- Independence Reality Trust completed its merger with Steadfast REIT, a private REIT, on 16 December 2021.
- A major rationale for the merger is the two REITs share complementary portfolios.
- Through its acquisition of Steadfast REIT, IRT "doubled down" on its business model and after a slow start, investors propelled the REIT to new all-time highs.
- The stock price, like most other REITs, has not been immune to the recent market downturn. Regardless of recent price action, the logic of the merger remains solid.
For further details see:
Doubling Down: Independence Realty Sees Itself In Steadfast Merger