ACQUISITIONS, DISPOSITIONS AND IMPAIRMENT CHARGES (Tables)

12 Months Ended

Dec. 31, 2021

Business Combination and Asset Acquisition [Abstract]

Schedule of Real Estate Acquisitions

The following table summarizes these purchases (dollars in thousands):

NOTE 3—ACQUISITIONS, DISPOSITIONS AND IMPAIRMENT CHARGES

Location	Purchase Date	No. of Units	Interest Purchased		Purchase Price		Mortgage Debt Assumed/Acquired
Bells Bluff, Nashville, TN	8/18/2021	402	42.0	%	$	27,860	$	52,000
Crestmont at Thornblade, Greenville, SC	10/1/2021	266	10.0	%	1,600		26,425
Crossings of Bellevue, Nashville, TN	12/1/2021	300	20.0	%	16,128		37,680
		968			$	45,588	$	116,105

The table below provides information regarding the Company's property acquisition through an unconsolidated joint venture during the year ended December 31, 2020 (dollars in thousands):

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

On March 10, 2022 we acquired for $3,500,000 a 17.45% interest in a planned 240-unit development property located in Johns Island, SC.

The table below provides information regarding these four acquisitions (dollars in thousands):

Location	Buyout Date	No. of Units	Percentage of Interest Purchased		Purchase Price		New Ownership Percentage		Mortgage Balance at Acquisition
Civic Center I/II, Southaven, MS	5/4/2021	776	14.7	%	$	6,031	74.7	%	N/A
Bells Bluff, West Nashville, TN	8/18/2021	402	41.9	%	27,860		100	%	$	52,000
Crestmont at Thornblade, Greenville, SC	10/1/2021	266	10.0	%	1,600		100	%	26,425
Crossings of Bellevue, Nashville, TN	12/1/2021	300	20.0	%	16,128		100	%	37,680
		1,744			$	51,619			$	116,105

Schedule of Asset Acquisition Allocation of Book Value

The following table summarizes the purchase price allocation of the book values of those properties that are now wholly owned and is based on the proportionate share of the estimated fair value of the property on the acquisition date (dollars in thousands):

	Bells Bluff		Crestmont at Thornblade		Crossings of Bellevue		Total
Land	$	6,172	$	4,033	$	9,679	$	19,884
Building and Improvements	77,532		34,052		29,115		140,699
Total Land and building	$	83,704	$	38,085	$	38,794	$	160,583
Acquisition related lease intangibles	1,597		818		730		3,145
Total Assets	$	85,301	$	38,903	$	39,524	$	163,728
Acquisition related mortgage intangible	—		$	2,641	—		$	2,641

Schedule Of Amortization Of Mortgage Related Intangibles

The unamortized balance of acquisition related mortgage intangible, which is included in mortgages payable in the consolidated balance sheet, was $2,582,000 at December 31, 2021 and will be amortized as follows (dollars in thousands):

Year Ending December 31,	Amount
2022	$	365
2023	376
2024	386
2025	390
2026	395
Thereafter	670
Total	$	2,582

Schedule of Real Estate Disposals

The tables below provide information regarding the Company's disposition of real estate properties during the year ended December 31, 2021 (dollars in thousands):

Location	Sale Date	No. of Units	Sales Price		Gain on Sale
Kendall Manor - Houston, TX	5/26/2021	272	$	24,500	$	7,279
New York, NY (1)	8/20/2021	1	545		414
		273	$	25,045	$	7,693

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(1) Reflects the sale of a cooperative apartment unit.

The table below provides information regarding the disposition of real estate properties by an unconsolidated joint venture in the year ended December 31, 2021 (dollars in thousands):

Location	Sale Date	No. of Units	Sales Price		BRT's Share of Gain on Sale		Partner's Share of Gain on Sale		BRT Share of Loss of Extinguishment of Debt
Avenue Apts,Ocoee, FL	7/20/2021	522	$	107,661	$	19,518	$	20,150	$	4,474
Parc at 980, Lawrenceville, GA	7/28/2021	586	118,250		15,464		28,852		107
		1,108	$	225,911	$	34,982	$	49,002	$	4,581

The table below provides information regarding the sale of venture interests to our joint venture partners in the year ended December 31, 2021:

Location	Sale Date	No. of Units	Sales Price		BRT's Share of Gain on Sale
Anatole, Daytona Beach, FL	4/20/2021	208	$	7,540	$	2,244
OPOP Tower and Lofts, St. Louis, MO	11/4/2021	181	3,000		388
		389	$	10,540	$	2,632