{"id":1004089957,"date":"2014-01-16T14:48:24","date_gmt":"2014-01-16T22:48:24","guid":{"rendered":"https:\/\/synd.yardi.com\/?p=232005"},"modified":"2020-04-06T06:55:10","modified_gmt":"2020-04-06T14:55:10","slug":"connor-group-pays-17m-for-columbus-m-f-asset","status":"publish","type":"post","link":"https:\/\/www.commercialsearch.com\/news\/connor-group-pays-17m-for-columbus-m-f-asset\/","title":{"rendered":"Connor Group Pays $17M for Columbus M-F Asset"},"content":{"rendered":"<p style=\"text-align: justify;\"><em>By Adrian Maties, Associate Editor<\/em><\/p>\n<p style=\"text-align: justify;\"><a href=\"https:\/\/synd.yardi.com\/wp-content\/uploads\/sites\/46\/2014\/01\/slide1.jpg\"><img loading=\"lazy\" decoding=\"async\" class=\"alignleft size-medium wp-image-232011\" title=\"slide1\" src=\"https:\/\/synd.yardi.com\/wp-content\/uploads\/sites\/46\/2014\/01\/slide1.jpg\" alt=\"\" width=\"300\" height=\"138\" \/><\/a><\/p>\n<p>The Connor Group ended 2013 in force, adding another property to its Columbus portfolio. The Centerville-based \u00a0firm acquired Lennox Flats for $17 million from Kinnear Road Redevelopment L.L.C.<\/p>\n<p style=\"text-align: justify;\">Located at\u00a0815 Kinnear Road near downtown Columbus. The community features 194 one- and two-bedroom apartment units with five different floor plans. Amenities include a resort-style swimming pool, 24-hour fitness center, private theatre, bike racks, patio and grill area. Lennox Flats is within walking distance of some of the city\u2019s leading entertainment, sports and shopping destinations. The Ohio State University campus, Ohio Stadium, the Lennox Town Center, and the Short North Arts District are all within walking distance.<\/p>\n<p><a href=\"https:\/\/synd.yardi.com\/wp-content\/uploads\/sites\/46\/2014\/01\/marcusmillichapcolumbusapt.jpg\"><img loading=\"lazy\" decoding=\"async\" class=\"alignright size-medium wp-image-232030\" title=\"marcusmillichapcolumbusapt\" src=\"https:\/\/synd.yardi.com\/wp-content\/uploads\/sites\/46\/2014\/01\/marcusmillichapcolumbusapt.jpg\" alt=\"\" width=\"126\" height=\"300\" \/><\/a><\/p>\n<p>The Connor Group now owns nine communities in Columbus, and managing partner Larry Connor likes what he sees. \u201cWe tend to do really well in markets with large universities, markets with state government and markets with a large number of renters by choice,\u201d he noted in a statement. \u201cColumbus has all those characteristics.\u201d The Connor Group also owns apartment communities in Dayton and Cincinnati, as well as Atlanta; Austin, Texas; Charlotte, N.C.; Dallas, Nashville, Tenn.; and North Carolina&#8217;s Raleigh-Durham market.<\/p>\n<p style=\"text-align: justify;\">Marcus &amp; Millichap Real Estate Investment Services estimates that 2,300 units will come online in the Columbus area in 2014. Vacancy will rise to 5.2 percent by the end of the year, but average monthly rents will climb 1.3 percent to $770. That increase would be slightly smaller than last year&#8217;s, when rents rose \u00a01.7%.<\/p>\n<p style=\"text-align: justify;\">Columbus&#8217; high occupancy and strong performance are likely to attract investors this year. As owners hold on to assets, buyers will be competing for a limited number of listings, nudging higher property values upward.<\/p>\n<address style=\"text-align: justify;\"><em>Photo credits: <a href=\"https:\/\/www.lennoxflats-apts.com\/\" target=\"_blank\" rel=\"nofollow\">www.lennoxflats-apts.com<\/a><\/em><\/address>\n<address style=\"text-align: justify;\"><em>Charts courtesy of <a href=\"https:\/\/www.marcusmillichap.com\/\" target=\"_blank\" rel=\"nofollow\">Marcus &amp; Millichap<\/a>.<\/em><\/address>\n","protected":false},"excerpt":{"rendered":"<p>The Connor Group ended 2013 in force, adding another property to its Columbus portfolio. The Centerville-based real estate investment firm acquired the Lennox Flats for $17 million. Kinnear Road Redevelopment, LLC was the seller.<\/p>\n","protected":false},"author":925,"featured_media":0,"comment_status":"open","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[1585,21742],"tags":[39426],"class_list":["post-1004089957","post","type-post","status-publish","format-standard","hentry","category-columbus","category-latest","tag-columbus"],"acf":[],"yoast_head":"<!-- This site is optimized with the Yoast SEO Premium plugin v28.0 (Yoast SEO v28.0) - https:\/\/yoast.com\/product\/yoast-seo-premium-wordpress\/ -->\n<title>Connor Group Pays $17M for Columbus M-F Asset - Commercial Property Executive<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.commercialsearch.com\/news\/connor-group-pays-17m-for-columbus-m-f-asset\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Connor Group Pays $17M for Columbus M-F Asset\" \/>\n<meta property=\"og:description\" content=\"The Connor Group ended 2013 in force, adding another property to its Columbus portfolio. 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