Resource Apartment REIT III, Inc. Under Contract to Acquire Matthews Reserve

An Apartment Community in the Heart of Charlotte Metro’s Expanding Employment Footprint

PHILADELPHIA, July 16, 2018 (GLOBE NEWSWIRE) -- Resource Apartment REIT III, Inc. (the “REIT”), through its operating partnership, today announced that it has entered into an agreement to purchase Matthews Reserve, an apartment community located in a diverse, growing suburb of Charlotte, North Carolina. Built in 1998, the 212-unit community features numerous amenities, including a swimming pool with sundeck, fitness center, and expansive clubhouse.

Matthews Reserve sits one mile from US-Route 74, a major interstate with direct access to uptown Charlotte, the home of major corporations that employ over 85,000 area residents, including Atrium Health, Wells Fargo, Bank of America, and American Airlines.

Even closer to home, residents have access to attractive employment opportunities within two miles of the property, including Novant Medical Center and the corporate headquarters of Family Dollar and Harris Teeter. The community also sits within one mile of two major retail centers, restaurants, and entertainment options, and is also a short drive from downtown Matthews’ main street storefronts.          

About Resource Apartment REIT III, Inc.

Resource Apartment REIT III, Inc. intends to acquire and operate a portfolio of multifamily real estate throughout the United States. The REIT is sponsored by Resource Real Estate, LLC (“Resource”), which is a wholly owned subsidiary of C-III Capital Partners LLC, a fully integrated asset management and commercial real estate services company. Resource specializes in real estate investments that emphasize consistent value and long-term returns with an income orientation.

Media Contact:
Robert Klemens
Phone: 646-503-6271
Email: rklemens@prosek.com

Investor Contact:
Jared Trexler
Phone: 215-988-6787
E-mail: jtrexler@resourcealts.com