Centerspace Announces Outcome of Strategic Review; $245 Million of Planned Dispositions
Centerspace announced a portfolio optimization plan involving the sale of approximately $245 million in assets, including a full exit from the Bismarck and Rapid City markets. The company expects to reduce total debt by $175-190 million, lowering its proforma Annualized Net Debt to EBITDA from 8.2x to a sub-7x level by Q4 2026.
Key figures
- Guidance
- Updated guidance to be provided with Q2 2026 earnings; current operational outlook unchanged.
- Deal Value Usd
- 245000000
- Debt reduction
- $175-190 million
- Net debt ebitda target
- sub-7x
- Quarterly distribution
- $0.77 per share/unit
- Net debt ebitda current
- 8.2x
- Special distribution potential
- $45-65 million
AI analysis
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