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

Crescent Communities and Pretium Announce New HARMON Build-to-Rent Community in Growing Gulf Coast Market

INSIGHTS

Crescent Communities and Pretium Announce New HARMON Build-to-Rent Community in Growing Gulf Coast Market

March 28, 2022

HARMON Legacy Trail in Metro Sarasota, FL Offers New Approach to Single-Family Living

CHARLOTTE, N.C. and NEW YORK, March 28, 2022 /PRNewswire/Crescent Communities and Pretium today announced the closing of land for the development of HARMON Legacy Trail, the third build-to-rent (BTR) community under development 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 Legacy Trail is expected to commence in July 2022 with first units slated to be delivered in Fall of 2023.

“We are thrilled to announce our third development in partnership with Pretium and our first build-to-rent community in the Florida region,” said Tony Chen, Managing Director of Single-Family Build-to-Rent at Crescent Communities. “HARMON Legacy Trail will provide residents the opportunity to live in new construction homes within a growing and vibrant community adjacent to the Legacy Trail connecting downtown Sarasota and Venice. This community highlights our commitment to growing strategically in Florida and the Sun Belt, and we look forward to sharing more updates on further growth very soon.”

HARMON Legacy Trail will be a 78-home BTR community in Nokomis, Florida. The community will offer residents the option to rent three- (1,600+ sq ft) and four- (1,900+ sq ft) bedroom townhomes with outdoor patios and private garages. Residents will have access to select interactive amenity spaces, such as dedicated outdoor lounge seating, play areas, dog park, and walking trails. Select homes will also have views from private balconies of the onsite lake. The community is located in an excellent school district, is adjacent to the Legacy Trail, a 20+ mile path connecting downtown Sarasota to downtown Venice, and is near Nokomis Beach and Oscar Sherer Park.

“We are proud to partner with the Crescent Communities team to unveil our third BTR community in one of the most desirable housing markets in the country,” said Matt Johnston, Managing Director and Head of Build-to-Rent at Pretium. “Our partnership is an example of how private capital can quickly and efficiently be invested to build high-quality housing for our communities. HARMON Legacy Trail represents an incredible opportunity to provide something we know our residents want – new, modern, and healthy homes. We are looking forward to the beginning of construction over the summer and building on our partnership with the Crescent Communities team.”

“HARMON Legacy Trail will be part of a larger master-planned community with additional residential offerings, including the forthcoming RENDER Legacy Trail, and more than six acres of future retail space,” said Tim Graff, Managing Director of Florida for Crescent Communities’ multifamily business. “We are excited to bring our top-of-the-line build-to-rent product to this area and look forward to commencing work.”

HARMON Legacy Trail will be located at Aqua Bella Drive, Nokomis, FL and will be built by Southern Impression Homes. Additional partners include civil engineer Kimley-Horn, landscape architect LandDesign, and architectural review by 505Design.

Additional details surrounding HARMON Legacy Trail 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 74 multifamily communities, 24 million square feet of commercial space and 60 single family master-planned communities. Crescent Communities has offices in Charlotte, DC, Atlanta, Orlando, Nashville, Dallas, Denver, Phoenix 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 approximately $40 billion of assets under management as of February 1, 2022 and employs more than 3,000 people across 30 offices, including London and Dubai. Please visit www.pretium.com for additional information.

Crescent Communities Media Contact
Lauren Ferguson
205-383-8450
lauren@sprouthouseagency.com

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

Esusu and Progress Residential Join Forces to Transform Single-Family Rental Housing

INSIGHTS

Esusu and Progress Residential Join Forces to Transform Single-Family Rental Housing

March 2022

HARLEM, N.Y. and SCOTTSDALE, Ariz., March 21, 2022 /PRNewswire/ — Esusu, the leading financial technology company advancing rent reporting and data solutions for credit building, and Progress Residential, the market leader in single-family rental management services, today announced a new partnership to make Esusu’s platform for financial health solutions available to Progress Residential’s more than 250,000 residents across approximately 80,000 homes nationwide.

