M&A - NEW ENGLAND REALTY ASSOCIATES LIMITED PARTNERSHIP

Form Type: 8-K

Filing Date: 2025-06-25

Corporate Action: Acquisition

Type: New

Accession Number: 000110465925062493

Filing Summary: On June 18, 2025, Hill Estates NERA, LLC, a wholly-owned subsidiary of New England Realty Associates Limited Partnership, entered into an Interim Loan Agreement with KeyBank National Association for a loan of $67,500,000 to acquire properties in Belmont, Massachusetts. The acquisition involves 396 residential units and commercial spaces, funded partly from cash reserves and the loan proceeds. The total acquisition cost was $172,000,000. Additionally, the Partnership issued a press release on June 19, 2025, announcing the completion of this acquisition, which is further detailed in the document.

Form Type: 8-K

Filing Date: 2025-04-17

Corporate Action: Acquisition

Type: New

Accession Number: 000110465925036039

Filing Summary: On April 15, 2025, New England Realty Associates Limited Partnership entered into a Purchase and Sale Agreement for the acquisition of multifamily and commercial properties located across several addresses. The properties include 391 residential condominium units known as the Hill Estates, along with various commercial structures. The total purchase price is $175 million, comprising $172 million for the Hill Estates and three commercial buildings, and $3 million for additional properties. A $5 million deposit was made, refundable under certain conditions. Due diligence will conclude by May 6, 2025, with anticipated closing on May 15, 2025, subject to various conditions being met, including the accuracy of seller representations and the property’s condition. The acquisition will be financed through a combination of cash and debt. The report includes forward-looking statements regarding the transaction's completion and related financing.