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    <link:label xlink:type="resource" xlink:label="dei_EntityWellKnownSeasonedIssuer_lbl" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="dei_EntityWellKnownSeasonedIssuer_lbl" xml:lang="en-US" id="dei_EntityWellKnownSeasonedIssuer_lbl">Entity Well-known Seasoned Issuer</link:label>
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    <link:label xlink:type="resource" xlink:label="dei_EntityFilerCategory_lbl" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="dei_EntityFilerCategory_lbl" xml:lang="en-US" id="dei_EntityFilerCategory_lbl">Entity Filer Category</link:label>
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    <link:label xlink:type="resource" xlink:label="dei_EntityRegistrantName_lbl" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="dei_EntityRegistrantName_lbl" xml:lang="en-US" id="dei_EntityRegistrantName_lbl">Entity Registrant Name</link:label>
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    <link:loc xlink:type="locator" xlink:href="http://xbrl.sec.gov/dei/2012/dei-2012-01-31.xsd#dei_EntityCentralIndexKey" xlink:label="EntityCentralIndexKey" xlink:title="EntityCentralIndexKey" />
    <link:label xlink:type="resource" xlink:label="dei_EntityCentralIndexKey_lbl" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="dei_EntityCentralIndexKey_lbl" xml:lang="en-US" id="dei_EntityCentralIndexKey_lbl">Entity Central Index Key</link:label>
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    <link:loc xlink:type="locator" xlink:href="http://xbrl.sec.gov/dei/2012/dei-2012-01-31.xsd#dei_EntityCommonStockSharesOutstanding" xlink:label="EntityCommonStockSharesOutstanding" xlink:title="EntityCommonStockSharesOutstanding" />
    <link:label xlink:type="resource" xlink:label="dei_EntityCommonStockSharesOutstanding_lbl" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="dei_EntityCommonStockSharesOutstanding_lbl" xml:lang="en-US" id="dei_EntityCommonStockSharesOutstanding_lbl">Entity Common Stock, Shares Outstanding</link:label>
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    <link:loc xlink:type="locator" xlink:href="http://xbrl.sec.gov/dei/2012/dei-2012-01-31.xsd#dei_DocumentFiscalYearFocus" xlink:label="DocumentFiscalYearFocus" xlink:title="DocumentFiscalYearFocus" />
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    <link:label xlink:type="resource" xlink:label="dei_DocumentFiscalPeriodFocus_lbl" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="dei_DocumentFiscalPeriodFocus_lbl" xml:lang="en-US" id="dei_DocumentFiscalPeriodFocus_lbl">Document Fiscal Period Focus</link:label>
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    <link:loc xlink:type="locator" xlink:href="http://xbrl.sec.gov/dei/2012/dei-2012-01-31.xsd#dei_LegalEntityAxis" xlink:label="LegalEntityAxis" xlink:title="LegalEntityAxis" />
    <link:label xlink:type="resource" xlink:label="dei_LegalEntityAxis_lbl" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="dei_LegalEntityAxis_lbl" xml:lang="en-US" id="dei_LegalEntityAxis_lbl">Legal Entity [Axis]</link:label>
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    <link:loc xlink:type="locator" xlink:href="http://xbrl.sec.gov/dei/2012/dei-2012-01-31.xsd#dei_DocumentType" xlink:label="DocumentType" xlink:title="DocumentType" />
    <link:label xlink:type="resource" xlink:label="dei_DocumentType_lbl" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="dei_DocumentType_lbl" xml:lang="en-US" id="dei_DocumentType_lbl">Document Type</link:label>
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    <link:loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2012/elts/us-gaap-2012-01-31.xsd#us-gaap_AreaOfRealEstateProperty" xlink:label="AreaOfRealEstateProperty" xlink:title="AreaOfRealEstateProperty" />
    <link:label xlink:type="resource" xlink:label="us-gaap_AreaOfRealEstateProperty_lbl" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="us-gaap_AreaOfRealEstateProperty_lbl" xml:lang="en-US" id="us-gaap_AreaOfRealEstateProperty_lbl">Area of a real estate property (in square feet)</link:label>
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    <link:loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2012/elts/us-gaap-2012-01-31.xsd#us-gaap_AreaOfLand" xlink:label="AreaOfLand" xlink:title="AreaOfLand" />
    <link:label xlink:type="resource" xlink:label="us-gaap_AreaOfLand_lbl" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:title="us-gaap_AreaOfLand_lbl" xml:lang="en-US" id="us-gaap_AreaOfLand_lbl">Area of land (in acres)</link:label>
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    <link:loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2012/elts/us-gaap-2012-01-31.xsd#us-gaap_AccountingPoliciesAbstract" xlink:label="AccountingPoliciesAbstract" xlink:title="AccountingPoliciesAbstract" />
    <link:label xlink:type="resource" xlink:label="us-gaap_AccountingPoliciesAbstract_lbl" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="us-gaap_AccountingPoliciesAbstract_lbl" xml:lang="en-US" id="us-gaap_AccountingPoliciesAbstract_lbl">BASIS OF PRESENTATION AND SIGNIFICANT ACCOUNTING POLICIES [Abstract]</link:label>
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    <link:loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2012/elts/us-gaap-2012-01-31.xsd#us-gaap_AssetsAbstract" xlink:label="AssetsAbstract" xlink:title="AssetsAbstract" />
    <link:label xlink:type="resource" xlink:label="us-gaap_AssetsAbstract_lbl" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="us-gaap_AssetsAbstract_lbl" xml:lang="en-US" id="us-gaap_AssetsAbstract_lbl">ASSETS</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="AssetsAbstract" xlink:to="us-gaap_AssetsAbstract_lbl" xlink:title="label: AssetsAbstract to us-gaap_AssetsAbstract_lbl" />
    <link:label xlink:type="resource" xlink:label="us-gaap_AssetsAbstract_lbl1" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:title="us-gaap_AssetsAbstract_lbl1" xml:lang="en-US" id="us-gaap_AssetsAbstract_lbl1">Segment Assets [Abstract]</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="AssetsAbstract" xlink:to="us-gaap_AssetsAbstract_lbl1" xlink:title="label: AssetsAbstract to us-gaap_AssetsAbstract_lbl1" />
    <link:loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2012/elts/us-gaap-2012-01-31.xsd#us-gaap_Assets" xlink:label="Assets" xlink:title="Assets" />
    <link:label xlink:type="resource" xlink:label="us-gaap_Assets_lbl" xlink:role="http://www.xbrl.org/2003/role/totalLabel" xlink:title="us-gaap_Assets_lbl" xml:lang="en-US" id="us-gaap_Assets_lbl">TOTAL ASSETS</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="Assets" xlink:to="us-gaap_Assets_lbl" xlink:title="label: Assets to us-gaap_Assets_lbl" />
    <link:label xlink:type="resource" xlink:label="us-gaap_Assets_lbl1" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:title="us-gaap_Assets_lbl1" xml:lang="en-US" id="us-gaap_Assets_lbl1">Total Assets</link:label>
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    <link:label xlink:type="resource" xlink:label="us-gaap_Assets_lbl2" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="us-gaap_Assets_lbl2" xml:lang="en-US" id="us-gaap_Assets_lbl2">Assets</link:label>
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    <link:loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2012/elts/us-gaap-2012-01-31.xsd#us-gaap_AssetsNoncurrentAbstract" xlink:label="AssetsNoncurrentAbstract" xlink:title="AssetsNoncurrentAbstract" />
    <link:label xlink:type="resource" xlink:label="us-gaap_AssetsNoncurrentAbstract_lbl" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="us-gaap_AssetsNoncurrentAbstract_lbl" xml:lang="en-US" id="us-gaap_AssetsNoncurrentAbstract_lbl">Other assets</link:label>
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    <link:loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2012/elts/us-gaap-2012-01-31.xsd#us-gaap_BasisOfAccountingPolicyPolicyTextBlock" xlink:label="BasisOfAccountingPolicyPolicyTextBlock" xlink:title="BasisOfAccountingPolicyPolicyTextBlock" />
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    <link:loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2012/elts/us-gaap-2012-01-31.xsd#us-gaap_BusinessAcquisitionAxis" xlink:label="BusinessAcquisitionAxis" xlink:title="BusinessAcquisitionAxis" />
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    <link:label xlink:type="resource" xlink:label="us-gaap_BusinessAcquisitionCostOfAcquiredEntityCashPaid_lbl" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:title="us-gaap_BusinessAcquisitionCostOfAcquiredEntityCashPaid_lbl" xml:lang="en-US" id="us-gaap_BusinessAcquisitionCostOfAcquiredEntityCashPaid_lbl">Cash paid for acquisition of property</link:label>
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    <link:label xlink:type="resource" xlink:label="us-gaap_BusinessAcquisitionCostOfAcquiredEntityCashPaid_lbl1" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="us-gaap_BusinessAcquisitionCostOfAcquiredEntityCashPaid_lbl1" xml:lang="en-US" id="us-gaap_BusinessAcquisitionCostOfAcquiredEntityCashPaid_lbl1">Business Acquisition, Cost of Acquired Entity, Cash Paid</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="BusinessAcquisitionCostOfAcquiredEntityCashPaid" xlink:to="us-gaap_BusinessAcquisitionCostOfAcquiredEntityCashPaid_lbl1" xlink:title="label: BusinessAcquisitionCostOfAcquiredEntityCashPaid to us-gaap_BusinessAcquisitionCostOfAcquiredEntityCashPaid_lbl1" />
    <link:loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2012/elts/us-gaap-2012-01-31.xsd#us-gaap_BusinessAcquisitionPurchasePriceAllocationBuildings" xlink:label="BusinessAcquisitionPurchasePriceAllocationBuildings" xlink:title="BusinessAcquisitionPurchasePriceAllocationBuildings" />
    <link:label xlink:type="resource" xlink:label="us-gaap_BusinessAcquisitionPurchasePriceAllocationBuildings_lbl" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:title="us-gaap_BusinessAcquisitionPurchasePriceAllocationBuildings_lbl" xml:lang="en-US" id="us-gaap_BusinessAcquisitionPurchasePriceAllocationBuildings_lbl">Buildings</link:label>
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    <link:label xlink:type="resource" xlink:label="us-gaap_BusinessAcquisitionPurchasePriceAllocationBuildings_lbl1" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="us-gaap_BusinessAcquisitionPurchasePriceAllocationBuildings_lbl1" xml:lang="en-US" id="us-gaap_BusinessAcquisitionPurchasePriceAllocationBuildings_lbl1">Business Acquisition, Purchase Price Allocation, Buildings</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="BusinessAcquisitionPurchasePriceAllocationBuildings" xlink:to="us-gaap_BusinessAcquisitionPurchasePriceAllocationBuildings_lbl1" xlink:title="label: BusinessAcquisitionPurchasePriceAllocationBuildings to us-gaap_BusinessAcquisitionPurchasePriceAllocationBuildings_lbl1" />
    <link:loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2012/elts/us-gaap-2012-01-31.xsd#us-gaap_BusinessAcquisitionAcquireeDomain" xlink:label="BusinessAcquisitionAcquireeDomain" xlink:title="BusinessAcquisitionAcquireeDomain" />
    <link:label xlink:type="resource" xlink:label="us-gaap_BusinessAcquisitionAcquireeDomain_lbl" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="us-gaap_BusinessAcquisitionAcquireeDomain_lbl" xml:lang="en-US" id="us-gaap_BusinessAcquisitionAcquireeDomain_lbl">Business Acquisition, Acquiree [Domain]</link:label>
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    <link:loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2012/elts/us-gaap-2012-01-31.xsd#us-gaap_BusinessAcquisitionPurchasePriceAllocationIntangibleAssetsOtherThanGoodwill" xlink:label="BusinessAcquisitionPurchasePriceAllocationIntangibleAssetsOtherThanGoodwill" xlink:title="BusinessAcquisitionPurchasePriceAllocationIntangibleAssetsOtherThanGoodwill" />
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    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="BusinessAcquisitionPurchasePriceAllocationIntangibleAssetsOtherThanGoodwill" xlink:to="us-gaap_BusinessAcquisitionPurchasePriceAllocationIntangibleAssetsOtherThanGoodwill_lbl1" xlink:title="label: BusinessAcquisitionPurchasePriceAllocationIntangibleAssetsOtherThanGoodwill to us-gaap_BusinessAcquisitionPurchasePriceAllocationIntangibleAssetsOtherThanGoodwill_lbl1" />
    <link:loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2012/elts/us-gaap-2012-01-31.xsd#us-gaap_BusinessAcquisitionCostOfAcquiredEntityEquityInterestsIssuedAndIssuable" xlink:label="BusinessAcquisitionCostOfAcquiredEntityEquityInterestsIssuedAndIssuable" xlink:title="BusinessAcquisitionCostOfAcquiredEntityEquityInterestsIssuedAndIssuable" />
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    <link:loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2012/elts/us-gaap-2012-01-31.xsd#us-gaap_CarryingReportedAmountFairValueDisclosureMember" xlink:label="CarryingReportedAmountFairValueDisclosureMember" xlink:title="CarryingReportedAmountFairValueDisclosureMember" />
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    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="CashAndCashEquivalentsAtCarryingValue" xlink:to="us-gaap_CashAndCashEquivalentsAtCarryingValue_lbl2" xlink:title="label: CashAndCashEquivalentsAtCarryingValue to us-gaap_CashAndCashEquivalentsAtCarryingValue_lbl2" />
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    <link:label xlink:type="resource" xlink:label="us-gaap_CommitmentsAndContingencies_lbl" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="us-gaap_CommitmentsAndContingencies_lbl" xml:lang="en-US" id="us-gaap_CommitmentsAndContingencies_lbl">COMMITMENTS AND CONTINGENCIES (NOTE 15)</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="CommitmentsAndContingencies" xlink:to="us-gaap_CommitmentsAndContingencies_lbl" xlink:title="label: CommitmentsAndContingencies to us-gaap_CommitmentsAndContingencies_lbl" />
    <link:loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2012/elts/us-gaap-2012-01-31.xsd#us-gaap_CommonStockMember" xlink:label="CommonStockMember" xlink:title="CommonStockMember" />
    <link:label xlink:type="resource" xlink:label="us-gaap_CommonStockMember_lbl" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="us-gaap_CommonStockMember_lbl" xml:lang="en-US" id="us-gaap_CommonStockMember_lbl">COMMON SHARES [Member]</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="CommonStockMember" xlink:to="us-gaap_CommonStockMember_lbl" xlink:title="label: CommonStockMember to us-gaap_CommonStockMember_lbl" />
    <link:label xlink:type="resource" xlink:label="us-gaap_CommonStockMember_lbl1" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:title="us-gaap_CommonStockMember_lbl1" xml:lang="en-US" id="us-gaap_CommonStockMember_lbl1">Common Shares [Member]</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="CommonStockMember" xlink:to="us-gaap_CommonStockMember_lbl1" xlink:title="label: CommonStockMember to us-gaap_CommonStockMember_lbl1" />
    <link:loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2012/elts/us-gaap-2012-01-31.xsd#us-gaap_CommonStockSharesOutstanding" xlink:label="CommonStockSharesOutstanding" xlink:title="CommonStockSharesOutstanding" />
    <link:label xlink:type="resource" xlink:label="us-gaap_CommonStockSharesOutstanding_lbl" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="us-gaap_CommonStockSharesOutstanding_lbl" xml:lang="en-US" id="us-gaap_CommonStockSharesOutstanding_lbl">Common Shares of Beneficial Interest, shares outstanding (in shares)</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="CommonStockSharesOutstanding" xlink:to="us-gaap_CommonStockSharesOutstanding_lbl" xlink:title="label: CommonStockSharesOutstanding to us-gaap_CommonStockSharesOutstanding_lbl" />
    <link:loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2012/elts/us-gaap-2012-01-31.xsd#us-gaap_CommonStockValue" xlink:label="CommonStockValue" xlink:title="CommonStockValue" />
    <link:label xlink:type="resource" xlink:label="us-gaap_CommonStockValue_lbl" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="us-gaap_CommonStockValue_lbl" xml:lang="en-US" id="us-gaap_CommonStockValue_lbl">Common Shares of Beneficial Interest (Unlimited authorization, no par value, 94,386,198 shares issued and outstanding at January 31, 2013, and 89,473,838 shares issued and outstanding at April 30, 2012)</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="CommonStockValue" xlink:to="us-gaap_CommonStockValue_lbl" xlink:title="label: CommonStockValue to us-gaap_CommonStockValue_lbl" />
    <link:loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2012/elts/us-gaap-2012-01-31.xsd#us-gaap_CommonStockSharesIssued" xlink:label="CommonStockSharesIssued" xlink:title="CommonStockSharesIssued" />
    <link:label xlink:type="resource" xlink:label="us-gaap_CommonStockSharesIssued_lbl" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="us-gaap_CommonStockSharesIssued_lbl" xml:lang="en-US" id="us-gaap_CommonStockSharesIssued_lbl">Common Shares of Beneficial Interest, shares issued (in shares)</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="CommonStockSharesIssued" xlink:to="us-gaap_CommonStockSharesIssued_lbl" xlink:title="label: CommonStockSharesIssued to us-gaap_CommonStockSharesIssued_lbl" />
    <link:loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2012/elts/us-gaap-2012-01-31.xsd#us-gaap_CommonStockDividendsPerShareDeclared" xlink:label="CommonStockDividendsPerShareDeclared" xlink:title="CommonStockDividendsPerShareDeclared" />
    <link:label xlink:type="resource" xlink:label="us-gaap_CommonStockDividendsPerShareDeclared_lbl" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="us-gaap_CommonStockDividendsPerShareDeclared_lbl" xml:lang="en-US" id="us-gaap_CommonStockDividendsPerShareDeclared_lbl">DIVIDENDS PER COMMON SHARE</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="CommonStockDividendsPerShareDeclared" xlink:to="us-gaap_CommonStockDividendsPerShareDeclared_lbl" xlink:title="label: CommonStockDividendsPerShareDeclared to us-gaap_CommonStockDividendsPerShareDeclared_lbl" />
    <link:label xlink:type="resource" xlink:label="us-gaap_CommonStockDividendsPerShareDeclared_lbl1" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:title="us-gaap_CommonStockDividendsPerShareDeclared_lbl1" xml:lang="en-US" id="us-gaap_CommonStockDividendsPerShareDeclared_lbl1">Common stock, dividends, per share, declared (in dollars per share)</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="CommonStockDividendsPerShareDeclared" xlink:to="us-gaap_CommonStockDividendsPerShareDeclared_lbl1" xlink:title="label: CommonStockDividendsPerShareDeclared to us-gaap_CommonStockDividendsPerShareDeclared_lbl1" />
    <link:loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2012/elts/us-gaap-2012-01-31.xsd#us-gaap_CommonStockParOrStatedValuePerShare" xlink:label="CommonStockParOrStatedValuePerShare" xlink:title="CommonStockParOrStatedValuePerShare" />
    <link:label xlink:type="resource" xlink:label="us-gaap_CommonStockParOrStatedValuePerShare_lbl" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="us-gaap_CommonStockParOrStatedValuePerShare_lbl" xml:lang="en-US" id="us-gaap_CommonStockParOrStatedValuePerShare_lbl">Common Shares of Beneficial Interest, no par value (in dollars per share)</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="CommonStockParOrStatedValuePerShare" xlink:to="us-gaap_CommonStockParOrStatedValuePerShare_lbl" xlink:title="label: CommonStockParOrStatedValuePerShare to us-gaap_CommonStockParOrStatedValuePerShare_lbl" />
    <link:loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2012/elts/us-gaap-2012-01-31.xsd#us-gaap_CompensatingBalancesCashAndCashEquivalentsMember" xlink:label="CompensatingBalancesCashAndCashEquivalentsMember" xlink:title="CompensatingBalancesCashAndCashEquivalentsMember" />
    <link:label xlink:type="resource" xlink:label="us-gaap_CompensatingBalancesCashAndCashEquivalentsMember_lbl" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="us-gaap_CompensatingBalancesCashAndCashEquivalentsMember_lbl" xml:lang="en-US" id="us-gaap_CompensatingBalancesCashAndCashEquivalentsMember_lbl">Compensating Balances, Cash and Cash Equivalents [Domain]</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="CompensatingBalancesCashAndCashEquivalentsMember" xlink:to="us-gaap_CompensatingBalancesCashAndCashEquivalentsMember_lbl" xlink:title="label: CompensatingBalancesCashAndCashEquivalentsMember to us-gaap_CompensatingBalancesCashAndCashEquivalentsMember_lbl" />
    <link:loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2012/elts/us-gaap-2012-01-31.xsd#us-gaap_CompensatingBalancesCashAndCashEquivalentsAxis" xlink:label="CompensatingBalancesCashAndCashEquivalentsAxis" xlink:title="CompensatingBalancesCashAndCashEquivalentsAxis" />
    <link:label xlink:type="resource" xlink:label="us-gaap_CompensatingBalancesCashAndCashEquivalentsAxis_lbl" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="us-gaap_CompensatingBalancesCashAndCashEquivalentsAxis_lbl" xml:lang="en-US" id="us-gaap_CompensatingBalancesCashAndCashEquivalentsAxis_lbl">Compensating Balances, Cash and Cash Equivalents [Axis]</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="CompensatingBalancesCashAndCashEquivalentsAxis" xlink:to="us-gaap_CompensatingBalancesCashAndCashEquivalentsAxis_lbl" xlink:title="label: CompensatingBalancesCashAndCashEquivalentsAxis to us-gaap_CompensatingBalancesCashAndCashEquivalentsAxis_lbl" />
    <link:loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2012/elts/us-gaap-2012-01-31.xsd#us-gaap_CompensatingBalancesLineItems" xlink:label="CompensatingBalancesLineItems" xlink:title="CompensatingBalancesLineItems" />
    <link:label xlink:type="resource" xlink:label="us-gaap_CompensatingBalancesLineItems_lbl" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="us-gaap_CompensatingBalancesLineItems_lbl" xml:lang="en-US" id="us-gaap_CompensatingBalancesLineItems_lbl">Compensating Balances [Line Items]</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="CompensatingBalancesLineItems" xlink:to="us-gaap_CompensatingBalancesLineItems_lbl" xlink:title="label: CompensatingBalancesLineItems to us-gaap_CompensatingBalancesLineItems_lbl" />
    <link:loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2012/elts/us-gaap-2012-01-31.xsd#us-gaap_CompensatingBalanceAmount" xlink:label="CompensatingBalanceAmount" xlink:title="CompensatingBalanceAmount" />
    <link:label xlink:type="resource" xlink:label="us-gaap_CompensatingBalanceAmount_lbl" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="us-gaap_CompensatingBalanceAmount_lbl" xml:lang="en-US" id="us-gaap_CompensatingBalanceAmount_lbl">Compensating balances</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="CompensatingBalanceAmount" xlink:to="us-gaap_CompensatingBalanceAmount_lbl" xlink:title="label: CompensatingBalanceAmount to us-gaap_CompensatingBalanceAmount_lbl" />
    <link:loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2012/elts/us-gaap-2012-01-31.xsd#us-gaap_ContributionOfProperty" xlink:label="ContributionOfProperty" xlink:title="ContributionOfProperty" />
    <link:label xlink:type="resource" xlink:label="us-gaap_ContributionOfProperty_lbl" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="us-gaap_ContributionOfProperty_lbl" xml:lang="en-US" id="us-gaap_ContributionOfProperty_lbl">Land contributed by noncontrolling interests - consolidated real estate entities</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ContributionOfProperty" xlink:to="us-gaap_ContributionOfProperty_lbl" xlink:title="label: ContributionOfProperty to us-gaap_ContributionOfProperty_lbl" />
    <link:loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2012/elts/us-gaap-2012-01-31.xsd#us-gaap_ContributionsFromNoncontrollingInterests" xlink:label="ContributionsFromNoncontrollingInterests" xlink:title="ContributionsFromNoncontrollingInterests" />
    <link:label xlink:type="resource" xlink:label="us-gaap_ContributionsFromNoncontrollingInterests_lbl" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="us-gaap_ContributionsFromNoncontrollingInterests_lbl" xml:lang="en-US" id="us-gaap_ContributionsFromNoncontrollingInterests_lbl">Payments for acquisition of noncontrolling interests - consolidated real estate entities</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ContributionsFromNoncontrollingInterests" xlink:to="us-gaap_ContributionsFromNoncontrollingInterests_lbl" xlink:title="label: ContributionsFromNoncontrollingInterests to us-gaap_ContributionsFromNoncontrollingInterests_lbl" />
    <link:loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2012/elts/us-gaap-2012-01-31.xsd#us-gaap_ConversionOfStockSharesConverted1" xlink:label="ConversionOfStockSharesConverted1" xlink:title="ConversionOfStockSharesConverted1" />
    <link:label xlink:type="resource" xlink:label="us-gaap_ConversionOfStockSharesConverted1_lbl" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="us-gaap_ConversionOfStockSharesConverted1_lbl" xml:lang="en-US" id="us-gaap_ConversionOfStockSharesConverted1_lbl">Units converted to common shares (in shares)</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ConversionOfStockSharesConverted1" xlink:to="us-gaap_ConversionOfStockSharesConverted1_lbl" xlink:title="label: ConversionOfStockSharesConverted1 to us-gaap_ConversionOfStockSharesConverted1_lbl" />
    <link:loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2012/elts/us-gaap-2012-01-31.xsd#us-gaap_ConversionOfStockAmountConverted1" xlink:label="ConversionOfStockAmountConverted1" xlink:title="ConversionOfStockAmountConverted1" />
    <link:label xlink:type="resource" xlink:label="us-gaap_ConversionOfStockAmountConverted1_lbl" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="us-gaap_ConversionOfStockAmountConverted1_lbl" xml:lang="en-US" id="us-gaap_ConversionOfStockAmountConverted1_lbl">Units converted to common shares</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ConversionOfStockAmountConverted1" xlink:to="us-gaap_ConversionOfStockAmountConverted1_lbl" xlink:title="label: ConversionOfStockAmountConverted1 to us-gaap_ConversionOfStockAmountConverted1_lbl" />
    <link:loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2012/elts/us-gaap-2012-01-31.xsd#us-gaap_CorporateJointVentureMember" xlink:label="CorporateJointVentureMember" xlink:title="CorporateJointVentureMember" />
    <link:label xlink:type="resource" xlink:label="us-gaap_CorporateJointVentureMember_lbl" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="us-gaap_CorporateJointVentureMember_lbl" xml:lang="en-US" id="us-gaap_CorporateJointVentureMember_lbl">Joint venture [Member]</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="CorporateJointVentureMember" xlink:to="us-gaap_CorporateJointVentureMember_lbl" xlink:title="label: CorporateJointVentureMember to us-gaap_CorporateJointVentureMember_lbl" />
    <link:loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2012/elts/us-gaap-2012-01-31.xsd#us-gaap_CostOfPropertyRepairsAndMaintenance" xlink:label="CostOfPropertyRepairsAndMaintenance" xlink:title="CostOfPropertyRepairsAndMaintenance" />
    <link:label xlink:type="resource" xlink:label="us-gaap_CostOfPropertyRepairsAndMaintenance_lbl" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="us-gaap_CostOfPropertyRepairsAndMaintenance_lbl" xml:lang="en-US" id="us-gaap_CostOfPropertyRepairsAndMaintenance_lbl">Maintenance</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="CostOfPropertyRepairsAndMaintenance" xlink:to="us-gaap_CostOfPropertyRepairsAndMaintenance_lbl" xlink:title="label: CostOfPropertyRepairsAndMaintenance to us-gaap_CostOfPropertyRepairsAndMaintenance_lbl" />
    <link:loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2012/elts/us-gaap-2012-01-31.xsd#us-gaap_CostOfRealEstateRevenue" xlink:label="CostOfRealEstateRevenue" xlink:title="CostOfRealEstateRevenue" />
    <link:label xlink:type="resource" xlink:label="us-gaap_CostOfRealEstateRevenue_lbl" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="us-gaap_CostOfRealEstateRevenue_lbl" xml:lang="en-US" id="us-gaap_CostOfRealEstateRevenue_lbl">Real estate expenses</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="CostOfRealEstateRevenue" xlink:to="us-gaap_CostOfRealEstateRevenue_lbl" xlink:title="label: CostOfRealEstateRevenue to us-gaap_CostOfRealEstateRevenue_lbl" />
    <link:loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2012/elts/us-gaap-2012-01-31.xsd#us-gaap_CostOfRealEstateSales" xlink:label="CostOfRealEstateSales" xlink:title="CostOfRealEstateSales" />
    <link:label xlink:type="resource" xlink:label="us-gaap_CostOfRealEstateSales_lbl" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="us-gaap_CostOfRealEstateSales_lbl" xml:lang="en-US" id="us-gaap_CostOfRealEstateSales_lbl">Book value and sales cost</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="CostOfRealEstateSales" xlink:to="us-gaap_CostOfRealEstateSales_lbl" xlink:title="label: CostOfRealEstateSales to us-gaap_CostOfRealEstateSales_lbl" />
    <link:loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2012/elts/us-gaap-2012-01-31.xsd#us-gaap_CostsAndExpensesAbstract" xlink:label="CostsAndExpensesAbstract" xlink:title="CostsAndExpensesAbstract" />
    <link:label xlink:type="resource" xlink:label="us-gaap_CostsAndExpensesAbstract_lbl" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="us-gaap_CostsAndExpensesAbstract_lbl" xml:lang="en-US" id="us-gaap_CostsAndExpensesAbstract_lbl">EXPENSES</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="CostsAndExpensesAbstract" xlink:to="us-gaap_CostsAndExpensesAbstract_lbl" xlink:title="label: CostsAndExpensesAbstract to us-gaap_CostsAndExpensesAbstract_lbl" />
    <link:loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2012/elts/us-gaap-2012-01-31.xsd#us-gaap_CostsAndExpenses" xlink:label="CostsAndExpenses" xlink:title="CostsAndExpenses" />
    <link:label xlink:type="resource" xlink:label="us-gaap_CostsAndExpenses_lbl" xlink:role="http://www.xbrl.org/2003/role/totalLabel" xlink:title="us-gaap_CostsAndExpenses_lbl" xml:lang="en-US" id="us-gaap_CostsAndExpenses_lbl">TOTAL EXPENSES</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="CostsAndExpenses" xlink:to="us-gaap_CostsAndExpenses_lbl" xlink:title="label: CostsAndExpenses to us-gaap_CostsAndExpenses_lbl" />