Environmental Report

INSIGHTS

Environmental Report

March 2022

Executive Summary

Pretium and Progress Residential are committed to conducting business ethically and making investment decisions in a manner that is fiscally, socially, and environmentally responsible. The goal of both organizations is to provide residents with renovated, well-maintained, and affordable rental homes by making significant investments in residents, homes, and communities within the Pretium SFR Portfolio. This Environmental Report provides a high-level overview of Pretium’s and Progress Residential’s “Social” and “Governance” strategies but mainly focuses on our “Environmental” impacts. Additional details on Pretium Social and Governance strategies will be included as part of our upcoming State of ESG publication.

Pretium Expands Real Estate Team with Addition of Josh Pristaw as Senior Managing Director and Co-Head of Real Estate

PRESS RELEASE

Pretium Expands Real Estate Team with Addition of Josh Pristaw as Senior Managing Director and Co-Head of Real Estate

Brings Diverse Experience and Perspective to Leading Real Estate Investment Platform

February 24, 2022

NEW YORK, Feb. 24, 2022 /PRNewswire/ — Pretium, a specialized investment firm with $40 billion in assets, today announced that Josh Pristaw has joined the firm as Senior Managing Director and as Co-Head of Real Estate. Mr. Pristaw joins Dana Hamilton, Pretium’s Co-Head of Real Estate, responsible for Pretium’s real estate platform, including investing in and managing rental homes. As Co-Head of Real Estate, Mr. Pristaw will work alongside Ms. Hamilton to oversee Pretium’s market-leading Progress Residential platform, which services more than 250,000 residents across approximately 80,000 homes. Progress Residential is a market leader in 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 residents.

Mr. Pristaw brings to Pretium more than two decades of direct real estate experience across acquisitions, asset management, portfolio development, and capital markets. In 2005, Mr. Pristaw co-founded GTIS Partners, a real assets investment firm, where he worked for 17 years and most recently served as a Partner, Co-Head of GTIS Brazil, Head of Capital Markets, and a member of the firm’s Investment Committee. Previously, he was a Principal and Co-Head of Acquisitions for Coventry Real Estate Advisors and was also a member of Coventry’s Investment Committee.

“Josh brings extensive and complementary experience to Pretium’s single-family-rental business,” said Don Mullen, Founder and CEO of Pretium. “We are confident now is the opportune time for Josh to join our rapidly expanding team as we continue to deploy private capital to contribute to solving our nation’s housing shortage. His keen understanding of the real estate ecosystem will help us continue to elevate the standard for professional ownership and management of affordable, single-family homes, including best-in-class service and support for our residents.”

“Pretium is a distinguished leader in today’s rental housing market with an unmatched reputation and legacy in residential housing and communities,” said Mr. Pristaw. “I look forward to the opportunity to partner with Don, Dana, and the Pretium and Progress teams to prioritize our residents, support our incredible teams on the ground across the country, and deliver the best possible resident experience for those who choose to rent.”

Mr. Pristaw previously served as Chairman of the Board of Directors of Brazil Hospitality Group, one of the largest owners and managers of hotels in Brazil, and on the Board of Directors of GTIS Brazil Logistics FII, an externally-managed real estate vehicle listed on the Bovespa in Brazil. He received a Bachelor of Arts in Government from Dartmouth College.

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 approximately $40 billion of assets under management as of February 1, 2022 and employs approximately 3,000 people across 30 offices, including London and Dubai. Please visit www.pretium.com for additional information.

About Progress Residential

Progress Residential 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 approximately 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. For more information, please visit www.rentprogress.com.

Contacts

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

CLOs: Success Drives Growth

INSIGHTS

CLOs: Success Drives Growth

February 16, 2022

Executive Summary

The strong growth of the CLO market over the past decade owed its success to numerous factors — the durability of term leverage structures, the up-in-quality bias of CLO loan portfolios, the demand for high-rated fixed income securities, and the growth of private credit markets have all played major roles. And perhaps most importantly, during a period where yields on public fixed income securities have fallen to unviable levels for many investors, CLO equity has continued to generate high annual cash flow (Exhibit 1).

