CENTERSPACE CONFIRMS THAT BOARD OF TRUSTEES IS REVIEWING STRATEGIC ALTERNATIVES

Rhea-AI Summary

Centerspace (NYSE: CSR) confirmed on November 11, 2025 that its Board of Trustees began a review of strategic alternatives earlier this fall.

With independent financial and legal advisors, the Board is considering options including a sale, merger, other business combinations, or continuing its independent strategy. No timetable or decisions have been set and there is no assurance the review will result in a transaction. BMO Capital Markets is serving as financial advisor and Wachtell, Lipton, Rosen & Katz is serving as legal counsel.

Company facts: Centerspace owns 68 apartment communities (12,941 homes) across seven states.

Positive

• Board initiated review of strategic alternatives (Nov 11, 2025)
• Engaged BMO Capital Markets as financial advisor
• Engaged Wachtell, Lipton, Rosen & Katz as legal counsel
• Owns 68 apartment communities totaling 12,941 homes

Negative

• No timetable set for the review process
• Company states no assurance the review will result in a transaction
• Company does not intend to comment on developments unless required by law

MINNEAPOLIS, Nov. 11, 2025 /PRNewswire/ -- Centerspace (NYSE: CSR) today confirmed that earlier this fall its Board of Trustees initiated a review of the Company's strategic alternatives. With the support of its independent financial and legal advisors, the Board will consider a wide range of options including, among other things, a sale, merger and other business combinations, as well as continuing to execute on its independent business strategy.

Centerspace has not set a timetable for the review process, nor has it made any decisions related to any potential strategic alternatives at this time. There can be no assurance that the review process will result in a transaction or other strategic change or outcome. Centerspace does not intend to disclose or comment on developments related to this review unless or until it determines that further disclosure is appropriate or required by law.

BMO Capital Markets Corp. is acting as Centerspace's financial advisor and Wachtell, Lipton, Rosen & Katz is serving as legal counsel.

About Centerspace
Centerspace is an owner and operator of apartment communities committed to providing great homes by focusing on integrity and serving others. Founded in 1970, Centerspace owns 68 apartment communities consisting of 12,941 homes located in Colorado, Minnesota, Montana, Nebraska, North Dakota, South Dakota, and Utah. Centerspace was named a top workplace for the sixth consecutive year in 2025 by the Minneapolis Star Tribune. For more information, please visit www.centerspacehomes.com 

Forward-Looking Statements

Certain statements in this press release and the Supplemental Operating and Financial Data are based on the Company's current expectations and assumptions, and are "forward-looking statements" within the meaning of the Private Securities Litigation Reform Act of 1995. Forward-looking statements do not discuss historical fact, but instead include statements related to expectations, projections, intentions, or other items related to the future. Forward-looking statements are typically identified by the use of terms such as "expects," "anticipates," "intends," "plans," "believes," "seeks," "estimates," "will," "assumes," "may," "projects," "outlook," "future," and variations of such words and similar expressions. These forward-looking statements involve known and unknown risks, uncertainties, and other factors that may cause the actual results, performance, or achievements to be materially different from the results of operations, financial conditions, or plans expressed or implied by the forward-looking statements. Although the Company believes the expectations reflected in its forward-looking statements are based upon reasonable assumptions, it can give no assurance that the expectations will be achieved. Any statements contained herein that are not statements of historical fact should be deemed forward-looking statements. As a result, reliance should not be placed on these forward-looking statements as these statements are subject to known and unknown risks, uncertainties, and other factors beyond the Company's control and could differ materially from actual results and performance. Such risks and uncertainties are detailed from time to time in filings with the Securities and Exchange Commission ("SEC"), including the "Management's Discussion and Analysis of Financial Condition and Results of Operations" and "Risk Factors" contained in the Company's Annual Report on Form 10-K for the year ended December 31, 2024, in its subsequent quarterly reports on Form 10-Q, and in other reports the Company files with the SEC from time to time. The Company assumes no obligation to update or supplement forward-looking statements that become untrue due to subsequent events. 

If you would like more information about this topic, please contact Josh Klaetsch, Investor Relations, at (952) 401-6600 or IR@centerspacehomes.com.  

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SOURCE Centerspace

FAQ

What did Centerspace (CSR) announce on November 11, 2025 about strategic alternatives?

Centerspace confirmed its Board began a review of strategic alternatives earlier this fall and is considering sale, merger, other combinations, or continuing independently.

Has Centerspace (CSR) set a timetable or made decisions for the strategic review?

No; the company said it has not set a timetable and has made no decisions related to potential strategic alternatives.

Who are Centerspace's advisors for the CSR strategic review?

BMO Capital Markets is the financial advisor and Wachtell, Lipton, Rosen & Katz is serving as legal counsel.

How many properties and homes does Centerspace (CSR) own as of the announcement?

Centerspace owns 68 apartment communities comprising 12,941 homes across seven states.

Will Centerspace (CSR) provide ongoing updates about the Board's review?

The company said it does not intend to disclose or comment on developments unless it determines further disclosure is appropriate or required by law.

Does Centerspace (CSR) guarantee the strategic review will lead to a sale or merger?

No; the company explicitly stated there is no assurance the review will result in a transaction or other strategic change.