    <link:label xlink:type="resource" xlink:label="us-gaap_CostsAndExpenses_lbl1" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="us-gaap_CostsAndExpenses_lbl1" xml:lang="en-US" id="us-gaap_CostsAndExpenses_lbl1">Costs and Expenses</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="CostsAndExpenses" xlink:to="us-gaap_CostsAndExpenses_lbl1" xlink:title="label: CostsAndExpenses to us-gaap_CostsAndExpenses_lbl1" />
    <link:loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2012/elts/us-gaap-2012-01-31.xsd#us-gaap_CumulativePreferredStockMember" xlink:label="CumulativePreferredStockMember" xlink:title="CumulativePreferredStockMember" />
    <link:label xlink:type="resource" xlink:label="us-gaap_CumulativePreferredStockMember_lbl" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:title="us-gaap_CumulativePreferredStockMember_lbl" xml:lang="en-US" id="us-gaap_CumulativePreferredStockMember_lbl">Series B Cumulative Preferred Stock [Member]</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="CumulativePreferredStockMember" xlink:to="us-gaap_CumulativePreferredStockMember_lbl" xlink:title="label: CumulativePreferredStockMember to us-gaap_CumulativePreferredStockMember_lbl" />
    <link:label xlink:type="resource" xlink:label="us-gaap_CumulativePreferredStockMember_lbl1" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="us-gaap_CumulativePreferredStockMember_lbl1" xml:lang="en-US" id="us-gaap_CumulativePreferredStockMember_lbl1">Cumulative Preferred Stock [Member]</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="CumulativePreferredStockMember" xlink:to="us-gaap_CumulativePreferredStockMember_lbl1" xlink:title="label: CumulativePreferredStockMember to us-gaap_CumulativePreferredStockMember_lbl1" />
    <link:loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2012/elts/us-gaap-2012-01-31.xsd#us-gaap_DebtInstrumentFairValue" xlink:label="DebtInstrumentFairValue" xlink:title="DebtInstrumentFairValue" />
    <link:label xlink:type="resource" xlink:label="us-gaap_DebtInstrumentFairValue_lbl" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:title="us-gaap_DebtInstrumentFairValue_lbl" xml:lang="en-US" id="us-gaap_DebtInstrumentFairValue_lbl">Mortgages payable</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="DebtInstrumentFairValue" xlink:to="us-gaap_DebtInstrumentFairValue_lbl" xlink:title="label: DebtInstrumentFairValue to us-gaap_DebtInstrumentFairValue_lbl" />
    <link:label xlink:type="resource" xlink:label="us-gaap_DebtInstrumentFairValue_lbl1" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="us-gaap_DebtInstrumentFairValue_lbl1" xml:lang="en-US" id="us-gaap_DebtInstrumentFairValue_lbl1">Debt Instrument, Fair Value Disclosure</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="DebtInstrumentFairValue" xlink:to="us-gaap_DebtInstrumentFairValue_lbl1" xlink:title="label: DebtInstrumentFairValue to us-gaap_DebtInstrumentFairValue_lbl1" />
    <link:loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2012/elts/us-gaap-2012-01-31.xsd#us-gaap_DebtDisclosureTextBlock" xlink:label="DebtDisclosureTextBlock" xlink:title="DebtDisclosureTextBlock" />
    <link:label xlink:type="resource" xlink:label="us-gaap_DebtDisclosureTextBlock_lbl" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="us-gaap_DebtDisclosureTextBlock_lbl" xml:lang="en-US" id="us-gaap_DebtDisclosureTextBlock_lbl">MORTGAGES PAYABLE AND LINE OF CREDIT</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="DebtDisclosureTextBlock" xlink:to="us-gaap_DebtDisclosureTextBlock_lbl" xlink:title="label: DebtDisclosureTextBlock to us-gaap_DebtDisclosureTextBlock_lbl" />
    <link:loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2012/elts/us-gaap-2012-01-31.xsd#us-gaap_DebtDisclosureAbstract" xlink:label="DebtDisclosureAbstract" xlink:title="DebtDisclosureAbstract" />
    <link:label xlink:type="resource" xlink:label="us-gaap_DebtDisclosureAbstract_lbl" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="us-gaap_DebtDisclosureAbstract_lbl" xml:lang="en-US" id="us-gaap_DebtDisclosureAbstract_lbl">MORTGAGES PAYABLE AND LINE OF CREDIT [Abstract]</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="DebtDisclosureAbstract" xlink:to="us-gaap_DebtDisclosureAbstract_lbl" xlink:title="label: DebtDisclosureAbstract to us-gaap_DebtDisclosureAbstract_lbl" />
    <link:loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2012/elts/us-gaap-2012-01-31.xsd#us-gaap_DebtInstrumentMaturityDateRangeEnd1" xlink:label="DebtInstrumentMaturityDateRangeEnd1" xlink:title="DebtInstrumentMaturityDateRangeEnd1" />
    <link:label xlink:type="resource" xlink:label="us-gaap_DebtInstrumentMaturityDateRangeEnd1_lbl" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="us-gaap_DebtInstrumentMaturityDateRangeEnd1_lbl" xml:lang="en-US" id="us-gaap_DebtInstrumentMaturityDateRangeEnd1_lbl">Mortgages maturity date range, end</link:label>
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    <link:loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2012/elts/us-gaap-2012-01-31.xsd#us-gaap_DeferredRentReceivablesNet" xlink:label="DeferredRentReceivablesNet" xlink:title="DeferredRentReceivablesNet" />
    <link:label xlink:type="resource" xlink:label="us-gaap_DeferredRentReceivablesNet_lbl" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="us-gaap_DeferredRentReceivablesNet_lbl" xml:lang="en-US" id="us-gaap_DeferredRentReceivablesNet_lbl">Receivable arising from straight-lining of rents, net of allowance of $1,310 and $1,209, respectively</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="DeferredRentReceivablesNet" xlink:to="us-gaap_DeferredRentReceivablesNet_lbl" xlink:title="label: DeferredRentReceivablesNet to us-gaap_DeferredRentReceivablesNet_lbl" />
    <link:loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2012/elts/us-gaap-2012-01-31.xsd#us-gaap_DeferredCostsLeasingNet" xlink:label="DeferredCostsLeasingNet" xlink:title="DeferredCostsLeasingNet" />
    <link:label xlink:type="resource" xlink:label="us-gaap_DeferredCostsLeasingNet_lbl" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="us-gaap_DeferredCostsLeasingNet_lbl" xml:lang="en-US" id="us-gaap_DeferredCostsLeasingNet_lbl">Deferred charges and leasing costs, net of accumulated amortization of $17,574 and $16,244, respectively</link:label>
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    <link:loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2012/elts/us-gaap-2012-01-31.xsd#us-gaap_DeferredCostsLeasingAccumulatedAmortization" xlink:label="DeferredCostsLeasingAccumulatedAmortization" xlink:title="DeferredCostsLeasingAccumulatedAmortization" />
    <link:label xlink:type="resource" xlink:label="us-gaap_DeferredCostsLeasingAccumulatedAmortization_lbl" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="us-gaap_DeferredCostsLeasingAccumulatedAmortization_lbl" xml:lang="en-US" id="us-gaap_DeferredCostsLeasingAccumulatedAmortization_lbl">Deferred charges and leasing costs, accumulated amortization</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="DeferredCostsLeasingAccumulatedAmortization" xlink:to="us-gaap_DeferredCostsLeasingAccumulatedAmortization_lbl" xlink:title="label: DeferredCostsLeasingAccumulatedAmortization to us-gaap_DeferredCostsLeasingAccumulatedAmortization_lbl" />
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    <link:label xlink:type="resource" xlink:label="us-gaap_DepreciationAndAmortization_lbl" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:title="us-gaap_DepreciationAndAmortization_lbl" xml:lang="en-US" id="us-gaap_DepreciationAndAmortization_lbl">Depreciation/amortization related to real estate investments</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="DepreciationAndAmortization" xlink:to="us-gaap_DepreciationAndAmortization_lbl" xlink:title="label: DepreciationAndAmortization to us-gaap_DepreciationAndAmortization_lbl" />
    <link:label xlink:type="resource" xlink:label="us-gaap_DepreciationAndAmortization_lbl1" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="us-gaap_DepreciationAndAmortization_lbl1" xml:lang="en-US" id="us-gaap_DepreciationAndAmortization_lbl1">Depreciation, Depletion and Amortization, Nonproduction</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="DepreciationAndAmortization" xlink:to="us-gaap_DepreciationAndAmortization_lbl1" xlink:title="label: DepreciationAndAmortization to us-gaap_DepreciationAndAmortization_lbl1" />
    <link:loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2012/elts/us-gaap-2012-01-31.xsd#us-gaap_DepreciationDepletionAndAmortization" xlink:label="DepreciationDepletionAndAmortization" xlink:title="DepreciationDepletionAndAmortization" />
    <link:label xlink:type="resource" xlink:label="us-gaap_DepreciationDepletionAndAmortization_lbl" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:title="us-gaap_DepreciationDepletionAndAmortization_lbl" xml:lang="en-US" id="us-gaap_DepreciationDepletionAndAmortization_lbl">Depreciation and amortization</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="DepreciationDepletionAndAmortization" xlink:to="us-gaap_DepreciationDepletionAndAmortization_lbl" xlink:title="label: DepreciationDepletionAndAmortization to us-gaap_DepreciationDepletionAndAmortization_lbl" />
    <link:label xlink:type="resource" xlink:label="us-gaap_DepreciationDepletionAndAmortization_lbl1" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="us-gaap_DepreciationDepletionAndAmortization_lbl1" xml:lang="en-US" id="us-gaap_DepreciationDepletionAndAmortization_lbl1">Depreciation, Depletion and Amortization</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="DepreciationDepletionAndAmortization" xlink:to="us-gaap_DepreciationDepletionAndAmortization_lbl1" xlink:title="label: DepreciationDepletionAndAmortization to us-gaap_DepreciationDepletionAndAmortization_lbl1" />
    <link:loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2012/elts/us-gaap-2012-01-31.xsd#us-gaap_DevelopmentInProcess" xlink:label="DevelopmentInProcess" xlink:title="DevelopmentInProcess" />
    <link:label xlink:type="resource" xlink:label="us-gaap_DevelopmentInProcess_lbl" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="us-gaap_DevelopmentInProcess_lbl" xml:lang="en-US" id="us-gaap_DevelopmentInProcess_lbl">Development in progress</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="DevelopmentInProcess" xlink:to="us-gaap_DevelopmentInProcess_lbl" xlink:title="label: DevelopmentInProcess to us-gaap_DevelopmentInProcess_lbl" />
    <link:loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2012/elts/us-gaap-2012-01-31.xsd#us-gaap_DiscontinuedOperationGainLossOnDisposalOfDiscontinuedOperationNetOfTax" xlink:label="DiscontinuedOperationGainLossOnDisposalOfDiscontinuedOperationNetOfTax" xlink:title="DiscontinuedOperationGainLossOnDisposalOfDiscontinuedOperationNetOfTax" />
    <link:label xlink:type="resource" xlink:label="us-gaap_DiscontinuedOperationGainLossOnDisposalOfDiscontinuedOperationNetOfTax_lbl" xlink:role="http://www.xbrl.org/2009/role/negatedLabel" xlink:title="us-gaap_DiscontinuedOperationGainLossOnDisposalOfDiscontinuedOperationNetOfTax_lbl" xml:lang="en-US" id="us-gaap_DiscontinuedOperationGainLossOnDisposalOfDiscontinuedOperationNetOfTax_lbl">Gain on sale of real estate, land, other investments and discontinued operations</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="DiscontinuedOperationGainLossOnDisposalOfDiscontinuedOperationNetOfTax" xlink:to="us-gaap_DiscontinuedOperationGainLossOnDisposalOfDiscontinuedOperationNetOfTax_lbl" xlink:title="label: DiscontinuedOperationGainLossOnDisposalOfDiscontinuedOperationNetOfTax to us-gaap_DiscontinuedOperationGainLossOnDisposalOfDiscontinuedOperationNetOfTax_lbl" />
    <link:label xlink:type="resource" xlink:label="us-gaap_DiscontinuedOperationGainLossOnDisposalOfDiscontinuedOperationNetOfTax_lbl1" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="us-gaap_DiscontinuedOperationGainLossOnDisposalOfDiscontinuedOperationNetOfTax_lbl1" xml:lang="en-US" id="us-gaap_DiscontinuedOperationGainLossOnDisposalOfDiscontinuedOperationNetOfTax_lbl1">Gain on sale of discontinued operations</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="DiscontinuedOperationGainLossOnDisposalOfDiscontinuedOperationNetOfTax" xlink:to="us-gaap_DiscontinuedOperationGainLossOnDisposalOfDiscontinuedOperationNetOfTax_lbl1" xlink:title="label: DiscontinuedOperationGainLossOnDisposalOfDiscontinuedOperationNetOfTax to us-gaap_DiscontinuedOperationGainLossOnDisposalOfDiscontinuedOperationNetOfTax_lbl1" />
    <link:loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2012/elts/us-gaap-2012-01-31.xsd#us-gaap_DiscontinuedOperationIncomeLossFromDiscontinuedOperationDuringPhaseOutPeriodNetOfTax" xlink:label="DiscontinuedOperationIncomeLossFromDiscontinuedOperationDuringPhaseOutPeriodNetOfTax" xlink:title="DiscontinuedOperationIncomeLossFromDiscontinuedOperationDuringPhaseOutPeriodNetOfTax" />
    <link:label xlink:type="resource" xlink:label="us-gaap_DiscontinuedOperationIncomeLossFromDiscontinuedOperationDuringPhaseOutPeriodNetOfTax_lbl" xlink:role="http://www.xbrl.org/2003/role/totalLabel" xlink:title="us-gaap_DiscontinuedOperationIncomeLossFromDiscontinuedOperationDuringPhaseOutPeriodNetOfTax_lbl" xml:lang="en-US" id="us-gaap_DiscontinuedOperationIncomeLossFromDiscontinuedOperationDuringPhaseOutPeriodNetOfTax_lbl">Income from discontinued operations before gain on sale</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="DiscontinuedOperationIncomeLossFromDiscontinuedOperationDuringPhaseOutPeriodNetOfTax" xlink:to="us-gaap_DiscontinuedOperationIncomeLossFromDiscontinuedOperationDuringPhaseOutPeriodNetOfTax_lbl" xlink:title="label: DiscontinuedOperationIncomeLossFromDiscontinuedOperationDuringPhaseOutPeriodNetOfTax to us-gaap_DiscontinuedOperationIncomeLossFromDiscontinuedOperationDuringPhaseOutPeriodNetOfTax_lbl" />
    <link:label xlink:type="resource" xlink:label="us-gaap_DiscontinuedOperationIncomeLossFromDiscontinuedOperationDuringPhaseOutPeriodNetOfTax_lbl1" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="us-gaap_DiscontinuedOperationIncomeLossFromDiscontinuedOperationDuringPhaseOutPeriodNetOfTax_lbl1" xml:lang="en-US" id="us-gaap_DiscontinuedOperationIncomeLossFromDiscontinuedOperationDuringPhaseOutPeriodNetOfTax_lbl1">Discontinued Operation, Income (Loss) from Discontinued Operation During Phase-out Period, Net of Tax</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="DiscontinuedOperationIncomeLossFromDiscontinuedOperationDuringPhaseOutPeriodNetOfTax" xlink:to="us-gaap_DiscontinuedOperationIncomeLossFromDiscontinuedOperationDuringPhaseOutPeriodNetOfTax_lbl1" xlink:title="label: DiscontinuedOperationIncomeLossFromDiscontinuedOperationDuringPhaseOutPeriodNetOfTax to us-gaap_DiscontinuedOperationIncomeLossFromDiscontinuedOperationDuringPhaseOutPeriodNetOfTax_lbl1" />
    <link:loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2012/elts/us-gaap-2012-01-31.xsd#us-gaap_DiscontinuedOperationsAndDisposalGroupsAbstract" xlink:label="DiscontinuedOperationsAndDisposalGroupsAbstract" xlink:title="DiscontinuedOperationsAndDisposalGroupsAbstract" />
    <link:label xlink:type="resource" xlink:label="us-gaap_DiscontinuedOperationsAndDisposalGroupsAbstract_lbl" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="us-gaap_DiscontinuedOperationsAndDisposalGroupsAbstract_lbl" xml:lang="en-US" id="us-gaap_DiscontinuedOperationsAndDisposalGroupsAbstract_lbl">DISCONTINUED OPERATIONS [Abstract]</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="DiscontinuedOperationsAndDisposalGroupsAbstract" xlink:to="us-gaap_DiscontinuedOperationsAndDisposalGroupsAbstract_lbl" xlink:title="label: DiscontinuedOperationsAndDisposalGroupsAbstract to us-gaap_DiscontinuedOperationsAndDisposalGroupsAbstract_lbl" />
    <link:loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2012/elts/us-gaap-2012-01-31.xsd#us-gaap_DisposalGroupIncludingDiscontinuedOperationOperatingIncomeLoss" xlink:label="DisposalGroupIncludingDiscontinuedOperationOperatingIncomeLoss" xlink:title="DisposalGroupIncludingDiscontinuedOperationOperatingIncomeLoss" />
    <link:label xlink:type="resource" xlink:label="us-gaap_DisposalGroupIncludingDiscontinuedOperationOperatingIncomeLoss_lbl" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="us-gaap_DisposalGroupIncludingDiscontinuedOperationOperatingIncomeLoss_lbl" xml:lang="en-US" id="us-gaap_DisposalGroupIncludingDiscontinuedOperationOperatingIncomeLoss_lbl">Operating Income</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="DisposalGroupIncludingDiscontinuedOperationOperatingIncomeLoss" xlink:to="us-gaap_DisposalGroupIncludingDiscontinuedOperationOperatingIncomeLoss_lbl" xlink:title="label: DisposalGroupIncludingDiscontinuedOperationOperatingIncomeLoss to us-gaap_DisposalGroupIncludingDiscontinuedOperationOperatingIncomeLoss_lbl" />
    <link:loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2012/elts/us-gaap-2012-01-31.xsd#us-gaap_DisposalGroupsIncludingDiscontinuedOperationsDisclosureTextBlock" xlink:label="DisposalGroupsIncludingDiscontinuedOperationsDisclosureTextBlock" xlink:title="DisposalGroupsIncludingDiscontinuedOperationsDisclosureTextBlock" />
    <link:label xlink:type="resource" xlink:label="us-gaap_DisposalGroupsIncludingDiscontinuedOperationsDisclosureTextBlock_lbl" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="us-gaap_DisposalGroupsIncludingDiscontinuedOperationsDisclosureTextBlock_lbl" xml:lang="en-US" id="us-gaap_DisposalGroupsIncludingDiscontinuedOperationsDisclosureTextBlock_lbl">DISCONTINUED OPERATIONS</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="DisposalGroupsIncludingDiscontinuedOperationsDisclosureTextBlock" xlink:to="us-gaap_DisposalGroupsIncludingDiscontinuedOperationsDisclosureTextBlock_lbl" xlink:title="label: DisposalGroupsIncludingDiscontinuedOperationsDisclosureTextBlock to us-gaap_DisposalGroupsIncludingDiscontinuedOperationsDisclosureTextBlock_lbl" />
    <link:loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2012/elts/us-gaap-2012-01-31.xsd#us-gaap_DisposalGroupsIncludingDiscontinuedOperationsNameDomain" xlink:label="DisposalGroupsIncludingDiscontinuedOperationsNameDomain" xlink:title="DisposalGroupsIncludingDiscontinuedOperationsNameDomain" />
    <link:label xlink:type="resource" xlink:label="us-gaap_DisposalGroupsIncludingDiscontinuedOperationsNameDomain_lbl" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="us-gaap_DisposalGroupsIncludingDiscontinuedOperationsNameDomain_lbl" xml:lang="en-US" id="us-gaap_DisposalGroupsIncludingDiscontinuedOperationsNameDomain_lbl">Disposal Groups, Including Discontinued Operations, Name [Domain]</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="DisposalGroupsIncludingDiscontinuedOperationsNameDomain" xlink:to="us-gaap_DisposalGroupsIncludingDiscontinuedOperationsNameDomain_lbl" xlink:title="label: DisposalGroupsIncludingDiscontinuedOperationsNameDomain to us-gaap_DisposalGroupsIncludingDiscontinuedOperationsNameDomain_lbl" />
    <link:loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2012/elts/us-gaap-2012-01-31.xsd#us-gaap_DividendPayableDateToBePaidDayMonthAndYear" xlink:label="DividendPayableDateToBePaidDayMonthAndYear" xlink:title="DividendPayableDateToBePaidDayMonthAndYear" />
    <link:label xlink:type="resource" xlink:label="us-gaap_DividendPayableDateToBePaidDayMonthAndYear_lbl" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="us-gaap_DividendPayableDateToBePaidDayMonthAndYear_lbl" xml:lang="en-US" id="us-gaap_DividendPayableDateToBePaidDayMonthAndYear_lbl">Payment date</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="DividendPayableDateToBePaidDayMonthAndYear" xlink:to="us-gaap_DividendPayableDateToBePaidDayMonthAndYear_lbl" xlink:title="label: DividendPayableDateToBePaidDayMonthAndYear to us-gaap_DividendPayableDateToBePaidDayMonthAndYear_lbl" />
    <link:loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2012/elts/us-gaap-2012-01-31.xsd#us-gaap_DividendDeclaredMember" xlink:label="DividendDeclaredMember" xlink:title="DividendDeclaredMember" />
    <link:label xlink:type="resource" xlink:label="us-gaap_DividendDeclaredMember_lbl" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="us-gaap_DividendDeclaredMember_lbl" xml:lang="en-US" id="us-gaap_DividendDeclaredMember_lbl">Dividend Declared [Member]</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="DividendDeclaredMember" xlink:to="us-gaap_DividendDeclaredMember_lbl" xlink:title="label: DividendDeclaredMember to us-gaap_DividendDeclaredMember_lbl" />
    <link:loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2012/elts/us-gaap-2012-01-31.xsd#us-gaap_DividendsCommonStock" xlink:label="DividendsCommonStock" xlink:title="DividendsCommonStock" />
    <link:label xlink:type="resource" xlink:label="us-gaap_DividendsCommonStock_lbl" xlink:role="http://www.xbrl.org/2009/role/negatedLabel" xlink:title="us-gaap_DividendsCommonStock_lbl" xml:lang="en-US" id="us-gaap_DividendsCommonStock_lbl">Distributions - common shares and units</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="DividendsCommonStock" xlink:to="us-gaap_DividendsCommonStock_lbl" xlink:title="label: DividendsCommonStock to us-gaap_DividendsCommonStock_lbl" />
    <link:label xlink:type="resource" xlink:label="us-gaap_DividendsCommonStock_lbl1" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="us-gaap_DividendsCommonStock_lbl1" xml:lang="en-US" id="us-gaap_DividendsCommonStock_lbl1">Dividends, Common Stock</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="DividendsCommonStock" xlink:to="us-gaap_DividendsCommonStock_lbl1" xlink:title="label: DividendsCommonStock to us-gaap_DividendsCommonStock_lbl1" />
    <link:loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2012/elts/us-gaap-2012-01-31.xsd#us-gaap_DividendsPayableDateDeclaredDayMonthAndYear" xlink:label="DividendsPayableDateDeclaredDayMonthAndYear" xlink:title="DividendsPayableDateDeclaredDayMonthAndYear" />
    <link:label xlink:type="resource" xlink:label="us-gaap_DividendsPayableDateDeclaredDayMonthAndYear_lbl" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="us-gaap_DividendsPayableDateDeclaredDayMonthAndYear_lbl" xml:lang="en-US" id="us-gaap_DividendsPayableDateDeclaredDayMonthAndYear_lbl">Declaration date</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="DividendsPayableDateDeclaredDayMonthAndYear" xlink:to="us-gaap_DividendsPayableDateDeclaredDayMonthAndYear_lbl" xlink:title="label: DividendsPayableDateDeclaredDayMonthAndYear to us-gaap_DividendsPayableDateDeclaredDayMonthAndYear_lbl" />
    <link:loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2012/elts/us-gaap-2012-01-31.xsd#us-gaap_DividendsAxis" xlink:label="DividendsAxis" xlink:title="DividendsAxis" />
    <link:label xlink:type="resource" xlink:label="us-gaap_DividendsAxis_lbl" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="us-gaap_DividendsAxis_lbl" xml:lang="en-US" id="us-gaap_DividendsAxis_lbl">Dividends [Axis]</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="DividendsAxis" xlink:to="us-gaap_DividendsAxis_lbl" xlink:title="label: DividendsAxis to us-gaap_DividendsAxis_lbl" />
    <link:loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2012/elts/us-gaap-2012-01-31.xsd#us-gaap_DividendsPayableDateOfRecordDayMonthAndYear" xlink:label="DividendsPayableDateOfRecordDayMonthAndYear" xlink:title="DividendsPayableDateOfRecordDayMonthAndYear" />
    <link:label xlink:type="resource" xlink:label="us-gaap_DividendsPayableDateOfRecordDayMonthAndYear_lbl" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="us-gaap_DividendsPayableDateOfRecordDayMonthAndYear_lbl" xml:lang="en-US" id="us-gaap_DividendsPayableDateOfRecordDayMonthAndYear_lbl">Record date</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="DividendsPayableDateOfRecordDayMonthAndYear" xlink:to="us-gaap_DividendsPayableDateOfRecordDayMonthAndYear_lbl" xlink:title="label: DividendsPayableDateOfRecordDayMonthAndYear to us-gaap_DividendsPayableDateOfRecordDayMonthAndYear_lbl" />
    <link:loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2012/elts/us-gaap-2012-01-31.xsd#us-gaap_DividendsPreferredStock" xlink:label="DividendsPreferredStock" xlink:title="DividendsPreferredStock" />
    <link:label xlink:type="resource" xlink:label="us-gaap_DividendsPreferredStock_lbl" xlink:role="http://www.xbrl.org/2009/role/negatedTerseLabel" xlink:title="us-gaap_DividendsPreferredStock_lbl" xml:lang="en-US" id="us-gaap_DividendsPreferredStock_lbl">Distributions - preferred shares</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="DividendsPreferredStock" xlink:to="us-gaap_DividendsPreferredStock_lbl" xlink:title="label: DividendsPreferredStock to us-gaap_DividendsPreferredStock_lbl" />
    <link:label xlink:type="resource" xlink:label="us-gaap_DividendsPreferredStock_lbl1" xlink:role="http://www.xbrl.org/2009/role/negatedLabel" xlink:title="us-gaap_DividendsPreferredStock_lbl1" xml:lang="en-US" id="us-gaap_DividendsPreferredStock_lbl1">Dividends to preferred shareholders</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="DividendsPreferredStock" xlink:to="us-gaap_DividendsPreferredStock_lbl1" xlink:title="label: DividendsPreferredStock to us-gaap_DividendsPreferredStock_lbl1" />
    <link:label xlink:type="resource" xlink:label="us-gaap_DividendsPreferredStock_lbl2" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="us-gaap_DividendsPreferredStock_lbl2" xml:lang="en-US" id="us-gaap_DividendsPreferredStock_lbl2">Dividends, Preferred Stock</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="DividendsPreferredStock" xlink:to="us-gaap_DividendsPreferredStock_lbl2" xlink:title="label: DividendsPreferredStock to us-gaap_DividendsPreferredStock_lbl2" />
    <link:loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2012/elts/us-gaap-2012-01-31.xsd#us-gaap_DividendsDomain" xlink:label="DividendsDomain" xlink:title="DividendsDomain" />
    <link:label xlink:type="resource" xlink:label="us-gaap_DividendsDomain_lbl" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="us-gaap_DividendsDomain_lbl" xml:lang="en-US" id="us-gaap_DividendsDomain_lbl">Dividends [Domain]</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="DividendsDomain" xlink:to="us-gaap_DividendsDomain_lbl" xlink:title="label: DividendsDomain to us-gaap_DividendsDomain_lbl" />
    <link:loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2012/elts/us-gaap-2012-01-31.xsd#us-gaap_EarnestMoneyDeposits" xlink:label="EarnestMoneyDeposits" xlink:title="EarnestMoneyDeposits" />
    <link:label xlink:type="resource" xlink:label="us-gaap_EarnestMoneyDeposits_lbl" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="us-gaap_EarnestMoneyDeposits_lbl" xml:lang="en-US" id="us-gaap_EarnestMoneyDeposits_lbl">Real estate deposits</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="EarnestMoneyDeposits" xlink:to="us-gaap_EarnestMoneyDeposits_lbl" xlink:title="label: EarnestMoneyDeposits to us-gaap_EarnestMoneyDeposits_lbl" />
    <link:loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2012/elts/us-gaap-2012-01-31.xsd#us-gaap_EarningsPerShareBasicAndDiluted" xlink:label="EarningsPerShareBasicAndDiluted" xlink:title="EarningsPerShareBasicAndDiluted" />
    <link:label xlink:type="resource" xlink:label="us-gaap_EarningsPerShareBasicAndDiluted_lbl" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:title="us-gaap_EarningsPerShareBasicAndDiluted_lbl" xml:lang="en-US" id="us-gaap_EarningsPerShareBasicAndDiluted_lbl">NET INCOME PER COMMON SHARE - BASIC AND DILUTED</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="EarningsPerShareBasicAndDiluted" xlink:to="us-gaap_EarningsPerShareBasicAndDiluted_lbl" xlink:title="label: EarningsPerShareBasicAndDiluted to us-gaap_EarningsPerShareBasicAndDiluted_lbl" />
    <link:label xlink:type="resource" xlink:label="us-gaap_EarningsPerShareBasicAndDiluted_lbl1" xlink:role="http://www.xbrl.org/2003/role/totalLabel" xlink:title="us-gaap_EarningsPerShareBasicAndDiluted_lbl1" xml:lang="en-US" id="us-gaap_EarningsPerShareBasicAndDiluted_lbl1">NET INCOME PER COMMON SHARE - BASIC AND DILUTED</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="EarningsPerShareBasicAndDiluted" xlink:to="us-gaap_EarningsPerShareBasicAndDiluted_lbl1" xlink:title="label: EarningsPerShareBasicAndDiluted to us-gaap_EarningsPerShareBasicAndDiluted_lbl1" />
    <link:label xlink:type="resource" xlink:label="us-gaap_EarningsPerShareBasicAndDiluted_lbl2" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="us-gaap_EarningsPerShareBasicAndDiluted_lbl2" xml:lang="en-US" id="us-gaap_EarningsPerShareBasicAndDiluted_lbl2">Earnings Per Share, Basic and Diluted</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="EarningsPerShareBasicAndDiluted" xlink:to="us-gaap_EarningsPerShareBasicAndDiluted_lbl2" xlink:title="label: EarningsPerShareBasicAndDiluted to us-gaap_EarningsPerShareBasicAndDiluted_lbl2" />
    <link:loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2012/elts/us-gaap-2012-01-31.xsd#us-gaap_EarningsPerShareTextBlock" xlink:label="EarningsPerShareTextBlock" xlink:title="EarningsPerShareTextBlock" />
    <link:label xlink:type="resource" xlink:label="us-gaap_EarningsPerShareTextBlock_lbl" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="us-gaap_EarningsPerShareTextBlock_lbl" xml:lang="en-US" id="us-gaap_EarningsPerShareTextBlock_lbl">EARNINGS PER SHARE</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="EarningsPerShareTextBlock" xlink:to="us-gaap_EarningsPerShareTextBlock_lbl" xlink:title="label: EarningsPerShareTextBlock to us-gaap_EarningsPerShareTextBlock_lbl" />
    <link:loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2012/elts/us-gaap-2012-01-31.xsd#us-gaap_EarningsPerShareAbstract" xlink:label="EarningsPerShareAbstract" xlink:title="EarningsPerShareAbstract" />
    <link:label xlink:type="resource" xlink:label="us-gaap_EarningsPerShareAbstract_lbl" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="us-gaap_EarningsPerShareAbstract_lbl" xml:lang="en-US" id="us-gaap_EarningsPerShareAbstract_lbl">EARNINGS PER SHARE [Abstract]</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="EarningsPerShareAbstract" xlink:to="us-gaap_EarningsPerShareAbstract_lbl" xlink:title="label: EarningsPerShareAbstract to us-gaap_EarningsPerShareAbstract_lbl" />
    <link:loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2012/elts/us-gaap-2012-01-31.xsd#us-gaap_EquityAbstract" xlink:label="EquityAbstract" xlink:title="EquityAbstract" />
