Elme Updates Liquidation Status, Expects to Sell Three Properties for $155 Million
On Friday after market close, the company provided an update regarding the status of ongoing liquidation activities under the Company's Plan of Sale and Liquidation, approved by Elme shareholders on October 30, 2025, stating: "As of January 23, 2026, the Company has entered into two purchase and sale agreements, which are no longer subject to ongoing inspection periods, pursuant to which it expects to sell three of its remaining properties - Elme Sandy Spring and Elme Marietta located in Georgia and Elme Watkins Mill located in Maryland - to various buyers for aggregate gross proceeds of approximately $155 million. The closing of each of these transactions is expected to occur later in the first quarter of 2026, subject to satisfaction of customary closing conditions, including, in the case of the Maryland property, regulatory requirements related to the sale of multifamily properties in Montgomery County, Maryland. The marketing and sale process with respect to the Company's remaining seven properties remains ongoing. The Company currently expects to finalize the sales of the two remaining Maryland properties, the one remaining Georgia property and Watergate 600, Elme's only office property, in the first quarter or early second quarter of 2026. The Company also expects to commence a formal marketing process for Riverside Apartments later this month and to continue the marketing process for the two D.C. properties, with a goal to have these three remaining properties under contract by mid-May. Elme continues to target completion of the sale of all 10 remaining properties by mid-year 2026." Shares of Elme are down 20% in early Monday trading at $2.35.
