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PCRED – A PROSPECT CAPITAL FUND

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Overview
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Contact Us
Investor Login

Portfolio Highlights

Prospect Credit REIT — preferred equity investments in Class A multifamily properties

Location:

Scottsdale, AZ

Vintage:

2021

Investment Amount:

$12M

Structure:

Preferred Equity

Use of proceeds:

Refinance

Term:

5 years

Location:

Brooklyn, NY

Vintage:

2018

Investment Amount:

$10.9M

Structure:

Preferred Equity

Use of proceeds:

Refinance

Term:

5 years

Location:

New Rochelle, NY

Vintage:

2007

Investment Amount:

$18M

Structure:

Preferred Equity

Use of proceeds:

Refinance

Term:

5 years

This website and the materials herein are directed only to accredited investors and to persons in jurisdictions where Prospect Credit REIT, LLC (“PCRED”) is authorized for distribution. Neither this website nor the materials herein constitute an offer to sell, which can only be made by means of a private placement memorandum (“PPM”). Investing in the Fund during a private placement is speculative and involves a high degree of risk, including the risk that you may receive little or no return on your investment or that you may lose part or all of your investment. A private placement has a relative lack of liquidity and is suitable only for persons of substantial financial means who have no need for liquidity. There can be no assurance that PCRED’s investment objectives will be met. An investor should carefully consider the fees and expenses, and other information found in the PPM, including the “Risk Factors” section, before making an investment decision. Complete information about investing in PCRED is available in the PPM. NEITHER THE SEC NOR ANY STATE SECURITIES COMMISSION HAS APPROVED OR DISAPPROVED OF ANY OFFERING AND ANY REPRESENTATION TO THE CONTRARY IS A CRIMINAL OFFENSE.

The Prospect Real Estate track record data contained herein is from October 24, 2012, through June 30, 2026, and comprises real estate investments which have been made by PSEC’s wholly-owned portfolio company, NPRC, in multifamily properties. It also includes any investments made by PCM and their respective affiliates. “Realized” investments include all exited investments by NPRC, PCM or their respective affiliates. NPRC Internal rate of return (“IRR”) figures are based on NPRC property-level gross IRRs, which are net of property-level mortgage debt, property manager promotes, debt prepayment costs that have been incurred, and transaction expenses that have been incurred. Leverage only includes property-level mortgage debt and excludes debt provided by PSEC to NPRC as part of its investment in NPRC. The calculations herein have many inherent limitations, only some of which have been described.

The gross IRR figures in the track record are presented on a gross basis before giving effect to management fees, incentive fees / carried interest, expenses, taxes, transaction costs, and other expenses, which would reduce returns and are expected, in the aggregate, to be substantial. The gross IRR performance calculations include historical cash flows (including the initial equity investment, all follow-on equity-funded capex investments, and all distributions received by NPRC from property-level ownership entities inclusive of interest, dividends, principal payments, and any additional payments received, including structuring fees, operating distributions, and distributions of supplemental loan and refinancing net proceeds), as well as the current value of each investment still outstanding less property level mortgage debt and promotes.

In addition, while the investment strategy of PCRED overlaps to some degree with the investment strategy of NPRC, PCRED intends to invest in asset types not historically invested in by NPRC. As a result, there are significant limitations surrounding the prior performance information of NPRC included in this presentation

All information derived from PCRED filings and management, and is as of June 30, 2026, unless otherwise noted.

Distribution payments are not guaranteed and may be modiﬁed at the program’s discretion.

An investor should carefully consider the fees and expenses and other information found in the Conﬁdential Private Placement Memorandum (PPM), including the “Risk Factors” section, before making an investment decision.

This investment is for Accredited Investors only and a PPM can be provided to those Accredited Investors upon request. The Internal Revenue Code of 1986, as amended, imposes numerous constraints on the operations of REITs that do not apply to other investment vehicles. Failure to comply with certain constraints could have a material adverse impact on the Fund. For example, if we fail to qualify as a REIT and no relief provisions apply, our NAV and cash available for distribution to our stockholders could materially decrease. Many competitors are not subject to the operating constraints associated with REIT compliance.

A number of factors may prevent each of the Fund’s investments from generating sufficient net cash ﬂow or may adversely affect their value, or both. These factors include, but are not limited to, national economic conditions, regional and local economic conditions (which may be adversely impacted by plant closings, business layoffs, industry slow-downs, weather conditions, natural disasters, and other factors), local real estate conditions (such as over-supply of or insufficient demand), changing demographics, perceptions by prospective tenants of the convenience, services, safety, and attractiveness of a property, the ability of property managers to provide capable management and adequate maintenance, the quality of a property’s construction and design, increases in costs of maintenance, insurance, and operations (including energy costs and real estate taxes), changes in applicable laws or regulations (including tax laws, zoning laws, or building codes), potential environmental and other legal liabilities, potential instability, default or bankruptcy of tenants in the properties owned by PCRED, and the relative illiquidity of real estate investments in general.

PCRED has a limited operating history.

Ultimus Fund Distributors (Member FINRA/SIPC) is the Dealer Manager for Prospect Credit REIT.

Prospect Credit REIT – Prospect Capital Management’s dedicated non-traded REIT investing in U.S. real estate credit.

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