Elme Communities enters $500M revolver, replacing $700M facility and repaid term loan

Elme Communities

New $500M unsecured revolver matures July 10, 2028; initial rate SOFR + 0.85% plus 0.10% adjustment, facility fee 0.20%.
$167M drawn at closing; prior $700M revolver and $250M term loan (fully repaid) replaced.
Option to increase commitments up to $1.0B with lender consent; two six-month extension options available.
Amendment to existing term loan with Truist Bank aligns covenants; no change to maturity or pricing.
No subsidiary guarantees required now; potential future guarantees if subsidiary guarantees >$200M other debt or incurs recourse debt.

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