IRET announces disposition of two Minnesota properties

Investors Real Estate Trust announced that its operating partnership, IRET Properties, recently closed on the sale of two commercial industrial properties from its portfolio.

In late September, the company closed on the sale of the APi Building, a 35,000 sqm industrial building located in Duluth, MN, for $2.553m.

At the beginning of October, in a separate transaction with a different buyer, the company closed on the sale of the Lighthouse Building, a 59,292 sqm industrial building located in Duluth, MN, for $1.825m.

IRET continues to execute on its strategic plan by disposing of selected assets and reallocating sales proceeds to development projects and new acquisitions.