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MEZZANINE EQUITY AND EQUITY (Tables) | 12 Months Ended
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Dec. 31, 2024
Equity [Abstract] |
Schedule of Conversions of Stock | Centerspace redeemed Units in exchange for common shares in connection with Unitholders exercising their exchange rights during the years ended December 31, 2024 and 2023 as detailed in the table below.
|  | (in thousands)
|  | Number of | Total Book
|  | Units | Value
Year ended December 31, 2024 |  | 71 |  | $ | (2,663) |
Year ended December 31, 2023 |  | 109 |  | $ | (1,910) |
Pursuant to the exercise of exchange rights, the Company redeemed Units for cash during the years ended December 31, 2024 and 2023 as detailed in the table below.
|  | (in thousands, except per Unit data)
|  | Number of | Aggregate | Average Price
|  | Units Redeemed | Cost | Per Unit
Year ended December 31, 2024 |  | — |  | $ | — |  | $ | — |
Year ended December 31, 2023 |  | 2 |  | $ | 130 |  | $ | 54.05 |
The Company redeemed Series E preferred units in exchange for common shares in connection with Series E unitholders exercising their exchange rights during the years ended December 31, 2024 and 2023 as detailed below.
|  | (in thousands)
|  | Number of Series E | Number of | Total
|  | Preferred Units Redeemed | Common Shares Issued | Value
Year ended December 31, 2024 |  | 143 |  | 172 |  | $ | 8,938 |
Year ended December 31, 2023 |  | 26 |  | 31 |  | $ | 1,390 |
The Company redeemed Series E preferred units in exchange for cash in connection with Series E unitholders exercising their exchange rights during the years ended December 31, 2024 and 2023 as detailed below.
|  | (in thousands)
|  | Number of Series E | Aggregate | Average Price
|  | Preferred Units Redeemed | Cost | Per Series E Unit (1)
Year ended December 31, 2024 |  | — |  | $ | — |  | $ | — |
Year ended December 31, 2023 |  | 7 |  | $ | 447 |  | $ | 52.45 |
(1)Average price per Series E unit factoring in conversion rate of 1.20482 Units for each Series E preferred unit.
Schedule of Sale of Common Shares | The table below provides details on the sale of common shares under the ATM Program during the years ended December 31, 2024 and 2023.
| (in thousands, except per share amounts)
| Number of Common Shares | Total Consideration(1) | Average Price Per Share(1)
Year ended December 31, 2024(2) | 1,587 |  | $ | 112,613 |  | $ | 71.66 |
Year ended December 31, 2023 | — |  | $ | — |  | $ | — |
(1)Total consideration is net of $1.1 million in commissions for the year ended December 31, 2024. (2)Includes 869,000 shares sold on a forward basis for $62.7 million which were physically settled during the year ended December 31, 2024.
Schedule of Repurchase Agreements | The table below provides details on the shares repurchased during the years ended December 31, 2024 and 2023. As of December 31, 2024, the Company had $4.7 million remaining authorized for purchase under this program.
| (in thousands, except per share amounts)
| Number of Common Shares |  | Aggregate Cost(1) | Average Price Per Share(1)
Year ended December 31, 2024 | 88 |  |  | $ | 4,703 |  | $ | 53.62 |
Year ended December 31, 2023 | 216 |  |  | $ | 11,539 |  | $ | 53.44 |
(1)Amount includes commissions.

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