---
schema_version: "secwatch.filing_event.v1"
accession: "0001140361-26-035986"
form_type: "8-K"
ticker: "CSR"
cik: "0000798359"
company_name: "CENTERSPACE"
filed_at: "2026-09-09T12:33:47+00:00"
generated_at: "2026-09-09T12:35:07.518474+00:00"
event_type: "m_and_a"
sentiment: "neutral"
materiality_score: 1.0
calibrated_materiality_score: 1.0
confidence: "high"
source: SEC EDGAR
---

# Centerspace to be acquired by Independence Realty Trust in all-stock merger at 3.8x exchange ratio

## Summary
- All-stock deal: each CSR share converts to 3.8 IRT shares; cash paid for fractional shares.
- Both boards unanimously approved; closing requires CSR shareholder adoption and IRT shareholder approval of share issuance.
- Termination fees: $45M from Centerspace, $60M from IRT; deal must close by June 30, 2027.
- Two Centerspace independent trustees to join IRT board post-closing; Series D/E preferred units convert to IRT preferred units.
- Pre-closing dividends capped at $0.77/share (CSR) and $0.18/share (IRT) per quarter; REIT dividends adjust exchange ratio.

## SEC filing metadata
- accession: 0001140361-26-035986
- form_type: 8-K
- ticker: CSR
- cik: 0000798359
- company_name: CENTERSPACE
- filed_at: 2026-09-09T12:33:47+00:00
- event_type: m_and_a
- sentiment: neutral
- materiality_score: 1.0
- calibrated_materiality_score: 1.0
- confidence: high
- sec_items: 1.01, 7.01, 9.01
- EDGAR index: https://www.sec.gov/Archives/edgar/data/798359/000114036126035986/0001140361-26-035986-index.htm
- EDGAR primary document: https://www.sec.gov/Archives/edgar/data/798359/000114036126035986/ef20081761_8k.htm

## Machine-readable alternates
- HTML: https://secwatch.observer/filing/0001140361-26-035986
- JSON: https://secwatch.observer/filing/0001140361-26-035986.json
- Plain text: https://secwatch.observer/filing/0001140361-26-035986.txt

This AI-assisted summary is a reading aid. Review the linked SEC EDGAR filing before relying on any specific claim.