A California real estate investment trust recently finalized another acquisition in Birmingham.
Reven Housing REIT recently purchased 27 single-family homes in the Birmingham area for a total of $1.65 million, exclusive of closing costs.
The deal follows a similar one last year, in which Reven bought 68 single-family homes for more than $5 million.
“The closing represents our third acquisition and second consecutive acquisition in Birmingham, Alabama. We now own 144 homes in this market, making it our third-largest market,” said Chad M. Carpenter, chairman and chief executive officer of Reven. “Our portfolio has grown to 830 homes located primarily in the Southeast U.S.”
Information from Reven said that it acquires and operates portfolios of occupied single-family residential properties across Alabama, Florida, Georgia, Mississippi, Tennessee and Texas.
The deal brings the company’s holdings in the Birmingham market to 144 properties.