Form 8-K

8-K — BRT Apartments Corp.

Accession: 0000014846-26-000018

Filed: 2026-05-07

Period: 2026-05-07

CIK: 0000014846

SIC: 6798 (REAL ESTATE INVESTMENT TRUSTS)

Item: Results of Operations and Financial Condition

Item: Regulation FD Disclosure

Item: Financial Statements and Exhibits

Documents

8-K — brt-20260507.htm (Primary)

EX-99.1 (exhibit991q12026.htm)

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XML — IDEA: XBRL DOCUMENT (R1.htm)

8-K

8-K (Primary)

Filename: brt-20260507.htm · Sequence: 1

brt-20260507

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UNITED STATES

SECURITIES AND EXCHANGE COMMISSION

WASHINGTON, D.C. 20549

FORM 8-K

CURRENT REPORT

Pursuant to Section 13 or 15(d) of the

Securities Exchange Act of 1934

Date of Report (Date of earliest event reported): May 7, 2026

BRT APARTMENTS CORP.

(Exact name of Registrant as specified in charter)

Maryland 001-07172 13-2755856

(State or other jurisdiction of incorporation) (Commission file No.) (IRS Employer I.D. No.)

60 Cutter Mill Road, Suite 303, Great Neck, New York 11021

(Address of principal executive offices) (Zip code)

Registrant's telephone number, including area code: 516-466-3100

Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions (see General Instruction A.2. below):

☐ Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)

☐ Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)

☐ Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR

240.14d-2(b))

☐ Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR

240.13e-4(c)

Securities registered pursuant to Section 12(b) of the Act:

Title of each class Trading Symbol(s) Name of each exchange on which registered

Common Stock BRT NYSE

Indicate by check mark whether the registrant is an emerging growth company as defined in Rule 405 of the Securities Act of 1933 (§230.405) of this chapter) or Rule 12b-2 of the Securities Exchange Act of 1934 (§240.12b-2 of this chapter).

☐ Emerging growth company

If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act.

Item 2.02. Results of Operations and Financial Condition.

Item 7.01 Regulation FD Disclosure.

Certain of our executive officers will be meeting with analysts and other persons and may provide such persons with copies of, or discuss the information set forth in, the attached material.

Pursuant to, among other things, Regulation FD, we hereby furnish the information contained in the materials attached as Exhibit 99.1 to this Current Report on Form 8-K, which information is incorporated into these Items 2.02 and 7.01 (collectively, the “Item”) by this reference.

The information in this Current Report on Form 8-K under this Item, as well as Exhibit 99.1, shall not be deemed “filed” for the purposes of Section 18 of the Securities Exchange Act of 1934, as amended (the “Exchange Act”), or otherwise subject to the liabilities of that Section, nor shall it be deemed incorporated by reference in any filing under the Securities Act of 1933, as amended, or the Exchange Act, except as shall be expressly set forth by specific reference in such a filing. The furnishing of this Report is not intended to constitute a determination by us that the information is material or that the dissemination of the information is required by Regulation FD or otherwise.

Item 9.01 Financial Statements and Exhibits.

(d) Exhibits.

Exhibit No. Description

99.1

Supplemental Financial Information dated May 7, 2026

101 Cover Page Interactive Data File - the instance document does not appear in the Interactive Data File because its XBRL tags are embedded within the Inline XBRL document.

104 Cover Page Interactive Data File - the cover page XBRL tags are embedded within the Inline XBRL document

SIGNATURE

Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.

BRT APARTMENTS CORP.

May 7, 2026 By: /s/ Isaac Kalish

Isaac Kalish

Chief Financial Officer and Senior Vice President

(Principal Financial Officer)

EX-99.1

Filename: exhibit991q12026.htm · Sequence: 2

Document

Exhibit 99.1

SUPPLEMENTAL FINANCIAL

INFORMATION FOR THREE MONTHS ENDED

MARCH 31, 2026

May 7, 2026

60 Cutter Mill Rd., Great Neck, NY 11021

CAUTIONARY STATEMENT REGARDING FORWARD-LOOKING STATEMENTS

We consider some of the information set forth herein to contain forward-looking statements within the meaning of Section 27A of the Securities Act of 1933, as amended, or the Securities Act, and Section 21E of the Securities Exchange Act of 1934, as amended, or the Exchange Act, with respect to our expectations for future periods. Forward-looking statements do not discuss historical fact, but instead include statements related to expectations, projections, intentions or other items related to the future. Such forward-looking statements include, without limitation, statements regarding expected operating performance and results, property acquisition and disposition activity, joint venture activity, development and value add activity and other capital expenditures, and capital raising and financing activity, as well as revenue and expense growth, occupancy, interest rate and other economic expectations. Words such as “expects,” “anticipates,” “intends,” “plans,” “believes,” “seeks,” “estimates,” “forecasts,” “projects,” “assumes,” “will,” “may,” “could,” “should,” “budget,” “target,” “outlook,” “opportunity,” “guidance” and variations of such words and similar expressions are intended to identify such forward-looking statements. Such forward-looking statements involve known and unknown risks, uncertainties and other factors, which are in some cases, beyond our control, which may cause our actual results, performance or achievements to be materially different from the results of operations, financial conditions or plans expressed or implied by such forward-looking statements. Although we believe that the assumptions underlying the forward-looking statements contained herein are reasonable, any of the assumptions could be inaccurate, and therefore such forward-looking statements included in this report may not prove to be accurate. In light of the significant uncertainties inherent in the forward-looking statements included herein, the inclusion of such information should not be regarded as a representation by us or any other person that the results or conditions described in such statements or our objectives and plans will be achieved and investors are cautioned not to place undue reliance on such information.

The following factors, among others, could cause our actual results, performance or achievements to differ materially from those expressed or implied in the forward-looking statements:

•inability to generate sufficient cash flows due to unfavorable economic and market conditions (e.g., inflation, volatile interest rates and the possibility of a recession), changes in supply and/or demand, competition, uninsured losses, changes in tax and housing laws or other factors;

•adverse changes in real estate markets, including, but not limited to, the extent of future demand for multifamily units in our significant markets, barriers of entry into new markets which we may seek to enter in the future, limitations on our ability to maintain or increase rental or occupancy rates, competition, our ability to identify and consummate attractive acquisitions and dispositions on favorable terms, and our ability to reinvest sale proceeds in a manner that generates favorable returns;

•general and local real estate conditions, including any changes in the value of our real estate;

•decreasing rental rates or increasing vacancy rates;

•challenges in acquiring or investing in multifamily properties (including challenges in (i) buying properties directly without the participation of joint venture partners and (ii) making alternative investments in multifamily properties, and the limited number of multifamily property investment/acquisition opportunities available to us), which transactions may not be completed or may not produce the cash flows or income expected;

