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SUBSEQUENT EVENTS | 3 Months Ended
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Mar. 31, 2022
SUBSEQUENT EVENTS |
SUBSEQUENT EVENTS | NOTE 17. SUBSEQUENT EVENTS From April 1, 2022 through May 5, 2022, the Partnership has purchased 9,276 Depository Receipts. The average price was $82.09 per receipt, or $2,462.70 per unit. The total cost was $762,172.The Partnership is required to purchase 73 Class B units and 4 General Partnership units at a cost of $180,838 and $9,518 respectively. ​ In May 2022, the Partnership approved a quarterly distribution of $9.60 per Unit ($0.32 per Receipt), payable on June 30, 2022. In addition to the quarterly distribution, there was a special distribution of $38.40 per Class A unit ($1.28 per Receipt) payable on March 31,2022. On April 25, 2022, Martina N. Alibrandi was appointed to the Board of Directors of NewReal, Inc. and as a member of the Audit Committee of the NewReal, Inc. Board. On April 25, 2022, New England Realty Associates Limited Partnership (the “Partnership”) and certain affiliates of the Partnership entered into an addition to the Rate Lock Authorization Agreement (the “Agreement”) with KeyBank National Associates (“KeyBank”) dated as of November 10, 2021, and paid the requisite deposit of $1,599,100. The agreement calls for a loan of approximately $79,955,000 at a fixed interest rate of 4.33%. The Partnership intends to use the proceeds to pay down approximately $37,147,000 of existing debt secured by 4 properties, along with approximately $1,895,000 in prepayment penalties. The remaining balance of the loan proceeds of approximately $40,913,000 will be used for general partnership purposes. ​

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- Definition The entire disclosure for significant events or transactions that occurred after the balance sheet date through the date the financial statements were issued or the date the financial statements were available to be issued. Examples include: the sale of a capital stock issue, purchase of a business, settlement of litigation, catastrophic loss, significant foreign exchange rate changes, loans to insiders or affiliates, and transactions not in the ordinary course of business. + References Reference 1: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 855 -URI http://asc.fasb.org/topic&trid=2122774 Reference 2: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 855 -SubTopic 10 -Section 50 -Paragraph 2 -Subparagraph (a) -URI http://asc.fasb.org/extlink&oid=6842918&loc=SL6314017-165662 + Details
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