    <link:label xlink:type="resource" xlink:label="us-gaap_EquityAbstract_lbl" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="us-gaap_EquityAbstract_lbl" xml:lang="en-US" id="us-gaap_EquityAbstract_lbl">EQUITY [Abstract]</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="EquityAbstract" xlink:to="us-gaap_EquityAbstract_lbl" xlink:title="label: EquityAbstract to us-gaap_EquityAbstract_lbl" />
    <link:loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2012/elts/us-gaap-2012-01-31.xsd#us-gaap_EquityMethodInvestmentOwnershipPercentage" xlink:label="EquityMethodInvestmentOwnershipPercentage" xlink:title="EquityMethodInvestmentOwnershipPercentage" />
    <link:label xlink:type="resource" xlink:label="us-gaap_EquityMethodInvestmentOwnershipPercentage_lbl" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="us-gaap_EquityMethodInvestmentOwnershipPercentage_lbl" xml:lang="en-US" id="us-gaap_EquityMethodInvestmentOwnershipPercentage_lbl">Interest in joint venture (in hundredths)</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="EquityMethodInvestmentOwnershipPercentage" xlink:to="us-gaap_EquityMethodInvestmentOwnershipPercentage_lbl" xlink:title="label: EquityMethodInvestmentOwnershipPercentage to us-gaap_EquityMethodInvestmentOwnershipPercentage_lbl" />
    <link:loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2012/elts/us-gaap-2012-01-31.xsd#us-gaap_EquityComponentDomain" xlink:label="EquityComponentDomain" xlink:title="EquityComponentDomain" />
    <link:label xlink:type="resource" xlink:label="us-gaap_EquityComponentDomain_lbl" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="us-gaap_EquityComponentDomain_lbl" xml:lang="en-US" id="us-gaap_EquityComponentDomain_lbl">Equity Component [Domain]</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="EquityComponentDomain" xlink:to="us-gaap_EquityComponentDomain_lbl" xlink:title="label: EquityComponentDomain to us-gaap_EquityComponentDomain_lbl" />
    <link:loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2012/elts/us-gaap-2012-01-31.xsd#us-gaap_EstimateOfFairValueFairValueDisclosureMember" xlink:label="EstimateOfFairValueFairValueDisclosureMember" xlink:title="EstimateOfFairValueFairValueDisclosureMember" />
    <link:label xlink:type="resource" xlink:label="us-gaap_EstimateOfFairValueFairValueDisclosureMember_lbl" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="us-gaap_EstimateOfFairValueFairValueDisclosureMember_lbl" xml:lang="en-US" id="us-gaap_EstimateOfFairValueFairValueDisclosureMember_lbl">Fair Value [Member]</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="EstimateOfFairValueFairValueDisclosureMember" xlink:to="us-gaap_EstimateOfFairValueFairValueDisclosureMember_lbl" xlink:title="label: EstimateOfFairValueFairValueDisclosureMember to us-gaap_EstimateOfFairValueFairValueDisclosureMember_lbl" />
    <link:loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2012/elts/us-gaap-2012-01-31.xsd#us-gaap_FairValueDisclosuresAbstract" xlink:label="FairValueDisclosuresAbstract" xlink:title="FairValueDisclosuresAbstract" />
    <link:label xlink:type="resource" xlink:label="us-gaap_FairValueDisclosuresAbstract_lbl" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="us-gaap_FairValueDisclosuresAbstract_lbl" xml:lang="en-US" id="us-gaap_FairValueDisclosuresAbstract_lbl">FAIR VALUE OF FINANCIAL INSTRUMENTS [Abstract]</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="FairValueDisclosuresAbstract" xlink:to="us-gaap_FairValueDisclosuresAbstract_lbl" xlink:title="label: FairValueDisclosuresAbstract to us-gaap_FairValueDisclosuresAbstract_lbl" />
    <link:loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2012/elts/us-gaap-2012-01-31.xsd#us-gaap_FairValueDisclosuresTextBlock" xlink:label="FairValueDisclosuresTextBlock" xlink:title="FairValueDisclosuresTextBlock" />
    <link:label xlink:type="resource" xlink:label="us-gaap_FairValueDisclosuresTextBlock_lbl" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="us-gaap_FairValueDisclosuresTextBlock_lbl" xml:lang="en-US" id="us-gaap_FairValueDisclosuresTextBlock_lbl">FAIR VALUE OF FINANCIAL INSTRUMENTS</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="FairValueDisclosuresTextBlock" xlink:to="us-gaap_FairValueDisclosuresTextBlock_lbl" xlink:title="label: FairValueDisclosuresTextBlock to us-gaap_FairValueDisclosuresTextBlock_lbl" />
    <link:loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2012/elts/us-gaap-2012-01-31.xsd#us-gaap_FairValueBalanceSheetGroupingFinancialStatementCaptionsLineItems" xlink:label="FairValueBalanceSheetGroupingFinancialStatementCaptionsLineItems" xlink:title="FairValueBalanceSheetGroupingFinancialStatementCaptionsLineItems" />
    <link:label xlink:type="resource" xlink:label="us-gaap_FairValueBalanceSheetGroupingFinancialStatementCaptionsLineItems_lbl" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="us-gaap_FairValueBalanceSheetGroupingFinancialStatementCaptionsLineItems_lbl" xml:lang="en-US" id="us-gaap_FairValueBalanceSheetGroupingFinancialStatementCaptionsLineItems_lbl">Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="FairValueBalanceSheetGroupingFinancialStatementCaptionsLineItems" xlink:to="us-gaap_FairValueBalanceSheetGroupingFinancialStatementCaptionsLineItems_lbl" xlink:title="label: FairValueBalanceSheetGroupingFinancialStatementCaptionsLineItems to us-gaap_FairValueBalanceSheetGroupingFinancialStatementCaptionsLineItems_lbl" />
    <link:loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2012/elts/us-gaap-2012-01-31.xsd#us-gaap_FairValueDisclosureItemAmountsDomain" xlink:label="FairValueDisclosureItemAmountsDomain" xlink:title="FairValueDisclosureItemAmountsDomain" />
    <link:label xlink:type="resource" xlink:label="us-gaap_FairValueDisclosureItemAmountsDomain_lbl" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="us-gaap_FairValueDisclosureItemAmountsDomain_lbl" xml:lang="en-US" id="us-gaap_FairValueDisclosureItemAmountsDomain_lbl">Fair Value, Disclosure Item Amounts [Domain]</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="FairValueDisclosureItemAmountsDomain" xlink:to="us-gaap_FairValueDisclosureItemAmountsDomain_lbl" xlink:title="label: FairValueDisclosureItemAmountsDomain to us-gaap_FairValueDisclosureItemAmountsDomain_lbl" />
    <link:loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2012/elts/us-gaap-2012-01-31.xsd#us-gaap_FairValueByBalanceSheetGroupingTable" xlink:label="FairValueByBalanceSheetGroupingTable" xlink:title="FairValueByBalanceSheetGroupingTable" />
    <link:label xlink:type="resource" xlink:label="us-gaap_FairValueByBalanceSheetGroupingTable_lbl" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="us-gaap_FairValueByBalanceSheetGroupingTable_lbl" xml:lang="en-US" id="us-gaap_FairValueByBalanceSheetGroupingTable_lbl">Fair Value, by Balance Sheet Grouping [Table]</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="FairValueByBalanceSheetGroupingTable" xlink:to="us-gaap_FairValueByBalanceSheetGroupingTable_lbl" xlink:title="label: FairValueByBalanceSheetGroupingTable to us-gaap_FairValueByBalanceSheetGroupingTable_lbl" />
    <link:loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2012/elts/us-gaap-2012-01-31.xsd#us-gaap_FairValueByBalanceSheetGroupingDisclosureItemAmountsAxis" xlink:label="FairValueByBalanceSheetGroupingDisclosureItemAmountsAxis" xlink:title="FairValueByBalanceSheetGroupingDisclosureItemAmountsAxis" />
    <link:label xlink:type="resource" xlink:label="us-gaap_FairValueByBalanceSheetGroupingDisclosureItemAmountsAxis_lbl" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="us-gaap_FairValueByBalanceSheetGroupingDisclosureItemAmountsAxis_lbl" xml:lang="en-US" id="us-gaap_FairValueByBalanceSheetGroupingDisclosureItemAmountsAxis_lbl">Fair Value, by Balance Sheet Grouping, Disclosure Item Amounts [Axis]</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="FairValueByBalanceSheetGroupingDisclosureItemAmountsAxis" xlink:to="us-gaap_FairValueByBalanceSheetGroupingDisclosureItemAmountsAxis_lbl" xlink:title="label: FairValueByBalanceSheetGroupingDisclosureItemAmountsAxis to us-gaap_FairValueByBalanceSheetGroupingDisclosureItemAmountsAxis_lbl" />
    <link:loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2012/elts/us-gaap-2012-01-31.xsd#us-gaap_FinancialInstrumentsFinancialLiabilitiesBalanceSheetGroupingsAbstract" xlink:label="FinancialInstrumentsFinancialLiabilitiesBalanceSheetGroupingsAbstract" xlink:title="FinancialInstrumentsFinancialLiabilitiesBalanceSheetGroupingsAbstract" />
    <link:label xlink:type="resource" xlink:label="us-gaap_FinancialInstrumentsFinancialLiabilitiesBalanceSheetGroupingsAbstract_lbl" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="us-gaap_FinancialInstrumentsFinancialLiabilitiesBalanceSheetGroupingsAbstract_lbl" xml:lang="en-US" id="us-gaap_FinancialInstrumentsFinancialLiabilitiesBalanceSheetGroupingsAbstract_lbl">FINANCIAL LIABILITIES [Abstract]</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="FinancialInstrumentsFinancialLiabilitiesBalanceSheetGroupingsAbstract" xlink:to="us-gaap_FinancialInstrumentsFinancialLiabilitiesBalanceSheetGroupingsAbstract_lbl" xlink:title="label: FinancialInstrumentsFinancialLiabilitiesBalanceSheetGroupingsAbstract to us-gaap_FinancialInstrumentsFinancialLiabilitiesBalanceSheetGroupingsAbstract_lbl" />
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    <link:loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2012/elts/us-gaap-2012-01-31.xsd#us-gaap_FiniteLivedIntangibleAssetsAmortizationExpenseYearThree" xlink:label="FiniteLivedIntangibleAssetsAmortizationExpenseYearThree" xlink:title="FiniteLivedIntangibleAssetsAmortizationExpenseYearThree" />
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    <link:label xlink:type="resource" xlink:label="us-gaap_FiniteLivedIntangibleAssetsByMajorClassAxis_lbl" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="us-gaap_FiniteLivedIntangibleAssetsByMajorClassAxis_lbl" xml:lang="en-US" id="us-gaap_FiniteLivedIntangibleAssetsByMajorClassAxis_lbl">Finite-Lived Intangible Assets by Major Class [Axis]</link:label>
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    <link:label xlink:type="resource" xlink:label="us-gaap_IncomeLossFromDiscontinuedOperationsNetOfTaxAttributableToReportingEntity_lbl" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="us-gaap_IncomeLossFromDiscontinuedOperationsNetOfTaxAttributableToReportingEntity_lbl" xml:lang="en-US" id="us-gaap_IncomeLossFromDiscontinuedOperationsNetOfTaxAttributableToReportingEntity_lbl">Income (loss) from discontinued operations - Investors Real Estate Trust</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="IncomeLossFromDiscontinuedOperationsNetOfTaxAttributableToReportingEntity" xlink:to="us-gaap_IncomeLossFromDiscontinuedOperationsNetOfTaxAttributableToReportingEntity_lbl" xlink:title="label: IncomeLossFromDiscontinuedOperationsNetOfTaxAttributableToReportingEntity to us-gaap_IncomeLossFromDiscontinuedOperationsNetOfTaxAttributableToReportingEntity_lbl" />
    <link:loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2012/elts/us-gaap-2012-01-31.xsd#us-gaap_IncreaseDecreaseInDeferredLeasingFees" xlink:label="IncreaseDecreaseInDeferredLeasingFees" xlink:title="IncreaseDecreaseInDeferredLeasingFees" />
    <link:label xlink:type="resource" xlink:label="us-gaap_IncreaseDecreaseInDeferredLeasingFees_lbl" xlink:role="http://www.xbrl.org/2009/role/negatedLabel" xlink:title="us-gaap_IncreaseDecreaseInDeferredLeasingFees_lbl" xml:lang="en-US" id="us-gaap_IncreaseDecreaseInDeferredLeasingFees_lbl">Increase in deferred charges and leasing costs</link:label>
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    <link:label xlink:type="resource" xlink:label="us-gaap_IncreaseDecreaseInDeferredLeasingFees_lbl1" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="us-gaap_IncreaseDecreaseInDeferredLeasingFees_lbl1" xml:lang="en-US" id="us-gaap_IncreaseDecreaseInDeferredLeasingFees_lbl1">Increase (Decrease) in Deferred Leasing Fees</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="IncreaseDecreaseInDeferredLeasingFees" xlink:to="us-gaap_IncreaseDecreaseInDeferredLeasingFees_lbl1" xlink:title="label: IncreaseDecreaseInDeferredLeasingFees to us-gaap_IncreaseDecreaseInDeferredLeasingFees_lbl1" />
    <link:loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2012/elts/us-gaap-2012-01-31.xsd#us-gaap_IncreaseDecreaseInAccountsReceivable" xlink:label="IncreaseDecreaseInAccountsReceivable" xlink:title="IncreaseDecreaseInAccountsReceivable" />
    <link:label xlink:type="resource" xlink:label="us-gaap_IncreaseDecreaseInAccountsReceivable_lbl" xlink:role="http://www.xbrl.org/2009/role/negatedLabel" xlink:title="us-gaap_IncreaseDecreaseInAccountsReceivable_lbl" xml:lang="en-US" id="us-gaap_IncreaseDecreaseInAccountsReceivable_lbl">Decrease in accounts receivable</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="IncreaseDecreaseInAccountsReceivable" xlink:to="us-gaap_IncreaseDecreaseInAccountsReceivable_lbl" xlink:title="label: IncreaseDecreaseInAccountsReceivable to us-gaap_IncreaseDecreaseInAccountsReceivable_lbl" />
    <link:label xlink:type="resource" xlink:label="us-gaap_IncreaseDecreaseInAccountsReceivable_lbl1" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="us-gaap_IncreaseDecreaseInAccountsReceivable_lbl1" xml:lang="en-US" id="us-gaap_IncreaseDecreaseInAccountsReceivable_lbl1">Increase (Decrease) in Accounts Receivable</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="IncreaseDecreaseInAccountsReceivable" xlink:to="us-gaap_IncreaseDecreaseInAccountsReceivable_lbl1" xlink:title="label: IncreaseDecreaseInAccountsReceivable to us-gaap_IncreaseDecreaseInAccountsReceivable_lbl1" />
    <link:loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2012/elts/us-gaap-2012-01-31.xsd#us-gaap_IncreaseDecreaseInAccountsPayableAndAccruedLiabilities" xlink:label="IncreaseDecreaseInAccountsPayableAndAccruedLiabilities" xlink:title="IncreaseDecreaseInAccountsPayableAndAccruedLiabilities" />
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    <link:loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2012/elts/us-gaap-2012-01-31.xsd#us-gaap_IncreaseDecreaseInOperatingCapitalAbstract" xlink:label="IncreaseDecreaseInOperatingCapitalAbstract" xlink:title="IncreaseDecreaseInOperatingCapitalAbstract" />
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    <link:loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2012/elts/us-gaap-2012-01-31.xsd#us-gaap_IncreaseDecreaseInOperatingAssets" xlink:label="IncreaseDecreaseInOperatingAssets" xlink:title="IncreaseDecreaseInOperatingAssets" />
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    <link:loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2012/elts/us-gaap-2012-01-31.xsd#us-gaap_IncreaseDecreaseInPrepaidDeferredExpenseAndOtherAssets" xlink:label="IncreaseDecreaseInPrepaidDeferredExpenseAndOtherAssets" xlink:title="IncreaseDecreaseInPrepaidDeferredExpenseAndOtherAssets" />
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    <link:loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2012/elts/us-gaap-2012-01-31.xsd#us-gaap_IntangibleAssetsNetExcludingGoodwill" xlink:label="IntangibleAssetsNetExcludingGoodwill" xlink:title="IntangibleAssetsNetExcludingGoodwill" />
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    <link:loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2012/elts/us-gaap-2012-01-31.xsd#us-gaap_InterestExpense" xlink:label="InterestExpense" xlink:title="InterestExpense" />
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    <link:loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2012/elts/us-gaap-2012-01-31.xsd#us-gaap_InterestPaid" xlink:label="InterestPaid" xlink:title="InterestPaid" />
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    <link:loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2012/elts/us-gaap-2012-01-31.xsd#us-gaap_Investments" xlink:label="Investments" xlink:title="Investments" />
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    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="Investments" xlink:to="us-gaap_Investments_lbl" xlink:title="label: Investments to us-gaap_Investments_lbl" />
    <link:label xlink:type="resource" xlink:label="us-gaap_Investments_lbl1" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="us-gaap_Investments_lbl1" xml:lang="en-US" id="us-gaap_Investments_lbl1">Investments</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="Investments" xlink:to="us-gaap_Investments_lbl1" xlink:title="label: Investments to us-gaap_Investments_lbl1" />
    <link:loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2012/elts/us-gaap-2012-01-31.xsd#us-gaap_InvestmentsAbstract" xlink:label="InvestmentsAbstract" xlink:title="InvestmentsAbstract" />
    <link:label xlink:type="resource" xlink:label="us-gaap_InvestmentsAbstract_lbl" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="us-gaap_InvestmentsAbstract_lbl" xml:lang="en-US" id="us-gaap_InvestmentsAbstract_lbl">Real estate investments</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="InvestmentsAbstract" xlink:to="us-gaap_InvestmentsAbstract_lbl" xlink:title="label: InvestmentsAbstract to us-gaap_InvestmentsAbstract_lbl" />
    <link:loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2012/elts/us-gaap-2012-01-31.xsd#us-gaap_InvestmentsFairValueDisclosure" xlink:label="InvestmentsFairValueDisclosure" xlink:title="InvestmentsFairValueDisclosure" />
    <link:label xlink:type="resource" xlink:label="us-gaap_InvestmentsFairValueDisclosure_lbl" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:title="us-gaap_InvestmentsFairValueDisclosure_lbl" xml:lang="en-US" id="us-gaap_InvestmentsFairValueDisclosure_lbl">Other investments</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="InvestmentsFairValueDisclosure" xlink:to="us-gaap_InvestmentsFairValueDisclosure_lbl" xlink:title="label: InvestmentsFairValueDisclosure to us-gaap_InvestmentsFairValueDisclosure_lbl" />
    <link:label xlink:type="resource" xlink:label="us-gaap_InvestmentsFairValueDisclosure_lbl1" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="us-gaap_InvestmentsFairValueDisclosure_lbl1" xml:lang="en-US" id="us-gaap_InvestmentsFairValueDisclosure_lbl1">Investments, Fair Value Disclosure</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="InvestmentsFairValueDisclosure" xlink:to="us-gaap_InvestmentsFairValueDisclosure_lbl1" xlink:title="label: InvestmentsFairValueDisclosure to us-gaap_InvestmentsFairValueDisclosure_lbl1" />
    <link:loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2012/elts/us-gaap-2012-01-31.xsd#us-gaap_IssuanceOfEquityMember" xlink:label="IssuanceOfEquityMember" xlink:title="IssuanceOfEquityMember" />
    <link:label xlink:type="resource" xlink:label="us-gaap_IssuanceOfEquityMember_lbl" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="us-gaap_IssuanceOfEquityMember_lbl" xml:lang="en-US" id="us-gaap_IssuanceOfEquityMember_lbl">Issuance of Equity [Member]</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="IssuanceOfEquityMember" xlink:to="us-gaap_IssuanceOfEquityMember_lbl" xlink:title="label: IssuanceOfEquityMember to us-gaap_IssuanceOfEquityMember_lbl" />
    <link:loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2012/elts/us-gaap-2012-01-31.xsd#us-gaap_LongtermDebtPercentageBearingFixedInterestAmount" xlink:label="LongtermDebtPercentageBearingFixedInterestAmount" xlink:title="LongtermDebtPercentageBearingFixedInterestAmount" />
    <link:label xlink:type="resource" xlink:label="us-gaap_LongtermDebtPercentageBearingFixedInterestAmount_lbl" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="us-gaap_LongtermDebtPercentageBearingFixedInterestAmount_lbl" xml:lang="en-US" id="us-gaap_LongtermDebtPercentageBearingFixedInterestAmount_lbl">Fixed rate mortgages</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="LongtermDebtPercentageBearingFixedInterestAmount" xlink:to="us-gaap_LongtermDebtPercentageBearingFixedInterestAmount_lbl" xlink:title="label: LongtermDebtPercentageBearingFixedInterestAmount to us-gaap_LongtermDebtPercentageBearingFixedInterestAmount_lbl" />
    <link:loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2012/elts/us-gaap-2012-01-31.xsd#us-gaap_LongtermDebtPercentageBearingVariableInterestAmount" xlink:label="LongtermDebtPercentageBearingVariableInterestAmount" xlink:title="LongtermDebtPercentageBearingVariableInterestAmount" />
    <link:label xlink:type="resource" xlink:label="us-gaap_LongtermDebtPercentageBearingVariableInterestAmount_lbl" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="us-gaap_LongtermDebtPercentageBearingVariableInterestAmount_lbl" xml:lang="en-US" id="us-gaap_LongtermDebtPercentageBearingVariableInterestAmount_lbl">Variable rate mortgages</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="LongtermDebtPercentageBearingVariableInterestAmount" xlink:to="us-gaap_LongtermDebtPercentageBearingVariableInterestAmount_lbl" xlink:title="label: LongtermDebtPercentageBearingVariableInterestAmount to us-gaap_LongtermDebtPercentageBearingVariableInterestAmount_lbl" />
    <link:loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2012/elts/us-gaap-2012-01-31.xsd#us-gaap_LongtermDebtWeightedAverageInterestRate" xlink:label="LongtermDebtWeightedAverageInterestRate" xlink:title="LongtermDebtWeightedAverageInterestRate" />
    <link:label xlink:type="resource" xlink:label="us-gaap_LongtermDebtWeightedAverageInterestRate_lbl" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="us-gaap_LongtermDebtWeightedAverageInterestRate_lbl" xml:lang="en-US" id="us-gaap_LongtermDebtWeightedAverageInterestRate_lbl">Weighted average rate of interest on mortgage debt (in hundredths)</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="LongtermDebtWeightedAverageInterestRate" xlink:to="us-gaap_LongtermDebtWeightedAverageInterestRate_lbl" xlink:title="label: LongtermDebtWeightedAverageInterestRate to us-gaap_LongtermDebtWeightedAverageInterestRate_lbl" />
    <link:loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2012/elts/us-gaap-2012-01-31.xsd#us-gaap_LandAvailableForDevelopment" xlink:label="LandAvailableForDevelopment" xlink:title="LandAvailableForDevelopment" />
    <link:label xlink:type="resource" xlink:label="us-gaap_LandAvailableForDevelopment_lbl" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="us-gaap_LandAvailableForDevelopment_lbl" xml:lang="en-US" id="us-gaap_LandAvailableForDevelopment_lbl">Unimproved land</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="LandAvailableForDevelopment" xlink:to="us-gaap_LandAvailableForDevelopment_lbl" xlink:title="label: LandAvailableForDevelopment to us-gaap_LandAvailableForDevelopment_lbl" />
    <link:loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2012/elts/us-gaap-2012-01-31.xsd#us-gaap_LeasesAcquiredInPlaceMember" xlink:label="LeasesAcquiredInPlaceMember" xlink:title="LeasesAcquiredInPlaceMember" />
    <link:label xlink:type="resource" xlink:label="us-gaap_LeasesAcquiredInPlaceMember_lbl" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:title="us-gaap_LeasesAcquiredInPlaceMember_lbl" xml:lang="en-US" id="us-gaap_LeasesAcquiredInPlaceMember_lbl">Acquired below-market leases and acquired above-market leases [Member]</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="LeasesAcquiredInPlaceMember" xlink:to="us-gaap_LeasesAcquiredInPlaceMember_lbl" xlink:title="label: LeasesAcquiredInPlaceMember to us-gaap_LeasesAcquiredInPlaceMember_lbl" />
    <link:label xlink:type="resource" xlink:label="us-gaap_LeasesAcquiredInPlaceMember_lbl1" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="us-gaap_LeasesAcquiredInPlaceMember_lbl1" xml:lang="en-US" id="us-gaap_LeasesAcquiredInPlaceMember_lbl1">Leases, Acquired-in-Place [Member]</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="LeasesAcquiredInPlaceMember" xlink:to="us-gaap_LeasesAcquiredInPlaceMember_lbl1" xlink:title="label: LeasesAcquiredInPlaceMember to us-gaap_LeasesAcquiredInPlaceMember_lbl1" />
    <link:loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2012/elts/us-gaap-2012-01-31.xsd#us-gaap_LiabilitiesAbstract" xlink:label="LiabilitiesAbstract" xlink:title="LiabilitiesAbstract" />
    <link:label xlink:type="resource" xlink:label="us-gaap_LiabilitiesAbstract_lbl" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="us-gaap_LiabilitiesAbstract_lbl" xml:lang="en-US" id="us-gaap_LiabilitiesAbstract_lbl">LIABILITIES</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="LiabilitiesAbstract" xlink:to="us-gaap_LiabilitiesAbstract_lbl" xlink:title="label: LiabilitiesAbstract to us-gaap_LiabilitiesAbstract_lbl" />
    <link:loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2012/elts/us-gaap-2012-01-31.xsd#us-gaap_Liabilities" xlink:label="Liabilities" xlink:title="Liabilities" />
    <link:label xlink:type="resource" xlink:label="us-gaap_Liabilities_lbl" xlink:role="http://www.xbrl.org/2003/role/totalLabel" xlink:title="us-gaap_Liabilities_lbl" xml:lang="en-US" id="us-gaap_Liabilities_lbl">TOTAL LIABILITIES</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="Liabilities" xlink:to="us-gaap_Liabilities_lbl" xlink:title="label: Liabilities to us-gaap_Liabilities_lbl" />
    <link:label xlink:type="resource" xlink:label="us-gaap_Liabilities_lbl1" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="us-gaap_Liabilities_lbl1" xml:lang="en-US" id="us-gaap_Liabilities_lbl1">Liabilities</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="Liabilities" xlink:to="us-gaap_Liabilities_lbl1" xlink:title="label: Liabilities to us-gaap_Liabilities_lbl1" />
    <link:loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2012/elts/us-gaap-2012-01-31.xsd#us-gaap_LiabilitiesAndStockholdersEquityAbstract" xlink:label="LiabilitiesAndStockholdersEquityAbstract" xlink:title="LiabilitiesAndStockholdersEquityAbstract" />
    <link:label xlink:type="resource" xlink:label="us-gaap_LiabilitiesAndStockholdersEquityAbstract_lbl" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="us-gaap_LiabilitiesAndStockholdersEquityAbstract_lbl" xml:lang="en-US" id="us-gaap_LiabilitiesAndStockholdersEquityAbstract_lbl">LIABILITIES AND SHAREHOLDERS' EQUITY</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="LiabilitiesAndStockholdersEquityAbstract" xlink:to="us-gaap_LiabilitiesAndStockholdersEquityAbstract_lbl" xlink:title="label: LiabilitiesAndStockholdersEquityAbstract to us-gaap_LiabilitiesAndStockholdersEquityAbstract_lbl" />
    <link:loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2012/elts/us-gaap-2012-01-31.xsd#us-gaap_LiabilitiesAndStockholdersEquity" xlink:label="LiabilitiesAndStockholdersEquity" xlink:title="LiabilitiesAndStockholdersEquity" />
    <link:label xlink:type="resource" xlink:label="us-gaap_LiabilitiesAndStockholdersEquity_lbl" xlink:role="http://www.xbrl.org/2003/role/totalLabel" xlink:title="us-gaap_LiabilitiesAndStockholdersEquity_lbl" xml:lang="en-US" id="us-gaap_LiabilitiesAndStockholdersEquity_lbl">TOTAL LIABILITIES AND EQUITY</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="LiabilitiesAndStockholdersEquity" xlink:to="us-gaap_LiabilitiesAndStockholdersEquity_lbl" xlink:title="label: LiabilitiesAndStockholdersEquity to us-gaap_LiabilitiesAndStockholdersEquity_lbl" />
    <link:label xlink:type="resource" xlink:label="us-gaap_LiabilitiesAndStockholdersEquity_lbl1" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="us-gaap_LiabilitiesAndStockholdersEquity_lbl1" xml:lang="en-US" id="us-gaap_LiabilitiesAndStockholdersEquity_lbl1">Liabilities and Equity</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="LiabilitiesAndStockholdersEquity" xlink:to="us-gaap_LiabilitiesAndStockholdersEquity_lbl1" xlink:title="label: LiabilitiesAndStockholdersEquity to us-gaap_LiabilitiesAndStockholdersEquity_lbl1" />
    <link:loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2012/elts/us-gaap-2012-01-31.xsd#us-gaap_LineOfCreditFacilityMaximumBorrowingCapacity" xlink:label="LineOfCreditFacilityMaximumBorrowingCapacity" xlink:title="LineOfCreditFacilityMaximumBorrowingCapacity" />
    <link:label xlink:type="resource" xlink:label="us-gaap_LineOfCreditFacilityMaximumBorrowingCapacity_lbl" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="us-gaap_LineOfCreditFacilityMaximumBorrowingCapacity_lbl" xml:lang="en-US" id="us-gaap_LineOfCreditFacilityMaximumBorrowingCapacity_lbl">Lending commitments</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="LineOfCreditFacilityMaximumBorrowingCapacity" xlink:to="us-gaap_LineOfCreditFacilityMaximumBorrowingCapacity_lbl" xlink:title="label: LineOfCreditFacilityMaximumBorrowingCapacity to us-gaap_LineOfCreditFacilityMaximumBorrowingCapacity_lbl" />
    <link:loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2012/elts/us-gaap-2012-01-31.xsd#us-gaap_LineOfCreditFacilityAmountOutstanding" xlink:label="LineOfCreditFacilityAmountOutstanding" xlink:title="LineOfCreditFacilityAmountOutstanding" />
    <link:label xlink:type="resource" xlink:label="us-gaap_LineOfCreditFacilityAmountOutstanding_lbl" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="us-gaap_LineOfCreditFacilityAmountOutstanding_lbl" xml:lang="en-US" id="us-gaap_LineOfCreditFacilityAmountOutstanding_lbl">Borrowed amount</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="LineOfCreditFacilityAmountOutstanding" xlink:to="us-gaap_LineOfCreditFacilityAmountOutstanding_lbl" xlink:title="label: LineOfCreditFacilityAmountOutstanding to us-gaap_LineOfCreditFacilityAmountOutstanding_lbl" />
    <link:loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2012/elts/us-gaap-2012-01-31.xsd#us-gaap_LineOfCreditFacilityInterestRateDuringPeriod" xlink:label="LineOfCreditFacilityInterestRateDuringPeriod" xlink:title="LineOfCreditFacilityInterestRateDuringPeriod" />
    <link:label xlink:type="resource" xlink:label="us-gaap_LineOfCreditFacilityInterestRateDuringPeriod_lbl" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="us-gaap_LineOfCreditFacilityInterestRateDuringPeriod_lbl" xml:lang="en-US" id="us-gaap_LineOfCreditFacilityInterestRateDuringPeriod_lbl">Line of credit, current interest rate (in hundredths)</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="LineOfCreditFacilityInterestRateDuringPeriod" xlink:to="us-gaap_LineOfCreditFacilityInterestRateDuringPeriod_lbl" xlink:title="label: LineOfCreditFacilityInterestRateDuringPeriod to us-gaap_LineOfCreditFacilityInterestRateDuringPeriod_lbl" />
    <link:loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2012/elts/us-gaap-2012-01-31.xsd#us-gaap_LinesOfCreditFairValueDisclosure" xlink:label="LinesOfCreditFairValueDisclosure" xlink:title="LinesOfCreditFairValueDisclosure" />
