The Metaverse: Resource REIT exploring sale, sale

According to people with knowledge of the matter, Resource REIT Inc., a real estate investment trust that owns suburban apartments across the U.S., is exploring options including a sale.

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The people said that the Philadelphia-based REIT is working with an adviser regarding a transaction that could value the landlord at $2 billion. One person said that Closely held Resource is in the early stages of soliciting interest from potential bidders.

The resource is led by Chairman and Chief Executive Officer Alan Feldman and Chief Financial Officer Thomas Elliott. In January, it said it completed a merger with Resource Real Estate Opportunity REIT Inc. Resource Real Estate Opportunity REIT II Inc. and Resource Apartment REIT III Inc.

The REIT holds 50 properties with more than 14,600 units in 14 U.S. states, including Alabama, Arizona, Florida, Colorado and California, according to its website.

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