{"url_path":"/sec/brt/8-k/2026-06-04/item-8-01","section_key":"item-8-01","section_title":"Item 8.01 Other Events","topic":"sec","document":{"doc_type":"8-K","doc_date":"2026-06-04","source_url":"https://www.sec.gov/Archives/edgar/data/14846/0000014846-26-000021-index.html","accession_number":"0000014846-26-000021","cik":"0000014846","ticker":"BRT","issuer_name":"BRT Apartments Corp.","edgar_url":"https://www.sec.gov/Archives/edgar/data/14846/0000014846-26-000021-index.html","primary_entity_key":"0000014846","primary_entity_name":"BRT Apartments Corp."},"word_count":259,"has_tables":true,"body_markdown":"Item 8.01     Other Events\n\nOn June 2, 2026, we entered into an agreement to acquire Ranch Lake Apartments, a 336-unit multifamily property (the “Property”) located in Bradenton, Florida. The purchase price is approximately $80 million (subject to customary closing purchase price adjustments), including the assumption of an approximately $45.7 million mortgage insured by HUD. The mortgage carries an interest rate of 2.91% and matures in 2056.\n\nThe completion of the transaction, which is anticipated to close in the fourth quarter of 2026 or the first quarter of 2027, is subject to, among other things, the satisfactory completion of our due diligence investigation, HUD and lender approval of the mortgage assumption, and other customary closing conditions. We anticipate funding the approximate $38 million balance of the purchase price (including closing costs and working capital reserves) from refinancings of properties that have appreciated in value, property sale(s) and our credit facility.\n\nBased on information provided by the seller (which information has not been audited or reviewed by our independent auditors), the revenues and real estate operating expenses for the Property were as follows for the indicated periods (dollars in thousands):\n\nThree Months Ended\nApril 30, 2026Twelve Months Ended April 30, 2026\n\nRevenues$1,824 $7,403 \n\nReal estate operating expenses$765 $3,176 \n\nWe are aware of the challenging operating environment currently affecting multifamily properties in Bradenton, Florida and anticipate that the Property’s operating results at closing may be less favorable than presented above. We can provide no assurance that this transaction will be completed or that if completed, that it will be accretive to earnings."}