# EDGAR Filing Document

**Accession Number:** 0000798359
**File Stem:** 0000798359-23-000023
**Filing Date:** 2023-3
**Character Count:** 7073
**Document Hash:** 1719dc4471564b4cccbbf54bbeb41fa5
**Contains OCR:** False
**Source Format:** 

## Filing Content

## Filing Summary
**0000798359-23-000023.hdr.sgml**: 20230316

**ACCESSION NUMBER**: 0000798359-23-000023

**CONFORMED SUBMISSION TYPE**: 8-K

**PUBLIC DOCUMENT COUNT**: 15

**CONFORMED PERIOD OF REPORT**: 20230316

**ITEM INFORMATION**: Regulation FD Disclosure

**ITEM INFORMATION**: Financial Statements and Exhibits

**FILED AS OF DATE**: 20230316

**DATE AS OF CHANGE**: 20230316

**FILER**: 

**COMPANY DATA:**
- **COMPANY CONFORMED NAME:** CENTERSPACE
- **CENTRAL INDEX KEY:** 0000798359
- **STANDARD INDUSTRIAL CLASSIFICATION:** REAL ESTATE INVESTMENT TRUSTS [6798]
- **IRS NUMBER:** 450311232
- **STATE OF INCORPORATION:** ND
- **FISCAL YEAR END:** 1231

**FILING VALUES:**
- **FORM TYPE:** 8-K
- **SEC ACT:** 1934 Act
- **SEC FILE NUMBER:** 001-35624
- **FILM NUMBER:** 23737285

**BUSINESS ADDRESS:**
- **STREET 1:** 3100 10TH ST SW
- **STREET 2:** PO BOX 1988
- **CITY:** MINOT
- **STATE:** ND
- **ZIP:** 58702-1988
- **BUSINESS PHONE:** 701-837-4738

**MAIL ADDRESS:**
- **STREET 1:** 3100 10TH ST SW
- **STREET 2:** PO BOX 1988
- **CITY:** MINOT
- **STATE:** ND
- **ZIP:** 58702-1988

**FORMER COMPANY:**
- **FORMER CONFORMED NAME:** INVESTORS REAL ESTATE TRUST
- **DATE OF NAME CHANGE:** 19920703

?xml version="1.0" ? iret-20230316

**UNITED STATES**

**SECURITIES AND EXCHANGE COMMISSION**

**Washington, D.C. 20549**

**FORM 8-K** 

**CURRENT REPORT**

**Pursuant to Section 13 or 15(d) of the Securities Exchange Act of 1934** 

Date of Report (Date of earliest event reported): March 16, 2023

**CENTERSPACE** 

(Exact name of Registrant as specified in its charter)

---

| | | |
|:---|:---|:---|
| **North Dakota** | **001-35624** | **45-0311232** |
| (State or Other Jurisdiction<br>of Incorporation or Organization) | (Commission File Number) | (I.R.S. Employer Identification No.) |

---

**3100 10th Street SW, Post Office Box 1988, Minot, ND 58702-1988**

(Address of principal executive offices) (Zip code)

**(701) 837-4738** 

(Registrant's telephone number, including area code)

**Not Applicable**

(Former name or former address, if changed from last report)

Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions:

☐&nbsp;&nbsp;&nbsp;&nbsp;Written communications pursuant to Rule 425 under the Securities Act

☐&nbsp;&nbsp;&nbsp;&nbsp;Soliciting material pursuant to Rule 14a-12 under the Exchange Act

☐&nbsp;&nbsp;&nbsp;&nbsp;Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act

☐&nbsp;&nbsp;&nbsp;&nbsp;Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act

Securities registered pursuant to Section 12(b) of the Securities Exchange Act of 1934:

---

| | | |
|:---|:---|:---|
| Title of each class | Trading Symbol(s) | Name of each exchange on which registered |
| Common Shares of Beneficial Interest, no par value | CSR | New York Stock Exchange |
| Series C Cumulative Redeemable Preferred Shares | CSR - PRC | New York Stock Exchange |

---

Indicate by check mark whether the registrant is an emerging growth company as defined in Rule 405 of the Securities Act of 1933 or Rule 12b-2 of the Securities Exchange Act of 1934.

Emerging growth company ☐

If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act. ☐

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**Item 7.01. Regulation FD Disclosure** 

On March 16, 2023, Centerspace (the "Company") issued a press release relating to certain community dispositions. A copy of the press release is filed as Exhibit 99.1 to this Current Report on Form 8-K and incorporated herein by reference. The press release will also appear on the Company's website.

The information set forth in this Item 7.01, including Exhibit 99.1, is being furnished pursuant to Item 7.01 and shall not be deemed "filed" for purposes of Section 18 of the Securities Exchange Act of 1934, as amended (the "Exchange Act"), or otherwise subject to the liabilities of that Section, and it shall not be deemed incorporated by reference in any filing under the Securities Act of 1933, as amended, or under the Exchange Act, except as expressly provided by specific reference in such a filing.

**ITEM 9.01&nbsp;&nbsp;&nbsp;&nbsp;Financial Statements and Exhibits**

(d)Exhibits

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| | |
|:---|:---|
| Exhibit | |
| Number | Description |
| <u>[99.1](a3162023pressrelease.htm)</u> | <u>[Press Release dated March 16, 2023](a3162023pressrelease.htm)</u> |
| 104 | Cover Page Interactive Data File - the cover page XBRL tags are embedded within the Inline XBRL Document. |

---

&nbsp;&nbsp;&nbsp;&nbsp;

------

**SIGNATURE**

Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.

---

| | | |
|:---|:---|:---|
| | **Centerspace** | **Centerspace** |
| | By | <u>/s/ Mark O. Decker, Jr.</u> |
| | | Mark O. Decker, Jr. |
| Date: March 16, 2023 | | President and Chief Executive Officer |

---

## Exhibit 99.1

![cs-centered_blue.jpg](cs-centered_blue.jpg)

**FOR IMMEDIATE RELEASE** 

**<u>Contact Information</u>**

Joe McComish, Investor Relations

Phone: (701) 837-7104

E-mail: IR@centerspacehomes.com

**CENTERSPACE ANNOUNCES SALE OF NINE** 

**COMMUNITIES IN MINNESOTA AND NEBRASKA**

MINNEAPOLIS, MN, March 16, 2023 – 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."

<u>About Centerspace</u> 

*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.*

<br>