SaleMay 28, 2026, 04:14 PM
Elme Communities Sells Elme Bethesda Property for $59.0M
AI Summary
Elme Communities, through its wholly-owned subsidiary Elme Bethesda Owner LLC, has entered into a purchase and sale agreement with CAPREIT Acquisition Corporation for the sale of Elme Bethesda. The 193-unit community in Bethesda, Maryland, is being sold for a contract price of $59.0 million. The agreement includes a $1 million earnest money deposit, with closing anticipated by July 9, 2026, subject to customary conditions and the successful completion of an inspection period.
Key Highlights
- Elme Communities' subsidiary, Elme Bethesda Owner LLC, entered an agreement to sell Elme Bethesda.
- The 193-unit community in Bethesda, Maryland, will be sold for $59.0 million.
- CAPREIT Acquisition Corporation is the buyer of the property.
- An aggregate earnest money deposit of $1 million is required, with $500,000 funded initially.
- The inspection period expires on June 3, 2026, after which the deposit becomes nonrefundable.
- Closing is expected no later than July 9, 2026, or 10 business days after a certificate of compliance is obtained.
Price Impact
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