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Investors Real Estate Trust Completes CFO Transition

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As part of IRET’s previously disclosed executive transition plan, John A. Kirchmann has been appointed CFO, effective immediately. Kirchmann joined IRET in April 2017 to assume the position of Chief Financial Officer upon the completion of the fiscal year 2017 audit.

“We congratulate John on his appointment as Chief Financial Officer,” explains Mark O. Decker Jr., IRET’s Chief Executive Officer.  “John is a seasoned real estate public company executive and has already contributed meaningfully to our company since he joined our team earlier this spring.”

He continues to point out that Kirchmann’s “depth of experience and knowledge give us great confidence in his ability to lead our financial team’s efforts as CFO, and we look forward to his contributions as we continue to execute our strategic transformation to a focused multifamily platform.”

Prior to joining the company, 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 & 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. Kirchmann started his career at KPMG. He received a B.A. in Business Administration with a Concentration in Accounting from Coe College.

IRET focuses on the acquisition, development, redevelopment and management of multifamily communities located primarily in select growth markets throughout the Midwest. As of April 30, 2017, IRET owned interests in 129 properties that were held for investment.