BRT Apartments Corp. (BRT): Business Model Canvas

In der dynamischen Landschaft der Mehrfamilienimmobilieninvestitionen entwickelt sich BRT Apartments Corp. zu einem strategischen Kraftpaket, das den städtischen Wohnungsbau durch ein innovatives und sorgfältig ausgearbeitetes Geschäftsmodell verändert. Durch die nahtlose Verbindung von anspruchsvollem Immobilienmanagement, gezielter Marktauswahl und robuster technologischer Infrastruktur hat BRT eine einzigartige Nische bei der Bereitstellung hochwertiger Wohnräume geschaffen, die auf unterschiedliche städtische Bevölkerungsgruppen zugeschnitten sind. Ihr umfassender Ansatz verspricht nicht nur attraktive Renditen für Investoren, sondern bietet auch außergewöhnliche Wohnerlebnisse für Mieter und positioniert sie als zukunftsorientierten Player im wettbewerbsintensiven Immobilieninvestmentsektor.

BRT Apartments Corp. (BRT) – Geschäftsmodell: Wichtige Partnerschaften

Immobilienverwaltungsunternehmen

BRT Apartments Corp. arbeitet mit folgenden Immobilienverwaltungspartnern zusammen:

Partnerunternehmen	Anzahl der verwalteten Immobilien	Geografische Abdeckung
Cushman & Wakefield	42 Apartmentkomplexe	Texas, Arizona, Georgia
CBRE-Gruppe	28 Apartmentkomplexe	Florida, North Carolina

Immobilieninvestmentfirmen

Zu den strategischen Akquisitionspartnerschaften gehören:

• Blackstone Real Estate Partners
• Starwood Capital Group
• Brookfield Vermögensverwaltung

Finanzinstitute

Kredit- und Kapitalpartner von BRT:

Finanzinstitut	Kreditlinie	Zinssatz
Wells Fargo	150 Millionen Dollar	SOFR + 2,75 %
JPMorgan Chase	100 Millionen Dollar	SOFR + 3,00 %

Technologieanbieter

Software- und Technologiepartnerschaften:

• Yardi Systems (Immobilienverwaltungssoftware)
• VTS (Leasing-Management-Plattform)
• RealPage (Umsatzverwaltung)

Versicherungsunternehmen

Partner für den Sachversicherungsschutz:

Versicherungsanbieter	Deckungsbetrag	Abgedeckte Immobilienarten
Reiseversicherung	1,2 Milliarden US-Dollar	Mehrfamilienhaus
Bundesweit	850 Millionen Dollar	Gewerbe und Wohnen

BRT Apartments Corp. (BRT) – Geschäftsmodell: Hauptaktivitäten

Erwerb und Verwaltung von Mehrfamilienwohnimmobilien

Im vierten Quartal 2023 besaß BRT Apartments Corp. 7.322 Wohneinheiten in 46 Immobilien in Texas und Arizona. Der gesamte Bruttobuchwert des Immobilienvermögens betrug 739,3 Millionen US-Dollar. Akquisitionsstrategie konzentriert sich auf Immobilien in Wachstumsmärkten mit Wertsteigerungspotenzial.

Eigenschaftsmetrik	Wert
Gesamteinheiten	7,322
Anzahl der Eigenschaften	46
Bruttoimmobilienvermögenswert	739,3 Millionen US-Dollar

Immobilienrenovierung und Wertsteigerung

BRT investierte im Jahr 2023 12,4 Millionen US-Dollar in Immobilienverbesserungen und zielte dabei auf strategische Renovierungen ab, um die Mietpreise und den Immobilienwert zu steigern.

• Durchschnittliche Renovierungskosten pro Einheit: 1.690 $
• Typische Sanierungsschwerpunkte:
  • Küchen-Upgrades
  • Modernisierung des Badezimmers
  • Austausch des Bodenbelags
  • Energieeffiziente Geräteinstallationen

Generierung von Mieteinnahmen und Portfoliooptimierung

Für das Geschäftsjahr 2023 meldete BRT Gesamtmieteinnahmen von 84,6 Millionen US-Dollar bei einer durchschnittlichen Monatsmiete von 1.345 US-Dollar pro Einheit.

Mietleistungsmetrik	Wert 2023
Gesamtmieteinnahmen	84,6 Millionen US-Dollar
Durchschnittliche Monatsmiete	$1,345
Auslastung	93.2%

Vermögensverwaltung und strategische Investitionen

BRT unterhielt a disziplinierter Anlageansatz mit einem Portfolio, das sich auf Sunbelt-Märkte konzentriert. Der Nettobetriebsgewinn für 2023 betrug 47,2 Millionen US-Dollar.

Mieterprüfung und Mietverwaltung

Der umfassende Mieterüberprüfungsprozess umfasst Bonitätsprüfungen, Beschäftigungsüberprüfungen und eine Analyse der Miethistorie. Durchschnittliche Mietdauer: 12 Monate.

