BRT Realty Trust closed a $12,000,000 first mortgage loan on two office buildings in ten days.
Great Neck, New York, April 9, 2008 -- BRT Realty Trust (NYSE:BRT) Great Neck, NY -- BRT Realty Trust, a national portfolio lender specializing in providing short-term loans with fast response, recently closed a first mortgage loan on two office buildings totaling $12,000,000 located in a 200 acre mixed-use commercial park thirty minutes from Baltimore in Silver Spring, Maryland.
The two Class “A” office buildings totaling 142,796 square feet were purchased as part of a 1031 exchange that the borrower needed to complete quickly. The ten day close also satisfied the short term contract that had a time of essence closing by quarter end. The borrower is a first time borrower of BRT Realty Trust.
BRT Realty Trust is a public mortgage REIT traded on the New York Stock Exchange (BRT). Founded in 1972, BRT provides first and second mortgage, short term bridge and participating loans. The company's financial resources, flexibility and expertise enable rapid turnaround on loan requests from $1,000,000 to $75,000,000 for income-producing retail, office, industrial and multifamily properties nationwide. Please visit us on the internet at www.brtrealty.com.
BRT is a New York-based Real Estate Investment Trust that specializes in the origination and holding for investment of senior and junior commercial mortgage loans secured by real property in the United States. For more information on BRT, please visit our Home Page.
Caution Concerning Forward-Looking Statements: Materials included in this filing may contain "forward-looking statements" within the meaning of the Private Securities Litigation Reform Act of 1995. Such forward-looking statements involve known and unknown risks, uncertainties and other factors that could cause actual results to be materially different from historical results or from any future results expressed or implied by such forward-looking statements. Statements that include the words "may," "will," "would," "could," "should," "believes," "estimates," "projects," "potential," "expects," "plans," "anticipates," "intends," "continues," "forecast," "designed," "goal," or the negative of those words or other comparable words should be considered uncertain and forward-looking.
Contact: Simeon Brinberg, Senior Vice President - (516) 466-3100
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