Independence Realty Trust’s $350 Million Credit Facility


Shearman & Sterling advised Citibank, N.A. and KeyBank National Association acting as joint lead arrangers on the deal

Independence Realty Operating Partnership – the operating partnership of Independence Realty Trust, a REIT that owns and manages apartment communities primarily in the Southeast and Midwest of the United States – secured a $350 Million senior unsecured revolving credit facility from Citibank, N.A. and KeyBank National Association.

The amended and restated credit agreement increases the size of IRT’s revolving credit facility by $50 million, extends maturities by two years to May 2023 and lowers borrowing costs.

Shearman & Sterling advised Citibank, N.A. and KeyBank National Association acting as joint lead arrangers on the deal with a team including Malcolm K. Montgomery (Picture) and Horton D. McKinney.

Involved fees earner: Horton McKinney – Shearman & Sterling; Malcolm Montgomery – Shearman & Sterling;

Law Firms: Shearman & Sterling;

Clients: Citibank; Keybank National Association;