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The following is an excerpt from a 10-K SEC Filing, filed by INVESTORS REAL ESTATE TRUST on 7/14/2006.
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INVESTORS REAL ESTATE TRUST - 10-K - 20060714 - AUDITORS_OPINION

REPORT OF INDEPENDENT REGISTERED PUBLIC ACCOUNTING FIRM  

To the Board of Trustees and Shareholders of
Investors Real Estate Trust
Minot, North Dakota 

We have audited the consolidated financial statements of Investors Real Estate Trust and subsidiaries (the “Company”) as of April 30, 2006 and 2005, and for each of the three fiscal years in the period ended April 30, 2006, management's assessment of the effectiveness of the Company's internal control over financial reporting as of April 30, 2006, and the effectiveness of the Company's internal control over financial reporting as of April 30, 2006, and have issued our reports thereon dated July 6, 2006; such reports are included elsewhere in the Form 10-K. Our audits also included the consolidated financial statement schedules of the Company listed in the table of contents to the consolidated financial statements. These consolidated financial statement schedules are the responsibility of the Company's management. Our responsibility is to express an opinion based on our audits. In our opinion, such consolidated financial statement schedules, when considered in relation to the basic consolidated financial statements taken as a whole, present fairly, in all material respects, the information set forth therein. 

/s/ DELOITTE & TOUCHE LLP 

Minneapolis, Minnesota
July 6, 2006

2006 Annual Report F-31


Table of Contents

  INVESTORS REAL ESTATE TRUST AND SUBSIDIARIES
April 30, 2006  

Schedule III
REAL ESTATE AND ACCUMULATED DEPRECIATION (in thousands)  

MULTI-FAMILY RESIDENTIAL

 

INITIAL COST TO COMPANY

COST CAPITALIZATION
 SUBSEQUENT TO ACQUISITION

ENCUMBRANCES

LAND

BUILDINGS & IMPROVEMENTS

IMPROVEMENTS

CARRYING COSTS

 

 

 

 

 

 

 

 

 

 

 

405 Grant Avenue (Lonetree) - Harvey, ND

$

105

$

14

$

248

$

5

$

0

408 1st Street SE - Minot, ND

 

0

 

10

 

37

 

1

 

0

Applewood On The Green - Omaha, NE

 

7,182

 

706

 

11,384

 

134

 

95

Boulder Court - Eagan, MN

 

4,599

 

1,067

 

5,677

 

214

 

0

Brookfield Village Apartments - Topeka, KS

 

5,119

 

509

 

7,104

 

110

 

0

Candlelight Apartments - Fargo, ND

 

1,491

 

80

 

1,626

 

40

 

0

Canyon Lake Apartments - Rapid City, SD

 

2,839

 

305

 

3,946

 

22

 

73

Castle Rock - Billings, MT

 

3,575

 

736

 

5,553

 

165

 

0

Chateau Apartments - Minot, ND

 

1,892

 

122

 

2,638

 

84

 

0

Clearwater Apartments - Boise, ID

 

2,392

 

585

 

3,369

 

32

 

0

Colonial Villa - Burnsville, MN

 

9,198

 

2,401

 

12,039

 

559

 

0

Colton Heights Properties - Minot, ND

 

606

 

80

 

931

 

17

 

0

Cottonwood Lake I - Bismarck, ND

 

2,524

 

264

 

4,303

 

28

 

38

Cottonwood Lake II - Bismarck, ND

 

2,643

 

264

 

4,052

 

22

 

37

Cottonwood Lake III - Bismarck, ND

 

2,478

 

264

 

4,493

 

19

 

40

Country Meadows I - Billings, MT

 

2,241

 

246

 

4,033

 

18

 

39

Country Meadows II - Billings, MT

 

2,225

 

246

 

4,148

 

13

 

81

Crestview Apartments - Bismarck, ND

 

3,361

 

235

 

5,037

 

90

 

0

Crown Colony Apartments - Topeka, KS

 

6,817

 

620

 

10,668

 

95

 

0

Dakota Hill At Valley Ranch - Irving, TX

 

23,883

 

3,650

 

34,976

 

256

 

0

East Park Apartments - Sioux Falls, SD

 

1,671

 

115

 

2,580

 

43

 

0

Forest Park Estates - Grand Forks, ND

 

