secwatch.observer — SEC 8-K summary
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Issuer:     BRT Apartments Corp. (BRT)
CIK:        0000014846
Form:       8-K
Filed at:   2022-07-01T23:59:59+00:00
Accession:  0000014846-22-000030
Event type: other_material
Sentiment:  positive
Materiality: 0.75
Item codes: 8.01
LLM model:  deepseek-v4-flash:cloud@v2

BRT completes $91.3M sale of The Vive, buys out partner in Grove at River Place for $7.5M
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- Sold The Vive for $91.3M; expects $21.5M gain in Q2 2022 after $745K prepayment charge.
- Generated 39.9% IRR over 3.25 years from The Vive; BRT received ~$30.2M net proceeds.
- Purchased remaining 20% interest in Grove at River Place for $7.5M; consolidates $10.4M mortgage at 4.39%.
- Proceeds to be used for partner buyouts, debt paydown, and general corporate purposes.
- CEO cites continued portfolio growth and value extraction from targeted asset transactions.

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/14846/000001484622000030/0000014846-22-000030-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/14846/000001484622000030/brt-20220630.htm
  HTML page:      https://secwatch.observer/filing/0000014846-22-000030

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