Investor Presentaiton

Acquisition Approach and Strategy Harnessing Partner Network to Facilitate Capital Deployment PAGE 11 ACTIVE CAPITAL PARTNER CONSERVATIVE UNDERWRITING BRT APARTMENTS TYPICAL DEAL METRICS Actively involved in operations and asset management Strong local partner expertise accelerates site selection and enhances diligence process Efficient underwriting: management primarily considers deals already under contract by JV Partner, resulting in a high "hit rate" Leverages relationship with JV partner to enhance quality of due diligence Working with partner maximizes ability to hone in on best locations for investment $4 million to $20 million equity investment Generally provide 65% to 80% of equity requirement, pari passu 60% 65% LTV first mortgage financing Targeted 6% to 7% cash- on-cash yield day one Targeted 10% to 20% IRR Willing to take preferred/ senior equity position to enhance returns and mitigate risk

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