Miami Twp. real estate investment firm The Connor Group says it has surpassed $1 billion in property sales this year.
The company closed its eighth property sale of the year in August, passing $1.02 billion in dispositions.
With the recent closing on an Austin, Texas property, Barton Creek Villas, the business says it has on average delivered a 56% internal rate of return to investors year-to-date.
“We took full advantage of the market, selling properties at unprecedented prices, with unprecedented returns,” managing partner Larry Connor said in a release. “As a result, we’ve been able to deliver outstanding results to our investors.”
Credit: Dayton Daily News
Credit: Dayton Daily News
Credit: Dayton Daily News
Credit: Dayton Daily News
On the buy side, Connor Group closed or placed under agreement six sites in 2022 for $442.6 million. That included a recent deal in Minneapolis, whose financial details were not disclosed.
Connor says he welcomes “uncertainty” in the market.
“Right now, the vast majority of investor capital is sitting on the sidelines. We take the exact opposite approach. We run to, in a disciplined manner, the opportunity,” he said.
More than $12.4 million in proceeds from property sales have been distributed to Kids & Community Partners, the company’s non-profit arm, which is dedicated to serving under-resourced children in the markets in which it operates, the business said.
About the Author
Thomas Gnau is a business reporter who joined the Dayton Daily News in 2007. He has reported for daily newspapers in Ohio since 1991.
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