Independence Realty Trust to buy Centerspace for $1.02 billion; shares fall
09/09/2026 12:14
BUZZ-Independence Realty Trust to buy Centerspace for $1.02 billion; shares fall ** Shares of Independence Realty Trust IRT.N down 1.1% at $15.7 premarket
** Co says it will buy Centerspace CSR.N in an all-stock deal that values the smaller rival at ~$1.02 billion, as the REIT seeks to expand its residential portfolio
** The deal is expected to close by the end of the fourth quarter of 2026
** CSR's shares rise ~5% to $55 in premarket trading
** As of last close, IRT down 9% and CSR down ~21% YTD
(Reporting by Megavarshini G. Somasundaram in Bengaluru)
((Megavarshini.SomasundaramGnanasundari@thomsonreuters.com))