Good day and welcome to the BRT Apartments Corporation Conference Call for the Third Quarter of 2020. Today’s conference is being recorded. At this time, I would like to turn the conference over to Evelyn Infurna of ICR. You may begin.

Thank you. Good day, everyone, and welcome to BRT Apartments conference call. On the call today is Jeffrey Gould, President and Chief Executive Officer. Also available are George Zweier, Chief Financial Officer; David Kalish, Senior Vice President; and Ryan Baltimore, Senior Vice President. As a reminder, this call is being webcast through the company’s website at www.brtapartments.com. Additionally, the company’s 10-Q supplemental information and earnings release are available for your review on the Investor Relations section of the website. Before we begin, I’d like to remind everyone that this conference call contains forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995 that are based on management’s current expectations, assumptions and beliefs. Forward-looking statements can often be identified by words such as believe, expect, estimate, anticipate, intend and similar expressions and variations or negative of these words. These forward-looking statements include, but are not limited to, statements regarding BRT’s strategy and expectations for the future. They are not guarantees of future results and are subject to risks, uncertainties and assumptions that could cause actual results to differ materially from those expressed in any forward-looking statements. Listeners should not place undue reliance on any forward-looking statements and are encouraged to review the company’s Form 10-Q for a more complete discussion of risks and other factors that could affect these forward-looking statements. Except as required by law, BRT does not undertake any obligation to publicly update or revise any forward-looking statements. This conference call also includes a discussion of funds from operations, or FFO; adjusted funds from operations, or AFFO; net operating income, or NOI; and information regarding our pro rata share of the revenues, expenses, NOI, assets and liabilities of BRT’s unconsolidated subsidiaries, all of which are non-GAAP financial measures of performance. These non-GAAP measures should be…

Thank you, Evelyn. I would like to welcome everyone to BRT’s third quarter conference call. We continue to see strong demand for rental housing in our markets, as rent collections continue to remain stable. We collected 98% of the rents build at our multifamily properties for the current quarter and collected 97.5% of rent build in October 2020. We have also remained current on all of our financial obligations. As mentioned on our previous calls, although we believe the multifamily sector will remain a strong asset class over the long-term, we anticipate that we will resume acquisition activities in early to mid-2021. We continue to focus on occupancy, collections and maintaining a strong cash position, while keeping the safety of our staff and residents a top priority. With respect to our portfolio, as of November 1, 2020, we owned or had interest in 39 multifamily properties consisting of 11,042 units in 11 states, including two properties in lease-up, 29 properties owned by unconsolidated joint ventures, and eight properties wholly-owned by BRT. BRT’s equity interest in these unconsolidated subsidiaries over which BRT actively oversees the management, generally ranges from 50% to 90%. We did not buy or sell any multifamily properties during the current quarter. Net loss attributed to common stockholders was $7.48 million or $0.44 per diluted share in the current quarter versus net income of $3.27 million or $0.20 per diluted share in the 2019 quarter. The current quarter includes $3.64 million non-cash impairment charge related to a legacy asset of vacant land parcel in Daytona, Florida. FFO grew to $4.56 million in the current quarter or $0.27 per diluted share compared to $1.96 million in 2019 quarter or $0.12 per diluted share. AFO increased to $4.89 million for the current quarter or $0.28 per diluted share compared to…

Thank you. Overall to summarize, things are going well for BRT during very difficult times in the world and we’re pleased with our performance to-date. As I said earlier, I am proud of our team. And thank you all for joining us today. If you have any further questions, feel free to call us at any time. Thank you very much.

This concludes today’s conference. You may disconnect your lines at this time. Thank you for your participation and have a great day.