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  "documentTitle": "Independence Realty Trust | Investor Presentation Deck | 55 slides",
  "authorId": "independence-realty-trust",
  "authorName": "Independence Realty Trust",
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  "sourceTypeLabel": "Investor relations",
  "presentationDate": "2024-09-01 00:00:00",
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      "kind": "chart",
      "text": "Purchase Price $48.0, Invested Capital $7.1, Value Created $20.4, Total Value $75.5",
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      "text": "Achieved outsized value creation\nPost renovation community is valued at $75.5mm(1), representing an increase of 57% from acquisition\nIncremental value creation of $20.4mm, after renovation investment. On an equivalent cap rate basis, incremental value creation represents a 43% increase from acquisition.\nEnhanced resident profile, resulting in a 63% average effective monthly rental rate increase as of June 2024\nGenerated unlevered ROI of 33% on total renovation costs",
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      "text": "Note: Dollars in millions except average monthly rental rate.\n(1) Assumes exit cap rate of 5.0%",
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      "text": "At Acquisition (7/11/2019) 6/30/2024 Change Revenue (TTM) $4.2mm $6.2mm +46% NOI (TTM) $2.6mm $4.0mm +53% NOI Margin 61.1% 64.0% +290 bps Average Effective Monthly Rent $1,256 $2,048 +63%",
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