At June 30, 2026 and December 31, 2025, the Company held interests in unconsolidated joint ventures that own ten multifamily properties (the "Unconsolidated Properties"). The condensed balance sheets below present information regarding such properties (dollars in thousands):


	June 30, 2026		December 31, 2025
ASSETS
Real estate properties, net of accumulated depreciation of $103,044 and $95,747	$	358,068	$	363,451
Cash and cash equivalents	7,194		7,506
Other assets	9,775		11,756

Total Assets	$	375,037	$	382,713

LIABILITIES AND EQUITY
Liabilities:
Mortgages payable, net of deferred costs of $1,063 and $1,106	$	283,772	$	285,379
Accounts payable and accrued liabilities	8,277		9,435
Total Liabilities	292,049		294,814
Commitments and contingencies
Equity:
Total unconsolidated joint venture equity	82,988		87,899
Total Liabilities and Equity	$	375,037	$	382,713

BRT's interest in joint venture equity	$	43,297	$	46,121


	June 30, 2026		December 31, 2025
Land	$	54,272	$	54,272
Building	387,415		387,364
Building improvements	19,425		17,562
Real estate properties	461,112		459,198
Accumulated depreciation	(103,044)		(95,747)
Total real estate properties, net	$	358,068	$	363,451

At June 30, 2026 and December 31, 2025, the weighted average interest rate on the mortgages payable is 4.19% and 4.21%, respectively, and the weighted average remaining term to maturity is 3.0 years and 3.3 years, respectively. On June 9, 2026, the Stono Oaks joint venture exercised its right to extend the $37,200,000, 5.83% floating interest rate construction loan secured by its assets through June 8, 2027. Such venture is also entitled, subject to the satisfaction of certain conditions, to further extend the loan maturity through June 2028.


	Three Months Ended June 30,				Six Months Ended June 30,
	2026		2025		2026		2025
Revenues:
Rental and other revenue	$	13,847	$	11,927	$	27,279	$	23,636
Total revenues	13,847		11,927		27,279		23,636

Expenses:
Real estate operating expenses	6,878		5,744		13,383		10,917
Interest expense	3,241		2,770		6,436		5,515
Depreciation and amortization	3,917		3,163		8,115		6,911
Total expenses	14,036		11,677		27,934		23,343
Total revenues less total expenses	(189)		250		(655)		293
Other equity (loss) earnings	145		18		139		108





Net (loss) income	$	(44)	$	268	$	(516)	$	401

BRT's equity in (loss) earnings	$	(1)	$	299	$	(309)	$	712