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ACQUISITIONS AND DISPOSITIONS

9 Months Ended

Sep. 30, 2024

Business Combination, Asset Acquisition, and Joint Venture Formation [Abstract]

ACQUISITIONS AND DISPOSITIONS

ACQUISITIONS AND DISPOSITIONS

ACQUISITIONS

Centerspace did not acquire new real estate during the three and nine months ended September 30, 2024 and 2023.

DISPOSITIONS

Centerspace did not dispose of any real estate during the three months ended September 30, 2024. During the three months ended September 30, 2023, Centerspace disposed of four apartment communities and associated commercial space, in one transaction for an aggregate sales price of $82.5 million. During the nine months ended September 30, 2024, Centerspace disposed of two apartment communities in two exchange transactions for an aggregate sales price of $19.0 million. During the nine months ended September 30, 2023, Centerspace disposed of 13 apartment communities and associated commercial space, in five transactions for an aggregate sales price of $226.8 million. The dispositions for the nine months ended September 30, 2024 and 2023 are detailed below.

Nine Months Ended September 30, 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)

Nine Months Ended September 30, 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)
712 homes - 4 North Dakota apartment communities			September 14, 2023						$	82,500					$	71,218					$	11,282
Total Dispositions									$	226,755					$	155,314					$	71,441

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- References

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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

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