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SCHEDULE III - REAL ESTATE AND ACCUMULATED DEPRECIATION
 12 Months Ended
Apr. 30, 2012
SCHEDULE III - REAL ESTATE AND ACCUMULATED DEPRECIATION [Abstract]  
SCHEDULE III - REAL ESTATE AND ACCUMULATED DEPRECIATION
INVESTORS REAL ESTATE TRUST AND SUBSIDIARIES
April 30, 2012
Schedule III - REAL ESTATE AND ACCUMULATED DEPRECIATION (in thousands)
 
 
  
Initial Cost to Company
  
  
Gross amount at which carried at
close of period
  
  
 
   
Description
 
Encumbrances(a)
  
Land
  
Buildings &
Improvements
  
Costs capitalized
subsequent to
acquisition
  
Land
  
Buildings &
Improvements
  
Total
  
Accumulated
Depreciation
  
Date of
Construction
or Acquisition
 
Life on which
depreciation in
latest income
statement is
computed
Multi-Family Residential
 
  
  
  
  
  
  
  
  
 
                  
11th Street 3 Plex - Minot, ND
 
$
93
  
$
11
  
$
53
  
$
10
  
$
16
  
$
58
  
$
74
  
$
(6
)
  
2008
 
40 years
4th Street 4 Plex - Minot, ND
  
107
   
15
   
74
   
13
   
22
   
80
   
102
   
(8
)
  
2008
 
40 years
Apartments on Main - Minot, ND
  
709
   
158
   
1,123
   
20
   
178
   
1,123
   
1,301
   
(128
)
  
1987
 
24-40 years
Arbors - S Sioux City, NE
  
4,074
   
350
   
6,625
   
1,143
   
603
   
7,515
   
8,118
   
(1,256
)
  
2006
 
40 years
Ashland - Grand Forks, ND
  
5,800
   
741
   
7,569
   
0
   
741
   
7,569
   
8,310
   
(37
)
  
2012
 
40 years
Boulder Court - Eagan, MN
  
3,459
   
1,067
   
5,498
   
2,507
   
1,282
   
7,790
   
9,072
   
(1,738
)
  
2003
 
40 years
Brookfield Village - Topeka, KS
  
5,463
   
509
   
6,698
   
1,181
   
611
   
7,777
   
8,388
   
(1,728
)
  
2003
 
40 years
Brooklyn Heights - Minot, ND
  
848
   
145
   
1,450
   
732
   
204
   
2,123
   
2,327
   
(765
)
  
1997
 
12-40 years
Campus Center - St. Cloud, MN
  
1,350
   
395
   
2,244
   
137
   
398
   
2,378
   
2,776
   
(319
)
  
2007
 
40 years
Campus Heights - St. Cloud, MN
  
0
   
110
   
628
   
47
   
112
   
673
   
785
   
(92
)
  
2007
 
40 years
Campus Knoll - St. Cloud, MN
  
900
   
266
   
1,512
   
76
   
271
   
1,583
   
1,854
   
(216
)
  
2007
 
40 years
Campus Plaza - St. Cloud, MN(1)
  
0
   
54
   
311
   
39
   
59
   
345
   
404
   
(47
)
  
2007
 
40 years
Campus Side - St. Cloud, MN(1)
  
0
   
107
   
615
   
76
   
114
   
684
   
798
   
(93
)
  
2007
 
40 years
Campus View - St. Cloud, MN(1)
  
0
   
107
   
615
   
66
   
109
   
679
   
788
   
(91
)
  
2007
 
40 years
Candlelight - Fargo, ND
  
1,274
   
80
   
758
   
1,051
   
223
   
1,666
   
1,889
   
(772
)
  
1992
 
24-40 years
Canyon Lake - Rapid City, SD
  
2,989
   
305
   
3,958
   
799
   
343
   
4,719
   
5,062
   
(1,199
)
  
2001
 
40 years
Castlerock - Billings, MT
  
6,864
   
736
   
4,864
   
1,623
   
900
   
6,323
   
7,223
   
(2,127
)
  
1998
 
40 years
Chateau - Minot, ND
  
0
   
122
   
1,499
   
469
   
122
   
1,968
   
2,090
   
(219
)
  
1998
 
12-40 years
Cimarron Hills - Omaha, NE
  
4,947
   
706
   
9,588
   
4,263
   
1,244
   
13,313
   
14,557
   
(3,786
)
  
2001
 
40 years
Colonial Villa - Burnsville, MN
  
6,918
   
2,401
   
11,515
   
3,404
   
2,772
   
14,548
   
17,320
   
(3,417
)
  
2003
 
40 years
Colton Heights - Minot, ND
  
477
   
80
   
672
   
358
   
114
   
996
   
1,110
   
(660
)
  
1984
 
40 years
Cornerstone - St. Cloud, MN(1)
  
0
   
54
   
311
   
42
   
55
   
352
   
407
   
(48
)
  
2007
 
40 years
Cottage West Twin Homes - Sioux Falls, SD
  
3,758
   
968
   
3,762
   
33
   
976
   
3,787
   
4,763
   
(52
)
  
2011
 
40 years
Cottonwood - Bismarck, ND
  
16,197
   
1,056
   
17,372
   
2,657
   
1,312
   
19,773
   
21,085
   
(5,253
)
  
1997
 
40 years
Country Meadows - Billings, MT
  
6,894
   
491
   
7,809
   
1,067
   
534
   
8,833
   
9,367
   
(2,970
)
  
1995
 
33-40 years
Crestview - Bismarck, ND
  
4,059
   
235
   
4,290
   
1,260
   
480
   
5,305
   
5,785
   
(2,411
)
  
1994
 
24-40 years
Crown - Rochester, MN
  
2,737
   
261
   
3,289
   
128
   
266
   
3,412
   
3,678
   
(176
)
  
2010
 
40 years
Crown Colony - Topeka, KS
  
8,473
   
620
   
9,956
   
1,896
   
782
   
11,690
   
12,472
   
(3,598
)
  
1999
 
40 years
East Park - Sioux Falls, SD
  
1,497
   
115
   
2,405
   
681
   
156
   
3,045
   
3,201
   
(843
)
  
2002
 
40 years
Evergreen - Isanti, MN
  
2,078
   
380
   
2,720
   
72
   
380
   
2,792
   
3,172
   
(253
)
  
2008
 
40 years
Evergreen II - Isanti, MN
  
2,185
   
691
   
2,784
   
2
   
691
   
2,786
   
3,477
   
(39
)
  
2011
 
40 years
Fairmont - Minot, ND
  
367
   
28
   
337
   
43
   
53
   
355
   
408
   
(36
)
  
2008
 
40 years
2012 Annual Report F-33

INVESTORS REAL ESTATE TRUST AND SUBSIDIARIES
April 30, 2012
Schedule III - REAL ESTATE AND ACCUMULATED DEPRECIATION (in thousands)
 
 
  
Initial Cost to Company
  
  
Gross amount at which carried at
close of period
  
  
 
   
Description
 
Encumbrances(a)
  
Land
  
Buildings &
Improvements
  
Costs capitalized
subsequent to
acquisition
  
Land
  
Buildings &
Improvements
  
Total
  
Accumulated
Depreciation
  
Date of
Construction
or Acquisition
 
Life on which
depreciation in
latest income
statement is
computed
Multi-Family Residential - continued
 
  
  
  
  
  
  
  
  
 
                  
Forest Park - Grand Forks, ND
 
$
7,934
  
$
810
  
$
5,579
  
$
6,174
  
$
1,339
  
$
11,224
  
$
12,563
  
$
(4,118
)
  
1993
 
24-40 years
Gables Townhomes - Sioux Falls, SD
  
1,521
   
349
   
1,921
   
23
   
364
   
1,929
   
2,293
   
(27
)
  
2011
 
40 years
Grand Gateway - St. Cloud, MN
  
5,691
   
814
   
7,086
   
14
   
814
   
7,100
   
7,914
   
(47
)
  
2012
 
40 years
Greenfield - Omaha, NE
  
3,650
   
578
   
4,122
   
512
   
757
   
4,455
   
5,212
   
(504
)
  
