Another Non-Traded REIT Comes to Market – Resource Real Estate Opportunity REIT II

Resource Real Estate Opportunity REIT II (Opportunity REIT II) recently announced that on February 6, 2014 it commenced its public offering of common stock.

For tax purposes, Opportunity REIT II intends to qualify as a REIT. Similar to Resource Real Estate Opportunity REIT, Opportunity REIT II will seek to invest in underperforming multifamily rental properties and distressed real estate, as well as performing loans. The company believes multiple opportunities exist within the multifamily industry today and will continue to present themselves over the next few years.

Opportunity REIT II is offering up to $1 billion in common stock at a price of $10 per share and has a planned closing date of February 6, 2016.

Resource Real Estate (RRE), sponsor of Opportunity REIT II, has sponsored a number of real estate investments in its twenty years of business. It most recently closed its non-traded REIT, Resource Real Estate Opportunity REIT, in December 2013 after it raised $635 million. RRE is a wholly owned subsidiary of the publicly traded company, Resource America, Inc