BRT Apartments amends VNB New York credit facility, cuts pricing to SOFR+210 bps
BRT•Borrowing capacity
Borrowing capacity stood at $40 million as of Sept. 17, 2026.
Collateral cap rate reduced
The adjustable cap rate used to value collateral was reduced to 6.25% from 6.5%.
Credit facility terms amended
BRT Apartments amended its Amended Credit Facility with VNB New York on Sept. 17, 2026, cutting pricing to three-month term SOFR + 210 bps.
The minimum interest rate was lowered to 5% from 6% under the revised facility terms.
