Elme Communities Issues 2022 ESG Report

WASHINGTON, Oct. 25, 2022 (GLOBE NEWSWIRE) — Elme Communities (“Elme” or the “Company”) (NYSE: ELME), a value-driven multifamily proprietor and operator, introduced the publication of its 2022 ESG Report. The report, which summarizes the Company’s ESG initiatives, packages, and achievements in 2021 and into 2022, might be discovered on the ESG web page of the Company’s newly launched web site at www.elmecommunities.com.

Within this report, Elme Communities introduced that it has achieved a 2022 Global Real Estate Sustainability Benchmark (GRESB) Real Estate Assessment rating of 77, the Company’s highest score up to now. This is the ninth and closing yr for the corporate to submit beneath GRESB as a diversified portfolio. Over the previous 9 years, the Company noticed a rise in its GRESB rating of over 30 factors, from 45 in 2014 to 77 in 2022, due to the efforts and concentrate on ESG throughout all departments. Furthermore, the Company achieved a 2022 GRESB Public Disclosure score of “A” for a 3rd consecutive yr.

Following the corporate’s transformation right into a multifamily firm, the Company expects to undergo GRESB as a multifamily portfolio for the primary time in 2023, benchmarking to a brand new peer set.

“We’re proud of the growth and success of our ESG program throughout our history,” says Eric Tilden, Senior Director of ESG. “As a multifamily company focused on value living, we have the opportunity to have an even greater environmental and social impact. From emissions reduction strategies to resident experience and wellbeing, we’re taking the best practices and lessons learned from our former portfolio to build new programs and initiatives that will improve our communities.”

Highlights on this yr’s report:

• 74% of our multifamily properties presently maintain a number of energetic sustainability certification 
• 26% of electrical energy bought was renewable from native and regional sources 
• Launched partnership with Esusu to report on-time lease funds to all three credit score bureaus to enhance resident credit score historical past and help monetary inclusion  
• Increased proportion of communities geared up with EV charging stations from 5% to 42% in 2022
• Increased feminine illustration on our Board to 25% 
• For the primary time, our ESG report included an index aligned with the Global Reporting Initiative (GRI) to raised talk ESG impacts and simplify the discovering of knowledge associated to key points 

About Elme Communities

Elme Communities (previously referred to as Washington Real Estate Investment Trust or WashREIT) is dedicated to elevating what house might be for middle-income renters by offering the next stage of high quality, service, and expertise. The firm is a multifamily actual property funding belief that owns and operates roughly 8,900 house properties within the Washington, DC metro and the Sunbelt, and roughly 300,000 sq. ft of economic area. Focused on offering high quality, reasonably priced properties to a deep, strong, and underserved base of mid-market demand, Elme Communities is constructing long-term worth for shareholders.

Forward Looking Statements

Certain statements on this launch are “forward-looking statements” throughout the which means of the Private Securities Litigation Reform Act of 1995 and contain dangers and uncertainties. Forward-looking statements relate to expectations, beliefs, projections, future plans and methods, anticipated occasions or developments and comparable expressions regarding issues that aren’t historic information. In some instances, you may establish ahead wanting statements by way of forward-looking terminology resembling “may,” “will,” “should,” “expects,” “intends,” “plans,” “anticipates,” “believes,” “estimates,” “predicts,” or “potential” or the unfavorable of those phrases and phrases or comparable phrases or phrases that are predictions of or point out future occasions or developments and which don’t relate solely to historic issues. Such statements contain recognized and unknown dangers, uncertainties, and different elements which can trigger the precise outcomes, efficiency, or achievements of Elme Communities to be materially completely different from future outcomes, efficiency or achievements expressed or implied by such forward-looking statements. Such dangers and uncertainties embody, however should not restricted to: dangers related to our capacity to execute on our methods, together with new methods with respect to our operations, our portfolio and our rebranding, together with the acquisition of house properties within the Southeastern markets, on the phrases anticipated, or in any respect, the operational advantages from our working mannequin redesign on the timing contemplated or in any respect, and to understand any anticipated returns and advantages, together with the efficiency of any acquired residential properties on the ranges anticipated; whether or not we will prioritize ESG packages and initiatives and their impact on our communities; and different dangers and uncertainties detailed on occasion in our filings with the SEC, together with our 2021 Form 10-Ok filed on February 18, 2022. While forward-looking statements mirror our good religion beliefs, they aren’t ensures of future efficiency. We undertake no obligation to replace our forward-looking statements or threat elements to mirror new data, future occasions, or in any other case.

This launch additionally contains sure forward-looking non-GAAP data. Due to the excessive variability and problem in making correct forecasts and projections of among the data excluded from these estimates, along with among the excluded data not being ascertainable or accessible, the Company is unable to quantify sure quantities that will be required to be included in essentially the most immediately comparable GAAP monetary measures with out unreasonable efforts.

Contact:
Investor Relations
Amy Hopkins
202-774-3253
[email protected]

Media Relations
Deanna Schmidt
202-774-3131
[email protected]