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ACQUISITIONS AND DISPOSITIONS (Tables) | 6 Months Ended
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Jun. 30, 2019
Business Combinations [Abstract] |
Schedule of Acquisitions | Our acquisitions during the six months ended June 30, 2019 and 2018 are detailed below. Six Months Ended June 30, 2019
| Date Acquired |  | (in thousands)
|  | Total Acquisition Cost |  |  | Form of Consideration |  | Investment Allocation
Acquisitions |  |  | Cash |  |  | Units(1) |  |  | Land |  |  | Building |  |  | Intangible Assets |
Multifamily |  |  |  |  |  |  |  |  |  |  |  |  |
272 homes - SouthFork Townhomes- Lakeville, MN | February 26, 2019 |  | $ | 44,000 |  |  | $ | 27,440 |  |  | $ | 16,560 |  |  | $ | 3,502 |  |  | $ | 39,950 |  |  | $ | 548 |
Other |  |  |  |  |  |  |  |  |  |  |  |  |
Minot 3100 10th St SW - Minot, ND(2) | May 23, 2019 |  | 2,112 |  |  | 2,112 |  |  | — |  |  | 246 |  |  | 1,866 |  |  | — |
Total Acquisitions |  |  | $ | 46,112 |  |  | $ | 29,552 |  |  | $ | 16,560 |  |  | $ | 3,748 |  |  | $ | 41,816 |  |  | $ | 548 |
(1) | Value of Series D preferred units at the acquisition date.
(2) | Acquired for use as our new Minot corporate office building after renovations have been completed.
Six Months Ended June 30, 2018
| Date Acquired |  | (in thousands)
|  | Total Acquisition Cost(1) |  |  | Investment Allocation
Acquisitions |  |  | Land |  |  | Building |  |  | Intangible Assets |
390 homes - Westend - Denver, CO | March 28, 2018 |  | $ | 128,700 |  |  | $ | 25,525 |  |  | $ | 102,101 |  |  | $ | 1,074 |
Total Acquisitions |  |  | $ | 128,700 |  |  | $ | 25,525 |  |  | $ | 102,101 |  |  | $ | 1,074 |
(1) Acquisition cost was paid in cash.
Schedule of Dispositions | The following tables detail our dispositions for the six months ended June 30, 2019 and 2018: Six Months Ended June 30, 2019
|  |  | (in thousands)
Dispositions | Date Disposed |  | Sales Price |  |  | Book Value and Sale Cost |  |  | Gain/(Loss) |
Other |  |  |  |  |  |  |
Minot 1400 31st Ave SW - Minot, ND(1) | May 23, 2019 |  | $ | 6,530 |  |  | $ | 6,048 |  |  | $ | 482 |
Unimproved Land |  |  |  |  |  |  |
Creekside Crossing - Bismarck, ND | March 1, 2019 |  | 3,049 |  |  | 3,205 |  |  | (156 | )
Minot 1525 24th Ave SW - Minot, ND | April 3, 2019 |  | 725 |  |  | 593 |  |  | 132 |
|  |  | $ | 3,774 |  |  | $ | 3,798 |  |  | $ | (24 | )
Total Dispositions |  |  | $ | 10,304 |  |  | $ | 9,846 |  |  | $ | 458 |
(1) | This property currently houses our Minot corporate office. During the second quarter of 2019, we purchased an office building which will become our new Minot corporate office after renovations are completed. We will lease space in the Minot 1400 31st Ave SW building until the new office is placed in service.
Six Months Ended June 30, 2018
|  |  | (in thousands)
Dispositions | Date Disposed |  | Sale Price |  |  | Book Value and Sale Cost |  |  | Gain/(Loss) |
Other |  |  |  |  |  |  |
43,404 sq ft Garden View - St. Paul, MN | January 19, 2018 |  | $ | 14,000 |  |  | $ | 6,191 |  |  | $ | 7,809 |
52,116 sq ft Ritchie Medical - St. Paul, MN | January 19, 2018 |  | 16,500 |  |  | 10,419 |  |  | 6,081 |
22,187 sq ft Bismarck 715 East Broadway - Bismarck, ND | March 7, 2018 |  | 5,500 |  |  | 3,215 |  |  | 2,285 |
Total Dispositions |  |  | $ | 36,000 |  |  | $ | 19,825 |  |  | $ | 16,175 |

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