secwatch.observer — SEC 8-K summary
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Issuer:     CENTERSPACE (CSR)
CIK:        0000798359
Form:       8-K
Filed at:   2024-10-02T23:59:59+00:00
Accession:  0000798359-24-000115
Event type: m_and_a
Sentiment:  positive
Materiality: 0.70
Item codes: 7.01, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

Centerspace expands Denver presence with $54M acquisition of The Lydian; redeems Series C preferred
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- Acquired 129-home community The Lydian in Denver for $54M; includes 23K sq ft retail space.
- Assumed $35M mortgage at 3.72%, interest-only through Jan 2032, maturing Feb 2037.
- Issued $14.5M in common OP units at $76.42/unit as part of consideration.
- Redeemed all outstanding 6.625% Series C Cumulative Redeemable Preferred Shares on Sept 30, 2024.
- Sold ~1.59M shares via ATM YTD 2024 for gross proceeds ~$113.7M; proceeds used for preferred redemption and debt paydown.

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/798359/000079835924000115/0000798359-24-000115-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/798359/000079835924000115/csr-20241002.htm
  HTML page:      https://secwatch.observer/filing/0000798359-24-000115

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