Independence Realty Trust Stockholders and Centerspace Shareholders Approve Merger
Key Highlights
- ➤IRT stockholders approved merger-related share issuance with 88.1% of votes cast in favor
- ➤Centerspace shareholders approved merger with 99.6% of votes cast, representing 80.4% outstanding shares
- ➤Centerspace shareholders will receive 3.800 IRT shares per common share at closing
- ➤Merger closing remains subject to remaining conditions, with IRT able to defer closing over lender consents
Expert Statements
Scott Schaeffer, Chairman and Chief Executive Officer of Independence Realty Trust
“We greatly appreciate the support of IRT stockholders, who voted overwhelmingly in favor of the merger. Today’s vote is an exciting milestone toward creating a leading multifamily REIT focused on high-growth, non-gateway markets in the Sunbelt, Midwest, and Mountain West regions of the U.S.”
Scott Schaeffer, Chairman and Chief Executive Officer of Independence Realty Trust
“We are bringing together portfolios in markets that have historically delivered above-average NOI growth with lower volatility.”
Independence Realty Trust Stockholders and Centerspace Shareholders Approve Merger
Independence Realty Trust, Inc. (NYSE: IRT) (“IRT”), a multifamily real estate investment trust (“REIT”) included in the S&P MidCap 400 Index, and Centerspace (NYSE: CSR) (“Centerspace”), a multifamily REIT, today announced that, at their respective special meetings held today, IRT stockholders and Centerspace shareholders approved all of the proposals necessary for the closing of the previously announced merger pursuant to which Centerspace will merge with IRT (the “Merger”).
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