Nov. 30, 2022 – The Connor Group bought five luxury apartment communities and sold one in November, totaling $545.5 million in transactional volume. The Dayton-based real estate investment firm’s latest flurry of activity spanned five different markets – Minneapolis, Raleigh-Durham, Atlanta, Fort Worth and Indianapolis.
“Market uncertainty, paired with rapidly rising interest rates, have created tremendous buying opportunities,” managing partner Larry Connor said. “While others are running to the sidelines, we are running towards the opportunities in a disciplined manner.”
The acquisitions, The Coil (Indianapolis), Dock Street Flats (Minneapolis), Flats at Perimeter Place (Atlanta), Trinity Commons and Bradford Apartments (Raleigh-Durham), added 1,391 units to the company’s portfolio. Purchase prices were not disclosed.
In Fort Worth, the company sold Firestone West 7th. The transaction marks The Connor Group’s 10th property sale of the year. The unique urban luxury apartment community is built around the historic 1920s Firestone Tire Shop in downtown Fort Worth. More than $2.6 million in proceeds from the property sale will directly benefit The Connor Group Kids & Community Partners, the company’s non-profit arm dedicated to serving under-resourced children in Connor Group markets.
“We’ve been incredibly fortunate, and we believe we have both the opportunity and obligation to give back,” Connor said. “Through Kids & Community Partners, we’re able to provide game-changing benefits to kids through our own in-house programs, as well as our investments in other organizations we partner with.”
Kids & Community Partners plans to invest roughly $500 million in non-profit endeavors over the next decade.
The company is on track for another record-setting year with plans to expand into multiple new markets, including Miami/Ft. Lauderdale next month. The Connor Group closed or placed under contract more than $3 billion in property sales, acquisitions, refinances and supplemental loans year-to-date.
The Connor Group, founded in 1992, has grown from $0 to $3.5 billion in assets. Along the way it has been recognized as a top-50 workplace nationally by Glassdoor, as well as a multi-award winner nationally by Comparably (Best Company for Women, Best Culture and Best Compensation). The Connor Group owns and operates luxury apartments in Austin, Nashville, Tampa, Denver, Minneapolis, Chicago, Charlotte, Raleigh-Durham, Dallas, San Antonio, Atlanta, Indianapolis, Columbus, Cincinnati, Louisville and Dayton.
Partner, Director of Communications