Home Alts News Everest Completes Resource Opportunity REIT Tender Offer

Everest Completes Resource Opportunity REIT Tender Offer

Everest Financial has completed its unsolicited tender offer to purchase up to 3.6 million shares of Resource Real Estate Opportunity REIT, a publicly registered non-traded real estate investment trust. The offer expired on November 16, 2018.

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Everest Financial has completed its unsolicited tender offer to purchase up to 3.6 million shares of Resource Real Estate Opportunity REIT, a publicly registered non-traded real estate investment trust. The offer expired on November 16, 2018.

Everest purchased 17,633 shares of Resource Real Estate Opportunity REIT for $7.00 each, a total of approximately $123,000. The REIT’s most recent estimated net asset value per share was $10.80, as of December 31, 2017. Shares originally sold for $10.00 each.

Prior to this tender offer, Everest Financial did not own any shares of the REIT.

Resource Real Estate Opportunity REIT launched its initial offering in June 2010 and raised more than $633 million in investor equity before its closing in December 2013, according to Summit Investment Research. As of the second quarter 2018, the company’s portfolio was comprised of 32 investments purchased for more than $1.2 billion. The company continues to raise capital through its distribution reinvestment plan.

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