MINOT, N.D., Aug. 8, 2016 /PRNewswire/ -- Investors Real
Estate Trust (NYSE: IRET) (NYSE: IRETPR) (NYSE: IRETPRB), a
self-administered, equity real estate investment trust investing in
income-producing properties located primarily in the upper Midwest,
today announced that the Company has hired Mark Decker Jr. as its new President and Chief
Investment Officer, effective Monday, August
8, 2016. Mr. Decker will replace Timothy P. Mihalick as President, but Mr.
Mihalick will continue to serve as the Chief Executive Officer,
providing strategic leadership and vision for the
Company.
"As we continue to transform IRET into a pure-play multifamily
REIT, we have strengthened our bench of management talent with the
addition of Mark Decker, Jr. as our
President and Chief Investment Officer," stated Mr. Mihalick.
"Mark has been a valued partner to IRET for the last 9 years
and with over 19 years of real estate, managerial,
and investment
banking experience, he brings a
deep understanding of the real estate capital
markets and strategic transactions. We believe Mark will add
tremendous value to our organization during this exciting time, and
we look forward to his contribution as we execute on our strategic
initiatives. "
As President and CIO, Mr. Decker will focus on furthering
operational excellence, prudent capital allocation and balance
sheet strength as part of the Company's overall mission to maximize
value for shareholders. Mr. Decker most recently served as
Managing Director and US Group Head of Real Estate Investment &
Corporate Banking at BMO Capital Markets, where he helped grow the
platform into an active participant in real estate debt, equity and
M&A transactions. He has worked for nearly 16 years as a
real estate investment banker at BMO Capital Markets, Robert W.
Baird & Co. and Ferris, Baker Watts and during that time, was
responsible for more than $90 billion in real estate
capital markets and advisory transactions. Prior to that, Mr.
Decker started his career in banking in Friedman, Billings, Ramsey
& Co., Inc.'s Financial Institutions Group. Mr. Decker
holds a B.A. in History from the College of William &
Mary.
About IRET
The Company is a self-administered, equity real estate
investment trust investing in income-producing properties located
primarily in the upper Midwest. As of April
30, 2016, it held for investment a portfolio of 146
properties consisting of 99 multifamily properties, consisting of
12,950 units, 31 healthcare properties, and 16 other commercial
properties with a total of 2.9 million square feet of leasable
space. The Company's common shares, Series A preferred shares
and Series B preferred shares are publicly traded on the New York
Stock Exchange (NYSE symbols: IRET, IRETPR and IRETPRB,
respectively). The Company's press releases and supplemental
information are available on its website at www.iret.com or by
contacting Investor Relations at 203-682-8377.
Forward-Looking Statements
This press release contains forward-looking statements within
the meaning of the Private Securities Litigation Reform Act of
1995, which are based on current expectations, forecasts and
assumptions that involve risks and uncertainties that could cause
actual outcomes and results to differ materially, including
statements related to our plans and organization. Such risks,
uncertainties and other factors include, but are not limited
to: fluctuations in interest rates, the effect of government
regulation, the availability of capital, changes in general and
local economic and real estate market conditions, competition, our
ability to attract and retain skilled personnel, and those risks
and uncertainties detailed from time to time in our filings with
the Securities and Exchange Commission, including our Annual Report
on Form 10-K for fiscal year ended April
30, 2016. We assume no obligation to update or
supplement forward-looking statements that become untrue because of
subsequent events.
Contact Info
Investor Relations
Stephen Swett
phone: 203-682-8377
email: IR@iret.com
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SOURCE Investors Real Estate Trust