On August 14, 2013, the board of directors of Resource Real Estate Opportunity REIT (the “Company”) authorized a stock distribution of 0.005 shares of common stock, or 0.5 percent of each outstanding share of common stock, to the stockholders of record at the close of business on September 30, 2013. This stock distribution is to be issued on October 15, 2013.
For stockholders of record on each of the distribution record dates during 2013, the combination of cash and stock distributions declared by the Company in the first nine months of 2013 equates to a 6.0 percent annualized rate based on a purchase price of $10.00 per share.
About Resource Real Estate
Resource Real Estate (“RRE”) is a firm that specializes in direct real estate investments, commercial real estate lending and global real estate securities. For over two decades, RRE and its affiliates have managed real estate assets for institutional and individual investors. RRE and its parent company have offices in New York, Los Angeles, London and Singapore, as well as its headquarters in Philadelphia and additional locations across the U.S.
RRE owns and manages real estate assets with an aggregate value of approximately $1.9 billion. RRE is a wholly owned subsidiary of Resource America (REXI). As of June 30, 2013, Resource America managed $16.1 billion across various asset classes.