Pretium, Progress Residential to Obtain $519M CMBS Loan for SFR Collection; debt backs nearly 2,000 single-family rental homes

7/23/2025

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MHN

• Subcategory: Capital Markets: Debt, MF: BTR, MF: Market Rate

• Tag: Closing

• Additional Filters-Subcategory: Capital Markets: Debt-CMBS, Capital Markets: Debt-Refinance, MF: BTR-SFR

• Company: Pretium Partners, Wells Fargo (NYSE: WFC), Progress Residential

Pretium Partners’ Progress Residential is on track to receive a $519 million CMBS loan originated by Wells Fargo, according to a Fitch Ratings report. The five-year, fixed-rate, interest-only note backs a portfolio of 1,798 single-family rental homes across 12 states.

Pretium acquired the assets between 2019 and 2024, with 88.7 percent of the homes purchased between 2020 and 2022. Fitch estimates the portfolio—96.1 percent occupied as of April—to be valued at $588.7 million.

The homes average 1,776 square feet in size and have an average vintage of 21 years. The collection is scattered throughout 20 markets; however, more than half of the properties are within the metropolitan areas of Phoenix, Atlanta and Nashville, Tenn. Florida also encompasses a significant portion of the homes—14.1 percent.