LAS VEGAS, NV – A large hedge fund based out of New York is the single-largest owner of homes in Clark County at nearly 3,200 units, according to the county’s property records.
Pretium Partners, a hedge fund that manages over $55 billion in assets, is the owner of Progress Residential, a home rental property management company that – as of the end of February, 2025 – owns 3,190 homes in the county, as per officially-confirmed data.
But that number could, in fact, potentially be higher, as typically real estate investors make it difficult to track their dealings by buying properties under the guise of various limited liability companies (LLCs), often with different-yet-similar names. For example, according to Clark County records, at least five of LLCs that have purchased property contain the word “Progress” in their name.
When contacted by local media about the true scope of their stake in Clark County, representatives for Pretium refrained from giving an exact number of the homes it owns, but claimed that it is fewer than 4,500.
U.S. Rep. Steven Horsford (D-NEV) said that corporate and Wall Street-backed investors have snatched up thousands of homes in both Southern Nevada and throughout the nation – mainly targeting starter homes and low-income communities – thereby reducing overall affordable stock and making the dream of homeownership harder for average people to obtain.
Studies indicate that, by the end of 2023, approximately 15 percent of Clark County’s housing stock – and nearly 25 percent in North Las Vegas – was owned by investors.
These predatory practices led by these Wall Street-backed hedge funds are acquiring more properties, pricing out Nevadans and their ability to own their own home,” Horsford said.
Shelter Realty Property Management specializes in the areas of Henderson, Las Vegas and North Las Vegas, NV. Feel free to give us a call at 702.376.7379 so we can answer any questions you may have.
Christopher Boyle is an expert investigative journalist for SEARCHEN NETWORKS® and reports for independent news and media organizations in the United States. Christopher keeps a keen-eye on what’s happening in the Vegas real estate market on behalf of Shelter Realty Property Management