Elme Communities Announces New $500 Million Credit Facility
Elme Communities (ELME)
Company Research
Source: GlobeNewswire
BETHESDA, Md., July 11, 2024 (GLOBE NEWSWIRE) -- Elme Communities (NYSE: ELME), a multifamily owner and operator, announced today that it has entered into a new $500 million credit facility to replace the prior revolving credit facility which had been due to mature in August 2025. The new credit facility has a four-year term ending on July 10, 2028, and includes two 6-month maturity extension options and an accordion feature which provides an additional $500 million of capacity on the facility. The initial interest rate is based on adjusted daily SOFR plus a margin of 85 basis points (which is subject to change based on Elme’s credit ratings). “We are pleased with the successful completion of our credit facility recast which extends our strong liquidity position and optimizes cost,” said Steven Freishtat, Executive Vice President and Chief Financial Officer of Elme Communities. “We thank our team of lenders for their support and confidence in the growth and success of our company
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ELME
News
- Elme Communities (NYSE: ELME) had its price target raised by analysts at JPMorgan Chase & Co. from $17.00 to $19.00. They now have an "overweight" rating on the stock.MarketBeat
- Elme Communities (NYSE: ELME) had its price target raised by analysts at Wells Fargo & Company from $14.00 to $17.00. They now have an "equal weight" rating on the stock.MarketBeat
- Elme Communities Announces Second Quarter 2024 ResultsGlobeNewswire
ELME
Earnings
- 8/1/24 - In-Line
ELME
Sec Filings
- 8/2/24 - Form 10-Q
- 8/1/24 - Form 8-K
- 7/11/24 - Form 4
- ELME's page on the SEC website