Great Neck, New York, February 16, 2005 -- BRT Realty Trust (NYSE:BRT) announced today that it has closed on a new line of credit with a maximum availability of $85,000,000. This replaces a $60,000,000 line of credit. Jeffrey A. Gould, President and Chief Executive Officer of BRT, commented that “this new and increased line of credit gives us additional flexibility in servicing our clients.”
The line of credit is with North Fork Bank, Valley Bank, Merchants Bank Division and Signature Bank, has a maturity date of February 16, 2007 and provides for two 1 year renewal options. The line of credit is secured by mortgage receivables held by BRT and the maximum availability is contingent on the collateral posted from time to time. A complete copy of the revolving credit agreement and the secured promissory note will be filed as Exhibits to a Form 8-K that will be filed with the Securities and Exchange Commission to report the new credit line.
BRT Realty Trust is a mortgage REIT which originates first and second mortgage loans, short term bridge loans and participating loans. BRT’s financial resources, flexibility and expertise enable rapid turnaround on loan requests for income-producing retail, office, industrial and multifamily properties nationwide. Please visit BRT on the internet at www.brtrealty.com.
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: Mark H. Lundy, Vice President 516.773.2703
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
