"BRT REALTY TRUST (NYSE:BRT) reported today that it acquired by deed in lieu of foreclosure a 308 unit garden apartment complex located in Chattanooga, TN. The property, which secured a first mortgage loan with an outstanding principal balance of $25.7 million, was deeded to BRT by the borrower in accordance with the terms of a "walk-away guarantee" provided by the borrower's principal."
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