Form 8937. Upload a file Maximum size: 18MB.Allowed file types: .jpg, .jpeg, .png, .gif, .pdf, .txt, .csv, .xls, .xlsx, .doc, .docx. PHILADELPHIA & IRVINE, Calif.-- (BUSINESS WIRE)-- Independence Realty Trust, Inc. (NYSE: IRT) ("IRT") and Steadfast Apartment REIT, Inc. ("STAR") today announced that they have entered into a definitive merger agreement under which STAR will merge with and into IRT, with IRT surviving as the continuing public company. Our future is bright as we unite two high-quality portfolios in attractive non-gateway markets, and look to strengthen and expand our business, while delivering long-term value for our stakeholders.. IRT Living is a publicly traded real estate investment trust (REIT) which owns and manages 123 commu Explore. 0% increase); You must repay at least 50% of your outstanding rental balance before the new lease is signed; The remainder of your outstanding rental balance will be paid in equal amounts over the new . Additional information regarding the participants in the proxy solicitations and a description of their direct and indirect interests, by security holdings or otherwise, will be contained in the joint proxy statement/prospectus and other relevant materials to be filed with the SEC when they become available. Properties are added into the same-store portfolio if they were owned at the beginning of the previous year. The forward-looking statements made in this communication are made only as of the date hereof or as of the dates indicated in the forward-looking statements, even if they are subsequently made available by IRT or STAR on their respective websites or otherwise. Please refer to the documents filed by us with the SEC, including specifically the Risk Factors sections of our Annual Report on Form 10-K for the year ended December 31, 2021, and our other filings with the SEC, which identify additional factors that could cause actual results to differ from those contained in forward-looking statements. View and compare all 118 communities managed by IRT Management, LLC. Service 3.8. PHILADELPHIA & IRVINE, Calif.-- (BUSINESS WIRE)-- Independence Realty Trust, Inc. (NYSE: IRT) ("IRT") and Steadfast Apartment REIT, Inc. ("STAR") today announced the completion of the merger transaction between the two companies, forming a combined company with an equity market capitalization of approximately $5.6 billion and a total enterprise . Farrell Ender continues to serve as President of the combined company. We understand Coronavirus (COVID-19) has directly affected many of our residents. Includes indebtedness associated with real estate held for sale. Edelman Financial Communications & Capital Markets Independence Realty Trust Careers and Employment | Indeed.com into your new apartment home with IRT. Real Estate Matters: Homeowner transfers financial assets to living The proposed merger will create a portfolio of 131 multifamily apartment properties comprising approximately 38,000 units in urban and suburban locations in Georgia, North Carolina, Tennessee, Kentucky, Ohio, Oklahoma, Indiana, Texas, Florida, South Carolina, Missouri, Alabama, Colorado, Kansas, Illinois, and Virginia. Under the terms of the merger agreement, each STAR common share will be converted into 0.905 shares of newly issued IRT common stock, including cash in lieu of fractional shares. Independence Realty Trust, Inc. (NYSE: IRT) is a real estate investment trust that owns and operates multifamily communities, across non-gateway U.S. markets including Atlanta, GA, Dallas, TX, Denver, CO, Columbus, OH, Indianapolis, IN, Oklahoma City, OK, Raleigh-Durham, NC, Houston, TX, Nashville, TN, and Memphis, TN. 917-365-7979 We undertake no obligation to update these forward-looking statements to reflect events or circumstances after the date hereof or to reflect the occurrence of unanticipated events, except as may be required by law. (Uploaded below.). We strive to be the most admired, trusted and respected provider of apartment communities, by offering an unparalleled living experience for our residents and a world class environment for our employees. We strive to be the most admired, trusted and respected provider of apartment communities, by offering an unparalleled living experience for our residents and a world class environment for our employees. At IRT Living, we know that a home is more than just the place you stay. Creates a leading public multifamily REIT focused on the high-growth U.S. Sunbelt region; combined company will own approximately 38,000 apartment units across 131 communities, Creates a top 3 publicly traded multifamily REIT focused on the Sunbelt region, Merger will join together two high-quality portfolios in attractive non-gateway markets demonstrating outsized growth fundamentals, Enhances