Home News Resource Real Estate Opportunity REIT II to Purchase AL Multifamily Community

Resource Real Estate Opportunity REIT II to Purchase AL Multifamily Community

Public, non-traded real estate investment trust (REIT) Resource Real Estate Opportunity REIT II, Inc. (Opportunity REIT II), recently agreed to purchase a multifamily community for $30.2 million, exclusive of closing costs.

Located in Homewood, Alabama, the community offers 274 units on a 15-acre site with amenities like two swimming pools, a fitness center, and a playground, among others.

According to a filing, Opportunity REIT II made an earnest deposit of $550,000 and upon satisfactory closing conditions, will fund the balance with the assumption of two mortgages encumbering the property, plus cash from its ongoing initial public offering.