BRT Apartments Corp. is an internally managed real estate investment trust that owns, operates, and holds interests in joint ventures that own and operate multifamily properties. At the end of 2025 the company wholly owned 21 multifamily properties with 5,420 units and a carrying value of $595.2 million. It also held ownership interests through unconsolidated entities in ten multifamily properties with 2,891 units and a net equity carrying value of $46.1 million. Additionally, the company had preferred equity investments in two multifamily properties with a carrying value of $17.7 million and owned other assets through consolidated and unconsolidated subsidiaries with a carrying value of $1.6 million. The 31 multifamily properties are located in 11 states with a primary focus on the Southeast United States and Texas.

BRT Apartments Corp. generates revenue primarily from residential rental income generated by its wholly owned multifamily properties. The company also earns rental and other revenue from multifamily properties held through unconsolidated joint ventures, although these amounts are not consolidated in its financial statements. Preferred equity investments provide a monthly current return and a potential hurdle return based on cash flow from the underlying properties. Additional revenue comes from a leasehold interest in a commercial property in Yonkers New York, which produced $1.5 million of rental income in 2025 and from occasional sales of legacy assets such as cooperative apartment units. Mortgage debt financing and interest income on preferred equity also contribute to overall earnings.

The company operates through the following segments.

• Wholly owned Multifamily Properties: This segment consists of 21 wholly owned multifamily properties with 5,420 units that generate residential rental income from one year leases and provide amenities such as clubhouses, swimming pools, laundry facilities, and internet access.

• Unconsolidated Joint Venture Properties: This segment includes ownership interests in ten multifamily properties with 2,891 units held through unconsolidated entities that produce rental revenue which is reported separately from the company’s consolidated results.

• Preferred Equity Investments: This segment comprises preferred equity stakes in two multifamily properties that provide a monthly current return of 6.0% to 6.5% of the invested capital and a potential hurdle return of 6.5% to 7% payable from available cash flow after sponsor fees.

• Other Real Estate Assets: This segment consists of miscellaneous assets with a carrying value of $1.6 million including cooperative apartment units in New York, a leasehold position in Yonkers New York, and a nominal profit participation in an entity that owns multifamily properties in New Jersey.

BRT Apartments Corp. competes in the multifamily real estate sector against publicly traded and private real estate investment trusts, pension funds, developers, and private investors. The company’s competitive advantages stem from its internal management platform, its focus on acquiring Class B or better multifamily properties with stable cash flows and value added opportunities in the Southeast United States and Texas, and its ability to secure long term fixed rate mortgage debt on favorable terms. While many competitors possess greater financial resources, BRT Apartments Corp. leverages its local market knowledge and relationship driven acquisition process to generate risk adjusted returns.

The company serves residential tenants seeking multifamily housing in its target markets. Its properties attract individuals and families looking for rental units with amenities such as swimming pools, clubhouses, and laundry facilities. In addition, the leasehold interest in Yonkers New York provides commercial space to business tenants. The company also works with joint venture partners and preferred equity sponsors as part of its investment structure.