Recent Updates — ELME
The New York Exchange notified Elme Communities on October 23, 2026, that it has commenced proceedings to delist the company's common shares from the NYSE and immediately suspended trading. The action was taken under Section 802.01D of the NYSE Listed Company Manual due to abnormally low selling price levels. Elme does not intend to appeal the determination, so the shares are expected to be delisted. Trading is anticipated to resume over-the-counter on October 26, 2026, under the symbol ELMES. This follows the company's previously approved Plan of Sale and Liquidation, which targets voluntary dissolution effective November 6, 2026, involving the transfer of remaining assets to a liquidating trust for distribution to shareholders. Elme Communities is a Maryland real estate investment trust specializing in multifamily properties.
Elme Communities completed the sale of its final two multifamily properties, 3801 Connecticut Avenue and The Kenmore in Washington, DC, for $55.0 million each on September 28, 2026. Following these dispositions, the company has sold all remaining assets under its approved Plan of Sale and Liquidation. The Board declared an additional special liquidating distribution of $1.74 per share, payable October 22, 2026 to shareholders of record on October 9, 2026. This brings total cash distributions to $16.41 per share. Elme intends to voluntarily delist from the NYSE with trading expected to cease on November 5, 2026, followed by voluntary dissolution and transfer of remaining assets to a liquidating trust effective November 6, 2026. Elme Communities is a Maryland real estate investment trust specializing in multifamily residential properties.
On September 14, 2026, Elme Communities completed the sale of Riverside Apartments, a 1,222-unit multifamily community in Alexandria, Virginia, for $250.0 million. The company used proceeds from this transaction to repay in full the remaining approximately $198.6 million balance of its senior secured term loan with Goldman Sachs Bank USA and terminated the Loan Agreement. This repayment released all mortgages and liens on the properties that had previously secured the debt. Elme is currently executing a shareholder-approved Plan of Sale and Liquidation, having already sold 25 assets since November 2025. The company anticipates closing sales of its two remaining properties, 3801 Connecticut Avenue and The Kenmore, in late September or early October 2026. Elme Communities operates as a real estate investment trust focused on multifamily residential properties.
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.
Elme Communities entered into a purchase and sale agreement on July 23, 2026, to sell Riverside Apartments for $250.0 million. The company also updated its estimated total liquidating distributions to a range of $16.41 to $16.61 per share, which includes a previously paid $14.67 per share special distribution. Elme Communities is a real estate investment trust that manages and owns multifamily residential properties.
Elme Communities terminated a $280 million purchase and sale agreement for Riverside Apartments, prompting the company to withdraw its previously disclosed estimated ranges of liquidating distributions. The company is currently liquidating its assets, with the sale of Elme Watkins Mill completed on June 10, 2026, and three other properties under contract for $168 million. Elme Communities is a real estate investment trust that manages and sells multifamily residential properties.