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ACQUISITIONS AND DISPOSITIONS (Tables)
 6 Months Ended
Jun. 30, 2023
Business Combination and Asset Acquisition [Abstract]  
Schedule of Acquisitions The acquisitions during the six months ended June 30, 2022 are detailed below.
Six Months Ended June 30, 2022
Date
Acquired		(in thousands)
Total
Acquisition
Cost(1)
Form of ConsiderationInvestment Allocation
AcquisitionsCash
Units(2)
Other(3)
LandBuilding
Intangible
Assets(4)
Other(5)
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)Excludes transaction costs.
(2)Fair value of operating partnership units issued on acquisition.
(3)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.
(4)Intangible assets consist of in-place leases valued at the time of acquisition. During the six months ended June 30, 2023 and 2022, Centerspace recognized $893,000 and $10.6 million, respectively, of amortization expense related to intangibles, included within depreciation and amortization in the Condensed Consolidated Statement of Operations.
(5)Debt discount on assumed mortgage.
Schedule of Dispositions The dispositions for the six months ended June 30, 2023 are detailed below. Six Months Ended June 30, 2023
(in thousands)
DispositionsDate
Disposed		Sale PriceBook Value and Sales CostGain/(Loss)
115 homes - Boulder Court - Eagan, MN
March 8, 2023$14,605 $4,970 $9,635 
498 homes - 2 Nebraska apartment communities
March 14, 2023$48,500 $14,975 $33,525 
892 homes - 5 Minnesota apartment communities
March 15, 2023$74,500 $55,053 $19,447 
62 homes - Portage - Minneapolis, MN
March 15, 2023$6,650 $9,098 $(2,448)
Total Dispositions$144,255 $84,096 $60,159