Reven Capital Launches Reven Housing REIT
LA JOLLA, Calif. July 2, 2012 -- Reven Capital, LLC today announced that it CEO Chad Carpenter has acquired 6,000,000 shares of a public company for $128,606.00 and now owns 71.8% of the outstanding shares and control. The name of the company is being changed to Reven Housing REIT, Inc. and the ticker symbol to RVEN.
Reven Housing REIT, Inc., (RVEN) business model is to acquire and own portfolios of occupied single family rental properties in the United States. The company intends to qualify as a REIT for federal income tax purposes. As a REIT, it would not be subject to federal income tax to the extent that it distributes at least 90% of its taxable income to its shareholders.
Mr. Carpenter states, “There is a huge opportunity to acquire portfolios of leased homes and get higher yields than a lot of the institutional investors buying the empty homes one at a time. There are over 12 million rented homes today and this asset class is just in the beginning days of being institutionalized. We predict there will be five public SFR REIT’s by 2015 and 10 or more by 2025.”
Reven Capital is a premier US Private Equity and Real Estate investment firm. Reven Capital was founded in 2009 by Chad M. Carpenter our Chairman and Chief Executive Officer. Mr. Carpenter has been involved in over $2.5 billion in real estate transactions and has over 27 years of real estate experience. He has sponsored four private real estate equity funds and owned 90 office buildings comprising of approximately 11 million square feet throughout his career. Institutional, foreign and high net worth investors have and continue to invest with Mr. Carpenter and his sponsored investments.
For More Information, Contact:
Reven Capital, LLC
875 Prospect Street, Suite 304
La Jolla, California 92037