Deal Details
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:
- Date
- July 2012
- Company
- Investors Real Estate Trust
- Transaction
- M&A
- Sectors
- Real Estate
- Target Geography
- North America
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