Acquisition and Offering - NEWSTAR Exchange acquired Hadley Crossing, a single-family rental subdivision in Charlotte, North Carolina, developed by Stella Homes [1] - The property features 44 detached homes with 4 bedrooms, two-car attached garages, and high-end finishes such as Hardiplank facades, Quartz countertops, and stainless steel appliances [2] - NEWSTAR Exchange launched a new Delaware Statutory Trust (DST) offering for accredited investors seeking to complete like-kind exchanges under IRC Section 1031 [1] Financial and Market Performance - Hadley Crossing reached stabilization within less than 8 months, achieving the 3 highest build-to-rent rental rates in the Charlotte market [3] - The average household income in the area exceeds $200,000 [3] - The DST offering seeks to raise approximately $14 million in equity from accredited investors and is financed with a first mortgage through Fannie Mae, offering 43% leverage to investors [3] Company Background - NEWSTAR Exchange is a subsidiary of NEWSTAR, investing in and managing Class A single-family built-to-rent residential communities in the US Sun Belt [4] - The company sponsors Delaware Statutory Trusts and brings high-quality assets to market through a rigorous due diligence process [4] - NEWSTAR Exchange has successfully closed out three DST programs, raising more than $50 million in equity in partnership with Preferred Capital Securities [3] Partnership and Distribution - Preferred Capital Securities (PCS) is the managing broker-dealer for NEWSTAR Exchange’s DST offering [3] - PCS has a track record of raising over $5 billion in retail capital across 16 offerings and issuing approximately $1 billion in liquidity for investors since its inception in 2011 [5] - The offering is distributed by PCS in accordance with Rule 506(c) of Regulation D of the Securities Act [3]

Group 1 - The core concern for Prospect Capital Corporation (NASDAQ: PSEC) remains the declining net asset value (NAV) per share, which has continued to drop over the past 18 months [1] - The company has substantial exposure to a few large investments, which poses concentration risks [1]

NEW YORK, Nov. 21, 2024 (GLOBE NEWSWIRE) -- National Property REIT Corp. (“NPRC”) announced today it recently sold its Dylan at Grayson (“Dylan”) multifamily residential property in Grayson, Georgia, for $56.7 million, achieving a 1.7 times cash on cash return on the investment acquired in December 2020. Since inception, NPRC has invested in 110 real estate properties, including 83 multifamily residential apartment properties (representing 32,073 multifamily units), 12 self-storage properties, 8 student hou ...

UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 FORM 10-Q Title of each class Trading symbols Name of each exchange on which registered Common Stock, $0.001 par value PSEC NASDAQ Global Select Market 5.35% Series A Fixed Rate Cumulative Perpetual Preferred Stock, par value $0.001PSEC PRA New York Stock Exchange ☒ QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the quarterly period ended September 30, 2024 OR ☐ TRANSITION REPORT PURSUANT TO ...

NEW YORK, Nov. 08, 2024 (GLOBE NEWSWIRE) -- Prospect Capital Corporation (NASDAQ: PSEC) (“Prospect”, “our”, or “we”) today announced financial results for our fiscal quarter ended September 30, 2024. "We are rightsizing our common shareholder distribution rate as we continue to execute our long-term income and total return strategy by rotating structured credit CLO equity and real estate investments into our core business of first lien senior secured middle market loans, including sometimes with selected eq ...

NEW YORK, Nov. 07, 2024 (GLOBE NEWSWIRE) -- Prospect Capital Corporation (NASDAQ: PSEC) (the “Company” or “Prospect”) today announced it expects to file with the Securities and Exchange Commission its report on Form 10-Q containing results for the fiscal quarter ended September 30, 2024 on Friday, November 8, 2024. The Company also expects to issue its earnings press release on Friday, November 8, 2024, before the opening of the markets. The Company will host a conference call on Friday, November 8, 2024 at ...

Prospect Capital (NASDAQ: PSEC ) operates as a business development company that generates its earnings through a portfolio of various debt investments. What makes PSEC unique is their majority focus on real estate related companies, which gives off a bitFinancial analyst by day and a seasoned investor by passion, I've been involved in the world of investing for over 10 years and honed my skills in analyzing lucrative opportunities within the market.I specialize in uncovering strategies to utilize various i ...

NEW YORK, Oct. 15, 2024 (GLOBE NEWSWIRE) -- Prospect Capital Corporation (NASDAQ: PSEC) ("Prospect") closed $764 million of new investments during its fiscal year ended June 30, 2024, investing in 38 new and existing portfolio companies. 91% of PSEC's originations during fiscal year 2024 were first lien, senior secured loans. Selected investments in both new and existing portfolio companies during fiscal year 2024 include: $56 million of first lien loans to refinance the debt of a provider of clinical trial ...

NEW YORK, Oct. 07, 2024 (GLOBE NEWSWIRE) -- Prospect Capital Corporation (NASDAQ: PSEC) ("Prospect") extended and increased total commitments for its revolving credit facility (the "Facility") for Prospect Capital Funding LLC, a GAAP consolidated subsidiary of Prospect, with the most recent upsize in the quarter ended September 30, 2024. Facility commitments currently aggregate $2.1215 billion from a group of 48 banks (with a combined asset base of over $7.5 trillion), which Prospect considers the largest n ...

Core Insights - Prospect Capital Corporation has surpassed its 20th anniversary and is recognized as one of the largest publicly traded business development companies (BDCs) with total assets of $7.9 billion as of the end of the recent fiscal year [1] - The company has invested over $20 billion and has achieved more than 300 portfolio company exits throughout its history [1] Company Background - Founded in 2004, Prospect is one of the few BDCs established before the Global Financial Crisis, distinguishing it from many other BDCs with shorter histories [2] - Prospect is managed by Prospect Capital Management, which has over 120 employees and a nearly 37-year history of managing risk and investor capital through three major business cycles [3] Industry Innovations - Prospect has been an innovator in the BDC industry, achieving several firsts, including: - First BDC to receive an investment grade rating post the Global Financial Crisis, starting with S&P in November 2009 and currently holding five such ratings [3] - First BDC to acquire another BDC (Patriot Capital in December 2009) [3] - First BDC to complete at-the-market issuance programs for common stock (beginning March 2010) and listed senior unsecured notes (beginning July 2018) [3] - First BDC to issue a convertible bond (December 2010) and medium-term program notes (February 2012) [3] - First BDC to issue senior unsecured institutional notes post the Global Financial Crisis (March 2013) [3] - First BDC to issue non-traded perpetual preferred stock to unaffiliated investors (October 2020) and traded perpetual preferred stock (July 2021) [3] Investment Focus - Prospect is a business development company that focuses on lending to and investing in private businesses, aiming to generate both current income and long-term capital appreciation through debt and equity investments [5]