Elme is executing its liquidation plan methodically, with only two properties left to sell. The remaining closings (3801 Connecticut Avenue and The Kenmore) are probable and expected within weeks. Monitor for final liquidating distributions and potential conversion to a liquidating trust.
Price Chart
Executive Summary
Elme Communities completed the sale of Riverside Apartments for $250.0 million and used the proceeds to repay the remaining ~$198.6 million balance of its Term Loan, fully terminating that loan agreement and releasing all associated liens. The company also filed pro forma financials reflecting the probable sale of its two remaining properties (3801 Connecticut Avenue and The Kenmore) expected to close in late September or early October 2026, consistent with its ongoing Plan of Sale and Liquidation.
Key Facts
- Completed sale of Riverside Apartments (1,222 units in Alexandria, VA) for $250.0 million on September 14, 2026.
- Used a portion of the proceeds to repay the remaining ~$198.6 million outstanding balance of the $520.0 million Term Loan with Goldman Sachs Bank USA, terminating the loan agreement and releasing all liens.
- Pro forma financial statements show net assets in liquidation of $167.7 million as of June 30, 2026, after accounting for the Riverside and Bethesda dispositions and the probable sales of 3801 Connecticut Avenue and The Kenmore.
- The two remaining properties (3801 Connecticut Avenue and The Kenmore) are under contract with expected closings in late September or early October 2026, each with an estimated sale price of $55.0 million.
- Pro forma net loss for the ten months ended October 31, 2025 was $(242.5) million, or $(2.76) per diluted share, reflecting the disposition of the Cortland Portfolio and other transactions.
Financial Impact
Riverside sale generated $242.7 million net proceeds after adjustments and costs; $198.6 million used to fully repay the Term Loan, leaving $44.1 million net cash. Pro forma net assets in liquidation stand at $167.7 million.
Risk Factors
- Remaining property sales (3801 Connecticut Avenue and The Kenmore) are subject to closing conditions and could be delayed or terminated.
- Liquidation costs and final distributions may differ from pro forma estimates due to transaction costs, adjustments, or unforeseen liabilities.
- Forward-looking statements note risks including NYSE listing status, ability to dissolve voluntarily, and potential legal proceedings.
Investment Themes
Documents Analyzed
This report is based on 4 SEC documents filed with EDGAR.
| Document | Accession Number |
|---|---|
| 8-K Filing (Primary) | 0000104894-26-000112 |
| Document: 0000104894-26-000112-index-headers.html | 0000104894-26-000112 |
| Document: 0000104894-26-000112-index.html | 0000104894-26-000112 |
| Document: 0000104894-26-000112.txt | 0000104894-26-000112 |
Filters
| Type | Now | ||||
|---|---|---|---|---|---|
Oct 26, 2026 today | 25-NSE | — | awaiting T+5 | — | — |
Oct 26, 2026 today | 8-K | — | awaiting T+5 | — | — |
Sep 29, 2026 26d ago | 8-K | $0.0295 $0.0297 | ▼ −0.57% | ▲ +1.34% | $1.77 (−5900.00%) |
Sep 18, 2026 5w ago | 8-K | $1.75 $1.70 | ▼ −2.86% | ▼ −1.84% | $1.77 (+1.14%) |
Aug 20, 2026 9w ago | 8-K | $1.66 $1.68 | ▲ +1.20% | ▲ +0.73% | $1.77 (+6.63%) |
Jun 24, 2026 17w ago | 8-K | $1.35 $1.54 | ▼ −14.07% | ▼ −12.51% | $1.77 (−31.11%) |
Jun 1, 2026 21w ago | EFFECT | $2.05 $2.03 | ▼ −0.98% | ▲ +1.77% | $1.77 (−13.66%) |
May 11, 2026 24w ago | 8-K | $2.01 $2.01 | · 0.00% | ▼ −0.09% | $1.77 (+11.94%) |
US Market Status
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