New England Realty closes $172M acquisition of 396-unit Hill Estates in Belmont, MA

NEW ENGLAND REALTY ASSOCIATES LIMITED PARTNERSHIP

Acquired Hill Estates in Belmont, MA: 396 residential units, 4 commercial units, for $172M cash.
Funded via $104.5M cash reserves and $67.5M bridge loan from KeyBank (SOFR+150bps, due Dec 17, 2025).
Also purchased two nearby commercial properties for $3M in cash.
Will operate on-site management, provide online tenant services, and plan capital improvements including full unit renovations.
Off-site commercial properties to be sold as they are not part of core residential business.

item 1.01item 2.01item 2.03item 7.01item 9.01

This headline and bullets were generated automatically by deepseek-v4-flash:cloud@v2 from the public filing. Read the source on SEC.gov before relying on any specific claim. Not investment advice. See methodology for how this pipeline works.