Elme Communities (ELME) 2016年年度报告「NYSE」.pdf

1、CREATING VALUEIN A VIBRANT MARKETANNUAL REPORT2016Army Navy Building,Washington,DCRiverside Apartments,Alexandria,VAA PORTFOLIO OF OPPORTUNITIESTrove,Arlington,VA (RENDERING)Spring Valley Village,Washington,DC (RENDERING OF ADDITION)Washington REIT has multiple growth projects currently underway or

2、in planning including the redevelopment of a historic office building in the District,a ground-up multifamily development,a multifamily unit-renovation program and a ground-up retail development.We made significant progress on three key strategic goals in 2016.First,we improved the overall compositi

3、on of the portfolio by increasing our allocation to value-add multifamily assets,which are projected to generate a higher rate of net operating income(NOI)growth and more stable cash flows than the commodity suburban office assets we sold,while also carrying lower risk.Second,we improved the growth

4、profile of our office portfolio by selling capital-inten-sive suburban legacy assets that lacked walkable amenities and were located in Maryland submarkets with high levels of of-fice vacancy.Office leasing in the Washington Metro region continues to be dominated by Metro-centric,amenity-rich,live-w

5、ork-play environments.Following the sale of the suburban Maryland office portfolio,all our office assets,with the exception of one,are located in urban-infill,Metro-centric loca-tions with walkable amenities.The current outlook for employment growth in the Washington Metro region is the brightest fo

6、r submarkets within Northern Virginia and the District.At year-end 2016,Washington REITs office portfolio generated approxi-mately half of its NOI from assets located in Virginia and the other half from The District,making it well-positioned to capitalize on the anticipated leasing growth in our reg