The NHP Foundation Acquires 218-Unit Germantown MF Property

The NHP Foundation Completes Acquisition of 218-Unit Affordable Housing Community Hadley Germantown

The NHP Foundation has closed on the acquisition of Hadley Germantown, a 218-unit affordable housing community in Germantown, Md., a far suburb of Washington, D.C. The asset traded for about $53.7 million, according to SEC filings by seller Elme Communities. The buyer financed the acquisition with tax-exempt 501(c)(3) bonds. KeyBanc Capital Markets served as bond […] The post The NHP Foundation Completes Acquisition of 218-Unit Affordable Housin…

The NHP Foundation Acquires 218-Unit Germantown MF Property

Affordable housing developer NHP Foundation (NHPF), a national nonprofit dedicated to creating and preserving affordable housing, announced the closing of its acquisition of Hadley Germantown, a 218-unit apartment community in Germantown, Maryland. Originally built in 1990 and last renovated in 2011, Hadley Germantown provides naturally occurring affordable housing. NHPF is imposing covenants on the property that will restrict future rents to 60…