Connor Group completes largest sale in company history

Centerville-based real estate investment firm The Connor Group has completed the largest property sale in the company’s history, officials said Monday.

The Connor Group on Friday sold a luxury apartment community in Alpharetta, Ga., for $70.5 million. The company sold the property, Addison Place, to Resource Real Estate.

The Connor Group purchased the property for $60 million in 2008, two months before the start of the global financial crisis. At the time, it was the largest acquisition the company had ever made.

“Obviously, that’s not an ideal situation,” said Larry Connor, managing partner, in a statement. “But, as a company, we decided that we weren’t going to participate in the Great Recession.”

Connor said the company invested in the property and its people, and in less than six years was able to maximize its investors’ returns.

The transaction was The Connor Group's second sale in as many days. On Friday, the Dayton Daily News reported that the firm sold an apartment community in Raleigh, N.C., for $38.4 million.

The company also has made three acquisitions in 2014 totaling nearly $100 million.

The Connor Group was founded in 1991 in Dayton. It now owns more than $1.5 billion in assets.

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