CENTERSPACE
For the period ended May 4, 2026. Filed May 4, 2026.
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A notice of a major event between regular reports, such as results, a deal or a change of executives. It is often the first formal record of the news.
May 4, 2026 · Filed May 4, 2026
Contents
EX-99.1 · Same-Store Comparisons
SAME-STORE FIRST QUARTER COMPARISONS
(in thousands, except property data amounts and percentages)
| Apartment Homes Included · Revenues · Expenses · NOI(2) | ||||||||||
|---|---|---|---|---|---|---|---|---|---|---|
| Regions · Q1 2026 · Q1 2025 · % Change · Q1 2026 · Q1 2025 · % Change · Q1 2026 · Q1 2025 · % Change | ||||||||||
| Denver, CO | 1,977 | $11,912 | $12,615 | (5.6)% | $4,681 | $4,842 | (3.3)% | $7,231 | $7,773 | (7.0)% |
| Minneapolis, MN | 3,745 | 19,655 | 19,375 | 1.4% | 8,336 | 8,119 | 2.7% | 11,319 | 11,256 | 0.6% |
| Boulder/Ft. Collins, CO | 559 | 3,384 | 3,461 | (2.2)% | 1,242 | 1,050 | 18.3% | 2,142 | 2,411 | (11.2)% |
| North Dakota | 1,710 | 7,866 | 7,516 | 4.7% | 3,024 | 3,003 | 0.7% | 4,842 | 4,513 | 7.3% |
| Omaha, NE | 872 | 3,884 | 3,751 | 3.5% | 1,336 | 1,418 | (5.8)% | 2,548 | 2,333 | 9.2% |
| Rochester, MN | 1,129 | 6,180 | 6,143 | 0.6% | 2,457 | 2,194 | 12.0% | 3,723 | 3,949 | (5.7)% |
| Other Mountain West(1) | 1,222 | 5,317 | 5,332 | (0.3)% | 1,853 | 1,910 | (3.0)% | 3,464 | 3,422 | 1.2% |
| Same-Store Total | 11,214 | $58,198 | $58,193 | —% | $22,929 | $22,536 | 1.7% | $35,269 | $35,657 | (1.1)% |
| % of NOI · Weighted Average Occupancy (3) · Average MonthlyRental Rate (3) · Average MonthlyRevenue per Occupied Home (3) | ||||||||||
|---|---|---|---|---|---|---|---|---|---|---|
| Regions · Q1 2026 · Q1 2025 · Growth · Q1 2026 · Q1 2025 · % Change · Q1 2026 · Q1 2025 · % Change | ||||||||||
| Denver, CO | 20.5% | 93.5% | 94.7% | (1.2)% | $1,936 | $1,976 | (2.0)% | $2,148 | $2,275 | (5.6)% |
| Minneapolis, MN | 32.1% | 96.2% | 96.2% | —% | 1,622 | 1,590 | 2.0% | 1,819 | 1,794 | 1.4% |
| Boulder/Ft. Collins, CO | 6.1% | 95.4% | 96.2% | (0.8)% | 1,913 | 1,910 | 0.2% | 2,114 | 2,145 | (1.4)% |
| North Dakota | 13.7% | 95.7% | 96.9% | (1.2)% | 1,462 | 1,380 | 5.9% | 1,603 | 1,513 | 5.9% |
| Omaha, NE | 7.2% | 95.5% | 94.1% | 1.4% | 1,427 | 1,378 | 3.6% | 1,554 | 1,524 | 2.0% |
| Rochester, MN | 10.6% | 97.0% | 96.6% | 0.4% | 1,806 | 1,763 | 2.4% | 1,881 | 1,878 | 0.2% |
| Other Mountain West(1) | 9.8% | 94.4% | 95.9% | (1.5)% | 1,367 | 1,345 | 1.6% | 1,536 | 1,517 | 1.3% |
| Same-Store Total | 100.0% | 95.4% | 95.8% | (0.4)% | $1,643 | $1,616 | 1.7% | $1,813 | $1,813 | —% |
(1)Includes apartment communities in Billings, Montana and Rapid City, South Dakota.
