INDEPENDENCE REALTY TRUST INC
For the period ended Dec 31, 2024. Filed Feb 18, 2025.
View on SEC.govAbout this filing
A company's yearly report to the SEC, with audited financial statements. It is the fullest account a company gives of its business, its finances and the risks it sees.
FY2024 · Filed Feb 18, 2025
Extracted filing text, with the paragraph anchors used by the comparison.
See the whole filing, with its images and exhibitsContents
Item 2. Properties
We hold fee title to all of the multifamily properties in our portfolio (other than four properties owned by unconsolidated joint ventures in which we hold interests and one development property). The following table presents an overview of our consolidated portfolio as of December 31, 2024:
| Market | Property Count | Units (a) | Gross Cost | Accumulated Depreciation | Net Book Value | Period End Occupancy (b) | Average Occupancy (c) | Average Effective Rent per Occupied Unit (d) |
|---|---|---|---|---|---|---|---|---|
| Atlanta, GA | 13 | 5,180 | $1,107,680 | $(124,992) | $982,688 | 93.8% | 93.8% | $1,599 |
| Austin, TX | 1 | 256 | 60,302 | (6,152) | 54,150 | 96.5% | 96.5% | 1,791 |
| Birmingham, AL | 1 | 720 | 122,694 | (12,582) | 110,112 | 96.1% | 96.1% | 1,425 |
| Charleston, SC | 2 | 518 | 82,210 | (17,489) | 64,721 | 95.7% | 95.7% | 1,739 |
| Charlotte, NC | 4 | 1,014 | 262,601 | (19,508) | 243,093 | 93.6% | 93.6% | 1,562 |
| Cincinnati, OH | 2 | 542 | 124,877 | (10,806) | 114,071 | 96.8% | 96.8% | 1,624 |
| Columbus, OH | 10 | 2,510 | 380,928 | (53,930) | 326,998 | 95.6% | 95.6% | 1,511 |
| Dallas, TX | 14 | 4,007 | 880,188 | (93,128) | 787,060 | 96.5% | 96.5% | 1,809 |
| Denver, CO | 7 | 1,722 | 495,388 | (38,339) | 457,049 | 95.0% | 95.0% | 1,775 |
| Greenville, SC | 1 | 702 | 126,274 | (11,283) | 114,991 | 92.8% | 92.8% | 1,290 |
| Houston, TX | 5 | 1,308 | 214,977 | (18,267) | 196,710 | 96.6% | 96.6% | 1,432 |
| Huntsville, AL | 4 | 1,051 | 241,595 | (20,027) | 221,568 | 95.7% | 95.7% | 1,456 |
| Indianapolis, IN | 7 | 1,979 | 294,522 | (36,802) | 257,720 | 95.3% | 95.3% | 1,435 |
| Lexington, KY | 3 | 886 | 163,697 | (14,278) | 149,419 | 96.8% | 96.8% | 1,408 |
| Louisville, KY | 4 | 1,150 | 143,283 | (35,057) | 108,226 | 96.8% | 96.8% | 1,330 |
| Memphis, TN | 4 | 1,383 | 160,408 | (42,175) | 118,233 | 94.7% | 94.7% | 1,495 |
| Myrtle Beach, SC - Wilmington, NC | 3 | 628 | 68,341 | (13,111) | 55,230 | 94.3% | 94.3% | 1,396 |
| Nashville, TN | 5 | 1,508 | 375,025 | (32,435) | 342,590 | 96.0% | 96.0% | 1,627 |
| Oklahoma City, OK | 8 | 2,147 | 337,446 | (42,305) | 295,141 | 96.3% | 96.3% | 1,228 |
| Orlando, FL | 2 | 617 | 132,879 | (11,243) | 121,636 | 94.0% | 94.0% | 1,840 |
| Raleigh - Durham, NC | 6 | 1,690 | 254,625 | (50,440) | 204,185 | 94.2% | 94.2% | 1,553 |
| San Antonio, TX | 1 | 306 | 57,527 | (5,107) | 52,420 | 98.0% | 98.0% | 1,444 |
| Tampa-St. Petersburg, FL | 6 | 1,791 | 399,163 | (44,083) | 355,080 | 96.1% | 96.1% | 1,963 |
| TOTAL | 113 | 33,615 | $6,486,630 | $(753,539) | $5,733,091 | 95.4% | 95.4% | $1,572 |
(a)Units represent the total number of units available for rent at December 31, 2024.
(b)Period end occupancy for each of our properties is calculated as (i) total units rented as of December 31, 2024 divided by (ii) total units available for rent as of December 31, 2024, expressed as a percentage.
(c)Average occupancy represents the daily average occupancy of available units for the three-month period ended December 31, 2024.
(d)Average effective monthly rent, per unit, represents the average monthly rent for all occupied units for the three-month period ended December 31, 2024.
Additional information on our consolidated properties is contained in “Schedule III - Real Estate and Accumulated Depreciation” in this Annual Report on Form 10-K, which is incorporated herein by reference.
The text of this filing, as the company filed it with the SEC, without its images or exhibits. This is not investment advice.