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BRT Apartments (NYSE: BRT) plans $35M acquisition of 153-unit Atlanta high-rise

Filing Impact
(Moderate)
Filing Sentiment
(Neutral)
Form Type
8-K

Rhea-AI Filing Summary

BRT Apartments Corp. entered into an agreement to acquire The Waterford on Piedmont, a 153-unit, ten-story multifamily property in Atlanta’s Midtown submarket, for approximately $35 million, subject to customary closing adjustments and conditions. BRT expects to obtain an approximately $22 million mortgage and fund the remaining approximately $14 million, including closing costs and working capital reserves, from refinancings of properties that have appreciated in value. The transaction is anticipated to close during the quarter ending September 30, 2026, following satisfactory completion of due diligence. Based on seller-provided data, the property generated revenues of $881 thousand and real estate operating expenses of $405 thousand for the three months ended May 31, 2026, and revenues of $3,487 thousand with operating expenses of $1,635 thousand for the twelve months ended May 31, 2026.

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Insights

BRT adds a 153-unit Atlanta asset financed mainly with debt and refinancings.

The agreement to acquire The Waterford on Piedmont for about $35 million expands BRT Apartments Corp. in the Atlanta Midtown multifamily market. Financing is expected to combine an approximately $22 million mortgage with about $14 million sourced from refinancings of appreciated properties, limiting the need for fresh equity.

Seller-provided figures show twelve-month revenues of $3,487 thousand and real estate operating expenses of $1,635 thousand through May 31, 2026, suggesting a positive property-level margin before other costs. The closing remains subject to due diligence and customary conditions, so the actual impact depends on successful completion of the transaction and integration into BRT’s portfolio.

Item 8.01 Other Events Other
Voluntary disclosure of events the company deems important to shareholders but not covered by other items.
Item 9.01 Financial Statements and Exhibits Exhibits
Financial statements, pro forma financial information, and exhibit attachments filed with this report.
Purchase price $35 million Approximate price for The Waterford on Piedmont
Mortgage financing $22 million Approximate mortgage expected on the property
Equity/refinancing component $14 million Approximate balance funded from refinancings
Units acquired 153 units Multifamily residences at The Waterford on Piedmont
Quarterly revenue $881 thousand Revenues for three months ended May 31, 2026
Quarterly operating expenses $405 thousand Real estate operating expenses, three months ended May 31, 2026
Annual revenue $3,487 thousand Revenues for twelve months ended May 31, 2026
Annual operating expenses $1,635 thousand Real estate operating expenses, twelve months ended May 31, 2026
due diligence investigation financial
"subject to, among other things, the satisfactory completion of the Company’s due diligence investigation"
working capital reserves financial
"funding the approximate $14 million balance of the purchase price (including closing costs and working capital reserves)"
Working capital reserves are the cash and short-term assets a company keeps on hand to pay daily bills, buy inventory, and cover short-term obligations without selling long-term assets or borrowing. Investors watch this like an emergency fund for a household: healthy reserves signal a company can keep operating through slow periods or unexpected costs, while thin reserves increase the risk of needing urgent financing or cutting operations.
real estate operating expenses financial
"the revenues and real estate operating expenses for the Property were as follows"
Inline XBRL regulatory
"the cover page XBRL tags are embedded within the Inline XBRL document"
Inline XBRL is a file format for financial filings that embeds machine-readable data tags directly inside the human-readable report, so the same document can be read by people and parsed by software. For investors it makes extracting, comparing and verifying financial numbers faster and more reliable—like a grocery list where each item also has a barcode—reducing manual errors and speeding up analysis.
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FAQ

What property is BRT (BRT) acquiring in its latest 8-K filing?
BRT Apartments Corp. agreed to acquire The Waterford on Piedmont, a 153-unit, ten-story multifamily property in the Midtown submarket of Atlanta, Georgia. The asset is a high-rise apartment community, expanding BRT’s presence in a major Sunbelt market.

What is the purchase price of The Waterford on Piedmont for BRT (BRT)?
The agreed purchase price is approximately $35 million, subject to customary closing purchase price adjustments. This amount covers the acquisition of the 153-unit property, with additional funding also earmarked for closing costs and working capital reserves associated with the transaction.

