“The Tampa market is one where we’ve been incredibly successful, and we are excited to expand our portfolio,” managing partner Larry Connor said in an announcement. “The Boulevard is a Class-A asset, in an excellent location and it fits our business model.”
The transaction expands the Connor Group’s portfolio to 12,971 units across 17 markets.
And the purchase comes after what the company describes as a record-setting year, in which the business closed more than $3 billion in transactions during increasingly challenging times.
“Over the last eight months, we’ve seen the number of potential acquisitions coming through the pipeline shrink three-fold,” Connor said. “In markets like this, we’ve always maintained a disciplined approach and ran toward the opportunity.”
The company said it plans to enter new markets over the next five years.
“We have a proven track record over the last three decades of operating at an elite level regardless of market conditions. It comes down to having the right people, plans and processes,” Connor said.
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