BRT Realty Trust (BRT) Announces Acquisition of Pointe at Lenox Park
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BRT Realty Trust Acquires Multi-Family Property for $39.1 Million
August 16, 2016 4:20 PM EDTGREAT NECK, NY -- (Marketwired) -- 08/16/16 -- BRT REALTY TRUST (NYSE: BRT) today announced that it acquired, through a joint venture in which it has a 74% interest, Pointe at Lenox Park, a 271 unit multi-family property located in Atlanta, GA for $39.1 million, including $27.4 million of mortgage debt obtained in connection with the acquisition. The mortgage debt has an annual interest rate of 3.97%, matures in September 2026, and is interest only until October 2019.
Jeffrey A. Gould, President and Chief Executive Officer commented, "We are pleased to add Pointe at Lenox Park to our portfolio. This... More
