Terry Considine's AIR Communities Acquires The Elm In Bethesda For $220M

AIR Communities, represented by Terry Considine, has acquired The Elm in Bethesda, MD. The property consists of two high-rise apartment buildings with a total of 456 units. The sale price for this multi-family asset was $220,000,000, resulting in a per unit price of $482,456.

Summary of transaction details:

• Property Type: MultiFamily
• Transaction Amount: $220,000,000
• Units: 456
• Price per Unit: $482,456
• Address: 7272 Wisconsin Ave, Bethesda, MD
• Market: Bethesda, MD

Oliver Carr, representing Carr Properties, served as the seller of The Elm. The buyer's representative in the deal was Terry Considine from AIR Communities. The transaction was facilitated by the brokers Bill Gribbin, Brian Crivella, and Walter Coker, all from Berkadia. The lender involved in the transaction was Walker & Dunlop.