PHILADELPHIA--(BUSINESS WIRE)--Independence Realty Trust, Inc. (NYSE MKT: IRT) (“IRT”) today announced that on May 5, 2016 IRT sold a 360 unit apartment property located in Phoenix, Arizona for $47.0 million. IRT received net cash proceeds of approximately $18.4 million, after transaction costs and full repayment of the debt underlying the property. The property, built in 1999 and renovated in 2006, generated $2.4 million of net operating income over the 12 months preceding the sale. IRT will u
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