Investor Presentaiton

Joint Venture Strategy Creating Value through Strong Operating Partnerships Strong Deal Flow Flexibility BRT APARTMENTS Generate opportunities from both existing partners and potential partners through a strong network built from the successful lending platform and equity partnerships in the past Have never advertised publicly ■ Ability to enter and exit markets through a strong network ■ High "hit-rate" and efficiencies on deals as we only review deals when under contract Have the ability to choose best-in-class third party management companies where the partners do not have a vertically integrated platform Value-Creation through Local Partners Local operators with expertise in specific markets provide value-added opportunities through extensive market knowledge ■ Able to get "off-market" deals through the partners' relationships with local brokers and owners PAGE 10

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