2025

Elme Communities Announces Fourth Quarter and Full Year 2024 Results

Board of Trustees Initiates Review of Strategic Alternatives to Maximize Shareholder Value

BETHESDA, Md., Feb. 13, 2025 (GLOBE NEWSWIRE) -- Elme Communities (the “Company” or “Elme”) (NYSE: ELME), a multifamily REIT with communities in the Washington, DC metro area and the Atlanta metro area, reported financial and operating results today for the quarter and year ended December 31, 2024:

Fourth Quarter Financial and Operational Highlights

Net loss was $3.0 million, or $0.03 per diluted shareCore FFO was $20.7 million, or $0.24 per diluted shareSame-store multifamily NOI increased by 1.7% compared to the prior year quarterAverage Effective Monthly Rent Per Home increased 1.9% compared to the prior year quarter for our Same-Store PortfolioEffective blended Lease Rate Growth was 1.3% for our Same-Store Portfolio during the quarter, comprised of effective new Lease Rate Growth of (3.6)% and effective renewal Lease Rate Growth of 5.1%Same-store Retention was 68%, up 3% compared to the prior year quarterSame-store multifamily Average Occupancy was 95.0% during the quarter, up 0.1% compared to the prior year quarterSame-store multifamily Ending Occupancy was 95.4%, up 0.1% compared to the prior year quarter and up 0.6% compared to the prior quarter.

Howard Hughes Announces the Opening of Victoria Ward Park Makai and Updated Land Use and Density Guidelines in Ward Village®

New Guidelines to Bolster Community Growth and Guide Future Redevelopment

03 Victoria Ward Park Makai, courtesy of Ward Village

HONOLULU, Hawaii, Feb. 14, 2025 (GLOBE NEWSWIRE) -- Ward Village®, an award-winning 60-acre master planned community in the heart of Honolulu, has opened the makai phase of Victoria Ward Park, the community’s first SITES-certified park and the initial phase of a two-part development plan for enhanced public green space.

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