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
GREAT NECK, N.Y., Sept. 14, 2017 (GLOBE NEWSWIRE) -- 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.