Reven Housing REIT, Inc. Announces Memphis, TN Portfolio Acquisition
10 Diciembre 2018 - 4:00PM
Business Wire
Reven Housing REIT, Inc. (the “Company”, “Reven”) (NASDAQ:RVEN),
an owner and operator of single-family residential properties,
today announced that it has successfully closed on the acquisition
of 23 single family homes in Memphis, Tennessee metropolitan area
on December 6, 2018.
The contract purchase price for the portfolio was approximately
$1,516,100, exclusive of closing costs. The Company funded the
purchase with proceeds from the Freddie Mac loan the Company
entered into on October 1, 2018.
Chad Carpenter, Chief Executive Officer of Reven Housing, added,
“We are pleased to announce the addition of 23 homes to our
holdings in the greater Memphis market; this incremental investment
makes Memphis our fourth largest operating market with a total 143
single family homes. Continued job creation and low unemployment
make Memphis an ideal market for Reven. Our strategy is focused on
identifying thriving primary markets in the south and Memphis’
fundamentals exemplify the types of markets where we believe we can
add value. We anticipate that this portfolio will contribute
accretively to our overall NOI growth as the homes are refurbished
and integrated onto our operating platform.”
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 849 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: https://www.businesswire.com/news/home/20181210005843/en/
Investor Relations:ICR, Inc.Evelyn Infurna,
203-682-8265evelyn.infurna@icrinc.com
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