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Connor Group Buys Trellises Apartments

FLORENCE, KY-The 301-unit complex sells at a 30% discount from two years ago.

By Carl Cronan | Updated on June 15, 2009

FLORENCE, KY-The Trellises, a 301-unit local apartment complex built in 2002, has been purchased by Dayton, OH-based Connor Group for $19.5 million. The per-unit price of $64,800 is nearly 30% lower than what the complex might have sold for just two years ago.

Larry Connor, the group’s managing partner, says the deal took 10 months to close and was made challenging because few multifamily properties are available for sale. He says the company only acquires 5% of the properties it examines.

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