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

Issuer:     BRT Apartments Corp. (BRT)
CIK:        0000014846
Form:       8-K
Filed at:   2022-09-01T23:59:59+00:00
Accession:  0000014846-22-000040
Event type: other_material
Sentiment:  positive
Materiality: 0.65
Item codes: 8.01
LLM model:  deepseek-v4-flash:cloud@v2

BRT Apartments sells SC property for $32.4M; expects $11.4M gain, 20% IRR
-------------------------------------------------------------------------

- Sold Waters Edge (204 units) in Columbia, SC for ~$32.4M; BRT held 80% equity interest.
- BRT received net proceeds of ~$13.3M; estimates $11.4M gain and $385K mortgage prepayment charge.
- BRT generated ~20% IRR over six-year hold period.
- Property contributed $66K equity loss in 2021.
- Proceeds used to pay down credit facility debt; CEO cites additional capital flexibility.

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/14846/000001484622000040/0000014846-22-000040-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/14846/000001484622000040/brt-20220901.htm
  HTML page:      https://secwatch.observer/filing/0000014846-22-000040

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