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CENTERSPACE COMPLETES SALE OF FIVE ST. CLOUD COMMUNITIES FOR $124.0 MILLION
CENTERSPACE COMPLETES SALE OF FIVE ST. CLOUD COMMUNITIES FOR $124.0 MILLION PR Newswire...
About this update from Copper Standard Resources Inc
[{"type":"text","content":"CENTERSPACE COMPLETES SALE OF FIVE ST. CLOUD COMMUNITIES FOR $124.0 MILLION\n\n\n\n CENTERSPACE COMPLETES SALE OF FIVE ST. CLOUD COMMUNITIES FOR $124.0 MILLION\n \n\n /* Style Definitions */\nspan.prnews_span\n{\nfont-size:8pt;\nfont-family:\"Arial\";\ncolor:black;\n}\na.prnews_a\n{\ncolor:blue;\n}\nli.prnews_li\n{\nfont-size:8pt;\nfont-family:\"Arial\";\ncolor:black;\n}\np.prnews_p\n{\nfont-size:0.62em;\nfont-family:\"Arial\";\ncolor:black;\nmargin:0in;\n}\n \n\n\n\n\n\n PR Newswire\n \n\n\n\n\n\n MINNEAPOLIS\n \n\n ,\n \n\n Sept. 23, 2025\n \n\n /PRNewswire/ -- Centerspace (NYSE: CSR) announced it has completed the disposition of five communities comprising 832 homes in the\n \n St. Cloud, MN\n \n , market for an aggregate sale price of\n \n $124.0 million\n \n . This transaction marks the Company's exit from the\n \n St. Cloud\n \n market, while the Company's planned disposition of seven communities in\n \n Minneapolis\n \n remains on track with an expected closing in Q4 2025.\n \n\n These sales are part of the larger portfolio repositioning that the Company outlined in\n \n June 2025\n \n . Proceeds will be used to decrease leverage and for general corporate purposes.\n \n\n \"Combined with our recent acquisitions in\n \n Salt Lake City\n \n and Fort Collins, this transaction activity improves the quality and diversification of our communities while demonstrating the compelling value our portfolio offers,\" said\n \n Anne Olson\n \n , Centerspace CEO.\n \n\n \"As we evaluate future disposition activity, management and our board will be prudently considering capital allocation in light of the current market and relative share price. Specifically, our options are not limited to investments that continue our trajectory of improved portfolio quality and growth but also may include accelerated deleveraging, value-add investments within our current portfolio, share buy backs, and dividends to investors, among other things,\" Ms. Olson continued. \"Our goal is to create value for our shareholders and to provide information and demonstrate action so that the value of Centerspace is better recognized.\"\n \n\n CBRE acted as broker for the\n \n St. Cloud\n \n portfolio sale.\n \n\n\n About Centerspace\n \n\n\n Centerspace is an owner and operator of apartment communities committed to providing great homes by focusing on integrity and ...