Resource Real Estate REITs to Vote on Merger
November 3, 2020 | James Sprow | Blue Vault
Stockholders of Resource Real Estate Opportunity REIT Inc. (“REIT I”) and Resource Apartment REIT III Inc. (“REIT III”) will hold separate special meetings on January 26, 2021, to vote on, among other things, the companies’ respective sale to Resource Real Estate Opportunity REIT II Inc (“REIT II”).
The boards of the two REITs recommend their stockholders vote in favor of the proposed merger at the meetings.
On September 8, 2020, REIT I entered into and consummated a series of transactions to become self-managed and acquire the advisory, asset management and property management business of Resource America, Inc. and C-III Capital Partners LLC. Following the Self-Management Transaction, REIT I indirectly owns its advisor and property manager as well as the advisors and property managers to REIT II and REIT III and will manage REIT II and REIT III until the Mergers are consummated. Following the Mergers, the surviving company will be a self-managed company.
Source: SEC
