BRT REALTY TRUST (NASDAQ:BRT) Files An 8-K Other Events
Item 8.01.
| Other Information. |
On December 21, 2016, we received a payment of approximately
$16.3 million related to our $19.5 million loan to the Newark
Joint Venture (the NJV Loan Receivable). The payment primarily
represents a principal pay down of $13.6 million and the payment
of $2.5 million of outstanding deferred interest. In connection
with this transaction, we released certain properties from the
mortgages securing the NJV Loan Receivable. The remaining $5.9
million principal balance of the NJV Loan Receivable matures in
June 2017, bears interest, payable monthly, at the rate of 11%
per year, and is secured by several properties in Newark, New
Jersey.
About BRT REALTY TRUST (NASDAQ:BRT)
