Home Alts News Resource Real Estate Opportunity REIT Announces Share Value of $10.59

Resource Real Estate Opportunity REIT Announces Share Value of $10.59

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Resource Real Estate Opportunity REIT Inc., a publicly registered non-traded real estate investment trust that specializes in multifamily properties, commissioned an independent third-party appraisal of their portfolio, which estimated its value at $10.59 per share.

The company engaged independent valuation advisor Duff & Phelps LLC to appraise the REIT’s portfolio as of March 31, 2015, based on the estimated market value of the assets.

On June 4, 2015, Duff & Phelps provided an estimated valuation range from a low of $10.03 per share, to a high of $11.20 per share. The resulting midpoint estimate of $10.59 per share was adopted as the new share value of the REIT.

Kevin Finkel, president and chief operating officer of Resource Real Estate Opportunity REIT, said, “We believe that the multifamily value-add process that we have developed over the past two decades has significantly contributed to the performance of the properties in the Opportunity REIT portfolio. We continue to provide the Opportunity REIT’s well-located assets with new capital and management expertise in an effort to increase revenues. In our opinion, the recent appraisal indicates that our work to date has been successful and we look forward to continuing to add value to the Opportunity REIT’s portfolio of investments.”

Resource Real Estate Opportunity REIT is sponsored by Resource Real Estate Inc., a firm that specializes in direct real estate investments, commercial real estate lending and global real estate securities. Resource Real Estate owns and manages real estate assets with an aggregate value of approximately $3.6 billion. Resource Real Estate is a wholly-owned subsidiary of Resource America (NASDAQ: REXI). As of March 31, 2015, Resource America managed $20.6 billion across various asset classes.