Pretium, Progress Residential Augment Leadership Team for Affordable Single-Family Rental Housing Strategy

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Nov 08, 2022, 16:30 ET

Former Goldman Sachs Urban Investment Group COO, Andrea Gift Allan, to Lead Pretium's Affordable Housing Investment Portfolio Strategy, Innovation, and Execution

NEW YORK, Nov. 8, 2022 /PRNewswire/ -- Pretium, a specialized investment firm with approximately $50 billion in assets under management, today announced, in a joint press release with Progress Residential, the next steps in its plans to increase access to affordable single family rental housing. Andrea Gift Allan has joined Pretium as Managing Director, Real Estate, to lead the firm's affordable housing investments across the United States. In this role, Ms. Allan will partner with internal and external stakeholders to develop and manage Pretium's affordable housing portfolio, in alignment with the firm's key business and social impact goals. This will include serving as a strategic advisor to Progress Residential's affordable housing team as they engage with residents, local housing authorities, and community partners to meet persistent and growing affordable housing demand in markets across the country.

Ms. Allan brings over 20 years of experience in asset and portfolio management, as well as expertise valuing and reporting on real estate investments and loans. She spent more than two decades at Goldman Sachs, where she most recently served as Managing Director and Chief Operating Officer of the Urban Investment Group within the Asset Management Division. In that role, she was responsible for developing and advancing the business' strategy to deliver community impact and drive strong risk-adjusted returns, while meeting evolving regulatory requirements. She also oversaw a broad real assets portfolio, which included mixed-use, affordable and market rate multifamily, commercial and community facility real estate assets.

"Increasing quality, affordable housing supply across our markets is a business imperative," said Don Mullen, Founder and CEO of Pretium. "Andrea's decade plus of affordable housing investment experience will be an invaluable addition to the Pretium and Progress teams as we work with residents, investors, policymakers, lenders, developers, business leaders, and community organizations to achieve our ambitious goals."

"Andrea has a successful track record of building business infrastructure across asset classes to drive both revenue and community impact, and we are excited to welcome a leader of her caliber to our team," added Josh Pristaw, Co-Head of Real Estate at Pretium. "The residential housing landscape continues to grow and transform, and we look forward to benefiting from Andrea's fresh perspectives and insights as we lead the way."

"As affordability continues to play an integral role in today's housing market, this is an opportune time to join Pretium, a market leader committed to developing solutions to our nation's housing crisis," said Andrea Gift Allan. "I am energized to be joining a team focused on innovating in this critical area, and I look forward to building upon the work Pretium and Progress have already done to further expand our affordable housing offerings."

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 $50 billion of assets and employs more than 4,000 people across 30 offices, including Dubai, London, Seoul and Sydney. Please visit www.pretium.com for additional information.

Contacts

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

SOURCE Pretium