Elme Communities shares rise 8.93% premarket after Cortland Partners agreed to buy part of its portfolio for $1.6 billion.

Elme Communities rose 8.93% in premarket trading, with Cortland Partners announcing its intention to purchase part of Elme Communities' portfolio for $1.6 billion. This acquisition is likely seen as a positive development for Elme Communities, as it indicates strong interest and value in their assets, driving the stock price higher.