Residential

Residential Real Estate Opportunities

We focus on adjacent strategies in residential real estate where our data analytics and operating platforms enable us to generate results.

  • $6.17Bassets under management
  • 27400homes
  • 15key markets
  • 96%occupancy rate

All numbers as of September 30, 2018

Case Study: Progress Homes

Where other investment firms saw only distressed real estate after the financial crisis, Pretium identified a consumer credit opportunity based on the changing home experience of the 21st century. The result is an established, expanding business with rising margins.

3 Things to Know About Single-Family Rentals

  • Not short-term. Demand in this market has remained consistent since the 1950s.
  • Residents are typically families with good incomes searching for quality homes in attractive communities.
  • Our data-based operating platform enables us to scale this asset class.

Pretium's Single-Family Rental Markets

2012-2017 Five-Year Compound Annual Growth Rate

Source: U.S. Census Bureau and U.S. Bureau of Labor Statistics, retrieved from Moody’s Analytics.

Growth of Residential Portfolio

June 2013 3800
Dec 2013 6700
June 2014 9500
Dec 2014 12400
June 2015 14600
Dec 2015 16600
June 2016 17900
Dec 2016 19900
June 2017 20800
Dec 2017 23300
June 2018 25100

Stabilized Occupancy Rates

Dec 2013 90.7%
June 2014 96.3%
Dec 2014 95.4%
June 2015 95.7%
Dec 2015 94.6%
June 2016 95.5%
Dec 2016 93.8%
June 2017 96.2%
Dec 2017 94.9%
June 2018 96.8%
  • 3.4Avg. # of Bedrooms
  • 1900Avg. Size (sq.ft.)
  • 16Avg. Age (years)
  • 6.3Avg. School Score
  • $1560Avg. Rent

All numbers as of September 30, 2018

Insights

2019 U.S. Housing Market Outlook

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Mortgage Credit Opportunities

We focus on strategies across the mortgage whole loan market where our integrated asset management platform enables us to provide differentiated solutions to borrowers.

  • ~28500loans acquired
  • $5.3Binitial unpaid principal balance acquired
  • 61.5%invested capital as a % of Initial property value
  • ~18200loans resolved or stabilized

All numbers as of September 30, 2018

3 Things to Know About the Mortgage Credit Market

  • The U.S. mortgage market represents an investment universe with $8.8 trillion in outstanding mortgages.
  • The market for impaired mortgage whole loans remains robust, even 10 years post-crisis.
  • Our loan servicing platform provides comprehensive end-to-end portfolio oversight and streamlines solutions for borrowers.

Differentiated Asset Management Platform

Our detailed knowledge of the borrower, combined with Pretium’s ability to manage the underlying property for rental purposes, increases the ability to drive positive loan outcomes.

Preferred Counterparty for Well-Known Industry Sellers

Our experience in consistently and efficiently executing transactions allows us to source customized loan portfolios consistent with segments of the market where we can outperform.