CENTERSPACE

Centerspace, Inc. (NYSE: CSR) operates as a real estate investment trust focused on the ownership, management, acquisition, development, and redevelopment of apartment communities. The company maintains its website at www.centerspacehomes.com and conducts daily business operations primarily through its operating partnership, Centerspace, LP, structured as an Umbrella Partnership REIT since 1997.

As of December 31, 2025, Centerspace owned 61 apartment communities containing 12,262 homes with a total real estate investment amount, net of accumulated depreciation, of $1.9 billion. The company's portfolio is geographically concentrated in the Midwest and Mountain West regions of the United States, with particular emphasis on large, attractive markets including Minneapolis/St. Paul, Denver, Boulder/Fort Collins, and Salt Lake City metropolitan areas. The company focuses on markets characterized by stable and growing economic conditions, strong employment, and attractive quality of life factors that support higher demand for apartment homes and resident retention.

Centerspace's operational strategy emphasizes providing exceptional resident experiences, attracting and retaining diverse talent, scaling business efficiencies, leveraging technology and systems, and advancing environmental, social, and governance initiatives. The investment strategy encompasses increasing distributable cash flow, managing the balance sheet to maintain flexibility, and investing in high-quality and efficient rental communities.

The company employs 349 team members across multiple states, comprising 334 full-time and 15 part-time employees with an average tenure of 4.7 years. Centerspace maintains a comprehensive total rewards program including competitive compensation, health and dental benefits, paid leave, 401(k) plans, tuition reimbursement, and employee volunteer opportunities. During 2025, team members completed over 2,700 volunteer hours and approximately 14,800 training courses.

Centerspace finances its operations through a combination of common share issuance, preferred shares, Units in exchange for property, and borrowed funds. The company maintains an unsecured credit facility with $400 million in borrowing capacity and has issued unsecured senior promissory notes totaling $300 million. As of December 31, 2025, the company's ratio of total indebtedness to total gross real estate investments was 41.8%. The company targets cash distributions to shareholders and unitholders of approximately 65 to 90 percent of funds from operations.