BRT Boosts Credit Facility

BRT Realty Trust, a real estate investment trust based in Great Neck, N.Y., has reported closing on an amendment to its credit facility that boosts its line of credit from $155 million to $185 million.The facility is provided by North Fork Bank, VNB New York Corp., Signature Bank, and Manufacturers and Traders Trust Co., the company said. It has a maturity date of Feb. 1, 2008, and provides for two one-year renewal options. "The line of credit is secured primarily by mortgage receivables held by BRT, and the maximum availability is contingent on the collateral posted from time to time," the company said. BRT, a mortgage REIT, can be found online at http://www.brtrealty.com.