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ACQUISITIONS AND DISPOSITIONS | 12 Months Ended
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Dec. 31, 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 $281.2 million and $53.4 million of new real estate during the years ended December 31, 2025 and 2024, respectively. The Company’s acquisitions during the years ended December 31, 2025 and 2024 are detailed below. Year Ended December 31, 2025
|  | Date Acquired | (in thousands)
|  | Total Acquisition Cost(1) | Form of Consideration | Investment Allocation
Acquisitions |  | Cash |  | Other(2) | Land | Building | Intangible Assets(3) | Other(4)
341 homes - Sugarmont - Salt Lake City, UT |  | May 30, 2025 | $ | 149,000 |  | $ | 149,000 |  |  | $ | — |  | $ | 20,086 |  | $ | 124,649 |  | $ | 4,265 |  | $ | — |
420 homes - Railway Flats - Loveland, CO |  | July 29, 2025 | 132,200 |  | 55,704 |  |  | 76,496 |  | 10,387 |  | 94,198 |  | 4,046 |  | 23,569 |
Total Acquisitions |  |  | $ | 281,200 |  | $ | 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. Year Ended December 31, 2024
|  | Date Acquired | (in thousands)
|  | Total Acquisition Cost(1) | Form of Consideration | Investment Allocation
Acquisitions |  | Cash | Units(2) | Other(3) | Land | Building | Intangible Assets(4) | Other(5)
129 homes - The Lydian - Denver, CO |  | October 1, 2024 | $ | 53,359 |  | $ | 484 |  | $ | 13,875 |  | $ | 39,000 |  | $ | 4,804 |  | $ | 34,997 |  | $ | 2,263 |  | $ | 11,295 |
Total Acquisitions |  |  | $ | 53,359 |  | $ | 484 |  | $ | 13,875 |  | $ | 39,000 |  | $ | 4,804 |  | $ | 34,997 |  | $ | 2,263 |  | $ | 11,295 |
(1)Excludes $546,000 in capitalized transaction cost. (2)Fair value of operating partnership units issued on acquisition, including a $641,000 fair value adjustment. (3)Assumption of seller's debt upon closing. (4)Intangible assets consist of in-place leases valued at the time of acquisition. (5)Debt premium on assumed mortgage and TIF note acquired. Refer to Note 2 for further TIF note discussion. DISPOSITIONS During the year ended December 31, 2025, Centerspace disposed of twelve apartment communities and associated commercial space, in addition to its corporate office building, in three transactions for an aggregate sales price of $215.5 million. During the year ended December 31, 2024, Centerspace disposed of two apartment communities in two exchange transactions for an aggregate sales price of $19.0 million. The dispositions for the years ended December 31, 2025 and 2024 are detailed below. Year Ended December 31, 2025
|  |  | (in thousands)
|  | Date |  | Book Value |
Dispositions |  | Disposed | Sales Price | and Sale Cost | Gain/(Loss)
Multifamily |  |  |  |  |
832 homes - 5 St. Cloud apartment communities |  | September 23, 2025 | $ | 124,000 |  | $ | 44,451 |  | $ | 79,549 |
679 homes and related commercial space - 7 Minneapolis apartment communities |  | November 6, 2025 | 88,075 |  | 88,050 |  | 25 |
Other - Commercial |  |  |  |  |
Corporate Office - Minot, ND |  | December 15, 2025 | 3,400 |  | 3,504 |  | (104) |
Total Dispositions |  |  | $ | 215,475 |  | $ | 136,005 |  | $ | 79,470 |
Year Ended December 31, 2024
|  |  | (in thousands)
|  | Date |  | Book Value |
Dispositions |  | Disposed | Sales Price | and Sale Cost | Gain/(Loss)
Multifamily |  |  |  |  |
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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