Reven Housing REIT, Inc. (the “Company”, “Reven”) (NASDAQ: RVEN), an
owner and operator of single-family residential properties, announced
today that it is actively assessing the impact of Hurricane Irma on its
rental homes in Jacksonville.
“On behalf of Reven, we extend our heartfelt thoughts to all of Florida,
our residents and our team members in Jacksonville as they continue to
recover from the aftermath of Hurricane Irma,” stated Chad Carpenter,
Chairman & Chief Executive Officer of Reven Housing REIT, Inc. “Our
local team members are in the early phases of assessing the impact of
the storm on our homes and are working diligently to make sure our homes
get the attention they need so our residents return to their homes and
resume their daily routines and activities.” Mr. Carpenter continued:
“Based on preliminary assessments, the damage sustained was largely wind
related including tree damage and some roof leaks. We are confident that
Reven will be able to cover its deductibles and expenses not covered by
its insurance policies relating to its Jacksonville and Houston
portfolios due to Hurricane Irma and Hurricane Harvey with its current
Mr. Carpenter added: “Furthermore, we are pleased to report that our
properties in Memphis, Tennessee, Atlanta, Georgia and Birmingham,
Alabama were not impacted by Hurricane Irma or Hurricane Harvey.”
Reven owns 255 homes in the greater Jacksonville area. The Company
maintains property and casualty insurance policies that cover floods and
damage related to named storms subject to deductibles and limits.
About Reven Housing REIT, Inc.
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 single family
rental properties in Alabama, Florida, Georgia, Mississippi, Tennessee
For more information, please visit http://www.revenhousingreit.com/.
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