2007
 
40 years
Heritage Manor - Rochester, MN
  
4,337
   
403
   
6,968
   
2,144
   
479
   
9,036
   
9,515
   
(2,989
)
  
1998
 
40 years
Indian Hills - Sioux City, IA(1)
  
0
   
294
   
2,921
   
2,987
   
375
   
5,827
   
6,202
   
(751
)
  
2007
 
40 years
Kirkwood Manor - Bismarck, ND
  
3,408
   
449
   
2,725
   
1,343
   
544
   
3,973
   
4,517
   
(1,429
)
  
1997
 
12-40 years
Lancaster - St. Cloud, MN
  
875
   
289
   
2,899
   
868
   
439
   
3,617
   
4,056
   
(1,213
)
  
2000
 
40 years
Landmark - Grand Forks, ND
  
1,759
   
184
   
1,514
   
845
   
274
   
2,269
   
2,543
   
(818
)
  
1997
 
40 years
Legacy - Grand Forks, ND
  
16,540
   
1,362
   
21,727
   
5,447
   
2,041
   
26,495
   
28,536
   
(7,839
)
  
1995-2005
 
24-40 years
Mariposa - Topeka, KS
  
3,067
   
399
   
5,110
   
334
   
420
   
5,423
   
5,843
   
(1,033
)
  
2004
 
40 years
Monticello Village - Monticello, MN
  
2,958
   
490
   
3,756
   
399
   
616
   
4,029
   
4,645
   
(892
)
  
2004
 
40 years
North Pointe - Bismarck, ND
  
3,522
   
303
   
3,957
   
243
   
324
   
4,179
   
4,503
   
(1,089
)
  
1995-2011
 
24-40 years
Northern Valley - Rochester, MN
  
0
   
110
   
610
   
49
   
119
   
650
   
769
   
(34
)
  
2010
 
40 years
Oakmont Estates - Sioux Falls, SD
  
2,573
   
423
   
4,838
   
409
   
511
   
5,159
   
5,670
   
(1,334
)
  
2002
 
40 years
Oakwood Estates - Sioux Falls, SD
  
4,184
   
543
   
2,784
   
4,012
   
764
   
6,575
   
7,339
   
(2,709
)
  
1993
 
40 years
Olympic Village - Billings, MT
  
11,131
   
1,164
   
10,441
   
2,277
   
1,573
   
12,309
   
13,882
   
(3,695
)
  
2000
 
40 years
Olympik Village - Rochester, MN
  
4,715
   
1,034
   
6,109
   
1,351
   
1,138
   
7,356
   
8,494
   
(1,370
)
  
2005
 
40 years
Oxbow Park - Sioux Falls, SD
  
4,086
   
404
   
3,152
   
2,395
   
557
   
5,394
   
5,951
   
(2,304
)
  
1994
 
24-40 years
Park Meadows - Waite Park, MN
  
8,694
   
1,143
   
9,099
   
4,181
   
1,506
   
12,917
   
14,423
   
(5,118
)
  
1997
 
40 years
Pebble Springs - Bismarck, ND
  
809
   
7
   
748
   
101
   
42
   
814
   
856
   
(276
)
  
1999
 
40 years
Pinehurst - Billings, MT
  
313
   
72
   
687
   
160
   
77
   
842
   
919
   
(222
)
  
2002
 
40 years
Pines - Minot, ND
  
136
   
35
   
215
   
149
   
49
   
350
   
399
   
(113
)
  
2002
 
40 years
Plaza - Minot, ND
  
5,720
   
793
   
0
   
15,028
   
900
   
14,921
   
15,821
   
(1,246
)
  
2009
 
40 years
Pointe West - Rapid City, SD
  
2,780
   
240
   
3,538
   
1,118
   
353
   
4,543
   
4,896
   
(1,983
)
  
1994
 
24-40 years
Prairie Winds - Sioux Falls, SD
  
1,488
   
144
   
1,816
   
433
   
225
   
2,168
   
2,393
   
(1,059
)
  
1993
 
24-40 years
Prairiewood Meadows - Fargo, ND
  
2,456
   
280
   
2,531
   
953
   
340
   
3,424
   
3,764
   
(1,038
)
  
2000
 
40 years
Quarry Ridge - Rochester, MN
  
11,876
   
1,312
   
13,362
   
581
   
1,345
   
13,910
   
15,255
   
(1,980
)
  
2006
 
40 years
Regency Park Estates - St. Cloud, MN
  
7,097
   
702
   
10,198
   
140
   
703
   
10,337
   
11,040
   
(185
)
  
2011
 
40 years
Ridge Oaks - Sioux City, IA
  
3,516
   
178
   
4,073
   
1,936
   
257
   
5,930
   
6,187
   
(1,755
)
  
2001
 
40 years
Rimrock West - Billings, MT
  
3,443
   
330
   
3,489
   
1,356
   
417
   
4,758
   
5,175
   
(1,348
)
  
1999
 
40 years
Rocky Meadows - Billings, MT
  
5,338
   
656
   
5,726
   
871
   
767
   
6,486
   
7,253
   
(2,575
)
  
1995
 
40 years
Rum River - Isanti, MN
  
3,741
   
843
   
4,823
   
74
   
848
   
4,892
   
5,740
   
(619
)
  
2007
 
40 years
2012 Annual Report F-34

INVESTORS REAL ESTATE TRUST AND SUBSIDIARIES
April 30, 2012
Schedule III - REAL ESTATE AND ACCUMULATED DEPRECIATION (in thousands)
 
 
  
Initial Cost to Company
  
  
Gross amount at which carried at
close of period
  
  
 
   
Description
 
Encumbrances(a)
  
Land
  
Buildings &
Improvements
  
Costs capitalized
subsequent to
acquisition
  
Land
  
Buildings &
Improvements
  
Total
  
Accumulated
Depreciation
  
Date of
Construction
or Acquisition
 
Life on which
depreciation in
latest income
statement is
computed
Multi-Family Residential - continued
 
  
  
  
  
  
  
  
  
 
                  
Sherwood - Topeka, KS
 
$
12,716
  
$
1,145
  
$
14,684
  
$
2,500
  
$
1,503
  
$
16,826
  
$
18,329
  
$
(5,260
)
  
1999
 
40 years
Sierra Vista - Sioux Falls, SD
  
1,477
   
241
   
2,097
   
56
   
251
   
2,143
   
2,394
   
(66
)
  
2011
 
40 years
South Pointe - Minot, ND
  
9,109
   
550
   
9,548
   
2,139
   
1,261
   
10,976
   
12,237
   
(4,442
)
  
1995
 
24-40 years
Southview - Minot, ND
  
1,105
   
185
   
469
   
295
   
236
   
713
   
949
   
(292
)
  
1994
 
24-40 years
Southwind - Grand Forks, ND
  
5,818
   
400
   
5,034
   
2,373
   
714
   
7,093
   
7,807
   
(2,757
)
  
1995
 
24-40 years
Summit Park - Minot, ND
  
1,176
   
161
   
1,898
   
1,022
   
266
   
2,815
   
3,081
   
(983
)
  
1995
 
24-40 years
Sunset Trail - Rochester, MN
  
8,373
   
336
   
12,814
   
2,214
   
522
   
14,842
   
15,364
   
(4,154
)
  
1999
 
40 years
Sycamore Village - Sioux Falls, SD
  
842
   
101
   
1,317
   
457
   
151
   
1,724
   
1,875
   
(495
)
  
2002
 
40 years
Temple - Minot, ND
  
83
   
0
   
0
   
226
   
0
   
226
   
226
   
(36
)
  
2006
 
40 years
Terrace Heights - Minot, ND
  
196
   
29
   
312
   
83
   
40
   
384
   
424
   
(153
)
  
2006
 
40 years
Terrace On The Green - Moorhead, MN
  
2,210
   
24
   
1,490
   
1,792
   
132
   
3,174
   
3,306
   
(2,200
)
  
1970
 
33-40 years
The Meadows - Jamestown, ND(1)
  
0
   
590
   
4,519
   
1,063
   
646
   
5,526
   
6,172
   
(1,663
)
  
1998
 
40 years
Thomasbrook - Lincoln, NE
  
6,159
   
600
   
10,306
   
2,753
   
1,084
   
12,575
   
13,659
   
(3,596
)
  
