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Apartment REIT Independence Realty files for a $50 million IPO

By: Renaissance Capital
Posted: 5/14/2013 8:56:00 AM
Referenced Stocks: IRT

Independence Realty Trust, a REIT that owns eight apartment properties, filed on Tuesday with the SEC to raise up to $50 million in an initial public offering. The Philadelphia, PA-based company, which was founded in 2009 and booked $16 million in revenue for the 12 months ended March 31, 2013, plans to list on the NYSE under the symbol IRT.Ladenburg Thalmann is the sole bookrunner on the deal. No pricing terms were disclosed.