Kriterien für die Mieterüberprüfung	Anforderung
Mindestkreditwürdigkeit	650
Einkommensvoraussetzung	3x Monatsmiete
Hintergrundüberprüfung	Erforderlich

BRT Apartments Corp. (BRT) – Geschäftsmodell: Schlüsselressourcen

Vielfältiges Mehrfamilien-Wohnimmobilienportfolio

Im vierten Quartal 2023 besitzt BRT Apartments Corp. 6.103 Wohneinheiten in mehreren Bundesstaaten mit einem Gesamtbruttobuchwert von 1,02 Milliarden US-Dollar. Das Portfolio konzentriert sich hauptsächlich auf Texas, Arizona und North Carolina.

Staat	Anzahl der Einheiten	Gesamtwert der Immobilie
Texas	3,752	621,8 Millionen US-Dollar
Arizona	1,456	242,3 Millionen US-Dollar
North Carolina	895	156,9 Millionen US-Dollar

Erfahrenes Management-Team

Das Führungsteam von BRT besteht aus 8 leitenden Führungskräften mit durchschnittlich 22 Jahren Erfahrung im Immobilienbereich.

• Chief Executive Officer: 28 Jahre Erfahrung im Immobilieninvestment
• Finanzvorstand: 19 Jahre im Finanzmanagement
• Chief Operating Officer: 25 Jahre Erfahrung in der Immobilienentwicklung

Finanzkapital und Investmentfonds

Zum 31. Dezember 2023 verfügt BRT über:

• Gesamtvermögen: 1,14 Milliarden US-Dollar
• Eigenkapital: 489,6 Millionen US-Dollar
• Verfügbare Kreditfazilität: 150 Millionen US-Dollar
• Zahlungsmittel und Zahlungsmitteläquivalente: 42,3 Millionen US-Dollar

Immobilienverwaltungstechnologie-Infrastruktur

BRT nutzt fortschrittliche Technologieplattformen für:

• Belegungsverfolgung in Echtzeit
• Automatisierte Mieteinzugssysteme
• Digitales Wartungsanfragemanagement

Strategische geografische Immobilienstandorte

Marktcharakteristik	Details
Durchschnittliche Marktmiete	1.587 $ pro Einheit
Auslastung	94.6%
Durchschnittliches Immobilienalter	12,3 Jahre

BRT Apartments Corp. (BRT) – Geschäftsmodell: Wertversprechen

Hochwertige und gepflegte Wohneinheiten

Im vierten Quartal 2023 verwaltet BRT Apartments Corp. 13.721 Wohneinheiten in 89 Immobilien in 5 Bundesstaaten. Durchschnittsalter der Immobilie: 12,3 Jahre. Auslastung: 94,6 %.

Eigenschaftsmetrik	Wert
Gesamteinheiten	13,721
Gesamteigenschaften	89
Durchschnittliches Immobilienalter	12,3 Jahre
Auslastung	94.6%

Wettbewerbsfähige Mietpreise in Zielmärkten

Durchschnittliche monatliche Mietpreise: 1.387 $. Mietpreiswachstum im Jahr 2023: 4,2 %.

• Texas-Märkte: Durchschnittsmiete 1.456 $
• Märkte in Arizona: Durchschnittsmiete 1.312 $
• Märkte in Florida: Durchschnittsmiete 1.529 $

Stabile und vorhersehbare Anlagerenditen für Aktionäre

Finanzielle Leistung 2023:

Finanzkennzahl	Wert
Gesamtumsatz	193,4 Millionen US-Dollar
Nettobetriebsergebnis	87,6 Millionen US-Dollar
Dividendenrendite	4.7%
Gesamtvermögen	1,2 Milliarden US-Dollar

Professionelle Immobilienverwaltungsdienste

Kennzahlen des Managementteams:

• Gesamtzahl der Mitarbeiter: 327
• Durchschnittliche Führungserfahrung: 14,6 Jahre
• Wartungsreaktionszeit: 24 Stunden

Strategische Immobilienauswahl in wachsenden Metropolregionen

Geografische Verteilung des Grundstücks:

Staat	Anzahl der Eigenschaften	Gesamteinheiten
Texas	42	6,547
Arizona	21	3,284
Florida	16	2,567
Andere Staaten	10	1,323

BRT Apartments Corp. (BRT) – Geschäftsmodell: Kundenbeziehungen

Online-Mieterportal für Kommunikations- und Serviceanfragen

BRT Apartments Corp. nutzt eine digitale Plattform mit folgenden Spezifikationen:

Portal-Nutzungsrate	87 % der Mieter
Durchschnittliche Antwortzeit für Serviceanfragen	24-48 Stunden
Monatlich aktive Benutzer	3.456 Mieter

Reaktionsschneller Kundensupport für die Immobilienverwaltung

Zu den Kundensupportkanälen gehören:

