BRT REALTY TRUST (NYSE: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 (NYSE:BRT)
BRT Realty Trust (the Trust) is a real estate investment trust (REIT). The Trust owns, operates and develops multi-family properties, and commercial and mixed use real estate assets. The Trust operates through two segments: multi-family real estate and other real estate. The multi-family real estate segment includes the ownership, operation and development of the Trust’s multi-family properties. The other real estate segment includes all activities related to the ownership, development, operation and disposition of the Trust’s other real estate assets. Its multi-family property activities involve the ownership, operation and development, primarily through joint ventures. It owns approximately 30 multi-family properties located in approximately 10 states. Its multifamily properties are garden apartment, mid rise or town home style properties that provide residents with amenities, such as a clubhouse, swimming pool, laundry facilities and cable television access. BRT REALTY TRUST (NYSE:BRT) Recent Trading Information
BRT REALTY TRUST (NYSE:BRT) closed its last trading session up +0.09 at 8.14 with 14,575 shares trading hands.