Resource Apartment REIT III, Resource Real Estate Opportunity REITs I and II to Resume Special Redemptions
October 27, 2020
On October 22, 2020, the boards of directors of Resource Apartment REIT III (“REIT III”), Resource Opportunity REIT I (“REIT I”) and Resource Real Estate Opportunity REIT II (“REIT II”) approved the partial resumptions of the share redemption programs of the Companies, pursuant to which, subject to significant conditions and limitations of the programs, stockholders of the Companies can have their shares repurchased by the Companies (the “Share Redemption Programs”). Pursuant to the terms of the Share Redemption Programs, the resumptions will be effective November 22, 2020. As a result, the boards of directors will consider redemption requests submitted in connection with a stockholder’s death, qualifying disability, or confinement to a long-term care facility (each as described in the Share Redemption Program and collectively, “Special Redemptions”) for the fourth quarter of 2020. For a redemption request to be considered for the fourth quarter of 2020 it should be received in good order by November 30, 2020. Any requests for Special Redemptions previously submitted and not honored due to the suspension of the Share Redemption Program on September 8, 2020, will be considered unless the request is withdrawn prior to November 30, 2020. The boards of directors intend to consider requests for Special Redemptions quarterly thereafter and will notify stockholders of the quarterly deadline for receipt of a Special Redemption request by filing a Current Report on Form 8-K at least ten business days prior to the deadline if such deadline will be earlier than the last day of the calendar month preceding the end of the quarter.
Resource Apartment REIT III, Inc., Resource Real Estate Opportunity REIT I, Inc. and Resource Real Estate Opportunity REIT II, Inc. announced on September 11, 2020, that the REITs had entered into an Agreement and Plan of Merger. In connection with the Merger, on October 20, 2020, REITs I and II filed with the Securities and Exchange Commission (the “SEC”) registration statements on Form S-4 containing a Joint Proxy Statement and Prospectus jointly prepared by REITs I and II and REIT III, and other related documents. The registration statements on Form S-4 have not been declared effective by the SEC. Additional information regarding REIT III and the Merger is contained in the registration statement filed by REITs I and II and can be found on the SEC’s Internet site at http://www.sec.gov.
Source: SEC
