Multifamily residential real estate investment trust BRT Apartments Corp., through a 50%-owned entity, paid $77.3 million to purchase a 586-unit multifamily property in Lawrenceville, Ga., from an undisclosed seller.
The consideration for Madison at River Sound includes $54.4 million worth of mortgage debt, which was arranged in connection with the purchase.
BRT paid $15.2 million in equity for the purchase, funded through the remaining proceeds of The Fountains Apartments' sale.
