BRT Apartments Corp. filed a Current Report on Form 8-K dated September 17, 2026, disclosing a material amendment to its credit facility and an update to its stock repurchase authorization.
The company entered into a fourth amendment to its Amended and Restated Loan Agreement with VNB New York, LLC. The amendment modifies the interest rate structure of the facility, reducing the rate to three-month term SOFR plus 210 basis points. Previously, the rate was three-month term SOFR plus 250 basis points. The amendment also lowered the minimum interest rate payable on the facility to 5% and adjusted the adjustable cap rate used to determine the value of assets securing the facility to 6.25%.
As of the date of the amendment, the company retains the ability to borrow up to $40 million under the facility.
In other business, the company’s board of directors authorized the replenishment of its stock repurchase program. The authorization increases the value of shares to be repurchased to $10 million.
