Transformational all-stock merger creates major valuation, governance and strategic inflection with substantial execution risk

Key Facts

• On September 8, 2026, Centerspace entered into an Agreement and Plan of Merger with Independence Realty Trust, Independence Realty Operating Partnership, IROP Merger Sub and Centerspace, LP, under which IRT would acquire Centerspace in an all-stock transaction; the boards of both companies unanimously approved the agreement and related transactions.
• If the merger closes, each outstanding Centerspace common share, other than specified excluded shares, will be converted into the right to receive 3.8 shares of IRT common stock, subject to adjustment under the merger agreement, with cash paid for fractional shares.
• The transaction is expected to close as early as the end of the fourth quarter of 2026, subject to approval by IRT stockholders and Centerspace shareholders, lender-consent timing and other customary closing conditions.

Source

View the source SEC filing