Independence Realty Trust Announces Private Placement of $150 Million in Unsecured Notes

Independence Realty Trust, Inc. (NYSE: IRT) (“IRT”) today announced that it has agreed to sell $150 million aggregate principal amount of unsecured notes (the “Notes”), consisting of $75 million aggregate principal amount of unsecured notes due 2031 and $75 million aggregate principal amount of unsecured notes due 2034, to an institutional investor in a private placement at fixed annual interest rates of 5.32% and 5.53%, respectively.

IRT expects the financing of the notes to occur in the fourth quarter of 2024, subject to customary closing conditions, and intends to use the entire net proceeds to repay the mortgage debt maturing in 2025 and the loans remaining outstanding under the revolving credit facility.