Mason P. Guell's questions to CENTERSPACE (CSR) leadership • Q2 2025
Question
Mason Guell of Baird asked for specifics on renewal rates being sent out for August and September, the outlook for blended rates in the second half of the year, and for numerical details on new and blended lease rates in the company's tertiary markets.
Answer
EVP & CFO Bhairav Patel responded that renewals sent out through October are in the high 2% to 3% range and that second-half blended rate growth should be similar to the first half. He specified that for Q2, markets like Nebraska and North Dakota saw 6-7% rent growth, while Minneapolis was around 3%, with Denver being the main negative outlier.