New England Realty Associates Partnership(US:NEN)2026-03-13 17:44Ownership and Properties - As of February 1, 2026, the Partnership owned a 40-50% interest in 7 residential and mixed-use complexes, totaling 688 residential units and one commercial unit[17]. - The Partnership completed property improvements in 2025 at a total cost of approximately $30,691,000, with plans to invest approximately $17,069,000 in capital improvements for all properties in 2026[33]. - The Partnership purchased a mixed-use property in Belmont, Massachusetts for $172,000,000, financed through a $40,000,000 borrowing on the Master Credit Facility and a $67,500,000 interim mortgage loan[32]. Financial Performance - In 2025, the Partnership paid an aggregate distribution of $144.00 per Unit, totaling $16,793,527, compared to $84.00 per Unit in 2024, totaling $11,244,559[20]. - The Partnership's line of credit agreement includes a $25,000,000 revolving line with a floating interest rate, and as of December 31, 2025, the Partnership was in compliance with financial covenants[36]. Debt and Financing - As of December 31, 2025, the Partnership had approximately $705,827,000 in long-term debt, all requiring fixed interest payments[218]. - The Partnership's Master Credit Facility Agreement includes an initial advance of $156,000,000 at a fixed interest rate of 2.97%, maturing on December 31, 2031[25]. Share Repurchase - The Partnership has repurchased 1,559,409 Depositary Receipts at an average price of $32.06 per receipt, totaling approximately $56,911,000 since August 20, 2007[23]. Risk Management - The Partnership's market risk primarily involves interest rate risk, with no variable rate debt as of December 31, 2025[217]. - The Partnership's Advisory Committee reviews proposed acquisitions and investments, but has no binding power except for certain approvals[38].