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ACQUISITIONS AND DISPOSITIONS | 3 Months Ended
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Mar. 31, 2024
Business Combination and Asset Acquisition [Abstract] |
ACQUISITIONS AND DISPOSITIONS | ACQUISITIONS AND DISPOSITIONS ACQUISITIONS Centerspace did not acquire new real estate during the three months ended March 31, 2024 and 2023. DISPOSITIONS During the three months ended March 31, 2024, Centerspace disposed of two apartment communities in two exchange transactions for an aggregate sales price of $19.0 million. During the three months ended March 31, 2023, Centerspace disposed of nine apartment communities, in four exchange transactions for an aggregate sales price of $144.3 million. The dispositions for the three months ended March 31, 2024 and 2023 are detailed below. Three Months Ended March 31, 2024
|  |  | (in thousands)
Dispositions | Date Disposed |  | Sale Price |  | Net Book Value and Transaction Costs |  | Gain/(Loss)
69 homes - Southdale Parc - Richfield, MN | February 29, 2024 |  | $ | 6,200 |  |  | $ | 6,497 |  |  | $ | (297) |
136 homes - Wingate - New Hope, MN | February 29, 2024 |  | $ | 12,800 |  |  | $ | 13,080 |  |  | $ | (280) |
Total Dispositions |  |  | $ | 19,000 |  |  | $ | 19,577 |  |  | $ | (577) |
Three Months Ended March 31, 2023
|  |  | (in thousands)
Dispositions | Date Disposed |  | Sale Price |  | Net Book Value and Transaction Costs |  | Gain/(Loss)
115 homes - Boulder Court - Eagan, MN | March 8, 2023 |  | $ | 14,605 |  |  | $ | 4,970 |  |  | $ | 9,635 |
498 homes - 2 Nebraska apartment communities | March 14, 2023 |  | $ | 48,500 |  |  | $ | 14,975 |  |  | $ | 33,525 |
892 homes - 5 Minnesota apartment communities | March 15, 2023 |  | $ | 74,500 |  |  | $ | 55,053 |  |  | $ | 19,447 |
62 homes - Portage - Minneapolis, MN | March 15, 2023 |  | $ | 6,650 |  |  | $ | 9,098 |  |  | $ | (2,448) |
Total Dispositions |  |  | $ | 144,255 |  |  | $ | 84,096 |  |  | $ | 60,159 |

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- Definition The entire disclosure for business combinations, including leverage buyout transactions (as applicable), and divestitures. This may include a description of a business combination or divestiture (or series of individually immaterial business combinations or divestitures) completed during the period, including background, timing, and assets and liabilities recognized and reclassified or sold. This element does not include fixed asset sales and plant closings. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Topic 805 -Name Accounting Standards Codification -Publisher FASB -URI https://asc.fasb.org//805/tableOfContent Reference 2: http://fasb.org/us-gaap/role/ref/legacyRef -Topic 205 -SubTopic 20 -Name Accounting Standards Codification -Publisher FASB -URI https://asc.fasb.org//205-20/tableOfContent + Details
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