REVEN HOUSING REIT, INC. (NASDAQ:RVEN) Files An 8-K Entry into a Material Definitive Agreement
Item 1.01
| Entry into a Material Definitive Agreement. |
Birmingham 72 Purchase and Sale Agreement
On December 9, 2016, Reven Housing REIT, Inc. (the Company)
entered into a Single Family Homes Real Estate Purchase and Sale
Agreement (the Birmingham 72 Agreement) with Easy Rentals, LLC,
an Alabama limited liability company (Easy Rentals), for the
Companys purchase of a portfolio of up to 72 single-family homes
located in the Birmingham, Alabama, metropolitan area from Easy
Rentals. The Birmingham 72 Agreement was filed as an exhibit to
the Companys Current Report on Form 8-K filed with the SEC on
December 9, 2016.
On February 17, 2017, the Company and Easy Rentals entered into
an amendment to the Birmingham 72 Agreement, to which the parties
amended the Birmingham 72 Agreement to extend the closing date
and the Companys due diligence period to no later than March 6,
2017.
The foregoing description of the amendment to the Birmingham 72
Agreement is qualified in its entirety by reference to the full
text of the amendment, which is attached hereto as Exhibit 10.1.
Atlanta 50 Purchase and Sale Agreement
On December 7, 2016, the Company entered into a Single Family
Homes Real Estate Purchase and Sale Agreement (the Atlanta 50
Agreement) with Golden Alliance Management, LLC, a Georgia
limited liability company (Golden Alliance), for the Companys
purchase of a portfolio of up to 50 single-family homes located
in the Atlanta, Georgia, metropolitan area from Golden Alliance.
The Atlanta 50 Agreement was filed as an exhibit to the Companys
Current Report on Form 8-K filed with the SEC on December 12,
2016.
On February 17, 2017, the Company and Golden Alliance entered
into an amendment to the Atlanta 50 Agreement, to which the
parties amended the Atlanta 50 Agreement to exclude 10 homes from
the portfolio to be purchased and to require that Golden Alliance
conduct certain repairs on the remaining 40 homes, at its
expense, prior to the closing date.
The foregoing description of the amendment to the Atlanta 50
Agreement is qualified in its entirety by reference to the full
text of the amendment, which is attached hereto as Exhibit 10.2.
| Item 9.01 | Financial Statements and Exhibits. |
(d) Exhibits.
| The following exhibits are filed with this report: | |
| 10.1 |
Amendment dated February 17, 2017 to Single Family Homes |
| 10.2 |
Amendment dated February 17, 2017 to Single Family Homes |
About REVEN HOUSING REIT, INC. (NASDAQ:RVEN)
Reven Housing REIT, Inc. is a holding company. The Company is an internally managed real estate investment trust. It is engaged in the acquisition, ownership and operation of portfolios of leased single family homes in the United States. Its objective is to generate cash flow and distribute resulting profits to its stockholders in the form of distributions, while gaining home price appreciation at the same time through the ownership of its portfolio properties. It operates its portfolio properties as single family rentals (SFRs), and generates its revenue from rental income from the existing tenants of the SFRs. As of December 31, 2015, it owned a total of 527 homes, of which 256 homes were in the Jacksonville, Florida metropolitan area; 168 homes were in the Houston, Texas metropolitan area; 94 homes were in the Memphis, Tennessee metropolitan area (with two of the Memphis homes located across the border in Mississippi), and nine homes were in the Atlanta, Georgia metropolitan area. REVEN HOUSING REIT, INC. (NASDAQ:RVEN) Recent Trading Information
REVEN HOUSING REIT, INC. (NASDAQ:RVEN) closed its last trading session up +0.09 at 5.89 with 200 shares trading hands.
