Key Highlights

● Elme sold 3801 Connecticut Avenue and The Kenmore to FPA Multifamily on September 28, 2026 for $55.0 million each.

● Net proceeds were $52.111 million for 3801 Connecticut Avenue and $51.105 million for The Kenmore, about $103.2 million together.

● A $1.74 per share liquidating distribution is payable October 22, 2026 to shareholders of record on October 9, 2026.

● November 5, 2026 is expected to be the last NYSE trading day, with dissolution taking effect November 6, 2026.

Elme Communities (NYSE:ELME), the apartment real estate Investment trust that has been winding down under a shareholder-approved plan of sale and liquidation, reported in a Form 8-K that it has sold its last two remaining apartment communities, both in Washington, DC, and has set the timetable for the end of its New York Stock Exchange listing. The filing, dated September 28, 2026 and submitted on September 29, also discloses a further liquidating distribution of $1.74 per common share.

The Two Final Property Sales

Under Item 2.01, Elme reported that it completed the sale of 3801 Connecticut Avenue, a 307-unit multifamily community, and The Kenmore, a 371-unit multifamily community, on September 28, 2026. The buyer in each case was FPA Multifamily, LLC, and each property sold for $55.0 million. The filing lists net proceeds of $52.111 million for 3801 Connecticut Avenue and $51.105 million for The Kenmore, after adjustments and costs, which together come to about $103.2 million.

The filing notes that FPA had earlier agreed to buy other Elme properties, identifying Elme Sandy Springs and Elme Marietta, sold in February 2026, and Riverside Apartments, sold in September 2026.

The Liquidating Distribution

Elme declared an additional liquidating distribution of $1.74 per common share. According to the press release, the distribution is payable on October 22, 2026 to shareholders of record on October 9, 2026. The company states that, together with the $14.67 per share paid in January 2026, cumulative liquidating distributions come to $16.41 per share.

The press release also shows what the company is holding back, estimating wind-down costs of approximately $23.3 million and cash reserves for contingencies of approximately $9.5 million. It says shareholders approved the Plan of Sale and Liquidation at a special meeting on October 30, 2025. The filing does not estimate any distribution beyond the $1.74 payment.

Delisting and Dissolution Timeline

Items 3.01 and 8.01 set out the sequence of events for the shares. Elme states that it provided notice to the NYSE on September 29, 2026 and anticipates that a Form 25, the filing used to remove a security from listing and registration on an exchange, will be filed on or about October 26, 2026. November 5, 2026 is expected to be the last day the common shares trade on the NYSE, and the company's stock transfer books are scheduled to close at 4:00 p.m. Eastern Time that day. The voluntary dissolution is to take effect on November 6, 2026, at which point the common shares of beneficial interest, Par Value $0.01, are to be automatically cancelled.

Before dissolution, the filing says, Elme intends to transfer all of its remaining Assets and liabilities to a Maryland liquidating trust. Shareholders would automatically receive beneficial interests in that trust in proportion to their holdings, and the filing states that shareholders will not be required to take any action to receive them. The interests are described as non-transferable, will not trade on the NYSE or any other exchange, and will not be represented by certificates. The press release also says FTI Consulting, Inc. (NYSE:FCN) is expected to be retained to provide wind-down services.

The filing anticipates that the trust will be required to file only annual reports on Form 10-K containing unaudited financial statements, along with current reports on Form 8-K.

Elme Dates From October 9 to Dissolution

The first date to note is October 9, 2026, the Record Date for the $1.74 distribution, followed by payment on October 22, 2026. Elme anticipates filing the Form 25 on or about October 26, 2026. November 5, 2026 is expected to be the final NYSE trading day and the date the stock transfer books close, with dissolution taking effect on November 6, 2026 and the transfer of remaining assets and liabilities to the liquidating trust preceding it.