Crescent Communities and Pretium Announce Second HARMON Build-to-Rent Community in Growing Charlotte Market

PRESS RELEASE

Crescent Communities and Pretium Announce Second HARMON Build-to-Rent Community in Growing Charlotte Market

May 25, 2022

HARMON Five Points Offers New Approach to Single-Family Living in Historic Charlotte Neighborhood

Fourth BTR Community Under Development as Part of Joint Venture

CHARLOTTE, N.C. and NEW YORK, May 25, 2022 /PRNewswire/ — Crescent Communities and Pretium today announced the closing of land for the development of HARMON Five Points, the fourth build-to-rent (BTR) community under development, and second community in Charlotte, as part of their previously announced joint venture and commitment to invest $1 billion in new single-family build-to-rent communities across 14 key strategic growth markets. Construction for HARMON Five Points is expected to commence in June 2022 with first units slated to be delivered in early 2023.

“We are thrilled to announce our fourth development in partnership with Pretium and our second build-to-rent community in the Charlotte market,” said Tony Chen, Managing Director of Single-Family Build-to-Rent at Crescent Communities. “HARMON Five Points will offer new construction housing supply to the Historic West End neighborhood, and as a result, will provide housing options in an infill setting to accommodate the migration and population growth that Charlotte has experienced over the past several years. This community highlights our commitment to growing strategically in Charlotte, and we look forward to sharing more updates soon.”

HARMON Five Points will be a 76-home BTR community, offering residents the option to rent three-bedroom townhomes with outdoor balconies, private garages, and driveways. Residents will have access to dedicated communal spaces such as a fire pit with outdoor lounge seating and a lawn area for gatherings and pets. The community is adjacent to Five Points Park, located two miles from Uptown, and is walking distance from the Gold Line Streetcar and Stewart Creek Greenway.

“In partnership with Crescent, we have already acquired land and are developing four BTR communities in the southern United States, including 323 homes, since forming our joint venture in September,” said Matt Johnston, Managing Director and Head of Build-to-Rent at Pretium. “Crescent Communities shares our commitment to having a long-term, positive impact on our communities by developing new, quality, healthy homes for residents. By continuing to invest in desirable communities like HARMON Five Points, we are offering residents the choice to rent high-quality, single-family homes while increasing the supply of move-in ready homes across the country.”

HARMON Five Points will be located at 360 Seldon Drive, Charlotte, NC and will be built by DRB Group. Additional partners include lender Atlantic Union Bank, landscape architect LandDesign and architectural review by 505Design. Progress Residential, Pretium’s leading single-family rental management services platform, will provide leasing and property management services.

Additional details surrounding HARMON Five Points will be announced at a later date. A rendering is available here. Forthcoming imagery and logos are available upon request.

About Crescent Communities

Crescent Communities is a nationally recognized, market-leading real estate investor, developer and operator of mixed-use communities. We create high-quality, differentiated residential and commercial communities in many of the fastest growing markets in the United States. Since 1963, our development portfolio has included more than 77 multifamily communities, 24 million square feet of commercial space and 60 single family master-planned communities. Crescent Communities has offices in Charlotte, DC, AtlantaOrlandoNashvilleDallasDenverPhoenix and Salt Lake City. Our residential communities are branded NOVEL, RENDER and HARMON by Crescent Communities and our industrial developments are branded AXIAL by Crescent Communities.

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 secular 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 $40 billion of assets and employs approximately 4,000 people across 30 offices, including London and Dubai. Please visit www.pretium.com for additional information.

