Item 2. Properties
ITEM 2: PROPERTIES
The schedule on the following pages lists our real estate investment portfolio as of December 31, 2024, which consisted of 28 residential communities, one office building and land held for development. Cost information is included in Schedule III to our financial statements included in this Annual Report on Form 10-K.
Schedule of Properties
Properties Location Year Acquired Year Constructed/Renovated # of Homes Average Occupancy, year ended
December 31, 2024
Ending Occupancy, as of December 31, 2024
Residential Communities
Elme Alexandria Alexandria, VA 2019 1990 532 95.7 % 97.0 %
Cascade at Landmark Alexandria, VA 2019 1988 277 96.4 % 96.4 %
Clayborne Alexandria, VA N/A 2008 74 96.3 % 94.6 %
Riverside Apartments (1)
Alexandria, VA 2016 1971 1,222 96.5 % 96.2 %
Bennett Park Arlington, VA N/A 2007 224 96.1 % 96.9 %
Park Adams Arlington, VA 1969 1959 200 94.9 % 96.5 %
The Maxwell Arlington, VA N/A 2014 163 96.4 % 98.2 %
The Paramount Arlington, VA 2013 1984 135 97.5 % 98.5 %
The Wellington Arlington, VA 2015 1960 710 96.7 % 96.9 %
Trove Arlington, VA N/A 2020 401 96.3 % 96.0 %
Roosevelt Towers Falls Church, VA 1965 1964 191 95.9 % 96.9 %
Elme Dulles Herndon, VA 2019 2000 328 96.8 % 95.4 %
Elme Herndon Herndon, VA 2019 1991 283 96.5 % 97.2 %
Elme Leesburg Leesburg, VA 2019 1986 134 97.1 % 97.8 %
Elme Manassas Manassas, VA 2019 1986 408 96.1 % 96.1 %
The Ashby at McLean McLean, VA 1996 1982 268 96.4 % 98.5 %
3801 Connecticut Avenue Washington, DC 1963 1951 307 95.7 % 95.8 %
Kenmore Apartments Washington, DC 2008 1948 371 94.7 % 94.6 %
Yale West Washington, DC 2014 2011 216 95.2 % 95.8 %
Elme Bethesda Bethesda, MD 1997 1986 193 96.7 % 96.9 %
Elme Watkins Mill Gaithersburg, MD 2019 1975 210 95.5 % 95.2 %
Elme Germantown Germantown, MD 2019 1990 218 95.8 % 96.3 %
Elme Conyers Conyers, GA 2021 1999 240 93.3 % 91.7 %
Elme Eagles Landing Stockbridge, GA 2021 2000 490 87.7 % 90.0 %
Elme Marietta Marietta, GA 2022 1975 420 86.8 % 90.2 %
Elme Sandy Springs Sandy Springs, GA 2022 1972 389 89.5 % 90.7 %
Elme Cumberland Smyrna, GA 2022 1982 270 92.9 % 95.9 %
Elme Druid Hills Atlanta, GA 2023 1987 500 93.4 % 96.0 %
Subtotal Residential Communities 9,374 94.7 % 95.4 %
Property Location Year Acquired Year Constructed/Renovated Net Rentable Square Feet Percent Leased, as of
December 31, 2024 (2)
Ending Occupancy, as of December 31, 2024 (2)
Office Building
Watergate 600 Washington, DC 2017 1972/1997 300,000 84.7 % 84.7 %
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(1) Includes an undeveloped land parcel held for development adjacent to the Riverside Apartments.
(2) Percent leased and ending occupancy calculations are based on square feet and includes temporary lease agreements for Watergate 600. Percent leased is the percentage of net rentable area for which fully executed leases exist and may include signed leases for space not yet occupied by the tenant.
ITEM 3: LEGAL PROCEEDINGS
None.
ITEM 4: MINE SAFETY DISCLOSURES
None.
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PART II