NOTE 16 – ACQUISITIONS OF CONSOLIDATED PROPERTIES The Trust had two acquisitions during the nine months ended September 30, 2026. | | | | | | | | | | | | | Date | | Property Name | | Location | | Property Type | | | Units/ Square Footage/ Acres | | Total Net Assets Acquired | 2/9/26 | | Stonebridge Apartments | | Fargo, ND | | Apartment Complex | | | 246 units | | $ | 26,716 | 5/12/26 | | Patricia Ann Apartments | | Fargo, ND | | Apartment Complex | | | 36 units | | | 1,702 | | | | | | | | | | | | $ | 28,418 |
The Trust had one acquisition during the nine months ended September 30, 2025. | | | | | | | | | | | | | | Date | | Property Name | | Location | | Property Type | | | Units/ Square Footage/ Acres | | Total Net Assets Acquired | | 7/16/25 | | Sterling Pointe | | Grand Forks, ND | | Apartment Complex | | | 196 units | | $ | 21,373 | | | | | | | | | | | | | $ | 21,373 | |
The table below represents a summary of the purchase accounting allocation and reconciliation to net cash consideration of the properties acquired. | | | | | | | | | | | September 30, | | | | 2026 | | 2025 | Real estate investment acquired | | | $ | 27,718 | | $ | 21,008 | Acquired lease intangible assets | | | | 753 | | | 792 | Assumed assets | | | | 34 | | | 345 | Total Assets Acquired | | | $ | 28,505 | | $ | 22,145 | Other liabilities | | | | (87) | | | (772) | Net assets acquired | | | | 28,418 | | | 21,373 | Equity/limited partnership unit consideration | | | | (10,045) | | | (10,518) | Net cash consideration | | | $ | 18,373 | | $ | 10,855 |
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