Reven Housing REIT, Inc. to Review Strategic Alternatives
LA JOLLA, Calif.--(BUSINESS WIRE)--Mar 22, 2019--Reven Housing REIT, Inc. (the “Company”, “Reven”) (NASDAQ: RVEN), an owner and operator of single-family residential properties, today announced that its Board of Directors is conducting a review of strategic options focusing on maximizing shareholder value. The Company has engaged RBC Capital Markets to assist in this process.
“While we have worked hard to actively manage, scale and add value to our 989 single family home platform, our efforts have not been acknowledged by the market. As fiduciaries of our shareholder’s capital, it is our obligation to evaluate all of Reven’s options to enhance shareholder value,” said Chad Carpenter, Chairman and Chief Executive Officer.
The Company plans to explore a wide range of strategic alternatives that include, among others, a sale of the Company, business combination, merger with another company, strategic investment/financing, or a funded collaboration or partnership which would allow the Company to continue with its current business plan of buying and managing single-family residential properties throughout the southeast US.
There can be no assurances that the exploration of strategic alternatives will result in any transaction. Reven does not intend to discuss or disclose developments with respect to the process unless and until otherwise determined that further disclosure is appropriate or required by regulation or law. No formalized timetable has been established for the completion of the strategic review.
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 989 single family rental properties in Alabama, Florida, Georgia, Mississippi, Oklahoma, Tennessee and Texas.
For more information, please visit http://www.revenhousingreit.com/.
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CONTACT: Investor Relations:
Evelyn Infurna, 203-682-8265
KEYWORD: UNITED STATES NORTH AMERICA CALIFORNIA
INDUSTRY KEYWORD: REIT CONSTRUCTION & PROPERTY RESIDENTIAL BUILDING & REAL ESTATE
SOURCE: Reven Housing REIT, Inc.
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PUB: 03/22/2019 06:30 AM/DISC: 03/22/2019 06:30 AM