Elme Communities Provides Update On Liquidation Activities
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Elme Communities has announced an update on its liquidation activities, entering agreements to sell three properties for $155 million, with closures expected in Q1 2026. CFO Steven Freishtat is set to step down, with W. Drew Hammond taking over. The company plans to keep its common shares listed on the NYSE and does not anticipate voluntary delisting before selling a substantial portion of its remaining properties. The marketing and sale process for the remaining seven properties is ongoing, with a target to complete sales of all ten properties by mid-2026.
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