June 13, 2023 – The Connor Group, a leading real estate investor and operator specializing in luxury apartment communities, officially expanded into Phoenix, Arizona, entering its 18th market. The Dayton-based firm closed on the purchase of The Aston Scottsdale, formerly known as Alta Raintree. Purchase price was not disclosed.
“We’re thrilled to enter the Phoenix market. We’re incredibly enthusiastic about the opportunities in this area not only for our investors but for our associates,” said managing partner Larry Connor. “When we look to enter a new market, we’re looking to enter it for the long-term. So, we have specific criteria a city must meet. Phoenix is a thriving city, and this market checked all the boxes for us.”
Aston Scottsdale is a 330-unit luxury apartment community located in the North Scottsdale submarket, with spacious one-, two- and three-bedroom floor plans. Each unit features modern architectural finishes with high-quality amenities and stunning views of Downtown Scottsdale and the McDowell Mountains from the property’s sky lounge. Additional amenities include an UrBo Market, resort-style pool, fitness and yoga studios, putting green, dog park and more.
The Connor Group is confident expansion in the Phoenix area fits the organization’s long-term business model. This lifestyle city positions the company to complete multiple transactions per year in an area poised for job growth and rich with quality labor.
“Over the company’s 31-year history, we’ve built a proven track record of success regardless of market conditions,” said partner and chief executive officer Bob Lloyd. “It comes down to our people, executing our proven systems and processes.”
The Aston Scottsdale is the company’s third acquisition of 2023. The organization has closed or placed under agreement $464.3 million in acquisitions this year.
About The Connor Group
The Connor Group is one of the country’s top privately held real estate investors and operators with a 31-year track record of innovation, accelerated growth, and industry-leading investment returns. Based in Dayton, Ohio, The Connor Group was founded in 1992 and has grown from $0 to $4 billion in assets. With a portfolio encompassing more than 13,000 luxury apartments across 18 markets, The Connor Group is committed to providing exceptional living experiences, focusing on quality, innovation, and resident satisfaction.
The firm’s unconventional approach is distinguished by its strong focus on core values, performance-driven culture, relentless focus on operational excellence, and disregard for conventional wisdom, allowing it to outpace competitors and deliver consistent, top 1% results to its investors for three decades.
Partner, Director of Communications