CenterSpace Sells Communities in St. Cloud for $124M

By Philip Seaworth • Wednesday, September 24 06:01 • Permanent Link

CenterSpace (NYSE: CSR) has recently completed the sale of five communities in the St. Cloud, MN market for a total of $124.0 million. This transaction involved 832 homes and marks the company's exit from the St. Cloud market. The planned disposition of seven communities in Minneapolis remains on track with an expected closing in Q4 2025.

The proceeds from these sales are part of a larger portfolio repositioning that the company outlined in June 2025. The funds generated will be used to decrease leverage and for general corporate purposes.

Anne Olson, the CEO of CenterSpace, noted that the recent acquisitions in Salt Lake City and Fort Collins, combined with this transaction activity, improve the quality and diversification of the company's communities.

CenterSpace currently owns 68 apartment communities consisting of 12,941 homes located in Colorado, Minnesota, Montana, Nebraska, North Dakota, South Dakota, and Utah. The company was recognized as a top workplace for the sixth consecutive year in 2025 by the Minneapolis Star Tribune.

The company's management and board are considering various options for capital allocation, including investments to improve portfolio quality and growth, accelerated deleveraging, value-add investments within the current portfolio, share buybacks, and dividends to investors.

CBRE acted as the broker for the St. Cloud portfolio sale.

This move aligns with CenterSpace's goal to create value for its shareholders and to improve the recognition of its value in the market. Today the company's shares have moved 0.55% to a price of $58.80. For the full picture, make sure to review CENTERSPACE's 8-K report.

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