Resource REIT, Inc., formerly known as Resource Real Estate Opportunity REIT II, Inc., has completed its mergers with Resource Real Estate Opportunity REIT, Inc. (Resource REIT I) and with Resource Apartment REIT III, Inc. (Resource REIT III) to create a $3 billion self-managed apartment REIT.
“We are extremely excited about the completion of the mergers and the strategic positioning of the combined company for the future,” said Alan Feldman, chairman and CEO of Resource.
“This has been a long, difficult and unrelenting past year for the country and for those around the world. At Resource, our team has been laser focused on operating our assets expertly throughout the pandemic and simultaneously working towards the successful completion of the mergers. The combined $3 billion company with 51 apartment communities, located in some of the strongest suburban markets in the country, is well-positioned to take advantage of multifamily investment opportunities in the coming years,” he added.
Focused on long-term returns to generate income, the REIT owns approximately $3 billion of multifamily properties across 15 states as of December 31, 2020