Reven Housing REIT, Inc. Announces Acquisition of an Additional 27 Homes in Birmingham, AL
February 20 2018 - 03:31PM
Business Wire
Reven Housing REIT, Inc. (the “Company”, “Reven”) (NASDAQ:RVEN),
an owner and operator of single-family residential properties,
today announced that it finalized its acquisition of 27 renovated
single-family homes in Birmingham, Alabama on February 16,
2018.
The contract purchase price for the 27 acquired properties was
approximately $1,659,000, exclusive of closing costs. The Company
funded the purchase from additional loan proceeds totaling
$2,736,630 from SouthPoint Bank of Alabama, which also closed on
February 16, 2018. This loan increases the Company’s loan with
SouthPoint Bank to $6,530,550.
Chad M. Carpenter, Chairman and Chief Executive Officer of
Reven, commented, "The closing represents our third acquisition and
second consecutive acquisition in Birmingham, Alabama. We now own
144 homes in this market, making it our third largest market. Our
portfolio has grown to 830 homes located primarily in the southeast
U.S."
About Reven Housing REIT, Inc.
Reven Housing REIT, Inc. (NASDAQ: RVEN) engages in the
acquisition and ownership of portfolios of occupied single-family
rental properties in the United States. Reven currently owns and
operates single family rental properties in Alabama, Florida,
Georgia, Mississippi, Tennessee and Texas.
For more information, please visit
http://www.revenhousingreit.com/.
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version on businesswire.com: http://www.businesswire.com/news/home/20180220006498/en/
Investor Relations:ICR, Inc.Evelyn Infurna,
203-682-8265evelyn.infurna@icrinc.com
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