Resource REIT Inc., a self-managed non-traded real estate investment trust that invests in multifamily properties, is reportedly exploring options including a possible sale, according to a Bloomberg article.
“The Philadelphia-based REIT is working with an adviser regarding a transaction that could value the landlord at about $2 billion,” the article stated, citing people with knowledge of the matter. “Closely held Resource is in the early stages of soliciting interest from potential bidders.”
A representative for the company declined to comment.
Resource REIT was created from the early 2021 merger of three affiliated non-traded REITs, Resource Real Estate Opportunity REIT Inc., Resource Real Estate Opportunity REIT II Inc., and Resource Apartment REIT III Inc., in separate stock-for-stock transactions.
Resource REIT had more than $3 billion of assets under management as of December 31, 2020 and owns a portfolio of 50 suburban apartment communities totaling 14,643 across 14 states.