BRT Apartments Corp Completes Sale of Multifamily Property, Recognizes $11.4 Million Gain
BRT Apartments Corp (NYSE:BRT) announced the sale of a 204-unit multifamily property in Columbia, South Carolina for approximately $32.4 million through an unconsolidated joint venture where it holds an 80% equity interest. The company expects to recognize an $11.4 million gain and will use net proceeds from the sale to pay down debt on its credit facility.
Tickers: $BRT
Topics: capital structure joint ventures multifamily properties real estate