•the competitive environment in which we operate, including competition that could adversely affect our ability to acquire properties and/or limit our ability to lease apartments or increase or maintain rental rates;

•exposure to risks inherent in investments in a single industry and sector;

•the concentration of our multifamily properties in the Southeastern United States and Texas, which makes us more susceptible to adverse developments in those markets;

•increases in expenses over which we have limited control, such as real estate taxes, insurance and utilities, due to inflation or other factors such as the ongoing conflicts between (i) Ukraine and Russia and (ii) Israel / the United States of America and Iran;

•impairment in the value of real estate we own;

•failure of property managers to properly manage properties;

•accessibility of debt and equity capital markets;

•disagreements with, or misconduct by, joint venture partners;

•inability to obtain financing at favorable rates, if at all, or refinance existing debt as it matures due to the level and volatility of interest or capitalization rates or capital market conditions

•extreme weather and natural disasters such as hurricanes, tornadoes and floods;

•lack of or insufficient amounts of insurance to cover, among other things, losses from catastrophes;

•risks associated with acquiring value-add multifamily properties, which involves greater risks than more conservative approaches;

•the condition of Fannie Mae or Freddie Mac, which could adversely impact us;

•changes in Federal, state and local governmental laws and regulations, including laws and regulations relating to taxes and real estate and related investments;

•our failure to comply with laws, including those requiring access to our properties by disabled persons, which could result in substantial costs;

•board determinations as to timing and payment of dividends, if any, and our ability or willingness to pay future dividends;

•our ability to satisfy the complex rules required to maintain our qualification as a REIT for federal income tax purposes;

•possible environmental liabilities, including costs, fines or penalties that may be incurred due to necessary remediation of contamination of properties presently owned or previously owned by us or a subsidiary owned by us or acquired by us;

•our dependence on information systems, risks associated with breaches of such systems and the impact on us and our competitors from the use of artificial intelligence;

•disease outbreaks and other public health events, and measures that are taken by federal, state, and local governmental authorities in response to such outbreaks and events;

•impact of climate change on our properties or operations;

•risks associated with the stock ownership restrictions of the Internal Revenue Code of 1986, as amended (the "Code") for REITs and the stock ownership limit imposed by our charter; and

•the other factors described in our Annual Report on Form 10-K for the year ended December 31, 2025 (the "Annual Report") including those set forth in such report under the captions "Item 1. Business," "Item 1A. Risk Factors," and "Item 7. Management's Discussion and Analysis of Financial Condition and Results of Operations".

We undertake no obligation to update or revise the information herein, whether as a result of new information, future events or circumstances, or otherwise.

Units under rehabilitation for which we have received or accrued rental income from business interruption insurance, while not physically occupied, are treated as leased (i.e., occupied) at rental rates in effect at the time of the casualty.

We use pro rata (as defined under "Non-GAAP Financial Measures and Definitions") to help the reader gain a better understanding of our unconsolidated joint ventures. However, the use of pro rata information has certain limitations and is not representative of our operations and accounts as presented in accordance with GAAP. Accordingly, pro rata information should be used with caution and in conjunction with the GAAP data presented herein and in our reports filed with the SEC.

The state-by-state and property-by-property information for 2025 with respect to revenues, net operating income ("NOI") and weighted average monthly rent per occupied unit information has been reclassified (to reflect deferred rent concessions) to conform to the 2026 presentation.

Table of Contents Page Number

Quarterly Results

Financial Highlights

Components of Net Asset Value

Operating Results

Operating Results of Unconsolidated Properties

Funds From Operations and Adjusted Funds From Operations

Consolidated Balance Sheets

Preferred Equity Investments

Stock Repurchases

Value-Add Program and Capital Expenditures

Debt Analysis

Portfolio Data by State

Combined Portfolio Metrics

Portfolio Table

Appendix

Non-GAAP Financial Measure and Definitions

Consolidated Same Store Comparison

Unconsolidated Same Store Comparison

Non-GAAP Financial Measures, Definitions and Reconciliations

Balance Sheets of Unconsolidated Joint Venture Entities

Table of Contents

BRT Apartments Corp. (NYSE: BRT)

First Quarter 2026 and Subsequent Highlights

•Reported a net loss of $2.7 million or $0.14 per diluted share, in the first quarter of 2026, compared to a net loss of $2.4 million or $0.12 in the first quarter of 2025.

•Funds from Operations, or FFO, of $0.33 per diluted share, compared to $0.30 in the first quarter 2025.

•Adjusted Funds from Operations, or AFFO, of $0.39 per diluted share in the first quarter of 2026 and 2025.

•Equity in (loss) earnings of unconsolidated joint ventures was $(308,000) in the first quarter of 2026, compared to $413,000 in the first quarter 2025.

•Combined Portfolio NOI increased 4.0% for the first quarter of 2026 compared to the prior-year period.

•From January 1, 2026 through May 7, 2026, repurchased an aggregate of 318,593 shares of common stock at a weighted average purchase price of $14.14 per share. As of May 7, 2026, the Company is authorized to repurchase up to $6,609,702 shares of common stock through December 31, 2028.

•Maintained revolving credit facility of up to $40.0 million, with no outstanding balance as of May 7, 2026, and maturity in September 2027.

•Declared a dividend of $0.25 per share for the first quarter of 2026.

See the reconciliations provided later in this supplemental of FFO, AFFO and Combined Portfolio NOI, to net income, as calculated in accordance with GAAP, and the definitions of such terms under "Non-GAAP Financial Measures and Definitions."

Table of Contents

BRT Apartments Corp. (NYSE: BRT)

Financial Highlights

_________________________________________________________________________________________________________

As of March 31,

2026 2025

Market capitalization (thousands) $ 251,886 $ 321,572

Shares outstanding (thousands) 18,882 18,916

Closing share price $ 13.34 $ 17.00

Quarterly dividend declared per share $ 0.25 $ 0.25

Quarter ended March 31,

Combined Consolidated Unconsolidated

2026 2025 2026 2025 2026 2025

Properties owned 31 29 21 21 10 8

Units 8,311 7,947 5,420 5,420 2,891 2,527

Average occupancy (a) 93.9 % 94.4 % 94.5 % 93.7 % 92.6 % 93.7 %

Weighted average monthly rent per occupied unit (a) $ 1,426 $ 1,404 $ 1,386 $ 1,371 $ 1,503 $ 1,476

(a) 2025 periods exclude a 240-unit multi-family property in lease up.

