MINNEAPOLIS, Jan. 22, 2018 /PRNewswire/ -- IRET
(NYSE: IRET) completed the sale of two additional medical office buildings on January 19, 2018, for an aggregate
sale price of approximately $30.5 million. This follows the Company's announcement on
January 2, 2018, that it sold 25 medical office buildings for an aggregate sale price of approximately $367.7 million.
With these latest transactions, IRET has now sold 27 of its 28 healthcare properties for an aggregate sale price of
approximately $398.2 million. The final property remains under contract for sale pending
the satisfaction of certain closing conditions. Over the next six months, if the closing conditions are met, IRET expects
to complete the sale of the final property for a sale price of approximately $1.9 million.
About IRET
IRET is a real estate company focused on the ownership, management, acquisition, redevelopment, and development of
multifamily apartment communities. As of October 31, 2017, IRET owned interests in 89
multifamily properties consisting of 13,576 apartment homes and 40 commercial properties, including 28 healthcare and 12 other
commercial properties, with a total of 2.5 million square feet of leasable space. IRET's common shares and Series C
preferred shares are publicly traded on the New York Stock Exchange (NYSE symbols: IRET and IRET PRC, respectively).
IRET's press releases and supplemental information are available on its website at www.iretapartments.com or by calling Investor Relations at 701-837-7104.
Forward-Looking Statements
Certain statements in this press release are based on our current expectations and assumptions, and are
"forward-looking statements" within the meaning of the Private Securities Litigation Reform Act of 1995. Forward-looking
statements do not discuss historical fact, but instead include statements related to expectations, projections, intentions or
other items related to the future. Words such as "expects," "anticipates," "intends," "plans," "believes," "seeks,"
"estimates," and variations of those words and similar expressions are intended to identify forward-looking statements.
These forward-looking statements involve known and unknown risks, uncertainties and other factors that may cause the actual
results, performance or achievements to be materially different from projected results. Although we believe the
expectations reflected in our forward-looking statements are based upon reasonable assumptions, we can give no assurance that our
expectations will be achieved. Any statements contained herein that are not statements of historical fact should be deemed
to be forward-looking statements. As a result, reliance should not be placed on these forward-looking statements as these
statements are subject to known and unknown risks, uncertainties, and other factors beyond our control and could differ
materially from our actual results and performance. Such risks and uncertainties those risks and uncertainties detailed
from time to time in our filings with the Securities and Exchange Commission, including the "Management's Discussion and Analysis
of Financial Condition and Results of Operations" and "Risk Factors" contained in our Annual Report on Form 10-K for the fiscal
year ended April 30, 2017, and in subsequent quarterly reports on Form 10-Q. We assume no
obligation to update or supplement forward-looking statements that become untrue due to subsequent events.
Contact Information
Matthew Volpano
Senior Vice President – Capital Markets
Phone: 701-837-7104
E-mail: IR@iret.com
View original content:http://www.prnewswire.com/news-releases/iret-completes-sale-of-two-additional-medical-office-buildings-300586072.html
SOURCE IRET