Capital Invested in New Housing Adds More Than 7,500 New Homes Across 11 States in the U.S.
Furthers Commitment to Driving Long-Term, Sustainable Housing Supply
New York – February 5, 2024 – Pretium, a specialized investment firm with more than $50 billion in assets under management, today announced that it has invested more than $2.5 billion toward new housing construction in the United States, resulting in the addition of more than 7,500 new homes across 37 cities and 11 states.
“Decades of under-building and under-investment have led to today’s shortage of viable housing in the United States. That deficit can only be fixed with new capital invested to create new housing supply,” said Josh Pristaw, Pretium’s Head of Real Estate. “We are proud to be in a position to create necessary new housing throughout the United States and eager to continue investing in new homes to expand housing choice and supply over the next decade.”
The $2.5 billion Pretium has deployed is adding more than 7,500 new homes across 37 cities and 11 states. Investing to expand build-to-rent homes helps meet the needs of modern families and grows the supply of new homes in high-demand communities with sought after living space and easy access to transportation and commuter lines.
“At a time when new housing is needed more than ever, Pretium is putting private capital to work and creating long-term solutions, and we remain focused on expanding our efforts to serve even more communities,” added Matt Johnston, Managing Director, Co-Head of Acquisitions and Head of Build-To-Rent at Pretium.
About Pretium
Pretium is a specialized investment firm focused on U.S. residential real estate, residential credit, and corporate credit. Pretium was founded in 2012 to capitalize on investment and lending opportunities arising as a result of structural changes, disruptions, and inefficiencies within the economy. Pretium has built an integrated analytical and operational ecosystem within the U.S. housing, residential credit, and corporate credit markets, and believes that its insight and experience within these markets create a strategic advantage over other investment managers. Pretium’s platform has more than $50 billion of assets, comprising real estate investments across 30 markets in the U.S., and employs more than 4,000 people across 50 offices, including its New York headquarters, Dubai, London, Seoul, and Sydney. Please visit www.pretium.com for additional information.
Contacts
Jon Keehner / Lyle Weston / Erik Carlson
Joele Frank, Wilkinson Brimmer Katcher
212-355-4449