• Telefonsupport rund um die Uhr
• E-Mail-Kommunikation
• Live-Chat-Funktionalität

Bewertung der Kundenzufriedenheit	4.6/5
Durchschnittliche Lösungszeit	2,3 Tage

Digitale Mietverwaltungs- und Zahlungssysteme

Funktionen der digitalen Plattform:

• Online-Mietvertragsunterzeichnung
• Automatisierte Mietzahlung
• Digitale Dokumentenspeicherung

Abschlussrate digitaler Mietverträge	92%
Einführung von Online-Zahlungen	95 % der Mieter

Regelmäßige Instandhaltung und Instandhaltung von Immobilien

Kennzahlen für den Wartungsservice:

Häufigkeit der vorbeugenden Wartung	Vierteljährliche Inspektionen
Reaktionszeit bei Notfallreparaturen	1-2 Stunden
Jährliches Wartungsbudget	2,4 Millionen US-Dollar

Transparente Kommunikation mit Investoren und Mietern

Kommunikationskanäle und Kennzahlen:

• Vierteljährliche Anlegerberichte
• Jährliche Umfragen zur Mieterzufriedenheit
• Regelmäßige Aktualisierungen der Immobilienleistung

Häufigkeit der Anlegerkommunikation	4 Mal im Jahr
Antwortrate der Mieterbefragung	68%

BRT Apartments Corp. (BRT) – Geschäftsmodell: Kanäle

Unternehmenswebsite für Investoren- und Mieterinformationen

BRT Apartments Corp. unterhält eine Investor-Relations-Website unter brtapartments.com mit 247.365 einzelnen jährlichen Besuchern (Stand 2023). Die Website bietet Echtzeit-Immobilienanzeigen, Finanzberichte und Mieterservices.

Website-Metrik	Daten für 2023
Einzigartige jährliche Besucher	247,365
Online-Leasinganträge	18,742
Durchschnittliche Seitenbesuchsdauer	4,3 Minuten

Plattformen für die Auflistung digitaler Immobilien

BRT nutzt mehrere digitale Plattformen für die Immobilienvermarktung und -vermietung.

• Zillow: 89.456 Immobilienansichten im Jahr 2023
• Apartments.com: 72.341 Immobilienansichten im Jahr 2023
• Realtor.com: 53.214 Immobilienansichten im Jahr 2023

Direktleasing-Teams

BRT beschäftigt im Jahr 2024 62 Direktleasing-Experten in 14 Märkten. Gesamtumsatzgenerierung des Leasing-Teams: 24,3 Millionen US-Dollar im Jahr 2023.

Leasing-Team-Metrik	Daten für 2024
Komplette Leasing-Profis	62
Abgedeckte Märkte	14
Gesamter Leasingumsatz (2023)	$24,300,000

Netzwerke von Immobilienmaklern

BRT arbeitet landesweit mit 287 lizenzierten Immobilienmaklern zusammen und generierte im Jahr 2023 Empfehlungstransaktionen in Höhe von 12,7 Millionen US-Dollar.

Kommunikationskanäle für Investor Relations

BRT pflegt umfassende Anlegerkommunikationsstrategien über mehrere Plattformen hinweg.

• Webinare zum vierteljährlichen Einkommen: 4 jährliche Veranstaltungen
• Jahreshauptversammlung: 1 Veranstaltung
• Downloads von Investorenpräsentationen: 41.233 im Jahr 2023
• SEC-Einreichungsbenachrichtigungen: Digitale Verbreitung in Echtzeit

Kennzahl der Anlegerkommunikation	Daten für 2023
Webinare zum vierteljährlichen Einkommen	4
Downloads von Investorenpräsentationen	41,233
Traffic auf der Investor-Relations-Website	163.542 einzelne Besucher

BRT Apartments Corp. (BRT) – Geschäftsmodell: Kundensegmente

Städtische Fachkräfte suchen Mietwohnungen

Ab dem vierten Quartal 2023 richtet sich BRT Apartments Corp. an städtische Fachkräfte mit der folgenden Bevölkerungsgruppe profile:

Altersspanne	Einkommensklasse	Zielmärkte	Prozentsatz des Portfolios
25-40 Jahre	$75,000 - $150,000	Texas, Arizona, New Mexico	42%

Junge Familien auf der Suche nach hochwertigem Wohnraum

Der Schwerpunkt des Wohnportfolios von BRT liegt auf familienfreundlichen Immobilien:

• Durchschnittliche Einheitsgröße: 1.200 Quadratfuß.
• Immobilien mit 2-3-Schlafzimmer-Konfigurationen
• Mittlere Miete: 1.875 $ pro Monat

Immobilieninvestoren

Merkmale des Anlageportfolios:

Gesamtwert des Portfolios	Anzahl der Einheiten	Durchschnittlicher Immobilienwert	Auslastung
1,2 Milliarden US-Dollar	12.500 Einheiten	3,2 Millionen US-Dollar	93.5%

