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ACQUISITIONS AND DISPOSITIONS | 6 Months Ended
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Jun. 30, 2025
Business Combination, Asset Acquisition, Transaction between Entities under Common Control, and Joint Venture Formation [Abstract] |
ACQUISITIONS AND DISPOSITIONS | ACQUISITIONS AND DISPOSITIONS ACQUISITIONS Centerspace acquired $149.0 million of new real estate during the three and six months ended June 30, 2025. Centerspace did not acquire new real estate during the three and six months ended June 30, 2024. The acquisitions for the six months ended June 30, 2025 are detailed below.
|  |  | (in thousands)
|  |  | Form of Consideration |  | Investment Allocation
Acquisitions | Date Acquired |  | Cash(1) |  |  |  |  |  | Land |  | Building & Improvements |  | Intangible Assets(2) |  |
341 homes - Sugarmont - Salt Lake City, UT | May 30, 2025 |  | $ | 149,000 |  |  |  |  |  |  | $ | 20,086 |  |  | $ | 124,649 |  |  | $ | 4,265 |  |  |
Total Acquisitions |  |  | $ | 149,000 |  |  |  |  |  |  | $ | 20,086 |  |  | $ | 124,649 |  |  | $ | 4,265 |  |  |
(1)Excludes $1.1 million in capitalized transaction cost. (2)Intangible assets consist of in-place leases valued at the time of acquisition. DISPOSITIONS Centerspace did not dispose of any real estate during the three and six months ended June 30, 2025 and the three months ended June 30, 2024. During the six months ended June 30, 2024, Centerspace disposed of two apartment communities in two transactions for an aggregate sales price of $19.0 million. The dispositions for the six months ended June 30, 2024 are detailed below.
Six Months Ended June 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) |

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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 205 -SubTopic 20 -Name Accounting Standards Codification -Publisher FASB -URI https://asc.fasb.org/205-20/tableOfContent Reference 2: http://www.xbrl.org/2009/role/commonPracticeRef -Topic 805 -Name Accounting Standards Codification -Publisher FASB -URI https://asc.fasb.org/805/tableOfContent + Details
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