Independence Realty Trust and Centerspace Shareholders Approve Multifamily Merger

Independence Realty Trust and Centerspace shareholders approved all proposals needed to close their merger at special meetings on November 10, 2026, with Centerspace holders to receive 3.800 IRT shares per share. Business Wire reported the vote. Independence Realty Trust is a multifamily REIT in the S&P MidCap 400 Index, and Centerspace is a multifamily REIT founded in 1970.

How the IRT and Centerspace Vote Split

About 88.1% of the votes cast at IRT's special meeting were voted in favor of issuing IRT common stock in connection with the merger. About 99.6% of the votes cast at Centerspace's special meeting, representing 80.4% of Centerspace's outstanding common shares, were voted in favor of the merger. Final voting results are subject to certification by the companies' respective independent inspectors of election and will be filed by both companies with the SEC in separate Current Reports on Form 8-K.

Upon closing, Centerspace shareholders will receive 3.800 shares of IRT common stock for each Centerspace common share owned, and holders of common units in Centerspace's operating partnership will receive 3.800 common units in IRT's operating partnership for each unit held, subject to certain adjustments, with cash paid in lieu of fractional shares. Completion is subject to the satisfaction or waiver of the remaining closing conditions. IRT also holds a contractual right, in its sole discretion and by written notice to Centerspace, to defer the closing until the earliest of the tenth business day after lender consents are in place for designated mortgage loans that have not been repaid, refinanced or defeased, and the tenth business day before June 30, 2027.

"We greatly appreciate the support of IRT stockholders, who voted overwhelmingly in favor of the merger," said Scott Schaeffer, Chairman and Chief Executive Officer of IRT. "We are bringing together portfolios in markets that have historically delivered above-average NOI growth with lower volatility."

Centerspace owned 47 apartment communities consisting of 10,456 units in Colorado, Minnesota, Montana, Nebraska, North Dakota and Utah as of September 9, 2026, according to the company's own announcement.

Independence Realty Trust's Portfolio Scale

Independence Realty Trust owns and operates approximately 113 multifamily apartment properties across non-gateway U.S. markets in the Southeastern and Midwest regions, according to akta.pro company records. The same records list 110+ apartment communities under management and more than 55,000 residents served across 12 states and 26 markets. The company completed a $150 million private placement of unsecured notes to a single institutional investor in August 2024, with proceeds earmarked to repay maturing 2025 mortgage debt and refinance revolver borrowings.

IRT's Path to the November 10 Vote

Independence Realty Trust reported third-quarter core FFO of $0.29 per share, matching FactSet estimates, and guided 2026 core FFO to a range of $1.13 to $1.15, MarketScreener reported in November 2026. The company declared a third-quarter 2026 dividend of $0.18 per share, payable on October 23, 2026 to shareholders of record on September 30, 2026, Stock Titan reported in September 2026. Congress Asset Management Co. increased its stake in Independence Realty Trust by 21.4% in the third quarter, holding 1,216,370 shares worth $17.67 million, Defense World reported in October 2026.