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”), today announced the successful sale of The Alcove, a 292-unit multifamily community located in Houston, Texas.

Originally acquired in 2012, The Alcove benefited from RRE’s value-add strategy, professional management, and capital infusion. As a result, The Alcove was transformed into an optimized property that attracted a strong group of buyers. The sale of The Alcove resulted in a profit of $2.7 million, and a 14.7 percent internal rate of return.

Kevin Finkel, President and COO of the Opportunity REIT, said “We are very pleased with result of The Alcove apartments sale. As our portfolio continues to mature, part of our strategy will remain to look for similar selective market opportunities through potential additional sales.”

About Resource Real Estate Opportunity REIT

Resource Real Estate Opportunity REIT intends to acquire and operate a portfolio of multifamily real estate throughout the United States. Opportunity REIT’s objectives are to provide capital preservation, current income and capital appreciation. Opportunity REIT is sponsored by Resource Real Estate, Inc., a firm that specializes in direct real estate investments, commercial real estate lending and global real estate securities. Resource Real Estate is a wholly owned subsidiary of Resource America (NASDAQ: REXI).

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 US.

RRE owns and manages real estate assets with an aggregate value of approximately $3.1 billion. RRE is a wholly owned subsidiary of Resource America (NASDAQ: REXI). As of September 30, 2014, Resource America managed $19.4 billion across various asset classes.