Investors Real Estate Trust has signed agreements for the sale of substantially all of its office portfolio, a portfolio totaling 39 properties and nearly 3 million square feet.
Tim Mihalick, chief executive officer of Investors Real Estate Trust, said that the company plans to move toward a more-focused portfolio in the coming months, and that these sales are a step forward down that path.
Investors Real Estate Trust also announced the opening of the Chateau II luxury apartment development in Minot, North Dakota.
The Chateau II apartment development is located close to a neighborhood shopping center and within walking distance to an elementary school. The property consists of 72 units with a mix of one, two and three bedrooms, and climate-controlled parking for most of the units.
Chateau II was available for occupancy on June 1.