{"id":1004115172,"date":"2015-03-10T06:22:18","date_gmt":"2015-03-10T14:22:18","guid":{"rendered":"https:\/\/synd.yardi.com\/?p=331023"},"modified":"2020-05-11T01:18:30","modified_gmt":"2020-05-11T09:18:30","slug":"resource-real-estate-buys-m-f-asset-in-austin-2","status":"publish","type":"post","link":"https:\/\/www.commercialsearch.com\/news\/resource-real-estate-buys-m-f-asset-in-austin-2\/","title":{"rendered":"Resource Real Estate Buys M-F Asset in Austin"},"content":{"rendered":"

By Anca Gagiuc, Associate Editor<\/em><\/p>\n

Woodmoor Apartments, a 208-unit asset in Austin, has changed hands. A non-traded REIT sponsored by Resource Real Estate Inc., acquired the property. Terms were not disclosed.<\/p>\n

\"\"<\/a>The property comprises 16 two-story buildings totaling about 152,000 square feet. Community amenities include a swimming pool and lounge, a dog park, clubhouse, fitness center, computer stations and outdoor barbeque areas.<\/p>\n

The new owner, Resource Real Estate Opportunity REIT Inc., intends to invest in extensive upgrades to individual units and common areas, including painting and landscaping.<\/p>\n

Resource Real Estate turned its attention to Austin because of the city\u2019s consistent and rapid growth. During the past decade, Austin\u2019s population has jumped 37 percent, according to the U.S. Census Bureau, a testament to the city\u2019s appeal to creative residents and its innovative, high-paying job market.<\/p>\n

\u201cWe are excited to continue the expansion of RRE\u2019s portfolio of apartments in Austin, a city that continues to attract the best and the brightest talent from around the U.S.,\u201d Kevin Finkel, president & COO of Resource Real Estate Opportunity REIT, said in a statement. \u201cWoodmoor is a strong example of the types of value-add properties we believe will be accretive to the REIT\u2019s success.\u201d<\/p>\n

Photo courtesy of Woodmoor Apartments Facebook Page<\/a>. <\/em><\/p>\n","protected":false},"excerpt":{"rendered":"

Austin’s Woodmoor Apartments residential community has changed ownership. The new owner, Resource Real Estate Opportunity REIT, Inc., has completed the acquisition with sponsorship from Resource Real Estate, Inc. Details about the transactions were not disclosed.<\/p>\n","protected":false},"author":237,"featured_media":0,"comment_status":"open","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[1578,21742],"tags":[],"class_list":["post-1004115172","post","type-post","status-publish","format-standard","hentry","category-austin","category-latest"],"acf":[],"yoast_head":"\nResource Real Estate Buys M-F Asset in Austin - Commercial Property Executive<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.commercialsearch.com\/news\/resource-real-estate-buys-m-f-asset-in-austin-2\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Resource Real Estate Buys M-F Asset in Austin\" \/>\n<meta property=\"og:description\" content=\"Austin’s Woodmoor Apartments residential community has changed ownership. 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