AcquisitionsJul 8, 2026, 04:17 PM
BRT Apartments to Acquire 153-Unit Atlanta Property for $35M
AI Summary
BRT Apartments Corp. has entered into an agreement to acquire The Waterford on Piedmont, a 153-unit high-rise multifamily property in Atlanta, Georgia. The purchase price is approximately $35 million, with funding expected from a $22 million mortgage and $14 million from refinancings of other properties. The acquisition is subject to due diligence and customary closing conditions, with an anticipated close in the quarter ending September 30, 2026. The filing also provided unaudited revenue and operating expense data for the acquired property.
Key Highlights
- BRT Apartments to acquire The Waterford on Piedmont, a 153-unit multifamily property.
- Property located in the Midtown submarket of Atlanta, Georgia.
- Purchase price is approximately $35 million.
- Anticipates obtaining an approximate $22 million mortgage.
- Funding approximate $14 million balance from refinancings of appreciated properties.
- Transaction expected to close during the quarter ending September 30, 2026.
- Property revenues for three months ended May 31, 2026, were $881 thousand.
- Property revenues for twelve months ended May 31, 2026, were $3,487 thousand.
Price Impact
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