Pretium Highlights Leading Environmental Initiatives Across Single Family Rental Portfolio

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Mar 10, 2022, 12:45 ET

NEW YORK, March 10, 2022 /PRNewswire/ -- Pretium, a specialized investment firm with $40 billion in assets, today published an Environmental Report on its Single Family Rental (SFR) portfolio, setting forth the firm's commitment to ESG in its business practices. The report can be viewed and downloaded on Pretium's website.

Pretium's Environmental, Social and Governance (ESG) strategy in SFR is centered on its residents and their communities. In portfolio construction and throughout its operations, Pretium strives to incorporate ESG best practices into all aspects of its business by:

Providing affordable, quality housing options for families;
Mitigating adverse impacts on the environment;
Contributing to the well-being of residents and their communities; and
Conducting business according to the highest ethical and legal standards.

"ESG is not just an ideal at Pretium. We are dedicated to being responsible stewards of our residents' homes and contributing positively to their communities," said Tatiana Gutierrez, Managing Director of Affordable Housing and Social Impact at Pretium. "We are committed to environmentally friendly practices in home renovations and operations with a focus on energy, water conservation and waste reduction. Our team renovated 14,000 homes in 2021 alone, investing nearly $500 million and prioritizing greening components. We are grateful to be able to contribute private capital to help provide affordable, quality homes for families and households across the United States."

"Upon completing our first ESG report and reflecting on the potential of our impact, we are excited to strive for ambitious ESG targets in the years ahead," said Josh Pristaw, Senior Managing Director and Co-Head of Real Estate at Pretium.

"As we continue to implement and pursue leading ESG targets, we plan to submit multiple funds to GRESB, the leading benchmark for ESG in the real estate community, to measure our progress towards our goals," said Dana Hamilton, Senior Managing Director and Co-Head of Real Estate at Pretium.

Highlights of Pretium's Environmental Report include:

Commitment to Quality Homes. Pretium spent nearly $500 million in 2021 on home renovations to create quality, accessible homes for families across the country. This includes renovating nearly 14,000 homes while spending approximately $34,000 per home. In addition to environmental components of renovations, Pretium also launched a smart home program to install technology to give residents the freedom to monitor their home from anywhere while also reducing heating and cooling energy costs. This program now constitutes 24,000 smart homes and continues to grow.
2021 Environmental Impact Investment. As part of the renovations in 2021, Pretium purchased approximately 35,000 certified energy efficient appliances and systems and spent $48 million on long life cycle products. These efforts are estimated to provide energy savings of 1 million kilowatt hours or the equivalent of the total annual energy use of almost 95 homes.
Long-Term Commitment to Investments in Energy Efficiency. Since 2017, Pretium has invested $450 million in reducing the environmental footprints of its homes, focused on energy conservation, waste reduction and water conservation.

About Pretium

Pretium is a specialized investment firm focused on U.S. residential real estate, residential credit, and corporate credit. Pretium was founded in 2012 to capitalize on secular investment and lending opportunities arising as a result of structural changes, disruptions, and inefficiencies within the economy. Pretium has built an integrated analytical and operational ecosystem within the U.S. housing, residential credit, and corporate credit markets, and believes that its insight and experience within these markets create a strategic advantage over other investment managers. Pretium's platform has approximately $40 billion of assets under management as of February 1, 2022 and employs more than 3,000 people across 30 offices, including London and Dubai. Please visit www.pretium.com for additional information.

Contacts

Jon Keehner / Lyle Weston / Erik Carlson
Joele Frank, Wilkinson Brimmer Katcher
212-355-4449
[email protected]

SOURCE Pretium