2 unchanged sentences
The Partnership’s information technology, communication networks, system applications, accounting and financial reporting platforms and related systems, and those that are offered to residents and tenants, are integral to the operation of the business.
−Removed: The Partnership utilizes these systems, among others, for financial analysis, management, and reporting, for facilitation of operations, including for the initiation, generation, and completion of resident leasing, for internal communications, and for various other aspects of the business.
+Added: The Partnership utilizes these systems, among others, for financial analysis, management, and
+Added: reporting, for facilitation of operations, including for the initiation, generation, and completion of resident leasing, for internal communications, and for various other aspects of the business.
The Partnership’s cybersecurity strategy is focused on detection, protection, incident response, security risk management and mitigation, and resiliency of the cybersecurity infrastructure.
175 unchanged sentences
In December of 2023, the Partnership received 40B approval to construct a 72 unit apartment complex.
−Removed: Management expects to start the construction project in 2024.
+Added: Management started the construction project in 2024.
In order to comply with the permanent financing requirements for a 40B project, Mill Street Development signed a term sheet for a loan of up to $15 million, to be funded upon completion of the development project.
22 unchanged sentences
This mixed-use property includes 15,908 square feet of rentable commercial space.
−Removed: As of February 1, 2024, the commercial space was fully occupied, and the average rent per square foot was $32.80 For mortgage balance, interest rate and maturity date information see “Apartment Complexes” above.
+Added: As of February 1, 2025, the commercial space was fully occupied, and the average rent per square foot was $33.15.
+Added: For mortgage balance, interest rate and maturity date information see “Apartment Complexes” above.
HAMILTON OAKS ASSOCIATES, LLC.
8 unchanged sentences
This mixed-use property includes 1,050 square feet of rentable commercial space.
−Removed: The property was fully rented as of February 1, 2024, and the average rent per square foot as of that date was $40.50.
+Added: The property was fully rented as of February 1, 2025, and the average rent per square foot was $46.20.
For mortgage balance, interest rate and maturity date information see “Apartment Complexes” above.
1 unchanged sentence
The shopping center consists of 38,268 square feet of rentable commercial space.
−Removed: As of February 1, 2024, this property was fully occupied, and the average net rent per square foot was $13.23.
−Removed: A new tenant, Blue Pearl Operations LLC, signed a lease on January 9, 2023 that includes a tenant fit up period of the earlier of 12 months from lease signing or such time as the tenant receives a certificate of occupancy.
−Removed: As of December 31, 2023, no rent is due from this tenant.
+Added: As of February 1, 2025, this property was fully occupied and the average rent per square foot was $26.33.
HAMILTON LINEWT ASSOCIATES, LLC.
11 unchanged sentences
On July 14, 2023, the Partnership purchased a 52 unit mixed use property in the South End neighborhood of Boston, MA comprised of three buildings at 26-30 Rutland Street, 105-117 West Concord Street and 475 Shawmut Avenue, and 3,397 square feet of commercial space for a purchase price of approximately $27,500,000.
−Removed: The commercial space was fully rented as of February 1, 2024, and the average rent per square foot as of that date was $44.09.
+Added: The commercial space was fully occupied as of February 1, 2025 and the average rent per square foot was $43.02.
The following information is provided for commercial leases :
65 unchanged sentences
The total purchase price was $56,000,000.
−Removed: The Partnership sold 137 units as condominiums.
+Added: The Joint Venture sold 137 units as condominiums.
The assets were combined with Hamilton on Main Apartments.
−Removed: Hamilton on Main Apartments, LLC is known as Hamilton Place.
−Removed: In 2005, Hamilton on Main Apartments, LLC obtained a ten-year mortgage on the three buildings to be retained.
−Removed: The mortgage was $16,825,000, with interest only of 5.18% for three years and amortizing on a 30-year schedule for the remaining seven years when the balance is due.
−Removed: The net proceeds after funding escrow accounts and closing costs on the mortgage were approximately $16,700,000, which were used to reduce the existing mortgage.
+Added: Hamilton on Main, LLC is known as Hamilton Place.
In August 2014, the property was refinanced with a 10 year mortgage in the amount of $16,900,000 at 4.34% interest only.
−Removed: The Joint Venture Partnership paid off the prior mortgage of approximately $15,205,000 with the proceeds of the new mortgage and distributed $850,000 to the Partnership.
+Added: The Joint Venture paid off the prior mortgage of approximately $15,205,000 with the proceeds of the new mortgage and distributed $850,000 to the Partnership.
The costs associated with the refinancing were approximately $161,000.
−Removed: At December 31, 2023, the balance of this mortgage before unamortized deferred financing costs is approximately $16,900,000.
+Added: On August 23, 2023, Hamilton on Main Apartments, LLC (the “Borrower”), a 50% owned joint venture of the Partnership, received notice from KeyBank, as servicer for the lender of a $16,900,000 loan, indicating that the Borrower failed to comply with certain terms of the loan documents pertaining to the transfer of interests in the Borrower that occurred on the occasion of Harold Brown’s death, and that such transfer constitutes an event of default under the loan documents.
+Added: While the Borrower has disputed that any events of default actually exist, it worked diligently with KeyBank to obtain KeyBank’s consent to the transfer.
+Added: On March 8, 2024, the Borrower received notice from KeyBank that it was providing ex-post facto consent to the transfer of interest subject to certain conditions being met by the Borrower.
+Added: The Partnership’s share of costs associated with the transfer of interests in the Borrower was approximately $107,000.
+Added: On April 18, 2024 the Borrower and KeyBank executed amended loan documents reflecting the transfer of interest in the Borrower.
+Added: In conjunction with the execution of the amended loan documents, KeyBank provided a courtesy reduction equal to 50% of the transfer fee.
+Added: In August 2024, the property was refinanced with a 10 year mortgage in the amount of $23,589,000 at 5.425% interest only.
+Added: The Joint Venture paid off the prior mortgage of approximately $16,900,000 with the proceeds of the new mortgage and distributed $2,000,000 to the Partnership.
+Added: The costs associated with the refinancing were approximately $243,000.
In 2018, the carrying value of the investment fell below zero.
The Partnership will continue to account for this investment using the equity method of accounting, although the Partnership has no legal obligation to fund its share of any future operating deficiencies, if needed.
−Removed: This investment is referred to as Hamilton on Main Apartments, LLC.
+Added: At December 31, 2024, the balance of the mortgage before unamortized deferred finance is $23,589,000.
+Added: The investment is referred to as Hamilton on Main LLC.
HAMILTON MINUTEMAN, LLC.
61 unchanged sentences
LEGAL PROCEEDING S
−Removed: The Partnership, the Subsidiary Partnerships, and the Investment Properties and their properties are not presently subject to any material litigation, and, to management’s knowledge, there is not any material litigation
−Removed: presently threatened against them.
+Added: The Partnership, the Subsidiary Partnerships, and the Investment Properties and their properties are not presently subject to any material litigation, and, to management’s knowledge, there is not any material litigation presently threatened against them.
The properties are occasionally subject to ordinary routine legal and administrative proceedings incident to the ownership of residential and commercial real estate.
3 unchanged sentences
Compared sentence by sentence after normalising whitespace, quotation marks, case and digits, so re-formatting and restated figures do not read as changed language. Wording changes appear as one removal and one addition. The current filing and the prior one are authoritative.