Home Alts News Resource Real Estate Opportunity REIT II to Close Primary Offering

Resource Real Estate Opportunity REIT II to Close Primary Offering

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Resource Real Estate Opportunity REIT II Inc., a publicly registered non-traded real estate investment trust that specializes in multifamily properties, will be closing the primary portion of its offering on December 31, 2015. This closing date may be extended upon the discretion of the board of directors.

Resource Real Estate Opportunity REIT II’s initial public offering commenced on February 6, 2014, and as of July 9, 2015, the company had accepted aggregate gross offering proceeds of approximately $243.8 million related to the sale of 24.5 million shares of common stock, including shares sold to the distribution reinvestment plan. 

Approximately 75.8 million shares of common stock remain available for sale in the primary offering, and approximately 9.7 million shares of common stock remain available for issuance under the distribution reinvestment plan.

Resource Real Estate Opportunity REIT II 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.