted markets for the new properties may include areas where Continental Properties has not previously operated.
The company’s portfolio includes three core brands: Springs Apartments, Authentix Apartments, and Avanterra Homes. These developments are located in suburban areas across the Midwest, Sun Belt, and Mountain states. “Our branded product requires suburban locations, and in some cases, exurban markets,” Schloemer said, emphasizing the company’s distinctive approach to site selection.
Since 2019, Continental Properties has raised $1.7 billion, growing its portfolio to a total value of over $5 billion. In 2024, the company broke ground on 3,517 residential units, marking its second-highest annualized development volume. Schloemer projected a similar pace for 2025, estimating the delivery of more than 3,000 homes barring significant market changes.
With its latest fund, Continental Properties continues to focus on delivering high-quality residential communities that cater to suburban and exurban markets. The company remains committed to strategic growth and adapting to evolving market conditions.
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By Proptechbuzz
By Ravi Kumar
