secwatch.observer — SEC 8-K summary
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Issuer:     Elme Communities (ELME)
CIK:        0000104894
Form:       8-K/A
Filed at:   2025-11-18T23:59:59+00:00
Accession:  0000104894-25-000138
Event type: m_and_a
Sentiment:  negative
Materiality: 0.90
Item codes: 9.01
LLM model:  deepseek-v4-flash:cloud@v2

Elme completes $1.606B sale of 19 properties to Cortland, repays debt, suspends dividend
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- Sold 19 multifamily properties to Cortland for $1.606B cash; net cash proceeds of ~$1.574B after credits and transaction costs.
- Repaid all existing debt including $186M revolver; total prepayment of $739.5M; recorded $45.5M loss on extinguishment.
- Originated $520M new term loan at SOFR+2.25% secured by remaining 10 properties; net new debt proceeds ~$490.6M.
- Suspended regular quarterly dividend; shareholders approved a Plan of Sale and Liquidation on October 30, 2025.
- Pro forma net loss of $204.9M for nine months ended Sep 30, 2025; $91.4M loss for FY2024.

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/104894/000010489425000138/0000104894-25-000138-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/104894/000010489425000138/elme-20251112.htm
  HTML page:      https://secwatch.observer/filing/0000104894-25-000138

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