REPORT ON

Investors Real
Estate Trust
SUBMITted by - BITTU JAISWAL
Civil Engineering
5th Semester
Roll Number- 13001316079
 Conten
Title
ts
Undertaking
Page No.

Certificate
Introduction
Objective
Balance Sheet
Risks faced
CONCLUSION &
SUGGESTIONS 2
 UNDERTAKING
I declare that the work presented in this
project titled “REPORT ON
Investors Real Estate Trust”, submitted
to the Department of Civil Engg., Mr. T.T.
Roy Sir, Techno India Saltlake, for the
award of the Bachelor of Technology
degree in Civil Engineering, is my
original work. I have not plagiarized or
submitted the same work for the award
of any other degree. In case this
undertaking is found incorrect, I accept
that my degree may be unconditionally
withdrawn.

______________________________
(Bittu Jaiswal)
 CERTIFICATE
Certified that the work
contained in the project titled
“REPORT ON
Investors Real Estate Trust”,
by Bittu Jaiswal, has been
carried out under my
supervision and that this work
has not been submitted
elsewhere for a degree.

Prof. Tamal T. Roy

Dept. of Humanities
Techno India Saltlake
Investors Real Estate Trust (“we,” “us,” “IRET” or the “Company”) is a
self-advised equity REIT, organized under the
laws of North Dakota. Since our formation in 1970, our business has
consisted of owning and operating incomeproducing real estate
properties. We are structured as an Umbrella Partnership Real
Estate Investment Trust, or UPREIT,
and we conduct our day-to-day business operations through our
operating partnership, IRET Properties, a North Dakota
Limited Partnership (“IRET Properties” or the “Operating
Partnership”). Our investments mainly consist of multifamily
and healthcare properties located primarily in the Midwest states of
Minnesota and North Dakota. For the fiscal year
ended April 30, 2017, our real estate investments in these two
states accounted for 75.4% of our total gross revenue. Our
principal executive office is located in Minot, North Dakota. We also
have corporate offices in Minneapolis and St.
Cloud, Minnesota, and additional property management offices
located in the states where we own properties.
 Contd.

As of April 30, 2017, we owned interests in 129 properties that were

held for investment, consisting of:
(1) 87 multifamily properties, containing 12,885 apartment units
and having a total real estate investment amount, net of
accumulated depreciation of $1.0 billion,
and (2) 42 commercial properties, including 29 healthcare
properties, and office, retail and industrial properties containing a
total of approximately 2.6 million net rentable square feet, and
having a total real estate investment amount net of accumulated
depreciation of $309.1 million. We held for sale 13 multifamily
properties consisting of 327 units, 2 healthcare properties, and 2
retail properties as of April 30, 2017.
Our multifamily leases are generally for a one-year term. Our
commercial properties are typically leased to tenants under
long-term lease arrangements. As of April 30, 2017, no individual
tenant accounted for more than 10% of our total real
estate rentals.
 Balance Sheet of RUXFORD Real Estate.

Paarticulars 2017 2016 2015 2014 2013

Cash & Short
29 48 18 83 37
Term Investments

Cash Only 29 48 18 83 37

Cash & Short

Term Investments -39.72% 162.52% -78.05% 123.11% -
Growth

Short-Term
1 0 3 - 3
Receivables

Short Term
Receivables 365.52% -92.47% 0.00% 0.00% -
Growth

Other Assets
(Including 1,741 1,326 1,358 1,780 1,136
Intangibles)

Other Assets 1,741 1,326 1,358 1,715 1,072

Intangible Assets - - - 65 65

Total Assets 1,770 1,374 1,379 1,868 1,177

Total Assets
28.86% -0.38% -26.16% 58.69% -
Growth

Return On
1.93% - - - -
Average Assets

Fiscal year is January-December. All values USD Millions.

I. The Company may be subject to lender liability claims. In recent
years, a number of judicial decisions have upheld the right of
borrowers to sue lending institutions on the basis of various
evolving legal theories, collectively termed “lender liability.”

II. Any credit ratings assigned to the Company’s investments will

be subject to ongoing evaluations and revisions and the
Company cannot assure stockholders that those ratings will not
be downgraded.

III. Some of the Company’s portfolio investments are recorded at

fair value and, as a result, there is uncertainty as to the value

IV. of these investments. Furthermore, the Company’s

determinations of fair value may have a material impact on its
financial condition, liquidity and results of operations.

V. Liability relating to environmental matters may impact the value

of properties that the Company may acquire or the properties
underlying its investments. Under various U.S. federal, state and
local laws, an owner or operator of real property may become
liable for the costs of removal of certain hazardous substances
released on its property.
VI. The lack of liquidity of the Company’s assets may adversely
affect the Company’s business, including its ability to value and
sell its assets.
VII. The Company’s investments may be concentrated and are
subject to risk of default
VIII. The commercial mortgage loans and other commercial real
estate-related loans the Company invests in and the
commercial mortgage loans underlying the CMBS the
Company invests in are subject to delinquency, foreclosure
and loss, any or all of which could result in losses to the
Company.

IX. The Company’s investments in B Notes and mezzanine loans

may be subject to losses. The B Notes in which the Company
may invest may be subject to additional risks relating to the
privately negotiated structure and terms of the transaction,
which may result in losses to the Company.

X. The Company generally does not control the special servicing

of the mortgage loans included in the CMBS in which it
invests and, in such cases, the special servicer may take
actions that could adversely affect the Company’s interests.

XI. The Company’s investments in commercial real estate

corporate debt and loans and debt securities of commercial
real estate operating or finance companies will be subject to
the specific risks relating to the particular company and to the
general risks of investing in real estate-related loans and
securities, which may result in significant losses.

XII. A prolonged economic slowdown, a lengthy or severe

recession or declining real estate values could impair the
Company’s investments and harm its operations.
 REFORMS AND SUGGESTIONS, AS A
CIVIL ENGINEER:-
I. Attracting foreign investors.
II. Bringing accountability and transparency in
the operations.
III. Licenses and approvals for construction
projects being granted easily.
IV.The Policies and regulations have to be
framed in order to create encouraging and
effective business environment in the
construction and real estate sectors.
V. The new Policies must have more
substantive implications & are expected to
reshape the real estate sector for positive
long-term growth.
VI.Stress must be laid on regulation of real
estate investment demand, improving the
land supply policy & to strengthen the
market order regulation.
VII.Government of India has realized the
significance of real estate sector and has
given some relaxation of the norms and
regulations keeping in view of:-
 CONCLUSION -
Can India Improve it’s Real
Estate Sector!!
India requires large amount of capital in
real estate industry.
FDI can be encouraged and permissions
may be given tonforeign real estate
firms to operate in India.The sector is
currently dominated by a very small no
of players & entry of foreign companies
will affect the opportunities of the small
and medium real estate firms.
Indian Govt. can permit foreign
companies to enter into lease
agreements with the Indian companies
or builders for a
specific project for a particular period of
time.
The decisions should be taken in after
I. https://www.google.com

II. https://origininvestments.com/

III. https://epublications.bond.edu.au

I. http://www.annualreports.com

I. https://www.msci.com/www/blog-
posts/understanding-the-true-risk-