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ACQUISITIONS, DISPOSITIONS AND IMPAIRMENT CHARGES
12 Months Ended
Dec. 31, 2019
Business Combinations [Abstract]  
ACQUISITIONS, DISPOSITIONS AND IMPAIRMENT CHARGES ACQUISITIONS, DISPOSITIONS AND IMPAIRMENT CHARGES
Property Acquisitions 
In the year ended December 31, 2019, the Company purchased its partners 20% interest in Parkway Grande Apartments, located in San Marcos, TX for $1,608,000.
In the year ended December 31, 2018, the Company purchased its partner's 2.5% interest in Avalon Apartments on, located in Pensacola, FL., for $250,000 ,its partner's 20% interest in Kilburn Crossing located in Fredricksburg, VA., for $4,909,000 and its partner's 20% interest in Kendall Manor located in Houston, TX for $3,444,000.
NOTE 4—ACQUISITIONS, DISPOSITIONS AND IMPAIRMENT CHARGES (Continued)
The tables below provides information regarding the Company's property acquisitions, through unconsolidated joint ventures, and the properties they purchased during the years ended December 31, 2019 and 2018, (dollars in thousands):
2019
LocationPurchase
Date
No. of
Units
Purchase
Price
Acquisition
Mortgage
Debt
Initial BRT
Equity
Ownership PercentageCapitalized Property Acquisition Costs
Kannapolis, NC3/12/2019312  $48,065  $33,347  $11,231  65 %$559  
Trussville, AL5/7/2019328  43,000  32,250  11,625  80 %546  
Auburn, AL8/8/2019200  18,400  14,500  4,320  80 %140  
840  $109,465  $80,097  $27,176  $1,245  

2018
LocationPurchase
Date
No. of
Units

Purchase
Price
Acquisition
Mortgage
Debt
Initial BRT
Equity
Ownership PercentageCapitalized Property
Acquisition
Costs
Ocoee, FL2/7/2018522  $71,347  $53,060  $12,370  50 %$1,047  
Lawrenceville, GA2/15/2018586  77,229  54,447  15,179  50 %767  
Daytona Beach, FL4/30/2018208  20,500  13,608  6,900  80 %386  
Grand Prairie, TX5/17/2018281  30,800  18,995  7,300  50 %413  
Greenville, SC10/30/2018266  37,747  26,425  12,920  90 %509  
1,863  $237,623  $166,535  $54,669  $3,122  

Subsequent to December 31, 2019, the Company, through an unconsolidated joint venture, purchased a multi-family property in Wilmington North Carolina with 264-units for a purchase price of $38 million, including assumed mortgage debt of $23.2 million and $17.1 million of equity (which includes $3.4 million of equity from our joint venture partner).

Property Dispositions
The tables below provide information regarding the Company's disposition of real estate properties during the years ended December 31, (dollars in thousands):
2019
LocationSale DateNo. of UnitsSales PriceGain on SaleNon-Controlling Partner's Share of Gain on Sale
Houston, TX (two properties)7/11/2019384  $33,200  $9,938  $894  
New York, NY (1)12/16/2019 832  680  â€”  
385  $34,032  $10,618  $894  
(1) Reflects the sale of a cooperative apartment unit.
NOTE 4—ACQUISITIONS, DISPOSITIONS AND IMPAIRMENT CHARGES (Continued)
2018
LocationSale DateNo. of UnitsSales PriceGain on Sale
New York, NY (1)1/18/2018 470  439  
New York, NY (1)8/15/2018 450  424  
 $920  $863  
___________________________________
(1) Reflects the sale of a cooperative apartment unit.

The table below provides information regarding the disposition of a real estate property by an unconsolidated joint venture in the year ended December 31, 2019 (dollars in thousands):
LocationSale DateNo. of UnitsSales PriceGain on SaleBRT share of gain
Indianapolis, IN12/17/2019400  $36,500  $16,898  $9,933  

The table below provides information regarding the disposition of a real estate properties by unconsolidated joint ventures in the year ended December 31, 2018 (dollars in thousands):
LocationSale DateNo. of UnitsSales PriceGain on SaleNon-Controlling Partner's Share of Gain
Valley, AL2/23/2018618  51,000  9,712  4,547  
Palm Beach Gardens, FL2/25/2018542  97,250  41,831  20,593  
North Charleston, SC11/7/2018271  51,650  11,920  5,970  
Lake Saint Louis, MO12/18/2018420  41,200  7,593  2,077  
1,851  $241,100  $71,056  $33,187  

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 properties, when indicators of impairment are present and the expected undiscounted cash flows related to those properties are less than their carrying amounts. 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 years ended December 31, 2019 and 2018, no impairment charges were recorded.