secwatch.observer — SEC 8-K summary
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Issuer:     CENTERSPACE (CSR)
CIK:        0000798359
Form:       8-K
Filed at:   2026-09-09T12:33:47+00:00
Accession:  0001140361-26-035986
Event type: m_and_a
Sentiment:  neutral
Materiality: 1.00
Item codes: 1.01, 7.01, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

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

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/798359/000114036126035986/0001140361-26-035986-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/798359/000114036126035986/ef20081761_8k.htm
  HTML page:      https://secwatch.observer/filing/0001140361-26-035986

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