Mergers & Acquisitions ·
Centerspace completed the Bismarck Transaction, finalizing a portfolio optimization plan involving the sale of 14…
CSRCenterspace
Centerspace completed the Bismarck Transaction, finalizing a portfolio optimization plan involving the sale of 14 multifamily apartment communities and a note receivable across Colorado, Minnesota, South Dakota, and North Dakota. The aggregate gross proceeds from these dispositions totaled approximately $318.8 million. The company intends to use net proceeds to reduce outstanding indebtedness, including repaying borrowings under its line of credit, and may issue a special distribution of between $50.0 million and $60.0 million to shareholders. Centerspace operates in the real estate investment trust industry, specifically focusing on multifamily apartment communities.