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.

Dayton-based real estate investment firm The Connor Group, which specializes in luxury apartment communities, on Thursday made its first venture into the Chicago market with the acquisition of the $61.75 million Glenmuir in Naperville. “We’ve always believed in smart growth, not growth for growth’s sake,” said managing partner Larry Connor. “Last year, we went through months of strategic planning. In that process we decided that, in order to produce the kind of growth we wanted, we needed to enter two or three new markets. And Chicago was near the top of the list.” Chicago is the company’s 10th market. It also operates in Atlanta, Austin, Charlotte, Cincinnati, Columbus, Dallas, Dayton, Nashville and Raleigh-Durham. “We want to buy the best properties in the best locations,” said Connor. “Glenmuir is right in line with that strategy.” Glenmuir is located approximately 40 miles west of downtown Chicago. Just last month, Money Magazine ranked Naperville 33rd on its annual “Best Places to Live” list. Glenmuir’s grounds are accented by three lakes, a resort-style pool and spa. The apartment homes feature townhome-style entries, fireplaces and gourmet kitchens. The Connor Group, which started in 1991 with $400,000 to purchase three apartment communities in Dayton, now has […]

Dayton, Ohio-based real estate investment firm The Connor Group on Tuesday made the largest acquisition in company history with the purchase of a recently-completed mixed-use apartment and retail space in Nashville. The company acquired the 331-unit Elliston 23 from 2300 Ellison Place LLC. Although specific financial information was not disclosed, The Connor Group confirmed the transaction was the highest-priced acquisition in company history. “No matter the size or cost of an acquisition, we are always very disciplined in our underwriting processes,” said managing partner Larry Connor. “Not only is Elliston an incredible property, it’s a fantastic fit for our operational model.” Elliston 23, located in Nashville’s West End submarket, was completed in 2013. The Connor Group, which specializes in Class A apartment communities in Class A locations, last year entered the Nashville market with the $60.5 million acquisition of Ashton Brook. Connor said the company has had its eyes on Nashville for years and has become more interested since its initial purchase there. “At the end of the day, our people dictate whether or not we expand in a particular market,” he said. “We have a great team in place in Nashville and they’re ready to grow our operations there.” […]