Resource Real Estate Announces Purchase of Defaulted Note Collateralized by Deerfield Apartments for $10.3M

by Eddie Staley, Benzinga Editor

March 26, 2012 10:56 AM | 17 seconds read | Make a Comment

Today, Resource Real Estate, Inc.

REXI

announces the purchase of a defaulted mortgage note collateralized by the Deerfield Apartments, located in Hermantown, Minn. The note was purchased by one of Resource Real Estate's retail investment programs for $10.3 million, or 52 percent of the outstanding $19.75 million principal balance on the loan.

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Resource Real Estate Announces Purchase of Defaulted Note Collateralized by Deerfield Apartments for $10.3M