1999
 
40 years
University Park Place - St. Cloud, MN(1)
  
0
   
78
   
450
   
54
   
78
   
504
   
582
   
(66
)
  
2007
 
40 years
Valley Park - Grand Forks, ND
  
4,004
   
294
   
4,137
   
2,481
   
509
   
6,403
   
6,912
   
(2,055
)
  
1999
 
40 years
Village Green - Rochester, MN
  
1,324
   
234
   
2,296
   
581
   
349
   
2,762
   
3,111
   
(630
)
  
2003
 
40 years
West Stonehill - Waite Park, MN
  
8,935
   
939
   
10,167
   
4,227
   
1,295
   
14,038
   
15,333
   
(5,911
)
  
1995
 
40 years
Westridge - Minot, ND
  
1,768
   
68
   
1,887
   
55
   
72
   
1,938
   
2,010
   
(196
)
  
2008
 
40 years
Westwood Park - Bismarck, ND
  
2,041
   
116
   
1,909
   
1,596
   
258
   
3,363
   
3,621
   
(1,100
)
  
1998
 
40 years
Williston Garden - Williston, ND
  
0
   
700
   
8,978
   
0
   
700
   
8,978
   
9,678
   
(113
)
  
2012
 
40 years
Winchester - Rochester, MN
  
3,242
   
748
   
5,622
   
1,437
   
1,000
   
6,807
   
7,807
   
(1,601
)
  
2003
 
40 years
Woodridge - Rochester, MN
  
6,700
   
370
   
6,028
   
1,777
   
485
   
7,690
   
8,175
   
(2,970
)
  
1997
 
40 years
Total Multi-Family Residential
 
$
311,153
  
$
38,410
  
$
387,390
  
$
113,983
  
$
48,952
  
$
490,831
  
$
539,783
  
$
(128,834
)
    
  
 
                                    
                   
Commercial Office
                                    
                  
1st Avenue Building - Minot, ND
 
$
0
  
$
30
  
$
80
  
$
(39
)
 
$
33
  
$
38
  
$
71
  
$
270
   
1981
 
33-40 years
2030 Cliff Road - Eagan, MN
  
995
   
146
   
835
   
90
   
158
   
913
   
1,071
   
(246
)
  
2007
 
40 years
610 Business Center IV - Brooklyn Park, MN
  
7,125
   
975
   
5,542
   
2,886
   
980
   
8,423
   
9,403
   
(1,363
)
  
2001
 
19-40 years
7800 West Brown Deer Road - Milwaukee, WI
  
10,887
   
1,455
   
8,756
   
2,261
   
1,475
   
10,997
   
12,472
   
(2,853
)
  
2003
 
40 years
American Corporate Center - Mendota Heights, MN
  
9,016
   
893
   
16,768
   
3,879
   
893
   
20,647
   
21,540
   
(7,061
)
  
2002
 
40 years
Ameritrade - Omaha, NE
  
3,195
   
327
   
7,957
   
65
   
327
   
8,022
   
8,349
   
(2,613
)
  
1999
 
40 years
Benton Business Park - Sauk Rapids, MN
  
626
   
188
   
1,261
   
79
   
188
   
1,340
   
1,528
   
(326
)
  
2003
 
40 years
Bismarck 715 East Broadway - Bismarck, ND
  
2,398
   
389
   
0
   
2,389
   
422
   
2,356
   
2,778
   
(202
)
  
2008
 
40 years
2012 Annual Report F-35

INVESTORS REAL ESTATE TRUST AND SUBSIDIARIES
April 30, 2012
Schedule III - REAL ESTATE AND ACCUMULATED DEPRECIATION (in thousands)
 
 
  
Initial Cost to Company
  
  
Gross amount at which carried at
close of period
  
  
 
   
Description
 
Encumbrances(a)
  
Land
  
Buildings &
Improvements
  
Costs capitalized
subsequent to
acquisition
  
Land
  
Buildings &
Improvements
  
Total
  
Accumulated
Depreciation
  
Date of
Construction
or Acquisition
 
Life on which
depreciation in
latest income
statement is
computed
Commercial Office - continued
 
  
  
  
  
  
  
  
  
 
                  
Bloomington Business Plaza - Bloomington, MN
 
$
0
  
$
1,300
  
$
6,106
  
$
1,562
  
$
1,311
  
$
7,657
  
$
8,968
  
$
(2,210
)
  
2001
 
40 years
Brenwood - Minnetonka, MN
  
5,250
   
1,688
   
12,138
   
3,675
   
1,697
   
15,804
   
17,501
   
(4,695
)
  
2002
 
40 years
Brook Valley I - La Vista, NE
  
1,344
   
347
   
1,671
   
81
   
347
   
1,752
   
2,099
   
(304
)
  
2005
 
40 years
Burnsville Bluffs II - Burnsville, MN
  
1,756
   
300
   
2,154
   
961
   
359
   
3,056
   
3,415
   
(1,124
)
  
2001
 
40 years
Cold Spring Center - St. Cloud, MN
  
5,822
   
588
   
7,808
   
1,002
   
592
   
8,806
   
9,398
   
(2,698
)
  
2001
 
40 years
Corporate Center West - Omaha, NE
  
17,315
   
3,880
   
17,509
   
941
   
4,167
   
18,163
   
22,330
   
(2,507
)
  
2006
 
40 years
Crosstown Centre - Eden Prairie, MN
  
13,687
   
2,884
   
14,569
   
1,620
   
2,900
   
16,173
   
19,073
   
(3,069
)
  
2004
 
40 years
Dewey Hill Business Center - Edina, MN
  
0
   
985
   
3,507
   
907
   
995
   
4,404
   
5,399
   
(1,522
)
  
2000
 
40 years
Farnam Executive Center - Omaha, NE
  
12,160
   
2,188
   
11,404
   
0
   
2,188
   
11,404
   
13,592
   
(1,604
)
  
2006
 
40 years
Flagship - Eden Prairie, MN
  
21,565
   
1,899
   
21,638
   
939
   
2,013
   
22,463
   
24,476
   
(3,462
)
  
2006
 
40 years
Gateway Corporate Center - Woodbury, MN
  
8,700
   
1,637
   
7,763
   
438
   
1,651
   
8,187
   
9,838
   
(1,165
)
  
2006
 
40 years
Golden Hills Office Center - Golden Valley, MN
  
18,251
   
3,018
   
18,544
   
3,249
   
3,018
   
21,793
   
24,811
   
(6,388
)
  
2003
 
40 years
Great Plains - Fargo, ND
  
1,947
   
126
   
15,240
   
10
   
126
   
15,250
   
15,376
   
(4,845
)
  
1997
 
40 years
Highlands Ranch I - Highlands Ranch, CO
  
8,436
   
2,268
   
8,362
   
427
   
2,268
   
8,789
   
11,057
   
(1,268
)
  
2006
 
40 years
Highlands Ranch II - Highlands Ranch, CO
  
8,180
   
1,437
   
9,549
   
1,397
   
1,437
   
10,946
   
12,383
   
(2,298
)
  
2004
 
40 years
Interlachen Corporate Center - Edina, MN
  
9,082
   
1,650
   
14,983
   
1,991
   
1,668
   
16,956
   
18,624
   
(4,324
)
  
2001
 
40 years
Intertech Building - Fenton, MO
  
4,527
   
2,130
   
3,968
   
505
   
2,147
   
4,456
   
6,603
   
(492
)
  
2007
 
40 years
Mendota Office Center I - Mendota Heights, MN
  
3,883
   
835
   
6,169
   
367
   
835
   
6,536
   
7,371
   
(1,889
)
  
2002
 
40 years
Mendota Office Center II - Mendota Heights, MN
  
5,737
   
1,121
   
10,085
   
1,474
   
1,121
   
11,559
   
12,680
   
(3,777
)
  
2002
 
40 years
Mendota Office Center III - Mendota Heights, MN
  
3,942
   
970
   
5,734
   
258
   
970
   
5,992
   
6,962
   
(1,684
)
  
