Elme Communities Concludes Strategic Alternatives Review Process; Executes Agreement to Sell 19 Properties to Cortland, Remaining Assets to be Marketed for Sale

Elme to Seek Shareholder Approval for Cortland Portfolio Transaction and Plan of Sale and Liquidation

Intends to Make Total Upfront Distributions to Shareholders of Approximately $14.68 to $15.00 per Share assuming the Consummation of the Cortland Portfolio Transaction

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