Elme Communities published its 2023 ESG Report on November 1, 2024, highlighting the completion of onboarding all community-level operations to Elme management. This initiative aims to streamline processes and enhance operational efficiency across its portfolio. The company also certified its first five communities to the Fitwel Health and Wellness standard, acknowledging the incorporation of evidence-based design and operations strategies.
The report details Elme's commitment to evaluating and managing climate-related physical and transition risks as part of its Enterprise Risk Management program. Climate risk and carbon neutrality have become integral factors in the due diligence process for sourcing acquisition opportunities, supporting the company's growth and efforts to reduce its environmental footprint.
As of December 31, 2023, Elme's portfolio comprised approximately 9,400 residential homes and 300,000 square feet of commercial office space across 29 properties. For the calendar year 2023, the company reported total revenue of $227.9 million and a net loss of $53 million.
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