Pretium has completed a transaction for its 2013 single-family rental (SFR) fund, capitalizing on robust institutional demand for the sector, and nearly doubling net investor equity through rental income growth and long-term appreciation. The transaction was led by Landmark Partners as well as new and existing investors, certain of whom elected to add incremental capital. The innovative transaction provided all investors the option to exit or participate in the next phase of growth.
The newly capitalized vehicle, which consists of more than 20,000 cash-flowing rental homes, will continue to be managed by Pretium and serviced by its property and asset management platform, Progress Residential, the largest private SFR operator.
Donald Mullen, Pretium’s CEO, commented, “We are delighted with the support we received from new and existing investors on this transaction, which highlights global investors’ continued recognition of our demonstrated leadership in the $4 tr