    <link:label xlink:type="resource" xlink:label="us-gaap_LinesOfCreditFairValueDisclosure_lbl" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:title="us-gaap_LinesOfCreditFairValueDisclosure_lbl" xml:lang="en-US" id="us-gaap_LinesOfCreditFairValueDisclosure_lbl">Line of credit</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="LinesOfCreditFairValueDisclosure" xlink:to="us-gaap_LinesOfCreditFairValueDisclosure_lbl" xlink:title="label: LinesOfCreditFairValueDisclosure to us-gaap_LinesOfCreditFairValueDisclosure_lbl" />
    <link:label xlink:type="resource" xlink:label="us-gaap_LinesOfCreditFairValueDisclosure_lbl1" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="us-gaap_LinesOfCreditFairValueDisclosure_lbl1" xml:lang="en-US" id="us-gaap_LinesOfCreditFairValueDisclosure_lbl1">Lines of Credit, Fair Value Disclosure</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="LinesOfCreditFairValueDisclosure" xlink:to="us-gaap_LinesOfCreditFairValueDisclosure_lbl1" xlink:title="label: LinesOfCreditFairValueDisclosure to us-gaap_LinesOfCreditFairValueDisclosure_lbl1" />
    <link:loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2012/elts/us-gaap-2012-01-31.xsd#us-gaap_LinesOfCreditCurrent" xlink:label="LinesOfCreditCurrent" xlink:title="LinesOfCreditCurrent" />
    <link:label xlink:type="resource" xlink:label="us-gaap_LinesOfCreditCurrent_lbl" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="us-gaap_LinesOfCreditCurrent_lbl" xml:lang="en-US" id="us-gaap_LinesOfCreditCurrent_lbl">Revolving line of credit</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="LinesOfCreditCurrent" xlink:to="us-gaap_LinesOfCreditCurrent_lbl" xlink:title="label: LinesOfCreditCurrent to us-gaap_LinesOfCreditCurrent_lbl" />
    <link:loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2012/elts/us-gaap-2012-01-31.xsd#us-gaap_LoansPayableFairValueDisclosure" xlink:label="LoansPayableFairValueDisclosure" xlink:title="LoansPayableFairValueDisclosure" />
    <link:label xlink:type="resource" xlink:label="us-gaap_LoansPayableFairValueDisclosure_lbl" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="us-gaap_LoansPayableFairValueDisclosure_lbl" xml:lang="en-US" id="us-gaap_LoansPayableFairValueDisclosure_lbl">Other debt</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="LoansPayableFairValueDisclosure" xlink:to="us-gaap_LoansPayableFairValueDisclosure_lbl" xlink:title="label: LoansPayableFairValueDisclosure to us-gaap_LoansPayableFairValueDisclosure_lbl" />
    <link:loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2012/elts/us-gaap-2012-01-31.xsd#us-gaap_LoansReceivableFairValueDisclosure" xlink:label="LoansReceivableFairValueDisclosure" xlink:title="LoansReceivableFairValueDisclosure" />
    <link:label xlink:type="resource" xlink:label="us-gaap_LoansReceivableFairValueDisclosure_lbl" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:title="us-gaap_LoansReceivableFairValueDisclosure_lbl" xml:lang="en-US" id="us-gaap_LoansReceivableFairValueDisclosure_lbl">Mortgage loans receivable</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="LoansReceivableFairValueDisclosure" xlink:to="us-gaap_LoansReceivableFairValueDisclosure_lbl" xlink:title="label: LoansReceivableFairValueDisclosure to us-gaap_LoansReceivableFairValueDisclosure_lbl" />
    <link:label xlink:type="resource" xlink:label="us-gaap_LoansReceivableFairValueDisclosure_lbl1" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="us-gaap_LoansReceivableFairValueDisclosure_lbl1" xml:lang="en-US" id="us-gaap_LoansReceivableFairValueDisclosure_lbl1">Loans Receivable, Fair Value Disclosure</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="LoansReceivableFairValueDisclosure" xlink:to="us-gaap_LoansReceivableFairValueDisclosure_lbl1" xlink:title="label: LoansReceivableFairValueDisclosure to us-gaap_LoansReceivableFairValueDisclosure_lbl1" />
    <link:loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2012/elts/us-gaap-2012-01-31.xsd#us-gaap_LoansAndLeasesReceivableOtherAllowance" xlink:label="LoansAndLeasesReceivableOtherAllowance" xlink:title="LoansAndLeasesReceivableOtherAllowance" />
    <link:label xlink:type="resource" xlink:label="us-gaap_LoansAndLeasesReceivableOtherAllowance_lbl" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="us-gaap_LoansAndLeasesReceivableOtherAllowance_lbl" xml:lang="en-US" id="us-gaap_LoansAndLeasesReceivableOtherAllowance_lbl">Receivable arising from straight-lining of rents, allowance</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="LoansAndLeasesReceivableOtherAllowance" xlink:to="us-gaap_LoansAndLeasesReceivableOtherAllowance_lbl" xlink:title="label: LoansAndLeasesReceivableOtherAllowance to us-gaap_LoansAndLeasesReceivableOtherAllowance_lbl" />
    <link:loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2012/elts/us-gaap-2012-01-31.xsd#us-gaap_LongTermDebt" xlink:label="LongTermDebt" xlink:title="LongTermDebt" />
    <link:label xlink:type="resource" xlink:label="us-gaap_LongTermDebt_lbl" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="us-gaap_LongTermDebt_lbl" xml:lang="en-US" id="us-gaap_LongTermDebt_lbl">Mortgages payable</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="LongTermDebt" xlink:to="us-gaap_LongTermDebt_lbl" xlink:title="label: LongTermDebt to us-gaap_LongTermDebt_lbl" />
    <link:label xlink:type="resource" xlink:label="us-gaap_LongTermDebt_lbl1" xlink:role="http://www.xbrl.org/2003/role/totalLabel" xlink:title="us-gaap_LongTermDebt_lbl1" xml:lang="en-US" id="us-gaap_LongTermDebt_lbl1">Total payments</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="LongTermDebt" xlink:to="us-gaap_LongTermDebt_lbl1" xlink:title="label: LongTermDebt to us-gaap_LongTermDebt_lbl1" />
    <link:loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2012/elts/us-gaap-2012-01-31.xsd#us-gaap_LongTermDebtByMaturityAbstract" xlink:label="LongTermDebtByMaturityAbstract" xlink:title="LongTermDebtByMaturityAbstract" />
    <link:label xlink:type="resource" xlink:label="us-gaap_LongTermDebtByMaturityAbstract_lbl" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="us-gaap_LongTermDebtByMaturityAbstract_lbl" xml:lang="en-US" id="us-gaap_LongTermDebtByMaturityAbstract_lbl">Aggregate amount of required future principal payments on mortgages payable [Abstract]</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="LongTermDebtByMaturityAbstract" xlink:to="us-gaap_LongTermDebtByMaturityAbstract_lbl" xlink:title="label: LongTermDebtByMaturityAbstract to us-gaap_LongTermDebtByMaturityAbstract_lbl" />
    <link:loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2012/elts/us-gaap-2012-01-31.xsd#us-gaap_LongTermDebtMaturitiesRepaymentsOfPrincipalInYearThree" xlink:label="LongTermDebtMaturitiesRepaymentsOfPrincipalInYearThree" xlink:title="LongTermDebtMaturitiesRepaymentsOfPrincipalInYearThree" />
    <link:label xlink:type="resource" xlink:label="us-gaap_LongTermDebtMaturitiesRepaymentsOfPrincipalInYearThree_lbl" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="us-gaap_LongTermDebtMaturitiesRepaymentsOfPrincipalInYearThree_lbl" xml:lang="en-US" id="us-gaap_LongTermDebtMaturitiesRepaymentsOfPrincipalInYearThree_lbl">2015</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="LongTermDebtMaturitiesRepaymentsOfPrincipalInYearThree" xlink:to="us-gaap_LongTermDebtMaturitiesRepaymentsOfPrincipalInYearThree_lbl" xlink:title="label: LongTermDebtMaturitiesRepaymentsOfPrincipalInYearThree to us-gaap_LongTermDebtMaturitiesRepaymentsOfPrincipalInYearThree_lbl" />
    <link:loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2012/elts/us-gaap-2012-01-31.xsd#us-gaap_LongTermDebtMaturitiesRepaymentsOfPrincipalInYearTwo" xlink:label="LongTermDebtMaturitiesRepaymentsOfPrincipalInYearTwo" xlink:title="LongTermDebtMaturitiesRepaymentsOfPrincipalInYearTwo" />
    <link:label xlink:type="resource" xlink:label="us-gaap_LongTermDebtMaturitiesRepaymentsOfPrincipalInYearTwo_lbl" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="us-gaap_LongTermDebtMaturitiesRepaymentsOfPrincipalInYearTwo_lbl" xml:lang="en-US" id="us-gaap_LongTermDebtMaturitiesRepaymentsOfPrincipalInYearTwo_lbl">2014</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="LongTermDebtMaturitiesRepaymentsOfPrincipalInYearTwo" xlink:to="us-gaap_LongTermDebtMaturitiesRepaymentsOfPrincipalInYearTwo_lbl" xlink:title="label: LongTermDebtMaturitiesRepaymentsOfPrincipalInYearTwo to us-gaap_LongTermDebtMaturitiesRepaymentsOfPrincipalInYearTwo_lbl" />
    <link:loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2012/elts/us-gaap-2012-01-31.xsd#us-gaap_LongTermDebtMaturitiesRepaymentsOfPrincipalInYearFour" xlink:label="LongTermDebtMaturitiesRepaymentsOfPrincipalInYearFour" xlink:title="LongTermDebtMaturitiesRepaymentsOfPrincipalInYearFour" />
    <link:label xlink:type="resource" xlink:label="us-gaap_LongTermDebtMaturitiesRepaymentsOfPrincipalInYearFour_lbl" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="us-gaap_LongTermDebtMaturitiesRepaymentsOfPrincipalInYearFour_lbl" xml:lang="en-US" id="us-gaap_LongTermDebtMaturitiesRepaymentsOfPrincipalInYearFour_lbl">2016</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="LongTermDebtMaturitiesRepaymentsOfPrincipalInYearFour" xlink:to="us-gaap_LongTermDebtMaturitiesRepaymentsOfPrincipalInYearFour_lbl" xlink:title="label: LongTermDebtMaturitiesRepaymentsOfPrincipalInYearFour to us-gaap_LongTermDebtMaturitiesRepaymentsOfPrincipalInYearFour_lbl" />
    <link:loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2012/elts/us-gaap-2012-01-31.xsd#us-gaap_LongTermDebtMaturitiesRepaymentsOfPrincipalInNextTwelveMonths" xlink:label="LongTermDebtMaturitiesRepaymentsOfPrincipalInNextTwelveMonths" xlink:title="LongTermDebtMaturitiesRepaymentsOfPrincipalInNextTwelveMonths" />
    <link:label xlink:type="resource" xlink:label="us-gaap_LongTermDebtMaturitiesRepaymentsOfPrincipalInNextTwelveMonths_lbl" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="us-gaap_LongTermDebtMaturitiesRepaymentsOfPrincipalInNextTwelveMonths_lbl" xml:lang="en-US" id="us-gaap_LongTermDebtMaturitiesRepaymentsOfPrincipalInNextTwelveMonths_lbl">2013 (remainder)</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="LongTermDebtMaturitiesRepaymentsOfPrincipalInNextTwelveMonths" xlink:to="us-gaap_LongTermDebtMaturitiesRepaymentsOfPrincipalInNextTwelveMonths_lbl" xlink:title="label: LongTermDebtMaturitiesRepaymentsOfPrincipalInNextTwelveMonths to us-gaap_LongTermDebtMaturitiesRepaymentsOfPrincipalInNextTwelveMonths_lbl" />
    <link:loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2012/elts/us-gaap-2012-01-31.xsd#us-gaap_LongTermDebtMaturitiesRepaymentsOfPrincipalInYearFive" xlink:label="LongTermDebtMaturitiesRepaymentsOfPrincipalInYearFive" xlink:title="LongTermDebtMaturitiesRepaymentsOfPrincipalInYearFive" />
    <link:label xlink:type="resource" xlink:label="us-gaap_LongTermDebtMaturitiesRepaymentsOfPrincipalInYearFive_lbl" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="us-gaap_LongTermDebtMaturitiesRepaymentsOfPrincipalInYearFive_lbl" xml:lang="en-US" id="us-gaap_LongTermDebtMaturitiesRepaymentsOfPrincipalInYearFive_lbl">2017</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="LongTermDebtMaturitiesRepaymentsOfPrincipalInYearFive" xlink:to="us-gaap_LongTermDebtMaturitiesRepaymentsOfPrincipalInYearFive_lbl" xlink:title="label: LongTermDebtMaturitiesRepaymentsOfPrincipalInYearFive to us-gaap_LongTermDebtMaturitiesRepaymentsOfPrincipalInYearFive_lbl" />
    <link:loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2012/elts/us-gaap-2012-01-31.xsd#us-gaap_LongTermDebtMaturitiesRepaymentsOfPrincipalAfterYearFive" xlink:label="LongTermDebtMaturitiesRepaymentsOfPrincipalAfterYearFive" xlink:title="LongTermDebtMaturitiesRepaymentsOfPrincipalAfterYearFive" />
    <link:label xlink:type="resource" xlink:label="us-gaap_LongTermDebtMaturitiesRepaymentsOfPrincipalAfterYearFive_lbl" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="us-gaap_LongTermDebtMaturitiesRepaymentsOfPrincipalAfterYearFive_lbl" xml:lang="en-US" id="us-gaap_LongTermDebtMaturitiesRepaymentsOfPrincipalAfterYearFive_lbl">Thereafter</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="LongTermDebtMaturitiesRepaymentsOfPrincipalAfterYearFive" xlink:to="us-gaap_LongTermDebtMaturitiesRepaymentsOfPrincipalAfterYearFive_lbl" xlink:title="label: LongTermDebtMaturitiesRepaymentsOfPrincipalAfterYearFive to us-gaap_LongTermDebtMaturitiesRepaymentsOfPrincipalAfterYearFive_lbl" />
    <link:loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2012/elts/us-gaap-2012-01-31.xsd#us-gaap_MinorityInterestInNetIncomeLossOperatingPartnerships" xlink:label="MinorityInterestInNetIncomeLossOperatingPartnerships" xlink:title="MinorityInterestInNetIncomeLossOperatingPartnerships" />
    <link:label xlink:type="resource" xlink:label="us-gaap_MinorityInterestInNetIncomeLossOperatingPartnerships_lbl" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="us-gaap_MinorityInterestInNetIncomeLossOperatingPartnerships_lbl" xml:lang="en-US" id="us-gaap_MinorityInterestInNetIncomeLossOperatingPartnerships_lbl">Net income attributable to noncontrolling interests - Operating Partnership</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="MinorityInterestInNetIncomeLossOperatingPartnerships" xlink:to="us-gaap_MinorityInterestInNetIncomeLossOperatingPartnerships_lbl" xlink:title="label: MinorityInterestInNetIncomeLossOperatingPartnerships to us-gaap_MinorityInterestInNetIncomeLossOperatingPartnerships_lbl" />
    <link:label xlink:type="resource" xlink:label="us-gaap_MinorityInterestInNetIncomeLossOperatingPartnerships_lbl1" xlink:role="http://www.xbrl.org/2009/role/negatedLabel" xlink:title="us-gaap_MinorityInterestInNetIncomeLossOperatingPartnerships_lbl1" xml:lang="en-US" id="us-gaap_MinorityInterestInNetIncomeLossOperatingPartnerships_lbl1">Noncontrolling interests - Operating Partnership</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="MinorityInterestInNetIncomeLossOperatingPartnerships" xlink:to="us-gaap_MinorityInterestInNetIncomeLossOperatingPartnerships_lbl1" xlink:title="label: MinorityInterestInNetIncomeLossOperatingPartnerships to us-gaap_MinorityInterestInNetIncomeLossOperatingPartnerships_lbl1" />
    <link:loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2012/elts/us-gaap-2012-01-31.xsd#us-gaap_MinorityInterestInOperatingPartnerships" xlink:label="MinorityInterestInOperatingPartnerships" xlink:title="MinorityInterestInOperatingPartnerships" />
    <link:label xlink:type="resource" xlink:label="us-gaap_MinorityInterestInOperatingPartnerships_lbl" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="us-gaap_MinorityInterestInOperatingPartnerships_lbl" xml:lang="en-US" id="us-gaap_MinorityInterestInOperatingPartnerships_lbl">Noncontrolling interests - consolidated real estate entities</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="MinorityInterestInOperatingPartnerships" xlink:to="us-gaap_MinorityInterestInOperatingPartnerships_lbl" xlink:title="label: MinorityInterestInOperatingPartnerships to us-gaap_MinorityInterestInOperatingPartnerships_lbl" />
    <link:loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2012/elts/us-gaap-2012-01-31.xsd#us-gaap_MinorityInterest" xlink:label="MinorityInterest" xlink:title="MinorityInterest" />
    <link:label xlink:type="resource" xlink:label="us-gaap_MinorityInterest_lbl" xlink:role="http://www.xbrl.org/2003/role/periodEndLabel" xlink:title="us-gaap_MinorityInterest_lbl" xml:lang="en-US" id="us-gaap_MinorityInterest_lbl">Balance at Ocotober 31</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="MinorityInterest" xlink:to="us-gaap_MinorityInterest_lbl" xlink:title="label: MinorityInterest to us-gaap_MinorityInterest_lbl" />
    <link:label xlink:type="resource" xlink:label="us-gaap_MinorityInterest_lbl1" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="us-gaap_MinorityInterest_lbl1" xml:lang="en-US" id="us-gaap_MinorityInterest_lbl1">Stockholders' Equity Attributable to Noncontrolling Interest</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="MinorityInterest" xlink:to="us-gaap_MinorityInterest_lbl1" xlink:title="label: MinorityInterest to us-gaap_MinorityInterest_lbl1" />
    <link:loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2012/elts/us-gaap-2012-01-31.xsd#us-gaap_MinorityInterestDecreaseFromDistributionsToNoncontrollingInterestHolders" xlink:label="MinorityInterestDecreaseFromDistributionsToNoncontrollingInterestHolders" xlink:title="MinorityInterestDecreaseFromDistributionsToNoncontrollingInterestHolders" />
    <link:label xlink:type="resource" xlink:label="us-gaap_MinorityInterestDecreaseFromDistributionsToNoncontrollingInterestHolders_lbl" xlink:role="http://www.xbrl.org/2009/role/negatedLabel" xlink:title="us-gaap_MinorityInterestDecreaseFromDistributionsToNoncontrollingInterestHolders_lbl" xml:lang="en-US" id="us-gaap_MinorityInterestDecreaseFromDistributionsToNoncontrollingInterestHolders_lbl">Distributions</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="MinorityInterestDecreaseFromDistributionsToNoncontrollingInterestHolders" xlink:to="us-gaap_MinorityInterestDecreaseFromDistributionsToNoncontrollingInterestHolders_lbl" xlink:title="label: MinorityInterestDecreaseFromDistributionsToNoncontrollingInterestHolders to us-gaap_MinorityInterestDecreaseFromDistributionsToNoncontrollingInterestHolders_lbl" />
    <link:label xlink:type="resource" xlink:label="us-gaap_MinorityInterestDecreaseFromDistributionsToNoncontrollingInterestHolders_lbl1" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="us-gaap_MinorityInterestDecreaseFromDistributionsToNoncontrollingInterestHolders_lbl1" xml:lang="en-US" id="us-gaap_MinorityInterestDecreaseFromDistributionsToNoncontrollingInterestHolders_lbl1">Noncontrolling Interest, Decrease from Distributions to Noncontrolling Interest Holders</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="MinorityInterestDecreaseFromDistributionsToNoncontrollingInterestHolders" xlink:to="us-gaap_MinorityInterestDecreaseFromDistributionsToNoncontrollingInterestHolders_lbl1" xlink:title="label: MinorityInterestDecreaseFromDistributionsToNoncontrollingInterestHolders to us-gaap_MinorityInterestDecreaseFromDistributionsToNoncontrollingInterestHolders_lbl1" />
    <link:loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2012/elts/us-gaap-2012-01-31.xsd#us-gaap_MinorityInterestDecreaseFromRedemptions" xlink:label="MinorityInterestDecreaseFromRedemptions" xlink:title="MinorityInterestDecreaseFromRedemptions" />
    <link:label xlink:type="resource" xlink:label="us-gaap_MinorityInterestDecreaseFromRedemptions_lbl" xlink:role="http://www.xbrl.org/2009/role/negatedLabel" xlink:title="us-gaap_MinorityInterestDecreaseFromRedemptions_lbl" xml:lang="en-US" id="us-gaap_MinorityInterestDecreaseFromRedemptions_lbl">Adjustments to redeemable noncontrolling interests</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="MinorityInterestDecreaseFromRedemptions" xlink:to="us-gaap_MinorityInterestDecreaseFromRedemptions_lbl" xlink:title="label: MinorityInterestDecreaseFromRedemptions to us-gaap_MinorityInterestDecreaseFromRedemptions_lbl" />
    <link:label xlink:type="resource" xlink:label="us-gaap_MinorityInterestDecreaseFromRedemptions_lbl1" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="us-gaap_MinorityInterestDecreaseFromRedemptions_lbl1" xml:lang="en-US" id="us-gaap_MinorityInterestDecreaseFromRedemptions_lbl1">Noncontrolling Interest, Decrease from Redemptions or Purchase of Interests</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="MinorityInterestDecreaseFromRedemptions" xlink:to="us-gaap_MinorityInterestDecreaseFromRedemptions_lbl1" xlink:title="label: MinorityInterestDecreaseFromRedemptions to us-gaap_MinorityInterestDecreaseFromRedemptions_lbl1" />
    <link:loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2012/elts/us-gaap-2012-01-31.xsd#us-gaap_MinorityInterestInPreferredUnitHolders" xlink:label="MinorityInterestInPreferredUnitHolders" xlink:title="MinorityInterestInPreferredUnitHolders" />
    <link:label xlink:type="resource" xlink:label="us-gaap_MinorityInterestInPreferredUnitHolders_lbl" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="us-gaap_MinorityInterestInPreferredUnitHolders_lbl" xml:lang="en-US" id="us-gaap_MinorityInterestInPreferredUnitHolders_lbl">Noncontrolling interests - Operating Partnership (21,489,458 units at January 31, 2013 and 20,332,415 units at April 30, 2012)</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="MinorityInterestInPreferredUnitHolders" xlink:to="us-gaap_MinorityInterestInPreferredUnitHolders_lbl" xlink:title="label: MinorityInterestInPreferredUnitHolders to us-gaap_MinorityInterestInPreferredUnitHolders_lbl" />
    <link:loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2012/elts/us-gaap-2012-01-31.xsd#us-gaap_MinorityInterestIncreaseFromStockIssuance" xlink:label="MinorityInterestIncreaseFromStockIssuance" xlink:title="MinorityInterestIncreaseFromStockIssuance" />
    <link:label xlink:type="resource" xlink:label="us-gaap_MinorityInterestIncreaseFromStockIssuance_lbl" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="us-gaap_MinorityInterestIncreaseFromStockIssuance_lbl" xml:lang="en-US" id="us-gaap_MinorityInterestIncreaseFromStockIssuance_lbl">Contributions from noncontrolling interests - consolidated real estate entities</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="MinorityInterestIncreaseFromStockIssuance" xlink:to="us-gaap_MinorityInterestIncreaseFromStockIssuance_lbl" xlink:title="label: MinorityInterestIncreaseFromStockIssuance to us-gaap_MinorityInterestIncreaseFromStockIssuance_lbl" />
    <link:loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2012/elts/us-gaap-2012-01-31.xsd#us-gaap_MortgageLoansOnRealEstateMaximumInterestRateInRange" xlink:label="MortgageLoansOnRealEstateMaximumInterestRateInRange" xlink:title="MortgageLoansOnRealEstateMaximumInterestRateInRange" />
    <link:label xlink:type="resource" xlink:label="us-gaap_MortgageLoansOnRealEstateMaximumInterestRateInRange_lbl" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="us-gaap_MortgageLoansOnRealEstateMaximumInterestRateInRange_lbl" xml:lang="en-US" id="us-gaap_MortgageLoansOnRealEstateMaximumInterestRateInRange_lbl">Interest rates on mortgages payable range, maximum (in hundredths)</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="MortgageLoansOnRealEstateMaximumInterestRateInRange" xlink:to="us-gaap_MortgageLoansOnRealEstateMaximumInterestRateInRange_lbl" xlink:title="label: MortgageLoansOnRealEstateMaximumInterestRateInRange to us-gaap_MortgageLoansOnRealEstateMaximumInterestRateInRange_lbl" />
    <link:loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2012/elts/us-gaap-2012-01-31.xsd#us-gaap_MortgageLoanRelatedToPropertySales1" xlink:label="MortgageLoanRelatedToPropertySales1" xlink:title="MortgageLoanRelatedToPropertySales1" />
    <link:label xlink:type="resource" xlink:label="us-gaap_MortgageLoanRelatedToPropertySales1_lbl" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="us-gaap_MortgageLoanRelatedToPropertySales1_lbl" xml:lang="en-US" id="us-gaap_MortgageLoanRelatedToPropertySales1_lbl">Mortgages included in real estate dispositions</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="MortgageLoanRelatedToPropertySales1" xlink:to="us-gaap_MortgageLoanRelatedToPropertySales1_lbl" xlink:title="label: MortgageLoanRelatedToPropertySales1 to us-gaap_MortgageLoanRelatedToPropertySales1_lbl" />
    <link:loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2012/elts/us-gaap-2012-01-31.xsd#us-gaap_MortgageLoansOnRealEstateMinimumInterestRateInRange" xlink:label="MortgageLoansOnRealEstateMinimumInterestRateInRange" xlink:title="MortgageLoansOnRealEstateMinimumInterestRateInRange" />
    <link:label xlink:type="resource" xlink:label="us-gaap_MortgageLoansOnRealEstateMinimumInterestRateInRange_lbl" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="us-gaap_MortgageLoansOnRealEstateMinimumInterestRateInRange_lbl" xml:lang="en-US" id="us-gaap_MortgageLoansOnRealEstateMinimumInterestRateInRange_lbl">Interest rates on mortgages payable range, minimum (in hundredths)</link:label>
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    <link:loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2012/elts/us-gaap-2012-01-31.xsd#us-gaap_MortgageLoansOnRealEstateCommercialAndConsumerNet" xlink:label="MortgageLoansOnRealEstateCommercialAndConsumerNet" xlink:title="MortgageLoansOnRealEstateCommercialAndConsumerNet" />
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    <link:label xlink:type="resource" xlink:label="us-gaap_NetCashProvidedByUsedInFinancingActivitiesAbstract_lbl" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="us-gaap_NetCashProvidedByUsedInFinancingActivitiesAbstract_lbl" xml:lang="en-US" id="us-gaap_NetCashProvidedByUsedInFinancingActivitiesAbstract_lbl">CASH FLOWS FROM FINANCING ACTIVITIES</link:label>
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    <link:label xlink:type="resource" xlink:label="us-gaap_NetIncomeLossAvailableToCommonStockholdersBasic_lbl" xlink:role="http://www.xbrl.org/2003/role/totalLabel" xlink:title="us-gaap_NetIncomeLossAvailableToCommonStockholdersBasic_lbl" xml:lang="en-US" id="us-gaap_NetIncomeLossAvailableToCommonStockholdersBasic_lbl">NET INCOME AVAILABLE TO COMMON SHAREHOLDERS</link:label>
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    <link:label xlink:type="resource" xlink:label="us-gaap_NetIncomeLossAvailableToCommonStockholdersBasic_lbl1" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="us-gaap_NetIncomeLossAvailableToCommonStockholdersBasic_lbl1" xml:lang="en-US" id="us-gaap_NetIncomeLossAvailableToCommonStockholdersBasic_lbl1">NET INCOME AVAILABLE TO COMMON SHAREHOLDERS</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="NetIncomeLossAvailableToCommonStockholdersBasic" xlink:to="us-gaap_NetIncomeLossAvailableToCommonStockholdersBasic_lbl1" xlink:title="label: NetIncomeLossAvailableToCommonStockholdersBasic to us-gaap_NetIncomeLossAvailableToCommonStockholdersBasic_lbl1" />
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    <link:loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2012/elts/us-gaap-2012-01-31.xsd#us-gaap_NetCashProvidedByUsedInInvestingActivities" xlink:label="NetCashProvidedByUsedInInvestingActivities" xlink:title="NetCashProvidedByUsedInInvestingActivities" />
    <link:label xlink:type="resource" xlink:label="us-gaap_NetCashProvidedByUsedInInvestingActivities_lbl" xlink:role="http://www.xbrl.org/2003/role/totalLabel" xlink:title="us-gaap_NetCashProvidedByUsedInInvestingActivities_lbl" xml:lang="en-US" id="us-gaap_NetCashProvidedByUsedInInvestingActivities_lbl">Net cash used by investing activities</link:label>
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    <link:label xlink:type="resource" xlink:label="us-gaap_NetCashProvidedByUsedInInvestingActivities_lbl1" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="us-gaap_NetCashProvidedByUsedInInvestingActivities_lbl1" xml:lang="en-US" id="us-gaap_NetCashProvidedByUsedInInvestingActivities_lbl1">Net Cash Provided by (Used in) Investing Activities</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="NetCashProvidedByUsedInInvestingActivities" xlink:to="us-gaap_NetCashProvidedByUsedInInvestingActivities_lbl1" xlink:title="label: NetCashProvidedByUsedInInvestingActivities to us-gaap_NetCashProvidedByUsedInInvestingActivities_lbl1" />
    <link:loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2012/elts/us-gaap-2012-01-31.xsd#us-gaap_NetIncomeLossAbstract" xlink:label="NetIncomeLossAbstract" xlink:title="NetIncomeLossAbstract" />
    <link:label xlink:type="resource" xlink:label="us-gaap_NetIncomeLossAbstract_lbl" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="us-gaap_NetIncomeLossAbstract_lbl" xml:lang="en-US" id="us-gaap_NetIncomeLossAbstract_lbl">NUMERATOR [Abstract]</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="NetIncomeLossAbstract" xlink:to="us-gaap_NetIncomeLossAbstract_lbl" xlink:title="label: NetIncomeLossAbstract to us-gaap_NetIncomeLossAbstract_lbl" />
    <link:loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2012/elts/us-gaap-2012-01-31.xsd#us-gaap_NetCashProvidedByUsedInFinancingActivities" xlink:label="NetCashProvidedByUsedInFinancingActivities" xlink:title="NetCashProvidedByUsedInFinancingActivities" />
    <link:label xlink:type="resource" xlink:label="us-gaap_NetCashProvidedByUsedInFinancingActivities_lbl" xlink:role="http://www.xbrl.org/2003/role/totalLabel" xlink:title="us-gaap_NetCashProvidedByUsedInFinancingActivities_lbl" xml:lang="en-US" id="us-gaap_NetCashProvidedByUsedInFinancingActivities_lbl">Net cash provided by financing activities</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="NetCashProvidedByUsedInFinancingActivities" xlink:to="us-gaap_NetCashProvidedByUsedInFinancingActivities_lbl" xlink:title="label: NetCashProvidedByUsedInFinancingActivities to us-gaap_NetCashProvidedByUsedInFinancingActivities_lbl" />
    <link:label xlink:type="resource" xlink:label="us-gaap_NetCashProvidedByUsedInFinancingActivities_lbl1" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="us-gaap_NetCashProvidedByUsedInFinancingActivities_lbl1" xml:lang="en-US" id="us-gaap_NetCashProvidedByUsedInFinancingActivities_lbl1">Net Cash Provided by (Used in) Financing Activities</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="NetCashProvidedByUsedInFinancingActivities" xlink:to="us-gaap_NetCashProvidedByUsedInFinancingActivities_lbl1" xlink:title="label: NetCashProvidedByUsedInFinancingActivities to us-gaap_NetCashProvidedByUsedInFinancingActivities_lbl1" />
    <link:loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2012/elts/us-gaap-2012-01-31.xsd#us-gaap_NetIncomeLossAvailableToCommonStockholdersDiluted" xlink:label="NetIncomeLossAvailableToCommonStockholdersDiluted" xlink:title="NetIncomeLossAvailableToCommonStockholdersDiluted" />
    <link:label xlink:type="resource" xlink:label="us-gaap_NetIncomeLossAvailableToCommonStockholdersDiluted_lbl" xlink:role="http://www.xbrl.org/2003/role/totalLabel" xlink:title="us-gaap_NetIncomeLossAvailableToCommonStockholdersDiluted_lbl" xml:lang="en-US" id="us-gaap_NetIncomeLossAvailableToCommonStockholdersDiluted_lbl">Numerator for diluted earnings per share</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="NetIncomeLossAvailableToCommonStockholdersDiluted" xlink:to="us-gaap_NetIncomeLossAvailableToCommonStockholdersDiluted_lbl" xlink:title="label: NetIncomeLossAvailableToCommonStockholdersDiluted to us-gaap_NetIncomeLossAvailableToCommonStockholdersDiluted_lbl" />
