AVENTURA, Fla., Sept. 3, 2015 (GLOBE NEWSWIRE) -- Trade Street Residential, Inc. (NASDAQ:TSRE) (the "Company"), a vertically integrated and self-managed real estate investment trust ("REIT") focused on acquiring, owning, operating and managing high-quality, conveniently located, apartment communities in mid-sized cities and suburban submarkets of larger cities primarily in the southeastern United States and Texas, today announced that its Board of Directors has declared a pro-rated third quarter cash dividend of $0.082 per share and unit, payable to holders of record of common stock and common units of the operating partnership. The dividend will be payable to stockholders and unitholders of record as of September 7, 2015 and will be paid on the closing date of the previously announced merger between the Company and Independence Realty Trust, Inc. ("IRT"), which is expected to occur on September 17, 2015.
The pro-rated dividend declaration is contingent upon the completion of the merger.
About Trade Street Residential, Inc.
Trade Street Residential, Inc. is a vertically integrated and self-managed real estate investment trust focused on acquiring, owning, operating and managing conveniently located, garden-style and mid-rise apartment communities in mid-sized cities and suburban submarkets of larger cities primarily in the southeastern United States and Texas.
This press release contains forward-looking statements within the meaning of the federal securities laws, which are based on current expectations, forecasts and assumptions that involve risks and uncertainties that could cause actual outcomes and results to differ materially. Forward looking statements relate to expectations, beliefs, projections, future plans and strategies, anticipated events or trends and similar expressions concerning matters that are not historical facts. In some cases, you can identify forward-looking statements by the use of forward-looking terminology such as "may," "will," "should," "expects," "intends," "plans," "anticipates," "believes," "estimates," "predicts," or "potential" or the negative of these words and phrases or similar words or phrases, which are predictions of or indicate future events or trends and which do not relate solely to historical matters. Examples of such forward-looking statements include, but are not limited to, statements relating to the timing and completion of Company's merger with IRT, including the proposed dividend in connection therewith. While forward-looking statements reflect the Company's good faith beliefs, assumptions and expectations, they are not guarantees of future performance. Furthermore, the Company disclaims any obligation to publicly update or revise any forward-looking statement to reflect changes in underlying assumptions or factors, of new information, data or methods, future events or other changes, except as may be required by law. For a further discussion of these and other factors that could impact the Company's future results, performance or transactions, see the section entitled "Risk Factors" in the Company's Annual Report on Form 10-K for the year ended December 31, 2014, which the Company filed with the Securities and Exchange Commission (the "SEC") on March 13, 2015, and in other filings with the SEC.
CONTACT: Investor Relations: Stephen Swett 786-248-6099 firstname.lastname@example.org Media Contact: Jason Chudoba, ICR for Trade Street 646-277-1249 Jason.Chudoba@icrinc.comSource:Trade Street Residential, Inc.