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Progress Residential
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Management and rental of single-family homes
Progress Residential
Work Here?
Management and rental of single-family homes
Overview
Progress Residential buys, renovates, and manages single-family homes for rent across the United States. Its offer centers on high-quality, well-maintained homes for individuals and families who want more space and privacy than apartments, with flexible rental options and a focus on customer service. Practically, the company owns and renovates homes, then leases them to tenants and handles ongoing maintenance, repairs, and resident support through a dedicated team. This approach differentiates Progress Residential from competitors by combining large-scale property management with a strong emphasis on responsive, hands-on service and a hassle-free living experience. The company’s goal is to provide comfortable, spacious rental homes and reliable service to tenants, while growing its portfolio in the U.S. market.
About Progress Residential
Industries
Real Estate
Company Size
1,001-5,000
Company Stage
Debt Financing
Total Funding
$384.7M
Headquarters
Scottsdale, Arizona
Founded
2012
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Simplify's Take
What believers are saying
- Pretium Partners raised over $1 billion in new funding to expand Progress' single-family rental platform.
- The company secured $384.7 million refinancing from Goldman Sachs just before the federal acquisition ban enacted.
- Progress launched its 36th private-label securitization deal, securing a $426.8 million fixed-rate loan backed by 1,434 homes.
What critics are saying
- The 21st Century ROAD to Housing Act prohibits Progress from purchasing any existing single-family homes due to its 85,000-home portfolio.
- Heavy concentration in Florida's Broward County exposes the portfolio to disproportionate regulatory fallout and asset valuation compression.
- Competitive advantage shifts to smaller landlords under 350 homes who gain exclusive access to existing SFR inventory immediately.
What makes Progress Residential unique
- Progress is the largest U.S. single-family rental owner with over 85,000 homes, surpassing Invitation Homes.
- The company leverages proprietary data and technology to manage tens of thousands of unique homes at scale.
- It offers pet-friendly policies accommodating all dog breeds and multiple pets, unlike many competitor restrictions.
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Funding
Total Funding
$384.7M
Above
Industry Average
Funded Over
1 Rounds
Benefits
Health Insurance
Dental Insurance
Vision Insurance
Parental Leave
401(k) Retirement Plan
401(k) Company Match
Paid Vacation
Paid Holidays
Professional Development Budget
Training Programs
Company News
Progress Residential secured $384.7 million in refinancing from Goldman Sachs Mortgage Company for a multi-state single-family rental portfolio. The deal, closed on 25 June at an 83% loan-to-value ratio, covers properties valued at $462.1 million. The portfolio includes 64 homes across 14 Broward County cities in Florida, valued at $71.7 million, or over $1.1 million per property. Progress Residential is a subsidiary of New York private equity firm Pretium Partners. The refinancing closed two weeks before the 21st Century ROAD to Housing Act became law on 11 July. The legislation limits large investors owning at least 350 single-family homes from purchasing additional existing properties, though it permits portfolio refinancing.
Burleigh joins AXS from the property management company Progress Residential, where as Chief Digital and Product Officer, he oversaw the company's digital transition.
Progress Residential is Hiring for 35 Jobs on Simplify!
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About Progress Residential
Industries
Real Estate
Company Size
1,001-5,000
Company Stage
Debt Financing
Total Funding
$384.7M
Headquarters
Scottsdale, Arizona
Founded
2012
Progress Residential is Hiring for 35 Jobs on Simplify!
Find jobs on Simplify and start your career today