8-K

UNITED STATES

SECURITIES AND EXCHANGE COMMISSION

Washington, D.C. 20549

FORM 8-K

CURRENT REPORT

Pursuant to Section 13 or 15(d) of the Securities Exchange Act of 1934

Date of Report (Date of earliest event reported): January 11, 2022

CENTERSPACE

(Exact name of Registrant as specified in its charter)

3100 10th Street SW, Post Office Box 1988, Minot, ND 58702-1988

(Address of principal executive offices) (Zip code)

(701) 837-4738

(Registrant’s telephone number, including area code)

Not Applicable

(Former name or former address, if changed from last report)

Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions:

☐    Written communications pursuant to Rule 425 under the Securities Act

☐    Soliciting material pursuant to Rule 14a-12 under the Exchange Act

☐    Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act

☐    Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act

Securities registered pursuant to Section 12(b) of the Securities Exchange Act of 1934:

Indicate by check mark whether the registrant is an emerging growth company as defined in Rule 405 of the Securities Act of 1933 or Rule 12b-2 of the Securities Exchange Act of 1934.

Emerging growth company ☐

If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act. ☐

Item 5.02. Departure of Certain Officers; Election of Directors; Appointment of Certain Officers; Compensatory Arrangements of Certain Officers.

As previously, reported on November 4, 2021, Bhairav Patel was appointed to the position of Executive Vice President, Finance, of Centerspace, a North Dakota real estate investment trust (the “Company”) to assume the position of Chief Financial Officer of the Company. On January 10, 2022, Bhairav Patel was appointed to serve as the Chief Financial Officer of the Company effective immediately. There is no arrangement or understanding between Mr. Patel and any other person pursuant to which he was selected as an officer of the Company, and there are no related party transactions involving Mr. Patel that are reportable under Item 404(a) of Regulation S-K. There are no family relationships between any director or executive officer of the Company and Mr. Patel.

Also, as previously reported, the Company and John A. Kirchmann, Executive Vice President and Chief Financial Officer of the Company, reached a mutual agreement for Mr. Kirchmann to be separated from his positions at the Company. Effective as of Mr. Patel’s appointment as Chief Financial Officer, Mr. Kirchmann will no longer serve as Chief Financial Officer of the Company. He will continue with the Company as an Executive Vice President.

Item 7.01 Regulation FD Disclosure.

On January 11, 2011, the Company issued a press release announcing Mr. Patel’s appointment. Pursuant to Item 7.01 of Form 8-K, a copy of the press release is furnished as Exhibit 99.1 to this Current Report on Form 8-K.

The information in Item 7.01 and Item 9.01, including Exhibit 99.1, shall not be deemed “filed” for purposes of Section 18 of the Securities Exchange Act of 1934, or otherwise subject to the liability of such section, nor shall it be deemed incorporated by reference in any filing of the Company under the Securities Act of 1933 or the Securities Exchange Act of 1934, regardless of any general incorporation language in such filing, unless expressly incorporated by specific reference in such filing.

ITEM 9.01    Financial Statements and Exhibits

(d)Exhibits

SIGNATURE

Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.

Document

FOR IMMEDIATE RELEASE             Contact Information

Emily Miller, Investor Relations

Phone : (701) 837-7104

E-mail : IR@centerspacehomes.com

CENTERSPACE WELCOMES NEW CHIEF FINANCIAL OFFICER

MINNEAPOLIS, MN, January 11, 2022 – Centerspace (NYSE: CSR) announced today that Bhairav Patel has been appointed as the Chief Financial Officer of the Company. He succeeds John Kirchmann who announced in November 2021 that he would step down to pursue other opportunities. John will remain with the Company as EVP to insure a smooth transition.

Mr. Patel is responsible for all aspects of the Company’s financial strategy and operations including accounting, financial reporting, financial planning and analysis, treasury, and tax.

“I am thrilled to join Centerspace and am humbled by the confidence placed in me by the Centerspace team and its Board of Trustees. It is an exciting time for the multifamily industry, and I am excited to be a part of it. I look forward to collaborating with the Centerspace team to build on the progress and take Centerspace to new heights,” stated Bhairav Patel, new Executive Vice President and Chief Financial Officer.

About Centerspace

Centerspace is an owner and operator of apartment communities committed to providing great homes by focusing on integrity and serving others. Founded in 1970, the company currently owns 83 apartment communities consisting of 14,718 homes located in Colorado, Minnesota, Montana, Nebraska, North Dakota, and South Dakota. Centerspace was named a Top Workplace for 2021 by the Minneapolis Star Tribune. For more information, please visit www.centerspacehomes.com.

If you would like more information about this topic, please contact Emily Miller, Investor Relations, at (701) 837-7104 or IR@centerspacehomes.com.