Pretium, an investment firm managing over $50 billion in assets, has announced the closing of its sixth single-family housing fund, amassing $1.5 billion in commitments. The fund aims to enhance affordable housing availability in the U.S., drawing support from a diverse group of investors, including insurance companies, U.S. pension plans, and wealth managers.
The fund focuses on build-to-rent single-family homes and communities in suburban areas experiencing significant population and economic growth. This growth is driven by U.S. demographic trends favoring regions with warmer climates and lower living costs.
Don Mullen, Founder and CEO of Pretium, stated, “We are pleased to exceed our target for this fund, which underscores the strength of our platform and provides capital to support builders in creating homes for families. This fund addresses the shortage of quality single-family homes in key markets across the country.”
Josh Pristaw, Pretium’s Head of Real Estate, added, “Pretium’s track record in the single-family housing industry demonstrates our ability to deliver access, optionality, and value to renters. We see significant opportunities to work with homebuilder partners as regional banks reduce financing and high inflation impacts supply. Investing in new housing and supporting builders in constructing more homes is essential in a market facing housing shortages.”
Since 2020, Pretium has invested over $2.62 billion in new build-to-rent construction in the U.S., resulting in more than 7,800 new homes across 37 cities and 15 states.
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By Proptechbuzz
By Ravi Kumar
