UNITED
STATES
SECURITIES
AND EXCHANGE COMMISSION
Washington,
D.C. 20549
FORM
11-K
ANNUAL
REPORT
Pursuant
to Section 15(d) of the Securities Exchange Act of 1934
[X] ANNUAL
REPORT Pursuant to Section 15(d) of the Securities Exchange Act of
1934
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For
the fiscal year ended
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December
31, 2008
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or
[
] TRANSITION REPORT Pursuant to Section 15(d) of the
Securities Exchange Act of 1934
For the
transition period from _______________ to _____________________
Commission
File Number 0-14851
A. Full
title of the plan and the address of the plan, if different from that of the
issuer named below:
Investors
Real Estate Trust IRET Properties Inc. 401(k) Retirement Plan
B: Name
of issuer of the securities held pursuant to the plan and the address of its
principal executive office:
Investors
Real Estate Trust
Post
Office Box 1988
3015
16th
Street SW, Suite 100
Minot,
North Dakota 58702
SUMMARY
ANNUAL REPORT
FOR
INVESTORS REAL ESTATE TRUST RETIREMENT PLAN
This is a
summary of the annual report for the IRET Properties 401(k) Plan (EIN:
91-1764859, Plan Number 001) for the period of January 1, 2008 through December
31, 2008. The annual report has been filed with the Internal Revenue
Service, as required under the Employee Retirement Income Security Act of 1974
(ERISA).
BASIC
FINANCIAL STATEMENT
The
benefits under this plan are provided by a Trustee. The Trustee is
First Western Bank & Trust.
Plan
expenses were $53,469.99. These expenses included $0.00 in Administrative and
Trustee charges, and $53,469.99 in benefits paid to participants and
beneficiaries. A total of 95 persons were participants in or
beneficiaries of the Plan at the end of the Plan year.
The value
of Plan Assets, after subtracting liabilities of the Plan was $3,853,970.64 as
of December 31, 2008, compared to $3,314,607.48 as of January 1,
2008. During the Plan year, the Plan experienced an increase
(decrease) in its net assets of $539,363.16. This increase includes
unrealized appreciation (or depreciation) in the value of Plan assets of
($189,973.35); that is, the difference between the value of the Plan's assets at
the end of the year, and the value of the assets at the beginning of the year,
or the cost of assets acquired during the year. The Plan had total
income of $782,806.50 including employee contributions of $281,943.92, rollover
contributions of $1,042.24 and employer contributions of $349,678.23, gains
(losses) of ($50,954.97) from the sale of assets, and earnings from investments
of $201,097.08.
YOUR
RIGHTS TO ADDITIONAL INFORMATION
You have
a right to receive a copy of the full Annual Report, or any part thereof, on
request. The items listed below are included in that
Report:
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·
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Assets
held for investment
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To obtain
a copy of the full Annual Report, or any part thereof, write or call the office
of the Plan Administrator, IRET Properties Inc., 3015 16th Street
SW, Suite 100, Minot North Dakota 58702. Telephone Number: (701)
852-1756. There will be no charge for such a copy.
You also
have the legally protected right to examine the annual report at the main office
of the Plan at Minot, North Dakota, and at the U.S. Department of Labor in
Washington, D.C. or to obtain a copy from the U.S. Department of Labor upon
payment of copying costs. Requests to the Department should be
addressed to: Public Disclosure Room, N4677, Pension and Welfare Benefit
Programs, Frances Perkins Department of Labor Building, 200 Constitution Avenue
Northwest, Washington, D.C. 20216.
SIGNATURES
The Plan. Pursuant
to the requirements of the Securities Exchange Act of
1934, the trustees (or other persons who administer the
employee benefit plan)
have duly caused this annual report to
be signed on its behalf by
the undersigned hereunto duly authorized.
Investors
Real Estate Trust IRET Properties Inc. 401(k) Retirement Plan
Date: May
18, 2009
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By:
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INVESTORS
REAL ESTATE TRUST, PLAN ADOPTING EMPLOYER
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/s/ Timothy P. Mihalick
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Name:
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Timothy
P. Mihalick
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Title:
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Senior
Vice President & Chief Operating
Officer
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