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Investment in Unconsolidated Ventures (Tables)

9 Months Ended

Sep. 30, 2025

Equity Method Investments and Joint Ventures [Abstract]

Schedule of Equity Method Investments

The condensed balance sheets below present information regarding such properties (dollars in thousands):

						September 30, 2025						December 31, 2024
ASSETS
Real estate properties, net of accumulated depreciation of $92,124 and $81,843						$	366,408					$	318,594
Cash and cash equivalents						5,491						5,549
Other assets						15,612						5,567
Total Assets						$	387,511					$	329,710
LIABILITIES AND EQUITY
Liabilities:
Mortgages payable, net of deferred costs of $1,123 and $837						$	286,193					$	251,112
Accounts payable and accrued liabilities						9,442						5,148
Total Liabilities						295,635						256,260
Commitments and contingencies
Equity:
Total unconsolidated joint venture equity						91,876						73,450
Total Liabilities and Equity						$	387,511					$	329,710
BRT's interest in joint venture equity						$	48,169					$	31,344

The condensed income statements below present information regarding the Unconsolidated Properties (dollars in thousands):

						Three Months Ended September 30,												Nine Months Ended September 30,
						2025						2024						2025						2024
Revenues:
Rental and other revenue						$	13,043					$	11,611					$	36,679					$	33,529
Total revenues						13,043						11,611						36,679						33,529
Expenses:
Real estate operating expenses						6,203						5,578						17,120						16,462
Interest expense						3,103						2,898						8,618						8,508
Depreciation						3,956						2,916						10,867						8,714
Total expenses						13,262						11,392						36,605						33,684
Total revenues less total expenses						(219)						219						74						(155)
Other equity earnings						2						5						110						26
Net (loss) income						$	(217)					$	224					$	184					$	(129)
BRT's equity in (loss) earnings						$	(75)					$	369					$	637					$	986

Schedule of Real Estate Properties Owned

Real estate properties, consists of the following (dollars in thousands):

						September 30, 2025						December 31, 2024
Land						$	74,246					$	74,246
Building						616,979						616,979
Building improvements						37,081						31,115
Real estate properties						728,306						722,340
Accumulated depreciation						(126,165)						(106,425)
Total real estate properties, net						$	602,141					$	615,915

A summary of real estate properties owned is as follows (dollars in thousands):

						December 31, 2024 Balance						Improvements						Depreciation						Real Estate Sold						September 30, 2025 Balance
Multi-family						$	614,235					$	5,966					$	(19,657)					$	—					$	600,544
Retail shopping center and other						1,680						158						(83)						(158)						1,597
Total real estate properties						$	615,915					$	6,124					$	(19,740)					$	(158)					$	602,141

At the indicated dates, real estate properties of the unconsolidated joint ventures consist of the following (dollars in thousands):

			September 30, 2025						December 31, 2024
Land			$	54,272					$	46,331
Building			387,567						344,546
Building improvements			16,693						9,560
Real estate properties			458,532						400,437
Accumulated depreciation			(92,124)						(81,843)
Total real estate properties, net			$	366,408					$	318,594

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- Definition

Tabular disclosure of equity method investments including, but not limited to, name of each investee or group of investments, percentage ownership, difference between recorded amount of an investment and the value of the underlying equity in the net assets, and summarized financial information.

+ References

Reference 1: http://www.xbrl.org/2003/role/disclosureRef
-Topic 323
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 3
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147481687/323-10-50-3

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Tabular disclosure of real estate properties and units in those properties that are included in the discussion of the nature of an entity's operations.

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