opportunity to execute proven value-add program and unlock value across combined portfolio, Increased scale and operational efficiencies expected to generate approximately $28 million in annual synergies, Expected to be immediately accretive to key earnings metrics. The transaction was previously approved by both companies stockholders at their respective special meetings held on December 13, 2021. The supplemental information is available via our website, www.irtliving.com, through the "Investor Relations" section. Irving Property Management - DFW Property Management.com In order to reconcile Combined Same-Store NOI to net income for periods prior to our December 16, 2021 merger with STAR, our reconciliation excludes NOI generated by the STAR Portfolio because IRT did not own these properties prior to December 16, 2021. This company is headquartered in Philadelphia, Pennsylvania. At IRT Living, we know that a home is more than just the place you stay. Independence Realty Trust and Steadfast Apartment REIT - IRT Living Real estate tax and insurance expense growth, General and administrative & Property management expenses. Ella S. Neyland, formerly STARs President, Chief Financial Officer and Treasurer, joined the combined company as its Chief Operating Officer. While at Internacional, Zebby has assisted in closing over 1,000 multifamily units. IRT - Independence Realty Trust, Inc. - Yahoo Finance Barclays is acting as lead financial advisor and BMO Capital Markets is acting as financial advisor, and Troutman Pepper Hamilton Sanders LLP is acting as legal advisor to IRT. STAR is a non-traded public real estate investment trust that was formed to acquire and operate a diverse portfolio of well-positioned, institutional-quality apartment communities in targeted markets throughout the United States that have demonstrated high occupancy and income levels across market cycles. Jessica Norman, currently IRTs Executive Vice President and General Counsel, will serve as Chief Legal Officer of the combined company. Working at Independence Realty Trust | Glassdoor Worth, Denver, Oklahoma City, Louisville, Columbus, Indianapolis, Raleigh-Durham, Houston, and Memphis. The acquisition represents the exercise of our purchase option under the terms of the joint venture agreement entered into on September 3, 2021. These forward-looking statements include, without limitation, our expectations with respect to our operating performance and financial results, including our 2022 earnings guidance, timing and amount of future dividends, timing and terms of property acquisitions, dispositions, joint venture investments, developments and redevelopments and other capital expenditures, timing and terms of capital raising and other financing activity, lease pricing, revenue and expense growth, occupancy levels, supply levels, job growth, interest rates and other economic expectations, and anticipated benefits of our recently completed merger (the STAR Merger) with Steadfast Apartment REIT, Inc. (STAR), including as to the amount of synergies from the STAR Merger. This communication relates to a proposed merger transaction pursuant to the terms of the Agreement and Plan of Merger dated as of July 26, 2021, among IRT, STAR and the other parties thereto. We strive to be the most admired, trusted and respected provider of apartment communities, by offering an unparalleled living experience for our residents and a world class environment for our employees. Are, https://www.businesswire.com/news/home/20210726005755/en/. 949-427-1385 Edelman Financial Communications & Capital Markets Let us take the guesswork out of securing your new dream apartment. In the fourth quarter of 2021, five assets were sold, two from the legacy IRT portfolio and three from STAR, while the remaining four legacy IRT assets are expected to be disposed of during the first quarter of 2022. The combined companys ten largest markets by unit count would be Atlanta, Dallas/Ft. Actual results could vary significantly from the projections presented. We strive to be the most admired, trusted and respected provider of apartment communities, by offering an unparalleled living experience for our residents and a world class environment for our employees. IRTs investment strategy is focused on gaining scale within key amenity rich submarkets that offer good school districts, high-quality retail and major employment centers. We raised our 2022 full year guidance. Independence Realty Trust, Inc. (NYSE: IRT) is a real estate investment trust that owns and operates multifamily apartment properties across non-gateway U.S. markets, including Atlanta, Louisville, Memphis, and Raleigh. Get to know us! This guidance, including the underlying assumptions presented in the table below, constitutes forward-looking information. Format. Total Gross Assets equals total assets plus accumulated depreciation and accumulated amortization, including fully depreciated or amortized real estate and real estate related assets. 