The company purchased Waterford two years ago for $27.6 million and sold it for $53.25 million.
“When we purchased Waterford Place, we knew it had the potential to deliver outstanding returns to our investors, but with the right people, plans and processes, we’ve exceeded expectations,” managing partner Larry Connor said in a release. “We’ve seen unprecedented demand across the country for apartments amid volatile market conditions. And we believe, at least for the foreseeable future, that will continue.”
The Connor Group also closed transactions in Louisville and Chicago last month.
The company has closed or placed under agreement nearly $2 billion in transactions so far in 2022.
Year-to-date, $12.4 million in proceeds from those sales have been distributed to Kids & Community Partners, the company’s non-profit arm.
The company’s business model focuses on acquiring under-performing properties and selling them at the right time to maximize returns for investors.
About the Author
