Single-Family Rentals at Pretium

Don Mullen


Real Assets

Real Estate

Sponsored Insight


Episode: 324
June 29, 2023

Episode Description:

This Sponsored Insight features Don Mullen. Don is the Founder & CEO of Pretium Partners, a $51 billion specialized investment firm he started in 2012 to focus on the U.S. housing, residential, and corporate credit markets. In a little over a decade, Pretium has rapidly grown to become one of the largest owners of single-family rentals in the country. Prior to founding Pretium, Don spent thirty years on Wall Street, including long stints at First Boston, Bear Stearns, and Goldman Sachs and shorter ones at Salomon Brothers and Drexel Burnham Lambert.

Our conversation covers Don’s history on Wall Street, identification of the opportunity in single family rentals, and path to founding of Pretium to capitalize. We discuss the single-family rental market, sourcing and servicing properties, scaling through technology, critiques of single-family rental investments, growing into adjacencies, and aspirations for Pretium in the decade to come.
For full show notes, visit the episode webpage here.

Show Notes:
03:01 30 years on Wall Street
16:25 Opportunity in the single family rental market
19:30 Founding Pretium
32:04 Sourcing
40:23 Servicing properties
42:27 Exit strategies
43:49 Critiques of single-family rental investments
48:38 Growing into adjacencies
57:37 Aspirations for Pretium
59:25 Closing questions

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