secwatch.observer — SEC 8-K summary
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Issuer:     CENTERSPACE (CSR)
CIK:        0000798359
Form:       8-K
Filed at:   2023-10-11T23:59:59+00:00
Accession:  0000798359-23-000102
Event type: m_and_a
Sentiment:  positive
Materiality: 0.75
Item codes: 7.01, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

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

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/798359/000079835923000102/0000798359-23-000102-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/798359/000079835923000102/csr-20231011.htm
  HTML page:      https://secwatch.observer/filing/0000798359-23-000102

License: Source filings: public domain (SEC EDGAR). Summaries (headline + bullets): CC-BY-4.0; attribute https://secwatch.observer