Centerspace, a North Dakota real estate investment trust, has announced a modification to its previously disclosed agreement to merge with Independence Realty Trust, Inc. (IRT). The companies entered into an Amendment to the Merger Agreement on September 22, 2026, which alters the structure of the proposed transaction.
Under the original agreement, a subsidiary of IRT was to merge with and into Centerspace, with Centerspace surviving the merger. The amendment changes this structure so that Centerspace will now merge with and into IRT Merger Sub, with IRT Merger Sub surviving the transaction. This change applies solely to the Company Merger portion of the deal.
Additionally, the amendment confirms the structure of the Partnership Merger, in which the Company OP will merge with and into IROP Merger Sub, with the Company OP surviving. The amendment includes a waiver by IRT, IROP, and their respective merger subsidiaries of any representation inaccuracies caused solely by the Alternative Structure.
The proposed transaction remains subject to the approval of shareholders from both Centerspace and IRT. Investors are advised to review the registration statement on Form S-4, which will include a joint proxy statement and prospectus regarding the transaction, when it becomes available with the Securities and Exchange Commission.
