Independence Realty Trust (IRT) and Centerspace (CSR) have signed a definitive merger agreement. This all-stock transaction creates a combined company with an enterprise value of approximately $8.1 billion. The merger of equals establishes a leading multifamily REIT focused on non-gateway U.S. markets.
The combined entity will operate under the Independence Realty Trust name. It will continue trading on the NYSE under the ticker IRT. The new board will include nine directors from IRT. Two additional directors will join from Centerspace. Corporate headquarters will remain in Philadelphia.
The strategic combination aims to enhance scale, diversification, and operational efficiencies. The merger unites two complementary portfolios to expand the company's footprint in growth markets. The companies will hold a joint investor conference call on September 9, 2026.