Hogan Lovells advises Elme Communities on US$1.6 billion portfolio sale transaction and plan of sale liquidation
Washington, D.C., 7 August 2025 – Global law firm Hogan Lovells represented Elme Communities (NYSE: ELME), a value-oriented multifamily REIT, in connection with its US$1.6 billion sale of a 19-property portfolio to an affiliate of Cortland Partners and approval of a plan of sale and liquidation.
As announced on 4 August, 2025, Elme’s Board of Trustees unanimously approved the sale of a 19-property portfolio and a plan of sale and liquidation following completion of a formal evaluation of strategic alternatives that was publicly announced in February 2025. The transactions are subject to shareholder approval.
As noted in its announcement, the Cortland sale would be the first step in Elme’s plan of liquidation, with Elme’s remaining nine multifamily properties and the Watergate 600 office building to be marketed for sale in the near future.
The Hogan Lovells team, which has served as corporate, securities and tax counsel to Elme for over 10 years, was led by corporate partners Paul Manca and Liz Banks, tax partners Cristina Arumi and Lauren Clarke, real estate partners Lee Berner and Jeff Keitelman and finance partner Nathan Cooper, with support from partners Carin Carithers, Mike DeLarco, Henry Kahn and Scott Reisch, counsel Joseph Miller, senior associate Ariel Anderson, and associates Erin Clancy, Maral Clay, Antione Hudson, Kaitlyn Hittleman, Peter Lattanzio, Austin McCleery, Nic Runnels and Saydee Schnider.
More information on this transaction can be found here.
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