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ACQUISITIONS AND DISPOSITIONS (Tables) | 9 Months Ended
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Sep. 30, 2020
Business Combinations [Abstract] |
Schedule of Acquisitions | Our acquisitions during the nine months ended September 30, 2020 and 2019 are detailed below. Nine Months Ended September 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 |
465 homes - Parkhouse Apartment Homes - Thornton, CO | September 22, 2020 |  | 144,750 |  |  | 144,750 |  |  | — |  |  | 10,474 |  |  | 132,105 |  |  | 2,171 |  |  | — |
Total Acquisitions |  |  | $ | 191,013 |  |  | $ | 173,350 |  |  | $ | 17,663 |  |  | $ | 12,639 |  |  | $ | 168,974 |  |  | $ | 2,995 |  |  | $ | 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. Nine Months Ended September 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 |
96 homes - FreightYard Townhomes and Flats - Minneapolis, MN | September 6, 2019 |  | 26,000 |  |  | 26,000 |  |  | — |  |  | 1,889 |  |  | 23,615 |  |  | 496 |
328 homes - Lugano at Cherry Creek - Denver, CO(2) | September 25, 2019 |  | 99,250 |  |  | 99,250 |  |  | — |  |  | 7,679 |  |  | 89,365 |  |  | 1,781 |
|  |  | $ | 169,250 |  |  | $ | 152,690 |  |  | $ | 16,560 |  |  | $ | 13,070 |  |  | $ | 152,930 |  |  | $ | 2,825 |
Other |  |  |  |  |  |  |  |  |  |  |  |  |
Minot 3100 10th St SW - Minot, ND | May 23, 2019 |  | $ | 2,112 |  |  | $ | 2,112 |  |  | — |  |  | $ | 246 |  |  | $ | 1,866 |  |  | — |
Total Acquisitions |  |  | $ | 171,362 |  |  | $ | 154,802 |  |  | $ | 16,560 |  |  | $ | 13,316 |  |  | $ | 154,796 |  |  | $ | 2,825 |
(1)Value of Series D preferred units at the acquisition date. (2)Investment allocation excludes a $425,000 acquisition credit related to retail space lease-up.
Schedule of Dispositions | The following tables detail our dispositions for the nine months ended September 30, 2020 and 2019. Nine Months Ended September 30, 2020
|  |  | (in thousands)
Dispositions | Date Disposed |  | Sale Price |  | Book Value and Sales Cost |  | Gain/(Loss)
Multifamily |  |  |  |  |  |  |
268 homes - Forest Park - Grand Forks, ND | August 18, 2020 |  | $ | 19,625 |  |  | $ | 6,884 |  |  | $ | 12,741 |
90 homes - Landmark - Grand Forks, ND | August 18, 2020 |  | 3,725 |  |  | 1,348 |  |  | 2,377 |
164 homes - Southwind - Grand Forks, ND | August 18, 2020 |  | 10,850 |  |  | 4,573 |  |  | 6,277 |
168 homes - Valley Park - Grand Forks, ND | August 18, 2020 |  | 8,300 |  |  | 4,059 |  |  | 4,241 |
|  |  | $ | 42,500 |  |  | $ | 16,864 |  |  | $ | 25,636 |
Other |  |  |  |  |  |  |
Dakota West | August 7, 2020 |  | $ | 500 |  |  | $ | 474 |  |  | $ | 26 |
Unimproved Land |  |  |  |  |  |  |
Rapid City Land - Rapid City, SD | June 29, 2020 |  | $ | 1,300 |  |  | $ | 1,490 |  |  | $ | (190) |
Total Dispositions |  |  | $ | 44,300 |  |  | $ | 18,828 |  |  | $ | 25,472 |
Nine Months Ended September 30, 2019
|  |  | (in thousands)
Dispositions | Date Disposed |  | Sale Price |  | Book Value and Sale Cost |  | Gain/(Loss)
Multifamily |  |  |  |  |  |  |
21 homes - Pinehurst - Billings, MT | July 26, 2019 |  | $ | 1,675 |  |  | $ | 961 |  |  | $ | 714 |
160 homes - Brookfield Village - Topeka, KS | September 24, 2019 |  | 10,350 |  |  | 5,853 |  |  | 4,497 |
220 homes - Crown Colony - Topeka, KS | September 24, 2019 |  | 17,200 |  |  | 7,876 |  |  | 9,324 |
54 homes - Mariposa - Topeka, KS | September 24, 2019 |  | 6,100 |  |  | 4,290 |  |  | 1,810 |
300 homes - Sherwood - Topeka, KS | September 24, 2019 |  | 26,150 |  |  | 11,536 |  |  | 14,614 |
308 homes - Villa West - Topeka, KS | September 24, 2019 |  | 22,950 |  |  | 15,165 |  |  | 7,785 |
|  |  | $ | 84,425 |  |  | $ | 45,681 |  |  | $ | 38,744 |
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 |
Weston - Weston, WI | July 31, 2019 |  | 600 |  |  | 427 |  |  | 173 |
|  |  | $ | 4,374 |  |  | $ | 4,225 |  |  | $ | 149 |
Total Dispositions |  |  | $ | 95,329 |  |  | $ | 55,954 |  |  | $ | 39,375 |

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