Independence Realty Trust, Centerspace announce $8.1 billion all-stock merger deal - IRT News | RalliesIndependence Realty Trust, Centerspace announce $8.1 billion all-stock merger deal
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IRT• Synergies and earnings impact
- Annualized synergies are estimated at $24 million.
- The deal is expected to be about 5% accretive to 2027 Core FFO per share.
Combined REIT footprint and timing
- The combined REIT is expected to own 163 communities with 44,354 units across 17 states.
- Headquarters are to remain in Philadelphia under the IRT ticker.
- Closing is expected as early as the end of Q4 2026.
All-stock merger terms and ownership split
- Independence Realty Trust will merge with Centerspace in an all-stock deal valuing the combined enterprise at $8.1 billion.
- Centerspace holders are to receive 3.8 IRT shares per CSR share; about 67.6 million IRT shares and units are to be issued.
- Post-close ownership is expected to be about 78% IRT shareholders and ; IRT is to assume Centerspace’s outstanding preferred units.
22% Centerspace shareholders
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