NEW YORK, Nov. 08, 2016 (GLOBE NEWSWIRE) -- Prospect Capital Corporation (NASDAQ:PSEC) ("Prospect") announced today that Prospect's portfolio company National Property REIT Corp. ("NPRC") recently sold its Abbington Pointe ("Abbington") property in Marietta, Georgia, for $37.0 million, thereby achieving a 24% realized internal rate of return and 2.1 times cash on cash return on this investment. NPRC acquired Abbington in December 2012 in a co-investment joint venture with Providence Management Company, LLC ("PMC"), the property management team for this multi-family residential property. Prospect invests in real estate property through investments of debt and equity in NPRC, a private real estate investment trust. Prospect in the past four years has in the aggregate invested $471.1 million in 22 separate real estate transactions across 62 properties, including 39 multifamily residential apartment properties (aggregating approximately 14,000 multifamily units), 12 self-storage properties, eight student housing properties, and three single tenant net lease facilities, totaling approximately 25 million rentable square feet. "The Abbington realization demonstrates the strong performance of NPRC's multi-family-focused real estate portfolio, which has delivered net operating income growth and increasing yields as well as capital gains," said Ted Fowler, Managing Director of Prospect Capital Management LP. "NPRC continues to benefit from demographic trends driving higher occupancies and rent growth in the apartment sector. We look forward to selectively monetizing other properties in NPRC's portfolio through supplemental financing dividend recapitalizations and sales." ABOUT PROSPECT CAPITAL CORPORATION Prospect Capital Corporation ( www.prospectstreet.com) is a business development company that focuses on lending to and investing in private businesses. Prospect's investment objective is to generate both current income and long-term capital appreciation through debt and equity investments. Prospect has elected to be treated as a business development company under the Investment Company Act of 1940 ("1940 Act"). Prospect is required to comply with a series of regulatory requirements under the 1940 Act as well as applicable NASDAQ, federal and state rules and regulations. Prospect has elected to be treated as a regulated investment company under the Internal Revenue Code of 1986. Failure to comply with any of the laws and regulations that apply to Prospect could have an adverse effect on Prospect and its shareholders.