Back to News
Oct 29, 2025 8:00 AM

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 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.

"This sale highlights our disciplined investment approach and focus on ...