M&A
confidence high
sentiment positive
materiality 0.75
BRT completes $36.2M buyout of partner's 25% interest in two Mississippi multifamily properties (776 units)
BRT Apartments Corp.
- Paid $36.2M for remaining 25% interest in Civic Center I and II, 776 units in Southaven, MS.
- Assumes $57.4M in mortgage debt (3.97% weighted avg rate, 3.9 yrs remaining term).
- Properties contributed $1.1M in equity earnings in 2021.
- CEO says deal enhances cash flow, grows wholly-owned portfolio, creates long-term value.