Statement of Changes in Beneficial Ownership (4)

FORM 4

[ ] Check this box if no longer subject to Section 16. Form 4 or Form 5 obligations may continue. See Instruction 1(b).

UNITED STATES SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549

STATEMENT OF CHANGES IN BENEFICIAL OWNERSHIP OF SECURITIES

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Filed pursuant to Section 16(a) of the Securities Exchange Act of 1934 or Section 30(h) of the Investment Company Act of 1940

1. Name and Address of Reporting Person * Decker Mark Okey Jr	2. Issuer Name and Ticker or Trading Symbol CENTERSPACE [ CSR ]	5. Relationship of Reporting Person(s) to Issuer (Check all applicable) __X__ Director                    _____ 10% Owner __X__ Officer (give title below)    _____ Other (specify below) President, CEO and CIO
(Last)          (First)          (Middle) C/O CENTERSPACE, 3100 10TH STREET SW	3. Date of Earliest Transaction (MM/DD/YYYY) 1/1/2022
(Street) MINOT, ND 58701 (City)        (State)        (Zip)	4. If Amendment, Date Original Filed (MM/DD/YYYY)	6. Individual or Joint/Group Filing (Check Applicable Line) _X _ Form filed by One Reporting Person ___ Form filed by More than One Reporting Person

Table I - Non-Derivative Securities Acquired, Disposed of, or Beneficially Owned
1.Title of Security (Instr. 3)	2. Trans. Date	2A. Deemed Execution Date, if any	3. Trans. Code (Instr. 8)		4. Securities Acquired (A) or Disposed of (D) (Instr. 3, 4 and 5)			5. Amount of Securities Beneficially Owned Following Reported Transaction(s) (Instr. 3 and 4)	6. Ownership Form: Direct (D) or Indirect (I) (Instr. 4)	7. Nature of Indirect Beneficial Ownership (Instr. 4)
			Code	V	Amount	(A) or (D)	Price
Common Shares of Beneficial Interest	1/1/2022		M		991	A	$0	37555.78 (1)	D
Common Shares of Beneficial Interest	1/1/2022		F		356 (2)	D	$110.90	37199.78 (1)	D
Common Shares of Beneficial Interest								20	I	Child 4
Common Shares of Beneficial Interest								20	I	Child 2
Common Shares of Beneficial Interest								20	I	Child 3
Common Shares of Beneficial Interest								1525	I	By Spouse IRA
Common Shares of Beneficial Interest								20	I	Child 1

Table II - Derivative Securities Beneficially Owned (e.g., puts, calls, warrants, options, convertible securities)
1. Title of Derivate Security (Instr. 3)	2. Conversion or Exercise Price of Derivative Security	3. Trans. Date	3A. Deemed Execution Date, if any	4. Trans. Code (Instr. 8)		5. Number of Derivative Securities Acquired (A) or Disposed of (D) (Instr. 3, 4 and 5)		6. Date Exercisable and Expiration Date		7. Title and Amount of Securities Underlying Derivative Security (Instr. 3 and 4)		8. Price of Derivative Security (Instr. 5)	9. Number of derivative Securities Beneficially Owned Following Reported Transaction(s) (Instr. 4)	10. Ownership Form of Derivative Security: Direct (D) or Indirect (I) (Instr. 4)	11. Nature of Indirect Beneficial Ownership (Instr. 4)
				Code	V	(A)	(D)	Date Exercisable	Expiration Date	Title	Amount or Number of Shares
Restricted Stock Units	$0.0	1/1/2022		A		1991 (3)		(3)	(3)	Common Shares of Beneficial Interest	1991.0	$0	1991	D
Restricted Stock Units	$0.0	1/1/2022		M			991	1/1/2022	1/1/2022	Common Shares of Beneficial Interest	991.0	$0	1982	D
Stock Options (Right to Buy)	$110.9	1/1/2022		A		13366 (4)		(4)	1/1/2032	Common Shares of Beneficial Interest	13366.0	$110.90	13366	D

Explanation of Responses:
(1)	The number of shares includes 88.119 shares acquired in 2021 under the Company's dividend reinvestment plan (the "DRIP"). It also include additional shares that were not previously reported due to administrative errors. The majority of these shares are time-vested RSUs that were appropriately reported as derivates on the reporting person's Forms 4 at the time of grant, but not recategorized as shares of common stock at the time of vesting. It also includes shares acquired in years prior to 2021 under the DRIP.
(2)	Represents shares withheld for payment of taxes in connection with the vesting of restricted stock.
(3)	Represents a time-based contingent right to receive 1,991 common shares of beneficial interest of Centerspace vesting over three years, in one-third increments on each anniversary of the grant date: January 1, 2023, 2024 and 2025.
(4)	Represents the right to purchase 13,366 common shares of beneficial interest of Centerspace, vesting over four years in one-fourth increments on each anniversary of the grant date: January 1, 2023, 2024, 2025 and 2026.

Reporting Owners
Reporting Owner Name / Address	Relationships
	Director	10% Owner	Officer	Other
Decker Mark Okey Jr C/O CENTERSPACE 3100 10TH STREET SW MINOT, ND 58701	X		President, CEO and CIO

Signatures
Anne Olson, Attorney in Fact for Mark O. Decker, Jr.		1/4/2022
**Signature of Reporting Person		Date