New England Realty enters $156M credit facility at 2.97% fixed, refinances $65M debt

NEW ENGLAND REALTY ASSOCIATES LIMITED PARTNERSHIP

Initial advance of $156M at 2.97% fixed rate from Keybank National Association.
Proceeds used to repay ~$65M existing debt secured by 11 properties plus $3.1M prepayment penalties.
Remaining ~$88M allocated for general partnership purposes.
Obligations secured by mortgages on certain properties; facility dated Nov 30, 2021.

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