PHILADELPHIA--()--On February 13, 2013, the board of directors of Resource Real Estate Opportunity REIT (the “Company”) authorized a stock distribution of 0.0075 shares of common stock per share, or 0.75 percent of each outstanding share of common stock, for stockholders of record as of the close of business on March 29, 2013. The Company expects to issue the shares of common stock on April 15, 2013.
About Resource Real Estate
Resource Real Estate is a national real estate firm specializing in opportunistic and value-add investing in, and financing of, commercial real estate assets with a particular emphasis on multifamily properties. Resource Real Estate has a long history of investing in, managing and resolving distressed and other complicated real estate investments.
Resource Real Estate currently has an ownership interest in and manages a real estate portfolio with an aggregate value of approximately $1.7 billion, which includes approximately 24,000 apartment units and more than 500,000 square feet of office, retail, industrial and hotel space located throughout the United States. Resource Real Estate has over 540 employees with primary offices located in Philadelphia, New York City, Los Angeles, Denver and Omaha.
Resource Real Estate is a wholly owned subsidiary of Resource America, Inc. (NASDAQ: REXI), a specialized asset manager. As of September 30, 2012, Resource America had $14.9 billion in assets under management.