The new activity spanned five different markets — Minneapolis, Raleigh-Durham, Atlanta, Fort Worth and Indianapolis.
“Market uncertainty, paired with rapidly rising interest rates, have created tremendous buying opportunities,” managing partner Larry Connor said. “While others are running to the sidelines, we are running towards the opportunities in a disciplined manner.”
The acquisitions — The Coil (Indianapolis), Dock Street Flats (Minneapolis), Flats at Perimeter Place (Atlanta), Trinity Commons and Bradford Apartments (Raleigh-Durham) — added 1,391 units to the company’s portfolio.
The Connor Group did not disclose purchase prices.
In Fort Worth, the company sold Firestone West 7th. The transaction marks the company’s 10th property sale of the year.
More than $2.6 million in proceeds from that sale will directly benefit The Connor Group Kids & Community Partners, the company’s non-profit arm dedicated to under-resourced children in Connor Group markets, the company said.
“We’ve been incredibly fortunate, and we believe we have both the opportunity and obligation to give back,” Connor said. “Through Kids & Community Partners, we’re able to provide game-changing benefits to kids through our own in-house programs, as well as our investments in other organizations we partner with.”
Kids & Community Partners plans to invest roughly $500 million in non-profit endeavors over the next decade.
The company says it is on track for another record-setting year with plans to expand into multiple new markets, including Miami and Ft. Lauderdale next month.
The business closed or placed under contract more than $3 billion in property sales, acquisitions, refinances and supplemental loans year-to-date.
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