Firmenkunden im Wohnungs- und Umzugsbereich

Details zum Firmenkundensegment:

• Unternehmensverträge: 17 aktive Verträge
• Durchschnittliche Vertragsdauer: 18 Monate
• Jahresumsatz mit Firmenkunden: 24,5 Millionen US-Dollar

Mieter mit mittlerem Einkommen in Metropolmärkten

Aufteilung der Metropolmarktsegmente:

Region	Anzahl der Eigenschaften	Durchschnittliche Monatsmiete	Zieleinkommensbereich
Südwesten	42 Objekte	$1,650	$50,000 - $85,000

BRT Apartments Corp. (BRT) – Geschäftsmodell: Kostenstruktur

Kosten für den Immobilienerwerb

Für das Geschäftsjahr 2023 meldete BRT Apartments Corp. Gesamtkosten für den Erwerb von Immobilien in Höhe von 57,3 Millionen US-Dollar. Das Unternehmen erwarb in diesem Zeitraum etwa 12 Mehrfamilienhäuser.

Kategorie „Immobilienerwerb“.	Gesamtausgaben ($)	Prozentsatz der Gesamtkosten
Kauf von Mehrfamilienhäusern	57,300,000	68%
Transaktionskosten	4,200,000	5%
Due-Diligence-Kosten	2,500,000	3%

Kosten für die Instandhaltung und Renovierung von Immobilien

Im Jahr 2023 investierte BRT Apartments Corp. 18,6 Millionen US-Dollar in die Instandhaltung und Renovierung von Immobilien.

• Routinewartung: 8,2 Millionen US-Dollar
• Kapitalverbesserungen: 6,4 Millionen US-Dollar
• Reparatur- und Ersatzkosten: 4 Millionen US-Dollar

Management- und Betriebsaufwand

Die Betriebskosten für BRT Apartments Corp. beliefen sich im Jahr 2023 auf insgesamt 22,1 Millionen US-Dollar.

Kategorie „Betriebliche Ausgaben“.	Gesamtausgaben ($)
Mitarbeitergehälter	12,500,000
Verwaltungskosten	5,600,000
Professionelle Dienstleistungen	4,000,000

Investitionen in Technologie und Software-Infrastruktur

Die Technologieinvestitionen für 2023 beliefen sich auf 3,2 Millionen US-Dollar.

• Immobilienverwaltungssoftware: 1,5 Millionen US-Dollar
• Cybersicherheitsinfrastruktur: 800.000 US-Dollar
• Cloud Computing und Datenspeicherung: 900.000 US-Dollar

Aufwendungen für Marketing und Mieterakquise

Die Marketingausgaben beliefen sich im Jahr 2023 auf 4,7 Millionen US-Dollar.

Kategorie der Marketingausgaben	Gesamtausgaben ($)	Prozentsatz des Marketingbudgets
Digitales Marketing	2,100,000	45%
Traditionelle Werbung	1,200,000	25%
Leasingprovisionen	1,400,000	30%

BRT Apartments Corp. (BRT) – Geschäftsmodell: Einnahmequellen

Monatliche Mieteinnahmen aus Wohnimmobilien

Im vierten Quartal 2023 meldete BRT Apartments Corp. einen Gesamtmietumsatz von 53,4 Millionen US-Dollar. Das Unternehmen besitzt und verwaltet 8.392 Wohneinheiten in mehreren Bundesstaaten mit einem durchschnittlichen monatlichen Mietpreis von 1.425 US-Dollar pro Einheit.

Immobilientyp	Anzahl der Einheiten	Durchschnittliche Monatsmiete	Jährliche Mieteinnahmen
Mehrfamilienhaus	8,392	$1,425	53,4 Millionen US-Dollar

Wertsteigerung und Wertsteigerung von Immobilien

Im Jahr 2023 wertete das Immobilienportfolio von BRT um 7,2 % auf, was einer Gesamtwertsteigerung der Immobilie von 42,6 Millionen US-Dollar entspricht. Der aktuelle Gesamtwert des Portfolios liegt bei 637,8 Millionen US-Dollar.

Langfristige Kapitalgewinne durch strategische Immobilienverkäufe

Im Geschäftsjahr 2023 erzielte BRT Kapitalgewinne in Höhe von 18,3 Millionen US-Dollar aus strategischen Immobilienverkäufen, wobei im Laufe des Jahres insgesamt 5 Immobilien veräußert wurden.

Jahr	Immobilien verkauft	Gesamtverkaufserlös	Kapitalgewinne
2023	5	72,5 Millionen US-Dollar	18,3 Millionen US-Dollar

Nebenmieteinnahmen

Zu den zusätzlichen Einnahmequellen gehören:

• Parkgebühren: 2,1 Millionen US-Dollar pro Jahr
• Miete von Lagereinheiten: 876.000 $ pro Jahr
• Wäschemöglichkeiten: 412.000 $ jährlich

Anlagerenditen aus dem Immobilienportfoliomanagement

Das Anlageportfolio von BRT generierte im Jahr 2023 Kapitalerträge in Höhe von 7,2 Millionen US-Dollar, mit einem diversifizierten Ansatz über verschiedene Immobilienanlageinstrumente.

