Resource Real Estate Opportunity REIT, Inc., (“Opportunity REIT”) a non-traded real estate investment trust sponsored by Resource Real Estate, Inc. (“Resource Real Estate” or "RRE") purchased Addison Place Apartments and Townhomes (“Addison Place”), a multifamily community located in Johns Creek, Georgia, for $70.5 million.

Addison Place is a community of 403 units offering one, two, three, and four bedroom garden-style apartments, as well as two and three bedroom town home options. Features include a private lake with a nature walk, two swimming pools, three tennis courts, a fitness center and an executive business center. 94 percent of the property is currently leased.

This purchase exemplifies the Opportunity REIT's investment strategy, which seeks to purchase a wide range of multifamily assets that can be significantly improved by renovations and experienced management. The Opportunity REIT plans to add value to Addison Place by improving unit interiors and renovating the clubhouse and leasing center, ultimately upgrading the property to a more modern community with the goal of achieving higher rents.

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, Denver, London, Singapore, Sydney 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 $2.5 billion. RRE is a wholly owned subsidiary of Resource America (NASDAQ: REXI). As of December 31, 2013, Resource America managed $17.3 billion across various asset classes.