Contacts

Crescent Communities Media

Lauren Alligood
205-383-8450
lauren@sprouthouseagency.com

Pretium Media

Jon Keehner / Lyle Weston / Erik Carlson
Joele Frank, Wilkinson Brimmer Katcher
212-355-4449
Media-SFR@pretium.com

Adolfo Villagómez, Ejecutivo de Transformación Digital, se une a Progress Residencial como CEO

PRESS RELEASE

Adolfo Villagómez, Ejecutivo de Transformación Digital, se une a Progress Residencial como CEO

May 17, 2022

Ex ejecutivo de Home Depot dirigirá la próxima fase de crecimiento de la Plataforma Pretium

SCOTTSDALE, Ariz. – 17 de mayo de 2022 – Progress Residential, la plataforma líder de servicios de administración de arrendamientos para viviendas unifamiliares, anunció hoy que ha designado a Adolfo Villagómez como Director Ejecutivo (CEO), quien asumirá el cargo el 23 de mayo de 2022.

El Sr. Villagómez tiene más de veinte años de experiencia dirigiendo empresas orientadas al consumidor y generando crecimiento en mercados digitales y tradicionales. Más recientemente, el Sr. Villagómez ocupó el cargo de Presidente de homedepot.com y Director de Marketing para The Home Depot en Estados Unidos. Durante la pandemia, la estrategia comercial del Sr. Villagomez generó crecimiento que duplicó las ventas e ingresos para la empresa en su negocios digitales. Antes de su paso por The Home Depot, el Sr. Villagómez fue socio en McKinsey and Company, a cargo del área de Marketing y Ventas en Norteamérica.

“La posición de liderazgo de Pretium nos permite atraer talento extraordinario como Adolfo”, expresó Don Mullen, CEO de Pretium y fundador de Progress Residential. “En esta próxima etapa de innovación de Progress Residential, me complace dar la bienvenida a Adolfo como CEO.”

“La estrategia comercial de Adolfo, con un enfoque en los datos y la tecnología, así como sus conocimientos en materia de productos y cadena de suministro, acelerarán el liderazgo de Progress Residential en las áreas de adopción de hogares inteligentes, el movimiento a cero emisiones netas, y la transformación digital general del sector de bienes raíces”, añadió el Sr. Mullen.

“Hoy, como nunca antes, las empresas tienen la oportunidad de aprovechar la tecnología de formas que mejoren significativamente la experiencia del cliente, y al tiempo empujar su crecimiento”, expresó el Sr. Villagómez. “Progress Residential es un precursor sin igual en la industria de arrendamiento de viviendas unifamiliares y espero con ansias unirme a este equipo de enorme talento para generar soluciones de base tecnológica y escalables que mejoren aún más la experiencia de arrendamiento de nuestros residentes”.

El Sr. Villagómez comenzó su carrera en DuPont, en la unidad de negocio de Fluoroproductos. Tiene una maestría en Administración de Empresas de Yale School of Management y un bachillerato en Ingeniería Química de la Universidad Nacional Autónoma de México.

Acerca de Progress Residential

Progress Residential, la plataforma de arrendamiento para viviendas unifamiliares de Pretium, es líder de mercado en servicios inteligentes de administración de arrendamientos para viviendas unifamiliares, con personal, tecnología, escala y soluciones basadas en datos que agilizan las operaciones, optimizan el rendimiento de los activos y ofrecen una experiencia excepcional de arrendamiento y de vida para nuestros residentes. La plantilla de aproximadamente 2500 empleados de Progress Residential administra actualmente más de 80.000 viviendas en 30 mercados. Progress Residential ofrece también servicio externos de administración de inmuebles para inversores con carteras medianas a grandes de viviendas unifamiliares en arrendamiento y comunidades de construcciones para arrendamiento a través de los servicios de administración de Progress Residential. Don Mullen fundó Progress Residential en 2012. Para obtener más información, puede visitar www.rentprogress.com.

