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Resource Real Estate Opportunity REIT II to buy Portland, Ore., apartment property

Resource Real EstateOpportunity REIT II Inc., through its operating partnership, agreedto purchase a multifamily property in Portland, Ore., for roughly $81.5 million,excluding closing costs, the company said.

The company will purchase the 357-unit property, which sits ona roughly 23-acre site, from Holland Breckenridge Apartment Homes LLC.

The company is obligated to make an earnest money deposit ofup to $2.5 million and will be obligated to purchase the property only after satisfactionof closing conditions.