INVESTORS REAL ESTATE TRUST Underwriting AgreementInvestors Real Estate Trust • August 3rd, 2012 • Investors Real Estate Trust • Real estate investment trusts • New York
Investors Real Estate Trust, a North Dakota real estate investment trust (the “Company”), proposes, subject to the terms and conditions stated herein, to issue and sell to the several Underwriters named in Schedule I hereto (the “Underwriters”), an aggregate of 4,000,000 shares (the “Firm Shares”) of its 7.95% Series B Cumulative Redeemable Preferred Shares of Beneficial Interest (Liquidation Preference $25.00 per Share), no par value per share (the “Series B Preferred Shares”). In addition, the Company has agreed to sell to the Underwriters, upon the terms and conditions stated herein, up to an additional 600,000 Series B Preferred Shares (the “Additional Shares”) to cover over-allotments by the Underwriters, if any. The Firm Shares and the Additional Shares are collectively referred to in this Agreement as the “Shares.” Robert W. Baird & Co. Incorporated and RBC Capital Markets, LLC are acting as the representatives of the several Underwriters and in such capacity are referred to in
