BRT Apartments Corp. Sells Indianapolis Property for $36.5 Million
BRT Apartments Corp. (MD) (BRT)
Last brt apartments corp. (md) earnings: 11/6 04:05 pm
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US:NYSE Investor Relations:
brtapartments.com/investor_relations
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Source: GlobeNewswire
GREAT NECK, N.Y., Dec. 19, 2019 (GLOBE NEWSWIRE) -- BRT Apartments Corp. (NYSE:BRT) today announced the sale of Waterside at Castleton, located in Indianapolis, Indiana, in which the Company held an 80% joint venture equity interest. The property was sold for an aggregate gross sales price of $36.5 million and a gain of approximately $17.0 million, of which $7.3 million is allocated to the non-controlling interest. The gain will be recognized in the quarter ending December 31, 2019. BRT incurred a $1.6 million mortgage defeasance charge, of which $697,000 is allocated to the non-controlling interest. The net gain to BRT, after giving effect to the non-controlling interest and BRT’s share of the defeasance charge, is approximately $8.8 million. The Company owned Waterside for almost six years over which the property produced an annual IRR greater than 22%. Jeffrey A. Gould, President and Chief Executive Officer commented, “Our experience with the ownership and sale of Watersid
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- Rainbow Realty Group Acquires $2.3 Million Industrial Building In New Jersey [Financial Post (Toronto, Ontario, Canada)]Financial Post
BRT
Earnings
- 11/7/24 - Miss
BRT
Sec Filings
- 11/18/24 - Form 4
- 11/13/24 - Form 4
- 11/12/24 - Form 144
- BRT's page on the SEC website