NEW ENGLAND REALTY ASSOCIATES LIMITED PARTNERSHIP (NEN): M&A transaction — New England Realty closes $172M acquisition of 396-unit Hill Estates in Belmont, MA

On June 18, 2025, Hill Estates NERA, LLC, a Delaware limited liability company (the “Hill Estates” or “Borrower”), a wholly-owned subsidiary of New England Realty Associates Limited Partnership, a Massachusetts limited partnership (the “Partnership”), entered into an Interim Loan Agreement (the “Loan Agreement”) with KeyBank National Association, a national banking association (“Lender”). Pursuant to the Loan Agreement, the Lender agreed to provide a loan in the principal amount of $67,500,000 (the “Loan”), with the Partnership acting as the Guarantor (as defined in the Loan Agreement).

commercial properties located at 1 Vale Road (aka 4 Vale Road), 4 Hill Road and 55 Brighton Street, Belmont, Massachusetts (the “Property”) for an aggregate purchase price of $172,000,000 in cash (the “Acquisition”). Hill Estates funded the $104,500,000 cash portion of the purchase price out of the cash reserves and the remaining $67,500,000 financed from the

In addition, as part of the acquisition, Brighton 26 & Concord 90 NERA, LLC, a Massachusetts limited liability company, a wholly-owned subsidiary of the Partnership, purchased two non-contiguous commercial properties located at 26 Brighton Avenue, and 90 Concord Avenue, Belmont, Massachusetts from Oak Realty and Service Company, LLC, Vale Realty and Service Company, LLC and Digiovanni Bros., Inc. for an aggregate purchase price of $3,000,000 funded with cash.