REIT PURCHASES BRISTOL APTS. FOR $11.4M

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HOUSTON — Resource Real Estate Opportunity REIT has acquired the 856-unit Bristol Apartments, located at 1401 Redford St. in Houston, for $11.4 million. The REO property is 52 percent occupied. Amenities of the complex include a clubhouse, swimming pool, fitness center and playground. The buyer plans to invest additional capital to improve the overall condition of the property. Trimont Real Estate Advisors, acting as special servicer on behalf of Fannie Mae, sold the asset.

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