PRETIUM MEANS A DISCIPLINED SEARCH FOR VALUE

Investment Philosophy

Our objective is to differentiate ourselves from other investment firms by building integrated operating and analytics platforms capable of providing exposure to assets that are priced at a discount to their intrinsic value in real estate, loans and/or securitized debt.

Our Strategies

Pretium Partners was established in 2012 to capitalize on investment and financing opportunities that arose post-crisis as a result of structural changes within the economy, the U.S. housing sector, and mortgage finance markets.

Our strategy is to enter businesses and markets characterized by inefficiencies and where we believe we have a well-defined competitive edge driven by our team’s experience, our integrated operating platform, and the evolving nature of the markets in which we invest.

We currently employ several distinct strategies to capitalize on Pretium Partner’s analytic and operational platform and build upon our extensive residential real estate experience. One of our strategies focuses on investment in and management of single-family residential rental real estate, while other strategies focus on the purchase of under-performing residential whole loans and the execution of various loss mitigation strategies in order to enhance their value.

Pretium Strategy I – Real Estate Opportunities

AUM: $3.70 billion*

 

Pretium’s first real estate fund is one of the largest owners of high quality single-family rental homes in the U.S. with over 18,000 homes owned and awarded across 26 markets as of June 30, 2016. As the manager of these assets, we are committed, long-term, to our residents and communities. By carefully selecting well-maintained homes to rent, we create value for our residents and deliver attractive, risk-adjusted returns for our investors. Our experienced analytics and investment teams pursue the careful acquisition of quality homes at attractive valuations. Our construction and property management teams have formed strong partnerships to maintain comfortable homes that attract families seeking pleasant single-family home living in quality neighborhoods with excellent school districts located in high-growth markets.

GROWTH OF STRATEGY I RESIDENTIAL PORTFOLIO

June 30 2013
3743
Dec 31 2013
6672
June 30 2014
9483
Dec 31 2014
12304
Jun 30 2015
14584
Dec 31 2015
16569
Jun 30 2016
17937

*Data provided is as of June 2016.

STRATEGY I MARKETS AND STATES

*Data provided is as of June 2016.

STRATEGY I OCCUPANCY RATES

All Homes Owned - Occupancy Rates

Dec 31 2013
55%
June 30 2014
80%
Dec 31 2014
82%
Jun 30 2015
87%
Dec 31 2015
89%
Jun 30 2016
90%

*Data provided is as of June 2016.

Homes 90+ Days Rent Ready - Occupancy Rates

Dec 31 2013
87%
June 30 2014
96%
Dec 31 2014
96%
Jun 30 2015
95%
Dec 31 2015
94%
Jun 30 2016
96%

*Data provided is as of June 2016.

Pretium Strategy II – Non-Performing Mortgage Loan Opportunities

AUM: $2.78 billion*

 

Pretium Partners believes an opportunity exists in residential non-performing whole loans (NPLs). A robust supply of NPL sales has created an opportunity to acquire residential housing assets at a substantial discount to current market value and benefit from improving U.S. housing and mortgage markets.