BRT Apartments Corp. Announces the Acquisition of Apartment Complex in Savannah, Georgia

Core Viewpoint - BRT Apartments Corp. has acquired Oaks at Victory, a 150-unit apartment complex in Savannah, Georgia, marking its first investment in the area [1][2][4] Acquisition Details - The property was purchased for $23.0 million, which includes a $15.7 million mortgage [3] - The mortgage has a maturity date in 2031 and an interest rate of 2.71%, with two years of interest-only payments remaining [3] - BRT borrowed $8.0 million from its credit facility to facilitate the acquisition [3] Financial Position - As of October 6, 2025, BRT has $17.5 million outstanding on its $40.0 million credit facility, which has a current interest rate of 6.63% [3] - The company plans to pay off the credit facility debt using proceeds from scheduled refinancings expected in December 2025 [3] Strategic Goals - The acquisition aligns with the company's strategy to invest in growing markets in the Southeast, aiming to enhance stockholder value through opportunities that drive AFFO and NAV per share growth [4] - BRT currently owns or has interests in 31 multi-family properties with a total of 8,311 units across 11 states [4]