Acquisitions and Dispositions

6 Months Ended

Jun. 30, 2020

Property Acquisitions

The table below provides information regarding the Company's acquisition of a multi-family property, through an unconsolidated joint venture, during the six months ended June 30, 2020 (dollars in thousands):


Location	Purchase Date	No. of Units	Purchase Price		Acquisition Mortgage Debt		Initial BRT Equity		Ownership Percentage		Capitalized Acquisition Costs
Wilmington, North Carolina	2/20/2020	264	$	38,000	$	23,160	$	13,700	80	%	$	459

The table below provides information regarding the Company's acquisition of multi-family properties, through unconsolidated joint ventures, during the six months ended June 30, 2019 (dollars in thousands):


Location	Purchase Date	No. of Units	Purchase Price		Acquisition Mortgage Debt		Initial BRT Equity		Ownership Percentage		Capitalized Acquisition Costs
Kannapolis, North Carolina	3/12/2019	312	$	48,065	$	33,347	$	11,231	65	%	$	559
Birmingham, Alabama	5/7/2019	328	43,000		32,250		11,625		80	%	546
		640	$	91,065	$	65,597	$	22,856			$	1,105

Property Dispositions

The Company did not dispose of any real estate properties during the three and six months ended June 30, 2020 and 2019.

Impairment Charges

The Company reviews each real estate asset owned, including those held through investments in unconsolidated joint ventures, for impairment when there is an event or a change in circumstances indicating that the carrying amount may not be recoverable.

The Company measures and records impairment losses, and reduces the carrying value of owned properties, when indicators of impairment are present and the expected undiscounted cash flows related to those properties are less than their carrying amounts. For its unconsolidated joint venture investments, the Company measures and records impairment losses, and reduces the carrying value of the equity investment when indicators of impairment are present and the expected discounted cash flows related to the investment is less than the carrying value.

In cases where the Company does not expect to recover its carrying costs on properties held for use, the Company reduces its carrying costs to fair value, and for properties held for sale, the Company reduces its carrying value to the fair value less costs to sell. During the three and six months ended June 30, 2020 and 2019, no impairment charges were recorded.