6,717

 

810

 

7,499

 

375

 

0

Heritage Manor - Rochester, MN

 

5,034

 

403

 

7,743

 

95

 

0

Jenner Properties - Grand Forks, ND

 

1,731

 

201

 

1,868

 

38

 

0

Kirkwood Manor - Bismarck, ND

 

2,080

 

449

 

3,516

 

69

 

0

Lancaster Place - St. Cloud, MN

 

1,413

 

289

 

3,209

 

181

 

0

Legacy Buildings I & II - Grand Forks, ND

 

3,241

 

908

 

6,357

 

69

 

112

Legacy Building III - Grand Forks, ND

 

2,182

 

454

 

3,359

 

28

 

112

Legacy Building IV - Grand Forks, ND

 

2,568

 

252

 

6,519

 

32

 

0

Legacy Building V - Grand Forks, ND

 

0

 

137

 

2,634

 

56

 

0

Legacy Building VI - Grand Forks, ND

 

0

 

137

 

2,709

 

123

 

0

Legacy Building VII - Grand Forks, ND

 

0

 

137

 

2,307

 

407

 

0

Magic City Apartments - Minot, ND

 

2,994

 

412

 

4,629

 

182

 

0

Meadows Phase I - Jamestown, ND

 

940

 

57

 

1,787

 

20

 

0

Meadows Phase II - Jamestown, ND

 

940

 

55

 

1,876

 

11

 

0

Meadows Phase III - Jamestown, ND

 

1,070

 

56

 

2,147

 

6

 

0

Miramont Apartments - Fort Collins , CO

 

11,047

 

1,470

 

13,518

 

123

 

0

Monticello Apartments - Monticello, MN

 

3,304

 

490

 

3,803

 

83

 

0

Neighborhood Apartments -
Colorado Springs, CO

 

6,227

 

1,034

 

11,383

 

292

 

0

North Pointe - Bismarck, ND

 

1,517

 

144

 

2,157

 

62

 

124

Oakmont Apartments - Sioux Falls, SD

 

3,904

 

423

 

4,889

 

11

 

27

Oakwood - Sioux Falls, SD

 

3,667

 

543

 

5,616

 

123

 

0

Olympic Village - Billings, MT

 

7,979

 

1,164

 

11,277

 

155

 

0

Olympik Village Apartments - Rochester, MN

 

5,240

 

1,034

 

6,126

 

136

 

0

Oxbow - Sioux Falls, SD

 

3,996

 

404

 

4,870

 

91

 

0

Park East Apartments - Fargo, ND

 

3,802

 

83

 

5,343

 

83

 

0

Park Meadows I - Waite Park, MN

 

2,782

 

572

 

3,819

 

126

 

0

Park Meadows II & III - Waite Park, MN

 

7,404

 

572

 

8,238

 

221

 

0

Pebble Springs - Bismarck, ND

 

389

 

7

 

794

 

10

 

0

Pinecone Apartments - Fort Collins , CO

 

10,255

 

905

 

13,036

 

109

 

0

Pinehurst Apartments - Billings, MT

 

472

 

72

 

704

 

12

 

6

Pointe West - Rapid City, SD

 

2,032

 

240

 

4,413

 

34

 

0

Prairie Winds Apartments - Sioux Falls, SD

 

1,214

 

144

 

1,986

 

60

 

0

Prairiewood Meadows - Fargo, ND

 

1,784

 

280

 

2,918

 

134

 

0

Ridge Oaks - Sioux City, IA

 

2,741

 

178

 

4,757

 

65

 

0

Rimrock Apartments - Billings, MT

 

2,363

 

330

 

3,714

 

42

 

0

2006 Annual Report F-32


Table of Contents

INVESTORS REAL ESTATE TRUST AND SUBSIDIARIES
April 30, 2006

Schedule III
REAL ESTATE AND ACCUMULATED DEPRECIATION (in thousands)  

MULTI-FAMILY RESIDENTIAL - continued

 

INITIAL COST TO COMPANY

COST CAPITALIZATION
 SUBSEQUENT TO ACQUISITION

ENCUMBRANCES

LAND

BUILDINGS & IMPROVEMENTS

IMPROVEMENTS

CARRYING COSTS

 

 

 

 

 

 

 

 

 

 

 

