Mergers & Acquisitions ·
Elme Communities reports that the inspection period for the sale of Riverside Apartments, a 1,222-unit community in…
ELMEElme Communities
Elme Communities reports that the inspection period for the sale of Riverside Apartments, a 1,222-unit community in Alexandria, Virginia, expired on August 20, 2026. The remaining $2.0 million installment of the earnest money deposit has been deposited with the escrow agent, bringing the aggregate nonrefundable deposit to $4.0 million. The contract sale price is $250.0 million, subject to customary prorations and adjustments. Closing is expected no later than September 14, 2026, contingent on satisfying conditions precedent. This transaction is part of Elme's ongoing Plan of Sale and Liquidation, which involves selling remaining multifamily assets to repay its $520.0 million senior secured term loan. The company operates in the real estate investment trust (REIT) industry, specifically owning and managing multifamily residential properties.