Investors Real Estate Trust Culture Company

Mr. John A. Kirchmann has been the Chief Financial Officer of Investors Real Estate Trust since June 29, 2017 and as its Executive Vice President since April 27, 2017. Mr. Kirchmann served as Vice President of Operations Support at Essex Property Trust, a NYSE-listed multifamily REIT, until July 2016 where he was responsible for the oversight of revenue management and ancillary income, procurement and other functions. From 2007 to 2011, he served as Corporate Controller and Corporate Treasurer at Essex, where he oversaw property and corporate accounting functions, treasury management and re-engineered and implemented new technology and systems. He has been a Private Consultant since July 2016, providing executive accounting and operations services to publicly traded companies, one of which was IRET. Mr. Kirchmann started his career at KPMG. He received a B.A. in Business Administration with a Concentration in Accounting from Coe College.

Ms. Anne M. Olson, Esq., has been an Executive Vice President at Investors Real Estate Trust since April 30, 2017 and also has been its General Counsel and Secretary since April 27, 2017. Ms. Olson served as Director of Investment Operations - WelshInvest and Senior Real Estate Counsel at Welsh Companies, LLC until 2011. She demonstrated an innate ability to develop and uphold strong relationships with Welsh's investors through consistent, timely communication. She also advised Welsh on all real estate legal matters including acquisitions, dispositions, leasing and other transactional issues. She was Partner in Dorsey & Whitney LLP's Real Estate Practice Group since July 13, 2016, where she focuses on development and investment real estate for publicly traded and publicly registered REITs, including IRET, as well as private equity funds and national developers and owners. Since first entering practice in 2002, she assisted in all manner of real estate transactions and litigation including leasing, acquisitions and dispositions, land use and landlord/tenant disputes. She represented both municipal and private development clients. She has extensive experience with litigation, dispute resolution and condemnation. She worked for firms of Dorsey & Whitney LLP and Larkin Hoffman Daly & Lindgren, Ltd. Her experience as both a former in-house counsel and on the investment side of real estate transactions provides her with business acumen that her clients find invaluable. She joins Dorsey from Lindquist & Vennum LLP, where she was a partner practicing in that firm's Real Estate practice group. She served as the Chief Compliance Officer and Vice President for Welsh Securities, LLC. From 2004 to 2006, she served as Vice President and Corporate Counsel at US Bank National Association, where she provided legal support and consultation in real estate law and transactions to various business lines including Corporate Real Estate and negotiated leases, purchases, licenses, easements and related agreements; coordinated and reviewed real estate due diligence; and supervised outside legal counsel on real estate transactional matters. She has been in the private practice of law since 2011. Her Professional Memberships includes : Minnesota and Hennepin County Bar Associations, Minnesota Commercial Real Estate Women (MNCREW) and Minnesota Women Lawyers. Her Professional Recognitions include : In 2008, she was listed on ???40 Under Forty??? Minneapolis/St. Paul Business Journal and In 2006 to 2007 in ???Rising Star??? Minnesota Law & Politics. Her Education and Training details include : Juries Doctorate from Drake University Law School, Des Moines, IA and Bachelor of Arts in English from Drake University, Des Moines, IA.

Ms. Nancy B. Andersen has been the Principal Accounting Officer and Senior Vice President of Investors Real Estate Trust since February 13, 2015 and September 20, 2016. Ms. Andersen joined the Investors Real Estate Trust in 2003 and served as Financial Officer, Assistant Controller and Vice President and Controller, before being appointed in September 2012 to the position of Vice President and Chief Accounting Officer. She served as Vice President of Investors Real Estate Trust from February 13, 2015 to September 2016. Ms. Andersen holds a Bachelor of Science degree in Accounting and Finance from Minot State University and has earned the designations of Certified Public Accountant from the North Dakota State Board of Accountancy and Chartered Global Management Accountant from the American Institute of Certified Public Accountants.

Mr. Matthew M. Volpano has been Senior Vice President of Capital Markets at Investors Real Estate Trust since May 2017 and served as its Senior Vice President of Investments since September 29, 2016 until May 2017. Mr. Volpano earned a B.B.A. from the University of Wisconsin and an M.B.A. from the Tuck School of Business at Dartmouth.

Ms. Karin M. Wentz has been an Assistant General Counsel of Investors Real Estate Trust (IRET) since 2007 and serves as its Senior Vice President. Ms. Wentz served as Secretary, Assistant Secretary and Chief Compliance Officer at Investors Real Estate Trust. Ms. Wentz joined IRET in 2003. She is a Graduate of Harvard College, The University of London School of Oriental and African Studies and the University of Michigan Law School.