Quarter ended March 31,

Per share data 2026

(Unaudited) 2025

(Unaudited)

Loss per share, basic and diluted $ (0.14) $ (0.12)

FFO per share of common stock (diluted) (1) $ 0.33 $ 0.30

AFFO per share of common stock (diluted) (1) $ 0.39 $ 0.39

As of March 31,

2026 2025

Debt to Enterprise Value (2) 75 % 67 %

(1) See the reconciliation of Funds From Operations, or FFO, and Adjusted Funds From Operations, or AFFO, to net income, as calculated in accordance with

GAAP, and the definitions of such terms under "Non-GAAP Financial Measures and Definitions."

(2) Enterprise Value is equal to debt plus market capitalization less cash and cash equivalents, including BRT's pro-rata share of cash and cash equivalents at the

unconsolidated Joint Ventures. Cash and cash equivalents excludes restricted cash. Debt is equal to 100% of the debt at the consolidated properties and BRT's

pro-rata share of debt at the unconsolidated joint ventures. See "Non-GAAP Financial Measures and Definitions" for an explanation of "pro-rata share."

Table of Contents

BRT Apartments Corp. (NYSE: BRT)

Components of Net Asset Value

As of March 31, 2026

(all in thousands)

____________________________________________________________________________________________________________________

Net Operating Income (1)

Consolidated $ 13,681

Unconsolidated (Pro rata) 3,554

Total Net Operating Income $ 17,235

OTHER ASSETS

Cash and Cash Equivalents 26,897

Cash and Cash Equivalents - Unconsolidated pro rata 4,043

Restricted Cash 2,098

Other Assets 15,423

Other Assets - Unconsolidated pro rata 4,752

Total Cash and Other Assets $ 53,213

OTHER LIABILITIES

Accounts Payable and Accrued Liabilities 21,864

Accounts Payable and Accrued Liabilities - Unconsolidated pro rata 3,150

Total Other Liabilities $ 25,014

DEBT SUMMARY

Mortgages Payable:

Consolidated 470,200

Unconsolidated (Pro rata) 143,693

Total Mortgages Payable $ 613,893

Credit Facility —

Subordinated Notes 37,188

Total Debt Outstanding $ 651,081

Common Shares Outstanding 18,882

____________________________________________

(1) See the Appendix for a reconciliation of the non-GAAP amounts presented to GAAP amounts

Table of Contents

BRT Apartments Corp. (NYSE: BRT)

Operating Results

(amounts in thousands except per share data)

_____________________________________________________________________________________________________________________

Three Months Ended March 31,

2026 2025

Revenues:

Rental and other revenue from real estate properties $ 24,170 $ 23,619

Loan interest and other income 435 487

Total revenues 24,605 24,106

Expenses:

Real estate operating expenses 10,489 10,550

Interest expense 5,960 5,676

General and administrative 3,867 4,070

Depreciation and amortization 6,683 6,541

Total expenses 26,999 26,837

Total revenues less total expenses (2,394) (2,731)

Equity in (loss) earnings of unconsolidated joint ventures (308) 413

Insurance recovery of casualty loss 136 68

Loss from continuing operations (2,566) (2,250)

Income tax provision 76 58

Loss from continuing operations, net of taxes (2,642) (2,308)

Net income attributable to non-controlling interests (40) (44)

Net loss attributable to common stockholders $ (2,682) $ (2,352)

Weighted average number of shares of common stock outstanding:

Basic and diluted 18,063,713 17,987,092

Per share amounts attributable to common stockholders:

Basic and diluted $ (0.14) $ (0.12)

Table of Contents

BRT Apartments Corp. (NYSE: BRT)

Operating Results of Unconsolidated Properties

(amounts in thousands)

_____________________________________________________________________________________________________________________

Three Months Ended March 31,

2026 2025

Revenues:

Rental and other revenue $ 13,432 $ 11,709

Total revenues 13,432 11,709

Expenses:

Real estate operating expenses 6,505 5,173

Interest expense 3,195 2,745

Depreciation 4,198 3,748

Total expenses 13,898 11,666

Total revenues less total expenses (466) 43

Other equity (loss) earnings (6) 90

Net (loss) income from joint ventures $ (472) $ 133

BRT equity in earnings of unconsolidated joint venture properties $ (308) $ 413

Table of Contents

BRT Apartments Corp. (NYSE: BRT)

Funds from Operations and

Adjusted Funds from Operations

(dollars in thousands)

____________________________________________________________________________________________________________________

The tables below provides a reconciliation of net loss determined in accordance with GAAP to FFO and AFFO on a dollar and per share basis for each of the indicated periods:

Three Months Ended March 31,

2026 2025

GAAP Net loss attributable to common stockholders $ (2,682) $ (2,352)

Add: depreciation and amortization of properties 6,683 6,541

Add: our share of depreciation in unconsolidated joint venture properties 2,246 1,533

Adjustments for non-controlling interests (4) (4)

NAREIT Funds from operations attributable to common stockholders $ 6,243 $ 5,718

Adjustments for: deferred rent concessions and straight line rent (189) 98

Adjustments for: our share of straight-line rent and rent concession accruals from

unconsolidated joint venture properties (31) (12)

Add: amortization of restricted stock and RSU expense 922 1,142

Add: amortization of deferred mortgage and debt costs 279 283

Add: our share of deferred mortgage costs from unconsolidated joint venture

properties 43 30

Add: amortization of fair value adjustment for mortgage debt 72 129

Adjustments for non-controlling interests — —

Adjusted funds from operations attributable to common stockholders $ 7,339 $ 7,388

Table of Contents

BRT Apartments Corp. (NYSE: BRT)

Funds from Operations and

Adjusted Funds from Operations

(dollars in thousands, except per share data)

____________________________________________________________________________________________________________________

Three Months Ended March 31,

2026 2025

GAAP Net loss attributable to common stockholders $ (0.14) $ (0.12)

Add: depreciation and amortization of properties 0.35 0.34

Add: our share of depreciation in unconsolidated joint venture properties 0.12 0.08

Adjustment for non-controlling interests — —

NAREIT Funds from operations per diluted common share $ 0.33 $ 0.30

Adjustments for: deferred rent concessions and straight line rent (0.01) 0.01

Adjustments for: our share of straight-line rent and rent concession accruals in

unconsolidated joint venture properties — —

Add: amortization of restricted stock and RSU expense 0.06 0.06

Add: amortization of deferred mortgage and debt costs 0.01 0.01

Add: our share of deferred mortgage and debt costs from unconsolidated joint

venture properties — —

Add: amortization of fair value adjustment for mortgage debt — 0.01

Adjustments for non-controlling interests — —

Adjusted funds from operations per diluted common share $ 0.39 $ 0.39

Diluted shares outstanding for FFO and AFFO 18,967,250 18,910,231

Table of Contents

BRT Apartments Corp. (NYSE: BRT)

