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.