Centerspace filings document the formal disclosure record for a multifamily REIT that owns and operates apartment communities in the Midwest and Mountain West. Its 8-K reports furnish earnings releases and investor presentations covering FFO, Core FFO, same-store revenue and NOI, occupancy, lease-rate growth, resident retention, capitalization, and portfolio operations.
Proxy and governance filings cover annual meeting matters, trustee elections, committee service, executive compensation, pay-versus-performance data, shareholder voting, and Board of Trustees changes. The filing record also includes Regulation FD presentations, distribution-related disclosures, and risk language tied to real estate operations and forward-looking financial outlooks.
Centerspace (CSR) shareholders are being asked to approve a proposed merger with Independence Realty Trust, Inc. (IRT), while IRT stockholders vote on the related share issuance. At closing, each CSR common share outstanding immediately before the merger, except specified excluded shares, would convert into the right to receive 3.800 IRT common shares, with cash for fractional shares. The ratio may adjust for specified share changes or REIT dividends, but not market-price changes. IRT anticipates issuing approximately 64.16 million shares, based on share and unit counts as of October 2, 2026 and CSR awards estimated to settle in stock.
The combined company is expected to own 163 apartment communities with more than 44,000 units across 17 states. Based on October 2, 2026 share counts, the companies estimate legacy IRT stockholders and IROP unit holders will own approximately 78% of combined shares and units, while legacy CSR shareholders and CSR OP unit holders will own approximately 22%.
The special meetings are scheduled for November 10, 2026, and approval of both the CSR merger proposal and IRT share issuance is required. The companies expect completion as early as the end of the fourth quarter of 2026, subject to agreement conditions. Both boards unanimously recommend votes in favor of their proposals.
Centerspace (CSR) and Independence Realty Trust amended their merger agreement on September 22, 2026, and IRT elected to use the Alternative Structure for the Company Merger only. Under that structure, Centerspace would merge into IRT Merger Sub, which would survive, rather than IRT Merger Sub merging into Centerspace.
The partnership merger retains its described structure: IROP Merger Sub would merge into Centerspace, LP, which would survive as a subsidiary of IROP. The amendment also waives any representation inaccuracy caused solely by the Alternative Structure. The proposed transaction will be submitted to Centerspace shareholders and IRT stockholders for their consideration.
CENTERSPACE (CSR) and Independence Realty Trust amended their merger agreement on September 22, 2026, with IRT electing the Alternative Structure solely for the Company Merger. Under that structure, Centerspace would merge into IRT Merger Sub, which would survive; the original structure had IRT Merger Sub merge into Centerspace. The original agreement also provides for IROP Merger Sub to merge into Centerspace, LP, with Centerspace, LP surviving the Partnership Merger.
The amendment waives any representation inaccuracy caused solely by the Alternative Structure, with the waiver given by IRT, IROP and both merger subsidiaries. The proposed transaction will be submitted to Centerspace shareholders and IRT stockholders for consideration.
Centerspace amended its earlier current report solely to correct a cross-reference in the agreement for its proposed transaction with Independence Realty Trust: Section 8.03(a)(iii) refers to Section 8.01(h), rather than the incorrect Section 8.01(g).
Centerspace says the prior version of Exhibit 2.1 should be disregarded and provides the corrected agreement. The proposed transaction will be submitted to shareholders of both companies for consideration.
Centerspace (CSR) amended its prior report solely to correct a typographical error in the EDGARized merger agreement: Section 8.03(a)(iii) now refers to Section 8.01(h), replacing the incorrect reference to Section 8.01(g). The earlier Exhibit 2.1 should be disregarded, and the corrected agreement is attached. The proposed transaction with Independence Realty Trust will be submitted to Centerspace shareholders and Independence Realty Trust stockholders for consideration; Independence Realty Trust will file a Form S-4 that includes a joint proxy statement/prospectus.
Centerspace (CSR) plans to merge with Independence Realty Trust (IRT) in an all-stock transaction, creating a middle‑market multifamily REIT with a total enterprise value of about $8.1 billion and more than 44,000 apartment homes across 163 communities in 17 states. Each Centerspace share or OP unit will convert into 3.8 IRT shares/units, with the combined company owned approximately 78% by IRT shareholders and 22% by Centerspace shareholders and an equity market capitalization of roughly $5 billion.
Management targets 5% accretion to 2027 core FFO per share on a leverage‑neutral basis, supported by about $24 million of annualized synergies, mostly from G&A savings that would reduce pro forma G&A to 37 bps of assets. The combined balance sheet is expected to retain a BBB investment‑grade rating, assume about $500 million of secured debt at a 3.5% rate, repay Centerspace’s unsecured notes, and fund de‑leveraging via approximately $140 million of asset sales at a modeled 5.75% cap rate. IRT plans to maintain its $0.18 per‑share quarterly dividend, while Centerspace will pay regular $0.77 quarterly dividends until closing, then a stub dividend of $0.09 for the partial quarter.
Centerspace (CSR) describes an agreed combination with Independence Realty Trust (IRT), under which Centerspace will be acquired and its shareholders will own roughly 22% of the combined multifamily REIT. The combined platform is expected to span 163 communities and about 44,000 apartment homes across 17 states.
IRT currently owns about 33,900 homes, primarily in Sunbelt and Midwest markets, and will retain its corporate name and NYSE ticker IRT, with headquarters in Philadelphia. IRT’s leadership team will lead the combined company, and its board will expand to 11 members, including 2 from Centerspace. Closing is expected by the end of the fourth quarter of 2026, subject to customary approvals and processes detailed in a planned Form S-4 registration statement and joint proxy statement/prospectus.
Centerspace (CSR) and Independence Realty Trust agreed to an all‑stock merger that will create a middle‑market multifamily REIT with a total enterprise value of approximately $8.1 billion and more than 44,000 apartment homes across 17 states. Each Centerspace share or OP unit will convert into 3.8 IRT shares or units, with about 67.6 million IRT shares/units issued so that IRT holders own roughly 78% of the combined company and Centerspace holders about 22%. Management targets approximately $24 million in annualized cost and operating synergies, supporting an expected ~5% accretion to 2027 core FFO per share on a leverage‑neutral basis. The combined company is expected to have equity market capitalization of about $5 billion, maintain IRT’s BBB investment‑grade ratings, and de‑lever via about $140 million of asset sales at a modeled 5.75% cap rate, while keeping IRT’s $0.18 quarterly dividend. Closing is targeted as early as the end of the fourth quarter of 2026, subject to shareholder approvals, lender consents and other customary conditions.
CENTERSPACE (CSR) and Independence Realty Trust, Inc. plan to merge their businesses under the Independence Realty Trust name, creating a larger middle‑market multifamily REIT. Closing is targeted for the end of the fourth quarter of 2026, subject to shareholder approvals, lender consents and other customary conditions.
The combined company is expected to own 163 apartment communities with about 44,354 units across 17 states, with pro forma NOI concentrated in the Sunbelt, Midwest and Mountain West. Centerspace is expected to add units to IRT’s value‑add renovation and community Wi‑Fi pipelines, while existing IRT leadership will continue to lead the combined company.