Centerspace Agrees to Acquire Multifamily Portfolio in Minnesota for $323.8M

MINNEAPOLIS AND ST. CLOUD, MINN. — Centerspace (NYSE: CSR) has agreed to acquire a portfolio of 17 apartment communities in Minnesota for $323.8 million. The portfolio is comprised of 14 properties in Minneapolis and three assets in St. Cloud for a total of 2,696 units. Centerspace intends to refinance a portion of the properties as well as invest $40 million into repositioning the communities over the next 24 to 36 months. The transaction is expected to close in the third quarter. KMS Management Inc. was the seller. Upon closing of the transaction, Centerspace will increase its footprint to 4,901 units in Minneapolis and 1,524 units in St. Cloud.

Content Partners
‣ Arbor Realty Trust
‣ Bohler
‣ Lee & Associates
‣ Lument
‣ NAI Global
‣ Northmarq
‣ Pavlov Media
‣ Walker & Dunlop

Subscribe to the newsletter

Webinars on Demand

Read the Digital Editions

Northeast Multifamily & Affordable Housing Business

Midwest Multifamily & Affordable Housing Business

Western Multifamily & Affordable Housing Business

Texas Multifamily & Affordable Housing Business

Southeast Multifamily & Affordable Housing Business

Heartland Real Estate Business

Northeast Real Estate Business

Southeast Real Estate Business

Texas Real Estate Business

Western Real Estate Business

Shopping Center Business

California Centers

Student Housing Business

Seniors Housing Business

Featured Properties