Twitter

Link your Twitter Account to Market Wire News


When you linking your Twitter Account Market Wire News Trending Stocks news and your Portfolio Stocks News will automatically tweet from your Twitter account.


Be alerted of any news about your stocks and see what other stocks are trending.

home / news releases / IRET - IRET expands in Denver market

IRET - IRET expands in Denver market

Investors Real Estate Trust Shares of Beneficial Interest
Investors Real Estate Trust (IRET) acquired Denver-based Parkhouse Apartment Homes in Thornton, Colorado, for purchase price of $144.8M."This acquisition balances our existing Denver portfolio to 50/50 downtown and suburban and allows us to achieve critical mass in this key growth market," CEO Mark Decker, Jr. commented.Constructed in 2016, Parkhouse consists of 465 homes and provides convenient access to major employment centers and robust retail offerings.This announcement closely after IRET's sale of four assets in Grand Forks, ND consisting of 690 homes for sale price of $42.5M.Using the sale proceeds, the company plans to leverage on multifamily product strong demand in secondary markets and redeploy the proceeds into a community thereby leading to higher quality cash flow and better potential for growth.

For further details see:

IRET expands in Denver market
Stock Information
Company Name: Investors Real Estate Trust Shares of Beneficial Interest
Stock Symbol: IRET
Market: NYSE
Menu
IRET IRET Quote IRET Short IRET News IRET Articles IRET Message Board
Get IRET Alerts

News, Short Squeeze, Breakout and More Instantly...