Financing ·
BRT Apartments Corp. entered into a fourth amendment to its Amended and Restated Loan Agreement with VNB New York, LLC…
BRTBRT Apartments Corp.
BRT Apartments Corp. entered into a fourth amendment to its Amended and Restated Loan Agreement with VNB New York, LLC on September 17, 2026. The amendment reduced the interest rate spread from three-month term SOFR plus 250 basis points to plus 210 basis points and lowered the minimum interest rate floor from 6% to 5%. Additionally, the adjustable cap rate for determining secured asset value was decreased from 6.5% to 6.25%, with $40 million available for borrowing under the facility. Concurrently, the board authorized a replenishment of its stock repurchase program by increasing the authorization amount to $10 million. The company operates in the real estate investment trust sector, specifically owning and managing multifamily apartment properties.