Item 8.01 Other Events.

Refer to the current report on Form 8-K of AMREP Corporation (the "Company"), dated September 11, 2020, which was filed with the Securities and Exchange Commission on September 11, 2020, for detail regarding the Company's share repurchase program.

On October 27, 2020, the Company acquired 675,616 shares of common stock of the Company, representing 8.3% of the Company's outstanding shares, at a price of $6.18 per share in a privately negotiated transaction pursuant to its share repurchase program. As of the date of the repurchase, the repurchased shares were retired and returned to the status of authorized but unissued shares of common stock.

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