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ACQUISITIONS AND DISPOSITIONS (Tables)
 6 Months Ended
Jun. 30, 2020
Business Combinations [Abstract]  
Schedule of Acquisitions Our acquisitions during the six months ended June 30, 2020 and 2019 are detailed below.
Six Months Ended June 30, 2020
 
Date
Acquired
 
(in thousands)
 
 
Total
Acquisition
Cost

 
Form of Consideration
 
Investment Allocation
Acquisitions
 
 
Cash

 
Other(1)

 
Land

 
Building

 
Intangible
Assets

 
Other(2)

182 homes - Ironwood Apartments - New Hope, MN
March 5, 2020
 
$
46,263

 
$
28,600

 
$
17,663

 
$
2,165

 
$
36,869

 
$
824

 
$
6,405

 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Total Acquisitions
 
 
$
46,263

 
$
28,600

 
$
17,663

 
$
2,165

 
$
36,869

 
$
824

 
$
6,405

(1)
Payoff of note receivable and accrued interest by seller at closing.
(2)
Consists of TIF note acquired. Refer to Note 2 for further discussion.


Six Months Ended June 30, 2019
 
Date
Acquired
 
(in thousands)
 
 
Total
Acquisition
Cost

 
Form of Consideration
 
Investment Allocation
Acquisitions
 
 
Cash

 
Units(1)

 
Land

 
Building

 
Intangible
Assets

Multifamily
 
 
 
 
 
 
 
 
 
 
 
 
 
272 homes - SouthFork Townhomes - Lakeville, MN
February 26, 2019
 
$
44,000

 
$
27,440

 
$
16,560

 
$
3,502

 
$
39,950

 
$
548

 
 
 
 
 
 
 
 
 
 
 
 
 
 
Other
 
 
 
 
 
 
 
 
 
 
 
 
 
Minot 3100 10th St SW - Minot, ND(2)
May 23, 2019
 
$
2,112

 
$
2,112

 
—

 
$
246

 
$
1,866

 
—

 
 
 
 
 
 
 
 
 
 
 
 
 
 
Total Acquisitions
 
 
$
46,112

 
$
29,552

 
$
16,560

 
$
3,748

 
$
41,816

 
$
548

(1)
Value of Series D preferred units at the acquisition date.
Schedule of Dispositions The following tables detail our dispositions for the six months ended June 30, 2020 and 2019.
Six Months Ended June 30, 2020
 
 
 
(in thousands)
Dispositions
Date
Disposed
 
Sale Price

 
Book Value and Sales Cost

 
Gain/(Loss)

Unimproved Land
 
 
 
 
 
 
 
Rapid City Land - Rapid City, SD
June 29, 2020
 
$
1,300

 
$
1,490

 
$
(190
)
 
 
 
 
 
 
 
 
Total Dispositions
 
 
$
1,300

 
$
1,490

 
$
(190
)
Six Months Ended June 30, 2019
 
 
 
(in thousands)
Dispositions
Date
Disposed
 
Sale Price

 
Book Value
and Sale Cost

 
Gain/(Loss)

Other
 
 
 
 
 
 
 
Minot 1400 31st Ave SW - Minot, ND
May 23, 2019
 
$
6,530

 
$
6,048

 
$
482

 
 
 
 
 
 
 
 
Unimproved Land
 
 
 
 
 
 
 
Creekside Crossing - Bismarck, ND
March 1, 2019
 
$
3,049

 
$
3,205

 
$
(156
)
Minot 1525 24th Ave SW - Minot, ND
April 3, 2019
 
725

 
593

 
132

 
 
 
$
3,774

 
$
3,798

 
$
(24
)
 
 
 
 
 
 
 
 
Total Dispositions
 
 
$
10,304

 
$
9,846

 
$
458