Elme Communities Announces Property Sales, NYSE Delisting and Liquidation

What Happened
Elme Communities (ELME) filed an 8-K on Sept. 29, 2026 reporting completion of two previously announced property dispositions on Sept. 28, 2026: 3801 Connecticut Avenue (307 units) and The Kenmore (371 units), each sold to FPA Multifamily, LLC for $55.0 million (subject to customary adjustments). The filing also confirms the company’s ongoing wind-down: notice to the NYSE of an intended voluntary delisting, an anticipated Form 25 filing on Oct. 26, 2026, and an expected last NYSE trading day of Nov. 5, 2026 (share transfer books to close at 4:00 p.m. ET that day). The 8-K includes a Sept. 29, 2026 press release updating liquidation activity, the declaration of an additional liquidating distribution, and plans to establish a liquidating trust to complete the wind-down.

Key Details

• Closed sales (Sept. 28, 2026): 3801 Connecticut Ave (307 units) and The Kenmore (371 units), each for $55.0 million, buyer FPA Multifamily, LLC.
• Additional recent dispositions & actions reflected in pro forma statements: Elme Sandy Springs and Elme Marietta (sold Feb 2026), Riverside (sold Sept 2026), Elme Bethesda (sold Aug 11, 2026) and repayment of the Term Loan on Sept 14, 2026.
• Delisting timeline: notice provided to NYSE; Form 25 expected Oct 26, 2026; anticipated last NYSE trading day Nov 5, 2026 (transfer books close 4:00 p.m. ET).
• Corporate wind-down items: declaration of an additional liquidating distribution, formation of a liquidating trust, and termination of certain deferred compensation/retirement plans with remaining amounts to be paid on or before dissolution.

Why It Matters
For investors, these disclosures confirm Elme is in active liquidation: major property sales are complete, the company plans to delist from the NYSE and intends to transfer remaining assets into a liquidating trust and dissolve. Shareholders should expect further liquidation distributions (timing and amounts subject to adjustments and remaining liabilities) and that the company’s common shares will cease trading on the NYSE after the announced date. The filing also highlights potential risks the company cites (litigation, remaining liabilities, timing uncertainty) that could affect final distributions.