New Name Reflects Company Growth over 37-years in the Multi-family Real Estate Industry

Continental Realty Advisors (CRA) announced today that after 37 years in business, its name is changing to Continental Realty Group, Ltd. to better reflect its expanded business platform that encompasses not only acquisition, disposition and ownership, but ground-up development of multi-family properties.

Established in 1982, the firm has constantly evolved to adapt to real-time changes in the real estate investment industry. Prior to 2007, CRA primarily operated as a multi-family advisor to pension funds and institutions looking to adopt or grow a business line in the multi-family sector.

Since then, the company has morphed into a multi-family sponsor, branching out into ownership and real estate fund executions. It has now successfully operated in that capacity for over a decade, participating in over $1.6 billion in acquisitions, renovations, and dispositions. It now is launching a new subsidiary to focus on developing apartment communities which enhance the surrounding community.

“The new name reflects who Continental is today,” said David Snyder, President and Chairman of the Board. “As we continue to grow, we feel it appropriate our name better reflect both our current operations and future endeavors. Continental Realty Group will become the parent company of CRA’s existing operations, as well as a new venture into multi-family development. We are proud to have assembled such an experienced team, all of whom have contributed to our continued success in multi-family real estate. Though our name is changing, our data-driven approach to investing in multi-family properties located in the path of demand will continue to be our focus.”

Continental Realty Group is made up of two subsidiaries: Continental Realty Development, its development platform; and Continental Realty Assets, which houses its existing multi-family platform.

The new development branch is being spearheaded by Anna Goodrich and Ryan Snyder, with the goal of developing workforce housing in Colorado and other select markets.

“We strongly believe that density, affordability and sustainability are key factors in addressing the housing needs in our communities,” said Ryan Snyder. “Our current focus is to deliver more workforce housing to high cost markets as well as land acquisition in opportunity zones.”

Continental Realty Advisors Ltd. “CRA”, a Denver-based owner of multifamily communities nationwide, and San Francisco-based real estate investment firm The Roxborough Group, LLC, through an affiliate of Roxborough Fund I, L.P. announced the sale of a three-community portfolio comprised of 1,194 units in Las Vegas for $137.5 million. This follows the recent sale of the 400-unit community Tesoro Ranch in Henderson, NV, also a partnership between Continental Realty Advisors, Ltd. and The Roxborough Group, LLC. 

The Las Vegas portfolio included the 440-unit Stonegate Apartments constructed in 1990/91, 402-unit Loma Vista Apartments constructed in 1998, and 352-unit Viridian Palms (formerly Stonegate West) constructed in 1990. 

“The business plan hinged on stabilizing what was perceived at the time of acquisition to be underperforming properties,” said David Snyder, Chairman & CEO of CRA. “This was achieved with strategic oversight, upgrades to the community common areas and amenities, as well as light value-add unit enhancements to appeal to the demographics of each location.” 

In total, over $5 million was invested into repairs and improvements. The execution of this plan created more desirable communities for residents and generated pleasing results for its owners, while also positioning the properties for potential full interior renovation in the future.

“CRA and Roxborough’s strategy of uncovering ‘dislocations of asset value’ proved highly effective in our ownership of these properties,” Snyder said. “I am proud of our team, from conception of the initial business plan to the hard work of the asset and renovation managers in executing our vision, as well as on-the-ground property management.”

“This portfolio validates one of Roxborough’s primary investment strategies focused on workforce housing and the fundamental imbalances between low cost housing and supply in areas of high job and net migration. This partnership spent considerable time studying the Las Vegas market and was able to acquire assets before the recent surge of capital inflows. We are very proud this partnership has successfully executed on two investments in the area and we look forward to many more,” said Matt McCormick, Managing Director of The Roxborough Group.