# CENTERSPACE (CSR) — strategic_review [announced]
Source: sec.gov · situation sit_7e45628d52c1eb907c98 · public 2724424458963672921 · retrieved 2026-08-19T11:37:59.146Z

## Overview
Centerspace is a real estate investment trust (REIT) that owns and operates multifamily apartment communities.

Centerspace completed the sale of 14 multifamily apartment communities and an associated note receivable across four separate transactions with three unaffiliated third-party purchasers. The Denver Transaction (one community) closed on June 29, 2026; the Minnesota Transaction (two communities with note receivable) and Rapid City Transaction (five communities) closed in July 2026; and the Bismarck Transaction (six communities) closed on August 11, 2026. The aggregate gross proceeds from all four transactions totaled approximately $318.8 million. The company intends to use net proceeds to reduce outstanding indebtedness, including repayment of borrowings under its line of credit, and to issue a potential special distribution of between approximately $50.0 million and $60.0 million.

## Terms
- Deal value: $318.8M

## Key dates
- Announced 2026-08-14

## Timeline
- 2026-08-14 · 8-K (0000798359-26-000084): 8-K - CENTERSPACE — *Centerspace is a real estate investment trust (REIT) that owns and operates multifamily apartment communities.* Centerspace completed the sale of 14 multifamily apartment communities and an associated note receivable across four separate transactions with three unaffiliated third-party purchasers. The Denver Transaction (one community) closed on June 29, 2026; the Minnesota Transaction (two communities with note receivable) and Rapid City Transaction (five communities) closed in July 2026; and the Bismarck Transaction (six communities) closed on August 11, 2026. The aggregate gross proceeds from all four transactions totaled approximately $318.8 million. The company intends to use net proceeds to reduce outstanding indebtedness, including repayment of borrowings under its line of credit, and to issue a potential special distribution of between approximately $50.0 million and $60.0 million.
  https://www.sec.gov/Archives/edgar/data/798359/0000798359-26-000084.txt

## Citations
- 0000798359-26-000084 — https://www.sec.gov/cgi-bin/browse-edgar?action=getcompany&type=&dateb=&owner=include&count=40&search_text=000079835926000084