Rocky Meadows - Billings, MT

$

3,358

$

656

$

6,113

$

41

$

103

Sherwood Apartments - Topeka, KS

 

10,226

 

1,150

 

15,586

 

178

 

0

Southbrook & Mariposa - Topeka, KS

 

3,339

 

399

 

5,149

 

47

 

0

South Pointe - Minot, ND

 

6,765

 

550

 

9,658

 

123

 

403

Southview Apartments - Minot, ND

 

802

 

185

 

619

 

18

 

0

Southwind Apartments - Grand Forks, ND

 

3,660

 

400

 

6,064

 

122

 

0

Sunset Trail Phase I - Rochester, MN

 

4,123

 

168

 

6,950

 

9

 

0

Sunset Trail Phase II - Rochester, MN

 

4,033

 

168

 

7,434

 

8

 

0

Sweetwater Properties -
 Devils Lake & Grafton, ND

 

810

 

90

 

1,712

 

44

 

0

Sycamore Village Apartments - Sioux Falls, SD

 

940

 

100

 

1,472

 

29

 

0

Terrace On The Green - Moorhead, MN

 

1,498

 

24

 

2,802

 

79

 

0

Thomasbrook Apartments - Lincoln, NE

 

5,518

 

600

 

10,053

 

282

 

0

Valley Park Manor - Grand Forks, ND

 

3,713

 

293

 

5,277

 

219

 

0

Village Green - Rochester, MN

 

1,761

 

234

 

2,236

 

99

 

0

West Stonehill - Waite Park, MN

 

6,700

 

938

 

12,470

 

277

 

0

Westwood Park - Bismarck, ND

 

1,085

 

161

 

2,346

 

84

 

0

Winchester - Rochester, MN

 

4,310

 

748

 

5,590

 

326

 

0

Woodridge Apartments - Rochester, MN

 

3,158

 

370

 

6,771

 

82

 

0

TOTAL MULTI-FAMILY RESIDENTIAL

$

265,669

$

34,599

$

408,664

$

7,698

$

1,290

 

 

 

 

 

 

 

 

 

 

 

OFFICE BUILDINGS

 

 

 

 

 

 

 

 

 

 

1st Avenue Building - Minot , ND

$

0

$

30

$

525

$

21

$

0

17 South Main - Minot, ND

 

0

 

15

 

95

 

0

 

0

401 South Main - Minot, ND

 

0

 

71

 

559

 

6

 

0

2030 Cliff Road - Eagan, MN

 

564

 

146

 

837

 

0

 

0

7800 W Brown Deer Road - Milwaukee, WI

 

6,119

 

1,455

 

9,567

 

0

 

0

American Corporate Center -
 Mendota Heights, MN

 

10,496

 

1,331

 

16,329

 

1,423

 

0

Ameritrade - Omaha, NE

 

4,902

 

327

 

8,022

 

0

 

0

Benton Business Park - Sauk Rapids, MN

 

946

 

188

 

1,287

 

3

 

0

Bloomington Business Plaza -
Bloomington, MN

 

4,629

 

1,300

 

6,438

 

222

 

39

Brenwood - Minnetonka, MN

 

8,229

 

1,762

 

12,862

 

416

 

0

Brook Valley I - La Vista, NE

 

1,557

 

347

 

1,671

 

26

 

0

Burnsville Bluffs II - Burnsville, MN

 

1,437

 

300

 

2,660

 

253

 

0

Cold Spring Center - St. Cloud, MN

 

4,674

 

588

 

8,022

 

25

 

0

Crosstown Centre - Eden Prairie , MN

 

16,068

 

2,884

 

14,811

 

165

 

0

Dewey Hill Business Center - Edina, MN

 

2,866

 

985

 

4,173

 

39

 

0

Golden Hills Office Center - Golden Valley, MN

 

15,000

 

3,018

 

19,056

 

273

 

0

Great Plains - Fargo, ND

 

8,025

 

126

 

15,249

 

0

 

0

Greenwood Office - Greenwood, MN

 

537

 

148

 

832

 

1

 

0

Highlands Ranch - Highlands Ranch, CO

 

9,590

 

1,437

 

9,803

 

279

 

0

Interlachen Corporate Center - Edina, MN

 

10,659

 

1,650

 

14,885

 

0

 

