Reven Housing REIT, Inc. Acquires 27 Additional Single-Family Homes in Oklahoma City
LA JOLLA, Calif.--(BUSINESS WIRE)--Jan 3, 2019--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 an additional 27 single family homes in the Oklahoma City, Oklahoma metropolitan area on December 28, 2018.
The purchase price for the 27 homes was approximately $5.75M million, exclusive of closing costs. The Company funded the purchase on an all cash basis.
Chad Carpenter, Chief Executive Officer of Reven Housing, commented, “Our second consecutive acquisition in the Oklahoma City metropolitan market reinforces our belief that strong job growth will increase the demand for affordable housing. This acquisition brings the total number of homes in the Oklahoma City metropolitan market to 116.”
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 965 single family rental properties in Alabama, Florida, Georgia, Mississippi, Oklahoma, Tennessee and Texas.
For more information, please visit http://www.revenhousingreit.com/.
View source version on businesswire.com:https://www.businesswire.com/news/home/20190103005199/en/
CONTACT: Investor Relations:
Evelyn Infurna, 203-682-8265
KEYWORD: UNITED STATES NORTH AMERICA CALIFORNIA OKLAHOMA
INDUSTRY KEYWORD: REIT CONSTRUCTION & PROPERTY RESIDENTIAL BUILDING & REAL ESTATE OTHER CONSTRUCTION & PROPERTY
SOURCE: Reven Housing REIT, Inc.
Copyright Business Wire 2019.
PUB: 01/03/2019 07:00 AM/DISC: 01/03/2019 07:01 AM