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Resourceful Strategy Turns a Profit on Property Sale

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Non-traded REIT, Resource Real Estate Opportunity REIT, Inc., recently announced the sale of a multifamily community, Arcadia at Westheimer (Arcadia).

Located in Houston, TX, the 404-unit community was first bought by RRE in 2010.

Through strategic planning and management, the REIT manage to increase the value of the property, ultimately generating $6.2 million in profit from the transaction, leaving the company with an average annual return rate of 11.75 percent.

“We are extremely pleased with the outcome of this transaction. Arcadia was one of the Opportunity REIT’s early acquisitions and the successful sale demonstrates both the strength of our model and our ability to execute it. We anticipate that we will be able to continue to take advantage of the strong market for upgraded and stable cash flowing properties in the coming months,” commented president and COO of Resource Real Estate Opportunity REIT, Inc., Kevin Finkel.

Resource Real Estate Opportunity REIT is sponsored by Resource Real Estate, Inc. (RRE).