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About Elme Communities
From its filings with the US Securities and Exchange Commission
Elme Communities is based in Bethesda, Maryland and is incorporated in Maryland. Its shares trade on OTC under the ticker ELME. The SEC classifies its business as real estate investment trusts. In the fiscal year to 31 December 2024, it reported revenue of $241.9m and a net loss of $13.1m. At that date it held shareholders' equity of $1.08bn.
Elme Communities, a Maryland real estate investment trust, formerly known as Washington Real Estate Investment Trust (“Elme” or the “Company”), is a self-administered equity real estate investment trust (“REIT”) within the meaning of Sections 856-860 of the Internal Revenue Code of 1986, as amended (the “Code”) and successor to a trust organized in 1960. Our business primarily consists of the ownership of apartment communities in the greater Washington, DC metro and Sunbelt regions. As of December 31, 2025, we owned nine apartment communities and one office property.
On February 13, 2025, the Company announced that its Board of Trustees (the “Board”) had initiated a formal review to evaluate strategic alternatives. On August 4, 2025, the Company announced that its Board had completed its review, that Elme had entered into a Purchase and Sale Agreement, dated as of August 1, 2025, for the sale of 19 multifamily properties from Elme for approximately $1.6 billion in cash, subject to certain adjustments and prorations (the “Portfolio Sale Transaction”), and that the Board had also approved a plan of sale and liquidation (the “Plan of Sale and Liquidation”), which contemplates the sale or disposition of all the Company’s assets, the wind-down of the Company’s business and affairs and the termination of the Company’s existence by voluntary dissolution. The Plan of Sale and Liquidation includes a plan of liquidation that provides for the Company’s complete liquidation and dissolution in accordance with Section 331, Section 336 and Section 346(a) of the Code.
Quoted from its 10-K, filed 27 Feb 2026. Read the filing on SEC.gov ↗
Company facts
- Sector
- Real Estate
- Industry
- Equity Real Estate Investment Trusts (REITs)
- Listed since
- 17 Mar 1980
- Employees
- 91
- Website
- writ.com ↗
- Head office
- 7550 WISCONSIN AVENUE, BETHESDA, MD, 20814
- Incorporated in
- MD
- Classification
- Real Estate Investment Trusts
- Filer status
- Large accelerated filer
Leadership
Pay as last reported
- Mr. Paul McDermottChairman of the Board of Trustee, President, Chief Executive Officer, since 2013$4.0m
- Mr. Steven FreishtatChief Financial Officer, Executive Vice President$1.1m
- Ms. Tiffany ButcherChief Operating Officer, Executive Vice President$1.7m
- Mr. W. Drew HammondSenior Vice President, Chief Administrative Officer, Treasurer$881,748
- Ms. Jennifer BannerIndependent Trustee$172,474
- Mr. Benjamin ButcherIndependent Trustee$222,474
- Ms. Susan CarrasIndependent Trustee$169,974
- Ms. Ellen GoitiaIndependent Trustee$182,474
- Mr. Thomas NolanIndependent Trustee$179,974
- Mr. Ron SturzeneggerIndependent Trustee
- Vice Adm. (Retd.) Anthony WinnsIndependent Trustee$176,474
- Ms. Amy HopkinsVice President - Investor Relations, since 2019
Environmental, social and governance
Scores out of 100, from our data supplier
- Overall
- 82
- Environment
- 99
- Social
- 68
- Governance
- 80
- Direct emissions (scope 1)
- 1,875 t
- Energy emissions (scope 2)
- 5,129 t
- Women in the workforce
- 37.14286%
- Carbon reduction policy
- Yes
- Human rights policy
- Yes
SWOT analysis
AI-generated by our data supplier. Not written or checked by our editors.
Strengths
- Well-established reputation in the real estate investment industry, providing a solid foundation for growth and credibility.
- Diverse portfolio of high-quality properties, including residential, commercial, and retail real estate, maximizing income potential.
- Strong financial position with stable cash flow and healthy balance sheet, enabling flexibility for expansion and acquisitions.
Weaknesses
- Vulnerability to market fluctuations and economic downturns, affecting property valuations and rental demand.
- Limited geographical presence concentrated in the Washington DC metropolitan area, potentially limiting growth opportunities in other regions.
- Dependence on external financing for capital-intensive projects, exposing the company to interest rate risks and borrowing constraints.
Opportunities
- Favorable market conditions in the Washington DC area with steady population growth and increased demand for both residential and commercial properties.
- Potential for expansion into adjacent regions or diversification into other property types to expand the market footprint and reduce reliance on a single market.
- Growing interest in sustainable and environmentally friendly properties, allowing the company to capitalize on green real estate trends.
Threats
- Intense competition from other real estate investment trusts (REITs) and property developers, leading to potential price wars and reduced profitability.
- Regulatory changes and government policies impacting the real estate market, such as zoning restrictions or changes in tax regulations, affecting property values and investment returns.
- Volatile interest rates and inflationary pressures, influencing borrowing costs and potentially lowering investor demand for real estate assets.
Sources and methodology
- Data on this tab
- Our data supplier
- Chart on the Overview
- TradingView
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