KBS Strategic Opportunity REIT to acquire Reven Housing REIT for $57m.

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."