Centerspace is a real estate investment trust (REIT) that owns and operates apartment communities. The company's portfolio is primarily located in the Midwest and Mountain West regions of the United States, with assets in states such as Colorado, Minnesota, Montana, Nebraska, North Dakota, South Dakota, and Utah. Key markets include Denver, Minneapolis, Boulder/Fort Collins, Omaha, and Salt Lake City. The company's strategy involves growth through the acquisition of new properties and enhancing existing assets through a value-add program that focuses on renovating units and common areas.
Centerspace has been actively repositioning its portfolio to grow its presence in target Mountain West markets while exiting non-core Midwest locations. High-level strategic initiatives include recycling capital out of older assets into new acquisitions and buying back stock. On November 11, 2025, the company confirmed that its Board of Trustees had initiated a review of strategic alternatives earlier in the fall, which includes evaluating a potential sale of the business. Additionally, Centerspace is still digesting the ongoing unit turns and property repositionings from its major KMS portfolio acquisition. Completed in 2021, the KMS transaction consisted of 17 communities with 2,696 homes purchased for $323.8 million, with an additional $40.0 million allocated for capital improvements over a multi-year period.
On February 18, 2025, Centerspace changed its quarterly dividend, raising the payout from $0.75 to $0.77 per share, representing a 2.6% increase.
**Acquisitions**
**Dispositions**
**Refinancings, new loans & other capital markets**
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