IRT‑CSR Merger

Independence Realty Trust (IRT) and Centerspace (CSR) announced an all‑stock merger that will create a single multifamily REIT with an enterprise value of approximately $8.1 billion and an equity market capitalization of about $5 billion. The transaction gives CSR shareholders 3.8 IRT shares for each CSR share, resulting in a 22 % stake in the combined company, while IRT shareholders will retain about 78 %. The deal is expected to close in the fourth quarter of 2026, pending shareholder approval and customary closing conditions.