The company described the acquisition as “a 390-unit gated community in the vibrant Cool Springs submarket of Franklin (Tenn.). Amenities include resort-style pools, fitness center, tennis courts, pet park and garages.”
“We’ve watched Nashville for years,” company managing partner Larry Conner said in the company’s statement. “We love the growth and the dynamics of the market.
“In fact, we recently completed a strategic planning process to map out company growth. Part of that plan was new markets, and Nashville was at the top of the list,” he added.
A story in the Tennessean, a Nashville newspaper, says the Connor Group paid “a record price for a multifamily housing property in the Nashville area this year.”
The company could enter two to three new markets in the next five years, it said.
The Connor Group, which started in 1991 with $400,000 to buy three apartment communities in Dayton, now has more than $1.5 billion in assets.
It owns communities in Atlanta, Austin, Charlotte, Cincinnati, Columbus, Dallas, Dayton, Nashville and Raleigh-Durham.
About the Author
