Updated May 24, 2026
NHP Foundation Acquires 218-Unit Multifamily Community In Germantown For $53.7 Million From Elme Communities
2 Observation Court
$53,700,000
Units
218
Asset Type
MultiFamily
Closing
May 21, 2026
About this deal
AI
The 218-unit Hadley Germantown is an affordable housing community located at 2 Observation Court in Germantown, MD. NHP Foundation acquired the property for approximately $53.7 million, representing a price per unit of $246,330.
Summary of transaction details:
- Property Type: Multifamily
- Transaction Amount: $53,700,000
- Buyer: NHP Foundation
- Seller: Elme Communities
- Units: 218
- Market: Germantown, MD
NHP Foundation financed the acquisition using tax-exempt 501(c)(3) bonds, backed by KeyBanc, the Wisconsin Public Finance Authority, and U.S. Bank, highlighting the financial structure that enabled this transaction.
On the Map
$53,700,000
MultiFamily
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Players
Market MultiFamily Market Snapshot
Boundary boundary · MultiFamily · Sale transactions
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Purchase Price
Annual NOI
Loan Amount
Interest Rate (%)
Loan Term (yrs)
Down Payment (%)
Cap Rate
0.30%
Cash-on-Cash
-0.08%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93