BRT Realty Trust, a real estate investment trust based in Great Neck, N.Y., has announced the sale of $30 million of trust preferred securities in a private placement.The mortgage REIT said the sale will enable it to continue the expansion of its lending activities. The 30-year securities will bear interest of 8.49% through April 30, 2016, and at a floating rate of 2.90% above the three-month London interbank offered rate after that, the company said. BRT can be found online at http://www.brtrealty.com.
BRT Realty Places Preferred Securities
April 28, 2006, 2:00 p.m. EDT 1 Min Read
