Monday, June 30, 2014

Arboretum apartment complex sold

Atlanta-based ARA Real Estate Investment Services on Monday announced the sale of The Arboretum Apartments in South Charlotte for $32.3 million. The 277-unit complex, located near the Arboretum shopping center at Providence and Pineville-Matthews roads, had an occupancy rate of 98 percent at the time of the sale, which was finalized in May. The seller, Denver, Colo.-based Simpson Housing, was represented by ARA Carolinas. The buyer was Arboretum Apartments Charlotte, an affiliate of  The Connor Group.

11 comments:

Anonymous said...

So glad I didn't rent there! I currently rent in another Connor property which has gone down the toilet since they've taken over. When I visited there, two agents left to give a tour to a family making me wait by myself. They're both way overpriced and have poor management. Bullet dodged!

Anonymous said...

I feel so sorry for the renters at this complex. All you need to do is google The Connor Group to know you are in for some sky high rate increases, not to mention the upkeep of the property will go way down. I know, I currently lived through a Connor Group takeover and believed all their lies. I'm getting out asap.

Anonymous said...

It has only been one month and it so different - BAD.
The maintenance is sorely lacking.
The Simpson Group was fast and friendly at keeping all neat and clean.
Connor Group toots its horn but fails to perform.
I have seen one report to the Better Business Bureau and have heard there another.

Anonymous said...

Bad Business at that complex

Nothing but heroin there.

Anonymous said...

The Connor Group took over Alexander Place Apts a few years ago. My water bill went from $18 a month to about $70. They own another company called First Billing, that you send your water bill and other fees too. They force you to pay $100 a month for Time Warner cable even if you don't own a TV. Besides my rent, my additional fees total almost $200 a month. My rent has increased to over $300 more per month since they took over. People were and still are leaving in droves. The upkeep of the apartments went downhill. They will look you in the eye and lie straight to your face. What's sad, and scary, is that as unethical as Connor Group is, they are doing nothing illegal. Find a Camden community and you will be happier.

Anonymous said...

The entire Arboretum area needs a revamping. Too much traffic, outdated infrastructure a mess. I am glad do not live or shop in the area.

Anonymous said...

I'm disappointed. I have lived in these apartments for 14 years and imagine my surprise when they informed me my rent would increase by close to $250. I love where I live and don't want to move, but I have no choice.
But what are you going to do?

Anonymous said...

The Connor Group has been investigated and sued by tenants in other cities because of their unethical ways. With all the reporters out there trying to make a name for themselves, it would be nice if someone dug down deep to pull up the dirt on The Connor Group's holdings in Charlotte. C'mon reporters!

TCG_sux said...

The Connor Group is suing me for over a million bucks in an attempt to shut down the website: RENTN.ORG

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Anonymous said...

Simpson sold this property recently, I'm living in arboretum since 5yrs, It was awesome experience until before Conner took it over. New management is amazing with zero social ethics. They are saying they are voted for #1? but don't know for what.