ACQUISITIONS AND DISPOSITIONS

PROPERTY ACQUISITIONS

We added no new real estate property to our portfolio through property acquisitions during the three months ended July 31, 2018, compared to $61.5 million in the three months ended July 31, 2017. Our acquisitions during the three months ended July 31, 2017 are detailed below.

Three Months Ended July 31, 2017



	Date Acquired	(in thousands)
		Total Acquisition Cost		Investment Allocation
Acquisitions		Total Acquisition Cost		Land		Building		Intangible Assets
Multifamily
191 unit - Oxbo - St. Paul, MN⁽¹⁾	May 26, 2017	$	61,500	$	5,809	$	54,910	$	781

Total Property Acquisitions		$	61,500	$	5,809	$	54,910	$	781


(1)	Property includes 11,477 square feet of retail space.

PROPERTY DISPOSITIONS

During the three months ended July 31, 2018, we sold three apartment communities, two commercial properties, and two parcels of land for a total sale price of $49.1 million. During the three months ended July 31, 2017, we sold one commercial property for a total sale price of $3.4 million. The following table details our dispositions for the three months ended July 31, 2018 and 2017:

Three Months Ended July 31, 2018



		(in thousands)
Dispositions	Date Disposed	Sales Price		Book Value and Sale Cost		Gain/(Loss)
Multifamily
44 unit - Dakota Commons - Williston, ND	July 26, 2018	$	4,420	$	3,878	$	542
145 unit - Williston Garden - Williston, ND⁽¹⁾	July 26, 2018	12,310		11,313		997
288 unit - Renaissance Heights - Williston, ND⁽²⁾	July 26, 2018	24,770		17,856		6,914
		41,500		33,047		8,453

Other
7,849 sq ft Minot Southgate Retail - Minot, ND	July 12, 2018	$	1,925	$	2,056	$	(131	)
9,052 sq ft Fresenius - Duluth, MN	July 27, 2018	1,900		1,078		$	822
		3,825		3,134		691

Unimproved Land
Grand Forks - Grand Forks, ND	July 16, 2018	$	3,000	$	2,986	$	14
Renaissance Heights - Williston, ND⁽³⁾	July 26, 2018	750		684		66
		3,750		3,670		80

Total Property Dispositions		$	49,075	$	39,851	$	9,224


(1)	This apartment community was owned by a joint venture entity in which we had an interest of approximately 74.11%. The joint venture is consolidated in our financial statements.


(2)	This apartment community was owned by a joint venture entity in which we had an interest of approximately 87.14%. The joint venture is consolidated in our financial statements.


(3)	This parcel of land was owned by a joint venture entity in which we had an interest of approximately 70.00%. The joint venture is consolidated in our financial statements.

Three Months Ended July 31, 2017



		(in thousands)
Dispositions	Date Disposed	Sale Price		Book Value and Sale Cost		Gain/(Loss)
Other
4,998 sq ft Minot Southgate Wells Fargo Bank - Minot, ND	May 15, 2017	$	3,440	$	3,332	$	108

Total Property Dispositions		$	3,440	$	3,332	$	108