secwatch.observer — SEC 8-K summary
======================================

Issuer:     BRT Apartments Corp. (BRT)
CIK:        0000014846
Form:       8-K
Filed at:   2022-06-21T23:59:59+00:00
Accession:  0000014846-22-000028
Event type: other_material
Sentiment:  positive
Materiality: 0.70
Item codes: 8.01
LLM model:  deepseek-v4-flash:cloud@v2

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

- 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.

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/14846/000001484622000028/0000014846-22-000028-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/14846/000001484622000028/brt-20220620.htm
  HTML page:      https://secwatch.observer/filing/0000014846-22-000028

License: Source filings: public domain (SEC EDGAR). Summaries (headline + bullets): CC-BY-4.0; attribute https://secwatch.observer