Elme Separates from CIO Amid Downsizing and Announces Sale of 19 Properties to Cortland Partners

Elme Communities has separated from its Chief Information Officer, Susan Gerock, as part of a broader restructuring. The REIT also announced the sale of 19 properties to Cortland Partners for $1.6 billion in cash. As a result, Elme will downsize its workforce, retaining only essential personnel to operate its remaining assets and complete the wind-down activities. The company aims to sell all assets by June 2026 and return proceeds to shareholders.