April 26, 2022 – The Connor Group sold L2 Uptown Apartments this month, its seventh transaction of the year. The Dayton-based real-estate investment firm acquired the property in May 2020 and, after 23-months, provided investor returns nearly five times larger than original projections. Financial details of the transactions are not being disclosed.
These exceptional returns directly resulted from Connor Group’s disciplined approach to buying and selling amid volatile market conditions. The company purchased L2 Uptown in the early months of the pandemic. The Connor Group expedited the L2 Uptown closing, executing the acquisition in less than six weeks. To put this in perspective, most multi-family real-estate purchase and sale agreements close in 60 to 90 days.
“L2 Uptown provided us a unique opportunity to enter a submarket we had been interested in for quite some time,” managing partner Larry Connor said. “While the majority of companies were running to the sidelines, we were all in.”
The operations team on the front lines also played a critical role in delivering returns five times larger than projected. They successfully positioned the property for sale during unprecedented market conditions. Bader Diamond Funds flawless execution as the purchaser contributed to the success of the transaction.
“The sale of L2 Uptown was the epitome of our teams working together at an elite level,” partner and VP Brock Wright said. “Outstanding property operations and market conditions created the perfect combination, and we are thrilled to continue delivering returns that exceed expectations.”
As part of the L2 Uptown sale, The Connor Group will give back more than $4.4 million in proceeds to the company’s non-profit arm, Kids & Community Partners.
“We believe organizations like ours who have been extremely successful have both the opportunity and the obligation to give back,” Connor said. “We don’t look at it as a gift. We look at it as an investment. Over the next decade, we anticipate investing $500 million in non-profit endeavors to help disadvantaged kids.”
About The Connor Group
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, Atlanta, Minneapolis, Chicago, Charlotte, Raleigh-Durham, Dallas, San Antonio, Denver, Indianapolis, Columbus, Cincinnati, Louisville and Dayton.