NEW YORK, NY--(Marketwired - Jan 13, 2016) - Prospect Capital Corporation (
Prospect structures its real estate property investments as investments of debt and equity using private real estate investment trusts ("REITs"). Prospect in the past three years has in the aggregate invested $417.3 million in 18 separate transactions across 54 properties that include 39 multifamily residential apartment properties (aggregating approximately 14,000 multifamily units), 12 self-storage properties, and three single tenant net lease facilities, totaling approximately 14.8 million rentable square feet.
"The Vista realization adds to the strong performance of our multi-family-focused real estate portfolio, which has delivered continued net operating income growth for solid yields as well as capital gains appreciation potential," said Ted Fowler, Managing Director of Prospect Capital Management LP. "We continue to benefit from strong demographic trends driving high occupancies and rent growth in the apartment sector. We look forward to selectively exiting other properties in our portfolio at the appropriate time, enhanced by the robust availability of primary and supplemental financing for these assets."
ABOUT PROSPECT CAPITAL CORPORATION
Prospect Capital Corporation ( www.prospectstreet.com ) is a business development company that focuses on lending to and investing in private businesses. Prospect's investment objective is to generate both current income and long-term capital appreciation through debt and equity investments.
Prospect has elected to be treated as a business development company under the Investment Company Act of 1940 ("1940 Act"). Prospect is required to comply with a series of regulatory requirements under the 1940 Act as well as applicable NASDAQ, federal and state rules and regulations. Prospect has elected to be treated as a regulated investment company under the Internal Revenue Code of 1986. Failure to comply with any of the laws and regulations that apply to Prospect could have an adverse effect on Prospect and its shareholders.
This press release contains forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995, whose safe harbor for forward-looking statements does not apply to business development companies. Any such statements, other than statements of historical fact, are highly likely to be affected by other unknowable future events and conditions, including elements of the future that are or are not under Prospect's control, and that Prospect may or may not have considered; accordingly, such statements cannot be guarantees or assurances of any aspect of future performance. Actual developments and results are highly likely to vary materially from any forward-looking statements. Such statements speak only as of the time when made, and Prospect undertakes no obligation to update any such statement now or in the future.
