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Independence Realty closes $228M multifamily apartment portfolio purchase

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Independence Realty closes $228M multifamily apartment portfolio purchase

Independence Realty Trust Inc. wrapped up its purchase of a multifamily apartment portfolio for $228.1 million.

The company closed the remaining five office assets in the nine-property portfolio, which consists of 2,352 total units, in the 2017 fourth quarter.

In addition, the multifamily residential real estate investment trust netted roughly $11.9 million from the issue of 1,164,900 ordinary shares during the fourth quarter of 2017 under its at-the-market offering program.