Pretium Appoints Jocelyn Moore to Lead Corporate Affairs

PRESS RELEASE

Joins as Senior Managing Director with Over Two Decades of Corporate Advisory, Strategic Communications, and Public Policy Experience

February 03, 2022

NEW YORK, Feb. 3, 2022 /PRNewswire/ — Pretium, a specialized investment firm with approximately $40 billion in assets, today announced the appointment of Jocelyn Moore as a Senior Managing Director to lead corporate affairs. Ms. Moore will be a member of the firm’s Executive Committee.

Pretium Appoints Jocelyn Moore to Lead Corporate Affairs

Ms. Moore brings over two decades of corporate advisory, strategic communications, and public policy experience across multiple disciplines. Most recently, she served as Senior Advisor to the New Markets Support Company, a subsidiary of the Local Initiatives Support Corporation, and as a Venture Partner at OzoneX, an early-stage venture capital firm that funds mission-driven startups led by women and underrepresented founders. Previously, Ms. Moore was Executive Vice President of Communications and Public Affairs at the National Football League. As the NFL’s Chief Communications Officer, she was a member of the executive leadership team and oversaw corporate affairs at the 100-year-old professional sports league, including football communications, strategic communications, corporate communications, public policy and government affairs, and corporate social responsibility. Prior to the NFL, Ms. Moore was a Managing Director at The Glover Park Group (now Finsbury Glover Hering) and spent 15 years working in senior leadership roles in the United States Senate.

“Throughout her career, Jocelyn has been a force for positive change, partnering with stakeholders on both sides of issues to solve the biggest challenges facing our society,” said Don Mullen, Founder and CEO of Pretium. “We believe private capital is part of the solution to our nation’s housing shortage and Pretium stands at the forefront of bringing quality, professionally managed homes to our communities. Jocelyn will be deeply involved in our efforts to lead from the front, setting the standard for the professional single-family rental industry and providing an important option for households that choose to rent.”

“Access to quality, affordable housing is a key pillar of economic opportunity and income equality,” said Ms. Moore. “I am excited to join Pretium during this incredibly dynamic time as we lead the effort to deploy private capital for public good. Together, we will work to help solve one of society’s greatest challenges and drive positive community impact for individuals and families.”

Ms. Moore currently serves as an independent director on the boards of two publicly-traded technology companies, DraftKings and OppFi. In October 2021, she was appointed by the Biden Administration to serve on the board of the First Responder Network (FirstNet) Authority for public safety. Ms. Moore holds a Bachelor of Arts in English and a Master of Education, both from the University of Florida.

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 approximately $40 billion of assets under management as of February 1, 2022 and employs approximately 3,000 people across 30 offices, including London and Dubai. Please visit www.pretium.com for additional information.

Contacts

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

Onyx+East and Pretium Form Joint Venture to Build New Single-Family Build-to-Rent Communities

PRESS RELEASE

Onyx+East and Pretium Form Joint Venture to Build New Single-Family Build-to-Rent Communities

January 20, 2022

Joint Venture Expected to Build Over 2,000 New Single-Family Homes

Indianapolis and New York – (January 20, 2022) – Onyx+East, an award-winning homebuilder headquartered in Indianapolis and known for its modern and functional home designs, and Pretium, a specialized investment management firm with approximately $30 billion in assets, including more than 70,000 single-family homes for rent, today announced the formation of a joint venture that will invest approximately $600 million to develop, build, and operate new single-family, build-to-rent communities across key Midwestern markets and Florida’s West Coast.

With plans to design and build over 2,000 new single-family rental homes in these regions, the joint venture will target development in growing suburban communities and coveted locations outside of major metropolitan areas, with access to main freeways, employment centers, desirable retail, and high-quality schools. In 2022, the partnership intends to develop six communities across key markets in Indiana, Ohio, and Florida, totaling more than 700 new homes.

