Resource Real Estate (RRE), a subsidiary of Resource America, has launched The Resource Real Estate Diversified Income Fund.
The fund is managed by real estate investment veteran Scott Crowe and seeks to provide income, long-term appreciation and low equity market correlation for investors looking to diversify their investment holdings.
For over two decades RRE and its affiliates have acquired, managed and harvested complex real estate assets for institutional and individual investors, joint venture partnerships as well as for their own accounts. RRE and its parent company have offices in New York, Los Angeles, London, Singapore as well as its own headquarters in Philadelphia and additional locations across the US.
The fund offers an opportunity for investors to access real estate investments in both listed and unlisted markets, via equity and debt securities. Seeking to offer income and growth, the fund’s portfolio may include publicly-traded REIT shares, private equity real estate investments, preferred shares of REITs and non-traded REIT shares purchased at net asset value (NAV) or on the secondary market.
Crowe recently joined Resource Real Estate as a managing director to build its real estate securities investment platform. Crowe has 15 years of experience in real estate investing and was formally global real estate portfolio manager at Cohen & Steers, where he was responsible for more than USD10bn in institutional funds under management and led a team of more than 20 portfolio managers and analysts in New York, London and Hong Kong.
“The Resource Real Estate Diversified Income Fund employs a unique approach to real estate investing, allowing investors to gain access to private equity investments in the same managed portfolio that includes select publicly-traded real estate securities. Furthermore, investors can take advantage of the fund’s institutional and specialty investments with lower fees and minimums than if they invested in such investments separately, which may allow them to optimise their diversification and potential returns,” says chief executive officer Alan Feldman.
Through an interval structure, the fund offers a liquidity feature of quarterly redemptions at NAV of no less than five per cent of the total shares outstanding, redeeming more frequently than most other real estate and private equity investments.