Published:
Investors Real Estate Trust Announces Offering of Common Shares
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.
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Daily NewsTags: ,FinancialServices:Commercial and InvestmentBanking, FinancialServices:InvestmentServicesandTrading, RealEstateandConstruction:CommercialRealEstate, RealEstateandConstruction:Construction, RealEstateandConstruction:ResidentialRealEstate, ,NASDAQ01,NASDAQ01,ND,MINOT, ND
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