Company: NEN
Filing Date: 2025-04-17
Form Type: 8-K
Source: 0001104659-25-036039
Chunk: 1

Company: NEW ENGLAND REALTY ASSOCIATES LIMITED PARTNERSHIP
Filing Date: 2025-04-17
Form: 8-K
Item: Item 1.01
Chunk 1
---
000
for the Off Campus Properties. The Company provided a $5,000,000 deposit at signing of the Purchase Agreement, refundable upon termination
of the Purchase Agreement due to uncured title objections, a Major Casualty (in excess of $500,000), or any Seller default. The purchase
and sale of the property is subject to a title due diligence period for the Company which will expire on May 6, 2025. In addition, the
Company may perform any other inspections it deems necessary up until the closing date. The Company expects closing of the purchase on
May 15, 2025, subject to the satisfaction of closing conditions. The Company has the right to extend the 30-day closing date by an additional
30 days, upon notice and payment of an additional $3,000,000 deposit. The Company plans to finance the purchase with cash and debt.

The Company’s obligation to purchase the Hill Estates Properties,
the commercial properties and the Off Campus Properties is conditioned upon (i) delivery of all required items to the Company as set forth
in the Purchase Agreement; (ii) all of Seller’s representations and warranties contained in the Purchase Agreement being true and
correct in all material respects as of the closing; (iii) Seller having performed and observed all covenants made in the Purchase Agreement
in all material respects; and (iv) the purchased property being in the same condition as of the closing as it was on the date the Purchase
Agreement was signed, reasonable wear and tear and damage by minor casualty only excepted.

The Purchase Agreement contains customary representations and warranties
made by the parties thereto and customary covenants and agreements.

The foregoing summary of the Purchase Agreement does not purport to
be complete and is qualified in its entirety by reference to the full text thereof, a copy of which is set forth in Exhibit 1.01 attached
to this Current Report on Form 8-K and incorporated into this item 1.01 by reference.

This Current Report on Form 8-K includes “forward-looking statements”
within the meaning of the federal securities laws. Statements made in this release that are not strictly statements of historical facts,
including the Company’s expectations regarding: (i) the satisfaction of the conditions to the closing of the proposed purchase of
the Hill Estate Properties, the commercial properties and the Off Campus Properties and (ii) the expected occurrence of such closing and
the timing thereof. Statements of anticipated future results are based on current expectations and are subject