Real estate investment firm continues growing portfolio amid challenging times

Real estate investment firm expands Music City portfolio

A $1.6 Million Surprise DAYTON, OH – April 22, 2020 – The owner of an Ohio-based real estate investment firm last week made a company-wide announcement that he’d made $1.6 million on the stock market in the span of eight days. He then informed his employees that he’d be paying out every dime of it in bonuses to them, for their work and dedication throughout the coronavirus outbreak. “These are challenging times,” said Connor Group founder and CEO Larry Connor, who announced the bonuses via video. “But the way our people have responded has been nothing short of heroic. Our No. 1 core value is ‘Do the right thing.’ So when I think about how I made the money compared to what our associates do on every day, to me, (paying the bonuses) was the right thing to do.”   Bonuses are being paid to all non-highly-compensated associates who started with the company prior to March 1. The Connor Group owns and operates luxury apartment communities in 14 markets around the U.S. and has roughly 400 associates. Bonuses ranged from $2,000 to $9,000. “We believe in leading from the front,” Connor said. “And in trying times, that means more than […]

The Connor Group’s sale of Ashton Brook, a 390-unit luxury apartment complex in Franklin, TN set the record as the top Tennessee multifamily transaction in 2018. Multifamily Housing News published the list Wednesday, noting The Connor Group sold the property for $86.5M, or $221,795 per unit last September. This was the first sale The Connor Group completed in the company’s Nashville market. Ashton Brook was purchased in 2013 for $60.5 million. Over the course of five years, associates at the property were able to increase the annual revenue by $1 million. Connor Group investors received a 118 percent return on their investment. “The key to our success in Nashville is a direct result of having the right people in place to execute our systems. Thanks to our dedicated team – and their relentless pursuit of excellence – we are able to provide our investors a significant return on their investment,” Managing Partner Larry Connor said.

The Connor Group, a Dayton-based real estate apartment investment firm, has acquired its first community in Minneapolis for $97.5 million. Excelsior & Grand is in the submarket of St. Louis Park, a trendy area amid high end shopping, dining and access to downtown as well as the suburbs. “This apartment community has a ‘village feel,’” said Connor Group Managing Partner Larry Connor. “It reminds me of a ski lodge common area, like something you’d see at a resort in Colorado.” The community has 337 units and is walking distance to Lake Calhoun. Calhoun has a 3.5 mile trail around it for bicycling, skating or walking, and it also has swim beaches and a yacht club. “We are looking forward to being in the Minneapolis market,” Mr. Connor said. “This is a great way to start in our opinion, with a high-end community in a well-established area. We look forward to growing in this region.” The Connor Group has $1.2 billion in assets. The Minneapolis market is the 11th market for the company, which started with 3 Dayton area communities in 1991-92.