Zillow Selling More Homes to Pretium as Flipping Effort Ends
- Firms have pair of new deals for more than 1,200 properties
- Exit from iBuying unit comes in hot U.S. housing market
The Zillow website.
Photographer: Tiffany Hagler-Geard/BloombergThis article is for subscribers only.
Zillow Group Inc. is selling additional homes to Pretium Partners as it unwinds its tech-powered home-flipping operation, according to people familiar with the matter.
New York-based Pretium, the second largest single-family landlord in the U.S., recently acquired more than 800 properties from Zillow for nearly $300 million, one of the people said. The companies also have an agreement on 400 more homes that Pretium is buying for roughly $150 million.