Independence Realty Trust (IRT) and Steadfast Apartment REIT Announce Strategic Merger
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Independence Realty Trust and Steadfast Apartment REIT Announce Strategic Merger
July 26, 2021 4:02 PM EDTCreates a leading public multifamily REIT focused on the high-growth U.S. Sunbelt region; combined company will own approximately 38,000 apartment units across 131 communities
Creates a top 3 publicly traded multifamily REIT focused on the Sunbelt region
Merger will join together two high-quality portfolios in attractive non-gateway markets demonstrating outsized growth fundamentals
Enhances opportunity to execute proven value-add program and unlock value across combined portfolio
Increased scale and operational efficiencies expected to generate approximately $28 million in annual synergies
Expected to be immediately accretive to key earnings metrics
PHILADELPHIA &... More
