UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
FORM 8-K
CURRENT REPORT
PURSUANT TO SECTION 13 OR 15(d)
OF THE SECURITIES EXCHANGE ACT OF 1934
Date of Report (Date of earliest event reported): April 27, 2015
Resource Real Estate Opportunity REIT II, Inc.
(Exact name of registrant as specified in its charter)
Commission file number 000-55430
| Maryland | 80-0854717 | |
| (State or other jurisdiction of incorporation or organization) |
(I.R.S. Employer Identification No.) |
1845 Walnut Street, 18th Floor, Philadelphia, PA, 19103
(Address of principal executive offices) (Zip code)
(215) 231-7050
(Registrant’s telephone number, including area code)
(former name or former address, if changed since last report)
Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the following obligation of the registrant under any of the following provisions:
| ¨ | Written communications pursuant to Rule 425 under the securities Act (17CFR 230.425) |
| ¨ | Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12) |
| ¨ | Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b)) |
| ¨ | Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c)) |
| Item 1.01. | Entry into a Material Definitive Agreement. |
On April 27, 2015, Resource Real Estate Opportunity REIT II, Inc. (the “Company”), through its operating partnership, entered into an agreement to purchase a multifamily community located in Homewood, Alabama (the “Homewood Property”) from an unaffiliated seller, Mayfair Investors LLC, an Alabama limited liability company. The Homewood Property is a multifamily community with 274 units located on an approximately 15-acre site with amenities, including but not limited to two swimming pools, a fitness center, and a playground. The contract purchase price for the Homewood Property is approximately $30.2 million, excluding closing costs.
Pursuant to the agreement, the Company is required to make an earnest money deposit of $550,000. The Company will be obligated to purchase the Homewood Property only after satisfaction of agreed upon closing conditions. The Company intends to fund a portion of the purchase price through the assumption of two mortgage loans encumbering the Homewood Property. The remainder of the purchase price will be funded with proceeds from the Company’s ongoing initial public offering. There can be no assurance that the Company will complete the acquisition. In some circumstances, if the Company fails to complete the acquisition, the Company may forfeit up to $550,000 of earnest money.
SIGNATURE
Pursuant to the requirements of the Securities Exchange Act of 1934, the Registrant has duly caused this report to be signed on its behalf by the undersigned thereunto duly authorized.
| RESOURCE REAL ESTATE OPPORTUNITY REIT II, INC. | ||||||
| Dated: April 28, 2015 | By: | /s/ Alan F. Feldman | ||||
| Alan F. Feldman | ||||||
| Chief Executive Officer | ||||||
| (Principal Executive Officer) | ||||||