Brief: BRT Apartments- Notified Seller And /Or Other Parties To 238-Unit Multifamily Property Purchase Agreement That Such Agreement Had Terminated

BRT Apartments

26/12/2023 21:57

Dec 26 (Reuters) - BRT Apartments Corp  BRT.N :
    * BRT APARTMENTS - IN DEC, NOTIFIED SELLER AND /OR OTHER
PARTIES
TO 238-UNIT MULTIFAMILY PROPERTY PURCHASE AGREEMENT THAT SUCH
AGREEMENT HAD TERMINATED
    * BRT APARTMENTS CORP - REQUESTED RETURN FROM ESCROW AGENT
OF
ABOUT $1.3 MILLION DOWN PAYMENT
    * BRT APARTMENTS CORP - SELLER COUNTERED THAT CO DEFAULTED
UNDER
PURCHASE AGREEMENT AND IS BLOCKING RETURN OF DOWN PAYMENT
    * BRT APARTMENTS CORP -  ALTHOUGH CO PURSUING RETURN OF DOWN
PAYMENT, CAN PROVIDE NO ASSURANCE THAT CO WILL BE SUCCESSFUL
WITH RESPECT THERETO
    * BRT APARTMENTS CORP - IF CO UNABLE TO RECOUP ALL OR ANY
PORTION
OF SUCH DOWN PAYMENT, CO WILL INCUR A LOSS ON TRANSACTION

Further company coverage:  BRT.N 

 ((Reuters.Briefs@thomsonreuters.com;))