Construction Begins on Arcata in Golden Valley, MN

New Luxury Multi-Family Development Near The Shops at West End

GOLDEN VALLEY, MN – Trammell Crow Company, through its wholly owned subsidiary High Street Residential, in conjunction with Investment Real Estate Trust Properties (“IRET Properties”), a self-advised real estate investment trust that owns and operates multi-family residential properties and commercial office, medical, industrial and retail properties located primarily in the upper Midwest, has broken ground on Arcata, a new multi-family development that will feature a six-story, 260,000 square foot building comprised of 165 Class A luxury residential units. The project is scheduled to be completed in October 2014.

“Arcata will provide residents with upscale features and amenities and is conveniently located to a wide-range of destinations, including fine dining and specialty shops,” said Grady Hamilton, Principal and Head of Trammell Crow Company’s Midwest Business Unit. “We are excited to move forward with this project and are grateful for our investment partner, our design and construction team, and the City of Golden Valley for helping us reach this point.”

The project is located on two acres adjacent to the Colonnade Office Tower and south of Golden Hills Office Center on Golden Hills Drive, near The Shops at West End. Arcata will offer studio, one bedroom, one bedroom plus den and two bedroom residential units. Prominent features of the project include contemporary design, resort style pool, clubroom and fitness center, along with a two-story, heated parking garage with 215 parking spaces.

Arcata is located off I-394 and Xenia Avenue, within ten minutes from downtown Minneapolis. Golden Hills Drive will offer ingress and egress to the residential parking garage. The project will be in close proximity to The Shops at West End, the Cedar Lake

Bike Trail, Chain of Lakes, as well as many major suburban office destinations. ESG Architects of Minneapolis, MN will serve as lead architect for the project and Doran Construction will serve as the general contractor.

About Investors Real Estate Trust Properties

Investors Real Estate Trust is an equity real estate investment trust. Its business consists of owning and operating income-producing multi-family residential and commercial properties located primarily in the upper Midwest. Investors Real Estate Trust is based in Minot, North Dakota, and has additional offices in Minneapolis and St. Cloud, Minnesota.

About High Street Residential

Trammell Crow Company’s residential development through its wholly owned subsidiary, High Street Residential™, is focused on resurrecting old and creating new urban neighborhoods to provide more environmentally sound, user-friendly areas within the community. High Street Residential specializes in blending office, retail, housing, and civic venues within organized public gathering spaces through its leading-edge master plan/master developer services and residential development expertise.

About Trammell Crow Company

Trammell Crow Company, founded in 1948, is one of the nation’s leading developers and investors in commercial real estate. The Company has developed or acquired nearly 2,600 buildings valued at nearly $60 billion and over 540 million square feet. As of June 30, 2013, Trammell Crow Company had over $4.7 billion of projects in process and $1.7 billion in its pipeline.

Trammell Crow Company’s teams are dedicated to building value for its clients with professionals in 15 major cities throughout the United States. The company serves users of and investors in, office, industrial, retail, healthcare, multi-family residential and mixed use projects. For those who occupy real estate, TCC can execute the development or acquisition of facilities tailored to meet its clients’ needs. For investor clients, the company offers large strategic joint ventures, opportunity funds, and other targeted investment options.

Trammell Crow Company is an independently operated subsidiary of CBRE Group, Inc. (NYSE:CBG), a Fortune 500 and S&P 500 company headquartered in Los Angeles, and the world’s largest commercial real estate services and investment firm (in terms of 2012 revenue). For more information visit www.TrammellCrow.com.