CB Richard Ellis Investors acquired the 270-unit apartment community, Connor Group said.
Centerville-based Connor Group said it bought the property for $26.5 million in 2006.
Managing Partner Larry Connor said the company this year will emphasize selling, rather than buying properties.
It has put 10 of its 60 properties on the selling block, executives said.
“For the first time in our history, we’re going to be a net seller,” Connor said. “And that’s simply because it’s a sellers’ market. Of all the real estate types, apartments are investors’ favorite. That’s especially true right now.”
Connor Group’s two largest property sales were Bristol Park in Georgia for $54.85 million in 2007 and Tuscany Villas in Texas for $35 million in 2010.
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