Elme Communities has completed the sale of its final two remaining properties, The Kenmore and 3801 Connecticut Avenue, according to a Form 8-K filed on September 28, 2026. The company, a Maryland real estate investment trust, sold the properties to FPA Multifamily, LLC. The 3801 Connecticut Avenue property is a 307-unit community located in Washington, D.C., while The Kenmore is a 371-unit community in the same city. Both transactions were completed on September 28, 2026, with a purchase price of $55.0 million each, subject to customary adjustments and prorations.
In conjunction with the sale of these properties, Elme Communities announced an additional special liquidating distribution of $1.74 per common share. This dividend, approved by the Board of Trustees, will be paid on October 22, 2026, to shareholders of record as of the close of business on October 9, 2026. This brings the total cash liquidating distributions to $16.41 per share, inclusive of the $14.67 per share paid to shareholders in January 2026.
The company also provided an update on its wind-down process and dissolution. Elme Communities intends to voluntarily delist its common shares from the New York Stock Exchange (NYSE). The company anticipates filing a Form 25 with the SEC and NYSE on October 26, 2026, and the last day of trading on the NYSE is expected to be November 5, 2026. Following the delisting, the company plans to transfer its remaining assets and liabilities to a Maryland liquidating trust. The company intends to terminate its existence by voluntary dissolution effective November 6, 2026. The liquidating trust will be responsible for liquidating assets and distributing residual proceeds to shareholders, who will receive Beneficial Interests in the trust. All outstanding common shares will be automatically cancelled upon the transfer of assets.
