NEN secures $79.96M fixed-rate addition loan at 4.33% to refinance four properties

NEW ENGLAND REALTY ASSOCIATES LIMITED PARTNERSHIP

Loan amount $79,955,000 at 4.33% fixed rate, 120-month term, 420-month amortization.
Proceeds used to pay down $37,147,000 of existing debt plus $1,895,000 in prepayment penalties.
Remaining $40,913,000 allocated for general partnership purposes.
Good faith deposit of $1,599,100 paid; closing targeted by June 10, 2022.
Properties securing loan: Courtyard at Westgate, Hamilton Village, Stonebridge Apartments, Westgate Apartments.

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