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Investors Real Estate Trust Announces Disposition of Five Minnesota Properties



Investors Real Estate Trust Announces Disposition of Five Minnesota Properties

MINOT, N.D., Sept. 13, 2013 (GLOBE NEWSWIRE) -- Investors Real Estate Trust
(NYSE:IRET) (NYSE:IRETPR) (NYSE:IRET PRB), announced today that its operating
partnership, IRET Properties, closed on the sale of five commercial office and
industrial properties from its portfolio on September 12, 2013.

A single buyer acquired the five-building portfolio for a total purchase price
of $28.3 million. The properties included:

Bloomington Business Plaza: a 121,669 sq. ft. office building located in
Bloomington, MN sold for $4.50 million.

Nicollet Business Campus VII: a 118,125 sq. ft. office building located in
Burnsville, MN sold for $7.29 million.

Brooklyn Park 7401 Boone Avenue North: a 322,751 sq. ft. industrial building
located in Brooklyn Park, MN sold for $12.8 million.

Cedar Lake Business Center: a 50,400 sq. ft. industrial building located in
St. Louis Park, MN sold for $2.55 million.

Pillsbury Business Center: a 42,929 sq. ft. office building located in
Bloomington, MN sold for $1.16 million.

"I'm pleased with our progress in continuing to improve the overall
composition of IRET's portfolio," said Matt Volpano, IRET's Director of
Acquisitions and Business Development. "We have terrific opportunities in
front of us and will use the sales proceeds to fund new developments and
acquisitions. I also appreciate the outstanding job done by the CBRE
Institutional Group in Minneapolis to assist IRET with this transaction."

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.

CONTACT: Lindsey Knoop Anderson
         Director of Investor Relations
         1400 31st Ave SW Suite 60
         PO Box 1988
         Minot, North Dakota 58702-1988
         phone: 701.837.4738
         fax: 701.838.7785
         email:landerson@iret.com

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