Pretium, a New York City-headquartered investment firm with over $50 billion in assets under management, has closed its sixth single-family housing fund above target with $1.5 billion in aggregate commitments to create more affordable housing.
According to the firm, the fund invests in build-to-rent single-family homes and communities in suburban markets experiencing above average population and economic growth. The fund received strong support from a diversified group of existing and new investors, including insurance companies, U.S. pension plans, and U.S. wealth managers, the company added.
Since 2020, Pretium has invested more than $2.62 billion toward new build-to-rent construction, creating more than 7,800 new homes across 37 cities and 15 states.
“We are pleased to close our sixth single-family housing fund above our target, which is a testament to the strength of our platform and provides us with more capital to keep builders building homes for families,” said Don Mullen, founder and CEO of Pretium. “This fund invests in growing the stock of quality single-family homes in key markets across the country, helping solve for the tremendous shortage of viable housing in the U.S. Pretium has developed an integrated real estate ecosystem with the scale and expertise to capitalize on shifts in the market and expand access to quality housing that is resonating with investors, residents, and our communities.”
;
