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ACQUISITIONS AND DISPOSITIONS (Tables) | 6 Months Ended
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Jun. 30, 2020
Business Combinations [Abstract] |
Schedule of Acquisitions | Our acquisitions during the six months ended June 30, 2020 and 2019 are detailed below. Six Months Ended June 30, 2020
| Date Acquired |  | (in thousands)
|  | Total Acquisition Cost |  |  | Form of Consideration |  | Investment Allocation
Acquisitions |  |  | Cash |  |  | Other(1) |  |  | Land |  |  | Building |  |  | Intangible Assets |  |  | Other(2) |
182 homes - Ironwood Apartments - New Hope, MN | March 5, 2020 |  | $ | 46,263 |  |  | $ | 28,600 |  |  | $ | 17,663 |  |  | $ | 2,165 |  |  | $ | 36,869 |  |  | $ | 824 |  |  | $ | 6,405 |
Total Acquisitions |  |  | $ | 46,263 |  |  | $ | 28,600 |  |  | $ | 17,663 |  |  | $ | 2,165 |  |  | $ | 36,869 |  |  | $ | 824 |  |  | $ | 6,405 |
(1) | Payoff of note receivable and accrued interest by seller at closing.
(2) | Consists of TIF note acquired. Refer to Note 2 for further discussion.
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.
Schedule of Dispositions | The following tables detail our dispositions for the six months ended June 30, 2020 and 2019. Six Months Ended June 30, 2020
|  |  | (in thousands)
Dispositions | Date Disposed |  | Sale Price |  |  | Book Value and Sales Cost |  |  | Gain/(Loss) |
Unimproved Land |  |  |  |  |  |  |
Rapid City Land - Rapid City, SD | June 29, 2020 |  | $ | 1,300 |  |  | $ | 1,490 |  |  | $ | (190 | )
Total Dispositions |  |  | $ | 1,300 |  |  | $ | 1,490 |  |  | $ | (190 | )
Six Months Ended June 30, 2019
|  |  | (in thousands)
Dispositions | Date Disposed |  | Sale Price |  |  | Book Value and Sale Cost |  |  | Gain/(Loss) |
Other |  |  |  |  |  |  |
Minot 1400 31st Ave SW - Minot, ND | 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 |

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