Centerspace to Merge with Independence Realty Trust in $8.1B All-Stock Deal
CSR is trading near its 52-week low of $52 (3.1% above the low).
Summary
Centerspace agreed to be acquired by Independence Realty Trust in an all-stock merger valued at $8.1 billion including debt. CSR shareholders will receive 3.8 IRT shares per CSR share, implying a 22% ownership stake in the combined company. The deal creates a middle-market apartment REIT with a pro forma equity market cap of about $5 billion and a Sunbelt/Midwest/Mountain West footprint. This follows Centerspace's recent portfolio optimization and guidance cut; the merger provides scale and diversification. Closing is expected as early as end of Q4 2026.
At the time of this announcement, CSR was trading at $53.59 on NYSE in the Real Estate & Construction sector, with a market capitalization of approximately $885.2M. The 52-week trading range was $52.00 to $69.61. This news item was assessed with neutral market sentiment and an importance score of 9 out of 10. Source: Dow Jones Newswires.