We recently calculated Connor Group property earnings, revenue and distributions for 2022. The results were nothing short of impressive – and that’s in large because of you, our associates. We set two new records.
As an organization, we drove $426 million in total income, or money coming in from our property operations and sales. Our total revenue, which is money we receive from residents for rent and other income, topped out at $293 million. To put that number in perspective, out of nearly one million U.S. real estate businesses nationwide, The Connor Group ranks in the top one percent based on revenue.
“These kinds of results are unheard of,” managing partner Larry Connor said. “We don’t often compare ourselves to other organizations. But in this case, it proves with the right people, plans and processes, you can be wildly successful.”
These financial results stemmed from $3 billion in transactional volume, our largest year on record. Here’s how those transactions break down:
- 11 property sales, $1.3 billion
- 12 acquisitions, $1.1 billion
- Eight refinances, $542.3 million
- Four supplementals, $23.2 million
The track record of success throughout the last five years speaks to our ability to overcome challenges and find solutions. Despite a pandemic and volatile market conditions, our people have found a way.
“Just goes to prove, no matter what obstacles or problems you face, anything is possible,” Larry said.
As a direct result of these record-setting performances, we’ve distributed $685 million to our investors and gave $16 million to our non-profit arm, Kids & Community Partners, in 2022.
“We feel if you’re fortunate enough to experience success, you have an obligation to give back,” Larry said. “And we’ve been very fortunate.”