Dec 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.
Best Due Diligence meeting in the industry. No sales pitches, senior level decision makers, meaningful discussions and the Broker Dealer networking sessions were especially useful. Thanks to Blue Vault for raising the bar!