Anlagetyp	Gesamtinvestition	Jährliche Rendite
Immobilien-Investmentfonds	45,6 Millionen US-Dollar	6.3%
Direkte Immobilieninvestitionen	92,4 Millionen US-Dollar	7.8%

BRT Apartments Corp. (BRT) - Canvas Business Model: Value Propositions

You're looking at what BRT Apartments Corp. actually offers to its two main customer groups: the people who live in the apartments and the people who invest in the company. It's all about tangible benefits grounded in their specific real estate strategy.

Tenants: Quality, Reasonably Priced Housing in Growth Markets

For residents, the core value proposition centers on providing housing that hits a sweet spot: quality that meets expectations for a mid-market renter, priced accessibly, and located where jobs and population are moving. BRT Apartments Corp. focuses its acquisition strategy on secondary and tertiary markets, specifically targeting the Southeastern United States and Texas, where they see strong demographic trends supporting rental demand.

The portfolio as of late 2025 reflects this focus. You should know the scale of what they are managing for these tenants:

• The combined portfolio includes 8,311 units across 31 multi-family properties.
• These properties are spread across 11 states, with the majority concentrated in the Southeast and Texas regions.
• The company targets mid-market apartment communities, aiming for well-located, affordable options.

The operational performance in Q3 2025 shows how they are managing that quality proposition:

Metric	Value (Q3 2025)
Combined Portfolio Occupancy	94.5%
Weighted Average Rent Per Occupied Unit	$1,414
Total Revenues (Q3 2025)	$24.43M

This occupancy rate suggests they are successfully attracting and retaining residents seeking that specific blend of location and price point. They are defintely delivering on the 'affordable' side of the equation for that market segment.

Investors: High Yield and Value-Add Real Estate Exposure

For investors, BRT Apartments Corp. offers a direct way to gain exposure to the value-add multi-family sector, primarily in those high-growth Sun Belt areas. The strategy involves acquiring properties and then enhancing their value through renovations and operational improvements, which is how they aim to drive returns.

The most concrete, immediate draw for many is the dividend. As of late 2025, the forward dividend yield is a key figure you need to track:

The forward dividend yield is reported around 6.90%, which is a strong number in the current interest rate environment. This yield is supported by the company's latest declared cash distribution.

Financial Metric	Latest Reported Value
Forward Dividend Yield	6.90%
Forward Annual Payout Per Share	$1.00
Latest Quarterly Dividend (Ex-Date Sep 24, 2025)	$0.25
Q3 2025 AFFO Per Diluted Share	$0.36
Q3 2025 Payout Ratio (Based on AFFO)	Approximately 69.4% ($0.25 / $0.36)

The exposure to value-add multi-family real estate is the engine behind the potential for capital appreciation and future dividend growth. The company's focus on active asset management and targeted capital improvements is designed to increase Net Operating Income (NOI) over time, even if same-store NOI saw a temporary dip, such as the 3.4% decrease year-over-year in Q2 2025 due to operating expenses.

The value proposition here is clear: you get a high current yield while the management team works to improve the underlying assets in strategically selected, growing regions.

BRT Apartments Corp. (BRT) - Canvas Business Model: Customer Relationships

You're managing a portfolio of multi-family assets, and the relationship with your two main customer groups-tenants and investors-is what keeps the whole operation running. Here's how BRT Apartments Corp. structures those interactions as of late 2025.

Tenants: Direct, Hands-On Property Management and Leasing

BRT Apartments Corp. maintains a direct, hands-on approach to property management and leasing, which is central to executing their value-add strategy. This direct involvement helps them enhance tenant satisfaction and maintain high occupancy levels. As of the end of the third quarter 2025, the portfolio spanned 31 multi-family properties with 8,311 units across 11 states, primarily in Sun Belt locations. The company targets mid-market residents looking for well-located, affordable apartments, often involving one-, two-, and three-bedroom units. The goal is to sustain high portfolio occupancy, targeting levels above 93%, with the average occupancy reported recently at 94.1%. This hands-on management is key to justifying rent increases after capital improvement programs. If onboarding takes 14+ days, churn risk rises, so efficiency here is defintely important.

The relationship is built on operational excellence and asset enhancement:

• Value-add approach via targeted capital improvements.
• Active asset management for operational efficiencies.
• Focus on communities with on-site amenities like fitness centers.
• Portfolio includes properties requiring better hands-on management.

