“Progress and Front Yard comply with the CDC eviction moratorium and have not evicted any individual who is covered by a valid CDC declaration,” a Pretium spokesperson said in a statement. “We work with our residents and seek to avoid eviction, but if a resident declines to pay rent and will not constructively engage to find a resolution, we reserve the right to proceed in accordance with applicable law.”
The Stakeholder Project data offers a narrow view of evictions. It doesn’t reflect the number of tenants actually removed, nor does it account for settlements landlords and renters reach that keep residents in their home. In addition, court records aren’t uniformly available across state and local jurisdictions, making it nearly impossible to compile national statistics.
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Single-Family Rental Rush Draws Pension Manager for Mounties Ottawa-based pension fund manager PSP Investments will launch a joint venture to invest $700 million in single-family rentals. Bloomberg | Jan 28, 2021
(Bloomberg) PSP Investments, which manages pensions for Canadian public servants including the Royal Canadian Mounted Police, is making a bet on single-family rentals.
The Ottawa-based pension fund has teamed up with investment firm Pretium to launch a joint venture that will initially invest $700 million into single-family rental properties across major markets in the southeastern and southwestern U.S., including Atlanta, Charlotte, Nashville, Phoenix and Raleigh.
Single-family rentals have become a hot commodity in recent months as the Covid-19 pandemic accelerates demographic shifts to the suburbs. With hotels, offices and shopping malls taking a hit from social distancing, institutional investors are betting on demand for homes from American renters.
Corporate America Not Likely To Unwind COVID-19 Debt Buildup Despite Credit Hits
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Six trends shaping the industries and sectors we cover in 2021
15 Jan, 2021 Author Saadoon MinhasJake Mooney
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After an uninspiring year for real estate investment trust stocks in 2020, analysts took divergent views on the outlook for the sector in the coming year.
Analysts at Mizuho Securities USA, Janney Montgomery Scott and Jefferies all noted in forecasts that generalist and retail investors turned cool on REITs in 2020, seeing more attractive growth in other industries. The teams differed in their views of 2021, though, based in part on their expectations for interest rate movement.
Pretium, an alternative investment management firm, and
funds managed by Ares Management, have closed on their $2.4 billion acquisition
of Front Yard Residential, making Pretium the second-largest owner and operator
of single-family rental properties in the U.S.
As a result, Pretium now has more than 55,000 SFRs. It will
manage the venture and partner with Ares to further expand Front Yard’s
portfolio of assets.
“There is significant opportunity in the SFR market and
a clear sense of urgency among institutional investors to deploy capital to
this asset class given record-high occupancy rates, stable cash-flow
characteristics, and potential for continued capital appreciation,” said