2002
 
40 years
Mendota Office Center IV - Mendota Heights, MN
  
4,687
   
1,070
   
7,635
   
578
   
1,070
   
8,213
   
9,283
   
(2,396
)
  
2002
 
40 years
Minnesota National Bank - Duluth, MN
  
850
   
287
   
1,454
   
171
   
288
   
1,624
   
1,912
   
(293
)
  
2004
 
40 years
Minot 2505 16th Street SW - Minot, ND(1)
  
0
   
298
   
1,724
   
296
   
298
   
2,020
   
2,318
   
(113
)
  
2009
 
40 years
Miracle Hills One - Omaha, NE
  
8,895
   
1,974
   
10,117
   
1,284
   
2,120
   
11,255
   
13,375
   
(2,039
)
  
2006
 
40 years
Nicollett VII - Burnsville, MN
  
0
   
429
   
6,931
   
430
   
436
   
7,354
   
7,790
   
(1,981
)
  
2001
 
40 years
Northgate I - Maple Grove, MN
  
5,339
   
1,062
   
6,358
   
832
   
1,077
   
7,175
   
8,252
   
(1,429
)
  
2004
 
40 years
Northgate II - Maple Grove, MN
  
960
   
359
   
1,944
   
144
   
403
   
2,044
   
2,447
   
(675
)
  
1999
 
40 years
Northpark Corporate Center - Arden Hills, MN
  
12,706
   
2,034
   
14,584
   
1,315
   
2,034
   
15,899
   
17,933
   
(2,589
)
  
2006
 
40 years
Omaha 10802 Farnam Dr - Omaha, NE
  
5,405
   
2,462
   
4,374
   
0
   
2,462
   
4,374
   
6,836
   
(150
)
  
2010
 
40 years
Pacific Hills - Omaha, NE
  
16,770
   
4,220
   
11,988
   
1,775
   
4,478
   
13,505
   
17,983
   
(2,129
)
  
2006
 
40 years
Pillsbury Business Center - Bloomington, MN
  
0
   
284
   
1,556
   
170
   
299
   
1,711
   
2,010
   
(492
)
  
2001
 
40 years
Plaza 16 - Minot, ND
  
7,591
   
389
   
5,444
   
3,749
   
591
   
8,991
   
9,582
   
(925
)
  
2009
 
40 years
Plaza VII - Boise, ID
  
1,052
   
300
   
3,058
   
442
   
351
   
3,449
   
3,800
   
(925
)
  
2003
 
40 years
Plymouth 5095 Nathan Lane - Plymouth, MN
  
1,245
   
604
   
1,253
   
82
   
636
   
1,303
   
1,939
   
(156
)
  
2007
 
40 years
2012 Annual Report F-36

INVESTORS REAL ESTATE TRUST AND SUBSIDIARIES
April 30, 2012
Schedule III - REAL ESTATE AND ACCUMULATED DEPRECIATION (in thousands)
 
 
  
Initial Cost to Company
  
  
Gross amount at which carried at
close of period
  
  
 
   
Description
 
Encumbrances(a)
  
Land
  
Buildings &
Improvements
  
Costs capitalized
subsequent to
acquisition
  
Land
  
Buildings &
Improvements
  
Total
  
Accumulated
Depreciation
  
Date of
Construction
or Acquisition
 
Life on which
depreciation in
latest income
statement is
computed
Commercial Office - continued
 
  
  
  
  
  
  
  
  
 
                  
Plymouth I - Plymouth, MN
 
$
1,197
  
$
530
  
$
1,133
  
$
42
  
$
530
  
$
1,175
  
$
1,705
  
$
(241
)
  
2004
 
40 years
Plymouth II - Plymouth, MN
  
1,197
   
367
   
1,264
   
41
   
367
   
1,305
   
1,672
   
(269
)
  
2004
 
40 years
Plymouth III - Plymouth, MN
  
1,473
   
507
   
1,495
   
359
   
507
   
1,854
   
2,361
   
(417
)
  
2004
 
40 years
Plymouth IV & V - Plymouth, MN
  
7,026
   
1,336
   
12,693
   
1,676
   
1,338
   
14,367
   
15,705
   
(4,294
)
  
2001
 
40 years
Prairie Oak Business Center - Eden Prairie, MN
  
3,387
   
531
   
4,069
   
1,640
   
563
   
5,677
   
6,240
   
(1,696
)
  
2003
 
40 years
Rapid City 900 Concourse Drive - Rapid City, SD
  
1,609
   
285
   
6,600
   
503
   
321
   
7,067
   
7,388
   
(2,040
)
  
2000
 
40 years
Riverport - Maryland Heights, MO
  
19,690
   
1,891
   
18,982
   
696
   
1,917
   
19,652
   
21,569
   
(2,692
)
  
2006
 
40 years
Southeast Tech Center - Eagan, MN
  
1,727
   
560
   
5,496
   
419
   
569
   
5,906
   
6,475
   
(1,964
)
  
1999
 
40 years
Spring Valley IV - Omaha, NE
  
800
   
178
   
916
   
60
   
186
   
968
   
1,154
   
(188
)
  
2005
 
40 years
Spring Valley V - Omaha, NE
  
880
   
212
   
1,123
   
251
   
240
   
1,346
   
1,586
   
(249
)
  
2005
 
40 years
Spring Valley X - Omaha, NE
  
816
   
180
   
1,024
   
54
   
189
   
1,069
   
1,258
   
(184
)
  
2005
 
40 years
Spring Valley XI - Omaha, NE
  
800
   
143
   
1,094
   
36
   
151
   
1,122
   
1,273
   
(189
)
  
2005
 
40 years
Superior Office Building - Duluth, MN
  
1,279
   
336
   
2,200
   
83
   
336
   
2,283
   
2,619
   
(443
)
  
2004
 
40 years
TCA Building - Eagan, MN
  
7,536
   
627
   
8,571
   
807
   
684
   
9,321
   
10,005
   
(2,324
)
  
2003
 
40 years
Three Paramount Plaza - Bloomington, MN(1)
  
0
   
1,261
   
6,149
   
1,883
   
1,298
   
7,995
   
9,293
   
(2,339
)
  
2002
 
40 years
Thresher Square - Minneapolis, MN
  
0
   
1,094
   
10,026
   
1,706
   
1,104
   
11,722
   
12,826
   
(3,281
)
  
2002
 
40 years
Timberlands - Leawood, KS
  
13,155
   
2,375
   
12,218
   
749
   
2,495
   
12,847
   
15,342
   
(2,179
)
  
2006
 
40 years
UHC Office - International Falls, MN
  
1,084
   
119
   
2,366
   
80
   
119
   
2,446
   
2,565
   
(515
)
  
2004
 
40 years
US Bank Financial Center - Bloomington, MN
  
13,728
   
3,117
   
13,350
   
610
   
3,119
   
13,958
   
17,077
   
(2,532
)
  
2005
 
40 years
Viromed - Eden Prairie, MN
  
626
   
666
   
4,197
   
1
   
666
   
4,198
   
4,864
   
(1,386
)
  
1999
 
40 years
Wells Fargo Center - St Cloud, MN
  
6,400
   
869
   
8,373
   
1,430
   
869
   
9,803
   
10,672
   
(1,795
)
  
2005
 
40 years
West River Business Park - Waite Park, MN
  
626
   
235
   
1,195
   
50
   
235
   
1,245
   
1,480
   
(291
)
  
2003
 
40 years
Westgate - Boise, ID
  
4,254
   
1,000
   
10,618
   
1,911
   
1,000
   
12,529
   
13,529
   
(3,100
)
  
2003
 
40 years
Whitewater Plaza - Minnetonka, MN
  
3,900
   
530
   
4,860
   
784
   
577
   
5,597
   
6,174
   
(1,552
)
  
2002
 
40 years
Wirth Corporate Center - Golden Valley, MN
  
3,539
   
970
   
7,659
   
932
   
971
   
8,590
   
9,561
   
(2,404
)
  
2002
 
40 years
Woodlands Plaza IV - Maryland Heights, MO
  
4,360
   
771
   
4,609
   
917
   
837
   
5,460
   
6,297
   
(847
)
  
