New England Realty Acquires Hill Estates Portfolio for $175M in Belmont, MA

NEW ENGLAND REALTY ASSOCIATES LIMITED PARTNERSHIP

Acquisition closed June 18, 2025; purchase price $175M; includes 396 residential units and commercial properties.
Financing: $67.5M interim loan from KeyBank at SOFR+150bps, due Dec 17, 2025.
Also borrowed $40M on master credit facility at 5.99% fixed; balance from Treasury bill sales.
Amendment filed to provide audited and pro forma financial statements for Hill Estates.
Properties in Belmont, Middlesex County, MA; acquired from Oak Realty, Vale Realty, Digiovanni Bros.

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