The NHP Foundation Acquires 218-Unit Germantown MF Property

The NHP Foundation Acquires 218-Unit Germantown MF Property
News| May 21, 2026| Jasmine Kilman
Washington DC + Apartment Buildings

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% of the area median income for 50% of the units and 80% for the remaining 25% of the units.

The acquisition was financed entirely with tax-exempt 501(c)(3) bonds, with KeyBanc Capital Markets serving as bond underwriter, the Wisconsin Public Finance Authority as issuer, and U.S. Bank as trustee. Urban Atlantic and Rawson Square supported the acquisition and will serve as development consultants, overseeing initial property improvements. Winn Residential will serve as the new property manager.

“Adding this exceptional property to our portfolio marks a meaningful milestone for the foundation— our first acquisition in Montgomery County,” said Joseph Weatherly, Chief Investment Officer.

Other News

Development Site Trades within Atlantic Avenue Mixed-Use Plan

New York & Tri-State + Apartment Buildings

Ariel Property Advisors closed the $21-million sale of a development site at 566 Grand Ave. and 836 Dean St. in Prospect Heights, Brooklyn. The corner development site comprises approximately 86,065 buildable square feet and traded for approximately $244 per buildable square foot. The transaction was arranged by Ariel partner Sean R. Kelly along with associate...

Learn more

Fourth Sale Closes in Anaheim Multifamily Portfolio

California & West + Apartment Buildings

Marcus & Millichap arranged the sale of Knott-Orange Apartments, a 35-unit multifamily property located at 515 S. Knott Ave. in Anaheim. The property sold for $9.65 million, or $275,714 per unit. “This transaction marked the fourth closing from a larger Anaheim-area multifamily portfolio as the seller continues to reposition its holdings through a 1031 exchange...

Learn more

JLL Arranges $135M Financing for Luxury Multifamily in Yonkers

New York & Tri-State + Apartment Buildings

JLL Capital Markets arranged $135 million in construction financing and joint venture equity for the development of The Ibex at Ridge Hill, a 282-unit luxury multifamily community at the Ridge Hill mixed-use lifestyle center in Yonkers. Senior managing directors Evan Pariser and Aaron Niedermayer and director John Lowe arranged the senior construction loan with Bank...

Learn more
New call-to-action

Brokers

View All

Lenders

View All

Management

View All
Login
or
Sign up