Business
National Property REIT Corp., a Prospect Capital Corporation Portfolio Company, Exits Crown Point Property with a 19.1% IRR and 2.6x Cash-on-Cash Multiple
NEW YORK, Oct. 29, 2025 (GLOBE NEWSWIRE) -- National Property REIT Corp. (“NPRC”), a wholly owned portfolio company of Prospect Capital Corporation (NASDAQ: PSEC), today announced the sale of Crown Point Apartments (“Crown Point”), a multifamily property in Danbury, Connecticut, for $151.75 million, achieving a 19.1% internal rate of return and a 2.6x cash-on-cash multiple on the investment. Since inception, NPRC cumulatively has invested in 110 real estate properties (with 55 properties exited
About this update from Prospect Capital Corporation
[{"type":"text","content":"NEW YORK, Oct. 29, 2025 (GLOBE NEWSWIRE) -- National Property REIT Corp. (“NPRC”), a wholly owned portfolio company of Prospect Capital Corporation (NASDAQ: PSEC), today announced the sale of Crown Point Apartments (“Crown Point”), a multifamily property in Danbury, Connecticut, for $151.75 million, achieving a 19.1% internal rate of return and a 2.6x cash-on-cash multiple on the investment.","length":394,"tagName":"p"},{"type":"text","content":"Since inception, NPRC cumulatively has invested in 110 real estate properties (with 55 properties exited to date), including 83 multifamily residential apartment properties (representing 32,073 multifamily units), 12 self-storage properties, 8 student housing properties, 4 senior living residential properties, and 3 single tenant net lease facilities, totaling 36 million rentable square feet.","length":395,"tagName":"p"},{"type":"text","content":"“This sale highlights our disciplined investment approach and focus on long-term value creation,” said Mack Levine, Vice President of National Property REIT Corp. “Crown Point has been a strong performer within our portfolio, and this exit allows Prospect Capital Corporation to redeploy capital into opportunities that further Prospect’s strategic objectives.”","length":361,"tagName":"p"},{"type":"text","content":"CBRE’s team, led by Jeffrey Dunne, Eric Apfel, Stuart Mackenzie and Travis Langer represented NPRC in the transaction.","length":118,"tagName":"p"},{"type":"text","content":"About National Property REIT Corp.","length":34,"tagName":"p"},{"type":"text","content":"National Property REIT Corp. (www.npreitcorp.com) is a private REIT that acquires real estate properties, with a particular focus on multifamily residential properties. NPRC may acquire real estate assets directly or through joint ventures alongside operating partners. NPRC’s current multifamily portfolio consists of 44 properties with a market value of $3.2 billion.","length":369,"tagName":"p"},{"type":"text","content":"NPRC is a wholly owned portfolio company of Prospect Capital Corporation (NASDAQ: PSEC), a publicly traded business development company with $6.8 billion of total assets as of June 30, 2025.","length":190,"tagName":"p"},{"type":"text","content":"Caution Concerning Forward-Looking Statements","length":45,"tagName":"p"},{"type":"text","content":"This press release...