- Part of its plan to unload properties falling outside of its geographic focus, Independence Realty Trust (NYSE:IRT) sells a 320-unit complex in Tucson for $33.6M. The company received net cash proceeds of roughly $14.2M after paying off the debt.
- Built in 1995, the property generated $1.9M of NOI over the LTM, The company will book a Q4 $6.6M gain associated with the sale.
- Source: Press Release
- IRT's manager is RAIT Financial (RAS).
Independence Realty sells Arizona apartment complex
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Symbol | Last Price | % Chg |
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IRT | - | - |
Independence Realty Trust, Inc. |