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Prospect’s Real Estate Platform Provides $12 Million in Preferred Equity to Class A Stabilized Cash Flowing Multifamily Property in Scottsdale
Feb 13, 2025•over 1 year ago
Contract Type
partnership
New YorkFinancial ServicesReal EstateFinanceReal Estate InvestmentLendingDescription
Prospect Capital Management L.P. has closed on a preferred equity investment to recapitalize the Roadrunner on McDowell, a 356-unit, Class A stabilized cash flowing multifamily property in Scottsdale, Arizona. The property is owned by KB Development, a privately-owned multifamily operator headquartered in California. This partnership represents Prospect's active investing in high-quality multifamily assets in growth-oriented markets.
Agreement Insights
Based on industry dataStrategic partnership established
Partnership agreements typically involve technology integration and joint go-to-market strategies
Contract momentum indicator
Companies with recent agreements are 2.3x more likely to make additional purchases within 6 months