191

Mendota Office Center I -
Mendota Heights, MN

 

4,162

 

1,570

 

5,506

 

70

 

0

Mendota Office Center II -
Mendota Heights, MN

 

6,665

 

1,074

 

10,558

 

91

 

0

Mendota Office Center III -
Mendota Heights, MN

 

3,807

 

1,501

 

5,247

 

27

 

0

Mendota Office Center IV -
Mendota Heights, MN

 

4,943

 

1,385

 

7,320

 

0

 

0

Metris - Duluth, MN

 

1,797

 

336

 

2,203

 

0

 

0

Minnesota National Bank - Duluth, MN

 

1,195

 

287

 

1,456

 

2

 

0

Minnetonka Office Building - Minnetonka, MN

 

0

 

40

 

361

 

0

 

0

Nicollett VII - Burnsville, MN

 

4,401

 

429

 

6,955

 

3

 

0

Northgate I - Maple Grove, MN

 

6,198

 

1,063

 

6,392

 

3

 

0

Northgate II - Maple Grove, MN

 

1,421

 

358

 

2,014

 

53

 

0

Northpark Corporate Center - Arden Hills, MN

 

0

 

2,567

 

14,584

 

0

 

0

2006 Annual Report F-33


Table of Contents

INVESTORS REAL ESTATE TRUST AND SUBSIDIARIES
April 30, 2006

Schedule III
REAL ESTATE AND ACCUMULATED DEPRECIATION (in thousands)

OFFICE BUILDINGS - continued

 

INITIAL COST TO COMPANY

COST CAPITALIZATION
 SUBSEQUENT TO ACQUISITION

ENCUMBRANCES

LAND

BUILDINGS & IMPROVEMENTS

IMPROVEMENTS

CARRYING COSTS

 

 

 

 

 

 

 

 

 

 

 

Pillsbury Business Center - Bloomington, MN

$

1,093

$

284

$

1,610

$

0

$

0

Plaza VII - Boise, ID

 

1,340

 

300

 

3,145

 

46

 

0

Plymouth I - Plymouth, MN

 

1,389

 

530

 

1,142

 

0

 

0

Plymouth II - Plymouth, MN

 

1,389

 

367

 

1,273

 

0

 

0

Plymouth III - Plymouth, MN

 

1,710

 

507

 

1,505

 

0

 

0

Plymouth IV & V - Plymouth, MN

 

8,555

 

641

 

14,248

 

0

 

0

Prairie Oak Business Center - Eden Prairie, MN

 

2,265

 

531

 

4,174

 

545

 

0

Rapid City, SD - 900 Concourse Drive -
Rapid City, SD

 

3,613

 

285

 

6,762

 

41

 

0

Southeast Tech Center - Eagan, MN

 

3,844

 

560

 

5,776

 

2

 

0

Spring Valley IV - Omaha, NE

 

927

 

178

 

916

 

19

 

0

Spring Valley V - Omaha, NE

 

1,019

 

212

 

1,123

 

29

 

0

Spring Valley X - Omaha, NE

 

945

 

180

 

1,024

 

22

 

0

Spring Valley XI - Omaha, NE

 

927

 

143

 

1,094

 

22

 

0

TCA Building - Eagan, MN

 

9,814

 

627

 

9,258

 

18

 

0

Three Paramount Plaza - Bloomington, MN

 

4,594

 

1,261

 

6,647

 

136

 

0

Thresher Square - Minneapolis, MN

 

0

 

1,095

 

10,304

 

145

 

9

UHC Office - International Falls, MN

 

1,523

 

119

 

2,378

 

8

 

0

US Bank Financial Center - Bloomington, MN

 

15,243

 

3,117

 

13,350

 

131

 

0

Viromed - Eden Prairie, MN

 

2,056

 

666

 

4,197

 

1

 

0

Wayroad Corporate - Minnetonka, MN

 

4,165

 

530

 

4,992

 

25

 

20

Wells Fargo Center - St Cloud, MN

 

7,634

 

869

 

8,414

 

428

 

0

West River Business Park - Waite Park, MN

 

946

 

235

 

1,218

 

1

 

0

Westgate - Boise, ID

 

7,400

 

1,000

 

10,738

 

493

 

0

Wirth Corporate Center - Golden Valley, MN

 

4,873

 

