GlobeNewswire·May 11, 2026, 6:30 AM ET

Elme Communities Provides Update On Liquidation Activities

ELME

Elme Communities has sold five properties in 2026 for approximately $252.7 million, including four multifamily assets and the Watergate 600 office property.
The Company has entered into purchase and sale agreements for four additional properties expected to generate roughly $431.3 million, with closings targeted for mid-year 2026.
Negotiations are ongoing for the final remaining property, Elme Bethesda, with a goal to sign a purchase agreement within the next several weeks.
Total estimated liquidating distributions have been updated to a range of $16.74 to $17.02 per share, inclusive of the $14.67 per share initial distribution paid in January 2026.
The revised distribution estimate reflects reduced gross proceeds for Riverside Apartments and two D.C. properties due to market softening, alongside adjustments for debt service, capital expenditures, and operating costs.
The remaining $288.5 million balance of the Goldman Sachs term loan is scheduled to be repaid using net proceeds from the sales of remaining properties securing the loan.
Elme targets completing all property sales by mid-year 2026, with NYSE delisting and company dissolution expected to occur in the third quarter of 2026.
Prior to delisting, the Board may declare an additional liquidating distribution, though the amount and timing remain subject to Board discretion.
Following dissolution, remaining assets and liabilities will transfer to a liquidating trust, with shareholder interests deemed pro rata and generally non-transferable.