Consolidated Balance Sheets

(amounts in thousands, except per share amounts)

_____________________________________________________________________________________________________________________

March 31, 2026 December 31, 2025

(unaudited) (audited)

ASSETS

Real estate properties, net of accumulated depreciation and amortization $ 591,488 $ 596,814

Investment in unconsolidated joint ventures 44,765 46,121

Loan receivables, net of deferred fees and allowance for credit loss 17,738 17,723

Cash and cash equivalents 26,897 25,138

Restricted cash 2,098 2,521

Other assets 15,423 21,496

Total Assets $ 698,409 $ 709,813

LIABILITIES AND EQUITY

Liabilities:

Mortgages payable, net of deferred costs $ 470,200 $ 471,083

Junior subordinated notes, net of deferred costs 37,188 37,183

Credit facility, net of deferred costs — —

Accounts payable and accrued liabilities 21,864 24,347

Total Liabilities 529,252 532,613

Commitments and contingencies

Equity:

BRT Apartments Corp. stockholders' equity:

Preferred shares $.01 par value 2,000 shares authorized, none issued — —

Common stock, $.01 par value, 300,000 shares authorized; 18,003 and 17,919 shares outstanding

180 180

Additional paid-in capital 274,794 275,408

Accumulated deficit (105,755) (98,346)

Total BRT Apartments Corp. stockholders’ equity 169,219 177,242

Non-controlling interests (62) (42)

Total Equity 169,157 177,200

Total Liabilities and Equity $ 698,409 $ 709,813

Table of Contents

BRT Apartments Corp. (NYSE: BRT)

Preferred Equity Investments

(dollars in thousands)

________________________________________________________________________________________

The Company invested in two separate joint ventures which in turn acquired multifamily properties in the locations identified below. In accordance with GAAP, these investments are treated as loans. These investments are unsecured and are subordinate, including the payment of the returns thereon, to the mortgage debt encumbering the property acquired by the applicable joint venture. Information as to these investments at March 31, 2026 and for the nine months ended March 31, 2026 is summarized below:

Location Investment Date Annual Return Current Return Hurdle Return Invested Amount Redemption Date Deferred fees Estimated Credit Loss Interest Income

(Current Return)

Wilmington, NC October 2024 13 % 6.00 % 7.00 % $ 7,000 November 2031 $ (110) $ 110 $ 115

Kennesaw, GA November 2024 13 % 6.50 % 6.50 % 11,250 June 2029 (127) 165 198

$ 18,250 $ (237) $ 275 $ 313

These investments provide for the Company to receive the following: (1) an Annual Return (as noted in the table above) compounded monthly, to the Company, of which (a) the Current Return (as noted in the table above) is payable monthly to the extent of available cash flow, and (b) the Hurdle Return (as noted in the table above) is to be paid monthly from remaining cash flow if any, parri passu or after the sponsor's receipt of its management fees and specified returns on its investment and (2) the total amount invested by the Company, including any unpaid portion of the Current Return and the Hurdle Return, to be payable to the Company, prior to any payments to the sponsor, upon the earlier to occur of certain events (e.g., sale of the property or the refinancing of the mortgage underlying the property) and the redemption date specified above. The Current Return is recorded as interest income when it is due from the sponsor and the Hurdle Return is recognized as interest income when it is received. Deferred loan fees are capitalized and recorded into income over the life of the investment. The Company's exposure to loss is limited to its original Invested Amount (as noted in the table above).

Table of Contents

BRT Apartments Corp. (NYSE: BRT)

Stock Repurchase Activity

________________________________________________________________________________________

The Company's stock repurchase activity during the periods indicated is reflected in the table below:

Month Shares repurchased Total cost Average Cost Per Share

January 2026 75,155 $1,113,550 $14.82

February 2026 — — —

March 2026 100,993 1,398,402 $13.85

Q1 2026 repurchase activity 176,148 $2,511,952 $14.26

On March 11, 2026, the Board of Directors replenished the value of the shares available to be purchased pursuant to this program to $10,000,000 of shares (a replenishment of $4,963,000 shares from the shares that were available to be repurchased prior to such increase) and extended the program through December 31, 2028.

Subsequent to March 31, 2026, the Company repurchased 142,445 shares of our common stock at an average price of $13.98 per share for an aggregate cost of $1,992,000. At April 30, 2026, the Company is authorized to repurchase $6,610,000 shares of stock.

Table of Contents

BRT Apartments Corp. (NYSE: BRT)

Value-Add Program and Capital Expenditures

Quarter ended March 31, 2026

________________________________________________________________________________________

Value-Add Program

(Includes consolidated and unconsolidated amounts)

Units Rehabilitated (1) Estimated Rehab Costs (2) Estimated Rehab Costs Per unit Estimated Average Monthly Rent Increase (3) Estimated Annualized ROI (3) Estimated units available to be renovated over next 24 months

24 $ 127,000 $ 7,300 $ 91 15% 154

(1) Refers to rehabilitated units with respect to which a new lease or renewal lease was entered into during the period.

(2) Reflects rehab costs incurred during the current and prior periods with respect to units completed, in which a new lease or renewal lease was entered into

during the current period.

(3) These results are not necessarily indicative of the results that would be generated if such improvements were made across our portfolio of properties or at any

particular property. Rents at a property may increase for reasons wholly unrelated to property improvements, such as changes in demand for rental units in a

particular market or sub-market. Even if units are available to be renovated, the Company may decide not to renovate such units.

Capital Expenditures

(Includes consolidated and unconsolidated amounts)

Gross Capital Expenditures Less: JV Partner Share BRT Share of Capital Expenditures (4)

Estimated Recurring Capital Expenditures (1) $ 1,888,000 $ 250,000 $ 1,638,000

Estimated Non-Recurring Capital Expenditures (2) 675,000 23,000 652,000

Total Capital Expenditures $ 2,563,000 $ 273,000 $ 2,290,000

Replacements (operating expense) (3) $ 683,960 $ 62,566 $ 621,394

Estimated Recurring Capital Expenditures and

Replacements per unit (8,311 units) $ 309 $ 37 $ 272

(1) Recurring capital expenditures represent our estimate of expenditures incurred at the property to maintain the property's existing operations - it excludes

revenue enhancing projects.

(2) Non-recurring capital expenditures represent our estimate of significant improvements to the common areas, property exteriors, or interior units of the

property, and revenue enhancing upgrades.

(3) Replacements are expensed and not capitalized as incurred at the property.

(4) Based on BRT's percentage equity interest.

