The Connor Group’s transaction volume and earnings skyrocketed over the past decade, breaking company records in 2016, according to the company.
Earnings moved from $25 million in 2006 to $147 million in 2016, while transaction volume rose from $346 million in 2006 to $1.4B in 2016. Investor raises jumped from $31 million to $290 million in the same timeframe.
The Miami Township, Ohio-based real estate investment firm focuses on Class A communities in Austin, Nashville, Atlanta, Minneapolis, Chicago, Charlotte, Raleigh-Durham, Dallas, and in Ohio. Its 400 associates are focused mostly on property operations.
The firm intends to sell $450-$550 million in assets in 2017, and acquire another $300-400 million. While The Connor Group could make up to a billion in acquisitions with its current finances, current market conditions have led it to take a “pretty conservative” approach on new additions, according to Managing Partner Larry Connor.
“We’re going to be very selective. We believe the real estate market— and specifically the apartment market—is in a period of transition because we’ve been in such a strong seller’s market for the last 3+ years,” he said.
Connor believes the company is on track to do $2B in transactions per year by 2020.
