BRT Apartments Corp. Reports on Impact of Hurricanes Harvey and Irma
September 14 2017 - 4:22PM
BRT Apartments Corp. (NYSE:BRT) announced today that preliminary
reports indicate that Hurricanes Harvey and Irma did not have a
material adverse effect on its 26 Texas and Southeast area
properties with an aggregate of 7,871 units, other than the 260
unit Cinco Ranch property located in Katy, Texas, which suffered
significant damage to approximately 96 first floor units.
Based on these preliminary reports, the Company believes that
the damage sustained at Cinco Ranch, including loss of rental
income while this property is being repaired, is substantially
covered by insurance.
“We are deeply moved by the damage and disruption caused by
Hurricanes Harvey and Irma. We are working diligently with our
local team to repair the damage to Cinco Ranch in order to help
restore normalcy as soon as possible to the lives of our
residents,” stated Jeffrey A. Gould, President and Chief Executive
Officer of BRT Apartments Corp.
Forward Looking Statements:
Certain information contained herein is forward looking within
the meaning of Section 27A of the Securities Act of 1933, as
amended, and Section 21E of the Securities Exchange Act of 1934, as
amended. BRT intends such forward looking statements to be
covered by the safe harbor provisions for forward looking
statements contained in the Private Securities Litigation Reform
Act of 1995 and includes this statement for purposes of complying
with these safe harbor provisions. Forward-looking
statements, which are based on certain assumptions and describe our
future plans, strategies and expectations, are generally
identifiable by use of the words “may,” “will,” “believe,”
“expect,” “intend,” “anticipate,” “estimate,” “project,” or similar
expressions or variations thereof. Forward looking
statements, including statements with respect to BRT’s property
ownership and operating activities, involve known and unknown
risks, uncertainties and other factors, which, in some cases, are
beyond BRT’s control and could materially affect actual results,
performance or achievements. Investors are cautioned not to
place undue reliance on any forward-looking statements and to
carefully review the section entitled “Item 1A. - Risk Factors” in
BRT’s Annual Report on Form 10-K for the year ended September 30,
2016 and in the Quarterly Reports on Form 10-Q filed thereafter.
BRT cannot guarantee the accuracy of any such forward-looking
statements contained in this press release, and except as otherwise
required by law, BRT does not intend to publicly update or revise
any forward-looking statements, whether as a result of new
information, future events, or otherwise.
About BRT Apartments Corp:
BRT is a real estate investment trust that directly, or through
joint ventures, owns and operates multi-family properties and other
real estate assets. Additional financial and descriptive
information on BRT, its operations and its portfolio, is available
at BRT’s website at: http://brtapartments.com. Interested
parties are encouraged to review its Form 10-K for the year ended
September 30, 2016 and other reports filed with the Securities and
Exchange Commission for additional information.
Contact: Investor Relations
BRT APARTMENTS CORP.60 Cutter Mill RoadSuite
303Great Neck, New York 11021Telephone (516) 466-3100Telecopier
(516) 466-3132
http://brtapartments.com
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