On November 12, 2021, New England Realty Associates Limited Partnership (the ?Partnership?) and certain affiliates of the Partnership entered into a Rate Lock Authorization Agreement with KeyBank National Association (KeyBank) dated as of November 10, 2021 and paid the requisite deposit of $3,120,000. The agreement calls for a loan of approximately $156,000,000 at a fixed interest rate of 2.97%. The Partnership intends to use the proceeds to pay down approximately $65,000,000 of existing debt secured by 11 properties, along with approximately $5,000,000 in prepayment penalties. The remaining balance of the facility of approximately $86,000,000 will be used for general partnership purposes.