Miami Twp.-based Connor Group is announcing a $108 million deal in the Minneapolis area.
The real estate investment firm is making its second acquisition in that market, closing on a property called “City Walk at Woodbury” Monday.
The deal marks the Connor Group’s 171st transaction in its 27-year history, the company said in a release.
City Walk at Woodbury is a 453-unit property, with 79 condominiums located in the Woodbury submarket — a Minneapolis-St. Paul Eastern suburb.
In 2018, Money Magazine nationally ranked Minneapolis No. 10 on its list of “best places to live in America,” the Connor Group said.
The newly acquired property includes 22,795 square feet of retail space and is easily accessible to major employers including 3M, Hartford Insurance, the Anytime Fitness headquarters and Marathon Oil among others, the firm said.
“Residents can enjoy a best-in-class clubhouse with a fitness center, indoor basketball court, virtual golf, pub room, indoor swimming pool, children’s playroom, sauna, and tanning,” the local company said. “More than 130 miles of Woodbury’s walking paths and trail systems are easily accessible from the property.”
The Connor Group first entered the Minneapolis market in March 2016. The business now owns 37 properties in 13 markets, including the new apartments in Minneapolis.
The Connor Group finds promising apartment properties that company leaders believe are poised for future appreciation. They acquire the properties, then sell them when they believe the time is right.
Over the past year, the Connor Group closed and placed under agreement $760.8 million in acquisitions in cities such as Minneapolis, Fort Worth, Louisville, Chicago and Atlanta.
Executive Vice President Keith Collins, CBRE, represented the seller in the transaction.
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