Centerspace enters Fort Collins MSA with $94.5M acquisition; exits Minot with $82.5M sale

CENTERSPACE

Acquired Lake Vista Apartment Homes (303 units, Loveland, CO) for $94.5M; assumed $52.7M debt at 3.45% interest-only through June 2024.
Sold four apartment communities and commercial space in Minot, ND for $82.5M, exiting that market entirely.
Proceeds funded the Lake Vista acquisition and general corporate purposes; CEO cites portfolio quality and balance sheet strength.
Fort Collins MSA is new for Centerspace, extending its Mountain West platform with healthcare, tech, and education employers.

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