Prospect Capital Sells Vista Palma Sola Property For $43 Mln - Quick Facts

(RTTNews) - Prospect Capital Corp. (PSEC) said that on December 30, 2015, its portfolio company American Property REIT Corp. sold its Vista Palma Sola property in Bradenton, Florida for $43 million and achieved a 35 percent cash realized internal rate of return and 2.1 times cash on cash return on this investment.

APRC's co-investing management team for this multi-family residential property is Providence Management Company, LLC.

Prospect structures its real estate property investments as investments of debt and equity using private real estate investment trusts or REITs. In the past three years, Prospect has in the aggregate invested $417.3 million in 18 separate transactions across 54 properties.