August 4, 2025
On August 4, Elme Communities (NYSE: ELME) announced that it had entered into an agreement to sell a portfolio of 19 multifamily properties to an affiliate of Cortland Partners LLC, a real estate investment, development, and management company, for $1.6 billion in cash, subject to certain adjustments.
Willkie represented Goldman Sachs & Co. LLC, who served as financial advisor to the transaction committee of Elme Communities in connection with the proposed transaction.
The transaction with Cortland is expected to close in the fourth quarter of 2025, subject to shareholder approval and satisfaction of other closing conditions.
Elme also announced a proposed plan of sale and liquidation, pursuant to which Elme intends to sell all of its remaining assets following the closing of the transaction with Cortland. Elme intends to commence the marketing and sale of its remaining assets as part of the proposed voluntary liquidation plan, which is also subject to shareholder approval.
The Willkie team was led by partners Steven Seidman and Laura Delanoy and associate Ian Morganelli, and included associate Andrew Lefkowitz.
Willkie represented Goldman Sachs & Co. LLC, who served as financial advisor to the transaction committee of Elme Communities in connection with the proposed transaction.
The transaction with Cortland is expected to close in the fourth quarter of 2025, subject to shareholder approval and satisfaction of other closing conditions.
Elme also announced a proposed plan of sale and liquidation, pursuant to which Elme intends to sell all of its remaining assets following the closing of the transaction with Cortland. Elme intends to commence the marketing and sale of its remaining assets as part of the proposed voluntary liquidation plan, which is also subject to shareholder approval.
The Willkie team was led by partners Steven Seidman and Laura Delanoy and associate Ian Morganelli, and included associate Andrew Lefkowitz.