Table of Contents

BRT Apartments Corp. (NYSE: BRT)

Debt Analysis

As of March 31, 2026

(dollars in thousands)

________________________________________________________________________________________________________________________________

Consolidated

Year

Total Principal Payments Scheduled Amortization Principal Payments Due at Maturity Percent of Total Principal Payments Due At Maturity Weighted Average Interest Rate (1)

2026 $ 30,858 $ 3,198 $ 27,660 6 % 3.73 %

2027 46,190 3,395 42,795 10 % 3.96 %

2028 40,697 2,746 37,951 9 % 4.47 %

2029 56,271 1,881 54,390 12 % 3.94 %

2030 22,432 1,167 21,265 5 % 4.71 %

Thereafter 278,126 18,770 259,356 58 % 4.34 %

Total $ 474,574 $ 31,157 $ 443,417 100 %

Unconsolidated (BRT pro rata share)

Year Total Principal Payments Scheduled Amortization Principal Payments Due at Maturity Percent of Total Principal Payments Due At Maturity Weighted Average Interest Rate (1)

2026 $ 25,092 $ 1,046 24,046 17 % 4.47 %

2027 12,788 1,234 $ 11,554 8 % 4.15 %

2028 34,252 928 33,324 24 % 4.26 %

2029 626 626 — — % — %

2030 678 678 — — % — %

Thereafter 70,914 158 70,756 51 % 3.85 %

Total $ 144,350 $ 4,670 $ 139,680 100 %

Combined (2)

Year Total Principal Payments Scheduled Amortization Principal Payments Due at Maturity Percent of Total Principal Payments Due At Maturity Weighted Average Interest Rate (1)

2026 $ 55,950 $ 4,244 $ 51,706 9 % — %

2027 58,978 4,629 54,349 9 % 4.25 %

2028 74,949 3,674 71,275 12 % 4.00 %

2029 56,897 2,507 54,390 9 % 4.37 %

2030 23,110 1,845 21,265 4 % 3.94 %

Thereafter 349,040 18,928 330,112 56 % 4.09 %

Total $ 618,924 $ 35,827 $ 583,097 99 %

Weighted Average Remaining Term to Maturity (2) 5.49 years

Weighted Average Interest Rate (2) 4.18 %

Debt Service Coverage Ratio for the quarter ended March 31, 2026 (3)

1.58

(1) Based on principal payments due at maturity.

(2) Includes consolidated and BRT's pro rata share of unconsolidated amounts.

(3) See definition under "Non-GAAP Financial Measures and Definitions." Includes consolidated and 100%

of the unconsolidated amounts.

Junior Subordinated Notes

Principal Balance $37,400, excluding deferred costs of $212

Interest Rate 3 month term SOFR + 2.26% (i.e., 5.94% at 3/31/2026)

Maturity April 30, 2036

Credit Facility

Maximum Amount Available Up to $40,000

Amount Outstanding $0

Interest Rate 1 month SOFR + 2.50% (floor of 6%) (i.e., 6.18% at 3/31/2026)

Maturity September 2027

Table of Contents

BRT Apartments Corp. (NYSE: BRT)

Portfolio Data by State

Quarter ended March 31, 2026

(dollars in thousands, except monthly rent amounts)

_____________________________________________________________________________________________________________________

Consolidated

Units at period end Number of Properties Revenues Property Operating Expenses NOI (1) % of NOI Contribution Weighted Average Occupancy Weighted Average Rent per Occ. Unit

Georgia 688 3 $ 2,617 $ 1,352 $ 1,265 9.2% 91.3% $ 1,221

Florida 518 2 2,358 1,058 1,300 9.5% 96.0% 1,455

Texas 600 3 2,167 1,196 971 7.1% 88.6% 1,141

Ohio 264 1 1,028 486 542 4.0% 94.4% 1,218

Virginia 220 1 1,336 524 812 5.9% 96.2% 1,812

North Carolina 264 1 1,075 380 695 5.1% 95.8% 1,271

South Carolina 474 2 2,237 1,141 1,096 8.0% 93.3% 1,494

Tennessee 702 2 3,740 1,448 2,292 16.8% 96.0% 1,724

Alabama 740 3 2,912 1,251 1,661 12.1% 96.2% 1,206

Mississippi 776 2 3,351 1,081 2,270 16.6% 97.6% 1,370

Missouri 174 1 943 453 490 3.6% 96.0% 1,658

Legacy assets — — 406 119 287 2.1% N/A N/A

Totals 5,420 21 $ 24,170 $ 10,489 $ 13,681 100% 94.5% $ 1,386

Unconsolidated (Pro-Rata Share)

Units at period end Number of Properties Revenues Property Operating Expenses NOI (1) % of NOI Contribution Weighted Average Occupancy Weighted Average Rent per Occ. Unit

Texas 1,103 3 $ 2,537 $ 1,329 $ 1,208 34.0% 93.1% $ 1,430

South Carolina 953 3 1,598 650 948 26.7% 92.2% 1,704

Georgia 421 2 1,407 765 642 18.1% 92.0% 1,426

Alabama 414 2 1,346 590 756 21.3% 92.8% 1,317

Totals 2,891 10 $ 6,888 $ 3,334 $ 3,554 100% 92.6% $ 1,503

__________________________________________________________________________

(1) See the reconciliation of NOI to net income, as calculated in accordance with GAAP, and the definition of NOI and pro-rata share under "Non-GAAP Financial Measures and Definitions."

Table of Contents

BRT Apartments Corp. (NYSE: BRT)

Combined Portfolio Metrics (1)

Quarters ended March 31, 2026 and 2025

(dollars in thousands)

_____________________________________________________________________________________________________________________

Three Months Ended March 31,

2026 2025 % Change

Combined Revenues $ 29,229 $ 28,647 2.0 %

Combined Operating Expenses

Payroll $ 2,313 $ 2,479 (6.7) %

Real Estate taxes 3,516 3,506 0.3 %

Management Fees 809 805 0.5 %

Insurance 1,078 1,195 (9.8) %

Utilities 1,860 1,867 (0.4) %

Repairs and Maintenance 1,564 1,447 8.1 %

Replacements 589 549 7.3 %

Advertising, Leasing and Other 1,223 1,142 7.1 %

Total Combined Operating Expenses $ 12,952 $ 12,990 (0.3) %

Total Combined Operating Income $ 16,277 $ 15,657 3.96 %

______________________________________________________

(1) Please refer to Non-GAAP Financial Measures, Definitions and Reconciliations for definition of Combined Same Store and reconciliation of Net Operating

Income. Combined portfolio refers to the consolidated same store properties, the unconsolidated same store properties presented on a pro rata share basis, for all periods presented, with a total of 7,707 units, excluding a 240-unit multi-family property in lease up.

