Every 8-K that Centerspace (CSR) has filed with the SEC in the last 24 months is listed below, newest first, and each one links through to the document itself with the summary and the scores our analysis gives it.
A 8-K covers material events a company has to report between its quarterly reports, so if you follow CSR and want that one kind of document rather than the whole filing history, this is the page to keep. The company's other filings, of every form, are on the full CSR filings page.
Centerspace (CSR) agreed to be acquired by Independence Realty Trust (IRT) in an all-stock merger creating a multifamily REIT with about $8.1 billion enterprise value and 44,354 units across 163 communities. Centerspace shareholders will receive 3.8 IRT shares for each Centerspace share, and common OP unitholders will receive 3.8 IROP units per Centerspace OP unit, implying issuance of about 67.6 million IRT shares/OP units and pro forma ownership of roughly 78% IRT stockholders and 22% Centerspace shareholders.
The transaction is expected to be approximately 5% accretive to 2027E Core FFO per share on a leverage-neutral basis, supported by about $24 million of anticipated annual synergies (around $19 million corporate-level and $5 million property-level). IRT expects to maintain its quarterly dividend of $0.18 per share, while Centerspace may pay up to $0.77 per share in regular quarterly dividends until closing, plus a prorated $0.09 stub dividend in the closing quarter.
Closing, targeted as early as the end of the fourth quarter of 2026, is subject to shareholder approvals, effectiveness of an S-4 registration statement, NYSE listing of new IRT shares, lender consents tied to Centerspace debt, tax and REIT-status opinions, and other customary conditions. The merger agreement includes reciprocal termination rights and fees of $45 million payable by Centerspace or $60 million payable by IRT under specified circumstances, and an amendment to Centerspace’s operating partnership agreement aligns unitholder treatment in combinations.
CENTERSPACE (CSR) reports a change to its revolving credit facility under the Third Amended and Restated Credit Agreement for its operating partnership. The company previously used an accordion option to increase aggregate borrowing capacity by $150.0 million, from $250.0 million to $400.0 million on May 29, 2025.
On August 21, 2026, Centerspace notified the administrative agent that it has elected to terminate this previously exercised accordion option, reducing aggregate borrowing capacity by $150.0 million, from $400.0 million back to $250.0 million. The company expects this reduced borrowing capacity to be effective on August 28, 2026, and states that all other material terms of the Credit Agreement remain unchanged.
Centerspace completed the sale of 14 multifamily communities and an associated note receivable in Denver, Minneapolis, Rapid City, and Bismarck as part of a Board-approved portfolio optimization and deleveraging plan. The Denver, Minnesota, and Rapid City transactions closed in June and July 2026, and the Bismarck transaction closed on August 11, 2026. Management evaluated these as a series of related transactions and determined that, in aggregate, they constitute a significant disposition of assets.
Pro forma data show a sale price of $288.8 million for the 2026 dispositions and estimated net cash proceeds of $281.8 million, a portion of which is used to repay the unsecured credit facility. Assuming a $201.0 million reduction of this facility, pro forma interest expense for 2025 declines by $9.6 million, and for the first half of 2026 by $4.7 million. For 2025, net income would have increased from $22.96 million reported to $36.08 million on a pro forma basis, while revenue would have declined from $273.66 million to $238.01 million due to the lost property income. The company is evaluating a potential special distribution of approximately $50–60 million funded from disposition proceeds, while emphasizing that actual use of proceeds and outcomes may differ.
Centerspace published its 2025 Environmental, Social, and Governance (ESG) Report, highlighting ongoing sustainability efforts in its multifamily housing portfolio. This is the company’s seventh annual ESG report since forming its ESG Committee in 2019 to oversee sustainability initiatives.
The company reports on its first year of progress against performance targets aligned with the United Nations Sustainable Development Goals, established in 2024. Reported accomplishments include completing a portfolio-wide greenhouse gas inventory, expanding smart home technology across additional communities, and advancing operational decarbonization through boiler and controls upgrades. As of June 30, 2026, Centerspace owned 60 apartment communities with 12,090 homes across seven states.
