Reven Housing provides update on Hurricane Irma, 'actively assessing' impact
Reven Housing REIT said that it is actively assessing the impact of Hurricane Irma on its rental homes in Jacksonville. Chad Carpenter, Chairman & CEO, said "Our local team members are in the early phases of assessing the impact of the storm on our homes and are working diligently to make sure our homes get the attention they need so our residents return to their homes and resume their daily routines and activities." Carpenter continued: "Based on preliminary assessments, the damage sustained was largely wind related including tree damage and some roof leaks. We are confident that Reven will be able to cover its deductibles and expenses not covered by its insurance policies relating to its Jacksonville and Houston portfolios due to Hurricane Irma and Hurricane Harvey with its current cash reserves." Carpenter added: "Furthermore, we are pleased to report that our properties in Memphis, Tennessee, Atlanta, Georgia and Birmingham, Alabama were not impacted by Hurricane Irma or Hurricane Harvey."