December 18, 2011
BOSTON- The New England Realty Associates Limited Partnership (NYSE Amex: NEN) has authorized a 3-for-1 forward split of its Depositary Receipts listed on the NYSE Amex with a record date of December 16, 2011.
As part of a new Compliance Plan accepted by the NYSE Amex on November 10, 2011, the Partnership also made a concurrent adjustment of the exchange ratio of Depositary Receipts for Class A Units of the Partnership from 10-to-1 to 30-to-1. The new plan will be effective as the opening of trading on the NYSE Amex on January 3, 2012. New England Realty Associates Limited Partnership was founded in 1977 and is based in Allston, Massachusetts. It has paid uninterrupted dividends to its limited partners for 34 years.
New England Realty Associates limited Partnership engages in the acquisition, development, holding for investment, operation, and sale of real estate in the United States. The company owns and operates various residential apartment buildings, condominium units, and commercial properties in Massachusetts and New Hampshire. As of June, 2011, it owned 2,317 residential apartment units in 20 residential and mixed-use complexes; a commercial shopping center in Framingham, Massachusetts; commercial buildings in Newton and Brookline; and mixed-use properties in Boston, Brockton, and Newton, Massachusetts.