CENTERSPACE: directors' dealings · United States · SEC (Form 4)

About CENTERSPACE

Centerspace (NYSE: CSR) is a US multifamily real estate investment trust focused on owning, operating, acquiring, and managing apartment communities. For French-speaking investors, the key point is that this is a NYSE-listed residential REIT in the United States, designed to generate recurring rental income and long-term asset value rather than to sell a branded consumer product. The company’s corporate headquarters is in Minot, North Dakota, with a significant operating presence in Minneapolis, Minnesota. Its origins date back to 1970, which gives it a long operating history in the American rental-housing market. ([sec.gov](https://www.sec.gov/Archives/edgar/data/798359/000079835925000033/a2024annualreport-forwebsi.pdf?utm_source=openai)) Centerspace’s core business is apartment ownership and operations. As of year-end 2024, the company reported 71 apartment communities and 13,012 homes across Colorado, Minnesota, Montana, Nebraska, North Dakota, and South Dakota. That footprint reflects a deliberate concentration in Midwestern and Mountain West markets, rather than a broad national platform. Recent investor materials also show that management has been actively reshaping the portfolio through acquisitions and dispositions in 2025, underscoring a capital-recycling strategy aimed at improving portfolio quality, scale, and geographic mix. ([sec.gov](https://www.sec.gov/Archives/edgar/data/798359/000079835925000012/centerspace12312024ex991.htm?utm_source=openai)) From a competitive standpoint, Centerspace positions itself in markets where rental housing demand is supported by household formation and affordability dynamics, while supply can be more disciplined than in coastal gateway cities. The company highlighted meaningful exposure to Minneapolis and Denver, and its recent transactions point to an effort to diversify away from narrower legacy concentrations and toward a more balanced multifamily portfolio. In practical terms, its competitive edge depends on operating execution, occupancy management, rent growth, and selective capital allocation. ([sec.gov](https://www.sec.gov/Archives/edgar/data/798359/000079835925000118/centerspaceinvestordeckn.htm?utm_source=openai)) Its “products” are residential rental homes and the services attached to apartment ownership: leasing, resident management, maintenance, property operations, and asset repositioning. As with most apartment REITs, results are driven by occupancy, rental-rate growth, same-store performance, and disciplined acquisitions/dispositions rather than by product innovation. ([sec.gov](https://www.sec.gov/Archives/edgar/data/798359/000079835925000012/centerspace12312024ex991.htm?utm_source=openai)) Recent highlights include the company’s February 2026 full-year 2025 results release, where Centerspace reported annual operating performance and announced a quarterly distribution of $0.77 per share/unit payable in April 2026. In 2025, it also completed notable portfolio moves, including an acquisition in Salt Lake City and the disposition of five communities in St. Louis, which management described as improving portfolio quality and diversification. Overall, the recent news flow suggests a REIT that is actively managing its asset base while preserving balance-sheet and dividend discipline. ([sec.gov](https://www.sec.gov/Archives/edgar/data/798359/000079835926000015/centerspace123125exhibit991.htm?utm_source=openai))