AUSTIN—Philadelphia-based Resource Real Estate Opportunity REIT Inc. (Opportunity REIT), a non-traded real estate investment trust sponsored by Resource Real Estate Inc., has acquired Woodmoor Apartments, a 208-unit class B, 97-percent-occupied apartment complex in south Austin.
“We think Austin represents a terrific market,” Kevin Finkel, president and COO of Opportunity REIT, told GlobeSt.com.
So much so that it's Resource Real Estate's third multifamily acquisition in Austin; it also owns Bent Oaks apartments in northwest submarket and the Arboretum-area Woodhollow.
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