Pretium, Ares Management and Front Yard Residential complete first-ever single-family rental take-private transaction

Pretium and a group of its investors, along with funds managed by the Real Estate Equity and Alternative Credit strategies of Ares Management Corp., have completed the acquisition of Front Yard Residential Corp.

Don Mullen, chairman and CEO at Pretium, said, “There is significant opportunity in the SFR market and a clear sense of urgency among institutional investors to deploy capital to this asset class given record-high occupancy rates, stable cash-flow characteristics, and potential for continued capital appreciation. With the Front Yard transaction now complete, we are exceptionally well positioned to further capitalize on a diverse set of SFR investment opportunities. We look forward to leveraging our unique operating platform and scale to further drive operating margins and deliver attractive returns to investors."

The completion of the transaction makes Pretium the second-largest owner and operator of SFR properties in the United States with a portfolio of mor