$IRT

Independence Realty Trust (IRT) faces opposition from activist investor Irenic Capital, which owns 2% of IRT, over its planned merger with Centerspace. Irenic argues the merger would weaken IRT, issuing shares below fair value, and prefers IRT sell itself for $18-$20 per share. IRT shares traded at $14.75, down 8% since the merger announcement. The combined REIT would have 44,000 units and an $8.1B enterprise valuation.

INDEPENDENCE REALTY TRUST, INC. (IRT) filed an SEC Form 8-K — Regulation FD Disclosure. Exhibit 99.1

CENTERSPACE (CSR) filed an SEC Form 8-K — Entry into a Material Definitive Agreement. Item 1.01 Entry into a Material Definitive Agreement. As previously disclosed, on September 8, 2026, Centerspace, a North Dakota real estate investment trust (“Centerspace” or the “Company”), entered into an Agreement and Plan of Merger (the “Original Merger Agreement”) with Inde

INDEPENDENCE REALTY TRUST, INC. (IRT) filed an SEC Form 8-K — Entry into a Material Definitive Agreement. Item 1.01. Entry into a Material Definitive Agreement As previously disclosed, on September 8, 2026, Independence Realty Trust, Inc., a Maryland corporation (“ IRT ”), Independence Realty Operating Partnership, LP, a Delaware limited partnership and a subsidiary of IRT (“ IRT OP

Independence Realty Trust (IRT) and Centerspace agreed to an all-stock merger, creating an $8.1B apartment landlord with 44,354 units. IRT will issue 67.6M shares, with existing IRT shareholders owning 78% of the combined company. The deal, expected to close by Q4 2026, aims to increase IRT's 2027 Core FFO per share by 5% and expand its market capitalization by 28% to $5B. IRT will lead the combined company, retaining its name and ticker (IRT).

Independence Realty Trust (NYSE: IRT) declared an 18-cent-per-share dividend for Q3 2026, payable Oct. 23 to shareholders of record Sept. 30. The REIT focuses on multifamily properties in non-gateway U.S. markets, aiming for returns through distributions and capital appreciation.

Centerspace (CSR) is merging with Independence Realty Trust (IRT) in an $8.1B deal, expected to close in Q4 2026. The merger creates a middle-market multifamily REIT. Hunton Andrews Kurth LLP served as REIT tax counsel for Centerspace.

Independence Realty Trust (IRT) is merging with Centerspace in an all-stock deal, creating an $8.1B apartment company. IRT shareholders will own 78% of the new entity, which will retain the IRT name, ticker, and headquarters. The combined company will manage 44,000 units across 17 states, expanding IRT's footprint. IRT CEO Scott Schaeffer sees the deal as a strategic growth move, adding geographic diversity.

Independence Realty Trust (IRT) is merging with Centerspace in an $8.1 billion all-stock deal, affirming a $0.18 quarterly dividend. IRT's shares have declined 10% in three months and 14% year-to-date. Analysts debate its valuation, with some seeing it as 20.6% undervalued at $19.14 per share, while others note its high P/E ratio of 82.2x.

Centerspace (CSR) closed at $58.29, 0.98% above the implied value of $57.72 from its merger with Independence Realty Trust (IRT) at $15.19. The premium is partly due to dividend differences, but mostly market positioning and IRT's future performance. The merger, valued at $8.1 billion, is expected to close by Q4, pending shareholder approval and other conditions.