NEW YORK, Aug. 26, 2026 (GLOBE NEWSWIRE) — Prospect Credit REIT, LLC (“PCRED”), a private real estate credit fund focused on stabilized multifamily and managed by an affiliate of Prospect Capital Management L.P. (“Prospect”), announced today that its shareholder distribution per share has now increased for six consecutive quarters. PCRED investors have experienced an increase in distribution per share every quarter since PCRED began making distributions.1,2
PCRED’s monthly distribution per share has grown approximately 39%, from $0.1453 per share in April 2025 to $0.2023 per share as of August 2026.1 PCRED’s distribution rate is calculated on the fund’s most recent quarter-end net asset value (“NAV”) per share. PCRED’s NAV has also increased by 5.9% since inception. All distributions paid to date have been covered by cumulative net investment income, without the use of offering proceeds or borrowings, and rely on no fund-level leverage.2
PCRED portfolio property borrowers have made 100% of contractually obligated payments since inception with a current portfolio consisting of three preferred equity investments. Each of the fund’s investments were originated in tandem with low-cost agency senior loans on stabilized, cash-flowing multifamily properties totaling 1,137 apartment units. Two of the investments are located in the New York metropolitan area and the third is located in Scottsdale, AZ. Across the portfolio, PCRED’s investments are operating at a weighted average occupancy of 91.6% as of June 30, 2026.
PCRED has generated a 13.2% annualized total return to investors and has produced a positive total return in every month since inception.3,4 PCRED is currently paying a 9.0% distribution rate per annum on NAV.2 These returns have been generated without any fund-level leverage and with a portfolio-wide weighted average last-dollar loan-to-value of 69.3%.5
For more information on Prospect Credit REIT, please call (888) 212-2032 or email: investorservices@pcredreit.com.
About Prospect Capital Management L.P. (“Prospect”)
Prospect is an SEC-registered investment adviser headquartered in New York City that, along with its predecessors and affiliates, has 39 years of experience investing in and managing debt and equity investments using both private partnerships and publicly traded closed-end structures. Prospect and its affiliates employ a team of over 145 professionals and offer investment opportunities across credit, private equity, and real estate. Prospect, together with its affiliates, has $7.0 billion of regulatory assets under management as of June 30, 2026.
Prospect and its affiliates’ real estate platform invests in U.S. commercial real estate including senior mortgages, subordinated loans, preferred and other equity investments. As of June 30, 2026, Prospect and its affiliates have invested in over 32,000 multifamily units with initial property value of $4.5 billion and have realized 39 multifamily investments.
Definitions
Net Asset Value (“NAV”) – Value of the fund determined by subtracting liabilities from assets; the market value of the REIT’s investments less any liabilities it has. NAV is determined as of the last calendar day of each quarter by Prospect Credit REIT Advisor, LLC in accordance with PCRED’s valuation guidelines. NAV is a non-GAAP financial measure and there is no regulation or industry practice that requires NAV to be calculated in a certain way.
Distribution per Share – The monthly distribution paid on a per-share basis, calculated by applying the distribution rate to the most recent quarter-end NAV per share.
Loan-to-Value (“LTV”) – Loan-to-Value is a metric that measures the size of a loan relative to the appraised value or purchase price of a property.
Footnotes
1 April 2025 is used as the starting point for monthly distribution-per-share comparisons because it was PCRED’s first distribution attributable to a single month of operations.
2 Distributions are not guaranteed. Distribution rates are calculated by dividing total payout to investors on a per share basis by the current net asset value per share. Distributions to date have been 100% covered by net investment income. Distributions are intended to be paid monthly as authorized by the Board of Directors.
3 PCRED’s inception date is December 16, 2024. References in this release to since-inception figures are measured from that date.
4 Returns are calculated by compounding and annualizing distributions to investors plus the growth of net asset value since operations commenced.
5 Average of PCRED’s last dollar basis in each portfolio investment divided by the latest appraised value of the subject investment collateral as of the reporting date.
Disclosures
There is no guarantee that PCRED’s objectives will be met or that PCRED will qualify as a REIT.
The performance data quoted herein represents past performance. Current performance may be lower or higher than the performance data quoted herein. The past performance of PCRED does not guarantee future results. Increases in the distribution per share to date are not indicative of future increases, and the distribution rate is subject to change. Distributions are not guaranteed and may be funded from sources other than cash flow from operations, including borrowings, offering proceeds, the sale of our assets and repayments of our real estate debt investments. We have no limits on the amounts we may fund from such sources. Distributions are authorized at the discretion of the Board of Directors and may be modified at any time.
These and other risks may impact PCRED’s financial condition, operating results, returns to investors, and ability to make distributions as stated in the PPM. 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.
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.
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