Elme Communities Provides Update On Liquidation Activities
Elme Communities announced the sale of six properties in 2026 for approximately $294 million and entered a new purchase agreement for Riverside Apartments at $250.0 million after a prior agreement was terminated. The company updated its total estimated liquidating distributions to a range of $16.41 to $16.61 per share, down from the previous estimate of $16.74 to $17.02, citing lower Riverside pricing and increased expenses.
Key figures
- Term loan balance
- $251 million
- Initial distribution
- $14.67 per share
- Previous total estimate
- $16.74 - $17.02 per share
- Proceeds under contract
- $168 million
- Proceeds sold properties
- $294 million
- Riverside contract price
- $250.0 million
- Total distribution estimate
- $16.41 - $16.61 per share
- Additional distribution estimate
- $1.74 - $1.94 per share
AI analysis
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