Independence Realty Trust Announces Completion of Shared Services Period with RAIT Financial Trust
June 20 2017 - 5:00PM
Business Wire
Independence Realty Trust, Inc. (NYSE MKT: IRT) (“IRT”) today
announced it has completed its use of shared services previously
provided by RAIT Financial Trust (“RAIT”) and has fully completed
its previously disclosed management internalization. As announced
on December 20, 2016, IRT entered a shared service agreement in
which RAIT provided IRT certain transitional services such as
information technology, human resources, insurance, investor
relations, legal, tax and accounting for a transition period after
the closing.
“The completion of our shared services agreement with RAIT marks
a significant milestone for IRT as it solidifies our position as a
leading internally-managed owner and operator of high-quality
multifamily properties across attractive non-gateway markets,” said
Scott F. Schaeffer, IRT’s Chairman and Chief Executive Officer.
“The shared service agreement has been instrumental in ensuring a
seamless and cost-effective transition and we want to thank RAIT
for its help through this process.”
About Independence Realty Trust, Inc.
Independence Realty Trust, Inc. (NYSE MKT: IRT) is an
internally-managed real estate investment trust that seeks to own
well-located apartment properties in geographic submarkets that it
believes support strong occupancy and the potential for growth in
rental rates. IRT seeks to provide stockholders with attractive
risk-adjusted returns, with an emphasis on distributions and
capital appreciation.
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New Corporate HeadquartersTwo Liberty Place50 S. 16th
Street, Suite 3575Philadelphia, PA 19102267-270-4800Independence
Realty Trust, Inc. ContactsTed McHugh and Lauren TarolaEdelman
Financial Communications & Capital MarketsPhone:
212-277-4322Email: IRT@edelman.com
Independence Realty (NYSE:IRT)
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