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MortgagePoint ยป Your Trusted Source for Mortgage Banking and Servicing News 30 June 2024 I N D U S T R Y U P D A T E PRETIUM COMPLETES ACQUISITION OF BH MANAGEMENT SERVICES P retium, an investment firm with over $50 billion in assets under management, has announced that it has completed its acquisition of BH Management Services (BH), one of the nation's biggest property manage- ment platforms in multifamily, student, and single-family housing. The addition of BH to Pretium creates one of the most robust residential ecosystems in the United States, with more than 7,200 employees, over 210,000 homes managed, and approximately 700,000 residents and homeowners served annually. Pretium's portfolio now includes investments spanning single-family, multifamily, student, affordable, and build-to-rent housing communities. "The addition of BH enhances Pre- tium's residential ecosystem, enabling us to deploy capital across all major residen- tial asset classes in both debt and equity," said Jonathan Pruzan, President of Pretium. "This transaction creates addi- tional opportunities for our investors and will drive more investment in residential real estate, contributing to a healthier housing economy and increased housing options for families across the country." "Combining BH's multifamily port- folio with Pretium's residential platform will help us execute on our shared vision to build better communities," said Joanna Zabriskie, CEO of BH. "As an operating company of Pretium, the BH team is positioned to sustain and grow our leadership in multifamily and deliver on our important mission of creating spaces where people live and thrive." As a Pretium operating company, BH will continue to be led by CEO Joanna Zabriskie and the current management team, with its headquarters remaining in Des Moines, Iowa. HOMES FOR HEROES FOUNDATION COMMITS $150,000 PLEDGE TOWARDS NATIONAL CENTER FOR HEALTHY VETERANS T he Homes for Heroes Founda- tion, dedicated to supporting Veterans and their families, has pledged $150,000 over three years to aid the expansion of the National Center for Healthy Veterans. The Homes for Heroes Foundation's contribution will support the construc- tion of 25 tiny homes and a community center as part of the "Village II" project, fostering rehabilitation and renewal for at-risk veterans. The National Center for Healthy Veterans offers transformative programs at Valor Farm in Altavista, Virginia. This pledge reflects the Foundation's commit- ment to empowering Veterans through immersive, rural rehabilitation. The Foundation's grant will be pre- sented to the National Center for Healthy Veterans at Valor Farms in Altavista, Vir- ginia. The presentation will be made by Homes for Heroes Foundation Director Jay Flynn, local Homes for Heroes Real Estate Specialist Angie Holt, and Homes for Heroes Mortgage Specialist Melanie Thompson. "We are honored to support the National Center for Healthy Veterans in their mission of returning Healthy Veter- ans to America," said Jay Flynn, Director of the Homes for Heroes Foundation. "Through this pledge, we aim to provide essential resources allowing our Veterans to have the opportunity to thrive." The $150,000 pledge will be dis- bursed in three annual installments from 2024 through 2026, ensuring sustained support for critical programs. ARRIVE HOME LAUNCHES EARNED EQUITY PROGRAM N ational affordable housing provider Arrive Home has announced the launch of its Earned Equity Program. As part of Arrive Home's continued mission to expand access to homeownership for under- served borrowers, the new Earned Equity Program helps more consumers achieve their homeownership goals through a long-term purchase contract. Designed to assist consumers who do not qualify for a traditional mortgage, the Earned Equity Program enables program participants to enter a long-term pur- chase contract with monthly payments