BRT — what changed in the latest 10-Q

Text added vs the prior filing · source: 10-Q · 2026-05-07

• •increases in expenses over which we have limited control, such as real estate taxes, insurance and utilities, due to inflation or other factors such as the ongoing conflicts between (i) Ukraine and Russia and (ii) Israel / the United States of America and Iran;

• We face challenges due to the uncertain national economic environment (e.g., the possibility of inflation, recession and/or stagflation, the potential impact of tariffs and trade wars, and/or volatile interest rates), and the oversupply of multifamily properties in several markets in which we compet…

• We anticipate that our mortgage interest expense will increase as we refinance the aggregate $88.6 million and $65.9 million of principal balances of mortgage debt maturing in 2026 and 2027, respectively (including $61.0 million and $23.1 million of such principal balances at unconsolidated subsidia…

• Three months ended March 31, 2026 compared to three months ended March 31, 2025.

• As used herein, the term "same store properties" refers to multifamily properties that were wholly owned for the entirety of the periods presented. For the three months ended March 31, 2026 and 2025, all of our multifamily properties in our consolidated portfolio are same store properties.

Text removed vs the prior filing · source: 10-Q · 2025-11-06

• •increases in expenses over which we have limited control, such as real estate taxes, insurance costs and utilities, due to inflation and other factors;

• On July 15, 2025, a joint venture in which we have an 80% interest, acquired 1322 North, a 214-unit multi-family property located in Auburn, AL (the "Auburn Acquisition"). The venture acquired the property for $36.5 million, including a $24.4 million mortgage. The mortgage matures in 2032, bears a 5…

• On September 19, 2025, a joint venture in which we have an 80% interest, acquired Oaks at Victory, a 150-unit multi-family property located in Savannah, GA (the "Savannah Acquisition"; and together with the Auburn Acquisition, the "Acquisitions"). The venture acquired the property for $23 million, i…

• See Notes 9 and 10 to our consolidated financial statements.

• During the quarter ended September 30, 2025, the Company sold a cooperative apartment unit located in New York, NY for a sales price of $995,000 and, after closing costs, recognized a gain of $755,000 on the sale.

Text removed vs the prior filing · source: 10-Q · 2025-11-06

• Impact of the One Big Beautiful Bill Act on the Company and its Stockholders

• The discussion under "Federal Income Tax Considerations" in our prospectus dated April 28, 2023, as the same may have been amended or supplemented form time-to-time (the “Prospectus”), is hereby modified to reflect legislation commonly referred to as the One Big Beautiful Bill Act. Capitalized terms…

• Enactment of the One Big Beautiful Bill Act: On July 4, 2025, legislation commonly referred to as the One Big Beautiful Bill Act (the “OBBBA”) was enacted into law. Among other changes, the OBBBA included a number of changes to the Code that affect the U.S. federal income tax laws applicable to REIT…

• REIT Asset Tests: The OBBBA increases the ownership limit applicable to TRSs for taxable years ending after December 31, 2025. For taxable years ending after December 31, 2017 through December 31, 2025, not more than 20% of the value of our total assets may be represented by securities of one or mor…

• Pass-Through Business Income Tax Rate Lowered through Deduction: The OBBBA permanently extends the provisions allowing individuals and some trusts and estates to deduct up to 20% of “qualified REIT dividends,” which are REIT dividends other than capital gain dividends, dividends designated as eligib…