Table of Contents

BRT Apartments Corp. (NYSE: BRT)

Portfolio Table

As of March 31, 2026

___________________________________________________________________________________________

Property City State Year Built Year Acquired Property Age Units Q1 2026 Avg. Occupancy Q1 2026 Avg. Rent per Occ. Unit

Consolidated Properties - All 100% Owned

Silvana Oaks North Charleston SC 2010 2012 16 208 94.9% $ 1,577

Avondale Station Decatur GA 1954 2012 72 212 90.9% 1,415

Newbridge Commons Columbus OH 1999 2013 27 264 94.4% 1,218

Brixworth at Bridgestreet Huntsville AL 1985 2013 41 208 95.4% 1,024

Avalon Pensacola FL 2008 2014 18 276 96.4% 1,422

Crossings of Bellevue Nashville TN 1985 2014 41 300 97.7% 1,430

Parkway Grande San Marcos TX 2014 2015 12 192 89.2% 1,157

Woodland Trails LaGrange GA 2010 2015 16 236 95.2% 1,296

Kilburn Crossing Fredericksburg VA 2005 2016 21 220 96.2% 1,812

Verandas at Alamo Ranch San Antonio TX 2015 2016 11 288 86.9% 1,103

Grove at River Place Macon GA 1988 2016 38 240 87.9% 965

Civic Center 1 Southaven MS 2002 2016 24 392 97.9% 1,328

Civic Center 2 Southaven MS 2005 2016 21 384 97.2% 1,412

Vanguard Heights Creve Coeur MO 2016 2017 10 174 96.0% 1,658

Jackson Square Tallahassee FL 1996 2017 30 242 95.6% 1,492

Woodland Apartments Boerne TX 2007 2017 19 120 91.4% 1,201

Magnolia Pointe Madison AL 1991 2017 35 204 95.4% 1,195

Bells Bluff W. Nashville TN 2019 2018 7 402 94.8% 1,949

Crestmont at Thornblade Greenville SC 1998 2018 28 266 93.1% 1,428

Somerset at Trussville Trussville AL 2007 2019 19 328 97.2% 1,325

Abbotts Run Wilmington NC 2001 2020 25 264 95.8% 1,271

Weighted Avg./Total Consolidated 25 5,420

Properties owned by Unconsolidated Joint Ventures % Ownership

Pointe at Lenox Park Atlanta GA 1989 2016 37 271 92.9% 1,502 74 %

Gateway Oaks Forney TX 2016 2016 10 313 94.7% 1,285 50 %

Mercer Crossing Dallas TX 2015 2017 11 509 93.2% 1,599 50 %

Canalside Lofts Columbia SC 2008 2017 18 374 90.8% 1,471 32 %

Landings of Carrier Parkway Grand Prairie TX 2001 2018 25 281 91.0% 1,284 50 %

Canalside Sola Columbia SC 2015 2018 11 339 95.4% 1,730 46 %

The Village at Lakeside Auburn AL 1988 2019 38 200 97.5% 1,293 80 %

Stono Oaks Johns Island SC 2024 2022 2 240 89.7% 2,033 18 %

1322 North Auburn AL 2002 2025 24 214 88.4% 1,341 80 %

Oaks at Victory Savannah GA 1968 2025 58 150 90.5% 1,286 80 %

Weighted Avg./Total Unconsolidated 20 2,891

Weighted Avg./Total Portfolio 23 8,311

Table of Contents

BRT Apartments Corp. (NYSE: BRT)

APPENDIX

Table of Contents

BRT Apartments Corp. (NYSE: BRT)

NON-GAAP FINANCIAL MEASURES, DEFINITIONS, AND RECONCILIATIONS

(dollars in thousands)

________________________________________________________________________________________

Adjusted Funds from Operations (AFFO)

BRT computes AFFO by adjusting FFO for loss on extinguishment of debt, our straight-line rent and rent concession accruals, restricted stock and RSU compensation expense, fair value adjustment of mortgage debt, gain on insurance recovery, insurance recovery from casualty loss and deferred mortgage and debt costs (including, in each case as applicable, from its share of its unconsolidated joint ventures). Since the NAREIT White Paper(as described below) does not provide guidelines for computing AFFO, the computation of AFFO may vary from one REIT to another.

Combined Portfolio

Combined portfolio refers to the consolidated same store properties, the unconsolidated same store properties presented on a pro rata share basis.

Debt Service Coverage Ratio

Debt service coverage ratio is net operating income ("NOI") divided by total debt service and includes both consolidated and unconsolidated assets.

Funds from Operations (FFO)

BRT computes FFO in accordance with the “White Paper on Funds from Operations” issued by the National Association of Real Estate Investment Trusts (“NAREIT”) and NAREIT's related guidance. FFO is defined in the White Paper as net income (calculated in accordance with generally accepted accounting principles). NOI is defined as "Rental and other revenue from real estate properties" as presented on our statements of operations less "Real estate operating expenses" as presented on our statements of operations. Real estate operating expenses include real estate taxes, insurance, property management expense, utilities, repairs and maintenance, administrative and marketing. Other REIT’s may use different methodologies for calculating NOI, and accordingly, our NOI may not be comparable to other REIT’s. We believe NOI provides an operating perspective not immediately apparent from GAAP operating income or net income (loss). NOI is one of the measures we use to evaluate our performance because it (i) measures the core operations of property performance by excluding corporate level expenses and other items unrelated to property operating performance and (ii) captures trends in rental housing and property operating expenses. However, NOI should only be used as an alternative measure of our financial performance.

Net Operating Income (NOI)

BRT computes NOI by adjusting net income (loss) to (a) add back (1) depreciation expense, (2) general and administrative expenses, (3) interest expense, (4) loss on extinguishment of debt, (5) equity in earnings (loss) of unconsolidated joint ventures, (6) provision for taxes, and (7) the impact of non-controlling interests, and (b) deduct (1) other income, (2) gain on sale of real estate (3) insurance recovery of casualty loss, and (4) gain on insurance recoveries related to casualty loss.

Pro-Rata Share

BRT's pro-rata share gives effect to its percentage equity interest in the unconsolidated joint ventures that own properties. Due to the operation of allocation/distribution provision of the joint venture agreements pursuant to which BRT participates in the ownership of these properties, BRT's share of the gain and loss on the sale of a property may be less than implied by BRT's percentage equity interest. Notwithstanding the foregoing, when referring to the number of units, average occupancy, and average rent per unit, the amount shown reflects 100% of the amount.

Same Store

Same store properties refer to stabilized properties (as described below) that we owned and operated for the entirety of periods being compared, except for properties that are under construction, legacy assets, in lease-up, or are undergoing development or redevelopment. We move properties previously excluded from our same store portfolio (because they were under construction, in lease up or are in development or redevelopment) into the same store designation once they have stabilized and such status has been reflected fully in all applicable periods of comparison.

