Elme Communities agrees to sell 193-unit Bethesda property for $59.0M

Elme Communities

Purchase and sale agreement with CAPREIT Acquisition Corporation for Elme Bethesda, a 193-unit community in Bethesda, MD.
Contract price $59.0M; aggregate earnest money deposit of $1M, with $500K due at signing and $500K after inspection.
Inspection period expires June 3, 2026; closing no later than July 9, 2026 or 10 business days after Montgomery County certificate.
Sale is part of ongoing Plan of Sale and Liquidation; subject to customary closing conditions and inspection completion.

Key facts

Extracted from this filing and checked against the source text.

Material Agreements SEC 8-K Item 1.01/1.02 confidence 0.9

Elme Communities entered into Bethesda Agreement with CAPREIT Acquisition Corporation valued at $59.0 million (effective 2026-05-27).

Action: entry
Agreement: asset purchase
Counterparty: CAPREIT Acquisition Corporation
Value: $59.0 million
Effective: 2026-05-27

Exact text from the filing

On May 27, 2026, Elme Bethesda Owner LLC (the “Bethesda Seller”), a wholly-owned subsidiary of Elme Communities (the “Company”), entered into a purchase and sale agreement (the “Bethesda Agreement”) with CAPREIT Acquisition Corporation (the “Buyer”) for the sale of Elme Bethesda, a 193-unit community located in Bethesda, Maryland, for a contract sale price of $59.0 million, subject to customary prorations and adjustments (the “Bethesda Sale”).

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Source: SEC EDGAR

accession 0000104894-26-000082

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