Elme Communities (ELME) 2017年年度报告「NYSE」.pdf

1、TURNING INSIGHTS INTO VALUE2017 ANNUAL REPORTLocated in the heart of the Central Business District in DC,the Army Navy Building presented Washington REIT with a unique opportunity to upgrade a historic boutique property to compete as a trophy asset.The asset overlooks the park at Farragut Square and

2、 is adjacent to two major Metro stops.Redevelopment plans included upgrading the lobby,modernizing the systems and creating a new VIP amenity center with a conference facility and media lounge that connects to a penthouse bar,which opens to outdoor terrace seating.These are valuable amenities that t

3、enants can use to meet,collaborate and entertain.The asset was 91%leased at year end with rents that have exceeded our under-writing expectations.Army Navy BuildingNW,Washington,DCCOVER:Arlington Tower,Arlington VAIn 2017,Washington REIT delivered its strongest internal growth in over a decade.We gr

4、ew our same-store portfolios Net Operating Income(NOI)by 6%,driven by approximately 9%office,3.6%multifamily and 3.3%retail year-over-year growth.As a result,we were able to raise our guidance estimates twice during the year and surpass Wall Streets initial expectations.Our internal growth in 2017 i

5、s the result of four years of strategic capital allocation.Since 2013,Washington REIT has recycled almost a billion dollars of assets.The majority of our capital allocation has focused on selling suburban office assets and investing in value-add multifamily assets as well as repaying debt.Consequent

6、ly,we have improved our portfolios overall occupancy and rental growth while de-leveraging and unencumbering our balance sheet.The proprietary research underlying our strategic capital allocation indicates that value-oriented multifamily product in our region has the potential to drive strong,risk-a