NEW ENGLAND REALTY ASSOCIATES LIMITED PARTNERSHIP (NEN): debt financing — 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.

Key facts

Extracted from this filing and checked against the source text.

Debt Financings SEC 8-K Item 2.03/2.04 confidence 0.9

NEW ENGLAND REALTY ASSOCIATES LIMITED PARTNERSHIP incurred credit facility of $18,664,000 with KeyBank National Association at 5.84%.

Instrument: credit facility
Principal: $18,664,000
Counterparty: KeyBank National Association
Rate: 5.84%
Event: incurrence

Exact text from the filing

(i) Lender agreed to provide the Partnership with (x) a Future Advance in the amount of $18,664,000, at a fixed interest rate of 5.84%

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Debt Financings SEC 8-K Item 2.03/2.04 confidence 0.9

NEW ENGLAND REALTY ASSOCIATES LIMITED PARTNERSHIP incurred credit facility of $40,000,000 with KeyBank National Association at 5.99%.

Instrument: credit facility
Principal: $40,000,000
Counterparty: KeyBank National Association
Rate: 5.99%
Event: incurrence

Exact text from the filing

(y) a Future Advance in the amount of $40,000,000, at a fixed interest rate of 5.99%

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NEW ENGLAND REALTY ASSOCIATES LIMITED PARTNERSHIP filing history →

Source: SEC EDGAR

accession 0001104659-25-059327

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