Elme Communities Sells Bethesda Property for $58M

What Happened
Elme Communities announced it completed the sale of Elme Bethesda, a 193‑unit apartment community in Bethesda, Maryland. The sale closed on August 11, 2026, when Elme Bethesda Owner LLC (a wholly owned subsidiary) sold the property to Tilden Bethesda Hill Apartments, LLC for a purchase price of $58.0 million, subject to customary prorations and adjustments. The sale followed a Purchase and Sale Agreement dated May 27, 2026 and a July 23, 2026 amendment that provided for closing on or before August 11, 2026.

Key Details

• Property: Elme Bethesda, 193 units, Bethesda, MD.
• Seller: Elme Bethesda Owner LLC (wholly owned subsidiary of Elme Communities).
• Buyer: Tilden Bethesda Hill Apartments, LLC (assignee of CAPREIT Acquisition Corporation).
• Purchase price: $58.0 million; closed on August 11, 2026; subject to customary prorations/adjustments.
• The 8‑K also includes unaudited pro forma financial statements reflecting the disposition.

Why It Matters
This is a material asset disposition for Elme Communities — the sale converts a large, single property into cash proceeds and will affect the company's portfolio, balance sheet and reported results. The filed pro forma financials show how the company’s net assets and results would look after the disposition, giving investors a clearer view of Elme’s post‑sale financial position.