BRT Apartments Corp.

BRT Apartments Corp. (NASDAQ: BRT) operates as an internally managed real estate investment trust focused on the ownership, operation, and joint venture participation in multifamily properties. The company maintains its website at www.brtapartments.com.

As of December 31, 2025, BRT's portfolio comprises 31 multifamily properties containing approximately 8,311 units across 11 states, with significant concentration in the Southeast United States and Texas. The company wholly owns 21 properties with 5,420 units valued at $595.2 million, maintains ownership interests through unconsolidated joint ventures in ten properties with 2,891 units, holds preferred equity investments in two additional properties, and owns other real estate assets valued at $1.6 million. The portfolio generated approximately $95.3 million in rental and other revenue from consolidated properties during 2025, with unconsolidated joint venture properties generating an additional $49.9 million in revenues.

BRT's business model emphasizes acquiring Class B or better multifamily properties offering stable cash flows and value-add opportunities through repositioning and rehabilitation. The company typically finances acquisitions using fixed-rate mortgage debt covering 50 to 65 percent of purchase prices, with the balance funded through equity contributions. As of December 31, 2025, the weighted average interest rate on consolidated property mortgages was 4.22 percent with a weighted average remaining term of 6.3 years.

The company operates with a lean organizational structure, employing 12 salaried employees as of December 31, 2025, supplemented by part-time personnel and shared services arrangements with affiliated entities. Property management responsibilities are delegated to external management companies operating in respective markets, compensated at rates ranging from 2 to 4 percent of property revenues.

BRT's acquisition process emphasizes properties in strong markets with demographic appeal and capital appreciation potential. The company has pursued development opportunities selectively with joint venture partners when potential returns justify additional risks. During 2025, BRT acquired an 80 percent interest in two multifamily properties containing 364 units for $59.5 million through unconsolidated joint ventures and refinanced four mortgages totaling $58.0 million with replacement financing of $87.7 million.