BTR Daily - November 19, 2025 - Pretium Partners secures $810.8M ABS loan

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NEWS ROUNDUP

FINANCING: Pretium Partners secures $810.8 million ABS loan. Pretium Partners is set to obtain an $810.8 million ABS note backed by 2,231 single-family rental homes across 26 communities in 11 states. Goldman Sachs will originate the five-year, fixed-rate, interest-only loan, which distributes to roughly $363,432 per home. The $814.9 million appraised portfolio is concentrated in Colorado Springs (10.7%), Phoenix (8.1%) and Asheville (7.9%). Florida holds the largest state exposure at 31.2%, followed by South Carolina (12.1%) and North Carolina (11.2%).

DEVELOPMENT: KTGY and Empire Homes complete Texas BTR. KTGY and Empire Homes have completed Veranda Dellbrook, a new single-family BTR community within the Dellrose master plan in Hockley, Texas. The community features a repeatable 634-SF one-bed/one-bath floor plan module designed for efficient construction while preserving privacy and outdoor space. “We aimed to deliver long-term value without compromising the resident experience,” said Alan Scales, principal and KTGY board member. Scales noted that the design prioritizes livability, privacy and flexibility.

EXPANSION: Morgan selected to manage 3,250+ BTR residences for Howard Hughes Communities. Morgan has been chosen by Howard Hughes Communities to manage more than 3,250 residences across 11 BTR communities in The Woodlands and Bridgeland. Morgan will oversee leasing, resident services and onsite operations across all communities. With this assignment and recent growth in Florida, the company has expanded its management portfolio from 18,000 to 23,000 units over the past year, making it the fourth-largest property manager in Houston.

FUNDRAISING: Arrived raises $27 million. Arrived has secured $27 million from major backers including Bezos Expeditions, Core, Forerunner Ventures, and the CEOs of Salesforce, Uber, and Match Group. The company has now raised $60 million in total, following a $25 million Series A in 2022. Arrived enables investors to buy shares of single-family and vacation rentals, earning quarterly dividends from rent and appreciation upon sale.

READ: Midwest strength offsets Sun Belt strain in BTR market.

BTR FOR SALE

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65 Units | Construction to Begin in August 2025 | 2-Car Garages | 3- and 4-Bedroom Luxury Homes

223 Units | Class A | Forward Sale Opportunity | Scheduled for Delivery in 2026

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