Independence Realty Trust And Centerspace To Merge In $8.1 Billion Combination

Sept. 9 (Reuters) - Centerspace CSR.N:

• Independence Realty Trust and Centerspace to merge in $8.1 billion combination
• Scott Schaeffer to serve as chairman and CEO, James Sebra as president and CFO
• The deal is expected to be 5% accretive to 2027 core FFO per share
• IRT stockholders to own 78%, Centerspace shareholders 22% of the combined company equity
• Centerspace shareholders will receive 3.800 shares of IRT common stock for each share of Centerspace common stock owned
• The combined company will retain the Independence Realty Trust name and continue to trade under ticker symbol "IRT" on the NYSE
• The company expects to continue quarterly dividend of $0.18 per share following closing
• The merger is expected to generate annualized synergies of about $24 million