IRT to acquire Centerspace in all-stock deal at 3.8x exchange ratio; close expected Q4 2026

INDEPENDENCE REALTY TRUST, INC.

IRT to acquire CSR via merger; each CSR share converts to 3.800 IRT shares, cash for fractional shares; close expected Q4 2026.
IRT OP secured $716M senior unsecured term loan commitment from Royal Bank of Canada to finance deal, assumption/repayment of CSR debt.
CSR may pay up to $0.77/share quarterly dividend; IRT up to $0.18/share. Termination fees: $45M (CSR) or $60M (IRT).
CSR RSUs/PSUs/options convert to IRT equity at 3.8x ratio; two CSR independent trustees to join IRT board post-close.
Deal requires IRT/CSR shareholder approvals, NYSE listing, S-4 effectiveness; outside date June 30, 2027.

This headline and bullets were generated automatically by deepseek-v4-flash:cloud@v2 from the public filing. Read the source on SEC.gov before relying on any specific claim. Not investment advice. See methodology for how this pipeline works.