Ohio firm drops $65 million on Cherry Creek apartment buy

DENVER BUSINESS JOURNAL - The Connor Group, an Ohio-based company, has acquired The Gardens at Cherry Creek, a 191-unit apartment complex at 225 S. Harrison St. for $65 million, according to Denver County public records.

It's The Connor Group's first acquisition in Denver, the company said. The Connor Group is in 12 markets across the country, which was founded in 1992 and now owns 13,000 apartment units.

“We identified Denver as a possible market for expansion in our 2016 strategic planning process,” said Connor Group Managing Partner Larry Connor. “We’ve been looking at a number of Class A properties in Class A locations and waiting for the right opportunity. This is a great way to launch a new market, with a high-end community in a well-established area.”

The Gardens at Cherry Creek were built in 2014 and sold for $340,314 per unit. The seller was J.P. Morgan Investment Inc., according to a deed filed with the Denver County Clerk.

Read more at the Denver Business Journal: http://bit.ly/2u46Xo6

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