P
rospect Capital Management L.P. has sealed a preferred equity deal to revitalize the Roadrunner on McDowell, a 356-unit Class A multifamily property in Scottsdale, Arizona. The investment marks a strategic move by Prospect's real estate platform into high-growth markets like Scottsdale.

    "We're drawn to submarkets with strong fundamentals, and Scottsdale fits the bill," said Grier Eliasek, President and COO of Prospect. "This transaction showcases our ability to provide flexible capital to seasoned sponsors, and we're seeing a growing pipeline of similar opportunities."

    The Roadrunner on McDowell boasts a resort-style living experience in one of Phoenix's most desirable areas, with proximity to Old Town Scottsdale and top-notch amenities. "We see tremendous potential in this asset," said Joseph Ryu, Principal and head of Prospect's real estate credit platform.

    Prospect's real estate platform invests in U.S. commercial real estate credit, including senior mortgages, mezzanine loans, and preferred equity investments. With over 32,000 multifamily units invested across the country, Prospect has established itself as a leading player in the industry.

    The company's expertise spans high-yielding debt and equity investments, with a team of 150 professionals offering investment solutions across credit, private equity, and real estate. As of December 31, 2024, Prospect had $8.3 billion in regulatory assets under management and had invested in over 36 multifamily properties.

    For more information on Prospect Capital Management L.P., visit their website at www.prospectcap.com or call (212) 448-0702.