Stabilized Properties

Newly constructed, lease-up, development and redevelopment properties are deemed stabilized upon the earlier to occur of the first full calendar quarter beginning (a) 12 months after the property is fully completed and put in service and (b) attainment of at least 90% physical occupancy.

Total Debt Service

Total debt service is the cash required to cover the repayment of interest and principal on a debt for a particular period. Total debt service is used in the calculation of the debt service coverage ratio which is used to determine the borrower’s ability to make debt service payments.

Table of Contents

BRT Apartments Corp. (NYSE: BRT)

Consolidated Same Store Comparisons (1)(3)

Quarters ended March 31, 2026 and 2025

(dollars in thousands, except monthly rent amounts)

_____________________________________________________________________________________________________________________

Revenues (4) Property Operating Expenses NOI (2) (4)

Units 2026 2025 % Change 2026 2025 % Change 2026 2025 % Change

Georgia 688 $ 2,617 $ 2,617 0.0 % $ 1,352 $ 1,309 3.3 % $ 1,265 $ 1,308 (3.3) %

Florida 518 2,358 2,401 (1.8) % 1,058 1,057 0.1 % 1,300 1,344 (3.3) %

Texas 600 2,167 2,293 (5.5) % 1,196 1,233 (3.0) % 971 1,060 (8.4) %

Ohio 264 1,028 1,001 2.7 % 486 441 10.2 % 542 560 (3.2) %

Virginia 220 1,336 1,274 4.9 % 524 510 2.7 % 812 764 6.3 %

North Carolina 264 1,075 1,096 (1.9) % 380 424 (10.4) % 695 672 3.4 %

South Carolina 474 2,237 2,204 1.5 % 1,141 1,143 (0.2) % 1,096 1,061 3.3 %

Tennessee 702 3,740 3,395 10.2 % 1,448 1,422 1.8 % 2,292 1,973 16.2 %

Alabama 740 2,912 2,825 3.1 % 1,251 1,311 (4.6) % 1,661 1,514 9.7 %

Mississippi 776 3,351 3,157 6.1 % 1,081 1,120 (3.5) % 2,270 2,037 11.4 %

Missouri 174 943 922 2.3 % 453 468 (3.2) % 490 454 7.9 %

Totals 5,420 $ 23,764 $ 23,185 2.5 % $ 10,370 $ 10,438 (0.7) % $ 13,394 $ 12,747 5.1 %

Weighted Average Occupancy Weighted Average Monthly Rent per Occupied Unit (4)

2026 2025 % Change 2026 2025 % Change

Georgia 91.3 % 89.1 % 2.5 % $ 1,221 $ 1,240 (1.5) %

Florida 96.0 % 95.3 % 0.7 % 1,455 1,484 (2.0) %

Texas 88.6 % 92.2 % (3.9) % 1,141 1,181 (3.4) %

Ohio 94.4 % 96.2 % (1.9) % 1,218 1,180 3.2 %

Virginia 96.2 % 97.9 % (1.7) % 1,812 1,759 3.0 %

North Carolina 95.8 % 97.2 % (1.4) % 1,271 1,301 (2.3) %

South Carolina 93.8 % 93.1 % 0.8 % 1,494 1,469 1.7 %

Tennessee 96.0 % 94.1 % 2.0 % 1,724 1,576 9.4 %

Alabama 96.2 % 94.6 % 1.7 % 1,206 1,199 0.6 %

Mississippi 97.6 % 93.6 % 4.3 % 1,370 1,335 2.6 %

Missouri 96.0 % 93.0 % 3.2 % 1,658 1,674 (1.0) %

Weighted Average 94.6 % 93.7 % 1.0 % $ 1,386 $ 1,365 1.5 %

____________________________________________

(1) See definition of Same Store under "Non-GAAP Financial Measures and Definitions"

(2) See the reconciliation of NOI to net income, as calculated in accordance with GAAP, and the definition of NOI under "Non-GAAP Financial Measures and

Definitions."

(3) Excludes legacy assets

(4) The revenues, NOI and weighted average monthly rent per occupied unit information for 2025 has been reclassified (to reflect deferred rent concessions) to conform to the 2026 presentation.

Table of Contents

BRT Apartments Corp. (NYSE: BRT)

Unconsolidated Same Store Comparisons (1)

Quarters ended March 31, 2026 and 2025

BRT Pro-rata Share

(dollars in thousands, except monthly rent amounts)

________________________________________________________________________________________

Revenues (3) Property Operating Expenses NOI (2)

Units 2026 2025 % Change 2026 2025 % Change 2026 2025 % Change

Texas 1,103 $ 2,537 $ 2,565 (1.1) % $ 1,329 $ 1,292 2.9 % $ 1,208 $ 1,273 (5.1) %

South Carolina 713 1,352 1,353 (0.1) % 513 485 5.8 % 839 868 (3.3) %

Georgia 271 920 922 (0.2) % 475 477 (0.4) % 445 445 0.0 %

Alabama 200 656 622 5.5 % 265 298 (11.1) % 391 324 20.7 %

Totals 2,287 $ 5,465 $ 5,462 0.1 % $ 2,582 $ 2,552 1.2 % $ 2,883 $ 2,910 (0.9) %

Weighted Average Occupancy Weighted Average Monthly Rent per Occupied Unit

2026 2025 % Change 2026 2025 % Change

Texas 93.1 % 93.2 % (0.1) % $ 1,430 $ 1,461 (2.1) %

South Carolina 93.0 % 95.0 % (2.1) % 1,597 1,575 1.4 %

Georgia 92.9 % 90.5 % 2.7 % 1,502 1,515 (0.9) %

Alabama 97.5 % 96.3 % 1.2 % 1,293 1,227 5.4 %

Weighted Average 93.4 % 93.7 % (0.3) % $ 1,478 $ 1,482 (0.3) %

_____________________________________

(1) See definition of Same Store under "Non-GAAP Financial Measures and Definitions"

(2) See the reconciliation of NOI to net income, as calculated in accordance with GAAP, and the definition of NOI and pro-rata share under "Non-GAAP Financial

Measures and Definitions."

(3) The revenues, NOI and weighted average monthly rent per occupied unit information for 2025 has been reclassified (to reflect deferred rent concessions) to conform to the 2026 presentation.

