PHOENIX, Oct. 31, 2016 /PRNewswire/ -- American Housing Income Trust, Inc.® ("AHIT" or the "Company") (OTCQB: AHIT), an internally managed real estate investment trust (REIT) that owns and operates single-family rental properties, today announced that the Board of Directors has elected current Board member Mr. James Stevens, as Chief Executive Officer. Mr. Stevens replaces Mr. Jeff Howard, who resigned to pursue other opportunities.
Mr. Sean Zarinegar, Chairman, stated, "On behalf of the Board, I would like to thank Jeff for his leadership and commitment in helping us build American Housing Income Trust. We wish him the very best in his future endeavors. With the rapid and continued growth of our portfolio, along with the expected roll-out of a new proprietary property management system, we felt the time was right for a leadership transition. The Board is confident that AHIT's executive management team of committed and experienced professionals possess the knowledge and expertise to deliver strong stockholder value by executing on a distinctive plan to grow our portfolio."
Background on James Stevens
James Stevens has operated in real estate for over 30 years, including holding several positions as a Real Estate Broker, Certified Property Manager, and builder. He started investing in real estate in 1987. He currently owns and manages 972 units, primarily located in middle Tennessee, with a current value of $40 million, and manages approximately 300 units for other owners.
He also has a strong accounting and financial background, having started as a CPA in New York in 1985, and quickly rose to become an Auditor for Esselte/Pendaflex, then Controller for Nielsen & Bainbridge in Gainesboro, TN for over 18 years. James earned his B.S. in accounting from SUNY at Plattsburg, and then went on to complete his MBA in business at Tennessee Technological University in 1994.
James Stevens Commentary
Mr. Stevens stated, "I appreciate both Sean and the Board's support and their vote of confidence by electing me as Chief Executive Officer. I am excited about the road ahead. Our vision and strategy for AHIT and its potential remain unchanged. We expect to leverage a robust network of brokers, builders, and developers to capitalize on a strong acquisition pipeline of quality single-family homes and continue to build our portfolio. I look forward to working with our talented employees to lead AHIT into the next phase of development."
For additional information on AHIT Advantage, click the following link:
Recent Direct Public Offering Announcement
The Company recently launched a $3.0 million direct public offering as a result of its recent post-effective amendment to its registration statement. Proceeds of the offering, which is being priced at $1.00 per share, are intended to expand the Company's single-family residence portfolio.
Information about the Offering
Please email AHIT at email@example.com or call the Company at (623) 551-5808 if you have any questions. You may also obtain a written prospectus for the offering by contacting the Company at the foregoing email address and phone number or by writing to the Company at American Housing Income Trust, Inc., ATTN: Investor Relations, 34225 N. 27th Dr Bldg 5 Ste 238, Phoenix, AZ 85085. You may also find more information regarding the offering at http://ahitrust.com/Public-Offering.asp.
About American Housing Income Trust, Inc.
American Housing Income Trust, Inc., is incorporated in the State of Maryland owns and operates single family rentals in Arizona, Nevada and Texas and has plans to scale its operations nationally. American Housing Income Trust, Inc. is a publicly traded company on OTC Markets Group Inc. OTCQB listing venue as a compliant, fully reporting entity with the United States Securities and Exchange Commission. The Company's focus is on employing a disciplined acquisition strategy, operational efficiencies, as well as maintaining a full understanding of local, regional, and national housing fundamentals. As part of its marketing strategy, it promotes the benefits of single-family rental living compared to apartment dwelling. The company intends to qualify as a REIT for federal income tax purposes and would not be subject to federal income tax to the extent that it distributes at least 90% of its taxable income to its shareholders. American Housing Income Trust, Inc. has incorporated the assets of its subsidiaries that launched their initial business plan to acquire portfolios of SFR's in 2010 and is headquartered in Phoenix, Arizona through its wholly-owned subsidiary, American Realty Partners, LLC. For information on American Housing Income Trust, visit www.ahitrust.com.
Forward Looking Statement
This press release contains forward-looking statements that relate to expectations, beliefs, projections, future plans and strategies, anticipated events and similar expressions. Forward-looking statements may be identified by use of words such as "may," "will," "should," "expects," "intends," "plans," "anticipates," "believes," "estimates," or "potential" or similar words or phrases which are predictions of or indicate future events or trends. Statements such as those concerning potential acquisition activity, investment objectives, strategies, opportunities, other plans and objectives for future operations or economic performance are based on the Company's current expectations, plans, estimates, assumptions and beliefs that involve numerous risks and uncertainties. Any of these statements could prove to be inaccurate and actual events or investments and results of operations could differ materially from those expressed or implied, including the ability of the Company to qualify and operate as a REIT. To the extent that the Company's assumptions differ from actual results, the Company's ability to meet such forward-looking statements, including its ability to invest in a diversified portfolio of quality real estate investments and to qualify and operate as a REIT, may be significantly and negatively impacted. You are cautioned not to place undue reliance on any forward-looking statements and the Company disclaims any obligation to publicly update or revise any forward-looking statement to reflect changes in underlying assumptions or factors, new information, future events or other changes. Please refer to Company's filings with the Securities and Exchange Commission for further information.
To view the original version on PR Newswire, visit:http://www.prnewswire.com/news-releases/american-housing-income-trust-announces-leadership-change-appoints-real-estate-industry-veteran-james-stevens-as-chief-executive-officer-300353852.html
SOURCE American Housing Income Trust, Inc.