Elme Communities

Elme Communities is a Maryland real estate investment trust (REIT) that primarily owns apartment communities. The company, formerly known as Washington Real Estate Investment Trust, was organized in 1960. As of December 31, 2025, Elme Communities owned nine apartment communities and one office property. These properties are located in the greater Washington, DC metro and Sunbelt regions. On February 13, 2025, the company's Board of Trustees began evaluating strategic alternatives. On August 4, 2025, the Board announced it had completed its review and that Elme had entered into a Purchase and Sale Agreement, dated August 1, 2025, for the sale of 19 multifamily properties for approximately $1.6 billion in cash, subject to adjustments and prorations. This transaction is referred to as the "Portfolio Sale Transaction." The Board also approved a plan of sale and liquidation, which involves selling or disposing of all company assets, winding down its business, and terminating its existence through voluntary dissolution. This plan includes a complete liquidation and dissolution in accordance with specific sections of the Internal Revenue Code. On October 30, 2025, shareholders approved both the Portfolio Sale Transaction and the Plan of Sale and Liquidation. Elme completed the Portfolio Sale Transaction on November 12, 2025. Also on November 12, 2025, certain indirect subsidiaries of the company, as borrowers, and Goldman Sachs Bank USA, as lender, entered into a Loan Agreement for a senior secured term loan of $520.0 million.