Brief: Elme Communities To Sell 19 Properties To Cortland For $1.6 Billion

Elme Communities

04/08/2025 13:29

Aug 4 (Reuters) - Elme Communities ELME.N:

ELME COMMUNITIES CONCLUDES STRATEGIC ALTERNATIVES REVIEW PROCESS; EXECUTES AGREEMENT TO SELL 19 PROPERTIES TO CORTLAND, REMAINING ASSETS TO BE MARKETED FOR SALE

ELME COMMUNITIES - TO SELL 19 PROPERTIES TO CORTLAND FOR $1.6 BILLION

ELME COMMUNITIES - PLANS DISTRIBUTIONS OF $14.68-$15.00 PER SHARE

ELME COMMUNITIES - ESTIMATES ADDITIONAL DISTRIBUTIONS OF $2.90-$3.50 PER SHARE

ELME COMMUNITIES: INTENDS TO COMMENCE SALE OF ITS REMAINING ASSETS IN NEAR FUTURE WITH VIEW TOWARD COMPLETING ASSET SALES IN NEXT 12 MONTH

ELME COMMUNITIES: WITHDRAWING ITS PRIOR 2025 GUIDANCE AND ASSUMPTIONS

Source text: ID:nGNX2rjjsQ

Further company coverage: ELME.N

 ((Reuters.Briefs@thomsonreuters.com;))