Continental Properties Closes Development Fund IV at $203 Million

Continental Properties Company Inc. has fully closed Continental Properties Real Estate Development Fund IV LP with $203 million in total capital commitments, the company announced Oct. 15.

The Menomonee Falls, Wis.-based developer launched Fund IV in November 2025 with a fundraising target of more than $200 million. At the time, Continental said the fund would put capital only into entitled, shovel-ready sites in suburban markets across the Southeast, Midwest, and Mountain states. The minimum investment was $250,000.

At close, Fund IV had roughly 300 accredited investors, more than 80% of whom had committed capital to prior Continental funds, the company said.

Continental said it expects the fund to develop 10 to 15 suburban multifamily communities under its Springs Apartments and Authentix Apartments brands. The projects will come from a pipeline that has already received initial investment committee approval, and the company expects to invest the fund’s capital by the end of 2027. The company said the first four deals are in Alabama, Florida, Michigan, and Wisconsin.

Springs Apartments are low-density communities made up mostly of direct-access homes. Authentix Apartments are garden-style communities.

“Multifamily construction starts have declined dramatically since the peak in 2022, and much of the development we’ve seen in recent years has been focused exclusively on the luxury segment at the expense of the middle market,” said Jim Schloemer, co-founder and chief executive officer, who recently served as chair of the National Multifamily Housing Council. “That widening gap between supply and demand, combined with a historically wide affordability gap between renting and owning, gives us real conviction in Development Fund IV’s strategy of building workforce-attainable suburban housing in under-supplied markets.”

Kim Grimm, executive vice president and chief development and construction officer, said the commitments put the firm “in a competitive position to look at compelling opportunities in the market, and we’ll continue to be selective in pursuing those that best fit our strategy.”

Continental said it has raised about $2 billion across its private real estate funds since late 2019, including Income Funds I-V, Development Funds I-IV, an Opportunities Fund, a Bridge Fund, and the Lily Cache Fund. Its predecessor, Development Fund III, raised $210.5 million.

Founded in 1979, Continental reports about $6 billion in assets under management. The company said it has developed or acquired more than 145 apartment communities, totaling about 40,000 units, across 21 states.

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