2006
 
40 years
Total Commercial Office
 
$
352,415
  
$
72,116
  
$
470,800
  
$
62,402
  
$
74,017
   
531,301
  
$
605,318
  
$
(121,422
)
    
  
 
                                    
                   
Commercial Medical
                                    
                  
2800 Medical Building - Minneapolis, MN
 
$
5,586
  
$
204
  
$
7,135
  
$
2,184
  
$
229
  
$
9,294
  
$
9,523
  
$
(1,962
)
  
2005
 
40 years
2828 Chicago Avenue - Minneapolis, MN
  
8,529
   
726
   
11,319
   
5,627
   
729
   
16,943
   
17,672
   
(2,141
)
  
2007
 
40 years
Airport Medical - Bloomington, MN
  
1,372
   
0
   
4,678
   
0
   
0
   
4,678
   
4,678
   
(1,380
)
  
2002
 
40 years
Barry Pointe Office Park - Kansas City, MO
  
1,466
   
384
   
2,366
   
104
   
392
   
2,462
   
2,854
   
(328
)
  
2007
 
40 years
2012 Annual Report F-37

INVESTORS REAL ESTATE TRUST AND SUBSIDIARIES
April 30, 2012
Schedule III - REAL ESTATE AND ACCUMULATED DEPRECIATION (in thousands)
 
 
  
Initial Cost to Company
  
  
Gross amount at which carried at
close of period
  
  
 
   
Description
 
Encumbrances(a)
  
Land
  
Buildings &
Improvements
  
Costs capitalized
subsequent to
acquisition
  
Land
  
Buildings &
Improvements
  
Total
  
Accumulated
Depreciation
  
Date of
Construction
or Acquisition
 
Life on which
depreciation in
latest income
statement is
computed
Commercial Medical - continued
 
  
  
  
  
  
  
  
  
 
                  
Billings 2300 Grant Road - Billings, MT
 
$
1,820
  
$
649
  
$
1,216
  
$
0
  
$
649
  
$
1,216
  
$
1,865
  
$
(54
)
  
2010
 
40 years
Burnsville 303 Nicollet Medical (Ridgeview) - Burnsville, MN
  
8,610
   
1,071
   
6,842
   
1,394
   
1,071
   
8,236
   
9,307
   
(790
)
  
2008
 
40 years
Burnsville 305 Nicollet Medical (Ridgeview South) - Burnsville, MN
  
5,390
   
189
   
5,127
   
678
   
189
   
5,805
   
5,994
   
(586
)
  
2008
 
40 years
Casper 1930 E 12th Street (Park Place) - Casper, WY(1)
  
0
   
439
   
5,780
   
162
   
439
   
5,942
   
6,381
   
(367
)
  
2009
 
40 years
Casper 3955 E 12th Street (Meadow Wind) - Casper, WY(1)
  
0
   
388
   
8,858
   
1,004
   
388
   
9,862
   
10,250
   
(433
)
  
2009
 
40 years
Cheyenne 4010 N College Drive (Aspen Wind) - Cheyenne, WY(1)
  
0
   
628
   
10,272
   
260
   
629
   
10,531
   
11,160
   
(625
)
  
2009
 
40 years
Cheyenne 4606 N College Drive (Sierra Hills) - Cheyenne, WY(1)
  
0
   
695
   
7,455
   
39
   
695
   
7,494
   
8,189
   
(448
)
  
2009
 
40 years
Denfeld Clinic - Duluth, MN
  
1,760
   
501
   
2,597
   
1
   
501
   
2,598
   
3,099
   
(523
)
  
2004
 
40 years
Eagan 1440 Duckwood Medical - Eagan, MN
  
1,854
   
521
   
1,547
   
519
   
521
   
2,066
   
2,587
   
(353
)
  
2008
 
40 years
Edgewood Vista - Belgrade, MT
  
0
   
35
   
779
   
0
   
35
   
779
   
814
   
(80
)
  
2008
 
40 years
Edgewood Vista - Billings, MT
  
1,967
   
115
   
1,782
   
(15
)
  
115
   
1,767
   
1,882
   
(186
)
  
2008
 
40 years
Edgewood Vista - Bismarck, ND
  
5,492
   
511
   
9,193
   
36
   
511
   
9,229
   
9,740
   
(1,526
)
  
2005
 
40 years
Edgewood Vista - Brainerd, MN
  
5,427
   
587
   
8,999
   
34
   
587
   
9,033
   
9,620
   
(1,494
)
  
2005
 
40 years
Edgewood Vista - Columbus, NE(1)
  
0
   
43
   
824
   
0
   
43
   
824
   
867
   
(85
)
  
2008
 
40 years
Edgewood Vista - East Grand Forks, MN
  
2,997
   
290
   
1,383
   
(31
)
  
290
   
1,352
   
1,642
   
(143
)
  
2000
 
40 years
Edgewood Vista - Fargo, ND
  
13,310
   
775
   
20,870
   
0
   
775
   
20,870
   
21,645
   
(2,152
)
  
2008
 
40 years
Edgewood Vista - Fremont, NE
  
609
   
56
   
490
   
42
   
56
   
532
   
588
   
(141
)
  
2008
 
40 years
Edgewood Vista - Grand Island, NE(1)
  
0
   
33
   
773
   
1
   
33
   
774
   
807
   
(80
)
  
2000
 
40 years
Edgewood Vista - Hastings, NE
  
628
   
49
   
517
   
40
   
49
   
557
   
606
   
(153
)
  
2008
 
40 years
Edgewood Vista - Hermantown I, MN
  
16,836
   
288
   
9,871
   
1,501
   
288
   
11,372
   
11,660
   
(3,020
)
  
2000
 
40 years
Edgewood Vista - Hermantown II, MN
  
6,290
   
719
   
10,517
   
33
   
719
   
10,550
   
11,269
   
(1,745
)
  
2005
 
40 years
Edgewood Vista - Kalispell, MT
  
629
   
70
   
502
   
72
   
70
   
574
   
644
   
(149
)
  
2001
 
40 years
Edgewood Vista - Minot, ND
  
9,674
   
1,045
   
11,590
   
0
   
1,045
   
11,590
   
12,635
   
(423
)
  
2010
 
40 years
Edgewood Vista - Missoula, MT
  
894
   
109
   
854
   
36
   
109
   
890
   
999
   
(335
)
  
1996
 
40 years
Edgewood Vista - Norfolk, NE(1)
  
0
   
42
   
722
   
0
   
42
   
722
   
764
   
(74
)
  
2008
 
40 years
Edgewood Vista - Omaha, NE
  
398
   
89
   
547
   
40
   
89
   
587
   
676
   
(156
)
  
2001
 
40 years
Edgewood Vista - Sioux Falls, SD
  
1,127
   
314
   
1,001
   
(26
)
  
314
   
975
   
1,289
   
(103
)
  
2008
 
40 years
Edgewood Vista - Spearfish, SD
  
3,419
   
315
   
8,584
   
43
   
317
   
8,625
   
8,942
   
(1,054
)
  
2005
 
40 years
Edgewood Vista - Virginia, MN
  
14,322
   
246
   
11,823
   
77
   
246
   
11,900
   
12,146
   
(2,758
)
  
2002
 
40 years
Edina 6363 France Medical - Edina, MN(1)
  
0
   
0
   
12,675
   
1,527
   
0
   
14,202
   
14,202
   
(1,848
)
  
2008
 
40 years
Edina 6405 France Medical  - Edina, MN
  
9,073
   
0
   
12,201
   
0
   
0
   
12,201
   
12,201
   
(1,664
)
  
2008
 
40 years
2012 Annual Report F-38

INVESTORS REAL ESTATE TRUST AND SUBSIDIARIES
April 30, 2012
Schedule III - REAL ESTATE AND ACCUMULATED DEPRECIATION (in thousands)
 
 
  
Initial Cost to Company
  
  
Gross amount at which carried at
close of period
  
  
   
Description
 
Encumbrances(a)
  
Land
  
Buildings &
Improvements
  
Costs capitalized
subsequent to
acquisition
  
Land
  
Buildings &
Improvements
  
Total
  
Accumulated
Depreciation
  
Date of
Construction
or Acquisition
 
Life on which
depreciation in
latest income
statement is
computed
Commercial Medical - continued
 