    <link:label xlink:type="resource" xlink:label="us-gaap_NetIncomeLossAvailableToCommonStockholdersDiluted_lbl1" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="us-gaap_NetIncomeLossAvailableToCommonStockholdersDiluted_lbl1" xml:lang="en-US" id="us-gaap_NetIncomeLossAvailableToCommonStockholdersDiluted_lbl1">Net Income (Loss) Available to Common Stockholders, Diluted</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="NetIncomeLossAvailableToCommonStockholdersDiluted" xlink:to="us-gaap_NetIncomeLossAvailableToCommonStockholdersDiluted_lbl1" xlink:title="label: NetIncomeLossAvailableToCommonStockholdersDiluted to us-gaap_NetIncomeLossAvailableToCommonStockholdersDiluted_lbl1" />
    <link:loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2012/elts/us-gaap-2012-01-31.xsd#us-gaap_NetCashProvidedByUsedInInvestingActivitiesAbstract" xlink:label="NetCashProvidedByUsedInInvestingActivitiesAbstract" xlink:title="NetCashProvidedByUsedInInvestingActivitiesAbstract" />
    <link:label xlink:type="resource" xlink:label="us-gaap_NetCashProvidedByUsedInInvestingActivitiesAbstract_lbl" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="us-gaap_NetCashProvidedByUsedInInvestingActivitiesAbstract_lbl" xml:lang="en-US" id="us-gaap_NetCashProvidedByUsedInInvestingActivitiesAbstract_lbl">CASH FLOWS FROM INVESTING ACTIVITIES</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="NetCashProvidedByUsedInInvestingActivitiesAbstract" xlink:to="us-gaap_NetCashProvidedByUsedInInvestingActivitiesAbstract_lbl" xlink:title="label: NetCashProvidedByUsedInInvestingActivitiesAbstract to us-gaap_NetCashProvidedByUsedInInvestingActivitiesAbstract_lbl" />
    <link:loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2012/elts/us-gaap-2012-01-31.xsd#us-gaap_NetCashProvidedByUsedInOperatingActivitiesAbstract" xlink:label="NetCashProvidedByUsedInOperatingActivitiesAbstract" xlink:title="NetCashProvidedByUsedInOperatingActivitiesAbstract" />
    <link:label xlink:type="resource" xlink:label="us-gaap_NetCashProvidedByUsedInOperatingActivitiesAbstract_lbl" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="us-gaap_NetCashProvidedByUsedInOperatingActivitiesAbstract_lbl" xml:lang="en-US" id="us-gaap_NetCashProvidedByUsedInOperatingActivitiesAbstract_lbl">CASH FLOWS FROM OPERATING ACTIVITIES</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="NetCashProvidedByUsedInOperatingActivitiesAbstract" xlink:to="us-gaap_NetCashProvidedByUsedInOperatingActivitiesAbstract_lbl" xlink:title="label: NetCashProvidedByUsedInOperatingActivitiesAbstract to us-gaap_NetCashProvidedByUsedInOperatingActivitiesAbstract_lbl" />
    <link:loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2012/elts/us-gaap-2012-01-31.xsd#us-gaap_NetIncomeLossAttributableToRedeemableNoncontrollingInterest" xlink:label="NetIncomeLossAttributableToRedeemableNoncontrollingInterest" xlink:title="NetIncomeLossAttributableToRedeemableNoncontrollingInterest" />
    <link:label xlink:type="resource" xlink:label="us-gaap_NetIncomeLossAttributableToRedeemableNoncontrollingInterest_lbl" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="us-gaap_NetIncomeLossAttributableToRedeemableNoncontrollingInterest_lbl" xml:lang="en-US" id="us-gaap_NetIncomeLossAttributableToRedeemableNoncontrollingInterest_lbl">Net income (loss)</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="NetIncomeLossAttributableToRedeemableNoncontrollingInterest" xlink:to="us-gaap_NetIncomeLossAttributableToRedeemableNoncontrollingInterest_lbl" xlink:title="label: NetIncomeLossAttributableToRedeemableNoncontrollingInterest to us-gaap_NetIncomeLossAttributableToRedeemableNoncontrollingInterest_lbl" />
    <link:loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2012/elts/us-gaap-2012-01-31.xsd#us-gaap_NetIncomeLoss" xlink:label="NetIncomeLoss" xlink:title="NetIncomeLoss" />
    <link:label xlink:type="resource" xlink:label="us-gaap_NetIncomeLoss_lbl" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="us-gaap_NetIncomeLoss_lbl" xml:lang="en-US" id="us-gaap_NetIncomeLoss_lbl">Net income attributable to Investors Real Estate Trust</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="NetIncomeLoss" xlink:to="us-gaap_NetIncomeLoss_lbl" xlink:title="label: NetIncomeLoss to us-gaap_NetIncomeLoss_lbl" />
    <link:loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2012/elts/us-gaap-2012-01-31.xsd#us-gaap_NetCashProvidedByUsedInOperatingActivities" xlink:label="NetCashProvidedByUsedInOperatingActivities" xlink:title="NetCashProvidedByUsedInOperatingActivities" />
    <link:label xlink:type="resource" xlink:label="us-gaap_NetCashProvidedByUsedInOperatingActivities_lbl" xlink:role="http://www.xbrl.org/2003/role/totalLabel" xlink:title="us-gaap_NetCashProvidedByUsedInOperatingActivities_lbl" xml:lang="en-US" id="us-gaap_NetCashProvidedByUsedInOperatingActivities_lbl">Net cash provided by operating activities</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="NetCashProvidedByUsedInOperatingActivities" xlink:to="us-gaap_NetCashProvidedByUsedInOperatingActivities_lbl" xlink:title="label: NetCashProvidedByUsedInOperatingActivities to us-gaap_NetCashProvidedByUsedInOperatingActivities_lbl" />
    <link:label xlink:type="resource" xlink:label="us-gaap_NetCashProvidedByUsedInOperatingActivities_lbl1" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="us-gaap_NetCashProvidedByUsedInOperatingActivities_lbl1" xml:lang="en-US" id="us-gaap_NetCashProvidedByUsedInOperatingActivities_lbl1">Net Cash Provided by (Used in) Operating Activities</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="NetCashProvidedByUsedInOperatingActivities" xlink:to="us-gaap_NetCashProvidedByUsedInOperatingActivities_lbl1" xlink:title="label: NetCashProvidedByUsedInOperatingActivities to us-gaap_NetCashProvidedByUsedInOperatingActivities_lbl1" />
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    <link:label xlink:type="resource" xlink:label="us-gaap_NetIncomeLossAttributableToNoncontrollingInterest_lbl" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="us-gaap_NetIncomeLossAttributableToNoncontrollingInterest_lbl" xml:lang="en-US" id="us-gaap_NetIncomeLossAttributableToNoncontrollingInterest_lbl">Net income attributable to noncontrolling interests - consolidated real estate entities</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="NetIncomeLossAttributableToNoncontrollingInterest" xlink:to="us-gaap_NetIncomeLossAttributableToNoncontrollingInterest_lbl" xlink:title="label: NetIncomeLossAttributableToNoncontrollingInterest to us-gaap_NetIncomeLossAttributableToNoncontrollingInterest_lbl" />
    <link:loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2012/elts/us-gaap-2012-01-31.xsd#us-gaap_NewAccountingPronouncementsPolicyPolicyTextBlock" xlink:label="NewAccountingPronouncementsPolicyPolicyTextBlock" xlink:title="NewAccountingPronouncementsPolicyPolicyTextBlock" />
    <link:label xlink:type="resource" xlink:label="us-gaap_NewAccountingPronouncementsPolicyPolicyTextBlock_lbl" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="us-gaap_NewAccountingPronouncementsPolicyPolicyTextBlock_lbl" xml:lang="en-US" id="us-gaap_NewAccountingPronouncementsPolicyPolicyTextBlock_lbl">RECENT ACCOUNTING PRONOUNCEMENTS</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="NewAccountingPronouncementsPolicyPolicyTextBlock" xlink:to="us-gaap_NewAccountingPronouncementsPolicyPolicyTextBlock_lbl" xlink:title="label: NewAccountingPronouncementsPolicyPolicyTextBlock to us-gaap_NewAccountingPronouncementsPolicyPolicyTextBlock_lbl" />
    <link:loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2012/elts/us-gaap-2012-01-31.xsd#us-gaap_NumberOfReportableSegments" xlink:label="NumberOfReportableSegments" xlink:title="NumberOfReportableSegments" />
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    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="NoncontrollingInterestMember" xlink:to="us-gaap_NoncontrollingInterestMember_lbl" xlink:title="label: NoncontrollingInterestMember to us-gaap_NoncontrollingInterestMember_lbl" />
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    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="OperatingIncomeLoss" xlink:to="us-gaap_OperatingIncomeLoss_lbl" xlink:title="label: OperatingIncomeLoss to us-gaap_OperatingIncomeLoss_lbl" />
    <link:loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2012/elts/us-gaap-2012-01-31.xsd#us-gaap_OperatingLeasesIncomeStatementLeaseRevenue" xlink:label="OperatingLeasesIncomeStatementLeaseRevenue" xlink:title="OperatingLeasesIncomeStatementLeaseRevenue" />
    <link:label xlink:type="resource" xlink:label="us-gaap_OperatingLeasesIncomeStatementLeaseRevenue_lbl" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="us-gaap_OperatingLeasesIncomeStatementLeaseRevenue_lbl" xml:lang="en-US" id="us-gaap_OperatingLeasesIncomeStatementLeaseRevenue_lbl">Real estate rentals</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="OperatingLeasesIncomeStatementLeaseRevenue" xlink:to="us-gaap_OperatingLeasesIncomeStatementLeaseRevenue_lbl" xlink:title="label: OperatingLeasesIncomeStatementLeaseRevenue to us-gaap_OperatingLeasesIncomeStatementLeaseRevenue_lbl" />
    <link:loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2012/elts/us-gaap-2012-01-31.xsd#us-gaap_OrganizationConsolidationAndPresentationOfFinancialStatementsAbstract" xlink:label="OrganizationConsolidationAndPresentationOfFinancialStatementsAbstract" xlink:title="OrganizationConsolidationAndPresentationOfFinancialStatementsAbstract" />
    <link:label xlink:type="resource" xlink:label="us-gaap_OrganizationConsolidationAndPresentationOfFinancialStatementsAbstract_lbl" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="us-gaap_OrganizationConsolidationAndPresentationOfFinancialStatementsAbstract_lbl" xml:lang="en-US" id="us-gaap_OrganizationConsolidationAndPresentationOfFinancialStatementsAbstract_lbl">ORGANIZATION [Abstract]</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="OrganizationConsolidationAndPresentationOfFinancialStatementsAbstract" xlink:to="us-gaap_OrganizationConsolidationAndPresentationOfFinancialStatementsAbstract_lbl" xlink:title="label: OrganizationConsolidationAndPresentationOfFinancialStatementsAbstract to us-gaap_OrganizationConsolidationAndPresentationOfFinancialStatementsAbstract_lbl" />
    <link:loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2012/elts/us-gaap-2012-01-31.xsd#us-gaap_OrganizationConsolidationAndPresentationOfFinancialStatementsDisclosureTextBlock" xlink:label="OrganizationConsolidationAndPresentationOfFinancialStatementsDisclosureTextBlock" xlink:title="OrganizationConsolidationAndPresentationOfFinancialStatementsDisclosureTextBlock" />
    <link:label xlink:type="resource" xlink:label="us-gaap_OrganizationConsolidationAndPresentationOfFinancialStatementsDisclosureTextBlock_lbl" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="us-gaap_OrganizationConsolidationAndPresentationOfFinancialStatementsDisclosureTextBlock_lbl" xml:lang="en-US" id="us-gaap_OrganizationConsolidationAndPresentationOfFinancialStatementsDisclosureTextBlock_lbl">ORGANIZATION</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="OrganizationConsolidationAndPresentationOfFinancialStatementsDisclosureTextBlock" xlink:to="us-gaap_OrganizationConsolidationAndPresentationOfFinancialStatementsDisclosureTextBlock_lbl" xlink:title="label: OrganizationConsolidationAndPresentationOfFinancialStatementsDisclosureTextBlock to us-gaap_OrganizationConsolidationAndPresentationOfFinancialStatementsDisclosureTextBlock_lbl" />
    <link:loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2012/elts/us-gaap-2012-01-31.xsd#us-gaap_OtherAssets" xlink:label="OtherAssets" xlink:title="OtherAssets" />
    <link:label xlink:type="resource" xlink:label="us-gaap_OtherAssets_lbl" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="us-gaap_OtherAssets_lbl" xml:lang="en-US" id="us-gaap_OtherAssets_lbl">Tax, insurance, and other escrow</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="OtherAssets" xlink:to="us-gaap_OtherAssets_lbl" xlink:title="label: OtherAssets to us-gaap_OtherAssets_lbl" />
    <link:loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2012/elts/us-gaap-2012-01-31.xsd#us-gaap_OtherIntangibleAssetsMember" xlink:label="OtherIntangibleAssetsMember" xlink:title="OtherIntangibleAssetsMember" />
    <link:label xlink:type="resource" xlink:label="us-gaap_OtherIntangibleAssetsMember_lbl" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="us-gaap_OtherIntangibleAssetsMember_lbl" xml:lang="en-US" id="us-gaap_OtherIntangibleAssetsMember_lbl">Other identified intangible assets [Member]</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="OtherIntangibleAssetsMember" xlink:to="us-gaap_OtherIntangibleAssetsMember_lbl" xlink:title="label: OtherIntangibleAssetsMember to us-gaap_OtherIntangibleAssetsMember_lbl" />
    <link:loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2012/elts/us-gaap-2012-01-31.xsd#us-gaap_OtherGeneralExpense" xlink:label="OtherGeneralExpense" xlink:title="OtherGeneralExpense" />
    <link:label xlink:type="resource" xlink:label="us-gaap_OtherGeneralExpense_lbl" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="us-gaap_OtherGeneralExpense_lbl" xml:lang="en-US" id="us-gaap_OtherGeneralExpense_lbl">Other expenses</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="OtherGeneralExpense" xlink:to="us-gaap_OtherGeneralExpense_lbl" xlink:title="label: OtherGeneralExpense to us-gaap_OtherGeneralExpense_lbl" />
    <link:label xlink:type="resource" xlink:label="us-gaap_OtherGeneralExpense_lbl1" xlink:role="http://www.xbrl.org/2009/role/negatedLabel" xlink:title="us-gaap_OtherGeneralExpense_lbl1" xml:lang="en-US" id="us-gaap_OtherGeneralExpense_lbl1">Other expenses</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="OtherGeneralExpense" xlink:to="us-gaap_OtherGeneralExpense_lbl1" xlink:title="label: OtherGeneralExpense to us-gaap_OtherGeneralExpense_lbl1" />
    <link:loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2012/elts/us-gaap-2012-01-31.xsd#us-gaap_OtherLongTermInvestments" xlink:label="OtherLongTermInvestments" xlink:title="OtherLongTermInvestments" />
    <link:label xlink:type="resource" xlink:label="us-gaap_OtherLongTermInvestments_lbl" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="us-gaap_OtherLongTermInvestments_lbl" xml:lang="en-US" id="us-gaap_OtherLongTermInvestments_lbl">Other investments</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="OtherLongTermInvestments" xlink:to="us-gaap_OtherLongTermInvestments_lbl" xlink:title="label: OtherLongTermInvestments to us-gaap_OtherLongTermInvestments_lbl" />
    <link:loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2012/elts/us-gaap-2012-01-31.xsd#us-gaap_OtherNonoperatingIncomeExpense" xlink:label="OtherNonoperatingIncomeExpense" xlink:title="OtherNonoperatingIncomeExpense" />
    <link:label xlink:type="resource" xlink:label="us-gaap_OtherNonoperatingIncomeExpense_lbl" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="us-gaap_OtherNonoperatingIncomeExpense_lbl" xml:lang="en-US" id="us-gaap_OtherNonoperatingIncomeExpense_lbl">Other income</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="OtherNonoperatingIncomeExpense" xlink:to="us-gaap_OtherNonoperatingIncomeExpense_lbl" xlink:title="label: OtherNonoperatingIncomeExpense to us-gaap_OtherNonoperatingIncomeExpense_lbl" />
    <link:loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2012/elts/us-gaap-2012-01-31.xsd#us-gaap_OtherLiabilities" xlink:label="OtherLiabilities" xlink:title="OtherLiabilities" />
    <link:label xlink:type="resource" xlink:label="us-gaap_OtherLiabilities_lbl" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="us-gaap_OtherLiabilities_lbl" xml:lang="en-US" id="us-gaap_OtherLiabilities_lbl">Other</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="OtherLiabilities" xlink:to="us-gaap_OtherLiabilities_lbl" xlink:title="label: OtherLiabilities to us-gaap_OtherLiabilities_lbl" />
    <link:loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2012/elts/us-gaap-2012-01-31.xsd#us-gaap_OwnedPropertyManagementCosts" xlink:label="OwnedPropertyManagementCosts" xlink:title="OwnedPropertyManagementCosts" />
    <link:label xlink:type="resource" xlink:label="us-gaap_OwnedPropertyManagementCosts_lbl" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="us-gaap_OwnedPropertyManagementCosts_lbl" xml:lang="en-US" id="us-gaap_OwnedPropertyManagementCosts_lbl">Property management expenses</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="OwnedPropertyManagementCosts" xlink:to="us-gaap_OwnedPropertyManagementCosts_lbl" xlink:title="label: OwnedPropertyManagementCosts to us-gaap_OwnedPropertyManagementCosts_lbl" />
    <link:loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2012/elts/us-gaap-2012-01-31.xsd#us-gaap_PartnersCapitalAccountRedemptions" xlink:label="PartnersCapitalAccountRedemptions" xlink:title="PartnersCapitalAccountRedemptions" />
    <link:label xlink:type="resource" xlink:label="us-gaap_PartnersCapitalAccountRedemptions_lbl" xlink:role="http://www.xbrl.org/2009/role/negatedLabel" xlink:title="us-gaap_PartnersCapitalAccountRedemptions_lbl" xml:lang="en-US" id="us-gaap_PartnersCapitalAccountRedemptions_lbl">Redemption of units for common shares</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="PartnersCapitalAccountRedemptions" xlink:to="us-gaap_PartnersCapitalAccountRedemptions_lbl" xlink:title="label: PartnersCapitalAccountRedemptions to us-gaap_PartnersCapitalAccountRedemptions_lbl" />
    <link:label xlink:type="resource" xlink:label="us-gaap_PartnersCapitalAccountRedemptions_lbl1" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="us-gaap_PartnersCapitalAccountRedemptions_lbl1" xml:lang="en-US" id="us-gaap_PartnersCapitalAccountRedemptions_lbl1">Partners' Capital Account, Redemptions</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="PartnersCapitalAccountRedemptions" xlink:to="us-gaap_PartnersCapitalAccountRedemptions_lbl1" xlink:title="label: PartnersCapitalAccountRedemptions to us-gaap_PartnersCapitalAccountRedemptions_lbl1" />
    <link:loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2012/elts/us-gaap-2012-01-31.xsd#us-gaap_PartnersCapitalAccountUnitsRedeemed" xlink:label="PartnersCapitalAccountUnitsRedeemed" xlink:title="PartnersCapitalAccountUnitsRedeemed" />
    <link:label xlink:type="resource" xlink:label="us-gaap_PartnersCapitalAccountUnitsRedeemed_lbl" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="us-gaap_PartnersCapitalAccountUnitsRedeemed_lbl" xml:lang="en-US" id="us-gaap_PartnersCapitalAccountUnitsRedeemed_lbl">Redemption of units for common shares, shares (in shares)</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="PartnersCapitalAccountUnitsRedeemed" xlink:to="us-gaap_PartnersCapitalAccountUnitsRedeemed_lbl" xlink:title="label: PartnersCapitalAccountUnitsRedeemed to us-gaap_PartnersCapitalAccountUnitsRedeemed_lbl" />
    <link:loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2012/elts/us-gaap-2012-01-31.xsd#us-gaap_PaymentsForProceedsFromOtherInvestingActivities" xlink:label="PaymentsForProceedsFromOtherInvestingActivities" xlink:title="PaymentsForProceedsFromOtherInvestingActivities" />
    <link:label xlink:type="resource" xlink:label="us-gaap_PaymentsForProceedsFromOtherInvestingActivities_lbl" xlink:role="http://www.xbrl.org/2009/role/negatedLabel" xlink:title="us-gaap_PaymentsForProceedsFromOtherInvestingActivities_lbl" xml:lang="en-US" id="us-gaap_PaymentsForProceedsFromOtherInvestingActivities_lbl">Increase in other investments</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="PaymentsForProceedsFromOtherInvestingActivities" xlink:to="us-gaap_PaymentsForProceedsFromOtherInvestingActivities_lbl" xlink:title="label: PaymentsForProceedsFromOtherInvestingActivities to us-gaap_PaymentsForProceedsFromOtherInvestingActivities_lbl" />
    <link:label xlink:type="resource" xlink:label="us-gaap_PaymentsForProceedsFromOtherInvestingActivities_lbl1" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="us-gaap_PaymentsForProceedsFromOtherInvestingActivities_lbl1" xml:lang="en-US" id="us-gaap_PaymentsForProceedsFromOtherInvestingActivities_lbl1">Payments for (Proceeds from) Other Investing Activities</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="PaymentsForProceedsFromOtherInvestingActivities" xlink:to="us-gaap_PaymentsForProceedsFromOtherInvestingActivities_lbl1" xlink:title="label: PaymentsForProceedsFromOtherInvestingActivities to us-gaap_PaymentsForProceedsFromOtherInvestingActivities_lbl1" />
    <link:loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2012/elts/us-gaap-2012-01-31.xsd#us-gaap_PaymentsOfDistributionsToAffiliates" xlink:label="PaymentsOfDistributionsToAffiliates" xlink:title="PaymentsOfDistributionsToAffiliates" />
    <link:label xlink:type="resource" xlink:label="us-gaap_PaymentsOfDistributionsToAffiliates_lbl" xlink:role="http://www.xbrl.org/2009/role/negatedLabel" xlink:title="us-gaap_PaymentsOfDistributionsToAffiliates_lbl" xml:lang="en-US" id="us-gaap_PaymentsOfDistributionsToAffiliates_lbl">Distributions paid to noncontrolling interests - Unitholders of the Operating Partnership, net of reinvestment of $465 and $504, respectively</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="PaymentsOfDistributionsToAffiliates" xlink:to="us-gaap_PaymentsOfDistributionsToAffiliates_lbl" xlink:title="label: PaymentsOfDistributionsToAffiliates to us-gaap_PaymentsOfDistributionsToAffiliates_lbl" />
    <link:label xlink:type="resource" xlink:label="us-gaap_PaymentsOfDistributionsToAffiliates_lbl1" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="us-gaap_PaymentsOfDistributionsToAffiliates_lbl1" xml:lang="en-US" id="us-gaap_PaymentsOfDistributionsToAffiliates_lbl1">Payments of Distributions to Affiliates</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="PaymentsOfDistributionsToAffiliates" xlink:to="us-gaap_PaymentsOfDistributionsToAffiliates_lbl1" xlink:title="label: PaymentsOfDistributionsToAffiliates to us-gaap_PaymentsOfDistributionsToAffiliates_lbl1" />
    <link:loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2012/elts/us-gaap-2012-01-31.xsd#us-gaap_PaymentsForRepurchaseOfCommonStock" xlink:label="PaymentsForRepurchaseOfCommonStock" xlink:title="PaymentsForRepurchaseOfCommonStock" />
    <link:label xlink:type="resource" xlink:label="us-gaap_PaymentsForRepurchaseOfCommonStock_lbl" xlink:role="http://www.xbrl.org/2009/role/negatedLabel" xlink:title="us-gaap_PaymentsForRepurchaseOfCommonStock_lbl" xml:lang="en-US" id="us-gaap_PaymentsForRepurchaseOfCommonStock_lbl">Repurchase of fractional shares and partnership units</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="PaymentsForRepurchaseOfCommonStock" xlink:to="us-gaap_PaymentsForRepurchaseOfCommonStock_lbl" xlink:title="label: PaymentsForRepurchaseOfCommonStock to us-gaap_PaymentsForRepurchaseOfCommonStock_lbl" />
    <link:label xlink:type="resource" xlink:label="us-gaap_PaymentsForRepurchaseOfCommonStock_lbl1" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="us-gaap_PaymentsForRepurchaseOfCommonStock_lbl1" xml:lang="en-US" id="us-gaap_PaymentsForRepurchaseOfCommonStock_lbl1">Payments for Repurchase of Common Stock</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="PaymentsForRepurchaseOfCommonStock" xlink:to="us-gaap_PaymentsForRepurchaseOfCommonStock_lbl1" xlink:title="label: PaymentsForRepurchaseOfCommonStock to us-gaap_PaymentsForRepurchaseOfCommonStock_lbl1" />
    <link:loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2012/elts/us-gaap-2012-01-31.xsd#us-gaap_PaymentsToAcquireAndDevelopRealEstate" xlink:label="PaymentsToAcquireAndDevelopRealEstate" xlink:title="PaymentsToAcquireAndDevelopRealEstate" />
    <link:label xlink:type="resource" xlink:label="us-gaap_PaymentsToAcquireAndDevelopRealEstate_lbl" xlink:role="http://www.xbrl.org/2009/role/negatedLabel" xlink:title="us-gaap_PaymentsToAcquireAndDevelopRealEstate_lbl" xml:lang="en-US" id="us-gaap_PaymentsToAcquireAndDevelopRealEstate_lbl">Payments for acquisitions and improvements of real estate assets</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="PaymentsToAcquireAndDevelopRealEstate" xlink:to="us-gaap_PaymentsToAcquireAndDevelopRealEstate_lbl" xlink:title="label: PaymentsToAcquireAndDevelopRealEstate to us-gaap_PaymentsToAcquireAndDevelopRealEstate_lbl" />
    <link:label xlink:type="resource" xlink:label="us-gaap_PaymentsToAcquireAndDevelopRealEstate_lbl1" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="us-gaap_PaymentsToAcquireAndDevelopRealEstate_lbl1" xml:lang="en-US" id="us-gaap_PaymentsToAcquireAndDevelopRealEstate_lbl1">Payments to Acquire and Develop Real Estate</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="PaymentsToAcquireAndDevelopRealEstate" xlink:to="us-gaap_PaymentsToAcquireAndDevelopRealEstate_lbl1" xlink:title="label: PaymentsToAcquireAndDevelopRealEstate to us-gaap_PaymentsToAcquireAndDevelopRealEstate_lbl1" />
    <link:loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2012/elts/us-gaap-2012-01-31.xsd#us-gaap_PaymentsOfDividendsPreferredStockAndPreferenceStock" xlink:label="PaymentsOfDividendsPreferredStockAndPreferenceStock" xlink:title="PaymentsOfDividendsPreferredStockAndPreferenceStock" />
    <link:label xlink:type="resource" xlink:label="us-gaap_PaymentsOfDividendsPreferredStockAndPreferenceStock_lbl" xlink:role="http://www.xbrl.org/2009/role/negatedLabel" xlink:title="us-gaap_PaymentsOfDividendsPreferredStockAndPreferenceStock_lbl" xml:lang="en-US" id="us-gaap_PaymentsOfDividendsPreferredStockAndPreferenceStock_lbl">Distributions paid to preferred shareholders</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="PaymentsOfDividendsPreferredStockAndPreferenceStock" xlink:to="us-gaap_PaymentsOfDividendsPreferredStockAndPreferenceStock_lbl" xlink:title="label: PaymentsOfDividendsPreferredStockAndPreferenceStock to us-gaap_PaymentsOfDividendsPreferredStockAndPreferenceStock_lbl" />
    <link:label xlink:type="resource" xlink:label="us-gaap_PaymentsOfDividendsPreferredStockAndPreferenceStock_lbl1" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="us-gaap_PaymentsOfDividendsPreferredStockAndPreferenceStock_lbl1" xml:lang="en-US" id="us-gaap_PaymentsOfDividendsPreferredStockAndPreferenceStock_lbl1">Payments of Ordinary Dividends, Preferred Stock and Preference Stock</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="PaymentsOfDividendsPreferredStockAndPreferenceStock" xlink:to="us-gaap_PaymentsOfDividendsPreferredStockAndPreferenceStock_lbl1" xlink:title="label: PaymentsOfDividendsPreferredStockAndPreferenceStock to us-gaap_PaymentsOfDividendsPreferredStockAndPreferenceStock_lbl1" />
    <link:loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2012/elts/us-gaap-2012-01-31.xsd#us-gaap_PaymentsOfDividendsMinorityInterest" xlink:label="PaymentsOfDividendsMinorityInterest" xlink:title="PaymentsOfDividendsMinorityInterest" />
    <link:label xlink:type="resource" xlink:label="us-gaap_PaymentsOfDividendsMinorityInterest_lbl" xlink:role="http://www.xbrl.org/2009/role/negatedLabel" xlink:title="us-gaap_PaymentsOfDividendsMinorityInterest_lbl" xml:lang="en-US" id="us-gaap_PaymentsOfDividendsMinorityInterest_lbl">Distributions paid to noncontrolling interests - consolidated real estate entities</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="PaymentsOfDividendsMinorityInterest" xlink:to="us-gaap_PaymentsOfDividendsMinorityInterest_lbl" xlink:title="label: PaymentsOfDividendsMinorityInterest to us-gaap_PaymentsOfDividendsMinorityInterest_lbl" />
    <link:label xlink:type="resource" xlink:label="us-gaap_PaymentsOfDividendsMinorityInterest_lbl1" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="us-gaap_PaymentsOfDividendsMinorityInterest_lbl1" xml:lang="en-US" id="us-gaap_PaymentsOfDividendsMinorityInterest_lbl1">Payments of Ordinary Dividends, Noncontrolling Interest</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="PaymentsOfDividendsMinorityInterest" xlink:to="us-gaap_PaymentsOfDividendsMinorityInterest_lbl1" xlink:title="label: PaymentsOfDividendsMinorityInterest to us-gaap_PaymentsOfDividendsMinorityInterest_lbl1" />
    <link:loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2012/elts/us-gaap-2012-01-31.xsd#us-gaap_PaymentsOfDividendsCommonStock" xlink:label="PaymentsOfDividendsCommonStock" xlink:title="PaymentsOfDividendsCommonStock" />
    <link:label xlink:type="resource" xlink:label="us-gaap_PaymentsOfDividendsCommonStock_lbl" xlink:role="http://www.xbrl.org/2009/role/negatedLabel" xlink:title="us-gaap_PaymentsOfDividendsCommonStock_lbl" xml:lang="en-US" id="us-gaap_PaymentsOfDividendsCommonStock_lbl">Distributions paid to common shareholders, net of reinvestment of $9,307 and $7,548, respectively</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="PaymentsOfDividendsCommonStock" xlink:to="us-gaap_PaymentsOfDividendsCommonStock_lbl" xlink:title="label: PaymentsOfDividendsCommonStock to us-gaap_PaymentsOfDividendsCommonStock_lbl" />
    <link:label xlink:type="resource" xlink:label="us-gaap_PaymentsOfDividendsCommonStock_lbl1" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="us-gaap_PaymentsOfDividendsCommonStock_lbl1" xml:lang="en-US" id="us-gaap_PaymentsOfDividendsCommonStock_lbl1">Payments of Ordinary Dividends, Common Stock</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="PaymentsOfDividendsCommonStock" xlink:to="us-gaap_PaymentsOfDividendsCommonStock_lbl1" xlink:title="label: PaymentsOfDividendsCommonStock to us-gaap_PaymentsOfDividendsCommonStock_lbl1" />
    <link:loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2012/elts/us-gaap-2012-01-31.xsd#us-gaap_PaymentsToAcquireAdditionalInterestInSubsidiaries" xlink:label="PaymentsToAcquireAdditionalInterestInSubsidiaries" xlink:title="PaymentsToAcquireAdditionalInterestInSubsidiaries" />
