IRET Adds Two Vice Presidents of Operations

MINNEAPOLIS, Minn., March 22, 2018 /PRNewswire/ -- IRET (NYSE: IRET) announced today it promoted Justin Hammer and hired Shawnee Tharp to fill the newly-created roles of Vice President of Operations effective immediately.

"With the completion of IRET's transition to a focused multifamily company, I am excited to partner with Justin and Shawnee to enhance our resident experiences and drive operational improvements," said Andrew Martin, Executive Vice President of Operations.  "Both of them bring a wealth of knowledge and skill to these roles and proven track records of success in operations and leading property management teams."

Mr. Hammer joined IRET in 2009 as Regional Manager for the Minot, ND, region.  He was promoted to Director of IRET's Western Division in 2012.  During his tenure at IRET, Mr. Hammer has played a key role in the expansion of the portfolio and the implementation of several initiatives that improved performance and scalability.

Ms. Tharp served as Group Vice President of Operations for Essex Property Trust until 2016 where she was instrumental in expanding the operations platform during a period of dramatic growth, resulting in responsibility for nearly 240 communities and 60,000 apartment homes.  Ms. Tharp most recently served as Vice President of Operations and Asset Management at Lifestyle Communities.

About IRET

IRET is a real estate company focused on the ownership, management, acquisition, redevelopment, and development of multifamily apartment communities.  As of January 31, 2018, IRET owned interests in 89 multifamily properties consisting of 13,786 apartment homes.  IRET's common shares and Series C preferred shares are publicly traded on the New York Stock Exchange (NYSE symbols: IRET and IRET PRC, respectively).  IRET's press releases and supplemental information are available on its website at www.iretapartments.com or by calling Investor Relations at 701-837-7104.

Contact Information
Matthew Volpano
Senior Vice President – Capital Markets
Phone: 701-837-7104
E-mail: IR@iret.com

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SOURCE IRET