NYSE, BRT - BRT Realty Trust
We are a real estate investment trust, also known as a REIT, organized as a
business trust under the laws of the Commonwealth of Massachusetts in 1972. We
are primarily engaged in originating and holding for investment senior and
junior commercial mortgage loans secured by real property in the United States.
These loans generally have relatively high yields and are short term or bridge
loans with an average duration ranging from six months to three years. We
generally lend at a floating rate of interest based on a spread over the prime
rate and receive an origination fee for the loans we originate. At September 30,
2007, we had 51 loans outstanding that were secured by properties located in 11
states.
From time to time, we have also participated as both an equity investor in, and
a mortgage lender to, joint ventures which acquire income-producing real
property and in the past we have purchased equity securities in other REITs. ...
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