    <link:label xlink:type="resource" xlink:label="us-gaap_PaymentsToAcquireAdditionalInterestInSubsidiaries_lbl" xlink:role="http://www.xbrl.org/2009/role/negatedLabel" xlink:title="us-gaap_PaymentsToAcquireAdditionalInterestInSubsidiaries_lbl" xml:lang="en-US" id="us-gaap_PaymentsToAcquireAdditionalInterestInSubsidiaries_lbl">Payments for acquisition of noncontrolling interests - consolidated real estate entities</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="PaymentsToAcquireAdditionalInterestInSubsidiaries" xlink:to="us-gaap_PaymentsToAcquireAdditionalInterestInSubsidiaries_lbl" xlink:title="label: PaymentsToAcquireAdditionalInterestInSubsidiaries to us-gaap_PaymentsToAcquireAdditionalInterestInSubsidiaries_lbl" />
    <link:label xlink:type="resource" xlink:label="us-gaap_PaymentsToAcquireAdditionalInterestInSubsidiaries_lbl1" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="us-gaap_PaymentsToAcquireAdditionalInterestInSubsidiaries_lbl1" xml:lang="en-US" id="us-gaap_PaymentsToAcquireAdditionalInterestInSubsidiaries_lbl1">Payments to Acquire Additional Interest in Subsidiaries</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="PaymentsToAcquireAdditionalInterestInSubsidiaries" xlink:to="us-gaap_PaymentsToAcquireAdditionalInterestInSubsidiaries_lbl1" xlink:title="label: PaymentsToAcquireAdditionalInterestInSubsidiaries to us-gaap_PaymentsToAcquireAdditionalInterestInSubsidiaries_lbl1" />
    <link:loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2012/elts/us-gaap-2012-01-31.xsd#us-gaap_PreferredStockValue" xlink:label="PreferredStockValue" xlink:title="PreferredStockValue" />
    <link:label xlink:type="resource" xlink:label="us-gaap_PreferredStockValue_lbl" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:title="us-gaap_PreferredStockValue_lbl" xml:lang="en-US" id="us-gaap_PreferredStockValue_lbl">Series A Preferred Shares of Beneficial Interest (Cumulative redeemable preferred shares, no par value, 1,150,000 shares issued and outstanding at January 31, 2013 and April 30, 2012, aggregate liquidation preference of $28,750,000) Series B Preferred Shares of Beneficial Interest (Cumulative redeemable preferred shares, no par value, 4,600,000 and 0 shares issued and outstanding at January 31, 2013 and April 30, 2012, respectively, aggregate liquidation preference of $115,000,000)</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="PreferredStockValue" xlink:to="us-gaap_PreferredStockValue_lbl" xlink:title="label: PreferredStockValue to us-gaap_PreferredStockValue_lbl" />
    <link:label xlink:type="resource" xlink:label="us-gaap_PreferredStockValue_lbl1" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="us-gaap_PreferredStockValue_lbl1" xml:lang="en-US" id="us-gaap_PreferredStockValue_lbl1">Preferred Stock, Value, Issued</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="PreferredStockValue" xlink:to="us-gaap_PreferredStockValue_lbl1" xlink:title="label: PreferredStockValue to us-gaap_PreferredStockValue_lbl1" />
    <link:loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2012/elts/us-gaap-2012-01-31.xsd#us-gaap_PreferredStockDividendsPerShareDeclared" xlink:label="PreferredStockDividendsPerShareDeclared" xlink:title="PreferredStockDividendsPerShareDeclared" />
    <link:label xlink:type="resource" xlink:label="us-gaap_PreferredStockDividendsPerShareDeclared_lbl" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:title="us-gaap_PreferredStockDividendsPerShareDeclared_lbl" xml:lang="en-US" id="us-gaap_PreferredStockDividendsPerShareDeclared_lbl">Preferred stock, dividends per share, declared (in dollars per share)</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="PreferredStockDividendsPerShareDeclared" xlink:to="us-gaap_PreferredStockDividendsPerShareDeclared_lbl" xlink:title="label: PreferredStockDividendsPerShareDeclared to us-gaap_PreferredStockDividendsPerShareDeclared_lbl" />
    <link:label xlink:type="resource" xlink:label="us-gaap_PreferredStockDividendsPerShareDeclared_lbl1" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="us-gaap_PreferredStockDividendsPerShareDeclared_lbl1" xml:lang="en-US" id="us-gaap_PreferredStockDividendsPerShareDeclared_lbl1">Preferred Stock, Dividends Per Share, Declared</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="PreferredStockDividendsPerShareDeclared" xlink:to="us-gaap_PreferredStockDividendsPerShareDeclared_lbl1" xlink:title="label: PreferredStockDividendsPerShareDeclared to us-gaap_PreferredStockDividendsPerShareDeclared_lbl1" />
    <link:loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2012/elts/us-gaap-2012-01-31.xsd#us-gaap_PreferredStockDividendsPerShareCashPaid" xlink:label="PreferredStockDividendsPerShareCashPaid" xlink:title="PreferredStockDividendsPerShareCashPaid" />
    <link:label xlink:type="resource" xlink:label="us-gaap_PreferredStockDividendsPerShareCashPaid_lbl" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="us-gaap_PreferredStockDividendsPerShareCashPaid_lbl" xml:lang="en-US" id="us-gaap_PreferredStockDividendsPerShareCashPaid_lbl">Preferred stock, dividends per share, distribution (in dollars per share)</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="PreferredStockDividendsPerShareCashPaid" xlink:to="us-gaap_PreferredStockDividendsPerShareCashPaid_lbl" xlink:title="label: PreferredStockDividendsPerShareCashPaid to us-gaap_PreferredStockDividendsPerShareCashPaid_lbl" />
    <link:loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2012/elts/us-gaap-2012-01-31.xsd#us-gaap_PreferredClassAMember" xlink:label="PreferredClassAMember" xlink:title="PreferredClassAMember" />
    <link:label xlink:type="resource" xlink:label="us-gaap_PreferredClassAMember_lbl" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="us-gaap_PreferredClassAMember_lbl" xml:lang="en-US" id="us-gaap_PreferredClassAMember_lbl">Preferred Class A [Member]</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="PreferredClassAMember" xlink:to="us-gaap_PreferredClassAMember_lbl" xlink:title="label: PreferredClassAMember to us-gaap_PreferredClassAMember_lbl" />
    <link:loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2012/elts/us-gaap-2012-01-31.xsd#us-gaap_PreferredClassBMember" xlink:label="PreferredClassBMember" xlink:title="PreferredClassBMember" />
    <link:label xlink:type="resource" xlink:label="us-gaap_PreferredClassBMember_lbl" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="us-gaap_PreferredClassBMember_lbl" xml:lang="en-US" id="us-gaap_PreferredClassBMember_lbl">Preferred Class B [Member]</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="PreferredClassBMember" xlink:to="us-gaap_PreferredClassBMember_lbl" xlink:title="label: PreferredClassBMember to us-gaap_PreferredClassBMember_lbl" />
    <link:loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2012/elts/us-gaap-2012-01-31.xsd#us-gaap_PreferredStockSharesIssued" xlink:label="PreferredStockSharesIssued" xlink:title="PreferredStockSharesIssued" />
    <link:label xlink:type="resource" xlink:label="us-gaap_PreferredStockSharesIssued_lbl" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="us-gaap_PreferredStockSharesIssued_lbl" xml:lang="en-US" id="us-gaap_PreferredStockSharesIssued_lbl">Preferred Shares of Beneficial Interest, shares issued (in shares)</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="PreferredStockSharesIssued" xlink:to="us-gaap_PreferredStockSharesIssued_lbl" xlink:title="label: PreferredStockSharesIssued to us-gaap_PreferredStockSharesIssued_lbl" />
    <link:loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2012/elts/us-gaap-2012-01-31.xsd#us-gaap_PreferredStockParOrStatedValuePerShare" xlink:label="PreferredStockParOrStatedValuePerShare" xlink:title="PreferredStockParOrStatedValuePerShare" />
    <link:label xlink:type="resource" xlink:label="us-gaap_PreferredStockParOrStatedValuePerShare_lbl" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="us-gaap_PreferredStockParOrStatedValuePerShare_lbl" xml:lang="en-US" id="us-gaap_PreferredStockParOrStatedValuePerShare_lbl">Preferred Shares of Beneficial Interest, no par value (in dollars per share)</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="PreferredStockParOrStatedValuePerShare" xlink:to="us-gaap_PreferredStockParOrStatedValuePerShare_lbl" xlink:title="label: PreferredStockParOrStatedValuePerShare to us-gaap_PreferredStockParOrStatedValuePerShare_lbl" />
    <link:loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2012/elts/us-gaap-2012-01-31.xsd#us-gaap_PreferredStockLiquidationPreferenceValue" xlink:label="PreferredStockLiquidationPreferenceValue" xlink:title="PreferredStockLiquidationPreferenceValue" />
    <link:label xlink:type="resource" xlink:label="us-gaap_PreferredStockLiquidationPreferenceValue_lbl" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:title="us-gaap_PreferredStockLiquidationPreferenceValue_lbl" xml:lang="en-US" id="us-gaap_PreferredStockLiquidationPreferenceValue_lbl">Amount of liquidation preference</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="PreferredStockLiquidationPreferenceValue" xlink:to="us-gaap_PreferredStockLiquidationPreferenceValue_lbl" xlink:title="label: PreferredStockLiquidationPreferenceValue to us-gaap_PreferredStockLiquidationPreferenceValue_lbl" />
    <link:label xlink:type="resource" xlink:label="us-gaap_PreferredStockLiquidationPreferenceValue_lbl1" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="us-gaap_PreferredStockLiquidationPreferenceValue_lbl1" xml:lang="en-US" id="us-gaap_PreferredStockLiquidationPreferenceValue_lbl1">Preferred Stock, Liquidation Preference, Value</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="PreferredStockLiquidationPreferenceValue" xlink:to="us-gaap_PreferredStockLiquidationPreferenceValue_lbl1" xlink:title="label: PreferredStockLiquidationPreferenceValue to us-gaap_PreferredStockLiquidationPreferenceValue_lbl1" />
    <link:loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2012/elts/us-gaap-2012-01-31.xsd#us-gaap_PreferredStockLiquidationPreference" xlink:label="PreferredStockLiquidationPreference" xlink:title="PreferredStockLiquidationPreference" />
    <link:label xlink:type="resource" xlink:label="us-gaap_PreferredStockLiquidationPreference_lbl" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:title="us-gaap_PreferredStockLiquidationPreference_lbl" xml:lang="en-US" id="us-gaap_PreferredStockLiquidationPreference_lbl">Liquidation preference (in dollars per share)</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="PreferredStockLiquidationPreference" xlink:to="us-gaap_PreferredStockLiquidationPreference_lbl" xlink:title="label: PreferredStockLiquidationPreference to us-gaap_PreferredStockLiquidationPreference_lbl" />
    <link:label xlink:type="resource" xlink:label="us-gaap_PreferredStockLiquidationPreference_lbl1" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="us-gaap_PreferredStockLiquidationPreference_lbl1" xml:lang="en-US" id="us-gaap_PreferredStockLiquidationPreference_lbl1">Preferred Stock, Liquidation Preference Per Share</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="PreferredStockLiquidationPreference" xlink:to="us-gaap_PreferredStockLiquidationPreference_lbl1" xlink:title="label: PreferredStockLiquidationPreference to us-gaap_PreferredStockLiquidationPreference_lbl1" />
    <link:loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2012/elts/us-gaap-2012-01-31.xsd#us-gaap_PreferredStockSharesOutstanding" xlink:label="PreferredStockSharesOutstanding" xlink:title="PreferredStockSharesOutstanding" />
    <link:label xlink:type="resource" xlink:label="us-gaap_PreferredStockSharesOutstanding_lbl" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="us-gaap_PreferredStockSharesOutstanding_lbl" xml:lang="en-US" id="us-gaap_PreferredStockSharesOutstanding_lbl">Preferred Shares of Beneficial Interest, shares outstanding (in shares)</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="PreferredStockSharesOutstanding" xlink:to="us-gaap_PreferredStockSharesOutstanding_lbl" xlink:title="label: PreferredStockSharesOutstanding to us-gaap_PreferredStockSharesOutstanding_lbl" />
    <link:loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2012/elts/us-gaap-2012-01-31.xsd#us-gaap_PreferredStockMember" xlink:label="PreferredStockMember" xlink:title="PreferredStockMember" />
    <link:label xlink:type="resource" xlink:label="us-gaap_PreferredStockMember_lbl" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="us-gaap_PreferredStockMember_lbl" xml:lang="en-US" id="us-gaap_PreferredStockMember_lbl">PREFERRED SHARES [Member]</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="PreferredStockMember" xlink:to="us-gaap_PreferredStockMember_lbl" xlink:title="label: PreferredStockMember to us-gaap_PreferredStockMember_lbl" />
    <link:loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2012/elts/us-gaap-2012-01-31.xsd#us-gaap_PrepaidExpenseAndOtherAssets" xlink:label="PrepaidExpenseAndOtherAssets" xlink:title="PrepaidExpenseAndOtherAssets" />
    <link:label xlink:type="resource" xlink:label="us-gaap_PrepaidExpenseAndOtherAssets_lbl" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="us-gaap_PrepaidExpenseAndOtherAssets_lbl" xml:lang="en-US" id="us-gaap_PrepaidExpenseAndOtherAssets_lbl">Prepaid and other assets</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="PrepaidExpenseAndOtherAssets" xlink:to="us-gaap_PrepaidExpenseAndOtherAssets_lbl" xlink:title="label: PrepaidExpenseAndOtherAssets to us-gaap_PrepaidExpenseAndOtherAssets_lbl" />
    <link:loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2012/elts/us-gaap-2012-01-31.xsd#us-gaap_PriorPeriodReclassificationAdjustmentDescription" xlink:label="PriorPeriodReclassificationAdjustmentDescription" xlink:title="PriorPeriodReclassificationAdjustmentDescription" />
    <link:label xlink:type="resource" xlink:label="us-gaap_PriorPeriodReclassificationAdjustmentDescription_lbl" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="us-gaap_PriorPeriodReclassificationAdjustmentDescription_lbl" xml:lang="en-US" id="us-gaap_PriorPeriodReclassificationAdjustmentDescription_lbl">RECLASSIFICATIONS</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="PriorPeriodReclassificationAdjustmentDescription" xlink:to="us-gaap_PriorPeriodReclassificationAdjustmentDescription_lbl" xlink:title="label: PriorPeriodReclassificationAdjustmentDescription to us-gaap_PriorPeriodReclassificationAdjustmentDescription_lbl" />
    <link:loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2012/elts/us-gaap-2012-01-31.xsd#us-gaap_ProceedsFromContributionsFromAffiliates" xlink:label="ProceedsFromContributionsFromAffiliates" xlink:title="ProceedsFromContributionsFromAffiliates" />
    <link:label xlink:type="resource" xlink:label="us-gaap_ProceedsFromContributionsFromAffiliates_lbl" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="us-gaap_ProceedsFromContributionsFromAffiliates_lbl" xml:lang="en-US" id="us-gaap_ProceedsFromContributionsFromAffiliates_lbl">Distributions paid to noncontrolling interests - Unitholders of the Operating Partnership, net reinvestment</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ProceedsFromContributionsFromAffiliates" xlink:to="us-gaap_ProceedsFromContributionsFromAffiliates_lbl" xlink:title="label: ProceedsFromContributionsFromAffiliates to us-gaap_ProceedsFromContributionsFromAffiliates_lbl" />
    <link:loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2012/elts/us-gaap-2012-01-31.xsd#us-gaap_ProceedsFromCollectionOfLoansReceivable" xlink:label="ProceedsFromCollectionOfLoansReceivable" xlink:title="ProceedsFromCollectionOfLoansReceivable" />
    <link:label xlink:type="resource" xlink:label="us-gaap_ProceedsFromCollectionOfLoansReceivable_lbl" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="us-gaap_ProceedsFromCollectionOfLoansReceivable_lbl" xml:lang="en-US" id="us-gaap_ProceedsFromCollectionOfLoansReceivable_lbl">Principal proceeds on mortgage loans receivable</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ProceedsFromCollectionOfLoansReceivable" xlink:to="us-gaap_ProceedsFromCollectionOfLoansReceivable_lbl" xlink:title="label: ProceedsFromCollectionOfLoansReceivable to us-gaap_ProceedsFromCollectionOfLoansReceivable_lbl" />
    <link:loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2012/elts/us-gaap-2012-01-31.xsd#us-gaap_ProceedsFromCollectionOfOtherReceivables" xlink:label="ProceedsFromCollectionOfOtherReceivables" xlink:title="ProceedsFromCollectionOfOtherReceivables" />
    <link:label xlink:type="resource" xlink:label="us-gaap_ProceedsFromCollectionOfOtherReceivables_lbl" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="us-gaap_ProceedsFromCollectionOfOtherReceivables_lbl" xml:lang="en-US" id="us-gaap_ProceedsFromCollectionOfOtherReceivables_lbl">Insurance proceeds received</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ProceedsFromCollectionOfOtherReceivables" xlink:to="us-gaap_ProceedsFromCollectionOfOtherReceivables_lbl" xlink:title="label: ProceedsFromCollectionOfOtherReceivables to us-gaap_ProceedsFromCollectionOfOtherReceivables_lbl" />
    <link:loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2012/elts/us-gaap-2012-01-31.xsd#us-gaap_ProceedsFromIssuanceOfSharesUnderIncentiveAndShareBasedCompensationPlans" xlink:label="ProceedsFromIssuanceOfSharesUnderIncentiveAndShareBasedCompensationPlans" xlink:title="ProceedsFromIssuanceOfSharesUnderIncentiveAndShareBasedCompensationPlans" />
    <link:label xlink:type="resource" xlink:label="us-gaap_ProceedsFromIssuanceOfSharesUnderIncentiveAndShareBasedCompensationPlans_lbl" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="us-gaap_ProceedsFromIssuanceOfSharesUnderIncentiveAndShareBasedCompensationPlans_lbl" xml:lang="en-US" id="us-gaap_ProceedsFromIssuanceOfSharesUnderIncentiveAndShareBasedCompensationPlans_lbl">Shares issued under the Incentive Award Plan</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ProceedsFromIssuanceOfSharesUnderIncentiveAndShareBasedCompensationPlans" xlink:to="us-gaap_ProceedsFromIssuanceOfSharesUnderIncentiveAndShareBasedCompensationPlans_lbl" xlink:title="label: ProceedsFromIssuanceOfSharesUnderIncentiveAndShareBasedCompensationPlans to us-gaap_ProceedsFromIssuanceOfSharesUnderIncentiveAndShareBasedCompensationPlans_lbl" />
    <link:loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2012/elts/us-gaap-2012-01-31.xsd#us-gaap_ProceedsFromConstructionLoansPayable" xlink:label="ProceedsFromConstructionLoansPayable" xlink:title="ProceedsFromConstructionLoansPayable" />
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    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ProceedsFromConstructionLoansPayable" xlink:to="us-gaap_ProceedsFromConstructionLoansPayable_lbl" xlink:title="label: ProceedsFromConstructionLoansPayable to us-gaap_ProceedsFromConstructionLoansPayable_lbl" />
    <link:label xlink:type="resource" xlink:label="us-gaap_ProceedsFromConstructionLoansPayable_lbl1" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="us-gaap_ProceedsFromConstructionLoansPayable_lbl1" xml:lang="en-US" id="us-gaap_ProceedsFromConstructionLoansPayable_lbl1">Proceeds from Construction Loans Payable</link:label>
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    <link:loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2012/elts/us-gaap-2012-01-31.xsd#us-gaap_ProceedsFromIssuanceOfLongTermDebt" xlink:label="ProceedsFromIssuanceOfLongTermDebt" xlink:title="ProceedsFromIssuanceOfLongTermDebt" />
    <link:label xlink:type="resource" xlink:label="us-gaap_ProceedsFromIssuanceOfLongTermDebt_lbl" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="us-gaap_ProceedsFromIssuanceOfLongTermDebt_lbl" xml:lang="en-US" id="us-gaap_ProceedsFromIssuanceOfLongTermDebt_lbl">Proceeds from mortgages payable</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ProceedsFromIssuanceOfLongTermDebt" xlink:to="us-gaap_ProceedsFromIssuanceOfLongTermDebt_lbl" xlink:title="label: ProceedsFromIssuanceOfLongTermDebt to us-gaap_ProceedsFromIssuanceOfLongTermDebt_lbl" />
    <link:loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2012/elts/us-gaap-2012-01-31.xsd#us-gaap_ProceedsFromIssuanceOfCommonStock" xlink:label="ProceedsFromIssuanceOfCommonStock" xlink:title="ProceedsFromIssuanceOfCommonStock" />
    <link:label xlink:type="resource" xlink:label="us-gaap_ProceedsFromIssuanceOfCommonStock_lbl" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="us-gaap_ProceedsFromIssuanceOfCommonStock_lbl" xml:lang="en-US" id="us-gaap_ProceedsFromIssuanceOfCommonStock_lbl">Proceeds from sale of common shares, net of issue costs</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ProceedsFromIssuanceOfCommonStock" xlink:to="us-gaap_ProceedsFromIssuanceOfCommonStock_lbl" xlink:title="label: ProceedsFromIssuanceOfCommonStock to us-gaap_ProceedsFromIssuanceOfCommonStock_lbl" />
    <link:label xlink:type="resource" xlink:label="us-gaap_ProceedsFromIssuanceOfCommonStock_lbl1" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:title="us-gaap_ProceedsFromIssuanceOfCommonStock_lbl1" xml:lang="en-US" id="us-gaap_ProceedsFromIssuanceOfCommonStock_lbl1">Proceeds from Issuance of Common Stock</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ProceedsFromIssuanceOfCommonStock" xlink:to="us-gaap_ProceedsFromIssuanceOfCommonStock_lbl1" xlink:title="label: ProceedsFromIssuanceOfCommonStock to us-gaap_ProceedsFromIssuanceOfCommonStock_lbl1" />
    <link:loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2012/elts/us-gaap-2012-01-31.xsd#us-gaap_ProceedsFromIssuanceOfPreferredStockAndPreferenceStock" xlink:label="ProceedsFromIssuanceOfPreferredStockAndPreferenceStock" xlink:title="ProceedsFromIssuanceOfPreferredStockAndPreferenceStock" />
    <link:label xlink:type="resource" xlink:label="us-gaap_ProceedsFromIssuanceOfPreferredStockAndPreferenceStock_lbl" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:title="us-gaap_ProceedsFromIssuanceOfPreferredStockAndPreferenceStock_lbl" xml:lang="en-US" id="us-gaap_ProceedsFromIssuanceOfPreferredStockAndPreferenceStock_lbl">Proceeds from underwritten Public Offering of Preferred Shares - Series B, net of offering costs</link:label>
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    <link:label xlink:type="resource" xlink:label="us-gaap_ProceedsFromIssuanceOfPreferredStockAndPreferenceStock_lbl1" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="us-gaap_ProceedsFromIssuanceOfPreferredStockAndPreferenceStock_lbl1" xml:lang="en-US" id="us-gaap_ProceedsFromIssuanceOfPreferredStockAndPreferenceStock_lbl1">Proceeds from issuance of Series B preferred units</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ProceedsFromIssuanceOfPreferredStockAndPreferenceStock" xlink:to="us-gaap_ProceedsFromIssuanceOfPreferredStockAndPreferenceStock_lbl1" xlink:title="label: ProceedsFromIssuanceOfPreferredStockAndPreferenceStock to us-gaap_ProceedsFromIssuanceOfPreferredStockAndPreferenceStock_lbl1" />
    <link:loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2012/elts/us-gaap-2012-01-31.xsd#us-gaap_ProceedsFromLinesOfCredit" xlink:label="ProceedsFromLinesOfCredit" xlink:title="ProceedsFromLinesOfCredit" />
    <link:label xlink:type="resource" xlink:label="us-gaap_ProceedsFromLinesOfCredit_lbl" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="us-gaap_ProceedsFromLinesOfCredit_lbl" xml:lang="en-US" id="us-gaap_ProceedsFromLinesOfCredit_lbl">Proceeds from revolving line of credit and other debt</link:label>
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    <link:loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2012/elts/us-gaap-2012-01-31.xsd#us-gaap_ProceedsFromIssuanceInitialPublicOffering" xlink:label="ProceedsFromIssuanceInitialPublicOffering" xlink:title="ProceedsFromIssuanceInitialPublicOffering" />
    <link:label xlink:type="resource" xlink:label="us-gaap_ProceedsFromIssuanceInitialPublicOffering_lbl" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="us-gaap_ProceedsFromIssuanceInitialPublicOffering_lbl" xml:lang="en-US" id="us-gaap_ProceedsFromIssuanceInitialPublicOffering_lbl">Series B preferred shares issued</link:label>
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    <link:loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2012/elts/us-gaap-2012-01-31.xsd#us-gaap_ProceedsFromOtherEquity" xlink:label="ProceedsFromOtherEquity" xlink:title="ProceedsFromOtherEquity" />
    <link:label xlink:type="resource" xlink:label="us-gaap_ProceedsFromOtherEquity_lbl" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="us-gaap_ProceedsFromOtherEquity_lbl" xml:lang="en-US" id="us-gaap_ProceedsFromOtherEquity_lbl">Proceeds from sale of common shares under distribution reinvestment and share purchase program</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ProceedsFromOtherEquity" xlink:to="us-gaap_ProceedsFromOtherEquity_lbl" xlink:title="label: ProceedsFromOtherEquity to us-gaap_ProceedsFromOtherEquity_lbl" />
    <link:loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2012/elts/us-gaap-2012-01-31.xsd#us-gaap_ProceedsFromSaleOfRealEstate" xlink:label="ProceedsFromSaleOfRealEstate" xlink:title="ProceedsFromSaleOfRealEstate" />
    <link:label xlink:type="resource" xlink:label="us-gaap_ProceedsFromSaleOfRealEstate_lbl" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="us-gaap_ProceedsFromSaleOfRealEstate_lbl" xml:lang="en-US" id="us-gaap_ProceedsFromSaleOfRealEstate_lbl">Proceeds from sale of discontinued operations</link:label>
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    <link:label xlink:type="resource" xlink:label="us-gaap_ProceedsFromSaleOfRealEstate_lbl1" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:title="us-gaap_ProceedsFromSaleOfRealEstate_lbl1" xml:lang="en-US" id="us-gaap_ProceedsFromSaleOfRealEstate_lbl1">Proceeds from sale of property</link:label>
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    <link:loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2012/elts/us-gaap-2012-01-31.xsd#us-gaap_ProfitLoss" xlink:label="ProfitLoss" xlink:title="ProfitLoss" />
    <link:label xlink:type="resource" xlink:label="us-gaap_ProfitLoss_lbl" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="us-gaap_ProfitLoss_lbl" xml:lang="en-US" id="us-gaap_ProfitLoss_lbl">Net income</link:label>
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    <link:label xlink:type="resource" xlink:label="us-gaap_ProfitLoss_lbl1" xlink:role="http://www.xbrl.org/2003/role/totalLabel" xlink:title="us-gaap_ProfitLoss_lbl1" xml:lang="en-US" id="us-gaap_ProfitLoss_lbl1">NET INCOME</link:label>
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    <link:loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2012/elts/us-gaap-2012-01-31.xsd#us-gaap_PropertyPlantAndEquipmentScheduleOfSignificantAcquisitionsAndDisposalsTextBlock" xlink:label="PropertyPlantAndEquipmentScheduleOfSignificantAcquisitionsAndDisposalsTextBlock" xlink:title="PropertyPlantAndEquipmentScheduleOfSignificantAcquisitionsAndDisposalsTextBlock" />
    <link:label xlink:type="resource" xlink:label="us-gaap_PropertyPlantAndEquipmentScheduleOfSignificantAcquisitionsAndDisposalsTextBlock_lbl" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="us-gaap_PropertyPlantAndEquipmentScheduleOfSignificantAcquisitionsAndDisposalsTextBlock_lbl" xml:lang="en-US" id="us-gaap_PropertyPlantAndEquipmentScheduleOfSignificantAcquisitionsAndDisposalsTextBlock_lbl">Acquisitions and development projects placed in service</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="PropertyPlantAndEquipmentScheduleOfSignificantAcquisitionsAndDisposalsTextBlock" xlink:to="us-gaap_PropertyPlantAndEquipmentScheduleOfSignificantAcquisitionsAndDisposalsTextBlock_lbl" xlink:title="label: PropertyPlantAndEquipmentScheduleOfSignificantAcquisitionsAndDisposalsTextBlock to us-gaap_PropertyPlantAndEquipmentScheduleOfSignificantAcquisitionsAndDisposalsTextBlock_lbl" />
    <link:loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2012/elts/us-gaap-2012-01-31.xsd#us-gaap_PropertyPlantAndEquipmentNet" xlink:label="PropertyPlantAndEquipmentNet" xlink:title="PropertyPlantAndEquipmentNet" />
    <link:label xlink:type="resource" xlink:label="us-gaap_PropertyPlantAndEquipmentNet_lbl" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="us-gaap_PropertyPlantAndEquipmentNet_lbl" xml:lang="en-US" id="us-gaap_PropertyPlantAndEquipmentNet_lbl">Property and equipment, net of accumulated depreciation of $1,598 and $1,423, respectively</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="PropertyPlantAndEquipmentNet" xlink:to="us-gaap_PropertyPlantAndEquipmentNet_lbl" xlink:title="label: PropertyPlantAndEquipmentNet to us-gaap_PropertyPlantAndEquipmentNet_lbl" />
    <link:loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2012/elts/us-gaap-2012-01-31.xsd#us-gaap_ProvisionForDoubtfulAccounts" xlink:label="ProvisionForDoubtfulAccounts" xlink:title="ProvisionForDoubtfulAccounts" />
    <link:label xlink:type="resource" xlink:label="us-gaap_ProvisionForDoubtfulAccounts_lbl" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="us-gaap_ProvisionForDoubtfulAccounts_lbl" xml:lang="en-US" id="us-gaap_ProvisionForDoubtfulAccounts_lbl">Bad debt expense</link:label>
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    <link:loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2012/elts/us-gaap-2012-01-31.xsd#us-gaap_RealEstateInventoryCapitalizedInterestCostsIncurred" xlink:label="RealEstateInventoryCapitalizedInterestCostsIncurred" xlink:title="RealEstateInventoryCapitalizedInterestCostsIncurred" />
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    <link:loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2012/elts/us-gaap-2012-01-31.xsd#us-gaap_RealEstateInsurance" xlink:label="RealEstateInsurance" xlink:title="RealEstateInsurance" />
    <link:label xlink:type="resource" xlink:label="us-gaap_RealEstateInsurance_lbl" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="us-gaap_RealEstateInsurance_lbl" xml:lang="en-US" id="us-gaap_RealEstateInsurance_lbl">Insurance</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="RealEstateInsurance" xlink:to="us-gaap_RealEstateInsurance_lbl" xlink:title="label: RealEstateInsurance to us-gaap_RealEstateInsurance_lbl" />
    <link:loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2012/elts/us-gaap-2012-01-31.xsd#us-gaap_RealEstatePropertiesDomain" xlink:label="RealEstatePropertiesDomain" xlink:title="RealEstatePropertiesDomain" />
    <link:label xlink:type="resource" xlink:label="us-gaap_RealEstatePropertiesDomain_lbl" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="us-gaap_RealEstatePropertiesDomain_lbl" xml:lang="en-US" id="us-gaap_RealEstatePropertiesDomain_lbl">Real Estate Properties [Domain]</link:label>