12 Reviews Jobs Salaries 16 Q&A Interviews Photos IRT Living Careers and Employment Work wellbeing Results based on 21 responses to Indeed's work wellbeing survey. Zebby is a member of Internacional's acquisition team, assisting in all aspects of INT's acquisition efforts. Shops, restaurant and fast food are within walking distance. Value add program for the quarter ended June 30, 2022, has completed renovations at 195 units, achieving a weighted average return on investment during the quarter of 34.6%. Independence Realty Trust to Present at Citi's 2022 - IRT Living Rent will be at the same rate as your current rent (i.e. We review our same-store portfolio at the beginning of each calendar year. Such forward-looking statements can generally be identified by our use of forward-looking terminology such as will, strategy, expects, seeks, believes, potential, or other similar words. Lease Over Lease Effective Rental Rate Growth:(3). View source version on businesswire.com: Let us find you a community that James at Goose CreekStonebridge CrossingTalison Row at Daniel IslandThe Adley Craig RanchThe ChelseaThe Commons at Canal WinchesterThe Village at AuburnThornhillTides at CalabashTrails of Signal MountainVantage on HillsboroughVue at Knoll TrailWalnut HillWaterford LandingWaterstone at Big CreekWaterstone at Brier CreekWestmont CommonsWindrush, Please upload the following documents as part of your application. Farrell Ender will continue to serve as President of the combined company. Having the worst situation with a property this company owns out of Dallas Texas. Gains on sale of real estate assets include the four asset sales that occurred during the first quarter of 2022 and the two properties identified as held for sale as of June 30, 2022. Such forward-looking statements include, but are not limited to certain actions to be taken by IRT and STAR in connection with the closing of the merger and anticipated benefits of the merger. Customer Services & Support Based on 24 salaries Customer Service Representative 13 salaries Customer Service Agent 4 salaries View More Marketing This dividend was paid on July 22, 2022 to stockholders of record at the close of business on July 1, 2022. Get to know us! We expect to physically settle the forward sale transaction by the maturity date (March 31, 2023) of the forward sale transaction. Independence Realty Trust (NYSE: IRT) is a real estate investment trust that owns and operates multifamily apartment properties across non-gateway U.S. markets, including Atlanta, Dallas, Louisville, Memphis, Raleigh and Tampa. Assuming the forward sale transaction is physically settled in full utilizing the current forward sale price of $26.22 per share, we expect to receive proceeds, net of sales commissions, of approximately $26.2 million, subject to adjustment in accordance with the forward sale transaction. During this visit, be prepared to pay your deposit, provide a copy of your ID (s), proof of rental insurance, and verification of utilities. These statements are not guarantees of future performance and involve certain risks, uncertainties and assumptions that are difficult to predict. IRT Living Includes accumulated depreciation associated with real estate held for sale. Investors and security holders will be able to obtain free copies of these documents (if and when available) and other documents filed with the SEC by IRT and/or STAR through the website maintained by the SEC at http://www.sec.gov. In addition, these forward-looking statements are subject to assumptions with respect to future business strategies and decisions that are subject to change. At IRT Living, we know that what a home is more than just the place you stay. This strategic transaction was unanimously approved by the Board of Directors of IRT and the Board of Directors of STAR. The table below summarizes operating metrics for the combined same-store portfolio for the applicable periods. This press release features multimedia. The motorway is just a 5-minute drive away. INVESTORS AND SECURITY HOLDERS OF IRT AND STAR ARE URGED TO READ THE JOINT PROXY STATEMENT/PROSPECTUS AND OTHER RELEVANT DOCUMENTS FILED WITH THE SEC IF AND WHEN THEY BECOME AVAILABLE BECAUSE THEY WILL CONTAIN IMPORTANT INFORMATION. STAR Same-Store Portfolio represents the 65 properties that STAR owned and consolidated as of January 1, 2021 and that, following the consummation of the Merger on December 16, 2021, continued to be owned and consolidated by IRT through June 30, 2022 (other than properties held for sale as of June 30, 2022).