AIR Communities Acquires The Elm Multifamily Property For $220M In Bethesda | 4710 Elm Street | MultiFamily | Sale

Summary

Sale

MARYLAND

MultiFamily

7,500 sqft

AIR Communities has acquired The Elm, a multifamily property located at 4710 Elm Street in Bethesda, MD. The property consists of 456 units with an average price per unit of $482,456. The total square footage of the property is 7,500, with an average price per square foot of $29,333. The sale price for The Elm was $220 million.

Summary of transaction details

Property Type: Multifamily
Transaction Amount: $220,000,000
Units: 456
Price Per Unit: $482,456
Total Square Footage: 7,500
Price Per Square Foot: $29,333
Address: 4710 Elm Street, Bethesda, MD
Market: Bethesda, MD

Terry Considine, representing AIR Communities, purchased The Elm from Oliver Carr of Carr Properties. This acquisition marks an important investment for AIR Communities, further expanding their presence in the multifamily market. The deal was finalized on 09/05/2023, solidifying the partnership between Terry Considine and Oliver Carr in this real estate transaction.

Details

Deal Summary

SOLD

IMAGE: Terry Considine & Oliver Carr DATE: 09/05/2023 ADDRESS: 4710 Elm Street MARKET: Bethesda, MD ASSET TYPE: Multifamily BUYER: Terry Considine - AIR Communities SELLER: Oliver Carr - Carr Properties SALE PRICE: $220,000,000 UNITS: 456 ~ PPU: $482,456 SF: 7,500 ~ PPSF: $29,333 NOTE: AIR Communities has acquired The Elm, a 456-unit apartment property in Bethesda, Md., for $220 million, or $482,456 per unit, from Carr Properties.

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Address4710 Elm Street

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