Onyx+East, which is renowned for its fundamental commitment to modern and functional design, will bring its signature open-concept floor plans, high-quality construction, and smart home technology to each community. Onyx+East has been voted Best Home Builder by the Indianapolis Star for two consecutive years. Progress Residential, Pretium’s single-family rental platform and a leading manager of build-to-rent communities, will operate and manage the new single-family build-to-rent communities on behalf of the joint venture.

“Onyx+East is thrilled to partner with a best-in-class owner and operator in Pretium. This partnership will expand our product offerings and provide style- and design-oriented rental homes to meet the needs of residents,” said Kelli Lawrence, CEO of Onyx+East. “These build-to-rent homes will provide the same thoughtful design elements and community character that Onyx+East is known for in our for-sale product offerings in new suburban locations throughout our core markets.”

“We’re excited to form this partnership with Onyx+East to offer quality, professionally managed homes in popular neighborhoods to serve an ever-growing population of individuals and households that choose to rent,” said Matt Johnston, Managing Director and Head of Build-to-Rent at Pretium. “Onyx+East has a proven reputation of designing and building homes that appeal to today’s residents, and we look forward to working with the Onyx+East team to execute on our ambitious pipeline and address the under-supply of housing across the U.S.”

About Onyx+East
Onyx+East is a full-service homebuilder executing development, construction, marketing, design, and sales with four offices in the Midwest and Florida. Founded in 2015 to deliver homes in the most desirable locations with an exceptional customer experience, Onyx+East creates places designed for modern living that are connected within growing cities and suburbs. Through creativity, innovation, and sustainability, Onyx+East creates communities that are changing the way people live, work and “do life.” For more information, visit onyxandeast.com.

About Pretium
Pretium is a specialized alternative investment management 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 $30 billion of assets under management as of December 31, 2021 and employs approximately 3,000 people across 30 offices. Please visit www.pretium.com for additional information.

About Progress Residential
Progress Residential 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 1,500 employees currently manage over 70,000 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. For more information, please visit www.rentprogress.com.

Contacts

Onyx+East
Eva Gribler
317-409-6572
Media@onyxandeast.com

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

Pretium Appoints George Lane as Managing Director, Real Estate

PRESS RELEASE

Pretium Appoints George Lane as Managing Director, Real Estate

December 8, 2021

NEW YORK – December 8, 2021 – Pretium, a specialized investment management firm with approximately $30 billion in assets, today announced that George Lane has joined the firm as Managing Director and Portfolio Manager, on the Real Estate team. He is based in New York, where he will be focused on the performance and expansion of Pretium’s single-family rental (“SFR”) vehicles.

Mr. Lane joins Pretium after nearly ten years at Abu Dhabi Investment Authority (ADIA), most recently as Deputy Head of Americas, Real Estate. In that role, George was responsible for acquisitions and asset management across property types and geographies throughout the United States, and oversaw certain key operating partner and fund manager relationships.

“We are excited to welcome George, an experienced industry leader with a diversified background in real estate investment,” said Don Mullen, founder and CEO of Pretium. “As we continue to grow our platform and expand accessibility of quality, affordable housing to help solve for our nation’s housing shortage, we are focused on assembling the most sophisticated and experienced team possible to support our stakeholders.”

Mr. Lane said, “I look forward to working with the exceptional team at Pretium, leveraging my global institutional expertise to create value, identify new opportunities and support our diversified and growing investor base and clients around the world.”

Prior to ADIA, Mr. Lane served as Vice President in the global opportunity funds group at Deutsche Bank (RREEF). Mr. Lane began his career at Deloitte in the audit group before moving to the real estate consulting group. George holds a Bachelor of Arts degree in Sociology/Anthropology from Carleton College, a Master of Science in Accountancy from DePaul University, and a Master of Business Administration from the Kellogg School of Management at Northwestern University.

