Multifamily REIT launches with eye on $1B offering

06/14/2011 | CityBizList.com

The Securities and Exchange Commission has declared Independence Realty Trust's registration statement effective. The new multifamily REIT is offering $1 billion in shares of its common stock in its primary offering. In addition, it is offering up to $95 million in common stock in its distribution reinvestment program. It is launching with six multifamily properties contributed by its sponsor, RAIT Financial Trust.

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