A $1 Billion Bet Americans Will Need More Single-Family Rentals
Photographer: Chris Rank/Bloomberg
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Former Goldman Sachs Group Inc. partner Donald Mullen has raised another $1 billion to invest in U.S. rental houses as his firm, Pretium Partners LLC, leases homes to tenants shut out of an inventory-starved sales market.
Pretium closed on its second single-family rental fund with more than $1 billion in equity commitments, demonstrating that investors see staying power in an asset class once viewed as a short-term trade on distressed homes.