GREAT NECK, NY--(Marketwired - Mar 20, 2017) - BRT Apartments Corp. (f/k/a BRT Realty Trust) (NYSE: BRT) announced it successfully completed a planned conversion to a Maryland corporation from a Massachusetts business trust. The conversion was effective at 12:01 a.m., eastern time, on March 18, 2017.
The conversion had no impact on the business or management of the Company and has been treated as a tax-free redomestication under relevant Internal Revenue Service regulations. Investors received one share of common stock for each share of beneficial interest held at the time of the conversion.
The Company undertook the conversion, among other things, to align itself with its peers, many of which are corporations organized in Maryland.
The Company's common stock will continue to be listed on the New York Stock Exchange and will trade under the symbol "BRT".
BRT is a real estate investment trust that owns, operates and develops multi-family properties, and owns, operates and develops other commercial and mixed use real estate assets. For additional information on BRT's operations, activities and properties, please visit its website at www.brtrealty.com.