It also allowed the REIT to update its payout estimate for shareholders, after having withdrawn its previous estimate in June. Elme said then that it would not be able to fully repay its term loan without sufficient proceeds from its remaining properties, including from Riverside. Elme said in its latest SEC filing it has sold six of its remaining properties to date for total gross proceeds of roughly $294M. It said it plans to return net proceeds from the sales to Elme shareholders “when appropriate and in the Board’s discretion.” The previous estimate was in part based on the price of the now-terminated contract for Riverside.