ACQUISITIONS AND DISPOSITIONS

PROPERTY ACQUISITIONS

We added no new real estate to our portfolio through property acquisitions during the three and six months ended October 31, 2018, compared to $153.8 million in the six months ended October 31, 2017. Our acquisitions during the six months ended October 31, 2017 are detailed below.

Six Months Ended October 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
500 unit - Park Place - Plymouth, MN	September 13, 2017	92,250		10,609		80,711		930

Total Property Acquisitions		$	153,750	$	16,418	$	135,621	$	1,711


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

PROPERTY DISPOSITIONS

During the three months ended October 31, 2018, we sold one commercial property and one parcel of land for a total sale price of $3.1 million. During the three months ended October 31, 2017, we sold 13 apartment communities, three healthcare properties, one industrial property, and one parcel of unimproved land for a total sale price of $63.4 million. The following table details our dispositions for the six months ended October 31, 2018 and 2017:

Six Months Ended October 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
15,000 sq ft Minot 2505 16th St SW - Minot, ND	October 12, 2018	1,710		1,814		(104		)
		5,535		4,948		587

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
Badger Hills Unimproved - Rochester, MN	August 29, 2018	1,400		1,528		(128		)
		5,150		5,198		(48		)

Total Property Dispositions		$	52,185	$	43,193	$	8,992


(1)	This apartment community was owned by a joint venture entity in which we had an interest of approximately 74.11%. The joint venture was consolidated in our financial statements at October 31, 2018.


(2)	This apartment community was owned by a joint venture entity in which we had an interest of approximately 87.14%. The joint venture was consolidated in our financial statements at October 31, 2018.


(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 was consolidated in our financial statements at October 31, 2018.

Six Months Ended October 31, 2017



		(in thousands)
Dispositions	Date Disposed	Sale Price		Book Value and Sale Cost		Gain/(Loss)
Multifamily
327 unit - 13 Multifamily properties - Minot, ND⁽¹⁾	August 22, 2017	$	12,263	$	11,562	$	701

Other
4,998 sq ft Minot Southgate Wells Fargo Bank - Minot, ND	May 15, 2017	3,440		3,332		108
90,260 sq ft Lexington Commerce Center - Eagan, MN	August 22, 2017	9,000		3,963		5,037
17,640 sq ft 1440 Duckwood Medical - Eagan, MN	August 24, 2017	2,100		1,886		214
279,834 sq ft Edgewood Vista Hermantown I & II - Hermantown, MN	October 19, 2017	36,884		24,697		12,187
		51,424		33,878		17,546

Unimproved Land
Bismarck 4916 Unimproved Land - Bismarck, ND	August 8, 2017	3,175		3,188		(13		)

Total Property Dispositions		$	66,862	$	48,628	$	18,234


(1)	These properties include: 4th Street 4 Plex, 11th Street 3 Plex, Apartments on Main, Brooklyn Heights, Colton Heights, Fairmont, First Avenue (Apartments and Office), Pines, Southview, Summit Park, Temple (including 17 South Main Retail), Terrace Heights and Westridge.