Centerspace Announces Financial and Operating Results for the Year Ended December 31, 2020 and Provides 2021 Financial Outlook
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MINNEAPOLIS, Feb. 22, 2021 /PRNewswire/ Centerspace (NYSE: CSR) announced today its financial and operating results for the year ended December 31, 2020. The tables below show Net Income (Loss), Funds from Operations ( FFO )
1, and Core FFO
1, all on a per share basis, for the year ended December 31, 2020; Same-Store Revenues, Expenses, and Net Operating Income ( NOI )
1 over comparable periods; and Same-Store Weighted Average Occupancy for the three months ended December 31, 2020, September 30, 2020, and December 31, 2019 and the twelve months ended December 31, 2020 and 2019.
Centerspace Continues Growth In Denver Market And Prices Unsecured Notes
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MINNEAPOLIS, Jan. 6, 2021 /PRNewswire/ Centerspace (NYSE: CSR) announced today that it has acquired Union Pointe Apartment Homes in Longmont, Colorado, for an aggregate purchase price of $76.9 million. Constructed in 2019, Union Pointe consists of 256 homes on 13 acres in the rapidly growing city of Longmont with convenient access to Boulder and Denver. As of January 5, 2021, Union Pointe was 94% occupied with average rents of $1,582 per month.
Centerspace also issued $50 million of 2.7% unsecured Series C Notes due June 6, 2030, with Prudential Private Capital. In concert with the issuance, Centerspace amended and expanded its Note Purchase Private Shelf Agreement (the Agreement ) with Prudential to increase the aggregate amount available under the Agreement from $150 million to $225 million. Proceeds from the Series C Notes were used to fund the