The acquisitions added 842 units to the company’s portfolio, which features properties in Atlanta, Charlotte, Cincinnati, Columbus, Dallas, Dayton and Raleigh-Durham.
“When the market dictates it, and when we can sell properties to maximize returns to our investors, we’ll sell properties,” said Connor Group Managing Partner Larry Connor. And when we find properties that fit our operational model, as these three do, we’re absolutely going to continue to buy.”
This week’s acquisition of Belmont increased the size of the company’s biggest portfolio, Atlanta, to 18 properties and more than 4,200 units, the company said.
The Connor Group started in Dayton in 1991 with $400,000 to purchase three apartment communities. The company now owns and operates more than $1.3 billion in assets. It specializes in high-end luxury apartment communities, owning and operating approximately 16,000 units.