ACQUISITIONS AND DISPOSITIONS (Tables)

3 Months Ended

Mar. 31, 2022

Business Combination and Asset Acquisition [Abstract]

Schedule of Acquisitions

The acquisitions during the three months ended March 31, 2022 and 2021 are detailed below.

Three Months Ended March 31, 2022

	Date Acquired	(in thousands)
		Total Acquisition Cost		Form of Consideration						Investment Allocation
Acquisitions				Cash		Units(1)		Other(2)		Land		Building		Intangible Assets		Other(3)
191 homes - Martin Blu - Minneapolis, MN	January 4, 2022	$	49,825	$	3,031	$	18,885	$	27,909	$	3,547	$	45,212	$	1,813	$	(747)
31 homes - Zest - Minneapolis, MN	January 4, 2022	9,066		1,290		1,748		6,028		941		7,853		335		(63)
45 homes - Elements - Minneapolis, MN	January 4, 2022	11,364		1,429		2,249		7,686		936		10,261		574		(407)
130 homes - Noko Apartments - Minneapolis, MN	January 26, 2022	46,619		3,343		—		43,276		1,915		42,754		1,950		—
Total Acquisitions		$	116,874	$	9,093	$	22,882	$	84,899	$	7,339	$	106,080	$	4,672	$	(1,217)

(1)Fair value of operating partnership units issued on acquisition.

(2)Assumption of seller's debt upon closing for Martin Blu, Zest, and Elements. Mezzanine and construction loans, financed by Centerspace, exchanged as partial consideration for the acquisition of Noko Apartments.

(3)Debt discount on assumed mortgage.

Three Months Ended March 31, 2021

	Date Acquired	(in thousands)
		Total Acquisition Cost		Form of Consideration		Investment Allocation
Acquisitions				Cash		Land		Building		Intangible Assets
256 homes - Union Pointe - Longmont, CO	January 6, 2021	$	76,900	$	76,900	$	5,727	$	69,966	$	1,207