Great Neck, New York, March 21, 2006 -- BRT Realty Trust (NYSE:BRT) today announced that it has completed a $25 million private placement of trust preferred securities. The proceeds from the private placement will be used to reduce existing debt and to provide capital to fund future loan originations.
The $25 million of trust preferred securities have an approximate 30-year term, ending April 30, 2036. They bear interest through April 30, 2016 at 8.23% per annum and thereafter at a floating rate of three-month LIBOR plus 3%. The securities are redeemable, in whole or in part, after five years, without penalty.
Jeffrey Gould, President and Chief Executive Officer commented that the sale of these trust preferred securities provides us with additional capital and the ability to continue the expansion of our lending activities.
BRT Realty Trust is a mortgage REIT which primarily originates short term first and second mortgage loans. BRT’s financial resources, flexibility and expertise enable rapid turnaround on requests for loans secured by income-producing retail, office, industrial and multifamily properties nationwide. Please visit BRT on the internet at www.brtrealty.com.
Certain items in this press release may constitute forward-looking statements within the meaning of the “safe harbor” provisions of the Private Securities Litigation Reform Act of 1995. These statements are based on management’s current expectations and beliefs and are subject to a number of trends and uncertainties that could cause actual results to differ materially from those described in the forward-looking statements. BRT can give no assurance that its expectations will be attained. Factors that could cause actual results to differ materially from BRT’s expectations include, but are not limited to, BRT’s continued ability to secure additional loan; originations, changes in interest rates, changes in the real estate markets, and other risks detailed in BRT’s Annual Report on Form 10-K for the year ended September 30, 2005 and its other reports filed with the SEC. Such forward-looking statements speak only as of the date of this press release. BRT expressly disclaims any obligation or undertaking to release publicly any updates or revisions to any forward-looking statements contained herein to reflect any change in BRT’s expectations with regard thereto or change in events, conditions or circumstances on which any such statement is based.
Contact: Simeon Brinberg – (516) 466-3100
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
###
Loan Application 
Now you can apply online for any first or second mortgage real estate financing for a vast array of property types under the full spectrum of diverse real estate circumstances
