Arrowhead Plans Comeback

Arrowhead mall, Chateau Apartments Preparing to Reopen

Jill Shramm – Staff Writer – Minot Daily News

When the electronic message board at Arrowhead Shopping Center lit up again this past week, it was a sign from the mall owners that the flood didn’t get the last word.

“We are committed to restoring both Arrowhead and the Chateau Apartments to even better than their pre-flood conditions,” said Justin Fisk, director of marketing and communications for IRET Properties.

IRET reports the mall should be re-opening in early October. Although IRET still is going over lease terms with previous tenants, it is possible that most, if not all, will be back, Fisk said.

Tenants had included White Drug, Ace Hardware, the North Dakota motor vehicle and driver’s licensing divisions and a MarketPlace Foods grocery as well as other small shops, including a barber, pizza place, physical therapy and doctor’s offices.

Visitors might walk in the door and find that little has changed.

Photo by Jill Schramm/MDN •The flood shut down Arrowhead Shopping Center in June, but IRET Properties has plans to re-open the mall next month.

The current restoration aims to reproduce the look created during remodeling about five years ago. IRET is accommodating tenants who want some changes in their spaces, but the mall is otherwise going to look the same as pre-flood, said Kay Brunner, commercial properties manager.

Investors Real Estate Trust Announces Apartment Construction In Williston, North Dakota—the epicenter of the Bakken Oil Play

Minot, ND – August 16, 2011 – Investors Real Estate Trust (Nasdaq:IRET) (Nasdaq:IRETP), in partnership with Brutger Equities, is pleased to announce construction of the Williston Garden Apartment community in Williston, North Dakota. The complex will bring 145 new apartment homes to the booming city, where activity from the surrounding Bakken Oil Field has made available housing increasingly rare.

Construction on the apartment community beganin mid-August and is expected to be completed by spring 2012. Located on 42^nd St. East, Williston Garden Apartments will be comprised of four buildings, featuring one-, two-, and three-bedroom apartments. An on-site fitness facility and community building will complement the spacious, new apartments. The project is a joint venture between Brutger Equities of St. Cloud, Minnesota, who will handle daily management and leasing of the community, and Investors Real Estate Trust of Minot, North Dakota.

INVESTORS REAL ESTATE TRUST ANNOUNCES THE RELOCATION OF THE IRET CORPORATE OFFICE AND RECENT ACQUISITION AND DISPOSITION ACTIVITY

MINOT, ND – August 2, 2011 – Investors Real Estate Trust (NASDAQ:IRET) (NASDAQ: IRETP), announces its corporate headquarters in Minot, North Dakota has relocated to 1400 31st Ave SW, Suite 60, PO Box 1988, Minot, ND 58702-1988.

This move follows the previously-announced lease by Hess Corporation of approximately 48,500 square feet in the former IRET headquarters building, IRET Corporate Plaza (now renamed “Plaza 16”) at 3015 16th St SW, Minot, ND 58701.

IRET occupies approximately 22,600 square feet in its new corporate office building, with the remainder of the space occupied by Badlands Grill House & Saloon, and Space Aliens Grill & Bar. Both restaurants are owned and operated by Minot, ND based FMI.

Separately, IRET also announces its acquisition of Regency Park Apartments in St. Cloud, MN for $10.9 million. This residential property was built in 1994, is located on approximately 10.5 acres, and adds 147 units to the multi-family portfolio. The purchase price includes the assumption by IRET of existing debt on the property.

IRET has also completed the sale of its Livingston Pamida property in Livingston, MT. The sale price was $2.175 million, out of which IRET paid off the existing mortgage with American Equity in the amount of $1.183 million.

About Investors Real Estate Trust

Investors Real Estate Trust is an equity real estate investment trust. Its business consists of owning and operating income-producing multi-family residential and commercial properties located primarily in the upper Midwest. Investors Real Estate Trust is based in Minot, North Dakota, and has additional offices in Minneapolis, Minnesota and Omaha, Nebraska.

Safe Harbor

Statements about IRET’s future expectations and all other statements in this press release other than historical facts are “forward-looking statements” within the meaning of Section 27A of the Securities Act of 1933, Section 21E of the Securities Exchange Act of 1934, and as that term is defined in the Private Securities Litigation Reform Act of 1995. The Company intends that such forward-looking statements be subject to the safe harbors created thereby. Since these statements involve risks and uncertainties and are subject to change at any time, the Company’s actual results could differ materially from expected results.

