ATLANTA, GA - Resource Real Estate Opportunity REIT II, a non-traded real estate investment trust sponsored by Resource Real Estate, announced the acquisition of Uptown Buckhead in Atlanta, Georgia.
Uptown Buckhead is a 216-unit multifamily residential community that consists of approximately 159,600 net rentable square feet. The property offers many amenities, including a resort-style swimming pool, a state-of-the-art fitness center, a business center with a café, and a fully-equipped car care center. The property is located at the center of a true urban live-work-play environment with walkability and proximity to upscale neighborhood retail, restaurants, and nightlife attractions, including the prestigious new Buckhead Atlanta development.
The apartment community was built in 1989 and has the potential to benefit from the Opportunity REIT II’s investment strategy. Plans include significant interior and exterior renovations, including upgrades to common areas, the leasing center and individual units.
Kevin Finkel, President and COO of Opportunity REIT II, says, “The Buckhead area has garnered a great deal of buzz because of its vibrant urban lifestyle and walkability factor. Uptown Buckhead is in a great location and close to all of the exciting retail, entertainment and nightlife the area has to offer, and we’re thrilled to add it to Opportunity REIT II’s asset portfolio.”
Resource Real Estate Opportunity REIT II, Inc. intends to acquire and operate a portfolio of multifamily real estate throughout the United States. Opportunity REIT II 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.