BRT ENTERS INTO JOINT VENTURE

GREAT NECK, N.Y. — Great Neck-based BRT Realty Trust has entered into a joint venture, known as BRTL, with an affiliate of Torchlight Investors. The joint venture has the right to acquire short-term commercial real estate mortgage loans originated by BRT. The maximum capitalization is $100 million, of which Torchlight will fund 80 percent and BRT will fund 20 percent. BRT will manage the new entity.