  
  
  
  
  
  
  
  
 
                  
Edina 6517 Drew Avenue - Edina, MN
 
$
1,164
  
$
353
  
$
660
  
$
529
  
$
372
  
$
1,170
  
$
1,542
  
$
(401
)
  
2002
 
40 years
Edina 6525 Drew Avenue - Edina, MN
  
0
   
388
   
117
   
0
   
388
   
117
   
505
   
(2
)
  
2011
 
40 years
Edina 6525 France SMC II - Edina, MN
  
10,339
   
755
   
8,054
   
5,945
   
1,003
   
13,751
   
14,754
   
(4,603
)
  
2003
 
40 years
Edina 6545 France SMC I - Edina MN
  
31,325
   
3,480
   
30,743
   
11,244
   
3,480
   
41,987
   
45,467
   
(12,697
)
  
2001
 
40 years
Fresenius - Duluth, MN
  
780
   
50
   
1,520
   
2
   
50
   
1,522
   
1,572
   
(306
)
  
2004
 
40 years
Garden View - St. Paul, MN
  
1,815
   
0
   
7,408
   
411
   
0
   
7,819
   
7,819
   
(2,006
)
  
2002
 
40 years
Gateway Clinic - Sandstone, MN
  
1,019
   
66
   
1,699
   
1
   
66
   
1,700
   
1,766
   
(342
)
  
2004
 
40 years
Healtheast St John & Woodwinds - Maplewood & Woodbury, MN
  
11,538
   
3,239
   
18,362
   
0
   
3,239
   
18,362
   
21,601
   
(5,489
)
  
2000
 
40 years
High Pointe Health Campus - Lake Elmo, MN
  
5,400
   
1,305
   
10,528
   
1,629
   
1,329
   
12,133
   
13,462
   
(2,448
)
  
2004
 
40 years
Laramie 1072 N 22nd Street (Spring Wind) - Laramie, WY(1)
  
0
   
406
   
6,634
   
17
   
406
   
6,651
   
7,057
   
(396
)
  
2009
 
40 years
Mariner Clinic - Superior, WI
  
2,229
   
0
   
3,781
   
83
   
20
   
3,844
   
3,864
   
(768
)
  
2004
 
40 years
Minneapolis 701 25th Avenue Medical - Minneapolis, MN
  
6,442
   
0
   
7,873
   
809
   
0
   
8,682
   
8,682
   
(827
)
  
2008
 
40 years
Missoula 3050 Great Northern - Missoula, MT
  
1,920
   
640
   
1,331
   
0
   
640
   
1,331
   
1,971
   
(60
)
  
2010
 
40 years
Nebraska Orthopedic Hospital - Omaha, NE
  
12,385
   
0
   
20,272
   
1,615
   
0
   
21,887
   
21,887
   
(4,176
)
  
2004
 
40 years
Park Dental - Brooklyn Center, MN
  
787
   
185
   
2,767
   
0
   
185
   
2,767
   
2,952
   
(666
)
  
2002
 
40 years
Pavilion I - Duluth, MN
  
5,873
   
1,245
   
8,898
   
31
   
1,245
   
8,929
   
10,174
   
(1,767
)
  
2004
 
40 years
Pavilion II - Duluth, MN
  
10,808
   
2,715
   
14,673
   
1,937
   
2,715
   
16,610
   
19,325
   
(4,215
)
  
2004
 
40 years
Ritchie Medical Plaza - St Paul, MN
  
6,686
   
1,615
   
7,851
   
1,252
   
1,647
   
9,071
   
10,718
   
(1,608
)
  
2005
 
40 years
Sartell 2000 23rd Street South - Sartell, MN
  
3,997
   
0
   
11,781
   
935
   
0
   
12,716
   
12,716
   
(3,133
)
  
2002
 
40 years
Spring Creek-American Falls - American Falls, ID
  
2,438
   
145
   
3,870
   
0
   
145
   
3,870
   
4,015
   
(68
)
  
2011
 
40 years
Spring Creek-Soda Springs - Soda Springs, ID
  
878
   
66
   
2,134
   
33
   
66
   
2,167
   
2,233
   
(38
)
  
2011
 
40 years
Spring Creek-Eagle - Eagle, ID
  
2,243
   
263
   
3,775
   
0
   
263
   
3,775
   
4,038
   
(66
)
  
2011
 
40 years
Spring Creek-Meridian - Meridian, ID
  
3,706
   
424
   
6,724
   
0
   
424
   
6,724
   
7,148
   
(117
)
  
2011
 
40 years
Spring Creek-Overland - Overland, ID
  
3,448
   
687
   
5,941
   
0
   
687
   
5,941
   
6,628
   
(107
)
  
2011
 
40 years
Spring Creek-Boise - Boise, ID
  
3,054
   
708
   
4,296
   
0
   
708
   
4,296
   
5,004
   
(80
)
  
2011
 
40 years
Spring Creek-Ustick - Meridian, ID
  
0
   
467
   
3,833
   
0
   
467
   
3,833
   
4,300
   
(63
)
  
2011
 
40 years
St Michael Clinic - St Michael, MN
  
1,951
   
328
   
2,259
   
264
   
328
   
2,523
   
2,851
   
(321
)
  
2007
 
40 years
Stevens Point - Stevens Point, WI
  
9,797
   
442
   
3,888
   
10,495
   
442
   
14,383
   
14,825
   
(1,977
)
  
2006
 
40 years
Trinity at Plaza 16 - Minot, ND
  
5,111
   
568
   
8,270
   
697
   
568
   
8,967
   
9,535
   
(137
)
  
2011
 
40 years
Wells Clinic - Hibbing, MN
  
1,554
   
162
   
2,497
   
1
   
162
   
2,498
   
2,660
   
(501
)
  
2004
 
40 years
Total Commercial Medical
 
$
278,166
  
$
32,828
  
$
414,128
  
$
53,312
  
$
33,210
   
467,058
  
$
500,268
  
$
(78,744
)
    
  
 
                                    
                   
2012 Annual Report F-39

INVESTORS REAL ESTATE TRUST AND SUBSIDIARIES
April 30, 2012
Schedule III - REAL ESTATE AND ACCUMULATED DEPRECIATION (in thousands)
 
 
  
Initial Cost to Company
  
  
Gross amount at which carried at
close of period
  
  
   
Description
 
Encumbrances(a)
  
Land
  
Buildings &
Improvements
  
Costs capitalized
subsequent to
acquisition
  
Land
  
Buildings &
Improvements
  
Total
  
Accumulated
Depreciation
  
Date of
Construction
or Acquisition
 
Life on which
depreciation in
latest income
statement is
computed
Commercial Industrial
 
  
  
  
  
  
  
  
  
 
                  
API Building - Duluth, MN
 
$
868
  
$
115
  
$
1,605
  
$
3
  
$
115
  
$
1,608
  
$
1,723
  
$
(323
)
  
2004
 
40 years
Bloomington 2000 W 94th Street - Bloomington, MN
  
3,789
   
2,133
   
4,097
   
1,107
   
2,150
   
5,187
   
7,337
   
(748
)
  
2006
 
40 years
Bodycote Industrial Building - Eden Prairie, MN
  
1,118
   
198
   
1,154
   
800
   
198
   
1,954
   
2,152
   
(809
)
  
1992
 
40 years
Brooklyn Park 7401 Boone Avenue - Brooklyn Park, MN
  
6,172
   
1,368
   
11,643
   
2,121
   
1,368
   
13,764
   
15,132
   
(3,367
)
  
2007
 
40 years
Cedar Lake Business Center - St. Louis Park, MN
  
2,334
   
895
   
2,810
   
66
   
895
   
2,876
   
3,771
   
(363
)
  
2009
 
40 years
Clive 2075 NW 94th Street - Clive, IA
  
2,214
   
408
   
2,611
   
48
   
408
   
2,659
   
3,067
   
(180
)
  
2002
 
40 years
Dixon Avenue Industrial Park - Des Moines, IA
  
7,028
   
1,439
   
10,758
   
1,611
   
1,439
   
12,369
   
13,808
   
(3,177
)
  
