The portfolio of 97 single-family rentals is located in Houston and was purchased for $9M. Money from the most recent secondary offering was used to fund the acquisition.
The purchased properties average 1,482 square feet and are mostly 3-BRs, 2 baths. 55 are currently subject to one-year leases, 5 are vacant, and 37 are month-to-month.
Reven's (OTCQB:RVEN) portfolio is now up to 624 homes in the southeast, primarily Houston, Jacksonville, Memphis, and Atlanta.