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04/30/2012

North Arlington apartment community sold

The Conner Group in Centerville, Ohio, a real estate investment firm, has sold Legacy Point, a 246-unit apartment community in Arlington.

The property, 1901 NE Green Oaks Blvd., was sold to MREF Legacy, Llc. in Carrollton for an undisclosed amount.

The Conner Group said it bought the property in 2007 for $25.2 million. The apartment community was built in 1995.

Larry Connor, Connor Group managing partner, said it was the right time to sell.

"We were at a point where we felt we could maximize our return to investors," he said.

The Connor Group bought the Lodge at Frisco Bridges in Frisco in March. The firm now owns and operates about 2,100 units in the Dallas-Fort Worth area and about 16,000 units nationwide.

_ Sandra Baker

 

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