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ACQUISITIONS AND DISPOSITIONS
 6 Months Ended
Jun. 30, 2022
Business Combination and Asset Acquisition [Abstract]  
ACQUISITIONS AND DISPOSITIONS ACQUISITIONS AND DISPOSITIONS
ACQUISITIONS
Centerspace had no acquisitions during the three months ended June 30, 2022 and 2021. The acquisitions during the six months ended June 30, 2022 and 2021 are detailed below.
Six Months Ended June 30, 2022
Date
Acquired		(in thousands)
Total
Acquisition
Cost		Form of ConsiderationInvestment Allocation
AcquisitionsCash
Units(1)
Other(2)
LandBuildingIntangible
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 - Elements - Minneapolis, MN
January 4, 20229,066 1,290 1,748 6,028 941 7,853 335 (63)
45 homes - Zest - Minneapolis, MN
January 4, 202211,364 1,429 2,249 7,686 936 10,261 574 (407)
130 homes - Noko Apartments - Minneapolis, MN
January 26, 202246,619 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.
Six Months Ended June 30, 2021
Date
Acquired		(in thousands)
Total
Acquisition
Cost		Form of ConsiderationInvestment Allocation
AcquisitionsCashLandBuildingIntangible
Assets
256 homes - Union Pointe - Longmont, CO
January 6, 2021$76,900 $76,900 $5,727 $69,966 $1,207 
DISPOSITIONS
During the three and six months ended June 30, 2022, Centerspace disposed of no real estate compared to $60.0 million in the three and six months ended June 30, 2021. The dispositions during the six months ended June 30, 2021 are detailed below.
Six Months Ended June 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