BRT Realty Trust Enters Into Strategic Relationship

BRT REALTY TRUST BRT announced today that it had entered into a joint venture with an affiliate of Torchlight Investors, LLC. The joint venture, known as BRTL LLC, has the right to acquire short-term commercial real estate mortgage loans (bridge loans) originated by BRT Realty Trust. The maximum capitalization of the joint venture is $100 million, of which the Torchlight affiliate will fund 80% and BRT will fund 20%. BRT will manage the new entity.