970

 

7,795

 

192

 

29

TOTAL OFFICE BUILDINGS

$

228,151

$

43,925

$

333,362

$

5,705

$

288

 

 

 

 

 

 

 

 

 

 

 

MEDICAL

 

 

 

 

 

 

 

 

 

 

2800 Medical Building - Minneapolis, MN

$

6,523

$

930

$

7,135

$

8

$

0

6517 Drew Avenue South - Edina, MN

 

0

 

351

 

662

 

25

 

0

Abbott Northwest - Sartell, MN

 

7,433

 

0

 

12,653

 

0

 

0

Airport Medical - Bloomington, MN

 

2,703

 

0

 

4,678

 

0

 

0

Denfeld Clinic - Duluth, MN

 

2,282

 

501

 

2,614

 

(16)

 

0

Edgewood Vista - Bismarck, ND

 

7,382

 

511

 

9,193

 

1

 

0

Edgewood Vista - Brainerd, MN

 

7,296

 

587

 

8,999

 

0

 

0

Edgewood Vista - Duluth, MN

 

3,537

 

390

 

11,319

 

0

 

0

Edgewood Vista - Fremont, NE

 

283

 

56

 

496

 

0

 

0

Edgewood Vista - Hastings, NE

 

292

 

14

 

558

 

0

 

0

Edgewood Vista - Hermantown, MN

 

8,455

 

719

 

10,517

 

0

 

0

Edgewood Vista - Kalispell, MT

 

298

 

70

 

518

 

0

 

0

Edgewood Vista - Missoula, MT

 

527

 

109

 

853

 

0

 

0

Edgewood Vista - Omaha, NE

 

338

 

89

 

552

 

0

 

0

Edgewood Vista - Spearfish, SD

 

4,596

 

315

 

5,806

 

0

 

0

Edgewood Vista - Virginia, MN

 

4,583

 

246

 

6,766

 

0

 

58

Edgewood Vista Phase II - Virginia, MN

 

3,319

 

0

 

5,111

 

0

 

0

Fresenius - Duluth, MN

 

1,097

 

50

 

1,522

 

0

 

0

Garden View - St. Paul, MN

 

4,071

 

0

 

7,588

 

0

 

0

Gateway Clinic - Sandstone, MN

 

1,322

 

66

 

1,699

 

0

 

0

Health East St John & Woodwinds -
Maplewood & Woodbury, MN

 

16,894

 

3,238

 

18,363

 

0

 

0

High Pointe Health Campus - Lake Elmo, MN

 

5,297

 

1,305

 

10,723

 

3

 

0

Mariner Clinic - Superior, WI

 

2,890

 

0

 

3,820

 

(32)

 

0

Nebraska Orthopaedic Hospital - Omaha, NE

 

14,424

 

0

 

20,512

 

0

 

0

Park Dental - Brooklyn Center, MN

 

1,550

 

185

 

2,767

 

0

 

0

Pavilion I - Duluth, MN

 

7,616

 

1,245

 

8,899

 

0

 

0

Pavilion II - Duluth, MN

 

14,014

 

2,715

 

16,610

 

0

 

0

Ritchie Medical Plaza - St Paul, MN

 

7,808

 

1,615

 

7,851

 

34

 

0

Southdale 6525 France - Edina, MN

 

9,500

 

0

 

13,047

 

699

 

0

Southdale 6545 France - Edina, MN

 

22,862

 

3,500

 

30,209

 

305

 

0

Stevens Point - Stevens Point, WI

 

0

 

133

 

3,888

 

0

 

0

 

2006 Annual Report F-34


Table of Contents

INVESTORS REAL ESTATE TRUST AND SUBSIDIARIES
April 30, 2006

Schedule III
REAL ESTATE AND ACCUMULATED DEPRECIATION (in thousands)

 

 

INITIAL COST TO COMPANY

COST CAPITALIZATION
 SUBSEQUENT TO ACQUISITION

MEDICAL - continued

ENCUMBRANCES

LAND

BUILDINGS &
IMPROVEMENTS

IMPROVEMENTS

CARRYING
COSTS

 

 

 

 

 

 

 

 

 

 

 

Wedgewood Sweetwater - Lithia Springs, GA

$

1,153

$

334

$

4,288

$

64

 

