BRT Apartments Corp. Completes Debt Refinancings, Securing $71.9 Million in New Mortgage Debt with a 9-Year Term and 4.95% Interest Rate

BRT Apartments Corp. completed debt refinancings for three mortgages totaling $42.7 million with a weighted average interest rate of 4.36%. The company refinanced the debt with new mortgages totaling $71.9 million, with a weighted average interest rate of 4.95% and a remaining term of approximately nine years. BRT used $17.5 million of the proceeds to pay off the credit facility. The refinancing positions the company to pursue future investment opportunities in its core Sunbelt markets.