Resource Interval Fund Launches New Share Class
Resource Real Estate Diversified Income Fund (RREDX), a real estate-focused closed-end interval fund, launched a new share class with a maximum load of 4.25 percent.
Class L shares include a 3.5 percent sales commission and a 0.75 percent dealer-manager fee, as well as an annual 0.25 percent shareholder servicing fee and an annual 0.25 percent distribution fee.
The sales load payable by each investor depends upon the amount invested and may range from 1.25 percent to 4.25 percent.
The minimum initial investment is $2,500 for regular accounts and $1,000 for retirement plan accounts. The dealer manager for the offering is Resource Securities Inc., and ALPS Distributors serves as the distributor.
Resource Real Estate Diversified Income Fund commenced its $1 billion offering in March 2013 and has raised $196 million in investor equity since inception, according to Summit Investment Research. The interval fund invests in private real estate equity, global traded REIT equity, and real estate credit. The fund also offers Class A, Class C, Class D, Class I, Class W, Class U and Class T shares. As of June 1, 2017, the fund’s net asset value per share was $10.26 for Class A shares.
Resource Real Estate Inc., the fund’s investment advisor, specializes in direct real estate investments, commercial real estate lending and global securities. Resource is a wholly-owned subsidiary of C-III Capital Partners LLC, a real estate investment management and commercial property services company, with $12.3 billion in real estate and debt assets under management as of December 31, 2016.
