BRT Apartments Corp. is a real estate investment trust that owns and operates multi-family apartment properties, with a portfolio concentrated in the Southeastern United States and Texas. The company's investments are located in various markets including Dallas and San Antonio, Texas; Atlanta, Georgia; Nashville, Tennessee; as well as cities in Florida, Alabama, and the Carolinas. A key component of its strategy involves acquiring properties, often through joint ventures, and implementing a value-add program to renovate units and enhance rental income.
BRT Apartments Corp. has been executing a strategy centered on transitioning its portfolio by exiting older joint ventures and acquiring full ownership of select multi-family properties to capture greater cash flows. Concurrently, the company is recycling capital from asset sales to fund share repurchases and debt reduction, while selectively acquiring properties in supply-constrained submarkets. Over the past several years, the company undertook significant historical transactions, primarily large-scale multi-property portfolio acquisitions and joint venture partner buyouts. Notably, a major historical Mississippi portfolio acquisition in 2020 was completed at a blended cap rate of 6.1%, and an earlier Houston portfolio transaction closed at a 6.44% cap rate.
The company's quarterly dividend has remained unchanged at $0.25 per share.
**Acquisitions**
**Dispositions**
**Refinancings, new loans & other capital markets**
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