Elme Communities To Sell 19 Properties to Cortland

Elme Communities (NYSE: ELME), a value-oriented multifamily owner and operator, today announced that its Board of Trustees has completed its previously announced formal evaluation of strategic alternatives to maximize shareholder value. After an extensive evaluation of strategic alternatives available, the Company has entered into a Purchase and Sale Agreement with an affiliate of Cortland Partners, LLC, a vertically integrated, multifamily real estate investment, development, and management company, under which Cortland will acquire a 19-asset portfolio from Elme for $1.6 billion in cash, subject to certain adjustments. The transaction is expected to close in the fourth quarter of 2025, subject to customary…