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Resource Real Estate Opportunity REIT II to Buy Portland Multifamily Property for $81.5 Million

May 6, 2016

May 03 2016 | DI Wire

Resource Real Estate Opportunity REIT II, Inc., a publicly registered non-traded real estate investment trust, entered into an agreement to purchase a multifamily community in Portland, Oregon for approximately $81.5 million, excluding closing costs. The seller, Holland Breckenridge Apartment Homes LLC, is unaffiliated with the company.

Breckenridge Apartments is a 357-unit multifamily community that sits on approximately 23 acres. The property features an outdoor swimming pool, fitness center, tennis court and detached garages. Unit amenities include washer/dryers, dishwashers, extra outdoor storage, patios and balconies and walk-in closets in select units.

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Gregory De Jong, CFP, Co-Founder of Paragon Advisors, LLC.
July 7, 2015

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.