GlobeNewswire·Jul 24, 2026, 4:15 PM ET

Elme Communities Provides Update On Liquidation Activities

Elme Communities sold six properties in 2026 for approximately $294 million in gross proceeds.
Four remaining properties are under contract, including a new agreement for Riverside Apartments at $250 million.
The company targets completion of all remaining sales during the third & fourth quarters of 2026.
NYSE delisting & company dissolution are targeted for the fourth quarter of 2026.
Total estimated liquidating distributions are updated to $16.41–$16.61 per share, including the $14.67 initial distribution paid in January 2026.
The updated distribution range reflects a lower contract price for Riverside Apartments & increased liquidation expenses.
The Elme Bethesda sale is expected to close no later than August 11, 2026, following receipt of compliance certificates.
Sales of The Kenmore & 3801 Connecticut Avenue depend on the completion of the Tenant Opportunity to Purchase Act process by year-end 2026.
The remaining $251 million Term Loan balance will be repaid using net proceeds from the sale of remaining properties.
Additional liquidating distributions will be made at the Board's discretion prior to delisting.
Following dissolution, remaining assets & liabilities will transfer to a liquidating trust for pro rata distribution to shareholders.