EQUITY AND MEZZANINE EQUITY (Tables)

12 Months Ended

Dec. 31, 2023

Equity [Abstract]

Schedule of Conversions of Stock

Centerspace redeemed Units in exchange for common shares in connection with Unitholders exercising their exchange rights during the years ended December 31, 2023 and 2022 as detailed in the table below.

	(in thousands)
	Number of	Total Book
	Units	Value
Year ended December 31, 2023	109	$	(1,910)
Year ended December 31, 2022	24	$	(1,353)

Pursuant to the exercise of exchange rights, the Company redeemed Units for cash during the years ended December 31, 2023 and 2022 as detailed in the table below.

	(in thousands, except per Unit data)
	Number of	Aggregate		Average Price
	Units Redeemed	Cost		Per Unit
Year ended December 31, 2023	2	$	130	$	54.05
Year ended December 31, 2022	46	$	4,141	$	90.18

The Company redeemed Series E preferred units in exchange for common shares in connection with Series E unitholders exercising their exchange rights during the years ended December 31, 2023 and 2022 as detailed below.

	(in thousands)
	Number of Series E	Number of	Total
	Preferred Units Redeemed	Common Shares Issued	Value
Year ended December 31, 2023	26	31	$	1,390
Year ended December 31, 2022	56	67	$	3,667

The Company redeemed Series E preferred units in exchange for cash in connection with Series E unitholders exercising their exchange rights during the year ended December 31, 2023 as detailed below.

	(in thousands)
	Number of Series E	Aggregate		Average Price
	Preferred Units Redeemed	Cost		Per Series E Unit (1)
Year ended December 31, 2023	7	$	447	$	52.45

(1)Average price per Series E unit factoring in conversion rate of 1.2048 Units for each Series E preferred unit

Schedule of Sale of Common Shares

The table below provides details on the sale of common shares under the 2021 ATM Program during the years ended December 31, 2023 and 2022.

	(in thousands, except per share amounts)
	Number of Common Shares	Total Consideration(1)		Average Price Per Share(1)
Year ended December 31, 2023	—	$	—	$	—
Year ended December 31, 2022	321	$	31,732	$	98.89

(1)Total consideration is net of $338,000 in commissions for the year ended December 31, 2022.

Schedule of Repurchase Agreements

The table below provides details on the shares repurchased during the

years ended December 31, 2023 and 2022. As of December 31, 2023, the Company had $9.4 million remaining authorized for purchase under this program.

	(in thousands, except per share amounts)
	Number of Common Shares	Aggregate Cost(1)		Average Price Per Share(1)
Year ended December 31, 2023	216	$	11,539	$	53.44
Year ended December 31, 2022	432	$	29,059	$	67.23

(1)Amount includes commissions.