At the MSA level, the acquisition would put IRT into 25 unique MSAs, up from 16. Moreover the acquisition of TSRE increases IRT's exposure to North Carolina by almost a multiple of 5, IRT's presence Georgia increases almost 3 times and similarly in Texas and Tennessee. With the addition of TSRE's communities, IRT will own properties in 18 states. Through its acquisition of TSRE, IRT will now have exposure to South Carolina, Florida and Alabama. Geography of the IRT Acquisition of TSRE:Ī quick look at the map above shows the IRT's acquisition of TSRE will expand or deepen its exposure to several states, mainly in the Deep South. Does IRT's acquisition of TSRE's properties add locations to IRT's overall portfolio that provide more favorable demographics and improve the demographic profile of IRT (Part 2)? What does the geography of IRT's portfolio look like before and after the acquisition (Part 1)? Following this methodology we should be able to answer questions like:
Tsre 5 zip#
We then conducted GIS analysis to understand the geography of the merger and also enriched the data with important demographics for zip codes where each REIT owns a property to determine if the merger creates a significant change to the demographic makeup of IRT's portfolio.
Our data provides the exact locations of each property owned by IRT or TSRE respectively at the time of the announced merger. We combined the two companies using the data found in our Q12015 IRT and Q12015 TSRE data products. According to IRT's official release, its acquisition of TSRE would, "creat a leading, regional market focused, multifamily REIT". On May 11th, 2015 Independence Realty Trust (IRT) announced a merger agreement to acquire TradeStreet Residential (TSRE).
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