2008
 
40 years
Eagan 2785 & 2795 Highway 55 - Eagan, MN
  
0
   
3,058
   
2,570
   
0
   
3,058
   
2,570
   
5,628
   
(272
)
  
1999
 
40 years
Fargo 1320 45th Street N - Fargo, ND(1)
  
0
   
395
   
3,518
   
246
   
395
   
3,764
   
4,159
   
(176
)
  
2010
 
40 years
Lexington Commerce Center - Eagan, MN
  
2,399
   
453
   
4,352
   
1,842
   
480
   
6,167
   
6,647
   
(2,200
)
  
2004
 
40 years
Lighthouse - Duluth, MN
  
911
   
90
   
1,788
   
7
   
90
   
1,795
   
1,885
   
(363
)
  
2002
 
40 years
Metal Improvement Company - New Brighton, MN
  
1,494
   
240
   
2,189
   
78
   
240
   
2,267
   
2,507
   
(587
)
  
2009
 
40 years
Minnetonka 13600 County Road 62 - Minnetonka, MN
  
2,496
   
809
   
434
   
2,459
   
809
   
2,893
   
3,702
   
(235
)
  
2006
 
40 years
Roseville 2929 Long Lake Road - Roseville, MN
  
5,572
   
1,966
   
7,272
   
1,722
   
2,000
   
8,960
   
10,960
   
(1,235
)
  
1995
 
40 years
Stone Container - Fargo, ND
  
1,896
   
440
   
6,597
   
104
   
440
   
6,701
   
7,141
   
(2,440
)
  
2001
 
40 years
Stone Container - Roseville, MN
  
4,500
   
810
   
7,440
   
202
   
830
   
7,622
   
8,452
   
(1,952
)
  
2007
 
40 years
Urbandale 3900 106th Street - Urbandale, IA
  
10,800
   
3,680
   
10,089
   
493
   
3,721
   
10,541
   
14,262
   
(1,414
)
  
2000
 
40 years
Winsted Industrial Building - Winsted, MN
  
394
   
100
   
901
   
48
   
100
   
949
   
1,049
   
(320
)
  
2001
 
40 years
Woodbury 1865 Woodlane - Woodbury, MN
  
2,746
   
1,108
   
2,628
   
1,884
   
1,123
   
4,497
   
5,620
   
(532
)
  
2007
 
40 years
Total Commercial Industrial
 
$
56,731
  
$
19,705
  
$
84,456
  
$
14,841
  
$
19,859
   
99,143
  
$
119,002
  
$
(20,693
)
    
  
 
                                    
                   
Commercial Retail
                                    
                  
17 South Main - Minot, ND
 
$
83
  
$
15
  
$
75
  
$
197
  
$
17
  
$
270
  
$
287
  
$
(194
)
  
2000
 
40 years
Anoka Strip Center - Anoka, MN
  
0
   
123
   
602
   
25
   
134
   
616
   
750
   
(143
)
  
2003
 
40 years
Burnsville 1 Strip Center - Burnsville, MN
  
393
   
208
   
773
   
207
   
208
   
980
   
1,188
   
(229
)
  
2003
 
40 years
Burnsville 2 Strip Center - Burnsville, MN
  
312
   
291
   
469
   
214
   
294
   
680
   
974
   
(172
)
  
2003
 
40 years
Champlin South Pond - Champlin, MN
  
1,604
   
842
   
2,703
   
58
   
866
   
2,737
   
3,603
   
(576
)
  
2004
 
40 years
Chan West Village - Chanhassen, MN
  
13,396
   
5,035
   
14,665
   
1,895
   
5,606
   
15,989
   
21,595
   
(3,846
)
  
2003
 
40 years
Dakota West Plaza - Minot , ND
  
372
   
92
   
493
   
30
   
106
   
509
   
615
   
(80
)
  
2006
 
40 years
Duluth Denfeld Retail - Duluth, MN
  
2,435
   
276
   
4,699
   
122
   
297
   
4,800
   
5,097
   
(976
)
  
2004
 
40 years
Duluth NAPA - Duluth, MN
  
737
   
130
   
1,800
   
4
   
131
   
1,803
   
1,934
   
(362
)
  
2004
 
40 years
Eagan Community - Eagan, MN
  
1,342
   
702
   
1,588
   
877
   
703
   
2,464
   
3,167
   
(564
)
  
2003
 
40 years
Fargo Express Community - Fargo, ND
  
991
   
374
   
1,420
   
695
   
386
   
2,103
   
2,489
   
(354
)
  
2003-2005
 
40 years
Forest Lake Auto - Forest Lake, MN(1)
  
0
   
50
   
446
   
13
   
50
   
459
   
509
   
(109
)
  
2003
 
40 years
2012 Annual Report F-40

INVESTORS REAL ESTATE TRUST AND SUBSIDIARIES
April 30, 2012
Schedule III - REAL ESTATE AND ACCUMULATED DEPRECIATION (in thousands)
 
 
  
Initial Cost to Company
  
  
Gross amount at which carried at
close of period
  
  
 
   
Description
 
Encumbrances(a)
  
Land
  
Buildings &
Improvements
  
Costs capitalized
subsequent to
acquisition
  
Land
  
Buildings &
Improvements
  
Total
  
Accumulated
Depreciation
  
Date of
Construction
or Acquisition
 
Life on which
depreciation in
latest income
statement is
computed
Commercial Retail - continued
 
  
  
  
  
  
  
  
  
 
                  
Forest Lake Westlake Center - Forest Lake, MN
 
$
4,291
  
$
2,446
  
$
5,304
  
$
487
  
$
2,480
  
$
5,757
  
$
8,237
  
$
(1,336
)
  
2003
 
40 years
Grand Forks Carmike - Grand Forks, ND
  
1,650
   
184
   
2,360
   
2
   
184
   
2,362
   
2,546
   
(1,033
)
  
1994
 
40 years
Grand Forks Medpark Mall - Grand Forks, ND
  
3,045
   
681
   
4,808
   
251
   
722
   
5,018
   
5,740
   
(1,547
)
  
2000
 
40 years
Jamestown Buffalo Mall - Jamestown, ND
  
2,710
   
566
   
4,962
   
3,112
   
950
   
7,690
   
8,640
   
(1,237
)
  
2003
 
40 years
Jamestown Business Center - Jamestown, ND
  
530
   
297
   
1,023
   
1,334
   
333
   
2,321
   
2,654
   
(730
)
  
2003
 
40 years
Kalispell Retail Center - Kalispell, MT
  
1,352
   
250
   
2,250
   
973
   
253
   
3,220
   
3,473
   
(682
)
  
2003
 
40 years
Lakeville Strip Center - Lakeville, MN
  
986
   
46
   
1,142
   
852
   
94
   
1,946
   
2,040
   
(553
)
  
2003
 
40 years
Minot 1400 31st Ave - Minot, ND(1)
  
0
   
1,026
   
6,143
   
4,256
   
1,026
   
10,399
   
11,425
   
(440
)
  
2010
 
40 years
Minot Arrowhead - Minot, ND
  
0
   
100
   
1,690
   
4,311
   
103
   
5,998
   
6,101
   
(1,135
)
  
1973
 
15 1/2-40 years
Minot Plaza - Minot, ND
  
812
   
50
   
453
   
147
   
80
   
570
   
650
   
(275
)
  
1993
 
40 years
Monticello C Store - Monticello, MN(1)
  
0
   
65
   
770
   
37
   
97
   
775
   
872
   
(185
)
  
2003
 
40 years
Omaha Barnes & Noble - Omaha, NE
  
2,559
   
600
   
3,099
   
0
   
600
   
3,099
   
3,699
   
(1,278
)
  
1995
 
40 years
Pine City C-Store - Pine City, MN
  
298
   
83
   
357
   
12
   
83
   
369
   
452
   
(85
)
  
2003
 
40 years
Pine City Evergreen Square - Pine City, MN
  
1,831
   
154
   
2,646
   
582
   
385
   
2,997
   
3,382
   
(792
)
  
2003
 
40 years
Rochester Maplewood Square - Rochester, MN(1)
  
0
   
3,275
   
8,610
   
1,399
   
3,652
   
9,632
   
13,284
   
(2,924
)
  
