Pretium to Acquire Multifamily Platform BH Management Services
Pretium, a NY-based real estate investment firm with more than $50 billion in assets under management, has acquired BH Management Services, a property management platform in multifamily, student, and single-family housing.
Founded by Harry Bookey in 1993, BH currently manages approximately 114,000 student and single-family homes across 370 housing communities in 31 states.
BH will become a Pretium operating business while continuing to operate as BH Management Services, which provides property management, construction, and investment services. The firm will stay in Des Moines, IA, and will be overseen by CEO Joanna Zabriskie and the present management team.
“BH’s multifamily property management platform prioritizes the resident and employee experiences and is critical to enhancing communities at a time when quality housing options are in short supply,” said Don Mullen, founder and CEO of Pretium.
The transaction is expected to close early in the second quarter.
Pretium has had a busy week. On Tuesday, it announced a partnership with Hunter Point Capital, an investment firm that offers solutions to alternative asset managers. The agreement, which includes a minority investment from HPC, aims to enhance Pretium’s residential real estate, corporate and structured credit strategies.
On Monday, to address the housing shortage, according to the firm, it announced the launch of a partnership program, “First Look Home,” designed to support the expansion of affordable home ownership in local communities.
