Current Report Filing (8-k)
31 August 2018 - 5:33AM
Edgar (US Regulatory)
UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
WASHINGTON, DC 20549
FORM 8-K
CURRENT REPORT
Pursuant to Section 13 or 15(d) of
the Securities Exchange Act of 1934
Date of report (Date of earliest event
reported): August 28, 2018
REVEN HOUSING REIT, INC.
(Exact Name of Registrant as Specified in
Its Charter)
Maryland
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000-54165
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84-1306078
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(State or Other Jurisdiction of Incorporation)
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(Commission File Number)
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(I.R.S. Employer Identification Number)
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875 Prospect Street, Suite 304
La Jolla, CA 92037
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(Address of principal executive offices)
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(858) 459-4000
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(Registrant’s telephone number, including area code)
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Not applicable
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(Former name or former address, if changed since last report)
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Check the appropriate box below if the Form 8-K filing
is intended to simultaneously satisfy the filing obligations of the registrant under any of the following provisions.
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Written communications pursuant to Rule 425 under
the Securities Act (17 CFR 230.425)
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Soliciting material pursuant to Rule 14a-12 under
the Exchange Act (17 CFR 240.14a-12))
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Pre-commencement communications pursuant to Rule 14d-2(b) under
the Exchange Act (17 CFR 240.14d-2(b))
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Pre-commencement communications pursuant to Rule 13e-4(c) under
the Exchange Act (17 CFR 240.13e-4(c))
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Indicate by check mark whether the
registrant is an emerging growth company as defined in Rule 405 of the Securities Act of 1933 (§230.405 of this chapter) or
Rule 12b-2 of the Securities Exchange Act of 1934 (§240.12b-2 of this chapter).
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Emerging growth company
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If an emerging growth company, indicate by check mark if the
registrant has elected not to use the extended transition period for complying with any new or revised financial accounting standards
provided pursuant to Section 13(a) of the Exchange Act.
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Item 1.01 Entry into a Material Definitive Agreement.
Birmingham 59 Purchase and Sale Agreement
On August 28, 2018,
Reven Housing REIT, Inc. (the “Company”) entered into a Single Family Homes Real Estate Purchase and Sale Agreement
(the “Agreement”) with Prominence Homes LLC, an Alabama limited liability company ( “Seller”), to purchase
a portfolio of up to 59 single-family homes located in the Birmingham, Alabama metropolitan area from the Seller. The Seller is
unaffiliated with the Company.
The Agreement provides
for a deposit of $102,704 and a total contract purchase price for the 59 properties of $10,270,400, subject to certain adjustments.
The Birmingham 59 homes
are currently under construction and the Company intends to purchase the homes in batches as they are completed and leased. From
time to time during the 150 day period following the date of the Agreement, Seller shall notify the Company of the completion of
groups of homes, comprising not less than 15 homes per group. For a 30-day period commencing on the Company’s receipt of
the completion notice, executed lease agreement for each home and certain due diligence information (the “Due Diligence Period”),
the Company may conduct inspections to determine whether the properties are suitable for the Company’s purposes, in the Company’s
sole discretion.
The Agreement provides
that the 59 homes will be acquired at multiple closings on or before the 150
th
day following the date of the Agreement.
The Company’s purchase of the 59 single-family homes is subject the Company’s due diligence review of the properties.
There can be no assurance that the Company will consummate the acquisition.
The foregoing description
of the Agreement is qualified in its entirety by reference to the full text of the agreement, which is attached hereto as Exhibit
10.1 and is incorporated herein by reference.
Item 9.01 Financial Statements and Exhibits
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(d) Exhibits.
The following exhibit is filed with this
report:
SIGNATURES
Pursuant to the requirements of the Securities
Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.
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REVEN HOUSING REIT, INC.
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Dated: August 30, 2018
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/s/ Chad M. Carpenter
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Chad M. Carpenter,
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Chief Executive Officer
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