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BRT Realty pays $35.2M for Texas multifamily asset

BRT Realty Trustpicked up a multifamily asset containing 288 units in San Antonio for $35.2 million.

As part of the acquisition, the company assumed $26.4 millionof mortgage debt, which is due in May 2023 and bears a 3.61% annual interest rate.

The company acquired the property May 6 via a joint venture inwhich it has a 65% preferred equity interest, according to an earnings release.