XML 42 R30.htm IDEA: XBRL DOCUMENT
v3.26.1

Investment in Unconsolidated Ventures (Tables) | 6 Months Ended
--- | ---
Jun. 30, 2026
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):
|  | June 30, 2026 |  | December 31, 2025
ASSETS |  |  |  |
Real estate properties, net of accumulated depreciation of $103,044 and $95,747 |  | $ | 358,068 |  |  | $ | 363,451 |
Cash and cash equivalents |  | 7,194 |  |  | 7,506 |
Other assets |  | 9,775 |  |  | 11,756 |
Total Assets |  | $ | 375,037 |  |  | $ | 382,713 |
LIABILITIES AND EQUITY |  |  |  |
Liabilities: |  |  |  |
Mortgages payable, net of deferred costs of $1,063 and $1,106 |  | $ | 283,772 |  |  | $ | 285,379 |
Accounts payable and accrued liabilities |  | 8,277 |  |  | 9,435 |
Total Liabilities |  | 292,049 |  |  | 294,814 |
Commitments and contingencies |  |  |  |
Equity: |  |  |  |
Total unconsolidated joint venture equity |  | 82,988 |  |  | 87,899 |
Total Liabilities and Equity |  | $ | 375,037 |  |  | $ | 382,713 |
BRT's interest in joint venture equity |  | $ | 43,297 |  |  | $ | 46,121 |
The condensed income statements below present information regarding the Unconsolidated Properties (dollars in thousands):
|  | Three Months Ended June 30, | Six Months Ended June 30,
|  | 2026 |  | 2025 | 2026 |  | 2025
Revenues: |  |  |  |  |  |  |
Rental and other revenue |  | $ | 13,847 |  |  | $ | 11,927 |  | $ | 27,279 |  |  | $ | 23,636 |
Total revenues |  | 13,847 |  |  | 11,927 |  | 27,279 |  |  | 23,636 |
Expenses: |  |  |  |  |  |  |
Real estate operating expenses |  | 6,878 |  |  | 5,744 |  | 13,383 |  |  | 10,917 |
Interest expense |  | 3,241 |  |  | 2,770 |  | 6,436 |  |  | 5,515 |
Depreciation and amortization |  | 3,917 |  |  | 3,163 |  | 8,115 |  |  | 6,911 |
Total expenses |  | 14,036 |  |  | 11,677 |  | 27,934 |  |  | 23,343 |
Total revenues less total expenses |  | (189) |  |  | 250 |  | (655) |  |  | 293 |
Other equity (loss) earnings |  | 145 |  |  | 18 |  | 139 |  |  | 108 |
Net (loss) income |  | $ | (44) |  |  | $ | 268 |  | $ | (516) |  |  | $ | 401 |
BRT's equity in (loss) earnings |  | $ | (1) |  |  | $ | 299 |  | $ | (309) |  |  | $ | 712 |
Schedule of Real Estate Properties Owned | Real estate properties, consists of the following (dollars in thousands):
|  | June 30, 2026 |  | December 31, 2025
Land |  | $ | 74,246 |  |  | $ | 74,246 |
Building |  | 616,979 |  |  | 616,979 |
Building improvements |  | 41,816 |  |  | 38,410 |
Real estate properties |  | 733,041 |  |  | 729,635 |
Accumulated depreciation |  | (146,212) |  |  | (132,821) |
Total real estate properties, net |  | $ | 586,829 |  |  | $ | 596,814 |
A summary of real estate properties owned is as follows (dollars in thousands):
|  | December 31, 2025 Balance |  | Improvements |  | Depreciation |  |  |  | June 30, 2026 Balance
Multifamily |  | $ | 595,245 |  |  | $ | 3,406 |  |  | $ | (13,336) |  |  |  |  | $ | 585,315 |
Retail shopping center and other |  | 1,569 |  |  | — |  |  | (55) |  |  |  |  | 1,514 |
Total real estate properties |  | $ | 596,814 |  |  | $ | 3,406 |  |  | $ | (13,391) |  |  |  |  | $ | 586,829 |
At the indicated dates, real estate properties of the unconsolidated joint ventures consist of the following (dollars in thousands):
| June 30, 2026 |  | December 31, 2025
Land | $ | 54,272 |  |  | $ | 54,272 |
Building | 387,415 |  |  | 387,364 |
Building improvements | 19,425 |  |  | 17,562 |
Real estate properties | 461,112 |  |  | 459,198 |
Accumulated depreciation | (103,044) |  |  | (95,747) |
Total real estate properties, net | $ | 358,068 |  |  | $ | 363,451 |

X
- References No definition available. + Details
Name: | us-gaap_EquityMethodInvestmentsAndJointVenturesAbstract
Namespace Prefix: | us-gaap_
Data Type: | xbrli:stringItemType
Balance Type: | na
Period Type: | duration

X
- 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/2009/role/commonPracticeRef -Topic 205 -SubTopic 20 -Name Accounting Standards Codification -Section 50 -Paragraph 7 -Publisher FASB -URI https://asc.fasb.org/1943274/2147483499/205-20-50-7 Reference 2: http://www.xbrl.org/2009/role/commonPracticeRef -Topic 205 -SubTopic 20 -Name Accounting Standards Codification -Section 50 -Paragraph 5A -Publisher FASB -URI https://asc.fasb.org/1943274/2147483499/205-20-50-5A Reference 3: 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 + Details
Name: | us-gaap_EquityMethodInvestmentsTextBlock
Namespace Prefix: | us-gaap_
Data Type: | dtr-types:textBlockItemType
Balance Type: | na
Period Type: | duration

X
- Definition 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. + References Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef -Topic 275 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 2 -Publisher FASB -URI https://asc.fasb.org/1943274/2147482861/275-10-50-2 + Details
Name: | us-gaap_ScheduleOfRealEstatePropertiesTableTextBlock
Namespace Prefix: | us-gaap_
Data Type: | dtr-types:textBlockItemType
Balance Type: | na
Period Type: | duration