Preferred Equity Offering

Real Estate
Preferred Equity Offering

Summary

Baird served as lead book-running manager in this offering.

About

Investors Real Estate Trust (Nasdaq: IRET) (“IRET” or the “Company”) recently completed an offering of 4,000,000 shares of its 7.950% Series B Cumulative Redeemable Preferred Stock at a price of $25.00 per share, generating $100.0 million in gross proceeds. The Company intends to use the net proceeds from the offering for general corporate purposes, including the acquisition, development, renovation, expansion or improvement of income-producing real estate properties and debt repayment.

IRET is an equity real estate investment trust. The Company’s business consists of owning and operating income-producing multi-family residential and commercial properties located primarily in the upper Midwest. IRET is based in Minot, North Dakota, and has additional offices in Minneapolis and St. Cloud, Minnesota.

For additional information about this transaction, please contact:

Jeff Rogatz (703) 918-7823
Justin Glasgow (703) 918-7813
Peter Kies (414) 765-7262
Real Estate
Preferred Equity Offering
Date
July 2012
Company
Investors Real Estate Trust
Transaction
M&A
Sectors
Real Estate
Target Location
North America

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