Continental Realty Corporation (CRC), a Baltimore-based commercial real estate investment and management company with a national portfolio exceeding $2 billion, has announced the promotion of David P. Donato to Chief Operating Officer. Donato, who started with CRC in 2000, has deep experience with a range of asset types. He was formerly Senior Vice President, Multifamily and Commercial Division.
In his expanded scope, Donato will assume direct oversight of CRC’s accounting, information technology, investor relations, human resources and marketing functions. He will also continue to manage the operations of the company’s Commercial and Multifamily divisions which comprise more than five million square feet of commercial space and over 9,000 apartment homes across nine states. Since 2013 Donato has been a member of CRC’s Executive Committee, the management group which sets corporate strategy and steers the direction of company, and he will remain in this role.
“David has demonstrated tremendous commercial real estate capabilities, leadership skills and overall business acumen and intuition throughout his tenure with Continental Realty Corporation, and based on his skillset and familiarity with the organization, he represents the ideal professional for this important role,” stated JM Schapiro, CRC’s Chief Executive Officer. “David is highly respected throughout the industry, and CRC team members often rely on his sound advice and guidance. Within the past several years, he has assumed increased responsibilities with our fundraising and investor relations activities, which will continue to be a major point of emphasis in the future. Together with our extremely strong leadership and management team, CRC is ideally positioned for continued growth and momentum.”
Over the past several months, CRC has entered two new real estate markets with its acquisition of a nearly 150,000 square foot retail center in Lubbock, Texas, as well as a mixed-use property in The Lower Broadway corridor of downtown Nashville, Tennessee. The company also strengthened its position in other markets with the purchase of a multifamily community in Wilmington, North Carolina for $76 million and neighborhood shopping centers in Palm Beach County, Florida and Atlanta, Georgia. The company plans to announce additional acquisitions later this year.
“We intend to remain aggressive in our national pursuit of value-add assets, and will depend on David’s input to execute our acquisition strategy and due diligence process,” Schapiro said. “His input in shaping our corporate culture and sharpening our mission has been invaluable and we will continue to rely on his influence and creative thinking as we grow and move forward in a positive direction.”
Donato earned a Bachelor of Arts degree with a double major in Government and English Language and Literature from Dartmouth College, as well as a Master of Business Administration from Loyola University Maryland. He volunteers his time with several community-oriented non-profit organizations, including Bridges Baltimore.
“Not only has Continental been my home for most of my career, but it is also a fantastic place to work,” explained David Donato. “The company is regularly included on the list of Top Workplaces in Baltimore and, this past year, Top Workplaces in America. Continental’s growth in the past ten years has been remarkable, and there is so much more to come. I am honored to take on the role of COO at Continental.”
Headquartered in Baltimore and founded in 1960, Continental Realty Corporation is a full-service commercial real estate and investment company focused on acquiring and operating retail and multifamily properties. The privately-held firm owns and manages a diversified portfolio of retail centers consisting of more than five million square feet of commercial space and over 9,000 apartment homes across nine states, with a portfolio value exceeding $2 billion. For additional information, visit www.crcrealty.com
