Nachrichten October 22, 2020

Bridge Financing for Acquisition of Front Yard Residential Corporation -- First-Ever Single-Family Rental Take-Private Transaction

Shearman & Sterling represented RBC Capital Markets in providing a bridge commitment to finance the $2.4 billion acquisition and privatization of Front Yard Residential Corporation by a venture formed by Pretium Partners and Ares Management Corporation. 

 Prior to this privatization, Pretium had developed an industry-leading platform managing residential homes and Front Yard Residential was a public REIT with a portfolio of more than 14,000 single family rental homes and an industry leader in providing quality, affordable rental homes to U.S. families.

The completion of the transaction in 2021 made Pretium the second-largest owner and operator of single-family rental properties in the United States with a portfolio of over 55,000 properties.

The Team


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