LA JOLLA, Calif.--(BUSINESS WIRE)--
Reven Housing REIT, Inc. (the “Company”, “Reven”) (RVEN), an owner and operator of single-family residential properties, today announced that it has successfully closed on the acquisition of 89 single family homes in the Oklahoma City, Oklahoma metropolitan area.
The purchase price for the 89 homes was approximately $7.1 million, exclusive of closing costs. The Company funded the purchases on an all cash basis.
Chad Carpenter, Chief Executive Officer of Reven Housing, commented, “We are pleased to announce Reven’s expansion into the Oklahoma City metropolitan market with the acquisition of 89 single family homes. Oklahoma City is an ideal fit for our expansion into a new market. Mike Soni, Investment Advisor and Head of Acquisition states,“Demand in the local market for affordable housing has been strong supported by Oklahoma’s job growth. This portfolio provides scale as we enter a new market as well as geographic diversification.”
About Reven Housing REIT, Inc.
Reven Housing REIT, Inc. (RVEN) engages in the acquisition and ownership of portfolios of occupied single-family rental properties in the United States. Reven currently owns and operates 938 single family rental properties in Alabama, Florida, Georgia, Mississippi, Oklahoma, Tennessee and Texas.
For more information, please visit http://www.revenhousingreit.com/.