SOURCE: Investors Real Estate Trust

October 09, 2007 07:07 ET

Investors Real Estate Trust Announces Offering of Common Shares

MINOT, ND--(Marketwire - October 9, 2007) - Investors Real Estate Trust (IRET) (NASDAQ: IRETS), a real estate investment trust with a diversified portfolio of multi-family residential and commercial office, medical, industrial and retail properties located primarily in the upper Midwest, today announced that it has commenced a public offering of 5,000,000 of its common shares of beneficial interest, no par value (common shares), pursuant to its currently effective shelf registration statement previously filed with the SEC. IRET expects to grant the underwriters an option to acquire up to an additional 750,000 common shares. IRET intends to use the net proceeds from the offering for the acquisition, development, renovation, expansion or improvement of income-producing real estate properties.

Robert W. Baird & Co. Incorporated is the bookrunning manager for the offering. D.A. Davidson & Co. and J.J.B. Hilliard, W.L. Lyons, Inc. are co-managers. The offering is being made only by means of a prospectus and related prospectus supplement, copies of which may be obtained from:

        Robert W. Baird & Co.
        Attn:  Syndicate Department
        777 E. Wisconsin Avenue
        Milwaukee, WI  53202
        Tel.: (414) 765-3632

A registration statement relating to these securities has been filed with and declared effective by the Securities and Exchange Commission. This press release does not constitute an offer to sell or a solicitation of an offer to buy the securities described herein, nor shall there be any sale of these securities in any state or other jurisdiction in which such an offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of any such state or other jurisdiction.

Disclosure Notice:

This press release contains "forward-looking statements" within the meaning of the federal securities laws. The forward-looking statements in this press release are subject to numerous risks and uncertainties, including the risk that the offering may not be completed as described herein, or at all.

Contact Information

  • CONTACT:
    Michelle R. Saari
    Investors Real Estate Trust
    PO Box 1988
    12 Main Street South
    Minot, North Dakota 58701
    701.837.4738 phone
    701.838.8875 fax
    info@iret.com email
    www.iret.com