Independence Realty Trust Announces Completion of Shared Services Period with RAIT Financial Trust
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.
New Corporate Headquarters
Two Liberty Place
50 S. 16th Street, Suite 3575
Philadelphia, PA 19102
267-270-4800
Independence Realty Trust, Inc. Contacts
Ted McHugh and Lauren Tarola
Edelman Financial Communications & Capital Markets
Phone: 212-277-4322
Email: IRT@edelman.com
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