Independence Realty Trust and Centerspace agree to $8.1B all-stock merger

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Go back to Independence Realty Trust and Centerspace agree to $8.1B all-stock merger

Independence Realty Trust and Centerspace to Merge in $8.1 Billion Combination

September 9, 2026 6:00 AM EDT

Creating a leading middle-market apartment REIT with greater scale, broader geographic diversification, and an expanded value-add growth pipeline positioned to deliver attractive risk-adjusted returns with no additional leverage.

Transaction Highlights

Creates a leading public residential REIT with a pro forma equity market capitalization of approximately $5.0 billion and an enterprise value of approximately $8.1 billion, with more than 44,000 apartment units in the combined portfolio Increases geographic diversification across high-growth markets, with 58% of pro forma NOI derived from Sunbelt markets, 27% from Midwest markets, and 15% from Mountain West markets Expands margins by scaling proven operational... More