1999
 
40 years
St. Cloud Westgate - St. Cloud, MN
  
3,197
   
950
   
5,535
   
1,614
   
973
   
7,126
   
8,099
   
(1,237
)
  
2004
 
40 years
Weston Retail - Weston, WI
  
0
   
79
   
1,575
   
27
   
80
   
1,601
   
1,681
   
(369
)
  
2003
 
40 years
Weston Walgreens - Weston, WI
  
3,124
   
66
   
1,718
   
671
   
67
   
2,388
   
2,455
   
(354
)
  
2006
 
40 years
Total Commercial Retail
 
$
48,050
  
$
19,056
  
$
84,178
  
$
24,404
  
$
20,960
   
106,678
  
$
127,638
  
$
(23,797
)
    
  
 
                                    
                   
Subtotal
 
$
1,046,515
  
$
182,115
  
$
1,440,952
  
$
268,942
  
$
196,998
  
$
1,695,011
  
$
1,892,009
  
$
(373,490
)
    
  

2012 Annual Report F-41

INVESTORS REAL ESTATE TRUST AND SUBSIDIARIES
April 30, 2012
Schedule III - REAL ESTATE AND ACCUMULATED DEPRECIATION (in thousands)
 
 
  
Initial Cost to Company
  
  
Gross amount at which carried at
close of period
  
  
 
   
Description
 
Encumbrances(a)
  
Land
  
Buildings &
Improvements
  
Costs capitalized
subsequent to
acquisition
  
Land
  
Buildings &
Improvements
  
Total
  
Accumulated
Depreciation
  
Date of
Construction
or Acquisition
 
Life on which
depreciation in
latest income
statement is
computed
Unimproved Land
 
  
  
  
  
  
  
  
  
 
                  
Bismarck 2130 S 12th St - Bismarck, ND
 
$
0
  
$
576
  
$
0
  
$
13
  
$
589
  
$
0
  
$
589
  
$
0
   
2008
 
 
Bismarck 700 E Main - Bismarck, ND
  
0
   
314
   
0
   
557
   
871
   
0
   
871
   
0
   
2008
 
 
Eagan Unimproved Land - Eagan, MN
  
0
   
423
   
0
   
0
   
423
   
0
   
423
   
0
   
2006
 
 
Georgetown Square - Grand Chute, WI
  
2,174
   
1,860
   
0
   
0
   
1,860
   
0
   
1,860
   
0
   
2006
 
 
Kalispell Unimproved Land - Kalispell, MT
  
0
   
1,400
   
0
   
24
   
1,411
   
13
   
1,424
   
0
   
2003
 
 
Monticello Unimproved Land - Monticello, MN
  
0
   
115
   
0
   
2
   
117
   
0
   
117
   
0
   
2006
 
 
Renaissance Heights - Williston, ND
  
0
   
4,600
   
0
   
0
   
4,600
   
0
   
4,600
   
0
   
2012
 
 
River Falls Unimproved Land - River Falls, WI
  
0
   
176
   
0
   
4
   
179
   
1
   
180
   
0
   
2003
 
 
Urbandale Unimproved Land - Urbandale, IA
  
0
   
5
   
0
   
109
   
114
   
0
   
114
   
0
   
2009
 
 
Weston Unimproved Land - Weston, WI
  
0
   
812
   
0
   
0
   
812
   
0
   
812
   
0
   
2006
 
 
Total Unimproved Land
 
$
2,174
  
$
10,281
  
$
0
  
$
709
  
$
10,976
  
$
14
  
$
10,990
  
$
0
     
  
 
                                    
                   
Development in Progress
                                    
                  
1st Avenue Building - Minot, ND
 
$
0
  
$
0
  
$
0
  
$
321
  
$
0
  
$
321
  
$
321
  
$
0
   
1981
 
 
Chateau 2nd Floor Renovation - Minot, ND
  
0
   
0
   
0
   
1,407
   
0
   
1,407
   
1,407
   
0
   
1998
 
 
Jamestown Medical Office Building - Jamestown, ND
  
0
   
0
   
3
   
1,608
   
0
   
1,611
   
1,611
   
0
   
2012
 
 
Laramie 1072 Expansion - Laramie, WY
  
0
   
0
   
0
   
1,810
   
0
   
1,810
   
1,810
   
0
   
2009
 
 
Minot Arrowhead Outlot - Minot, ND
  
0
   
0
   
75
   
0
   
0
   
75
   
75
   
0
   
2011
 
 
Minot IPS - Minot, ND
  
0
   
416
   
63
   
1,771
   
416
   
1,834
   
2,250
   
0
   
2012
 
 
Quarry Ridge 2 - Rochester, MN
  
0
   
942
   
12,037
   
2,457
   
942
   
14,494
   
15,436
   
0
   
2011
 
 
Williston Garden - Williston, ND
  
0
   
700
   
154
   
3,835
   
700
   
3,989
   
4,689
   
0
   
2011
 
 
Total Development in Progress
 
$
0
  
$
2,058
  
$
12,332
  
$
13,209
  
$
2,058
  
$
25,541
  
$
27,599
  
$
0
     
  
 
                                    
                   
Total
 
$
1,048,689
  
$
194,454
  
$
1,453,284
  
$
282,860
  
$
210,032
  
$
1,720,566
  
$
1,930,598
  
$
(373,490
)
    
  

(a)
Amounts in this column are the mortgages payable balances as of April 30, 2012. These amounts do not include amounts owing under the Company's multi-bank line of credit or under the Company's construction loans.
(1)
As of April 30, 2012, this property was included in the collateral pool securing the Company's $60.0 million multi-bank line of credit. The Company may add and remove eligible properties from the collateral pool if certain minimum collateral requirements are satisfied. Advances under the facility may not exceed 60% of the value of properties provided as security.
2012 Annual Report F-42

INVESTORS REAL ESTATE TRUST AND SUBSIDIARIES
April 30, 2012
Schedule III
REAL ESTATE AND ACCUMULATED DEPRECIATION
Reconciliations of total real estate carrying value for the three years ended April 30, 2012, 2011, and 2010 are as follows:
 
 
(in thousands)
 
 
 
2012
  
2011
  
2010
 
 
 
  
  
 
Balance at beginning of year
 
$
1,770,798
  
$
1,800,519
  
$
1,729,585
 
Additions during year
            
Multi-Family Residential
  
47,433
   
4,210
   
4,270
 
Commercial Office
  
0
   
6,836
   
2,096
 
Commercial Medical
  
47,408
   
19,249
   
38,125
 
Commercial Industrial
  
0
   
3,914
   
3,066
 
Commercial Retail
  
2,316
   
7,169
   
0
 
Improvements and Other
  
35,176
   
23,183
   
29,343
 
 
  
1,903,131
   
1,865,080
   
1,806,485
 
Deductions during year
            
Cost of real estate sold
  
(3,498
)
  
(86,994
)
  
(1,217
)
Impairment charge
  
(127
)
  
0
   
(1,678
)
Other(A)
  
(7,497
)
  
(7,288
)
  
(3,071
)
Balance at close of year(B)
 
$
1,892,009
  
$
1,770,798
  
$
1,800,519
 
Reconciliations of accumulated depreciation/amortization for the three years ended April 30, 2012, 2011, and 2010, are as follows:
 
 
(in thousands)
 
 
 
2012
  
2011
  
2010
 
 
 
  
  
 
Balance at beginning of year
 
$
328,952
  
$
308,626
  
$
262,871
 
Additions during year
            
Provisions for depreciation
  
51,093
   
49,375
   
48,152
 
Deductions during year
            
Accumulated depreciation on real estate sold
  
(758
)
  
(25,366
)
  
(737
)
Other(C)
  
(5,797
)
  
(3,683
)
  
(1,660
)
Balance at close of year
 
$
373,490
  
$
328,952
  
$
308,626
 
(A)Consists of miscellaneous disposed assets and assets moved to Development in Progress.
(B)The net basis of the Company's real estate investments for Federal Income Tax purposes was approximately $1.4 billion, $1.2 billion and $1.3 billion at April 30, 2012, 2011 and 2010, respectively.
(C)Consists of miscellaneous disposed assets.