0

Wells Clinic - Hibbing, MN

 

2,016

 

162

 

2,499

 

0

 

0

TOTAL MEDICAL

$

172,361

$

19,436

$

242,715

$

1,091

$

58

 

 

 

 

 

 

 

 

 

 

 

INDUSTRIAL

 

 

 

 

 

 

 

 

 

 

API Building - Duluth, MN

$

1,218

$

115

$

1,608

$

0

$

0

Bodycote Industrial Building - Eden Prairie, MN

 

1,478

 

198

 

1,954

 

0

 

0

Dixon Avenue Industrial Park - Des Moines, IA

 

8,423

 

1,439

 

11,541

 

111

 

0

Lexington Commerce Center - Eagan, MN

 

3,092

 

453

 

5,459

 

263

 

0

Lighthouse - Duluth, MN

 

1,279

 

90

 

1,794

 

0

 

0

Metal Improvement Company -
New Brighton, MN

 

1,364

 

240

 

2,205

 

1

 

4

Stone Container - Fargo, ND

 

4,123

 

440

 

6,612

 

0

 

89

Stone Container - Roseville, MN

 

4,714

 

810

 

7,275

 

0

 

165

Waconia Industrial Building - Waconia, MN

 

0

 

165

 

1,502

 

238

 

0

Wilson's Leather - Brooklyn Park, MN

 

8,222

 

1,368

 

11,700

 

737

 

0

Winsted Industrial Building - Winsted, MN

 

0

 

100

 

907

 

0

 

0

TOTAL INDUSTRIAL

$

33,913

$

5,418

$

52,557

$

1,350

$

258

 

 

 

 

 

 

RETAIL

 

 

 

 

 

 

 

 

 

 

Anoka Strip Center - Anoka, MN

$

453

$

123

 

610

$

0

$

0

Buffalo Strip Center - Buffalo, MN

 

293

 

131

 

345

 

45

 

0

Burnsville 1 Strip Center - Burnsville, MN

 

615

 

208

 

788

 

1

 

0

Burnsville 2 Strip Center - Burnsville, MN

 

489

 

291

 

498

 

15

 

0

Champlin South Pond - Champlin, MN

 

2,254

 

842

 

2,705

 

24

 

0

Chan West Village - Chanhassen, MN

 

15,114

 

5,035

 

15,769

 

14

 

0

Duluth Denfeld Retail - Duluth, MN

 

3,421

 

276

 

4,708

 

0

 

0

Duluth Tool Crib - Duluth, MN

 

1,036

 

130

 

1,803

 

0

 

0

Eagan 1 Retail Center - Eagan, MN

 

1,635

 

196

 

319

 

0

 

0

Eagan 2 Retail Center - Eagan, MN

 

0

 

291

 

1,068

 

2

 

0

Eagan 3 C Store - Eagan, MN

 

0

 

214

 

569

 

1

 

0

East Grand Station - East Grand Forks, MN

 

575

 

150

 

1,242

 

0

 

0

Fargo Express Center - Fargo, ND

 

1,249

 

305

 

1,129

 

4

 

0

Fargo Express SC Pad 1 - Fargo, ND

 

0

 

69

 

299

 

0

 

0

Faribault Checker Auto - Faribault, MN

 

206

 

83

 

258

 

0

 

0

Forest Lake Auto - Forest Lake, MN

 

0

 

50

 

448

 

3

 

0

Forest Lake Westlake Center - Forest Lake, MN

 

5,229

 

2,397

 

5,729

 

11

 

0

Glencoe C Store - Glencoe, MN

 

0

 

52

 

478

 

2

 

0

Grand Forks Carmike - Grand Forks, ND

 

2,192

 

184

 

2,295

 

0

 

67

Grand Forks Medpark Mall - Grand Forks, ND

 

3,122

 

681

 

5,008

 

8

 

0

Howard Lake C Store - Howard Lake, MN

 

231

 

22

 

359

 

3

 

0

Jamestown Buffalo Mall - Jamestown, ND

 

2,297

 

566

 

3,657

 

332

 

0

Jamestown Business Center - Jamestown, ND

 

840

 

297

 

1,150

 

65

 

0

Kalispell Retail Center - Kalispell, MT

 

1,703

 

250

 

3,167

 

53

 

0

Kentwood Thomasville Furniture -
Kentwood, MI

 

