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Local real estate firm sells apartments for $86.5M

Miami Twp.-based Connor Group sold its Ashton Brook apartment complex in Franklin, Tenn. for $86.5 million.

The real estate investment firm bought the building for $60.5 million in 2013 and increased the annual revenue by $1 million over the last five years, according to a company statement.

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The 390-unit luxury apartment complex is the fourth property sale for the Connor Group this year. It plans to complete more than $1 billion in transactions by the end of 2018.

The firm owns luxury apartments in Ohio, among other metros like Austin, Nashville, Atlanta, Minneapolis, Chicago, Charlotte, Raleigh-Durham, Dallas and Denver.

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The company has more than $2.2 billion in assets, according to the release.

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