GREAT NECK, NY – BRT Apartments Corp. has entered into agreements to sell two multifamily properties for $226 million. The two properties are owned by an unconsolidated joint-venture, in which BRT Apartments Corp. has a 50% interest.
BRT Apartments Corp. expects to recognize its share of the gain, net of any prepayment penalty, between $28 million and $30 million from the property sales.
The properties comprise the $118.3 million 586-unit property, Parc at 980, in Lawrenceville, GA and the $108.0 million 522-unit property, The Avenue Apartments, in Ocoee, FL.
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Ingrid Tunberg
Ingrid Tunberg sits on the editorial team as a coordinator and reporter for Real Estate Forum and GlobeSt.com. She is responsible for writing stories, assisting with industry awards and marketing nomination events. Previously, Ingrid worked as a copywriter across various industries throughout New York City and Chicago.
