secwatch.observer — SEC 8-K summary
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Issuer:     Elme Communities (ELME)
CIK:        0000104894
Form:       8-K
Filed at:   2021-07-29T23:59:59+00:00
Accession:  0000104894-21-000074
Event type: earnings
Sentiment:  neutral
Materiality: 0.85
Item codes: 2.02, 7.01, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

WashREIT Q2 net loss $7.0M; transforms to multifamily REIT with $766M office sale
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- Q2 net loss $7.0M ($0.08/share); Core FFO $30.1M ($0.35/share); same-store multifamily NOI down 2.0% YoY.
- Completed $766M office portfolio sale; agreed to sell retail assets for $168.3M, expected to close in Q3.
- Plans to redeem $300M notes due 2022, repay $150M term loan, and acquire $450M multifamily in SE markets.
- Dividend cut to $0.17/share from $0.30; Board reset dividend to fund transformation.
- Trove occupancy >76%, stabilization near year-end; full-year same-store NOI guidance $85.5-$86.5M.

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/104894/000010489421000074/0000104894-21-000074-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/104894/000010489421000074/wre-20210729.htm
  HTML page:      https://secwatch.observer/filing/0000104894-21-000074

License: Source filings: public domain (SEC EDGAR). Summaries (headline + bullets): CC-BY-4.0; attribute https://secwatch.observer