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), as amended
on February 17, 2017, 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 March 1, 2017, the Company and Easy Rentals entered into a
Second Amendment to the Birmingham 72 Agreement, to which the
parties amended the Birmingham 72 Agreement to extend the
Companys due diligence period and the closing date to no later
than March31, 2017 and April10, 2017, respectively.
The foregoing description of the amendment to the Birmingham 72
Agreement is qualified in its entirety by reference to the full
text of the Second Amendment, which is attached hereto as Exhibit
10.1.
| Item 9.01 | Financial Statements and Exhibits. |
(d) Exhibits.
The following exhibits are filed with this report:
| 10.1 |
Second Amendment dated March 1, 2017 to Single Family Homes Real Estate Purchase and Sale Agreement (Birmingham 72) dated December 9, 2016. |
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 down -0.04 at 5.81 with 200 shares trading hands.