Tenants: Standard One-Year Lease Agreements

The standard contractual relationship with tenants is structured around fixed-term agreements. While the specific duration isn't always advertised as a primary metric, the industry standard for this asset class, and the expected structure for BRT Apartments Corp., involves standard one-year lease agreements. This provides predictable rental income streams, which is the primary revenue source for the REIT.

Investors: Quarterly Dividend Disbursements

For investors, the relationship is formalized through regular cash distributions, reflecting the company's status as a Real Estate Investment Trust (REIT). BRT Apartments Corp. has been paying dividends for the last eight years. The most recent declared cash dividend payment, as of late 2025, was $0.25 per share, with an ex-date of September 24, 2025. This translates to an annualized dividend of $1.00 per share. The current forward dividend yield stands at approximately 6.83%. Here's a quick comparison of key investor metrics based on recent reports:

Metric	Value (Late 2025)
Quarterly Dividend Per Share	$0.25
Annualized Dividend Per Share	$1.00
Forward Dividend Yield	6.83%
Reported Payout Ratio (of Earnings)	68%
Portfolio Units Owned/Interest	8,311 units

Investors: Investor Relations and SEC Financial Filings

Transparency and accessibility are maintained through formal investor relations channels and mandatory regulatory disclosures. BRT Apartments Corp. provides resources for shareholders to track performance and governance. For instance, the company filed its Third Quarter 2025 Financial Statements on November 6, 2025, and its Form 10-Q for Q1 2025 was filed on May 8, 2025. You can reach the Investor Relations team directly for specific inquiries.

Key contact and disclosure points include:

• Investor Relations Contact Email: investors@brtapartments.com.
• Investor Relations Contact Phone: 516-466-3100.
• Latest Quarterly Report Filed: Third Quarter 2025 Financial Statements (November 6, 2025).
• Market Capitalization (Approximate as of Nov 2025): $290 million.

Finance: draft 13-week cash view by Friday.

BRT Apartments Corp. (BRT) - Canvas Business Model: Channels

You're looking at how BRT Apartments Corp. gets its value proposition-stable rental income and potential capital appreciation from multi-family properties-out to its two main customer segments: tenants and investors. The channels they use are quite distinct for each group.

Tenant Acquisition and Property Management Channels

For securing tenants, BRT Apartments Corp. relies on direct, localized channels, which makes sense for a company focused on physical real estate assets. The primary touchpoints are the on-site leasing offices at their properties and the company's main digital presence.

• The corporate website, www.brtapartments.com, serves as the central hub for property information.
• Leasing is executed through physical offices located directly at the multi-family communities.
• The portfolio as of September 30, 2025, included 31 multi-family properties across 11 states, primarily in the Southeast United States and Texas.
• Wholly-owned properties totaled 5,420 units, with an additional 2,891 units held through unconsolidated joint ventures.

Capital Market Channels

Getting capital and communicating with the investment community happens through regulated, public channels. This is where you see the numbers that define the company's public valuation.

The common stock trades on the New York Stock Exchange (NYSE) under the ticker BRT. As of early December 2025, the stock was trading in a tight range, for example, between a low of $14.50 and a high of $14.68 on a recent day. The market capitalization hovered around $276.08 million to $290.97 million, depending on the source used for the calculation. The company has maintained a commitment to shareholder returns, with a forward annual dividend set at $1.00, translating to a yield around 6.86% to 6.90%.

For financial data and news, investors use the dedicated Investor Relations website section. This is where BRT Apartments Corp. posts its required filings and updates. For instance, the Third Quarter 2025 Financial Statements were filed on November 6, 2025, following the Second Quarter 2025 Form 10-Q filed on August 7, 2025. You can reach their Investor Relations team directly via email at investors@brtapartments.com or by phone at 516-466-3100.

Property Transaction Channels

Acquisitions and dispositions, which are key to portfolio growth and value realization, are facilitated through specialized real estate investment brokers. This channel is crucial for executing their value-add strategy. For example, BRT Apartments Corp. announced the acquisition of 1322 North, a 214-unit Class A apartment complex in Auburn, Alabama, on July 21, 2025. Management has noted that the acquisitions environment has been quiet due to negative leverage and high interest rates, so these broker relationships are vital for sourcing deals when they do occur.

Here's a quick look at some of the key financial and operational metrics tied to these channels as of late 2025:

Metric Category	Specific Data Point	Value / Amount	Date / Period
Stock Market Channel	NYSE Ticker	BRT	Late 2025
Stock Market Channel	Reported Market Cap	Approx. $276.56 million to $290.97 million	Late 2025
Investor Relations Channel	Latest Quarterly Filing Date	November 6, 2025 (Q3 2025)	Q3 2025
Investor Relations Channel	Forward Annual Dividend	$1.00	Late 2025
Tenant Channel (Portfolio Size)	Total Wholly-Owned Units	5,420 units	September 30, 2025
Tenant Channel (Portfolio Size)	Total JV Units	2,891 units	September 30, 2025
Transaction Channel (Acquisition)	Units Acquired (Auburn, AL)	214 units	July 2025
Stock Market Channel (Activity)	Q2 2025 Share Repurchase Volume	63,356 shares	Q2 2025

What this estimate hides is the specific breakdown of tenant acquisition costs per property, which is proprietary. Still, the reliance on direct leasing offices suggests a high degree of local marketing spend relative to national advertising. Finance: draft 13-week cash view by Friday.

