secwatch.observer — SEC 8-K summary
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Issuer:     BRT Apartments Corp. (BRT)
CIK:        0000014846
Form:       8-K
Filed at:   2022-06-14T23:59:59+00:00
Accession:  0000014846-22-000026
Event type: other_material
Sentiment:  positive
Materiality: 0.60
Item codes: 8.01
LLM model:  deepseek-v4-flash:cloud@v2

BRT Apartments sells Retreat at Cinco Ranch for $68.3M, expects $16.5M gain
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- Sold Retreat at Cinco Ranch (Katy, TX) for $68.3M; BRT held 75% interest in unconsolidated joint venture.
- BRT received net proceeds of ~$21.4M and expects $16.5M gain in Q2 2022, after $639k defeasance charge.
- Property generated ~20.4% IRR over 6.5 years; had $30.2M mortgage debt at 4.44%, remaining term 3.8 years.
- Proceeds to be used for partner buy-outs, pay down ~$6M credit facility debt, and general corporate purposes.

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/14846/000001484622000026/0000014846-22-000026-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/14846/000001484622000026/brt-20220614.htm
  HTML page:      https://secwatch.observer/filing/0000014846-22-000026

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