---
schema_version: "secwatch.filing_event.v1"
accession: "0001104659-25-062493"
form_type: "8-K"
ticker: "NEN"
cik: "0000746514"
company_name: "NEW ENGLAND REALTY ASSOCIATES LIMITED PARTNERSHIP"
filed_at: "2025-06-25T23:59:59+00:00"
generated_at: "2026-05-18T21:42:14.082536+00:00"
event_type: "m_and_a"
sentiment: "neutral"
materiality_score: 0.7
calibrated_materiality_score: 0.7
confidence: "high"
source: SEC EDGAR
---

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

## Summary
- 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.

## SEC filing metadata
- accession: 0001104659-25-062493
- form_type: 8-K
- ticker: NEN
- cik: 0000746514
- company_name: NEW ENGLAND REALTY ASSOCIATES LIMITED PARTNERSHIP
- filed_at: 2025-06-25T23:59:59+00:00
- event_type: m_and_a
- sentiment: neutral
- materiality_score: 0.7
- calibrated_materiality_score: 0.7
- confidence: high
- sec_items: 1.01, 2.01, 2.03, 7.01, 9.01
- EDGAR index: https://www.sec.gov/Archives/edgar/data/746514/000110465925062493/0001104659-25-062493-index.htm
- EDGAR primary document: https://www.sec.gov/Archives/edgar/data/746514/000110465925062493/tm2518827d1_8k.htm

## Machine-readable alternates
- HTML: https://secwatch.observer/filing/0001104659-25-062493
- JSON: https://secwatch.observer/filing/0001104659-25-062493.json
- Plain text: https://secwatch.observer/filing/0001104659-25-062493.txt

## Key facts
- Debt Financings
  NEW ENGLAND REALTY ASSOCIATES LIMITED PARTNERSHIP incurred loan of $67,500,000 with KeyBank National Association at SOFR rate plus 150 basis points maturing December 17, 2025.
  - Instrument: loan
  - Principal: $67,500,000
  - Counterparty: KeyBank National Association
  - Rate: SOFR rate plus 150 basis points
  - Maturity: December 17, 2025
  - Event: incurrence
  source text: 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).
  evidence_url: https://www.sec.gov/Archives/edgar/data/746514/000110465925062493/0001104659-25-062493-index.htm
- M&A Transactions
  NEW ENGLAND REALTY ASSOCIATES LIMITED PARTNERSHIP completed an acquisition involving Oak Realty and Service Company, LLC, Vale Realty and Service Company, LLC and Digiovanni Bros., Inc. for $172,000,000 in cash (closed 2025-06-18).
  - Action: acquisition
  - Counterparty: Oak Realty and Service Company, LLC, Vale Realty and Service Company, LLC and Digiovanni Bros., Inc.
  - Consideration: $172,000,000 in cash
  - Closing: 2025-06-18
  source text: 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
  evidence_url: https://www.sec.gov/Archives/edgar/data/746514/000110465925062493/0001104659-25-062493-index.htm
- M&A Transactions
  NEW ENGLAND REALTY ASSOCIATES LIMITED PARTNERSHIP completed an acquisition involving Oak Realty and Service Company, LLC, Vale Realty and Service Company, LLC and Digiovanni Bros., Inc. for $3,000,000 (closed 2025-06-18).
  - Action: acquisition
  - Counterparty: Oak Realty and Service Company, LLC, Vale Realty and Service Company, LLC and Digiovanni Bros., Inc.
  - Consideration: $3,000,000
  - Closing: 2025-06-18
  source text: 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.
  evidence_url: https://www.sec.gov/Archives/edgar/data/746514/000110465925062493/0001104659-25-062493-index.htm

This AI-assisted summary is a reading aid. Review the linked SEC EDGAR filing before relying on any specific claim.