NEN enters $80.3M credit facility amendment with KeyBank at 4.33% fixed rate

NEW ENGLAND REALTY ASSOCIATES LIMITED PARTNERSHIP

Advanced $80,284,000 under amended Master Credit Facility; fixed interest rate 4.33%.
Used ~$37.1M to pay down existing debt on 4 properties plus ~$910K prepayment penalties.
Remaining ~$42.3M proceeds for general partnership purposes.
Facility secured by mortgages on Courtyard at Westgate, Hamilton Village, Stonebridge Apartments, Westgate Apartments.
Maturity and other terms per Master Credit Facility Agreement dated Nov 30, 2021.

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