Centerspace (NYSE: CSR) announced that its shareholders approved the previously announced merger with Independence Realty Trust, Inc. (NYSE: IRT) at a special meeting held on November 10, 2026. The merger, originally agreed upon on September 8, 2026, involves Centerspace merging with IRT and its subsidiaries. Following the transaction, Centerspace shareholders will receive 3.800 shares of IRT common stock for each share of Centerspace common stock owned, subject to certain adjustments, with cash paid in lieu of fractional shares.
At the special meeting, a total of 13,576,273 Centerspace Common Shares were represented in person or by proxy. The results of the shareholder vote were as follows:
- Proposal 1 (Merger Agreement): 13,524,885 votes in favor, 38,541 against, and 12,847 abstentions.
- Proposal 2 (Executive Compensation): 12,933,197 votes in favor, 612,265 against, and 30,811 abstentions.
Approximately 99.6% of the votes cast at the Centerspace meeting, representing 80.4% of the outstanding common shares, voted in favor of the merger. IRT stockholders also approved the issuance of IRT common stock in connection with the merger, with approximately 88.1% of the votes cast in favor.
The transaction remains subject to the satisfaction of remaining closing conditions. IRT has the right to defer the closing until the earliest of the tenth business day after certain mortgage loan consents are granted or the tenth business day before June 30, 2027.
