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’ Board approved termination of retention agreements for Officers Paul McDermott, Tiffany Butcher and W. Drew Hammond, effective November 6, 2026. They are to receive cash lump sums of $5,062,631, $1,029,484 and $1,661,939, respectively. The company expects dissolution on November 6 after transferring its remaining assets and liabilities to a Maryland common law trust. Following that transfer and dissolution, the Liquidating Trust is expected to enter individual, part-time, as-needed consulting agreements with Hammond and Butcher to assist its trustee with remaining liabilities.
ELME shares began trading over-the-counter (OTC) as ELMES on October 26, 2026. The NYSE filed a Form 25-NSE delisting notice that day, with delisting to become effective 10 calendar days after the filing.
Elme Communities' shares of beneficial interest are the class identified in a Form 25 notice concerning removal from listing and registration on the New York Stock Exchange. The exchange stated that it complied with its rules to strike the class, and Elme Communities is stated to have complied with exchange requirements governing voluntary withdrawal.
Elme Communities (ELME) said the New York Stock Exchange (NYSE) began proceedings to delist its common shares and immediately suspended trading on October 23, 2026, citing “abnormally low selling price” levels. Elme does not intend to appeal and expects the shares to be delisted; it anticipates OTC trading under ELMES beginning October 26, 2026, while noting there is no assurance an active OTC market or liquidity will develop.
Elme intends to dissolve voluntarily effective November 6, 2026, following delisting, and transfer its remaining assets and liabilities to a Maryland liquidating trust. Upon transfer, shareholders will be deemed to receive nontransferable trust interests based on their ownership at the close of the last trading day, and the common shares will be canceled. Any additional distributions will be determined by the trustee and depend on amounts remaining after liabilities.
Elme Communities completed the sales of 3801 Connecticut Avenue and The Kenmore on September 28, 2026, for purchase prices of $55.0 million each, subject to customary adjustments and prorations. After prorations and closing costs, the sales generated aggregate net proceeds of approximately $103.2 million, completing dispositions of all remaining properties.
The board declared an additional liquidating distribution of $1.74 per Common Share, payable October 22, 2026, to shareholders of record October 9, 2026. Aggregate cash liquidating distributions total $16.41 per share, including $14.67 paid in January 2026. Elme anticipates filing Form 25 on October 26 and last NYSE trading on November 5; it intends dissolution effective November 6, 2026.
Before dissolution, Elme intends to transfer its remaining assets and liabilities to a Maryland liquidating trust. Shareholders will automatically receive trust interests proportional to their ownership at the close of business on the last trading day; no action is required. The interests will not trade on an exchange and generally will not be transferable, while Common Shares will be cancelled. Elme estimates approximately $23.3 million in remaining liabilities, costs and expenses and expects to transfer approximately $9.5 million in additional cash reserves for costs that exceed estimates or arise later.
Elme Communities (ELME) reported that on September 14, 2026 it used proceeds from the sale of Riverside Apartments to repay in full the remaining balance of its senior secured Term Loan with Goldman Sachs Bank USA, thereby terminating the $520.0 million facility and releasing all mortgages and liens on the 10 properties that had secured it. The outstanding balance before this repayment was approximately $198.6 million.
The company completed the sale of Riverside Apartments, a 1,222‑unit community in Alexandria, Virginia, for a purchase price of $250.0 million, generating net cash proceeds of $44.1 million after repaying the remaining Term Loan. Together with the earlier Bethesda disposition and expected sales of 3801 Connecticut Avenue and The Kenmore, pro forma cash, cash equivalents and restricted cash at June 30, 2026 would be $192.9 million, with net assets in liquidation of $167.7 million under the company’s Plan of Sale and Liquidation.
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.