NEN subsidiary signs $175M agreement to acquire Hill Estates and off-campus properties

NEW ENGLAND REALTY ASSOCIATES LIMITED PARTNERSHIP

Purchase price $175M for 391 residential condo units (Hill Estates) plus commercial buildings in Allston and Belmont, MA.
Deposit $5M at signing; closing expected May 15, 2025, with 30-day extension option requiring additional $3M deposit.
Financing to be a mix of cash and debt; subject to title due diligence expiring May 6 and other customary conditions.
Acquisition by wholly-owned subsidiaries from Oak Realty, Vale Realty, and Digiovanni Bros.

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