Daily Archives May 21, 2018

BRT Apartments adds property in Dallas/Ft. Worth, Texas

BRT Apartments (NYSE:BRT) acquired Landings of Carrier Parkway, a 281-unit multi-family property located in Grand Prairie, Texas for $30.8M through an entity in which it has a 50% equity interest.

The acquisition price of $30.8M includes $19M of mortgage debt maturing in 2028.

The company contributed $7.3M of equity in connection with the acquisition and anticipated improvements to the property.

The Company has acquired six multi-family properties for a total purchase price in excess of $230 million in fiscal 2018.

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