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BRT Apartments buys Texas multifamily property for $39M

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BRT Apartments buys Texas multifamily property for $39M

An entity in which BRT Apartments Corp. owns a 50% stake bought the 313-unit Gateway Oaks multifamily property in Forney, Texas, for $39.0 million.

The purchase price of the class A property included a $25.4 million nonrecourse mortgage debt that bears a 4.15% interest rate and matures in 2027.