Le Lézard
Classified in: Business
Subject: RLE

CENTERSPACE ANNOUNCES SALE OF NINE COMMUNITIES IN MINNESOTA AND NEBRASKA


MINNEAPOLIS, March 16, 2023 /PRNewswire/ -- Centerspace announced the sale of nine communities located in Minnesota and Nebraska for an aggregate sales price of $144.3 million. The sale included four communities in the St. Cloud market comprising 692 homes, two communities in the Omaha-Lincoln market comprising 498 homes, and three communities in the Minneapolis-St. Paul market comprising 377 homes.

Proceeds from the sale will be used to pay down outstanding debt, thus reducing leverage and increasing the weighted average maturity of the Company's debt obligations. 

CBRE served as the broker for all Minnesota communities while MMG Real Estate Advisors brokered the communities in Nebraska.

"This is another step in our strategy to boost the quality of our homes, earnings power of the company, and flexibility of our balance sheet," said Mark Decker, Centerspace President and CEO. "The continued demand for affordable housing options in our markets made this an attractive time to sell these communities and improve our Company."

About Centerspace
Centerspace is an owner and operator of apartment communities committed to providing great homes by focusing on integrity and serving others. Founded in 1970, the company currently owns 75 apartment communities consisting of 13,498 homes located in Colorado, Minnesota, Montana, Nebraska, North Dakota, and South Dakota. Centerspace was named a Top Workplace for 2022 by the Minneapolis Star Tribune. For more information, please visit www.centerspacehomes.com.

Contact Information
Joe McComish, Investor Relations
Phone: (701) 837-7104
E-mail: [email protected]

(PRNewsfoto/Centerspace)

SOURCE Centerspace


These press releases may also interest you

at 03:00
With applications surging at an average growth rate of 14.3% between 2013 and 2023, Antigua & Barbuda's Citizenship by Investment program (CIP) is slated to see a significant increase in application numbers in 2024, as per reports released by experts...

at 01:40
Madison Pacific Properties Inc. (the Company), reports the voting results of the Annual General Meeting of its shareholders held February 22, 2024 in Vancouver, British Columbia. The following six nominees were re-elected as directors of the Company...

at 00:00
Pomerantz LLP announces that a class action lawsuit has been filed against Innodata Inc. ("Innodata" or the "Company") . Such investors are advised to contact Danielle Peyton at [email protected] or 646-581-9980, (or 888.4-POMLAW), toll-free, Ext....

23 fév 2024
CLAIMSFILER, a FREE shareholder information service, reminds investors that they have until April 9, 2024 to file lead plaintiff applications in a securities class action lawsuit against Xponential Fitness, Inc. , if they purchased the Company's...

23 fév 2024
TSX VENTURE COMPANIES BULLETIN V2024-0588 CRITERIUM ENERGY LTD.  ("CEQ")BULLETIN TYPE: Resume TradingBULLETIN DATE: February 23, 2024TSX Venture Tier 2 Company Further to the Exchange bulletin dated February 22, 2024, effective at the open on...

23 fév 2024
In a recent statement featured in Above the Law, Gaston Kroub emphasized, "Without reservation that LITFINCON has earned its spot on the litigation finance calendar as a conference best not missed." LITFINCON III is returning to the Post Oak Hotel in...



News published on and distributed by: