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ACQUISITIONS AND DISPOSITIONS (Tables)
 9 Months Ended
Sep. 30, 2021
Business Combination and Asset Acquisition [Abstract]  
Schedule of Acquisitions The acquisitions during the nine months ended September 30, 2021 and 2020 are detailed below.
Nine Months Ended September 30, 2021
Date
Acquired		(in thousands)
Total
Acquisition
Cost(1)
Form of ConsiderationInvestment Allocation
AcquisitionsCash
Units(2)
Other(3)
LandBuildingIntangible
Assets
Other(4)
256 homes - Union Pointe - Longmont, CO
January 6, 2021$76,900 $76,900 $— $— $5,727 $69,966 $1,207 $— 
120 homes - Bayberry Place - Minneapolis, MN
September 1, 202116,673 898 9,855 5,920 1,807 14,113 753 — 
251 homes - Burgandy & Hillsboro Court - Minneapolis, MN
September 1, 202135,569 2,092 22,542 10,935 2,834 31,148 1,587 — 
97 homes - Venue on Knox - Minneapolis, MN
September 1, 202118,896 500 11,375 7,021 3,438 14,743 715 — 
120 homes - Gatewood - St. Cloud, MN
September 1, 20217,781 378 3,388 4,015 327 6,858 596 — 
84 homes - Grove Ridge - Minneapolis, MN
September 1, 202112,060 121 8,579 3,360 1,250 10,271 539 — 
119 homes - The Legacy - St. Cloud, MN
September 1, 202110,560 229 5,714 4,617 412 9,556 592 — 
151 homes - New Hope Garden & Village - Minneapolis, MN
September 1, 202115,006 1,435 10,812 2,759 1,603 12,578 825 — 
330 homes - Palisades - Minneapolis, MN
September 1, 202153,354 2,884 30,470 20,000 6,919 46,577 2,211 (2,353)
96 homes - Plymouth Pointe - Minneapolis, MN
September 1, 202114,450 370 9,061 5,019 1,042 12,809 599 — 
93 homes - Pointe West - St. Cloud, MN
September 1, 20217,558 91 3,605 3,862 246 6,849 463 — 
301 homes - River Pointe - Minneapolis MN
September 1, 202138,348 2,249 21,653 14,446 3,346 33,117 1,885 — 
70 homes - Southdale Parc - Minneapolis, MN
September 1, 20219,670 165 7,907 1,598 1,569 7,740 361 — 
62 homes - Portage - Minneapolis, MN
September 1, 20219,171 323 5,588 3,260 2,133 6,685 353 — 
200 homes - Windsor Gates - Minneapolis, MN
September 1, 202122,231 1,122 12,080 9,029 2,140 18,943 1,148 — 
136 homes - Wingate - Minneapolis, MN
September 1, 202115,784 723 10,246 4,815 1,480 13,530 774 — 
178 homes - Woodhaven - Minneapolis, MN
September 1, 202125,009 1,682 15,200 8,127 3,940 20,080 989 — 
288 homes - Woodland Pointe - Minneapolis, MN
September 1, 202147,796 437 29,438 17,921 5,367 40,422 2,007 — 
$436,816 $92,599 $217,513 $126,704 $45,580 $375,985 $17,604 $(2,353)
Total Acquisitions$436,816 $92,599 $217,513 $126,704 $45,580 $375,985 $17,604 $(2,353)
(1)Includes $36.1 million for additional fair value of Series E preferred units for the September 1, 2021 portfolio acquisition
(2)Fair value of Series E preferred units at the acquisition date
(3)Payoff of debt or assumption of seller's debt upon closing
(4)Debt discount on assumed mortgage
Nine Months Ended September 30, 2020
Date
Acquired		(in thousands)
Total
Acquisition
Cost		Form of ConsiderationInvestment Allocation
AcquisitionsCash
Other(1)
LandBuildingIntangible
Assets
Other(2)
182 homes - Ironwood - New Hope, MN
March 5, 2020$46,263 $28,600 $17,663 $2,165 $36,869 $824 $6,405 
465 homes - Parkhouse Apartment Homes - Thornton, CO
September 22, 2020144,750 144,750 — 10,474 132,105 2,171 — 
Total Acquisitions$191,013 $173,350 $17,663 $12,639 $168,974 $2,995 $6,405 

(1)Payoff at closing of note receivable and accrued interest due from seller.
(2)Consists of TIF note acquired. Refer to Note 2 for further discussion.
Schedule of Dispositions The following tables detail the dispositions for the nine months ended had September 30, 2021 and 2020.
Nine Months Ended September 30, 2021
(in thousands)
DispositionsDate
Disposed		Sale PriceBook Value and Sales CostGain/(Loss)
Multifamily
76 homes - Crystal Bay-Rochester, MN
May 25, 2021$13,650 $10,255 $3,395 
40 homes - French Creek-Rochester, MN
May 25, 20216,700 4,474 2,226 
182 homes - Heritage Manor-Rochester, MN
May 25, 202114,125 4,892 9,233 
140 homes - Olympik Village-Rochester, MN
May 25, 202110,725 6,529 4,196 
151 homes-Winchester/Village Green-Rochester, MN
May 25, 202114,800 7,010 7,790 
Total Dispositions$60,000 $33,160 $26,840 
Nine Months Ended September 30, 2020
(in thousands)
DispositionsDate
Disposed		Sale PriceBook Value and Sales CostGain/(Loss)
Multifamily
268 homes - Forest Park - Grand Forks, ND
August 18, 2020$19,625 $6,884 $12,741 
90 homes - Landmark - Grand Forks, ND
August 18, 20203,725 1,348 2,377 
164 homes - Southwind - Grand Forks, ND
August 18, 202010,850 4,573 6,277 
168 homes - Valley Park - Grand Forks, ND
August 18, 20208,300 4,059 4,241 
$42,500 $16,864 $25,636 
Other
Dakota WestAugust 7, 2020$500 $474 $26 
Unimproved Land
Rapid City Land - Rapid City, SDJune 29, 2020$1,300 $1,490 $(190)
Total Dispositions$44,300 $18,828 $25,472