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Elme Communities Sells Watergate 600 Office In Washington DC For $52.5M
SOLD
$52,500,000
Office
Sold
SOLD
Elme Communities Sells Watergate 600 Office In Washington DC For $52.5M
600 New Hampshire Avenue Northwest
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Sold
Summary
Asset Type:Office
Transaction Type:Sale
The property involved in the transaction is an office asset located at 600 New Hampshire Avenue Northwest, Washington, DC. It was sold for a price of $52,500,000, which reflects a significant decrease of more than 60% compared to its 2017 purchase price of $135,000,000.
Summary of transation details:
- Property Type: Office
- Transaction Amount: $52,500,000
- Seller: Elme Communities
- Market: Washington, DC
- Sale Date: 03/09/2026
Elme Communities is preparing to dissolve later this year, which has influenced the decision to sell Watergate 600 at a reduced price. This transaction marks a notable shift in the company's asset management strategy within the Washington, DC market.
Players
SELLER
Details
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Deal Type
30 years
10 years
Operating Income
Operating Expenses (Annual)
Net Operating Income (NOI)
$2,800,000.01
Debt Service Coverage Ratio (DSCR)
0.94x
Cap Rate
5.33%
Cash Flow (Annual)-$186,521.40
Cash-on-Cash Return-1.27%
Monthly Debt Service$248,876.78
Annual Debt Service$2,986,521.41
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