Independence Realty Trust Completes Sale of Three Additional Properties as Part of Portfolio Optimization and Deleveraging Strategy
Independence Realty Trust, Inc. (IRT)
NASDAQ:AMEX Investor Relations:
irtliving.com/page.aspx/contentid/7/investor-relations
Company Research
Source: Business Wire
PHILADELPHIA--(BUSINESS WIRE)--Independence Realty Trust, Inc. (NYSE: IRT) (“IRT”) announced today the sale of three properties in three markets, as part of the Company’s Portfolio Optimization and Deleveraging Strategy. The total gross sales price of the three properties was $168.1 million, with each property sale closing in March 2024.In total, since the Portfolio Optimization and Deleveraging Strategy was established in October 2023, the Company has sold nine of the targeted 10 properties, generating gross sales proceeds of $496.8 million. With the proceeds from these nine sales to date, IRT repaid $488.9 million of debt, comprised of $252.5 million of property level debt associated with the sold properties and $236.4 million of borrowings outstanding on its line of credit.Once the sale of all properties under the Portfolio Optimization and Deleveraging Strategy is complete, IRT expects to generate gross sales proceeds of approximately $525.3 million with proceeds used to delev
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IRT
Earnings
- 4/24/24 - Miss
IRT
Sec Filings
- 4/24/24 - Form 8-K
- 4/19/24 - Form D/A
- 4/19/24 - Form D/A
- IRT's page on the SEC website