Aug. 5, 2020 – The Connor Group acquired Waterford Place in Murfreesboro Tuesday, expanding its Nashville portfolio for the first time since 2014. The real estate investment firm has closed or placed under agreement $342.1 million in transactions since the beginning of the year. Financial details of the Nashville transaction are not being disclosed.
The Connor Group’s offer surpassed 21 other competitors, securing the deal amid market disruption and the coronavirus pandemic. The company’s long-standing reputation and assurity to close ultimately made the Dayton-based company stand out among nearly two dozen other offers.
“When we commit on a transaction, we’re all in,” managing partner and CEO Larry Connor said. “The current market turmoil continues to create opportunities for companies like ours who think long-term and are open for business.”
Waterford Place is the Connor Group’s third transaction this year, and its third transaction in the Nashville market since the company was founded nearly 30 years ago.
“We believe that people lead growth, not the other way around,” said Connor, whose company has continued hiring despite the Covid-19 pandemic. “So whether it’s Nashville or one of our other markets, if we have the right people in place we’re going to aggressively look for potential acquisitions that fit our model.”
The Connor Group broke records in Nashville with their last acquisition of Elliston 23. The $95.5 million purchase was the highest price per unit sale in Tennessee at the time. Waterford Place in Murfreesboro is located approximately 30 miles southeast of downtown Nashville in a quaint, suburban area. The property offers access to downtown, is conveniently located in the heart of dining, shopping and entertainment.
The Connor Group currently owns and operates 40 luxury apartment communities in 14 markets across the country.