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

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

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

Pretium Acquires Anchor Loans to Deliver Enhanced Capital Solutions for Homebuyers

PRESS RELEASE

Pretium Acquires Anchor Loans to Deliver Enhanced Capital Solutions for Homebuyers

November 2, 2021

Furthers Pretium's Mission to Provide Solutions for U.S. Housing Market Through Diversified Platform.

Meets Growing Residential Real Estate Needs by Providing Loans to Upgrade Aging Homes.

Positions Anchor to Drive Innovation and Enhance Service Capabilities

NEW YORKNov. 2, 2021 /PRNewswire/ — Pretium, a specialized investment management firm with approximately $30 billion in assets, today announced that it has acquired Anchor Loans LP, the nation’s leading provider of financing to residential real estate investors and entrepreneurs, from affiliates of Wafra Capital Partners Inc. and other owners. Terms of the transaction were not disclosed.

Founded in 1998, Anchor Loans was the first institutional lending platform built to serve the diverse financing needs of professional residential real-estate investors. Over the last two decades, Anchor Loans has grown to become the nation’s leading capital provider to experienced residential real-estate sponsors through its bridge and construction products. Anchor Loans serves a professional customer base where 95% of loans are made to established borrowers who have completed more than 40 projects. To date, Anchor Loans has originated more than $10 billion in loans – more than any other lender of its type.

“As we continue to experience a dynamic housing market defined by a growing shortage of total housing supply and an insufficient stock of move-in ready homes, we are seeing a significant increase in the investments required to upgrade today’s aging homes and modernize our infrastructure,” said Don Mullen, CEO and Founder of Pretium. “Pretium was formed with the goal to solve the shortage of housing in the U.S. and, today, is contributing to our local communities by creating attractive rental homes, offering capital solutions to homebuyers, and now providing loans for residential real-estate investors and entrepreneurs. Andrew Pollock and the Anchor Loans team are leaders in this industry, and we look forward to partnering with them to continue providing private capital solutions to the U.S. housing market.”

“This transaction is a unique opportunity to partner with an organization that shares our passion about the importance of supporting our communities with great homes and investments,” said Andrew Pollock, Chief Executive Officer at Anchor Loans. “With Pretium’s resources, operational expertise, and complementary businesses, we see immediate opportunities for cross collaboration that will naturally accelerate our growth and strengthen the services we provide to our clients. At the same time, we remain well positioned to drive innovation in our lending programs and position our pioneering business for continued long-term success.”

Following the close of the transaction, Anchor Loans will continue to be led by Chief Executive Officer Andrew Pollock and the current management team and retain its headquarters in Thousand Oaks, California.

American Equity Investment Life Insurance Company provided financing for the acquisition as part of an expansion of its strategic partnership with Pretium. In addition, American Equity acquired approximately $1 billion of loans originated by Anchor Loans concurrent with closing. 

Nomura Securities International, Inc. acted as financial advisor and Sidley Austin LLP acted as legal advisor to Pretium. Piper Sandler & Co. acted as financial advisor and O’Melveny & Myers acted as legal advisor to Anchor Loans.

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.

About Anchor Loans

Anchor Loans is the nation’s leading lender to residential real estate investors and entrepreneurs, with a total funding of more than $10 billion since 1998. With advanced, intuitive and innovative technology, Anchor provides fast, reliable funding and an exceptional customer experience—forging long-term client relationships and helping customers achieve and exceed their business goals. More than 85% of Anchor’s borrowers are repeat customers, over 70% of the Company’s new borrowers were referred by an existing customer, and approximately 95% of loans go to established borrowers who have completed more than 40 projects. Ranked for two consecutive years on the Inc. 5000 list of the fastest-growing privately held small companies in the U.S. https://www.anchorloans.com.

Contacts

Pretium

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

Anchor Loans

Bill Campbell
Campbell Lewis Communications
212-995-8057
bill@campbelllewis.com

Pretium Announces Closing of Reset Crown Point CLO 8, Ltd.

PRESS RELEASE

Pretium Announces Closing of Reset Crown Point CLO 8, Ltd.

October 25, 2021

New York, October 25, 2021 – Pretium, a specialized investment management firm with $30 billion in assets, today announced the closing of a reset of $454.6 million collateralized loan obligation (“CLO”), Crown Point CLO 8, with Pretium Credit CLO Management, LLC acting as manager. 

Jerry Ouderkirk, Head of Structured Credit at Pretium, said “Pretium welcomes the investor support that enabled a successful reset of Crown Point CLO 8 and is excited to continue the strong momentum across our CLO Management Platform and broader credit business as we head into 2022.” 

Pretium’s corporate and structured credit platform specializes in sourcing, structuring and managing corporate risk in single name and structured format. Currently, the firm manages cash-flow collateralized loan obligations backed by broadly, syndicated leveraged loans, engages in distressed, opportunistic and structured product investing through private funds and serves as sub-advisor to a mutual fund focused on leveraged bank loan investing. 

As of June 30, 2021, Pretium’s corporate and structured credit team managed $2.7 billion in assets.

About Pretium

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 1, 2021 and employs approximately 2,500 people across 29 offices. Please visit www.pretium.com for additional information.

Media Contacts

Prosek Partners
Josh Clarkson / William Szczecinski
646-818-9259 / 912-344-7423
jclarkson@prosek.com / wszczecinski@prosek.com 

 

June 2022

Pretium’s State of ESG Report

Read here to learn more.