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Stock Market & Financial Investment News

News Breaks
December 13, 2013
07:05 EDTPSECProspect Capital invests $144.5M in multifamily residential properties
Prospect Capital announced that Prospect has recently invested $144.5M in four new transactions encompassing 19 rent-producing multifamily residential properties totaling 5,652 rental units and 5.66M rentable square feet. In combination with prior multifamily residential investments, Prospect has in the aggregate invested $288.3M in ten separate transactions encompassing 25 multifamily residential properties with 9,168 rental units and 9.11M rentable square feet. Prospect structures its multifamily investments as an investment of debt and equity into Prospect's controlled portfolio company APH Property Holdings, which owns a private real estate investment trust. This REIT works with multiple operating managers and co-investors to close and manage multifamily residential property acquisitions. Prospect may set up other REITs in the future to house its real-estate-related investments in a tax efficient manner. The four recently closed transactions include the acquisition of a single property, Bexley Apartment Homes, as well as the acquisition of three multifamily property portfolios called Oxford, Gulf Coast, and Stonemark.
News For PSEC From The Last 14 Days
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April 10, 2014
10:00 EDTPSECOn The Fly: Analyst Upgrade Summary
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06:39 EDTPSECProspect Capital upgraded to Buy from Neutral at Guggenheim
April 9, 2014
09:27 EDTPSECProspect Capital enters into 20M equity distribution agreement with Barclays
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April 7, 2014
16:09 EDTPSECProspect Capital files to sell $400M in convertible notes due 2020
Prospect intends to use the net proceeds from the sale of the Notes to paydown the outstanding balance on the credit facility, maintain balance sheet liquidity, including investments in high quality short-term debt instruments, and thereafter to make long-term investments in accordance with Prospect's investment objectives.

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