Elme Communities reported a net loss per diluted share of $(0.04) and Core FFO per diluted share of $0.24 for Q2 2025. The company announced a strategic review update, including a purchase agreement for the sale of 19 multifamily communities for approximately $1.6 billion and a voluntary plan of sale and liquidation for its remaining assets. Operational highlights included increases in same-store multifamily NOI and average effective monthly rent per home, along with stable retention.
Net loss per diluted share remained at $(0.04) for Q2 2025, consistent with the prior year quarter.
Core FFO per diluted share increased to $0.24 in Q2 2025 from $0.23 in Q2 2024.
Same-store multifamily NOI increased by 4.5% compared to the prior year quarter, driven by higher rental revenue and fee and ancillary income.
The company announced a significant strategic shift, entering into an agreement to sell 19 multifamily communities for approximately $1.6 billion and approving a plan for the sale and liquidation of all remaining assets.
Elme Communities has withdrawn its prior 2025 guidance and assumptions due to the announced portfolio sale transaction and adoption of the Plan of Sale and Liquidation. The company does not expect to issue new guidance for 2025 or 2026.
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