Investors Real Estate Trust Announces Construction on Quarry Ridge Apartment Community

Minot, ND – July 6, 2011 – Investors Real Estate Trust (Nasdaq:IRET) (Nasdaq:IRETP) and IRET Properties announced today plans to begin construction on the final phase of Quarry Ridge Apartment Homes, a project that will add 159 new luxury apartments in Rochester, Minnesota.

Excavation for the expansion of Quarry Ridge Apartment Homes began in mid-June 2011 and is expected to be completed in approximately 14 months. IRET Properties has placed construction financing for the project with Associated Bank in Minnesota. The Quarry Ridge property, located at 1805 Quarry Ridge Place NW, sits near downtown Rochester and features numerous amenities including a pool, exercise facility, Mayo Clinic shuttle service, underground parking, and distinctive apartment floor plans.

Andy Martin, Sr. Vice President of Residential Property Management for IRET Properties commented, “We are excited to begin construction on the final phase of Quarry Ridge Apartments. Rochester is a very desirable community from both an economic and quality-of-living standpoint. These characteristics are why IRET has chosen to operate in the community for fifteen years and will expand our local presence to over 1,100 apartment homes with the completion of this project.”

A ground-breaking ceremony for the project will take place on July 14^th, at 2:00pm. Rental information regarding Quarry Ridge Apartment Homes is available at www.iretproperties.com or by calling the Leasing office at 507.289.0228.

About IRET

Investors Real Estate Trust is a self-advised equity real estate investment trust that owns and operates income-producing multi-family residential and commercial properties located primarily in the upper Midwest states of Minnesota and North Dakota. Investors Real Estate Trust is based in Minot, North Dakota, and has additional offices in Minneapolis, Minnesota and Omaha, Nebraska.

Forward-Looking Statements

The information in this press release contains “forward-looking statements” within the meaning of the Private Securities Litigation Reform Act of 1995. These statements do not relate strictly to historical or current facts, and often include words such as “anticipates,” “estimates,” “expects,” “projects,” “intends,” “plans,” “believes” and words and terms of similar substance in connection with discussions of future expectations. Examples of forward-looking statements include, but are not limited to, statements regarding the Company’s expectations about the completion of construction on announced development projects. The Company’s forward-looking statements are based on management’s current expectations and assumptions regarding the Company’s business and performance and other future conditions and forecasts of future events, circumstances and results. As with any projection or forecast, they are inherently susceptible to uncertainty and changes in circumstances. The Company’s actual results may vary materially from those expressed or implied in its forward-looking statements. Important factors that could cause the Company’s actual results to differ materially from those in its forward-looking statements include economic conditions, changes in regulation and political conditions, and other factors as discussed in the Company’s filings with the Securities and Exchange Commission.

Investors Real Estate Trust Announces 4th Quarter Fiscal 2011 Earnings Release Date and Conference Call Informati

Minot, ND – Investors Real Estate Trust (tickers: IRET and IRETP; exchange: NASDAQ Global Select Market) today announced that it plans to issue an advisory release after the close of market on Thursday, June 30, 2011, notifying the public that a financial and operating results earnings release for the year and three months ended April 30, 2011 has become accessible at the “Investor Relations” section of the Company’s website at http://www.iret.com.  The complete release, along with a Supplemental Operating and Financial Data package, will also be available directly at the following web page no earlier than 4:00 p.m. ET on Thursday, June 30, 2011:

http://www.iret.com/4thQtrFY2011.pdf

The Company will host a conference call on Friday, July 1, 2011 at 9:00 a.m. Central Daylight Time to discuss these results.   Conference Call access information is as follows:

USA Toll Free Number: 1-877-317-6789

International Toll Free Number: 1-412-317-6789

Canada Toll Free Number: 1-866-605-3852

The Conference Call is also available online on a listen-in only basis.  To access the call live, go to IRET’s website, http://www.iret.com, click on the 4^th Qtr Fiscal 2011 Earnings Call link under Earnings Calls and register.

A replay of the call will be archived on the “Investor Relations/Presentation and Events” page of IRET’s website, http://www.iret.com, through Monday, July 2, 2012.

Company management will take questions on an interactive basis during the conference call, following the prepared remarks. The call will be limited to one hour, including questions and answers.

Qestions regarding the conference call should be directed to IRET’s Investor Relations at landerson@iret.com.

Investors Real Estate Trust is a self-advised equity real estate investment trust. Its business consists of owning and operating income-producing multi-family residential and commercial properties located primarily in the upper Midwest states of Minnesota and North Dakota. Investors Real Estate Trust is based in Minot, North Dakota, and has an additional office in Minneapolis, Minnesota.