Purchase Your Blue Vault Research SubscriptionDec 08 2015
Resource Real Estate Opportunity REIT II Inc., a publicly registered non-traded real estate investment trust, entered into agreements to purchase two multifamily communities for $131.9 million.
The first potential acquisition is located in Boulder, Colorado and consists of 216 units located on approximately 24 acres with a swimming pool and business center. The purchase price is approximately $65.2 million, excluding closing costs. The seller of the Boulder property, TRM – Meredith Park Corp., is unaffiliated with the company.
The second potential acquisition is located in the Chicago suburb of Naperville, Illinois and consists of 319 units located on an approximately 19-acre site with a swimming pool and a fitness center. The purchase price for the Naperville property is approximately $66.7 million, excluding closing costs. The seller, HART Grand Reserve LLC, is unaffiliated with the company.
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Blue Vault is just what advisors need to size up the different offerings in the nontraded REIT market. Just as importantly, it’s what the industry needs to encourage best practices among REITs.
