LA JOLLA, Calif., Oct. 31, 2013 /PRNewswire/ -- Reven Housing
REIT, Inc. ("Reven" or the "Company") (OTCQB: RVEN) today announced
that it has completed the closing of a bulk SFR portfolio of 150,
100% leased homes in Houston,
Texas. Reven now owns portfolios of SFR's in both
Georgia and Texas.
The homes average 1,429 square feet and are mostly three bedroom
two bath homes. The majority of homes have had major rehab work
done within the last two years and most of the leases are one year
and some are month to month.
Additional details regarding the acquisition can be found in the
Form 8-K to be filed with the U.S. Securities and Exchange
Commission.
Chad M. Carpenter, Chairman and
CEO, explained, "This acquisition is our first acquisition in
Texas and is a major milestone in
the growth of our Company. We are currently under contract to
acquire another portfolio of SFR's in Texas which is scheduled to close in January
2014. Our plan is to move quickly in acquiring additional
portfolios of SFR's in Texas and
other states that meet our investment criteria."
Rickey Williams, President of Red
Door Housing who sold the properties, states, "We are very excited
about this new relationship with Reven, we will continue on as
property managers and intend to sell more leased homes to them in
the future. Reven's management team is very professional,
experienced and a pleasure to work with."
This press release contains forward-looking statements that
relate to expectations, beliefs, projections, future plans and
strategies, anticipated events and similar expressions.
Forward-looking statements may be identified by use of words such
as "may," "will," "should," "expects," "intends," "plans,"
"anticipates," "believes," "estimates," or "potential" or similar
words or phrases which are predictions of or indicate future events
or trends. Statements such as those concerning potential
acquisition activity, investment objectives, strategies,
opportunities, other plans and objectives for future operations or
economic performance are based on the Company's current
expectations, plans, estimates, assumptions and beliefs that
involve numerous risks and uncertainties. Any of these
statements could prove to be inaccurate and actual events or
investments and results of operations could differ materially from
those expressed or implied, including the ability of the Company to
consummate additional closings of the private placement. To
the extent that the Company's assumptions differ from actual
results, the Company's ability to meet such forward-looking
statements, including its ability to invest in a diversified
portfolio of quality real estate investments, may be significantly
and negatively impacted. You are cautioned not to place undue
reliance on any forward-looking statements and the Company
disclaims any obligation to publicly update or revise any
forward-looking statement to reflect changes in underlying
assumptions or factors, new information, future events or other
changes. Please refer to Company's Annual Report on Form 10-K
filed with the Securities and Exchange Commission on for the year
ended December 31, 2012 filed with
the SEC on March 29, 2013, and
subsequently filed SEC reports, for further information.
SOURCE Reven Housing REIT, Inc.