Centerspace reported Q2 2026 results reflecting ongoing portfolio repositioning and asset sales. Revenue was $65.8 million, down $2.8 million or 4.0% from Q2 2025, primarily due to prior-year sales of 12 communities. Net loss was $(0.07) per diluted share versus $(0.87) a year earlier, largely because of impairment recorded in the prior year.
FFO per diluted share was $1.20 compared with $1.24 in Q2 2025, and Core FFO per diluted share was $1.27 versus $1.28, a 0.8% decrease. Same-store results were stable, with Q2 same-store NOI up 0.3% year over year and weighted average occupancy at 96.0%. The company also repurchased 45,310 common shares at an average price of $55.54.
Centerspace continued its disposition and deleveraging strategy, selling a 176-home Denver community for $30.0 million in Q2 and, after quarter-end, seven additional communities totaling 786 homes for $139.8 million. Quarter-end liquidity was $242.6 million, including $234.0 million of revolver capacity. The updated 2026 outlook projects net income per diluted share of $6.42–$6.82, FFO of $4.37–$4.50, Core FFO of $4.58–$4.68, expected disposition proceeds of $315.0–$320.0 million, and potential special distributions of $50.0–$60.0 million.
Centerspace has completed a strategic review and approved a portfolio optimization and deleveraging plan built around approximately $240–245 million of apartment community sales in 2026. The plan covers twelve communities, including a full exit from the Bismarck and Rapid City markets and one Denver property, all currently under contract.
The company expects these dispositions to reduce total debt by $175–190 million, improve pro forma Net Debt to EBITDA from 8.2x in Q1 2026 to a sub‑7x level, and support potential special distributions of $45–65 million to shareholders and unitholders. Centerspace also declared a regular quarterly distribution of $0.77 per share/unit, payable July 14, 2026 to holders of record on June 29, 2026.
Recent non‑GAAP metrics highlight the current leverage profile. For the three months ended March 31, 2026, Net Operating Income was $39.5 million, Adjusted EBITDA was $31.6 million (annualized to $126.5 million), total debt was about $1.05 billion, and Net Debt to Adjusted EBITDA stood at 8.2x.
Centerspace reported the results of its 2026 Annual Meeting of Shareholders. Investors elected six trustees for one-year terms, including Anne Olson and John A. Schissel, and supported all management proposals. Shareholders approved the non-binding advisory vote on executive compensation and ratified Grant Thornton LLP as independent auditor for 2026.
The meeting had strong participation, with 14,981,013 common shares present or represented by proxy out of 16,785,899 shares outstanding as of the March 20, 2026 record date, representing approximately 89.24% of eligible shares.
Centerspace furnished an investor presentation outlining its multifamily portfolio, recent performance, and 2026 outlook. The company owns and operates 12,263 apartments and reports total capitalization of $2.2 billion, with 52% common equity, 27% secured debt, and 21% unsecured debt.
For 2026, guidance calls for same-store revenue growth between 0.0% and 1.75%, same-store NOI growth between -0.5% and 2.0%, and Core FFO per share between $4.81 and $5.05, compared with $4.93 in 2025. Net income per share is guided between $(0.95) and $(0.66). Centerspace highlights stable leasing spreads, strong resident retention, and a weighted average debt interest rate of 3.6% with a 6.7‑year average maturity, alongside an 8.2x net debt to annualized adjusted EBITDA ratio in Q1 2026.
Centerspace reported first-quarter 2026 results showing lower earnings but stable property performance and reaffirmed its core outlook. Revenue was $65.1 million, down 3.0% from $67.1 million a year earlier, mainly because the company sold 12 apartment communities in the prior year. Net loss widened to $0.77 per diluted share, compared with a net loss of $0.22 per diluted share in the prior-year quarter.
On a cash-flow basis, FFO was $1.07 per diluted share and Core FFO was $1.12, both down from $1.17 and $1.21 a year ago, largely reflecting the smaller portfolio. Same-store revenue was essentially flat year over year, while same-store NOI declined 1.1% as property operating expenses rose 1.7%. Weighted average same-store occupancy remained high at 95.4%.
