BRT Apartments Corp. Agrees to Sell Multi-Family Property for More Than $97 Million
BRT Apartments Corp. (MD) (BRT)
Last brt apartments corp. (md) earnings: 11/6 04:05 pm
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Source: GlobeNewswire
GREAT NECK, N.Y., Jan. 08, 2018 (GLOBE NEWSWIRE) -- BRT Apartments Corp. (NYSE:BRT) announced that it has entered into a contract to sell The Fountains Apartments, a 542 unit property located in Palm Beach Gardens, Florida, for approximately $97.3 million. It is anticipated the sale will be completed, subject to the satisfaction of customary closing conditions, in the second quarter of fiscal 2018. BRT estimates that its share of the gain on this sale, net of its share of mortgage prepayment charges, will be approximately $20.5 million. During the fiscal year ended September 30, 2017, this property generated $9.2 million of rental and other revenue and $7.9 million of expense, including $1.9 million of depreciation and $1.9 million of interest expense. “We anticipate that in the short-term, we will be able to recycle the proceeds from this sale into accretive acquisition opportunities,” commented Jeffrey A. Gould, Chief Executive Officer and President of BRT. Forward Looking Sta
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BRT
Earnings
- 8/7/23 - Miss
BRT
Sec Filings
- 4/22/24 - Form 4
- 4/22/24 - Form 4
- 4/22/24 - Form 4
- BRT's page on the SEC website