Investors Real Estate Trust (IRET) 2017年年度报告「NASDAQ」.pdf

1、We continue to make significant headway on our strategic initiatives to transform IRET to a focused multifamily company.Our portfolio is more efficient,we removed uncertainty from our investment profile,and our balance sheet has meaningful flexibility for targeted growth.As we enter FY 2018,IRET is

2、a stronger and beeer company,and we believe we are well-positioned to drive growth and create long-term value for our investors.“During FY 2017,we largely exited the senior housing sector,having completed the sale of 32 of 34 properties,and sold seven additional non-core properties for an aggregate

3、sale price of$287 million.We completed development of two apartment properties representing total investment of$103 million.These efforts reduced risk to our company by lowering our reliance on a large single-tenant senior housing operator and improved our portfolio quality with market-leading multi

4、family rental product.As a result of these efforts,multifamily revenue increased by more than 10%.Improved Portfolio&Earnings QualityFellow Shareholders,Fiscal Year 2017 was a year of significant transformation and accomplishment for IRET as we continue to execute on our plans to become a focused mu

5、ltifamily company.This transformation is not without challenges,but we believe the changes underway are putting us on the right path forward to drive strong and predictable growth over time and unlock the value within our portfolio.Let me review the milestones we achieved in FY 2017 and provide my t

6、houghts on our strategic direction:President&CEO Mark O.Decker,Jr.Progress on Portfolio TransformationMark O.Decker,Jr.President&CEO Sincerely,We are using the mission,vision,and values to guide our actions as we focus on building a sustainable and growing company.I believe the results will be power