The Connor Group makes twin NC purchases

The Cielo apartment complex in Charlotte, N.C., recently acquired by a Dayton-area real estate investment company. Contributed
The Cielo apartment complex in Charlotte, N.C., recently acquired by a Dayton-area real estate investment company. Contributed

The Miami Twp. company has closed on half-a-billion in deals this year.

The Connor Group has closed on dual new property investments, both in Charlotte, N.C.

Those deals come on the heels of a separate acquisition just a week ago, closing $206.5 million in acquisitions in seven days. Financial details of the most recent transactions were not disclosed.

“Our people have done nothing short of a phenomenal job leveraging relationships in key markets and finding properties that fit our long-term strategy,” managing partner and CEO Larry Connor said in a release this week.

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The Connor Group finds apartment properties that company leaders believe are poised for future appreciation. They acquire the properties, focusing on customer service and improvements, then sell them when the time is right.

These are the firm’s fifth and sixth acquisitions of 2020. The business now operates 869 units in Charlotte, more than doubling its footprint in the market in just one day.

The Miami Twp.-based company has closed or placed under agreement a total of $542.1 million in transactions this year.

“We are always interested in buying,” Connor said. “Over the last five years, we’ve remained disciplined and only buy deals that will deliver exceptional returns for our partners and investors. We’re thrilled to be growing in Charlotte.”

One of the properties, named “Cielo,” offers residents what the firm described as “upscale living with open-concept layouts and first-in-class amenities, including a resort-style saltwater pool and a state-of-the-art fitness center.”

The other acquisition, Greenway at Mallard Creek, is minutes away from The University of North Carolina-Charlotte.

The Connor Group today owns and operates 13,000 units in 43 luxury apartment communities across the country.