How will BRT (BRT) finance the Waterford on Piedmont acquisition?
BRT anticipates obtaining an approximately $22 million mortgage on the property and funding the remaining approximately $14 million from refinancings of properties that have appreciated. This structure mixes property-level debt with capital unlocked from existing assets.

When is the BRT (BRT) Waterford on Piedmont acquisition expected to close?
The transaction is anticipated to close during the quarter ending September 30, 2026. Completion depends on satisfactory due diligence by BRT Apartments Corp. and other customary closing conditions being met between BRT and the property’s seller.

What recent revenue has the Waterford on Piedmont property generated per BRT (BRT)?
Based on seller-provided data, the property generated $881 thousand in revenues and $405 thousand in real estate operating expenses for the three months ended May 31, 2026. For the twelve months ended that date, revenues were $3,487 thousand with expenses of $1,635 thousand.

What conditions still apply to BRT’s (BRT) planned acquisition of The Waterford on Piedmont?
Closing remains subject to BRT’s satisfactory completion of a due diligence investigation and other customary closing conditions. These conditions must be fulfilled before the acquisition can be finalized and the property added to BRT’s operating portfolio.
false000001484600000148462026-07-082026-07-08

UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
WASHINGTON, D.C. 20549

FORM 8-K

CURRENT REPORT


Pursuant to Section 13 or 15(d) of the
Securities Exchange Act of 1934

Date of Report (Date of earliest event reported): July 8, 2026

BRT APARTMENTS CORP.
(Exact name of Registrant as specified in charter)
Maryland001-0717213-2755856
(State or other jurisdiction of incorporation)(Commission file No.)(IRS Employer I.D. No.)


60 Cutter Mill Road, Suite 303, Great Neck, New York 11021
(Address of principal executive offices) (Zip code)

Registrant's telephone number, including area code: 516-466-3100

Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions (see General Instruction A.2. below):

☐ Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)

☐ Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)

☐ Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR
240.14d-2(b))

☐ Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR
240.13e-4(c)

Securities registered pursuant to Section 12(b) of the Act:
Title of each classTrading Symbol(s)Name of each exchange on which registered
Common StockBRTNYSE

Indicate by check mark whether the registrant is an emerging growth company as defined in Rule 405 of the Securities Act of 1933 (§230.405) of this chapter) or Rule 12b-2 of the Securities Exchange Act of 1934 (§240.12b-2 of this chapter).
☐ Emerging growth company

If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act.



Item 8.01     Other Events


On July 8, 2026, we entered into an agreement to acquire The Waterford on Piedmont, a 153-unit, ten-story high-rise multifamily property (the “Property”) located in the Midtown submarket of Atlanta, Georgia. The purchase price is approximately $35 million (subject to customary closing purchase price adjustments): we anticipate obtaining an approximate $22 million mortgage and funding the approximate $14 million balance of the purchase price (including closing costs and working capital reserves) from refinancings of properties that have appreciated in value.

The completion of the transaction, which is anticipated to close during the quarter ending September 30, 2026, is subject to, among other things, the satisfactory completion of the Company’s due diligence investigation and other customary closing conditions.

Based on information provided by the seller (which information has not been audited by our independent auditors), the revenues and real estate operating expenses for the Property were as follows for the indicated periods (dollars in thousands):

Three Months Ended
May 31, 2026		Twelve Months Ended
May 31, 2026
Revenues$881 $3,487 
Real estate operating expenses$405 $1,635 







Item 9.01    Financial Statements and Exhibits.

(d) Exhibits.



Exhibit No.Description
101Cover Page Interactive Data File - the instance document does not appear in the Interactive Data File because its XBRL tags are embedded within the Inline XBRL document.
104Cover Page Interactive Data File - the cover page XBRL tags are embedded within the Inline XBRL document





SIGNATURE


Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.

BRT APARTMENTS CORP.
July 8, 2026/s/ Isaac Kalish
Isaac Kalish
Chief Financial Officer and Senior Vice President

Source: View Original Filing on SEC EDGAR

Filing Exhibits & Attachments

3 documents

Other Documents