Announced
Financials
Tags
real estate investment trust
United States
Acquisition
Pending
Single Bidder
Public
residential property
Residential REITs
Friendly
Merger
Synopsis
KBS Strategic Opportunity REIT, a non-traded Real Estate Investment Trust, agreed to acquire Reven Housing REIT, which engages in the acquisition and ownership of portfolios of occupied single-family rental properties in the United States, for $57m in cash. Keith Hall, KBS Strategic Opportunity REIT Chief Executive Officer, stated, "This acquisition further expands SOR's commitment to the single-family rental business, which is an area of significant potential growth. The asset class is a strong fit for our investor base, and we look forward to exploring further acquisitions."
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