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ACQUISITIONS AND DISPOSITIONS (Tables)
 9 Months Ended
Sep. 30, 2025
Business Combination, Asset Acquisition, Transaction between Entities under Common Control, and Joint Venture Formation [Abstract]  
Schedule of Acquisitions 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, 202555,704 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.
Schedule of Dispositions The dispositions for the nine months ended September 30, 2025 and 2024 are detailed below.
Nine Months Ended September 30, 2025
(in thousands)
DispositionsDate
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)
DispositionsDate
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, 202412,800 13,080 (280)
Total Dispositions$19,000 $19,577 $(577)