NewsHK

BRT Apartments cuts credit spread by 40 basis points, resets buyback at $10 million

9/18/2026

In the apartment REIT sector, the discount rate embedded in a SOFR-linked credit facility is one of the cleaner signals of how lenders read near-term rate risk.

(NYSE: BRT), headquartered in Great Neck, New York, renegotiated those terms on September 17, 2026, filing an 8-K that disclosed a fourth amendment to its credit facility with VNB New York, LLC, cutting the spread by 40 basis points.

The amendment moves the rate from three-month term SOFR plus 250 basis points to SOFR plus 210 basis points. The minimum rate floor fell from 6% to 5%.

The adjustable cap rate applied to collateral valuation was trimmed to 6.25% from 6.5%.