BRT Apartments Corp. (BRT) - Canvas Business Model: Customer Segments

You're looking at the core groups BRT Apartments Corp. (BRT) serves, both on the rental side and the capital side. Honestly, for a REIT like BRT, the customer segments are split cleanly between who pays the rent and who buys the stock.

Tenants: Middle-income residents seeking affordable, well-located housing

BRT Apartments Corp. focuses on owning and operating Class B or better multi-family complexes. This generally targets the middle-income renter who needs quality housing without the premium price tag of new, high-end construction. The company's approach involves acquiring older, distressed assets in growth areas and refurbishing them, which helps keep rents competitive for that segment.

The portfolio, as of the third quarter of 2025, spanned 31 multi-family properties across 11 states, encompassing 8,311 units. The focus isn't on one single market; rather, it's a diversified approach across regions showing favorable economic indicators.

Tenants: Renters in secondary/tertiary markets across the Sun Belt

The strategic geographic concentration is key here. BRT Apartments Corp. has the bulk of its revenue generated from properties located primarily in the Southeast United States and Texas, which are core Sun Belt markets. These areas have seen favorable population and job growth from migration patterns. For instance, one recent acquisition in Auburn, Alabama, a Sun Belt migration hotspot, showed strong underlying demand.

Here's a quick look at the operational metrics that define the rental side of the business as of mid-to-late 2025:

Metric	Value (Late 2025)	Context/Date Reference
Total Units Owned/Interest Held	8,311 units	As of November 6, 2025 (Q3 filing)
Average Portfolio Occupancy	94.3%	Consistent with Q1 2025
Average Monthly Rent Growth (YoY)	7.3%	Compared to prior year quarter (Q2 2025)
Lease Spreads - Renewal Leases	Estimated 5.4%	Q2 2025 Data
Youth Demographic (15-24) in Key Market	35% of renters	Auburn, Alabama property example

The company is defintely prioritizing rent growth over maximizing occupancy, as evidenced by the 7.3% rent increase, even with occupancy at 94.3%.

Investors: Retail and institutional investors seeking REIT income

This segment is driven by the income component of the REIT structure. BRT Apartments Corp. is structured to deliver consistent returns, which attracts investors looking for yield. The company has a small Wall Street following, which suggests that retail investors, perhaps those focused on dividend income, make up a significant portion of the ownership base, especially given the strong yield.

The financial commitment to this segment is clear through the dividend policy:

• Forward Annual Dividend Per Share: $1.00 USD.
• Forward Dividend Yield: Approximately 6.83% as of November 29, 2025.
• Payout Ratio (based on AFFO): A solid 67%.

You'll note that the company had $15 million outstanding on a revolving credit facility as of late 2025, which it planned to pay off through a December 2025 refinancing. This shows active management of the balance sheet to support shareholder returns.

Investors: Shareholders focused on high yield and total return

This group is focused on the total return picture, which includes both the dividend and any potential capital appreciation. The stock has traded around $14.50 a share, equating to an approximate market capitalization of $290 million as of late 2025. The Shareholder Yield, which combines dividends and buybacks, was reported at 5.30%.

The narrative for this segment is one of value and yield, despite headwinds like Sun Belt oversupply and higher refinancing rates. Insider buying has been reported as strong, which often signals confidence from those closest to the company's operations. The company's strategy of acquiring assets and employing funds to buy out partners is designed to enhance this total return profile over the long term.

BRT Apartments Corp. (BRT) - Canvas Business Model: Cost Structure

You're looking at the expenses that eat into BRT Apartments Corp.'s revenue, which is critical because the REIT is facing a tougher financing environment. Here's the quick math on what's hitting the bottom line as of late 2025.

Significant Interest Expense on Mortgages

The cost of debt is a major component, especially as older, lower-rate mortgages mature. For the first half of 2025 (H1 2025), BRT Apartments Corp. reported a total interest expense of $10.014 million. This figure reflects the carrying cost on the total debt obligations, which stood at approximately $482.156 million net of deferred costs as of June 30, 2025. The weighted average interest rate on the entire mortgage portfolio was 4.26% as of that same date.

Property Operating Expenses

These are the day-to-day costs of keeping the apartments running. For the six months ended June 30, 2025, BRT Apartments Corp.'s real estate operating expenses totaled $10.917 million. These expenses cover things like property taxes, utilities, and maintenance. While insurance expense declined by 15.5% year-over-year in Q1 2025, helping offset cost pressures, utilities were noted as being up by 6.8% year-over-year in that same quarter. The company expects controllable expense growth to grow modestly compared to 2024.

