New England Realty secures $58.7M in advances (5.84%/5.99%); $40M for Hill Estates purchase

NEW ENGLAND REALTY ASSOCIATES LIMITED PARTNERSHIP

Entered second amendment to Master Credit Facility; obtained $18.664M advance at 5.84% to refinance Hamilton Highlands loan from Brookline Bank.
Also obtained $40M advance at 5.99%; combined with cash and bridge loan to purchase Hill Estates property in Belmont, MA.
Hamilton Highlands, LLC joined as additional borrower; Fannie Mae holds advances.

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