BRT REALTY TRUST (NYSE: BRT) announced that it had entered into a contract to sell a 350 unit multi-family property in Atlanta, Georgia for approximately $37 million. It is anticipated the sale will be completed in the fourth quarter of fiscal 2016. Completion of the sale is subject to customary closing conditions and is conditioned upon the lender's approval of the assumption of the existing debt by the purchaser. BRT estimates that its share of the gain on the sale will be approximately $5 million.

About BRT Realty Trust:

BRT is a real estate investment trust that either directly, or through joint ventures, owns and operates multi-family properties and other real estate assets. Additional financial and descriptive information on BRT, its operations and its portfolio, is available at BRT's website at: www.BRTRealty.com. Interested parties are encouraged to review the BRT's Annual Report on Form 10-K for the year ended September 30, 2015, and the other reports filed thereafter with the Securities and Exchange Commission for additional information.