NHP Foundation Acquires 218-Unit Multifamily Community In Germantown For $53.7 Million From Elme Communities

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.