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ACQUISITIONS AND DISPOSITIONS

9 Months Ended

Sep. 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 $132.2 million and $281.2 million of new real estate during the three and nine months ended September 30, 2025, respectively. Centerspace did not acquire new real estate during the three and nine months ended September 30, 2024. The acquisitions for the nine months ended September 30, 2025 are detailed below.

									(in thousands)
									Form of Consideration												Investment Allocation
Acquisitions			Date Acquired						Cash(1)												Other(2)						Land						Building & Improvements						Intangible Assets(3)						Other(4)
341 homes - Sugarmont - Salt Lake City, UT			May 30, 2025						$	149,000											$	—					$	20,086					$	124,649					$	4,265					$	—
420 homes - Railway Flats - Loveland, CO			July 29, 2025						55,704												76,496						10,387						94,198						4,046						23,569
Total Acquisitions									$	204,704											$	76,496					$	30,473					$	218,847					$	8,311					$	23,569

(1)Excludes $1.5 million in capitalized transaction cost.

(2)Assumption of seller’s debt upon closing.

(3)Intangible assets consist of in-place leases valued at the time of acquisition.

(4)Debt premium on assumed mortgages acquired.

DISPOSITIONS

Centerspace disposed of five apartment communities in one transaction for an aggregate sales price of $124.0 million during the three and nine months ended September 30, 2025. Centerspace did not dispose of any real estate during the three months ended September 30, 2024. During the nine months ended September 30, 2024, Centerspace disposed of two apartment communities in two transactions for an aggregate sales price of $19.0 million. The dispositions for the nine months ended September 30, 2025 and 2024 are detailed below.

Nine Months Ended September 30, 2025

									(in thousands)
Dispositions			Date Disposed						Sale Price						Net Book Value and Transaction Costs						Gain/(Loss)
832 homes - 5 St. Cloud apartment communities			September 23, 2025						$	124,000					$	44,469					$	79,531
Total Dispositions									$	124,000					$	44,469					$	79,531

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)

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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 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

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