Acerca de Pretium

Pretium es una firma de inversión especializada dedicada al mercado de inmuebles residenciales de Estados Unidos, crédito residencial y crédito corporativo. Pretium fue fundada en 2012 para aprovechar la inversión a largo plazo y las oportunidades de préstamo que surgían de cambios estructurales, alteraciones en el mercado e ineficiencias dentro de la economía. Pretium ha forjado un ecosistema operativo y analítico integrado en los mercados de viviendas, crédito residencial y crédito corporativo de Estados Unidos, y está convencida de que su conocimiento y experiencia en estos mercados constituyen una ventaja estratégica respecto de otros gestores de inversión. La plataforma de Pretium gestiona activos por más de $40.000 millones y emplea aproximadamente 4.000 personas en 30 oficinas, incluidas las de Londres y Dubai. Para obtener más información, visite www.pretium.com.

Contacto con los medios:

Nikki Sloup
Vicepresidente de Comunicaciones y Relaciones Públicas
press@progressresidential.com

Jon Keehner / Kate Thompson / Lyle Weston
Joele Frank, Wilkinson Brimmer Katcher
212-355-4449

Digital Transformation Executive Adolfo Villagomez Joins Progress Residential as CEO

PRESS RELEASE

Digital Transformation Executive Adolfo Villagomez Joins Progress Residential as CEO

May 17, 2022

Former Home Depot Executive to Lead Pretium Platform’s Next Phase of Growth

SCOTTSDALE, Ariz. – May 17, 2022 – Progress Residential, the leading single-family rental management services platform, today announced that it has named Adolfo Villagomez as Chief Executive Officer, effective May 23, 2022.

Mr. Villagomez brings more than two decades of experience leading consumer-facing businesses and delivering profitable growth in digital and traditional domains. Most recently, Mr. Villagomez served as President of homedepot.com and Chief Marketing Officer for U.S. Retail at The Home Depot. During the pandemic, Mr. Villagomez’s customer-focused business strategy led to double-digit growth in sales and revenue for the home retailer. Prior to joining The Home Depot, Mr. Villagomez was a partner at McKinsey and Company, where he led its North America Marketing and Sales Practice.

“Pretium’s leadership position enables us to attract phenomenal talent like Adolfo,” said Don Mullen, CEO of Pretium and Founder of Progress Residential. “As Progress Residential enters its next phase of innovation, I am thrilled to welcome Adolfo as CEO.”

“Adolfo’s data-driven approach to business strategy, combined with his supply chain and product expertise, will accelerate Progress Residential’s leadership in smart home adoption, movement to net zero, and the overall digital transformation of real estate,” continued Mr. Mullen.

“Now, more than ever, companies have the opportunity to leverage technology in ways that significantly improve the customer experience while also driving growth,” said Mr. Villagomez. “Progress Residential is an unmatched pioneer in the single-family rental industry, and I look forward to joining this exceptionally talented team as we deliver technology-enabled, scalable solutions that make the rental experience for our residents even better.”

Mr. Villagomez began his career at DuPont, in its Teflon and Fluoroproducts businesses. He holds a master’s degree in Business Administration from the Yale School of Management, and a bachelor’s degree in Chemical Engineering from the Universidad Nacional Autónoma de México (National Autonomous University of Mexico).

About Progress Residential

Progress Residential, Pretium’s single-family rental platform, is a market leader in intelligent single-family rental management services, with people, technology, scale, and data-driven solutions that streamline operations, optimize asset performance, and provide an exceptional renting and living experience for our residents. Progress Residential’s approximately 2,500 employees currently manage more than 80,000 homes across 30 markets. Progress Residential also offers third-party property management service for investors with mid-to-large single-family rental home portfolios and Built for Rent communities through its Progress Residential Management Services. Progress Residential was founded by Don Mullen in 2012. For more information, please visit www.rentprogress.com.

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 secular 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 $40 billion of assets and employs approximately 4,000 people across 30 offices, including London and Dubai. Please visit www.pretium.com for additional information.

Media Contact:

Nikki Sloup
Vice President Communications and PR
press@progressresidential.com

Jon Keehner / Kate Thompson / Lyle Weston
Joele Frank, Wilkinson Brimmer Katcher
212-355-4449

 

June 2022

Pretium’s State of ESG Report

Read here to learn more.