Continental Realty Corp. is keeping up its recent buying spree with a $93 million acquisition of five shopping centers in the retail-rich Chicago suburbs.
The growing Baltimore real estate company acquired the centers in Cicero, Mount Prospect, Naperville and Palatine, Illinois, from the DiMucci Cos. Tucker Development, a Chicago-based real estate and development firm, acted as an acquisition and development consultant on the transaction.
“Our expansion into the Chicago suburbs was opportunity-driven, given the portfolio’s irreplaceable assets and strategic positioning,” JM Schapiro, CEO of Continental Realty Corp., said in a news release announcing the deal on Tuesday night. Schapiro’s company said it now owns and manages a diversified portfolio of more than seven million square feet of commercial space and approximately 9,000 apartment homes across 11 states. The portfolio’s value exceeds $3.3 billion.
