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This Thrill-Seeking Billionaire Made A Fortune In Luxury Apartments
Posted
April 17, 2024
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191,150
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April 17, 2024
191,150
3,423
162
1.88%
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15:12Now PlayingLarry Connor made a fortune in luxury apartments by obsessing over the smallest transaction. His strategy has paid off for years, but now that the market has shifted, how close to the edge is he willing to go?
“You’ve got to be willing to take calculate risk, not stupid risk,” Connor says. That has been a winning strategy for him and his real estate firm, the Connor Group, which has led to three decades of astronomical returns and a $2 billion personal fortune.
Since he cofounded the business in 1991, its investments in luxury apartments have generated an annual rate of return of 30.4%. That’s almost unheard of in an industry in which titans such as Blackstone and Brookfield have posted returns of 16% and 18% in real estate, respectively, since inception.
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