Nation’s First REIT Reveals Succession Plan, Unveils New Company Name

Washington, DC-based Elme Communities (formerly Washington Real Estate Investment Trust or WashREIT) has announced the planned retirement of Stephen Riffee, EVP and CFO, at the end of February 2023.

Steven Freishtat, currently VP, finance, is expected to succeed Riffee as CFO. Drew Hammond, currently VP, chief accounting officer and treasurer, is expected to be promoted to SVP, chief accounting officer. Kelly O’Shields, currently director, real estate accounting is expected to be promoted to VP, finance.

Freishtat has been with Elme Communities since 2015 and brings extensive knowledge of capital markets, strategic transactions, capital allocation, public company operations and financial planning. His experience includes financial planning and analysis for Marriott and as a banker with CapitalSource.