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  "documentTitle": "Independence Realty Trust | Investor Presentation Deck | 45 slides",
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  "authorName": "Independence Realty Trust",
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      "text": "INDEPENDENCE REALTY TRUST",
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      "text": "Exiting 5 markets where we have a single-asset exposure\nReduces exposure in 2 other markets\nReduce average age of the properties in our portfolio by ~1 year\nReduce near-term debt maturities (2024-2026) by ~$270 million",
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      "text": "Target sales of 10 properties (~2,750 units) in 7 markets; 9 acquired as part of the STAR merger\nAsset sales to generate gross sales proceeds of ~$521 to $533 million\nWeighted average economic cap rate of approximately 5.9%\nProceeds used to immediately delever our balance sheet",
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      "text": "Reduce net debt to adjusted EBITDA ratio by 0.8x to 0.9x\nDilutive to Core FFO per share by $0.02-$0.03\nAfter the effect of annual capex, expect to be breakeven on a free cash flow basis\nIncreases our unencumbered asset pool and reduces near-term debt maturities\nBetter positions IRT for an investment grade rating",
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      "text": "Impact on Financial Profile",
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      "text": "Portfolio Optimization: Reducing Our Presence in Non-Core Markets",
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