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Elme Communities filings document the formal record of a Maryland real estate investment trust with shares of beneficial interest listed under ELME on the NYSE and a business historically centered on multifamily real estate. Recent Form 8-K and proxy-related disclosures record shareholder votes, the completed 19-property portfolio sale, the approved Plan of Sale and Liquidation, liquidating distribution disclosures, and the senior secured term loan used in connection with the wind-down.
The filing record also covers operating results, Regulation FD releases, governance changes by the Board of Trustees, executive compensation and retention arrangements, officer separation agreements, registered-security information, reserves for liabilities and liquidating expenses, and updates on remaining property-sale and liquidation activities.
Elme Communities (ELME) reports progress on its previously announced sale of Riverside Apartments, a 1,222‑unit community in Alexandria, Virginia, and related undeveloped land. Elme’s subsidiary agreed to sell the property to FPA Multifamily, LLC for a contract sale price of $250.0 million, subject to customary prorations and adjustments.
The inspection period expired on August 20, 2026, and the remaining $2.0 million installment of the earnest money deposit has been funded, bringing the aggregate earnest money to $4.0 million, now nonrefundable except for specified events such as seller breach or material casualty. The agreement provides for closing no later than September 14, 2026, and Elme currently expects the sale to close on that date, while cautioning there is no assurance all conditions will be satisfied. Elme also reiterates broader risks related to its Plan of Sale and Liquidation and repayment of its $520.0 million senior secured term loan from remaining property sales.
Elme Communities completed the sale of Elme Bethesda, a 193‑unit multifamily community in Bethesda, Maryland, on August 11, 2026. The property was sold for a purchase price of $58.0 million, subject to customary prorations and adjustments, under a purchase and sale agreement with an assignee of CAPREIT Acquisition Corporation.
Pro forma figures show estimated net proceeds of $55.206 million, of which $52.446 million were used to repay a portion of the company’s senior secured term loan, leaving $2.760 million of net cash proceeds. On a liquidation-basis pro forma balance sheet as of June 30, 2026, income-producing property declines by $58,000 thousand and debt payable declines by $52,446 thousand, while net assets in liquidation remain at $167,656 thousand.
The Bethesda sale follows a broader wind‑down strategy. Elme previously sold a 19‑property Cortland Portfolio for an aggregate contract sale price of $1.606 billion, repaid and terminated several major credit facilities and notes, and entered into a new $520.0 million senior secured term loan. By June 30, 2026, six additional properties had been sold for aggregate gross proceeds of approximately $294 million, and a shareholder‑approved Plan of Sale and Liquidation governs the remaining dispositions.
Elme Communities is executing a shareholder‑approved Plan of Sale and Liquidation and reports under the liquidation basis of accounting. Net assets in liquidation were $167.7 million as of June 30, 2026, down from $238.9 million at December 31, 2025, mainly from lower estimated property liquidation values and remeasurement of assets and liabilities.
Following a $1.6 billion portfolio sale in November 2025, Elme paid a special liquidating distribution of $14.67 per share on January 7, 2026. In 2026 it sold four properties for aggregate gross proceeds of approximately $199.0 million and, in the 2026 Quarter, two additional properties for about $95.0 million, applying portions of the proceeds to repay its senior secured term loan, which had $251.0 million outstanding at June 30, 2026 at an interest rate of roughly 6.38%.
As of June 30, 2026 Elme owned four Washington, DC–area multifamily assets with a combined liquidation value of $418.0 million and had signed purchase and sale agreements for three of them totaling about $168.0 million, plus a new $250.0 million contract for Riverside Apartments, all subject to inspections, regulatory requirements and other closing conditions. The company held about $41.3 million of cash and $17.3 million of restricted cash, and accrued $36.6 million of liabilities for estimated costs in excess of receipts during liquidation. On July 24, 2026, it estimated remaining liquidating distributions of $1.74–$1.94 per share, implying total liquidating distributions of $16.41–$16.61 per share including the initial payment, while cautioning that actual amounts and timing may differ.
Elme Communities advanced its Plan of Sale and Liquidation. A subsidiary agreed to sell Riverside Apartments, a 1,222‑unit community in Alexandria, Virginia, plus related land for $250.0 million, with closing targeted by September 14, 2026, subject to an inspection period, deposits and customary conditions. The Elme Bethesda sale agreement was amended to require closing no later than August 11, 2026.
In 2026 the company has sold six properties for aggregate gross proceeds of about $294 million, and its four remaining properties are under contract for about $418 million in expected gross proceeds. After paying an initial liquidating distribution of $14.67 per share, Elme currently estimates additional liquidating distributions of $1.74–$1.94 per share, for total liquidating distributions of $16.41–$16.61 per share, based on assumptions about sale prices, costs, repayment of a $520 million senior secured term loan and completion of the wind‑down in 2026.
Elme Communities received an Amendment No. 1 to a Schedule 13G in which Millennium Management LLC, Millennium Group Management LLC and Israel A. Englander report beneficial ownership of 2,196,199 shares of Elme Communities’ shares of beneficial interest, identified by CUSIP 939653101.
The reported position represents 2.5% of the class. For each reporting person, sole voting and dispositive power are listed as zero, while shared voting and shared dispositive power cover all 2,196,199 shares. The holdings are through entities over which the Millennium entities and Mr. Englander exercise control, and they state that this should not, by itself, be construed as an admission of beneficial ownership. The filing also characterizes their position as ownership of 5 percent or less of the class.
Elme Communities reports termination of a major property sale and updates its liquidation plan. A buyer terminated the $280 million purchase agreement for Riverside Apartments, a 1,222‑unit community in Alexandria, Virginia, so the company refunded the buyer’s earnest money and has restarted marketing the property.
The company has completed the sale of Elme Watkins Mill, using net proceeds to repay part of its $520 million term loan, which has a $251 million balance as of June 24, 2026. Three other properties—Elme Bethesda, The Kenmore and 3801 Connecticut Avenue—are under purchase and sale agreements for aggregate gross proceeds of $168 million, including a $58 million price for Elme Bethesda, all subject to customary closing conditions.
Because the Riverside sale fell through and market conditions in the D.C. area remain soft, Elme is withdrawing its previously disclosed estimated ranges of liquidating distributions and timing expectations for New York Stock Exchange delisting and company dissolution, and now targets completing remaining sales, delisting and dissolution as expeditiously as possible in the third or fourth quarter of 2026.
Elme Communities, through subsidiary Elme Bethesda Owner LLC, has signed a purchase and sale agreement to sell Elme Bethesda, a 193‑unit community in Bethesda, Maryland, for a contract sale price of $59.0 million, subject to customary prorations and adjustments. The Buyer, CAPREIT Acquisition Corporation, must provide a total earnest money deposit of $1 million, funded in two $500,000 installments, with the full deposit becoming nonrefundable after an inspection period that expires on June 3, 2026 unless extended. Closing is scheduled for no later than the later of July 9, 2026 or 10 business days after obtaining a compliance certificate related to Montgomery County’s right of first refusal, and the company cautions there is no assurance the sale will be completed on the anticipated terms or timeline.
Elme Communities filed a Post-Effective Amendment to its Form S-4 to remove from registration any unsold securities from the underlying Registration Statement that contemplated up to 4,500,000 common shares. The company states the offering was terminated in connection with the Plan of Sale and Liquidation approved by shareholders on October 30, 2025. The amendment is signed and dated May 26, 2026.