Table of Contents

BRT Apartments Corp. (NYSE: BRT)

NON-GAAP FINANCIAL MEASURES, DEFINITIONS AND RECONCILIATIONS

(dollars in thousands)

________________________________________________________________________________________

The following tables provides a reconciliation of NOI to net income attributable to common stockholders as computed in accordance with GAAP for the periods presented for the consolidated properties:

Consolidated Three Months Ended March 31,

2026 2025

GAAP Net loss attributable to common stockholders $ (2,682) $ (2,352)

Less: Loan interest and other income (435) (487)

Add: Interest expense 5,960 5,676

General and administrative 3,867 4,070

Depreciation and amortization 6,683 6,541

Provision for taxes 76 58

Less: Insurance recoveries (136) (68)

Adjust for: Equity in loss (earnings) of unconsolidated joint venture properties 308 (413)

Add: Net income attributable to non-controlling interests 40 44

Net Operating Income $ 13,681 $ 13,069

Less: Non-same store Net Operating Income 287 322

Same store Net Operating Income $ 13,394 $ 12,747

BRT Apartments Corp. (NYSE: BRT)

NON-GAAP FINANCIAL MEASURES, DEFINITIONS, AND RECONCILIATIONS

(dollars in thousands)

________________________________________________________________________________________

The following tables provides a reconciliation of BRT's Equity in earnings from NOI to net income attributable to common stockholders as computed in accordance with GAAP for the periods presented for BRT's pro rata share of the unconsolidated properties:

Unconsolidated Three Months Ended March 31,

2026 2025

BRT equity in (loss) earnings from joint ventures $ (308) $ 413

Add: Interest expense 1,610 1,194

Depreciation 2,246 1,533

Less Equity in loss (earnings) of joint ventures 6 (90)

Net Operating Income $ 3,554 $ 3,050

Less: Non-same store Net Operating Income $ 671 $ 140

Same store Net Operating Income $ 2,883 $ 2,910

Consolidated same store Net Operating Income $ 13,394 $ 12,747

Unconsolidated same store Net Operating Income 2,883 2,910

Combined same store Net Operating Income $ 16,277 $ 15,657

Table of Contents

BRT Apartments Corp. (NYSE: BRT)

NON-GAAP FINANCIAL MEASURES, DEFINITIONS, AND RECONCILIATIONS

(dollars in thousands)

_____________________________________________________________________________________________________________________

The condensed income statements for the unconsolidated properties below, present, for the periods indicated, a reconciliation of the information that appears in note 7 to the consolidated financial statements included in BRT's Quarterly Report on Form 10-Q for the period ended March 31, 2026 to the BRT pro-rata information presented below:

Three Months Ended March 31, 2026

Total BRT's Pro Rata Share Partner Share

Revenues:

Rental and other revenue $ 13,432 $ 6,888 $ 6,544

Total revenues 13,432 6,888 6,544

Expenses:

Real estate operating expenses 6,505 3,334 3,171

Interest expense 3,195 1,610 1,585

Depreciation 4,198 2,246 1,952

Total expenses 13,898 7,190 6,708

Total revenues less total expenses (466) (302) (164)

Other equity earnings (6) (6) —

Net loss $ (472) (308) $ (164)

Three Months Ended March 31, 2025

Total BRT's Pro Rata Share Partner Share

Revenues:

Rental and other revenue $ 11,709 $ 5,658 $ 6,051

Total revenues 11,709 5,658 6,051

Expenses:

Real estate operating expenses 5,173 2,608 2,565

Interest expense 2,745 1,194 1,551

Depreciation 3,748 1,533 2,215

Total expenses 11,666 5,335 6,331

Total revenues less total expenses 43 323 (280)

Other equity earnings 90 90 —

Net income $ 133 $ 413 $ (280)

Table of Contents

BRT Apartments Corp. (NYSE: BRT)

Balance Sheets of Unconsolidated Joint Venture Entities

(dollars in thousands)

_____________________________________________________________________________________________________________________

At March 31, 2026, the Company held interests in unconsolidated joint ventures that own 10 multi-family properties (the "Unconsolidated Properties"). The condensed balance sheet below present information regarding such properties:

March 31, 2026

TOTAL BRT's Pro Rata Share Partner Share

ASSETS

Real estate properties, net of accumulated depreciation $ 361,016 $ 182,444 $ 178,572

Cash and cash equivalents 7,166 4,043 3,123

Other assets 8,555 4,752 3,803

Total Assets $ 376,737 $ 191,239 $ 185,498

LIABILITIES AND EQUITY

Liabilities:

Mortgages payable, net of deferred costs 284,626 143,693 140,933

Accounts payable and accrued liabilities 6,581 3,150 3,431

Total Liabilities 291,207 146,843 144,364

Commitments and contingencies

Equity:

Total unconsolidated joint venture equity 85,530 44,396 41,134

Total Liabilities and Equity $ 376,737 $ 191,239 $ 185,498

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Boolean flag that is true when the Form 8-K filing is intended to satisfy the filing obligation of the registrant as pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act.

+ References

Reference 1: http://www.xbrl.org/2003/role/presentationRef

-Publisher SEC

-Name Exchange Act

-Number 240

-Section 13e

-Subsection 4c

+ Details

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Balance Type:

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- Definition

Boolean flag that is true when the Form 8-K filing is intended to satisfy the filing obligation of the registrant as pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act.

+ References

Reference 1: http://www.xbrl.org/2003/role/presentationRef

-Publisher SEC

-Name Exchange Act

-Number 240

-Section 14d

-Subsection 2b

+ Details

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Namespace Prefix:

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- Definition

Title of a 12(b) registered security.

+ References

Reference 1: http://www.xbrl.org/2003/role/presentationRef

-Publisher SEC

-Name Exchange Act

-Number 240

-Section 12

-Subsection b

+ Details

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Data Type:

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- Definition

Name of the Exchange on which a security is registered.

+ References

Reference 1: http://www.xbrl.org/2003/role/presentationRef

-Publisher SEC

-Name Exchange Act

-Number 240

-Section 12

-Subsection d1-1

+ Details

Name:

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Namespace Prefix:

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Data Type:

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Balance Type:

Period Type:

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- Definition

Boolean flag that is true when the Form 8-K filing is intended to satisfy the filing obligation of the registrant as soliciting material pursuant to Rule 14a-12 under the Exchange Act.

+ References

Reference 1: http://www.xbrl.org/2003/role/presentationRef

-Publisher SEC

-Name Exchange Act

-Number 240

-Section 14a

-Subsection 12

+ Details

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Namespace Prefix:

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- Definition

Trading symbol of an instrument as listed on an exchange.

+ References

No definition available.

+ Details

Name:

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Namespace Prefix:

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Data Type:

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Balance Type:

Period Type:

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- Definition

Boolean flag that is true when the Form 8-K filing is intended to satisfy the filing obligation of the registrant as written communications pursuant to Rule 425 under the Securities Act.

+ References

Reference 1: http://www.xbrl.org/2003/role/presentationRef

-Publisher SEC

-Name Securities Act

-Number 230

-Section 425

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