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    <link:loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2012/elts/us-gaap-2012-01-31.xsd#us-gaap_RealEstatePropertiesAxis" xlink:label="RealEstatePropertiesAxis" xlink:title="RealEstatePropertiesAxis" />
    <link:label xlink:type="resource" xlink:label="us-gaap_RealEstatePropertiesAxis_lbl" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="us-gaap_RealEstatePropertiesAxis_lbl" xml:lang="en-US" id="us-gaap_RealEstatePropertiesAxis_lbl">Real Estate Property Ownership [Axis]</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="RealEstatePropertiesAxis" xlink:to="us-gaap_RealEstatePropertiesAxis_lbl" xlink:title="label: RealEstatePropertiesAxis to us-gaap_RealEstatePropertiesAxis_lbl" />
    <link:loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2012/elts/us-gaap-2012-01-31.xsd#us-gaap_RealEstateInvestmentPropertyAtCost" xlink:label="RealEstateInvestmentPropertyAtCost" xlink:title="RealEstateInvestmentPropertyAtCost" />
    <link:label xlink:type="resource" xlink:label="us-gaap_RealEstateInvestmentPropertyAtCost_lbl" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="us-gaap_RealEstateInvestmentPropertyAtCost_lbl" xml:lang="en-US" id="us-gaap_RealEstateInvestmentPropertyAtCost_lbl">Property owned</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="RealEstateInvestmentPropertyAtCost" xlink:to="us-gaap_RealEstateInvestmentPropertyAtCost_lbl" xlink:title="label: RealEstateInvestmentPropertyAtCost to us-gaap_RealEstateInvestmentPropertyAtCost_lbl" />
    <link:loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2012/elts/us-gaap-2012-01-31.xsd#us-gaap_RealEstatePropertiesLineItems" xlink:label="RealEstatePropertiesLineItems" xlink:title="RealEstatePropertiesLineItems" />
    <link:label xlink:type="resource" xlink:label="us-gaap_RealEstatePropertiesLineItems_lbl" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="us-gaap_RealEstatePropertiesLineItems_lbl" xml:lang="en-US" id="us-gaap_RealEstatePropertiesLineItems_lbl">Real Estate Properties [Line Items]</link:label>
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    <link:loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2012/elts/us-gaap-2012-01-31.xsd#us-gaap_RealEstateInvestmentPropertyNet" xlink:label="RealEstateInvestmentPropertyNet" xlink:title="RealEstateInvestmentPropertyNet" />
    <link:label xlink:type="resource" xlink:label="us-gaap_RealEstateInvestmentPropertyNet_lbl" xlink:role="http://www.xbrl.org/2003/role/totalLabel" xlink:title="us-gaap_RealEstateInvestmentPropertyNet_lbl" xml:lang="en-US" id="us-gaap_RealEstateInvestmentPropertyNet_lbl">Total property owned</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="RealEstateInvestmentPropertyNet" xlink:to="us-gaap_RealEstateInvestmentPropertyNet_lbl" xlink:title="label: RealEstateInvestmentPropertyNet to us-gaap_RealEstateInvestmentPropertyNet_lbl" />
    <link:label xlink:type="resource" xlink:label="us-gaap_RealEstateInvestmentPropertyNet_lbl1" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="us-gaap_RealEstateInvestmentPropertyNet_lbl1" xml:lang="en-US" id="us-gaap_RealEstateInvestmentPropertyNet_lbl1">Total property owned</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="RealEstateInvestmentPropertyNet" xlink:to="us-gaap_RealEstateInvestmentPropertyNet_lbl1" xlink:title="label: RealEstateInvestmentPropertyNet to us-gaap_RealEstateInvestmentPropertyNet_lbl1" />
    <link:loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2012/elts/us-gaap-2012-01-31.xsd#us-gaap_RealEstateInvestments" xlink:label="RealEstateInvestments" xlink:title="RealEstateInvestments" />
    <link:label xlink:type="resource" xlink:label="us-gaap_RealEstateInvestments_lbl" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="us-gaap_RealEstateInvestments_lbl" xml:lang="en-US" id="us-gaap_RealEstateInvestments_lbl">Real estate investment amount of properties (net of accumulated depreciation)</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="RealEstateInvestments" xlink:to="us-gaap_RealEstateInvestments_lbl" xlink:title="label: RealEstateInvestments to us-gaap_RealEstateInvestments_lbl" />
    <link:loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2012/elts/us-gaap-2012-01-31.xsd#us-gaap_RealEstateInvestmentPropertyAccumulatedDepreciation" xlink:label="RealEstateInvestmentPropertyAccumulatedDepreciation" xlink:title="RealEstateInvestmentPropertyAccumulatedDepreciation" />
    <link:label xlink:type="resource" xlink:label="us-gaap_RealEstateInvestmentPropertyAccumulatedDepreciation_lbl" xlink:role="http://www.xbrl.org/2009/role/negatedLabel" xlink:title="us-gaap_RealEstateInvestmentPropertyAccumulatedDepreciation_lbl" xml:lang="en-US" id="us-gaap_RealEstateInvestmentPropertyAccumulatedDepreciation_lbl">Less accumulated depreciation</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="RealEstateInvestmentPropertyAccumulatedDepreciation" xlink:to="us-gaap_RealEstateInvestmentPropertyAccumulatedDepreciation_lbl" xlink:title="label: RealEstateInvestmentPropertyAccumulatedDepreciation to us-gaap_RealEstateInvestmentPropertyAccumulatedDepreciation_lbl" />
    <link:label xlink:type="resource" xlink:label="us-gaap_RealEstateInvestmentPropertyAccumulatedDepreciation_lbl1" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="us-gaap_RealEstateInvestmentPropertyAccumulatedDepreciation_lbl1" xml:lang="en-US" id="us-gaap_RealEstateInvestmentPropertyAccumulatedDepreciation_lbl1">Real Estate Investment Property, Accumulated Depreciation</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="RealEstateInvestmentPropertyAccumulatedDepreciation" xlink:to="us-gaap_RealEstateInvestmentPropertyAccumulatedDepreciation_lbl1" xlink:title="label: RealEstateInvestmentPropertyAccumulatedDepreciation to us-gaap_RealEstateInvestmentPropertyAccumulatedDepreciation_lbl1" />
    <link:loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2012/elts/us-gaap-2012-01-31.xsd#us-gaap_RealEstateInvestmentsJointVentures" xlink:label="RealEstateInvestmentsJointVentures" xlink:title="RealEstateInvestmentsJointVentures" />
    <link:label xlink:type="resource" xlink:label="us-gaap_RealEstateInvestmentsJointVentures_lbl" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="us-gaap_RealEstateInvestmentsJointVentures_lbl" xml:lang="en-US" id="us-gaap_RealEstateInvestmentsJointVentures_lbl">Joint ventures partner's interest acquired</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="RealEstateInvestmentsJointVentures" xlink:to="us-gaap_RealEstateInvestmentsJointVentures_lbl" xlink:title="label: RealEstateInvestmentsJointVentures to us-gaap_RealEstateInvestmentsJointVentures_lbl" />
    <link:loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2012/elts/us-gaap-2012-01-31.xsd#us-gaap_RealEstateHeldforsale" xlink:label="RealEstateHeldforsale" xlink:title="RealEstateHeldforsale" />
    <link:label xlink:type="resource" xlink:label="us-gaap_RealEstateHeldforsale_lbl" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="us-gaap_RealEstateHeldforsale_lbl" xml:lang="en-US" id="us-gaap_RealEstateHeldforsale_lbl">Real estate held for sale</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="RealEstateHeldforsale" xlink:to="us-gaap_RealEstateHeldforsale_lbl" xlink:title="label: RealEstateHeldforsale to us-gaap_RealEstateHeldforsale_lbl" />
    <link:label xlink:type="resource" xlink:label="us-gaap_RealEstateHeldforsale_lbl1" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:title="us-gaap_RealEstateHeldforsale_lbl1" xml:lang="en-US" id="us-gaap_RealEstateHeldforsale_lbl1">Real Estate Held-for-sale</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="RealEstateHeldforsale" xlink:to="us-gaap_RealEstateHeldforsale_lbl1" xlink:title="label: RealEstateHeldforsale to us-gaap_RealEstateHeldforsale_lbl1" />
    <link:loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2012/elts/us-gaap-2012-01-31.xsd#us-gaap_RealEstateRevenueNet" xlink:label="RealEstateRevenueNet" xlink:title="RealEstateRevenueNet" />
    <link:label xlink:type="resource" xlink:label="us-gaap_RealEstateRevenueNet_lbl" xlink:role="http://www.xbrl.org/2003/role/totalLabel" xlink:title="us-gaap_RealEstateRevenueNet_lbl" xml:lang="en-US" id="us-gaap_RealEstateRevenueNet_lbl">TOTAL REVENUE</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="RealEstateRevenueNet" xlink:to="us-gaap_RealEstateRevenueNet_lbl" xlink:title="label: RealEstateRevenueNet to us-gaap_RealEstateRevenueNet_lbl" />
    <link:label xlink:type="resource" xlink:label="us-gaap_RealEstateRevenueNet_lbl1" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="us-gaap_RealEstateRevenueNet_lbl1" xml:lang="en-US" id="us-gaap_RealEstateRevenueNet_lbl1">TOTAL REVENUE</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="RealEstateRevenueNet" xlink:to="us-gaap_RealEstateRevenueNet_lbl1" xlink:title="label: RealEstateRevenueNet to us-gaap_RealEstateRevenueNet_lbl1" />
    <link:label xlink:type="resource" xlink:label="us-gaap_RealEstateRevenueNet_lbl2" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:title="us-gaap_RealEstateRevenueNet_lbl2" xml:lang="en-US" id="us-gaap_RealEstateRevenueNet_lbl2">Real estate revenue</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="RealEstateRevenueNet" xlink:to="us-gaap_RealEstateRevenueNet_lbl2" xlink:title="label: RealEstateRevenueNet to us-gaap_RealEstateRevenueNet_lbl2" />
    <link:loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2012/elts/us-gaap-2012-01-31.xsd#us-gaap_RealEstateTaxExpense" xlink:label="RealEstateTaxExpense" xlink:title="RealEstateTaxExpense" />
    <link:label xlink:type="resource" xlink:label="us-gaap_RealEstateTaxExpense_lbl" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="us-gaap_RealEstateTaxExpense_lbl" xml:lang="en-US" id="us-gaap_RealEstateTaxExpense_lbl">Real estate taxes</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="RealEstateTaxExpense" xlink:to="us-gaap_RealEstateTaxExpense_lbl" xlink:title="label: RealEstateTaxExpense to us-gaap_RealEstateTaxExpense_lbl" />
    <link:loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2012/elts/us-gaap-2012-01-31.xsd#us-gaap_ReconciliationOfOperatingProfitLossFromSegmentsToConsolidatedTextBlock" xlink:label="ReconciliationOfOperatingProfitLossFromSegmentsToConsolidatedTextBlock" xlink:title="ReconciliationOfOperatingProfitLossFromSegmentsToConsolidatedTextBlock" />
    <link:label xlink:type="resource" xlink:label="us-gaap_ReconciliationOfOperatingProfitLossFromSegmentsToConsolidatedTextBlock_lbl" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="us-gaap_ReconciliationOfOperatingProfitLossFromSegmentsToConsolidatedTextBlock_lbl" xml:lang="en-US" id="us-gaap_ReconciliationOfOperatingProfitLossFromSegmentsToConsolidatedTextBlock_lbl">Revenues and net operating income for reportable segments</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ReconciliationOfOperatingProfitLossFromSegmentsToConsolidatedTextBlock" xlink:to="us-gaap_ReconciliationOfOperatingProfitLossFromSegmentsToConsolidatedTextBlock_lbl" xlink:title="label: ReconciliationOfOperatingProfitLossFromSegmentsToConsolidatedTextBlock to us-gaap_ReconciliationOfOperatingProfitLossFromSegmentsToConsolidatedTextBlock_lbl" />
    <link:loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2012/elts/us-gaap-2012-01-31.xsd#us-gaap_ReconciliationOfAssetsFromSegmentToConsolidatedTextBlock" xlink:label="ReconciliationOfAssetsFromSegmentToConsolidatedTextBlock" xlink:title="ReconciliationOfAssetsFromSegmentToConsolidatedTextBlock" />
    <link:label xlink:type="resource" xlink:label="us-gaap_ReconciliationOfAssetsFromSegmentToConsolidatedTextBlock_lbl" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="us-gaap_ReconciliationOfAssetsFromSegmentToConsolidatedTextBlock_lbl" xml:lang="en-US" id="us-gaap_ReconciliationOfAssetsFromSegmentToConsolidatedTextBlock_lbl">Segment Assets and Accumulated Depreciation</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ReconciliationOfAssetsFromSegmentToConsolidatedTextBlock" xlink:to="us-gaap_ReconciliationOfAssetsFromSegmentToConsolidatedTextBlock_lbl" xlink:title="label: ReconciliationOfAssetsFromSegmentToConsolidatedTextBlock to us-gaap_ReconciliationOfAssetsFromSegmentToConsolidatedTextBlock_lbl" />
    <link:loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2012/elts/us-gaap-2012-01-31.xsd#us-gaap_RedeemableNoncontrollingInterestTableTextBlock" xlink:label="RedeemableNoncontrollingInterestTableTextBlock" xlink:title="RedeemableNoncontrollingInterestTableTextBlock" />
    <link:label xlink:type="resource" xlink:label="us-gaap_RedeemableNoncontrollingInterestTableTextBlock_lbl" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="us-gaap_RedeemableNoncontrollingInterestTableTextBlock_lbl" xml:lang="en-US" id="us-gaap_RedeemableNoncontrollingInterestTableTextBlock_lbl">Redeemable noncontrolling interest</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="RedeemableNoncontrollingInterestTableTextBlock" xlink:to="us-gaap_RedeemableNoncontrollingInterestTableTextBlock_lbl" xlink:title="label: RedeemableNoncontrollingInterestTableTextBlock to us-gaap_RedeemableNoncontrollingInterestTableTextBlock_lbl" />
    <link:loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2012/elts/us-gaap-2012-01-31.xsd#us-gaap_RedeemableNoncontrollingInterestByLegalEntityTable" xlink:label="RedeemableNoncontrollingInterestByLegalEntityTable" xlink:title="RedeemableNoncontrollingInterestByLegalEntityTable" />
    <link:label xlink:type="resource" xlink:label="us-gaap_RedeemableNoncontrollingInterestByLegalEntityTable_lbl" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="us-gaap_RedeemableNoncontrollingInterestByLegalEntityTable_lbl" xml:lang="en-US" id="us-gaap_RedeemableNoncontrollingInterestByLegalEntityTable_lbl">Redeemable Noncontrolling Interest, by Legal Entity [Table]</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="RedeemableNoncontrollingInterestByLegalEntityTable" xlink:to="us-gaap_RedeemableNoncontrollingInterestByLegalEntityTable_lbl" xlink:title="label: RedeemableNoncontrollingInterestByLegalEntityTable to us-gaap_RedeemableNoncontrollingInterestByLegalEntityTable_lbl" />
    <link:loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2012/elts/us-gaap-2012-01-31.xsd#us-gaap_RedeemableNoncontrollingInterestLineItems" xlink:label="RedeemableNoncontrollingInterestLineItems" xlink:title="RedeemableNoncontrollingInterestLineItems" />
    <link:label xlink:type="resource" xlink:label="us-gaap_RedeemableNoncontrollingInterestLineItems_lbl" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="us-gaap_RedeemableNoncontrollingInterestLineItems_lbl" xml:lang="en-US" id="us-gaap_RedeemableNoncontrollingInterestLineItems_lbl">Redeemable Noncontrolling Interest [Line Items]</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="RedeemableNoncontrollingInterestLineItems" xlink:to="us-gaap_RedeemableNoncontrollingInterestLineItems_lbl" xlink:title="label: RedeemableNoncontrollingInterestLineItems to us-gaap_RedeemableNoncontrollingInterestLineItems_lbl" />
    <link:loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2012/elts/us-gaap-2012-01-31.xsd#us-gaap_RepaymentOfDebtMember" xlink:label="RepaymentOfDebtMember" xlink:title="RepaymentOfDebtMember" />
    <link:label xlink:type="resource" xlink:label="us-gaap_RepaymentOfDebtMember_lbl" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="us-gaap_RepaymentOfDebtMember_lbl" xml:lang="en-US" id="us-gaap_RepaymentOfDebtMember_lbl">Repayment of Debt [Member]</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="RepaymentOfDebtMember" xlink:to="us-gaap_RepaymentOfDebtMember_lbl" xlink:title="label: RepaymentOfDebtMember to us-gaap_RepaymentOfDebtMember_lbl" />
    <link:loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2012/elts/us-gaap-2012-01-31.xsd#us-gaap_RepaymentsOfOtherShortTermDebt" xlink:label="RepaymentsOfOtherShortTermDebt" xlink:title="RepaymentsOfOtherShortTermDebt" />
    <link:label xlink:type="resource" xlink:label="us-gaap_RepaymentsOfOtherShortTermDebt_lbl" xlink:role="http://www.xbrl.org/2009/role/negatedLabel" xlink:title="us-gaap_RepaymentsOfOtherShortTermDebt_lbl" xml:lang="en-US" id="us-gaap_RepaymentsOfOtherShortTermDebt_lbl">Principal payments on revolving line of credit and other debt</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="RepaymentsOfOtherShortTermDebt" xlink:to="us-gaap_RepaymentsOfOtherShortTermDebt_lbl" xlink:title="label: RepaymentsOfOtherShortTermDebt to us-gaap_RepaymentsOfOtherShortTermDebt_lbl" />
    <link:label xlink:type="resource" xlink:label="us-gaap_RepaymentsOfOtherShortTermDebt_lbl1" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="us-gaap_RepaymentsOfOtherShortTermDebt_lbl1" xml:lang="en-US" id="us-gaap_RepaymentsOfOtherShortTermDebt_lbl1">Repayments of Other Short-term Debt</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="RepaymentsOfOtherShortTermDebt" xlink:to="us-gaap_RepaymentsOfOtherShortTermDebt_lbl1" xlink:title="label: RepaymentsOfOtherShortTermDebt to us-gaap_RepaymentsOfOtherShortTermDebt_lbl1" />
    <link:loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2012/elts/us-gaap-2012-01-31.xsd#us-gaap_RepaymentsOfLongTermDebt" xlink:label="RepaymentsOfLongTermDebt" xlink:title="RepaymentsOfLongTermDebt" />
    <link:label xlink:type="resource" xlink:label="us-gaap_RepaymentsOfLongTermDebt_lbl" xlink:role="http://www.xbrl.org/2009/role/negatedLabel" xlink:title="us-gaap_RepaymentsOfLongTermDebt_lbl" xml:lang="en-US" id="us-gaap_RepaymentsOfLongTermDebt_lbl">Principal payments on mortgages payable</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="RepaymentsOfLongTermDebt" xlink:to="us-gaap_RepaymentsOfLongTermDebt_lbl" xlink:title="label: RepaymentsOfLongTermDebt to us-gaap_RepaymentsOfLongTermDebt_lbl" />
    <link:label xlink:type="resource" xlink:label="us-gaap_RepaymentsOfLongTermDebt_lbl1" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="us-gaap_RepaymentsOfLongTermDebt_lbl1" xml:lang="en-US" id="us-gaap_RepaymentsOfLongTermDebt_lbl1">Repayments of Long-term Debt</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="RepaymentsOfLongTermDebt" xlink:to="us-gaap_RepaymentsOfLongTermDebt_lbl1" xlink:title="label: RepaymentsOfLongTermDebt to us-gaap_RepaymentsOfLongTermDebt_lbl1" />
    <link:loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2012/elts/us-gaap-2012-01-31.xsd#us-gaap_RepaymentsOfLongTermLinesOfCredit" xlink:label="RepaymentsOfLongTermLinesOfCredit" xlink:title="RepaymentsOfLongTermLinesOfCredit" />
    <link:label xlink:type="resource" xlink:label="us-gaap_RepaymentsOfLongTermLinesOfCredit_lbl" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:title="us-gaap_RepaymentsOfLongTermLinesOfCredit_lbl" xml:lang="en-US" id="us-gaap_RepaymentsOfLongTermLinesOfCredit_lbl">Repayment of borrowings</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="RepaymentsOfLongTermLinesOfCredit" xlink:to="us-gaap_RepaymentsOfLongTermLinesOfCredit_lbl" xlink:title="label: RepaymentsOfLongTermLinesOfCredit to us-gaap_RepaymentsOfLongTermLinesOfCredit_lbl" />
    <link:label xlink:type="resource" xlink:label="us-gaap_RepaymentsOfLongTermLinesOfCredit_lbl1" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="us-gaap_RepaymentsOfLongTermLinesOfCredit_lbl1" xml:lang="en-US" id="us-gaap_RepaymentsOfLongTermLinesOfCredit_lbl1">Repayments of Long-term Lines of Credit</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="RepaymentsOfLongTermLinesOfCredit" xlink:to="us-gaap_RepaymentsOfLongTermLinesOfCredit_lbl1" xlink:title="label: RepaymentsOfLongTermLinesOfCredit to us-gaap_RepaymentsOfLongTermLinesOfCredit_lbl1" />
    <link:loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2012/elts/us-gaap-2012-01-31.xsd#us-gaap_RetainedEarningsAccumulatedDeficit" xlink:label="RetainedEarningsAccumulatedDeficit" xlink:title="RetainedEarningsAccumulatedDeficit" />
    <link:label xlink:type="resource" xlink:label="us-gaap_RetainedEarningsAccumulatedDeficit_lbl" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="us-gaap_RetainedEarningsAccumulatedDeficit_lbl" xml:lang="en-US" id="us-gaap_RetainedEarningsAccumulatedDeficit_lbl">Accumulated distributions in excess of net income</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="RetainedEarningsAccumulatedDeficit" xlink:to="us-gaap_RetainedEarningsAccumulatedDeficit_lbl" xlink:title="label: RetainedEarningsAccumulatedDeficit to us-gaap_RetainedEarningsAccumulatedDeficit_lbl" />
    <link:loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2012/elts/us-gaap-2012-01-31.xsd#us-gaap_RetainedEarningsMember" xlink:label="RetainedEarningsMember" xlink:title="RetainedEarningsMember" />
    <link:label xlink:type="resource" xlink:label="us-gaap_RetainedEarningsMember_lbl" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="us-gaap_RetainedEarningsMember_lbl" xml:lang="en-US" id="us-gaap_RetainedEarningsMember_lbl">ACCUMULATED DISTRIBUTIONS IN EXCESS OF NET INCOME [Member]</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="RetainedEarningsMember" xlink:to="us-gaap_RetainedEarningsMember_lbl" xlink:title="label: RetainedEarningsMember to us-gaap_RetainedEarningsMember_lbl" />
    <link:loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2012/elts/us-gaap-2012-01-31.xsd#us-gaap_Revenues" xlink:label="Revenues" xlink:title="Revenues" />
    <link:label xlink:type="resource" xlink:label="us-gaap_Revenues_lbl" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="us-gaap_Revenues_lbl" xml:lang="en-US" id="us-gaap_Revenues_lbl">Sales price</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="Revenues" xlink:to="us-gaap_Revenues_lbl" xlink:title="label: Revenues to us-gaap_Revenues_lbl" />
    <link:loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2012/elts/us-gaap-2012-01-31.xsd#us-gaap_RevenuesAbstract" xlink:label="RevenuesAbstract" xlink:title="RevenuesAbstract" />
    <link:label xlink:type="resource" xlink:label="us-gaap_RevenuesAbstract_lbl" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="us-gaap_RevenuesAbstract_lbl" xml:lang="en-US" id="us-gaap_RevenuesAbstract_lbl">REVENUE</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="RevenuesAbstract" xlink:to="us-gaap_RevenuesAbstract_lbl" xlink:title="label: RevenuesAbstract to us-gaap_RevenuesAbstract_lbl" />
    <link:loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2012/elts/us-gaap-2012-01-31.xsd#us-gaap_StraightLineRent" xlink:label="StraightLineRent" xlink:title="StraightLineRent" />
    <link:label xlink:type="resource" xlink:label="us-gaap_StraightLineRent_lbl" xlink:role="http://www.xbrl.org/2009/role/negatedLabel" xlink:title="us-gaap_StraightLineRent_lbl" xml:lang="en-US" id="us-gaap_StraightLineRent_lbl">Increase in receivable arising from straight-lining of rents</link:label>
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    <link:loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2012/elts/us-gaap-2012-01-31.xsd#us-gaap_ScheduleOfFairValueAssetsAndLiabilitiesMeasuredOnRecurringBasisTableTextBlock" xlink:label="ScheduleOfFairValueAssetsAndLiabilitiesMeasuredOnRecurringBasisTableTextBlock" xlink:title="ScheduleOfFairValueAssetsAndLiabilitiesMeasuredOnRecurringBasisTableTextBlock" />
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    <link:loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2012/elts/us-gaap-2012-01-31.xsd#us-gaap_ScheduleOfMaturitiesOfLongTermDebtTableTextBlock" xlink:label="ScheduleOfMaturitiesOfLongTermDebtTableTextBlock" xlink:title="ScheduleOfMaturitiesOfLongTermDebtTableTextBlock" />
    <link:label xlink:type="resource" xlink:label="us-gaap_ScheduleOfMaturitiesOfLongTermDebtTableTextBlock_lbl" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="us-gaap_ScheduleOfMaturitiesOfLongTermDebtTableTextBlock_lbl" xml:lang="en-US" id="us-gaap_ScheduleOfMaturitiesOfLongTermDebtTableTextBlock_lbl">Aggregate amount of required future principal payments on mortgages payable</link:label>
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    <link:loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2012/elts/us-gaap-2012-01-31.xsd#us-gaap_ScheduleOfFiniteLivedIntangibleAssetsTable" xlink:label="ScheduleOfFiniteLivedIntangibleAssetsTable" xlink:title="ScheduleOfFiniteLivedIntangibleAssetsTable" />
    <link:label xlink:type="resource" xlink:label="us-gaap_ScheduleOfFiniteLivedIntangibleAssetsTable_lbl" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="us-gaap_ScheduleOfFiniteLivedIntangibleAssetsTable_lbl" xml:lang="en-US" id="us-gaap_ScheduleOfFiniteLivedIntangibleAssetsTable_lbl">Schedule of Finite-Lived Intangible Assets [Table]</link:label>
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    <link:label xlink:type="resource" xlink:label="us-gaap_ScheduleOfCompensatingBalancesTable_lbl" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="us-gaap_ScheduleOfCompensatingBalancesTable_lbl" xml:lang="en-US" id="us-gaap_ScheduleOfCompensatingBalancesTable_lbl">Schedule of Compensating Balances [Table]</link:label>
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    <link:label xlink:type="resource" xlink:label="us-gaap_ScheduleOfCalculationOfNumeratorAndDenominatorInEarningsPerShareTableTextBlock_lbl" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="us-gaap_ScheduleOfCalculationOfNumeratorAndDenominatorInEarningsPerShareTableTextBlock_lbl" xml:lang="en-US" id="us-gaap_ScheduleOfCalculationOfNumeratorAndDenominatorInEarningsPerShareTableTextBlock_lbl">Reconciliation of numerator and denominator used to calculate basic and diluted earnings per share</link:label>
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    <link:loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2012/elts/us-gaap-2012-01-31.xsd#us-gaap_ScheduleOfDisposalGroupsIncludingDiscontinuedOperationsIncomeStatementBalanceSheetAndAdditionalDisclosuresTextBlock" xlink:label="ScheduleOfDisposalGroupsIncludingDiscontinuedOperationsIncomeStatementBalanceSheetAndAdditionalDisclosuresTextBlock" xlink:title="ScheduleOfDisposalGroupsIncludingDiscontinuedOperationsIncomeStatementBalanceSheetAndAdditionalDisclosuresTextBlock" />
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    <link:loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2012/elts/us-gaap-2012-01-31.xsd#us-gaap_ScheduleOfSegmentReportingInformationBySegmentTable" xlink:label="ScheduleOfSegmentReportingInformationBySegmentTable" xlink:title="ScheduleOfSegmentReportingInformationBySegmentTable" />
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    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ScheduleOfSubsequentEventsTextBlock" xlink:to="us-gaap_ScheduleOfSubsequentEventsTextBlock_lbl" xlink:title="label: ScheduleOfSubsequentEventsTextBlock to us-gaap_ScheduleOfSubsequentEventsTextBlock_lbl" />
    <link:loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2012/elts/us-gaap-2012-01-31.xsd#us-gaap_ScheduleOfSignificantAcquisitionsAndDisposalsTable" xlink:label="ScheduleOfSignificantAcquisitionsAndDisposalsTable" xlink:title="ScheduleOfSignificantAcquisitionsAndDisposalsTable" />
    <link:label xlink:type="resource" xlink:label="us-gaap_ScheduleOfSignificantAcquisitionsAndDisposalsTable_lbl" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="us-gaap_ScheduleOfSignificantAcquisitionsAndDisposalsTable_lbl" xml:lang="en-US" id="us-gaap_ScheduleOfSignificantAcquisitionsAndDisposalsTable_lbl">Schedule of Significant Acquisitions and Disposals [Table]</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ScheduleOfSignificantAcquisitionsAndDisposalsTable" xlink:to="us-gaap_ScheduleOfSignificantAcquisitionsAndDisposalsTable_lbl" xlink:title="label: ScheduleOfSignificantAcquisitionsAndDisposalsTable to us-gaap_ScheduleOfSignificantAcquisitionsAndDisposalsTable_lbl" />
    <link:loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2012/elts/us-gaap-2012-01-31.xsd#us-gaap_ScheduleOfStockByClassTable" xlink:label="ScheduleOfStockByClassTable" xlink:title="ScheduleOfStockByClassTable" />
    <link:label xlink:type="resource" xlink:label="us-gaap_ScheduleOfStockByClassTable_lbl" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="us-gaap_ScheduleOfStockByClassTable_lbl" xml:lang="en-US" id="us-gaap_ScheduleOfStockByClassTable_lbl">Schedule of Stock by Class [Table]</link:label>
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    <link:label xlink:type="resource" xlink:label="us-gaap_SegmentReportingInformationLineItems_lbl" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="us-gaap_SegmentReportingInformationLineItems_lbl" xml:lang="en-US" id="us-gaap_SegmentReportingInformationLineItems_lbl">Segment Reporting Information [Line Items]</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="SegmentReportingInformationLineItems" xlink:to="us-gaap_SegmentReportingInformationLineItems_lbl" xlink:title="label: SegmentReportingInformationLineItems to us-gaap_SegmentReportingInformationLineItems_lbl" />
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    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="SegmentReportingAbstract" xlink:to="us-gaap_SegmentReportingAbstract_lbl" xlink:title="label: SegmentReportingAbstract to us-gaap_SegmentReportingAbstract_lbl" />
    <link:loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2012/elts/us-gaap-2012-01-31.xsd#us-gaap_SegmentReportingInformationProfitLossAbstract" xlink:label="SegmentReportingInformationProfitLossAbstract" xlink:title="SegmentReportingInformationProfitLossAbstract" />
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    <link:label xlink:type="resource" xlink:label="us-gaap_SegmentReportingDisclosureTextBlock_lbl" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="us-gaap_SegmentReportingDisclosureTextBlock_lbl" xml:lang="en-US" id="us-gaap_SegmentReportingDisclosureTextBlock_lbl">SEGMENT REPORTING</link:label>
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    <link:loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2012/elts/us-gaap-2012-01-31.xsd#us-gaap_SegmentDomain" xlink:label="SegmentDomain" xlink:title="SegmentDomain" />
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    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="SegmentDomain" xlink:to="us-gaap_SegmentDomain_lbl" xlink:title="label: SegmentDomain to us-gaap_SegmentDomain_lbl" />
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    <link:label xlink:type="resource" xlink:label="us-gaap_SegmentDiscontinuedOperationsMember_lbl" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="us-gaap_SegmentDiscontinuedOperationsMember_lbl" xml:lang="en-US" id="us-gaap_SegmentDiscontinuedOperationsMember_lbl">Discontinued Operations [Member]</link:label>