977

 

225

 

1,896

 

0

 

0

Ladysmith Pamida - Ladysmith, WI

 

1,176

 

89

 

1,411

 

0

 

0

Lakeville Strip Center - Lakeville, MN

 

1,248

 

121

 

1,908

 

(136)

 

0

Livingston Pamida - Livingston, MT

 

1,398

 

227

 

1,573

 

0

 

0

Long Prairie C Store - Long Prairie, MN

 

0

 

39

 

662

 

(199)

 

0

Minot Arrowhead SC - Minot, ND

 

1,112

 

100

 

3,095

 

392

 

0

Minot Plaza - Minot, ND

 

691

 

50

 

524

 

11

 

0

Monticello C Store - Monticello, MN

 

0

 

86

 

777

 

0

 

0

Moundsview Bakery - Mounds View, MN

 

0

 

47

 

245

 

0

 

0

Omaha Barnes & Noble - Omaha, NE

 

3,236

 

600

 

3,099

 

0

 

0

Paynesville C Store - Paynesville, MN

 

0

 

31

 

336

 

2

 

0

Pine City C Store - Pine City, MN

 

361

 

83

 

359

 

0

 

0

Pine City Evergreen Square - Pine City, MN

 

2,218

 

154

 

2,820

 

2

 

0

Prior Lake 1 Strip Center - Prior Lake, MN

 

884

 

202

 

777

 

0

 

0

Prior Lake 3 Strip Center - Prior Lake, MN

 

0

 

48

 

435

 

1

 

0

   

2006 Annual Report F-35


Table of Contents

INVESTORS REAL ESTATE TRUST AND SUBSIDIARIES
April 30, 2006

Schedule III
REAL ESTATE AND ACCUMULATED DEPRECIATION (in thousands)

 

 

INITIAL COST TO COMPANY

COST CAPITALIZATION
 SUBSEQUENT TO ACQUISITION

RETAIL - continued

ENCUMBRANCES

LAND

BUILDINGS & IMPROVEMENTS

IMPROVEMENTS

CARRYING COSTS

 

 

 

 

 

 

 

 

 

 

 

Rochester Maplewood Square - Rochester, MN

$

5,199

$

3,275

$

8,639

$

9

$

0

Schofield Plaza SC - Schofield, WI

 

0

 

175

 

1,601

 

(78)

 

0

St. Cloud Westgate SC - St. Cloud, MN

 

4,093

 

1,219

 

5,560

 

8

 

0

Wilmar Sam Goody - Willmar, MN

 

0

 

170

 

240

 

1

 

0

Winsted C Store - Winsted, MN

 

249

 

35

 

376

 

(207)

 

0

TOTAL RETAIL

$

65,796

$

19,819

$

90,734

$

389

$

67

SUBTOTAL

$

765,890

$

123,197

$

1,128,032

$

16,233

$

1,961

 

 

 

 

 

 

 

 

 

 

 

UNDEVELOPED LAND

 

 

 

 

 

 

 

 

 

 

17 S Main 2nd Floor - Minot, ND

$

0

$

0

$

12

$

0

$

0

Cottonwood Lake IV - Bismarck, ND

 

0

 

264

 

1

 

2

 

0

Eagan Vacant Land - Eagan, MN

 

0

 

423

 

0

 

0

 

0

IGH Vacant Land - Inver Grove Heights, MN

 

0

 

560

 

4

 

0

 

0

Kalispell Vacant Land - Kalispell, MT

 

0

 

1,400

 

15

 

6

 

0

Long Prairie Vacant Land - Long Prairie, MN

 

0

 

150

 

6

 

6

 

0

River Falls Vacant Land - River Falls, WI

 

0

 

200

 

5

 

0

 

0

Schofield Plaza Undeveloped - Schofield, WI

 

0

 

79

 

0

 

1,559

 

0

Stevens Point Undeveloped - Stevens Point, WI

 

0

 

310

 

0

 

173

 

0

TOTAL UNDEVELOPED LAND

$

0

$

3,386

$

43

$

1,746

$

0

 

 

 

 

 

 

 

 

 

 

 

TOTAL

$

765,890

$

126,583

$

1,128,075

$

17,979

$

1,961

 

2006 Annual Report F-36


Table of Contents
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