Elme Communities announced that it has entered into a new $500 million credit facility to replace the prior revolving credit facility which had been due to mature in August 2025. The new credit facility has a four-year term ending on July 10, 2028, and includes two 6-month maturity extension options and an accordion feature which provides an additional $500 million of capacity on the facility. The initial interest rate is based on adjusted daily SOFR plus a margin of 85 basis points (which is subject to change based on Elme?s credit ratings).