(2)NOI is a non-GAAP financial measure. Refer to pages S-17 through S-21 “Non-GAAP Financial Measures and Other Terms” for additional information.
SAME-STORE SEQUENTIAL QUARTER COMPARISONS
(in thousands, except property data amounts and percentages)
| Apartment Homes Included · Revenues · Expenses · NOI(2) | ||||||||||
|---|---|---|---|---|---|---|---|---|---|---|
| Regions · Q1 2026 · Q4 2025 · % Change · Q1 2026 · Q4 2025 · % Change · Q1 2026 · Q4 2025 · % Change | ||||||||||
| Denver, CO | 1,977 | $11,912 | $12,121 | (1.7)% | $4,681 | $4,308 | 8.7% | $7,231 | $7,813 | (7.4)% |
| Minneapolis, MN | 3,745 | 19,655 | 19,580 | 0.4% | 8,336 | 8,420 | (1.0)% | 11,319 | 11,160 | 1.4% |
| Boulder/Ft. Collins, CO | 559 | 3,384 | 3,441 | (1.7)% | 1,242 | 1,064 | 16.7% | 2,142 | 2,377 | (9.9)% |
| North Dakota | 1,710 | 7,866 | 7,868 | —% | 3,024 | 2,533 | 19.4% | 4,842 | 5,335 | (9.2)% |
| Omaha, NE | 872 | 3,884 | 3,893 | (0.2)% | 1,336 | 890 | 50.1% | 2,548 | 3,003 | (15.2)% |
| Rochester, MN | 1,129 | 6,180 | 6,094 | 1.4% | 2,457 | 2,343 | 4.9% | 3,723 | 3,751 | (0.7)% |
| Other Mountain West(1) | 1,222 | 5,317 | 5,378 | (1.1)% | 1,853 | 1,634 | 13.4% | 3,464 | 3,744 | (7.5)% |
| Same-Store Total | 11,214 | $58,198 | $58,375 | (0.3)% | $22,929 | $21,192 | 8.2% | $35,269 | $37,183 | (5.1)% |
| % of NOI · Weighted Average Occupancy (3) · Average MonthlyRental Rate (3) · Average MonthlyRevenue per Occupied Home (3) | ||||||||||
|---|---|---|---|---|---|---|---|---|---|---|
| Regions · Q1 2026 · Q4 2025 · Growth · Q1 2026 · Q4 2025 · % Change · Q1 2026 · Q4 2025 · % Change | ||||||||||
| Denver, CO | 20.5% | 93.5% | 93.9% | (0.4)% | $1,936 | $1,938 | (0.1)% | $2,148 | $2,186 | (1.7)% |
| Minneapolis, MN | 32.1% | 96.2% | 95.8% | 0.4% | 1,622 | 1,620 | 0.1% | 1,819 | 1,819 | —% |
| Boulder/Ft. Collins, CO | 6.1% | 95.4% | 95.8% | (0.4)% | 1,913 | 1,903 | 0.5% | 2,114 | 2,142 | (1.3)% |
| North Dakota | 13.7% | 95.7% | 96.1% | (0.4)% | 1,462 | 1,455 | 0.5% | 1,603 | 1,597 | 0.4% |
| Omaha, NE | 7.2% | 95.5% | 95.2% | 0.3% | 1,427 | 1,423 | 0.3% | 1,554 | 1,564 | (0.6)% |
| Rochester, MN | 10.6% | 97.0% | 95.0% | 2.0% | 1,806 | 1,802 | 0.2% | 1,881 | 1,893 | (0.6)% |
| Other Mountain West(1) | 9.8% | 94.4% | 95.3% | (0.9)% | 1,367 | 1,364 | 0.2% | 1,536 | 1,540 | (0.3)% |
| Same-Store Total | 100.0% | 95.4% | 95.3% | 0.1% | $1,643 | $1,640 | 0.2% | $1,813 | $1,819 | (0.3)% |
(1)Includes apartment communities in Billings, Montana and Rapid City, South Dakota.
(2)NOI is a non-GAAP financial measure. Refer to pages S-17 through S-21 “Non-GAAP Financial Measures and Other Terms” for additional information.
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