BRT Apartments Corp.

BRT Apartments Corp. is a real estate investment trust (REIT) that owns and operates multi-family properties, and to a lesser extent, holds interests in joint ventures that own and operate such properties. As of December 31, 2025, the company wholly-owns 21 multi-family properties comprising 5,420 units with a carrying value of $595.2 million. Additionally, through unconsolidated entities, it holds ownership interests in ten multi-family properties with 2,891 units, where the net equity investment has a carrying value of $46.1 million. The company also has preferred equity investments in two multi-family properties with a carrying value of $17.7 million and owns other assets through consolidated and unconsolidated subsidiaries with a carrying value of $1.6 million. These 31 multi-family properties are situated in 11 states, primarily across the Southeast United States and Texas. In 2025, the company acquired an 80% interest in two multi-family properties, totaling 364 units, through two unconsolidated joint ventures for an aggregate purchase price of $59.5 million, which included $40.1 million of mortgage debt. This mortgage debt has a weighted average interest rate of 4.34% and a weighted average remaining term to maturity of 6.6 years. Also in 2025, the company refinanced four mortgages maturing in 2025 and 2026, with an aggregate principal amount of $58.0 million and a weighted average fixed interest rate of 4.38%, replacing them with four new mortgages totaling $87.7 million in aggregate principal amount.