The company ended the quarter with $267.1 million of total liquidity, including $259.6 million of available credit and $7.6 million of cash. For 2026, Centerspace reaffirmed its Core FFO per diluted share outlook of $4.81 to $5.05, slightly increased its FFO guidance range, and kept same-store revenue and NOI growth ranges unchanged.
Centerspace reported that trustee Emily Nagle Green has decided not to stand for re-election and will retire from the Board of Trustees when her current term ends at the conclusion of the 2026 Annual Meeting of Shareholders scheduled for May 13, 2026. She will also step down as chair of the Nominating and Governance Committee and as a member of the Audit Committee at that time. The company highlighted her background as a three-time technology-sector CEO and her focus on innovation, technology, and cybersecurity during her tenure since 2018.
Centerspace furnished an investor presentation with its 2025 results and 2026 outlook. For 2025, diluted FFO per share was $4.74 and Core FFO was $4.93. For 2026, the company guides diluted FFO per share to $4.61–$4.89 and Core FFO to $4.81–$5.05, with same-store revenue, NOI and expense growth midpoints of 0.9%, 0.8%, and 1.5%, respectively.
The presentation highlights ownership of 12,262 apartments and a total capitalization of $2.4 billion. Centerspace executed about $493 million of 2025 transactions, including acquisitions in Salt Lake City and Fort Collins and dispositions in Minnesota, to upgrade asset quality and concentrate in Midwest and Mountain West markets.
Leverage metrics show year-end 2025 net debt of $1.04 billion and net debt to annualized adjusted EBITDA of 7.6x, with a diversified capital base and a weighted average debt maturity of 6.9 years. Management emphasizes stable market fundamentals, favorable rent-to-income ratios, and an improving supply-demand backdrop across its key regions.
Centerspace reported a return to profitability in 2025 and issued its 2026 outlook. Net income was $22.96 million, or $1.02 per diluted share, compared with a net loss of $14.19 million, or $(1.27) per share, in 2024. Core FFO per diluted share inched up to $4.93 from $4.88, while total NOI rose 6.1% to $167.4 million, driven by a 3.5% increase in same-store NOI on 2.4% revenue growth and tightly controlled expenses.
The company reshaped its portfolio, acquiring two communities for $281.2 million (including $76.5 million of assumed mortgage debt) and selling twelve non-core communities plus one office building for $215.5 million. At December 31, 2025, liquidity totaled $267.9 million, including $255.1 million of undrawn credit capacity and $12.8 million of cash. Centerspace’s board maintained an annualized common distribution of $3.08 per share/unit and has an ongoing strategic review of alternatives with no set timetable.
For 2026, management guides to diluted net income per share between $(0.49) and $(0.19), FFO per diluted share of $4.61–$4.89, and Core FFO per diluted share of $4.81–$5.05, implying relatively stable cash earnings alongside modest same-store NOI growth expectations.
Centerspace furnished an investor presentation under Item 7.01 (Regulation FD). On November 10, 2025, the company posted the presentation to its website, highlighting certain financial and operational results for the nine months ended September 30, 2025 and year-to-date operating information.
The presentation is furnished as Exhibit 99.1 and incorporated by reference. The materials in Items 7.01 and 9.01, including Exhibit 99.1, are not deemed “filed” under the Exchange Act and are not subject to Section 18 liability, nor incorporated into other filings unless specifically referenced.
Centerspace furnished an 8-K announcing it issued an earnings release for the three and nine months ended September 30, 2025. The press release, which includes operational and financial results, is provided as Exhibit 99.1 and incorporated by reference. The company noted that the information under Item 2.02 and Exhibit 99.1 is furnished, not filed, and therefore is not subject to liability under Section 18 of the Exchange Act nor incorporated into other filings except as specifically referenced.
Centerspace furnished an update about the sale of its St. Cloud communities. The company issued a press release on September 23, 2025 describing this disposition, and has attached that release as Exhibit 99.1. The disclosure is provided under Regulation FD and is treated as furnished, not filed, under securities laws.