About Pretium

Pretium is a specialized alternative investment management 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 approximately $30 billion of assets under management as of October 31, 2021 and employs approximately 3,000 people across 30 offices. Please visit www.pretium.com for additional information.

Contacts

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

Crescent Communities and Pretium Announce Start of Construction for Build-to-Rent Community HARMON Ballantyne

PRESS RELEASE

Crescent Communities and Pretium Announce Start of Construction for Build-to-Rent Community HARMON Ballantyne

December 6, 2021

Furthers Commitment to Invest $1 Billion in Key Sunbelt Markets with Second Community Under Development by Joint Venture

First Charlotte Community HARMON Ballantyne to Offer Benefits of Single-Family Living; Available to Rent Summer 2023

CHARLOTTE, NC and NEW YORK – December 6, 2021Crescent Communities and Pretium today announced the start of construction of HARMON Ballantyne, the second build-to-rent (“BTR”) community under development 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.

HARMON Ballantyne will be a 60-home BTR community in Charlotte, North Carolina, located 13 miles south of the city’s central business district. The development of both HARMON Ballantyne and its sister community NOVEL Ballantyne, a 285-unit multifamily community, underscores the anticipated return of Crescent Communities to the Ballantyne area, which has experienced noticeable growth over the years and is known for its luxury real estate, shopping, dining, schools, and recreation opportunities. The community will offer residents the option to rent three-bedroom townhomes with two-car garages and will feature interactive amenity spaces – such as dedicated walking trails, pocket parks, and more – to encourage residents to fully immerse themselves into the neighborhood.

“We are thrilled to announce our second development in partnership with Pretium and our first build-to-rent community in the Charlotte market,” said Tony Chen, Managing Director of Single-Family Build-to-Rent at Crescent Communities. “HARMON Ballantyne will provide Charlotte residents the opportunity to lease brand new townhomes in a highly sought-after neighborhood without the long-term commitment and unexpected maintenance of homeownership. This transaction highlights the strategic advantage our platform has in sourcing investment opportunities in highly desirable locations with a mix of product types through the various platforms and brands that Crescent Communities offers. In addition, we can deliver high quality product through our partnership with the Sumitomo Forestry portfolio of homebuilders.”

“HARMON Ballantyne is the next step in our partnership with Crescent Communities to substantially invest in building quality, affordable homes for our communities while providing the flexibility and convenience of the home rental lifestyle,” said Matt Johnston, Managing Director, Head of Build-to-Rent at Pretium. “Ballantyne is one of Charlotte’s most sought-after neighborhoods, and we look forward to benefiting from the significant growth expected from commercial investments and developments currently under construction in the area. Residents are increasingly seeking the choice to rent or own high-quality, single-family homes across the city, and HARMON Ballantyne will deliver affordable access to a highly desirable submarket. The Pretium and Crescent Communities partnership is committed to addressing the supply shortage of quality, affordable housing in the U.S.”

HARMON Ballantyne will be located at 15825 Marvin Road and will be built by DRB Group, an affiliate homebuilder within the Sumitomo Forestry portfolio, which is also building the venture’s first BTR community, HARMON Foxbank. The joint venture purchased the land in November 2021 and the first units are expected to be available to rent in summer 2023.

Additional details surrounding HARMON Ballantyne will be announced at a later date. Renderings are 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 69 multifamily communities, 22 million square feet of commercial space and 60 single family master-planned communities. Crescent Communities has offices in Charlotte, DC, Atlanta, Orlando, Nashville, Dallas, Denver, Phoenix and Salt Lake City. Our residential communities are branded NOVEL, RENDER and HARMON by Crescent Communities.

About Pretium

Pretium is a specialized alternative investment management 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 approximately $30 billion of assets under management as of October 31, 2021 and employs approximately 3,000 people across 30 offices. Please visit www.pretium.com for additional information.

Contacts

Crescent Media

Lauren Ferguson
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
 

June 2022

Pretium’s State of ESG Report

Read here to learn more.