Texas activity continues for Connor Group


Texas Business reports: The Connor Group, an Ohio-based real estate investment firm on Friday closed the sale of Ranch at Ridgeview in Plano.

It was the company’s fourth transaction in Texas since March. In that span, the firm bought a new property in Frisco, opened a new market with the purchase of another in Austin and sold a pair of properties in the Metroplex.

 The entity CAF RAR SPE LLC bought the Ranch at Ridgeview. Financial details of the sale were not disclosed.

 The Connor Group bought the 288-unit Ranch at Ridgeview in 2006 for $21.65 million.

 “We see great value in both our Texas markets and we’re very excited about the direction our operations are heading in both markets,” said managing partner Larry Connor in a prepared statement. “So we’ll continue to pursue opportunities in both the Metroplex and in Austin.”

 The Connor Group started in 1991 with $400,000 to purchase three apartment communities. It now owns more than $1.4 billion in assets. It specializes in high-end luxury apartment communities and now owns and operates approximately 16,000 units.