MENOMONEE FALLS, WI – Continental Properties Company, Inc. a privately held national multifamily and commercial real estate developer, owner, and operator has announced the closing of its first development fund, Continental Properties Real Estate Development Fund I, L.P. The fund closed in January with a total raise of $180 million of equity and will invest in suburban apartment communities developed and managed by Continental Properties with a total projected construction cost of over $700 million.
“We believe strongly in our suburban multifamily strategy, and our investors have benefited greatly from the growth in suburban employment and population. Stronger rent growth and demographics favor developing and owning suburban multifamily real estate. We are confident in the markets we have targeted for development and are pleased with the strength of our development pipeline. The Development Fund gives Continental and its investors an opportunity to invest in a geographically diverse portfolio of high-quality apartment communities,” said Jim Schloemer, Founder and Chairman of Continental Properties and Treasurer of the National Multifamily Housing Council.
“Continental Properties has been executing on its suburban multifamily strategy with fantastic success for over 20 years and recognizes that long-term fundamentals will support multifamily development well into the future. Trends in renter preferences, combined with the supply and demand metrics in our targeted development markets, continue to support our suburban strategy and positions us well to achieve outstanding returns for our investors,” stated Dan Minahan, President and COO.
Interest in the Development Fund surpassed initial expectations. “We saw very strong interest from both our long-time investors who have trusted Continental with their investments for years as well as from new investors looking for ways to diversify their portfolios and invest with a proven real estate sponsor. We are grateful for the continued trust that our investors have placed in us, and we are highly committed to delivering outstanding results,” commented Ed Madell, EVP and CFO.

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PORTLAND, OR – San Francisco-based real estate firm Hamilton Zanze (HZ) has bought the 145-unit Courtyards at Cedar Hills community in Beaverton, Oregon. The buy marks the firm’s seventh acquisition in the Portland metro area.
Built in 1969 and 1975, Courtyards at Cedar Hills comprises 145 one-, two-, and three-bedroom units averaging 900 square feet. Community amenities include an indoor pool, fitness center, laundry facilities, playground, and Amazon HUB package lockers.
“We are excited about the opportunity to buy in Beaverton, OR and to further expand our presence in the Portland MSA,” said David Nelson, managing director of acquisitions for Hamilton Zanze. “Courtyards at Cedar Hills is conveniently located near Oregon Route 217 and U.S. Route 26, which provide residents simple access to Downtown Portland and other major employment centers.”
HZ’s capital improvements plot includes unit renovations, pool and landscaping enhancements, asphalt and roofing repairs, and fresh exterior paint. Management of the property has also been transitioned to HZ affiliate Mission Rock Residential, a Denver based company.
The community is located at 13643 SW Electric St, two miles from the Nike World Headquarters in the desirable East Beaverton submarket. As of 2020, Nike employed over 76,000 people worldwide and 12,000 at their headquarters in Beaverton. The property also lies 10 miles west of Downtown Portland, which has been dubbed the “Silicon Forest” for its quick-growing hub of high-tech and life science technology companies. The metro benefits from a young, educated workforce and has ranked among the top-five places for business by Forbes for the past five years.

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CHESAPEAKE, VA – Capital Square 1031, a leading sponsor of Delaware statutory trust (DST) offerings for 1031 exchange and other accredited investors, announced the acquisition of Streets of Greenbrier, a 280-unit multifamily community in Chesapeake, Virginia, a city in the Hampton Roads region. The property was bought for CS1031 Streets of Greenbrier Apartments, DST, a Reg. D private placement.
“Chesapeake is part of Virginia’s Hampton Roads region, which includes the neighboring cities of Norfolk, Virginia Beach, Portsmouth, Suffolk, Hampton and Newport News,” said Louis Rogers, founder and chief executive officer of Capital Square. “Together, these cities complete a dynamic MSA of nearly 1.8 million people, with a large and growing millennial population. The region has one of the highest percentages of residents in the prime rental ages of 20 and 35 and was recently ranked by Time Magazine as the number one region in the Unites States for attracting millennials.”
Located at 929 Wintercress Way, Streets of Greenbrier was constructed in 2013 on 13.78 acres of land. The community consists of nine residential buildings and includes studio, one-, two- and three-bedroom units ranging in size from 516 square feet to 1,286 square feet.
Rogers added, “Capital Square is bullish on our home state of Virginia, which has a booming economy, increasing employment base and growing need for quality housing. Forbes recently ranked Virginia as the fourth best state for business. Amazon is a recent illustration, bringing 25,000 jobs to the state with its $2.5 billion HQ2 development.”1
Community amenities include pocket parks with covered swings and grilling stations, a sun deck with Wi-Fi access, a grand oasis-style pool, 24-hour fitness center, poolside grilling area, an outdoor poolside fireplace and TV, as well as a fireplace lounge. Additional amenities include a billiards area, dog park, picnic area near a pond, a free car wash/car vacuum station, valet waste service and onsite recycling.
CS1031 Streets of Greenbrier Apartments, DST seeks to raise $35.5 million in equity from accredited investors and has a minimum investment of $50,000.
“Streets of Greenbrier is a quality community, well-located in the transportation hub of the Hampton Roads region, allowing residents to capitalize on immediate access to major employers, as well as high-quality retail, dining and entertainment options,” said Whitson Huffman, chief strategy and investment officer. “The community provides residents with convenient access to Interstates 64, 264, 464 and 664 –four major Virginia highways. Through a light value-add strategy, Capital Square intends to increase revenue and the residual value of the property.”

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