April 24, 2017
Resource Innovation Office REIT to Revise Offering, Lower Fees, Offer New Share Classes
Resource Innovation Office REIT to Revise Offering, Lower Fees, Offer New Share Classes April 24, 2017 | by James Sprow | Blue Vault Resource Innovation Office REIT Inc., a nontraded …

Read more

Blue_OrangeNewsAlert_2

Resource Innovation Office REIT to Revise Offering, Lower Fees, Offer New Share Classes

April 24, 2017 | by James Sprow | Blue Vault

Stock market graphs monitoring

Resource Innovation Office REIT Inc., a nontraded REIT sponsored by Resource Real Estate Inc., has suspended sales of its Class A and Class T shares in its public offering as of Friday, April 21. The board of directors also suspended the distribution reinvestment plan effective May 1 and the share repurchase plan effective May 21.

The REIT intends to convert its $1.1 billion offering to a perpetual-life offering, following the pattern of other nontraded REIT programs that offer improved liquidity, daily NAV pricing, and reduced upfront fees. 

The company plans to resume share sales, and amend and reinstate the DRIP and SRP, once the changes to its offering have been completed. The Company will create new share classes of common stock with pricing at the net asset value per share plus selling commissions and dealer manager fees.

The REIT will make a tender offer for all shares currently issued and outstanding after it shuts down the share repurchase program on May 21. 

Blue Vault reports that the REIT had raised $0.657 million in its offering during the first quarter of 2017 following its 2016 capital raise of $4.02 million. 

didyouknow_sponsorfocus-green

Learn more about Resource Real Estate on our Sponsor Focus page. 

Click Here

Recent

Most Popular

Blue Vault Q2 2023 Performance Reports Update

Blue Vault Q2 2023 Performance Reports Update

Blue Vault Q2 2023 Performance Reports Update 10-3-2023 Blue Vault wishes to acknowledge and apologize for the delay in publishing some Q2 2023 NTR Individual Performance Pages (IPPs) as well as the full review. We recently added additional reporting metrics to our IPPs, and that, combined with coverage of all share classes and some additional…
Blue Vault Q2 2023 Performance Reports Update

Blue Vault Q2 2023 Performance Reports Update

Blue Vault Q2 2023 Performance Reports Update 9-25-2023 Blue Vault has published the Q2 2023 Nontraded BDC Industry Review as well as Individual Performance Report and Limited Operations pages for the following offerings (newly published pages in bold font): Nontraded REITS American Healthcare REIT Q2 2023 Apollo Realty Income Solutions Q2 2023 (limited operations) Ares…

Explore

Blue Vault Logo
Don’t miss alts news
and educational events

Subscribe Now