BRT Apartments 80%-owned JV sells 204-unit SC property for $32.4M; expects $11.3M gain

BRT Apartments Corp.

Sale of Waters Edge at Harbison (Columbia, SC, 204 units) for ~$32.4M.
Estimated 20.2% IRR over six-year hold period; net gain of $11.3M after $263K prepayment.
Property had $12.3M mortgage debt at 4.28% interest with 4.2 years remaining.
Contributed a $66K loss to BRT's equity in 2021.
Closing expected in Q3 2022, subject to customary conditions.

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