M&A
confidence high
sentiment positive
materiality 0.60
IRT and Centerspace shareholders approve merger; 3.800 IRT shares per CSR share
INDEPENDENCE REALTY TRUST, INC.
- IRT stockholders approved issuing shares for the merger: 182,074,892 votes for, 24,519,307 against, 185,757 abstentions; about 88.1% of votes cast in favor.
- Centerspace shareholders approved the merger with roughly 99.6% of votes cast in favor, representing 80.4% of Centerspace's outstanding common shares.
- Exchange ratio: 3.800 IRT common shares per Centerspace common share; Centerspace OP unitholders receive 3.800 IRT OP units, with cash in lieu of fractional shares.
- Merger agreement dated September 8, 2026, amended September 22, 2026; both special meetings held November 10, 2026, closing still subject to remaining conditions.
- IRT may defer closing until lenders consent on unrepaid Centerspace mortgage loans, or at latest the tenth business day before June 30, 2027.