05:08 PM EDT, 06/02/2025 (MT Newswires) -- Centerspace ( CSR ) completed the $149 million acquisition of the Sugarmont multifamily community in Salt Lake City, marking its debut in the city's market.

Sugarmont is a 341-home community, Centerspace ( CSR ) said Monday in a statement.

The company also agreed to acquire a 420-home community in Fort Collins, Colorado, for $132 million, including $76 million of long-term below-market rate mortgage debt.

The Fort Collins transaction is expected to close in mid-June.

Centerspace ( CSR ) exercised the accordion feature of its existing line of credit, expanding borrowing capacity by $150 million to $400 million.

The company's board kept the quarterly distribution at $0.77 per share/unit, payable July 10 to investors of record June 27.