WINTER PARK FL-Resource Real Estate Opportunity REIT has acquired the Nob Hill Apartments here for $10.1 million, excluding closing costs.

Nob Hill is a 192-unit multifamily housing community that consists of seven buildings and sits on approximately 10 acres. The property is located on the eastern border of Winter Park, approximately 200 yards from the major intersection of Semoran Boulevard and Aloma Avenue. The property is located a few miles from downtown Orlando. The amenities at the complex include a swimming pool, fitness center, club room, business center, theater, sauna, and tennis and shuffleboard courts.

The Philadelphia-based REIT intends to invest additional capital on property improvements, including individual unit and common area renovations and repairs, exterior painting and landscaping, as well as installing its experienced property management team, the company states. Resource Real Estate Opportunity REIT owns and manages real estate assets with an aggregate value of approximately $1.8 billion and is a wholly owned subsidiary of Resource America.