# Elme Communities (ELME) — divestiture/asset_sale [pending]
Source: SEC API (secapi.ai) · situation sit_1ce443764bf18326c775 · retrieved 2026-08-11T16:14:19.602Z

## Overview
Elme Communities is a Maryland-incorporated real estate investment trust (REIT) engaged in the ownership and operation of multifamily and office properties; it is currently executing a Plan of Sale and Liquidation approved by shareholders on October 30, 2025.

Elme Communities' wholly-owned subsidiary Elme Riverside Apartments LLC entered into a purchase and sale agreement with FPA Multifamily, LLC on July 23, 2026, for the sale of Riverside Apartments, a 1,222-unit multifamily community in Alexandria, Virginia, and related undeveloped land for a contract sale price of $250.0 million, subject to customary prorations and adjustments. The agreement requires an aggregate earnest money deposit of $4.0 million, with $2.0 million due within one business day of signing and the remaining $2.0 million due within one business day after expiration of the inspection period (August 20, 2026, unless extended). The sale is expected to close no later than September 14, 2026, subject to satisfaction of closing conditions and completion of the inspection period.

## Terms
- Counterparty: FPA Multifamily, LLC · Deal value: $250.0M · Consideration: cash

## Key dates
- Announced 2026-07-24 · Expiry 2026-08-20 · Expected close 2026-09-14

## Timeline
- 2026-07-24 · 8-K (0000104894-26-000091): 8-K - Elme Communities — *Elme Communities is a Maryland-incorporated real estate investment trust (REIT) engaged in the ownership and operation of multifamily and office properties; it is currently executing a Plan of Sale and Liquidation approved by shareholders on October 30, 2025.* Elme Communities' wholly-owned subsidiary Elme Riverside Apartments LLC entered into a purchase and sale agreement with FPA Multifamily, LLC on July 23, 2026, for the sale of Riverside Apartments, a 1,222-unit multifamily community in Alexandria, Virginia, and related undeveloped land for a contract sale price of $250.0 million, subject to customary prorations and adjustments. The agreement requires an aggregate earnest money deposit of $4.0 million, with $2.0 million due within one business day of signing and the remaining $2.0 million due within one business day after expiration of the inspection period (August 20, 2026, unless extended). The sale is expected to close no later than September 14, 2026, subject to satisfaction of closing conditions and completion of the inspection period.
  https://www.sec.gov/Archives/edgar/data/104894/0000104894-26-000091.txt

## Citations
- 0000104894-26-000091 — https://www.sec.gov/cgi-bin/browse-edgar?action=getcompany&type=&dateb=&owner=include&count=40&search_text=000010489426000091