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Front Yard Residential Corp., a provider of single-family rental housing, is being taken private by alternative investment management firm Pretium and a group of its investors and funds managed by the Real Estate Equity and Alternative Credit strategies of Ares Management Corp. The all cash transaction values Front Yard at $2.4 billion. 

When the deal closes, Pretium says it will be the second-largest owner and operator of SFR properties in the US with a portfolio of more than 55,000 rentals. It also notes that this is the industry’s first public-to-private transaction.

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Erika Morphy

Erika Morphy has been writing about commercial real estate at GlobeSt.com for more than ten years, covering the capital markets, the Mid-Atlantic region and national topics. She's a nerd so favorite examples of the former include accounting standards, Basel III and what Congress is brewing.

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