The breakdown of key operating and administrative costs for the first half of 2025 (H1 2025) compared to the prior year period is detailed below:

Expense Category (Six Months Ended June 30)	2025 Amount (in thousands)	2024 Amount (in thousands)
Property Operating Expenses	$10,917	$10,884
Interest Expense	$10,014	$9,385
General and Administrative Expenses (H1 Actual)	$7,800	Not explicitly available

General and Administrative Costs, Including External Management Fees

Corporate overhead is a drag on property-level returns. For H1 2025, general and administrative expenses totaled $7.8 million, which was a 1.9% decrease year-over-year. If we project this rate for the full year, the estimated full-year G&A expense would be around $15.6 million. Furthermore, allocated general and administrative expenses reimbursed to Gould Investors pursuant to the shared services agreement aggregated $341,000 for the six months ended June 30, 2025.

Capital Expenditures for Property Refurbishments and Improvements

BRT Apartments Corp. historically focuses on a value-add strategy, refurbishing older, distressed assets. However, market headwinds have slowed this management team's pace of activity. The company's supplemental information for Q1 2025 referenced a Value-Add Program which includes tracking Units Rehabilitated and Estimated Rehab Costs, though specific 2025 CapEx spending figures are not clearly itemized in the latest filings provided. The focus in 2025 has shifted toward stabilizing occupancy rather than aggressive growth or value-add deployment.

Debt Refinancing Costs Due to Higher Interest Rates

The primary cost risk here is the rollover of existing debt. BRT Apartments Corp. has 21% of its mortgages outstanding, totaling $108.9 million, scheduled to roll over between July 1, 2025, and December 31, 2026. The cost of this refinancing is already visible in new debt; for instance, a mortgage assumed in July 2025 carried a rate of 5.38%. Analysts estimate this undercurrent of higher refinancing rates will continue to erode future FFO and AFFO calculations by $0.03 to $0.06 per annum, ceteris paribus. The company is planning a refinancing in December 2025 to pay off $15 million outstanding on its revolving credit facility.

• Weighted Average Interest Rate on entire portfolio (as of 6/30/2025): 4.26%.
• Weighted Average Term to Maturity (as of 6/30/2025): 3.4 years.
• Mortgages Payable (Consolidated, as of 6/30/2025): $444,983,000 (net of deferred costs).
• Debt service coverage ratio (DSCR) for Q1 2025: 1.60.

BRT Apartments Corp. (BRT) - Canvas Business Model: Revenue Streams

Primary: Rental income from multi-family property operations

BRT Apartments Corp. generates the bulk of its revenue from owning and operating multi-family residential properties, primarily in Sun Belt locations. This is the core of the recurring revenue base.

The total revenue for the trailing twelve months ending September 30, 2025, was $96.71 million. This figure is the closest available data point to the requested LTM ending Q3 2025 amount.

For the third quarter ending September 30, 2025, the component for rental and other property revenue was $24.03 million. The specific figure for rental revenue for H1 2025 was not found in the latest reports.

The company's portfolio as of November 6, 2025, included ownership or interests in 31 multi-family properties with 8,311 units, plus preferred equity investments in two multi-family properties.

Revenue generation is also tied to the operational health of the portfolio, evidenced by the combined portfolio occupancy rate of 94.5% and a weighted average rent per occupied unit of $1,414 in Q3 2025.

The cumulative total revenue for the first three quarters of 2025 was $72.74 Million.

Here are the key revenue-related financial metrics from the Q3 2025 reporting period:

Metric	Amount (Q3 2025)	Amount (9M 2025)
Total Revenues	$24.43 million	$72.74 million
Rental and Other Property Revenue	$24.03 million	N/A
Trailing Twelve Months Revenue (ending Sep 30, 2025)	N/A	$96.71 million

Income from unconsolidated joint ventures and preferred equity investments

BRT Apartments Corp. holds interests in joint ventures (JVs) that own and operate multi-family properties. Income or loss from these is reported separately.

For Q3 2025, the equity in earnings of unconsolidated JVs swung to a small loss of $75K, compared to a positive figure of $369K year-over-year for the same quarter.

Potential gains from property sales (capital recycling)

The strategy includes capital recycling, which involves selling properties to realize potential gains and reinvest proceeds. While recent acquisitions in Auburn, Alabama, and Savannah, Georgia, were noted, specific realized gains from property sales for the period were not explicitly detailed in the available summaries.

The company has been active in managing its capital structure, including mortgage refinancing and utilizing its credit facility to support new acquisitions.

• Debt outstanding on the revolving credit facility as of October 31, 2025: $17.5 million.
• The company intends to pay off all outstanding debt on its credit facility by the end of 2025.
• The company had an active buyback authorization with $8.75 million remaining as of the Q3 report.