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    <link:loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2012/elts/us-gaap-2012-01-31.xsd#us-gaap_SeriesAPreferredStockMember" xlink:label="SeriesAPreferredStockMember" xlink:title="SeriesAPreferredStockMember" />
    <link:label xlink:type="resource" xlink:label="us-gaap_SeriesAPreferredStockMember_lbl" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="us-gaap_SeriesAPreferredStockMember_lbl" xml:lang="en-US" id="us-gaap_SeriesAPreferredStockMember_lbl">Series A Preferred Stock [Member]</link:label>
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    <link:label xlink:type="resource" xlink:label="us-gaap_SeriesBPreferredStockMember_lbl" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="us-gaap_SeriesBPreferredStockMember_lbl" xml:lang="en-US" id="us-gaap_SeriesBPreferredStockMember_lbl">Series B Preferred Stock [Member]</link:label>
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    <link:loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2012/elts/us-gaap-2012-01-31.xsd#us-gaap_SharesIssued" xlink:label="SharesIssued" xlink:title="SharesIssued" />
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    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="SharesIssued" xlink:to="us-gaap_SharesIssued_lbl1" xlink:title="label: SharesIssued to us-gaap_SharesIssued_lbl1" />
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    <link:label xlink:type="resource" xlink:label="us-gaap_SignificantAccountingPoliciesTextBlock_lbl" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="us-gaap_SignificantAccountingPoliciesTextBlock_lbl" xml:lang="en-US" id="us-gaap_SignificantAccountingPoliciesTextBlock_lbl">BASIS OF PRESENTATION AND SIGNIFICANT ACCOUNTING POLICIES</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="SignificantAccountingPoliciesTextBlock" xlink:to="us-gaap_SignificantAccountingPoliciesTextBlock_lbl" xlink:title="label: SignificantAccountingPoliciesTextBlock to us-gaap_SignificantAccountingPoliciesTextBlock_lbl" />
    <link:loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2012/elts/us-gaap-2012-01-31.xsd#us-gaap_SignificantAcquisitionsAndDisposalsLineItems" xlink:label="SignificantAcquisitionsAndDisposalsLineItems" xlink:title="SignificantAcquisitionsAndDisposalsLineItems" />
    <link:label xlink:type="resource" xlink:label="us-gaap_SignificantAcquisitionsAndDisposalsLineItems_lbl" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="us-gaap_SignificantAcquisitionsAndDisposalsLineItems_lbl" xml:lang="en-US" id="us-gaap_SignificantAcquisitionsAndDisposalsLineItems_lbl">Significant Acquisitions and Disposals [Line Items]</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="SignificantAcquisitionsAndDisposalsLineItems" xlink:to="us-gaap_SignificantAcquisitionsAndDisposalsLineItems_lbl" xlink:title="label: SignificantAcquisitionsAndDisposalsLineItems to us-gaap_SignificantAcquisitionsAndDisposalsLineItems_lbl" />
    <link:loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2012/elts/us-gaap-2012-01-31.xsd#us-gaap_SignificantAcquisitionsAndDisposalsTransactionDomain" xlink:label="SignificantAcquisitionsAndDisposalsTransactionDomain" xlink:title="SignificantAcquisitionsAndDisposalsTransactionDomain" />
    <link:label xlink:type="resource" xlink:label="us-gaap_SignificantAcquisitionsAndDisposalsTransactionDomain_lbl" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="us-gaap_SignificantAcquisitionsAndDisposalsTransactionDomain_lbl" xml:lang="en-US" id="us-gaap_SignificantAcquisitionsAndDisposalsTransactionDomain_lbl">Significant Acquisitions and Disposals, Transaction [Domain]</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="SignificantAcquisitionsAndDisposalsTransactionDomain" xlink:to="us-gaap_SignificantAcquisitionsAndDisposalsTransactionDomain_lbl" xlink:title="label: SignificantAcquisitionsAndDisposalsTransactionDomain to us-gaap_SignificantAcquisitionsAndDisposalsTransactionDomain_lbl" />
    <link:loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2012/elts/us-gaap-2012-01-31.xsd#us-gaap_SignificantAcquisitionsAndDisposalsByTransactionAxis" xlink:label="SignificantAcquisitionsAndDisposalsByTransactionAxis" xlink:title="SignificantAcquisitionsAndDisposalsByTransactionAxis" />
    <link:label xlink:type="resource" xlink:label="us-gaap_SignificantAcquisitionsAndDisposalsByTransactionAxis_lbl" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="us-gaap_SignificantAcquisitionsAndDisposalsByTransactionAxis_lbl" xml:lang="en-US" id="us-gaap_SignificantAcquisitionsAndDisposalsByTransactionAxis_lbl">Significant Acquisitions and Disposals by Transaction [Axis]</link:label>
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    <link:loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2012/elts/us-gaap-2012-01-31.xsd#us-gaap_SignificantAcquisitionsAndDisposalsAcquisitionCostsOrSaleProceeds" xlink:label="SignificantAcquisitionsAndDisposalsAcquisitionCostsOrSaleProceeds" xlink:title="SignificantAcquisitionsAndDisposalsAcquisitionCostsOrSaleProceeds" />
    <link:label xlink:type="resource" xlink:label="us-gaap_SignificantAcquisitionsAndDisposalsAcquisitionCostsOrSaleProceeds_lbl" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="us-gaap_SignificantAcquisitionsAndDisposalsAcquisitionCostsOrSaleProceeds_lbl" xml:lang="en-US" id="us-gaap_SignificantAcquisitionsAndDisposalsAcquisitionCostsOrSaleProceeds_lbl">Acquisition costs</link:label>
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    <link:loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2012/elts/us-gaap-2012-01-31.xsd#us-gaap_StatementTable" xlink:label="StatementTable" xlink:title="StatementTable" />
    <link:label xlink:type="resource" xlink:label="us-gaap_StatementTable_lbl" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="us-gaap_StatementTable_lbl" xml:lang="en-US" id="us-gaap_StatementTable_lbl">Statement [Table]</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="StatementTable" xlink:to="us-gaap_StatementTable_lbl" xlink:title="label: StatementTable to us-gaap_StatementTable_lbl" />
    <link:loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2012/elts/us-gaap-2012-01-31.xsd#us-gaap_StatementScenarioAxis" xlink:label="StatementScenarioAxis" xlink:title="StatementScenarioAxis" />
    <link:label xlink:type="resource" xlink:label="us-gaap_StatementScenarioAxis_lbl" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="us-gaap_StatementScenarioAxis_lbl" xml:lang="en-US" id="us-gaap_StatementScenarioAxis_lbl">Scenario [Axis]</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="StatementScenarioAxis" xlink:to="us-gaap_StatementScenarioAxis_lbl" xlink:title="label: StatementScenarioAxis to us-gaap_StatementScenarioAxis_lbl" />
    <link:loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2012/elts/us-gaap-2012-01-31.xsd#us-gaap_StatementLineItems" xlink:label="StatementLineItems" xlink:title="StatementLineItems" />
    <link:label xlink:type="resource" xlink:label="us-gaap_StatementLineItems_lbl" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="us-gaap_StatementLineItems_lbl" xml:lang="en-US" id="us-gaap_StatementLineItems_lbl">Statement [Line Items]</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="StatementLineItems" xlink:to="us-gaap_StatementLineItems_lbl" xlink:title="label: StatementLineItems to us-gaap_StatementLineItems_lbl" />
    <link:loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2012/elts/us-gaap-2012-01-31.xsd#us-gaap_StatementOfStockholdersEquityAbstract" xlink:label="StatementOfStockholdersEquityAbstract" xlink:title="StatementOfStockholdersEquityAbstract" />
    <link:label xlink:type="resource" xlink:label="us-gaap_StatementOfStockholdersEquityAbstract_lbl" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="us-gaap_StatementOfStockholdersEquityAbstract_lbl" xml:lang="en-US" id="us-gaap_StatementOfStockholdersEquityAbstract_lbl">CONSOLIDATED STATEMENTS OF EQUITY [Abstract]</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="StatementOfStockholdersEquityAbstract" xlink:to="us-gaap_StatementOfStockholdersEquityAbstract_lbl" xlink:title="label: StatementOfStockholdersEquityAbstract to us-gaap_StatementOfStockholdersEquityAbstract_lbl" />
    <link:loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2012/elts/us-gaap-2012-01-31.xsd#us-gaap_StatementOfCashFlowsAbstract" xlink:label="StatementOfCashFlowsAbstract" xlink:title="StatementOfCashFlowsAbstract" />
    <link:label xlink:type="resource" xlink:label="us-gaap_StatementOfCashFlowsAbstract_lbl" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="us-gaap_StatementOfCashFlowsAbstract_lbl" xml:lang="en-US" id="us-gaap_StatementOfCashFlowsAbstract_lbl">CONSOLIDATED STATEMENTS OF CASH FLOWS [Abstract]</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="StatementOfCashFlowsAbstract" xlink:to="us-gaap_StatementOfCashFlowsAbstract_lbl" xlink:title="label: StatementOfCashFlowsAbstract to us-gaap_StatementOfCashFlowsAbstract_lbl" />
    <link:loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2012/elts/us-gaap-2012-01-31.xsd#us-gaap_StatementBusinessSegmentsAxis" xlink:label="StatementBusinessSegmentsAxis" xlink:title="StatementBusinessSegmentsAxis" />
    <link:label xlink:type="resource" xlink:label="us-gaap_StatementBusinessSegmentsAxis_lbl" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="us-gaap_StatementBusinessSegmentsAxis_lbl" xml:lang="en-US" id="us-gaap_StatementBusinessSegmentsAxis_lbl">Business Segments [Axis]</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="StatementBusinessSegmentsAxis" xlink:to="us-gaap_StatementBusinessSegmentsAxis_lbl" xlink:title="label: StatementBusinessSegmentsAxis to us-gaap_StatementBusinessSegmentsAxis_lbl" />
    <link:loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2012/elts/us-gaap-2012-01-31.xsd#us-gaap_StatementEquityComponentsAxis" xlink:label="StatementEquityComponentsAxis" xlink:title="StatementEquityComponentsAxis" />
    <link:label xlink:type="resource" xlink:label="us-gaap_StatementEquityComponentsAxis_lbl" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="us-gaap_StatementEquityComponentsAxis_lbl" xml:lang="en-US" id="us-gaap_StatementEquityComponentsAxis_lbl">Statement, Equity Components [Axis]</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="StatementEquityComponentsAxis" xlink:to="us-gaap_StatementEquityComponentsAxis_lbl" xlink:title="label: StatementEquityComponentsAxis to us-gaap_StatementEquityComponentsAxis_lbl" />
    <link:loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2012/elts/us-gaap-2012-01-31.xsd#us-gaap_StatementOfFinancialPositionAbstract" xlink:label="StatementOfFinancialPositionAbstract" xlink:title="StatementOfFinancialPositionAbstract" />
    <link:label xlink:type="resource" xlink:label="us-gaap_StatementOfFinancialPositionAbstract_lbl" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="us-gaap_StatementOfFinancialPositionAbstract_lbl" xml:lang="en-US" id="us-gaap_StatementOfFinancialPositionAbstract_lbl">CONDENSED CONSOLIDATED BALANCE SHEETS (unaudited) [Abstract]</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="StatementOfFinancialPositionAbstract" xlink:to="us-gaap_StatementOfFinancialPositionAbstract_lbl" xlink:title="label: StatementOfFinancialPositionAbstract to us-gaap_StatementOfFinancialPositionAbstract_lbl" />
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    <link:label xlink:type="resource" xlink:label="us-gaap_StatementClassOfStockAxis_lbl" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="us-gaap_StatementClassOfStockAxis_lbl" xml:lang="en-US" id="us-gaap_StatementClassOfStockAxis_lbl">Class of Stock [Axis]</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="StatementClassOfStockAxis" xlink:to="us-gaap_StatementClassOfStockAxis_lbl" xlink:title="label: StatementClassOfStockAxis to us-gaap_StatementClassOfStockAxis_lbl" />
    <link:loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2012/elts/us-gaap-2012-01-31.xsd#us-gaap_StockIssuedDuringPeriodValueDividendReinvestmentPlan" xlink:label="StockIssuedDuringPeriodValueDividendReinvestmentPlan" xlink:title="StockIssuedDuringPeriodValueDividendReinvestmentPlan" />
    <link:label xlink:type="resource" xlink:label="us-gaap_StockIssuedDuringPeriodValueDividendReinvestmentPlan_lbl" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:title="us-gaap_StockIssuedDuringPeriodValueDividendReinvestmentPlan_lbl" xml:lang="en-US" id="us-gaap_StockIssuedDuringPeriodValueDividendReinvestmentPlan_lbl">Distribution reinvestment and share purchase plan</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="StockIssuedDuringPeriodValueDividendReinvestmentPlan" xlink:to="us-gaap_StockIssuedDuringPeriodValueDividendReinvestmentPlan_lbl" xlink:title="label: StockIssuedDuringPeriodValueDividendReinvestmentPlan to us-gaap_StockIssuedDuringPeriodValueDividendReinvestmentPlan_lbl" />
    <link:label xlink:type="resource" xlink:label="us-gaap_StockIssuedDuringPeriodValueDividendReinvestmentPlan_lbl1" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="us-gaap_StockIssuedDuringPeriodValueDividendReinvestmentPlan_lbl1" xml:lang="en-US" id="us-gaap_StockIssuedDuringPeriodValueDividendReinvestmentPlan_lbl1">Stock Issued During Period, Value, Dividend Reinvestment Plan</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="StockIssuedDuringPeriodValueDividendReinvestmentPlan" xlink:to="us-gaap_StockIssuedDuringPeriodValueDividendReinvestmentPlan_lbl1" xlink:title="label: StockIssuedDuringPeriodValueDividendReinvestmentPlan to us-gaap_StockIssuedDuringPeriodValueDividendReinvestmentPlan_lbl1" />
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    <link:label xlink:type="resource" xlink:label="us-gaap_StockIssuedDuringPeriodSharesDividendReinvestmentPlan_lbl" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="us-gaap_StockIssuedDuringPeriodSharesDividendReinvestmentPlan_lbl" xml:lang="en-US" id="us-gaap_StockIssuedDuringPeriodSharesDividendReinvestmentPlan_lbl">Distribution reinvestment and share purchase plan (in shares)</link:label>
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    <link:loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2012/elts/us-gaap-2012-01-31.xsd#us-gaap_StockIssuedDuringPeriodValueNewIssues" xlink:label="StockIssuedDuringPeriodValueNewIssues" xlink:title="StockIssuedDuringPeriodValueNewIssues" />
    <link:label xlink:type="resource" xlink:label="us-gaap_StockIssuedDuringPeriodValueNewIssues_lbl" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="us-gaap_StockIssuedDuringPeriodValueNewIssues_lbl" xml:lang="en-US" id="us-gaap_StockIssuedDuringPeriodValueNewIssues_lbl">Shares issued</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="StockIssuedDuringPeriodValueNewIssues" xlink:to="us-gaap_StockIssuedDuringPeriodValueNewIssues_lbl" xlink:title="label: StockIssuedDuringPeriodValueNewIssues to us-gaap_StockIssuedDuringPeriodValueNewIssues_lbl" />
    <link:loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2012/elts/us-gaap-2012-01-31.xsd#us-gaap_StockIssuedDuringPeriodSharesNewIssues" xlink:label="StockIssuedDuringPeriodSharesNewIssues" xlink:title="StockIssuedDuringPeriodSharesNewIssues" />
    <link:label xlink:type="resource" xlink:label="us-gaap_StockIssuedDuringPeriodSharesNewIssues_lbl" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="us-gaap_StockIssuedDuringPeriodSharesNewIssues_lbl" xml:lang="en-US" id="us-gaap_StockIssuedDuringPeriodSharesNewIssues_lbl">Shares issued, shares (in shares)</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="StockIssuedDuringPeriodSharesNewIssues" xlink:to="us-gaap_StockIssuedDuringPeriodSharesNewIssues_lbl" xlink:title="label: StockIssuedDuringPeriodSharesNewIssues to us-gaap_StockIssuedDuringPeriodSharesNewIssues_lbl" />
    <link:loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2012/elts/us-gaap-2012-01-31.xsd#us-gaap_StockIssuedDuringPeriodValueEmployeeStockPurchasePlan" xlink:label="StockIssuedDuringPeriodValueEmployeeStockPurchasePlan" xlink:title="StockIssuedDuringPeriodValueEmployeeStockPurchasePlan" />
    <link:label xlink:type="resource" xlink:label="us-gaap_StockIssuedDuringPeriodValueEmployeeStockPurchasePlan_lbl" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:title="us-gaap_StockIssuedDuringPeriodValueEmployeeStockPurchasePlan_lbl" xml:lang="en-US" id="us-gaap_StockIssuedDuringPeriodValueEmployeeStockPurchasePlan_lbl">Value of common shares issued under 2008 Incentive Plan Award</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="StockIssuedDuringPeriodValueEmployeeStockPurchasePlan" xlink:to="us-gaap_StockIssuedDuringPeriodValueEmployeeStockPurchasePlan_lbl" xlink:title="label: StockIssuedDuringPeriodValueEmployeeStockPurchasePlan to us-gaap_StockIssuedDuringPeriodValueEmployeeStockPurchasePlan_lbl" />
    <link:label xlink:type="resource" xlink:label="us-gaap_StockIssuedDuringPeriodValueEmployeeStockPurchasePlan_lbl1" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="us-gaap_StockIssuedDuringPeriodValueEmployeeStockPurchasePlan_lbl1" xml:lang="en-US" id="us-gaap_StockIssuedDuringPeriodValueEmployeeStockPurchasePlan_lbl1">Stock Issued During Period, Value, Employee Stock Purchase Plan</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="StockIssuedDuringPeriodValueEmployeeStockPurchasePlan" xlink:to="us-gaap_StockIssuedDuringPeriodValueEmployeeStockPurchasePlan_lbl1" xlink:title="label: StockIssuedDuringPeriodValueEmployeeStockPurchasePlan to us-gaap_StockIssuedDuringPeriodValueEmployeeStockPurchasePlan_lbl1" />
    <link:loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2012/elts/us-gaap-2012-01-31.xsd#us-gaap_StockIssuedDuringPeriodSharesEmployeeStockPurchasePlans" xlink:label="StockIssuedDuringPeriodSharesEmployeeStockPurchasePlans" xlink:title="StockIssuedDuringPeriodSharesEmployeeStockPurchasePlans" />
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    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="StockIssuedDuringPeriodSharesEmployeeStockPurchasePlans" xlink:to="us-gaap_StockIssuedDuringPeriodSharesEmployeeStockPurchasePlans_lbl" xlink:title="label: StockIssuedDuringPeriodSharesEmployeeStockPurchasePlans to us-gaap_StockIssuedDuringPeriodSharesEmployeeStockPurchasePlans_lbl" />
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    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="StockIssuedDuringPeriodSharesEmployeeStockPurchasePlans" xlink:to="us-gaap_StockIssuedDuringPeriodSharesEmployeeStockPurchasePlans_lbl1" xlink:title="label: StockIssuedDuringPeriodSharesEmployeeStockPurchasePlans to us-gaap_StockIssuedDuringPeriodSharesEmployeeStockPurchasePlans_lbl1" />
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    <link:label xlink:type="resource" xlink:label="us-gaap_StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest_lbl1" xlink:role="http://www.xbrl.org/2003/role/periodStartLabel" xlink:title="us-gaap_StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest_lbl1" xml:lang="en-US" id="us-gaap_StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest_lbl1">Balance</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest" xlink:to="us-gaap_StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest_lbl1" xlink:title="label: StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest to us-gaap_StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest_lbl1" />
    <link:label xlink:type="resource" xlink:label="us-gaap_StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest_lbl2" xlink:role="http://www.xbrl.org/2003/role/periodEndLabel" xlink:title="us-gaap_StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest_lbl2" xml:lang="en-US" id="us-gaap_StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest_lbl2">Balance</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest" xlink:to="us-gaap_StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest_lbl2" xlink:title="label: StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest to us-gaap_StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest_lbl2" />
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    <link:loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2012/elts/us-gaap-2012-01-31.xsd#us-gaap_StockholdersEquityAbstract" xlink:label="StockholdersEquityAbstract" xlink:title="StockholdersEquityAbstract" />
    <link:label xlink:type="resource" xlink:label="us-gaap_StockholdersEquityAbstract_lbl" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="us-gaap_StockholdersEquityAbstract_lbl" xml:lang="en-US" id="us-gaap_StockholdersEquityAbstract_lbl">Investors Real Estate Trust shareholders' equity</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="StockholdersEquityAbstract" xlink:to="us-gaap_StockholdersEquityAbstract_lbl" xlink:title="label: StockholdersEquityAbstract to us-gaap_StockholdersEquityAbstract_lbl" />
    <link:loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2012/elts/us-gaap-2012-01-31.xsd#us-gaap_StockholdersEquity" xlink:label="StockholdersEquity" xlink:title="StockholdersEquity" />
    <link:label xlink:type="resource" xlink:label="us-gaap_StockholdersEquity_lbl" xlink:role="http://www.xbrl.org/2003/role/totalLabel" xlink:title="us-gaap_StockholdersEquity_lbl" xml:lang="en-US" id="us-gaap_StockholdersEquity_lbl">Total Investors Real Estate Trust shareholders' equity</link:label>
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    <link:label xlink:type="resource" xlink:label="us-gaap_StockholdersEquity_lbl1" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="us-gaap_StockholdersEquity_lbl1" xml:lang="en-US" id="us-gaap_StockholdersEquity_lbl1">Stockholders' Equity Attributable to Parent</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="StockholdersEquity" xlink:to="us-gaap_StockholdersEquity_lbl1" xlink:title="label: StockholdersEquity to us-gaap_StockholdersEquity_lbl1" />
    <link:loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2012/elts/us-gaap-2012-01-31.xsd#us-gaap_StockholdersEquityNoteDisclosureTextBlock" xlink:label="StockholdersEquityNoteDisclosureTextBlock" xlink:title="StockholdersEquityNoteDisclosureTextBlock" />
    <link:label xlink:type="resource" xlink:label="us-gaap_StockholdersEquityNoteDisclosureTextBlock_lbl" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:title="us-gaap_StockholdersEquityNoteDisclosureTextBlock_lbl" xml:lang="en-US" id="us-gaap_StockholdersEquityNoteDisclosureTextBlock_lbl">EQUITY</link:label>
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    <link:label xlink:type="resource" xlink:label="us-gaap_StockholdersEquityNoteDisclosureTextBlock_lbl1" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="us-gaap_StockholdersEquityNoteDisclosureTextBlock_lbl1" xml:lang="en-US" id="us-gaap_StockholdersEquityNoteDisclosureTextBlock_lbl1">Stockholders' Equity Note Disclosure [Text Block]</link:label>
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    <link:label xlink:type="resource" xlink:label="us-gaap_SubsequentEventsAbstract_lbl" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="us-gaap_SubsequentEventsAbstract_lbl" xml:lang="en-US" id="us-gaap_SubsequentEventsAbstract_lbl">SUBSEQUENT EVENTS [Abstract]</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="SubsequentEventsAbstract" xlink:to="us-gaap_SubsequentEventsAbstract_lbl" xlink:title="label: SubsequentEventsAbstract to us-gaap_SubsequentEventsAbstract_lbl" />
    <link:loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2012/elts/us-gaap-2012-01-31.xsd#us-gaap_SubsequentEventTypeDomain" xlink:label="SubsequentEventTypeDomain" xlink:title="SubsequentEventTypeDomain" />
    <link:label xlink:type="resource" xlink:label="us-gaap_SubsequentEventTypeDomain_lbl" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="us-gaap_SubsequentEventTypeDomain_lbl" xml:lang="en-US" id="us-gaap_SubsequentEventTypeDomain_lbl">Subsequent Event Type [Domain]</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="SubsequentEventTypeDomain" xlink:to="us-gaap_SubsequentEventTypeDomain_lbl" xlink:title="label: SubsequentEventTypeDomain to us-gaap_SubsequentEventTypeDomain_lbl" />
    <link:loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2012/elts/us-gaap-2012-01-31.xsd#us-gaap_SubsequentEventLineItems" xlink:label="SubsequentEventLineItems" xlink:title="SubsequentEventLineItems" />
    <link:label xlink:type="resource" xlink:label="us-gaap_SubsequentEventLineItems_lbl" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="us-gaap_SubsequentEventLineItems_lbl" xml:lang="en-US" id="us-gaap_SubsequentEventLineItems_lbl">Subsequent Event [Line Items]</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="SubsequentEventLineItems" xlink:to="us-gaap_SubsequentEventLineItems_lbl" xlink:title="label: SubsequentEventLineItems to us-gaap_SubsequentEventLineItems_lbl" />
    <link:loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2012/elts/us-gaap-2012-01-31.xsd#us-gaap_SubsequentEventTypeAxis" xlink:label="SubsequentEventTypeAxis" xlink:title="SubsequentEventTypeAxis" />
    <link:label xlink:type="resource" xlink:label="us-gaap_SubsequentEventTypeAxis_lbl" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="us-gaap_SubsequentEventTypeAxis_lbl" xml:lang="en-US" id="us-gaap_SubsequentEventTypeAxis_lbl">Subsequent Event Type [Axis]</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="SubsequentEventTypeAxis" xlink:to="us-gaap_SubsequentEventTypeAxis_lbl" xlink:title="label: SubsequentEventTypeAxis to us-gaap_SubsequentEventTypeAxis_lbl" />
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    <link:label xlink:type="resource" xlink:label="us-gaap_SubsequentEventTable_lbl" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="us-gaap_SubsequentEventTable_lbl" xml:lang="en-US" id="us-gaap_SubsequentEventTable_lbl">Subsequent Event [Table]</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="SubsequentEventTable" xlink:to="us-gaap_SubsequentEventTable_lbl" xlink:title="label: SubsequentEventTable to us-gaap_SubsequentEventTable_lbl" />
    <link:loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2012/elts/us-gaap-2012-01-31.xsd#us-gaap_SubsequentEventMember" xlink:label="SubsequentEventMember" xlink:title="SubsequentEventMember" />
    <link:label xlink:type="resource" xlink:label="us-gaap_SubsequentEventMember_lbl" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="us-gaap_SubsequentEventMember_lbl" xml:lang="en-US" id="us-gaap_SubsequentEventMember_lbl">Subsequent Event [Member]</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="SubsequentEventMember" xlink:to="us-gaap_SubsequentEventMember_lbl" xlink:title="label: SubsequentEventMember to us-gaap_SubsequentEventMember_lbl" />
    <link:loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2012/elts/us-gaap-2012-01-31.xsd#us-gaap_SupplementalCashFlowInformationAbstract" xlink:label="SupplementalCashFlowInformationAbstract" xlink:title="SupplementalCashFlowInformationAbstract" />
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    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="SupplementalCashFlowInformationAbstract" xlink:to="us-gaap_SupplementalCashFlowInformationAbstract_lbl1" xlink:title="label: SupplementalCashFlowInformationAbstract to us-gaap_SupplementalCashFlowInformationAbstract_lbl1" />
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    <link:label xlink:type="resource" xlink:label="us-gaap_TemporaryEquityDisclosureAbstract_lbl" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="us-gaap_TemporaryEquityDisclosureAbstract_lbl" xml:lang="en-US" id="us-gaap_TemporaryEquityDisclosureAbstract_lbl">REDEEMABLE NONCONTROLLING INTERESTS [Abstract]</link:label>
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    <link:loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2012/elts/us-gaap-2012-01-31.xsd#us-gaap_TemporaryEquityRedemptionValue" xlink:label="TemporaryEquityRedemptionValue" xlink:title="TemporaryEquityRedemptionValue" />
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    <link:label xlink:type="resource" xlink:label="us-gaap_TemporaryEquityRedemptionValue_lbl1" xlink:role="http://www.xbrl.org/2003/role/periodStartLabel" xlink:title="us-gaap_TemporaryEquityRedemptionValue_lbl1" xml:lang="en-US" id="us-gaap_TemporaryEquityRedemptionValue_lbl1">Balance at April 30</link:label>
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    <link:label xlink:type="resource" xlink:label="us-gaap_TenantReimbursements_lbl" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="us-gaap_TenantReimbursements_lbl" xml:lang="en-US" id="us-gaap_TenantReimbursements_lbl">Tenant reimbursement</link:label>
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    <link:label xlink:type="resource" xlink:label="us-gaap_TransferOfInvestments_lbl" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="us-gaap_TransferOfInvestments_lbl" xml:lang="en-US" id="us-gaap_TransferOfInvestments_lbl">Involuntary conversion of assets due to flood and fire damage</link:label>
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    <link:loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2012/elts/us-gaap-2012-01-31.xsd#us-gaap_TransferMortgagePayable" xlink:label="TransferMortgagePayable" xlink:title="TransferMortgagePayable" />
    <link:label xlink:type="resource" xlink:label="us-gaap_TransferMortgagePayable_lbl" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="us-gaap_TransferMortgagePayable_lbl" xml:lang="en-US" id="us-gaap_TransferMortgagePayable_lbl">Construction debt reclassified to mortgages payable</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="TransferMortgagePayable" xlink:to="us-gaap_TransferMortgagePayable_lbl" xlink:title="label: TransferMortgagePayable to us-gaap_TransferMortgagePayable_lbl" />
    <link:loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2012/elts/us-gaap-2012-01-31.xsd#us-gaap_TrusteeFees" xlink:label="TrusteeFees" xlink:title="TrusteeFees" />
    <link:label xlink:type="resource" xlink:label="us-gaap_TrusteeFees_lbl" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="us-gaap_TrusteeFees_lbl" xml:lang="en-US" id="us-gaap_TrusteeFees_lbl">Advisory and trustee services</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="TrusteeFees" xlink:to="us-gaap_TrusteeFees_lbl" xlink:title="label: TrusteeFees to us-gaap_TrusteeFees_lbl" />
    <link:loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2012/elts/us-gaap-2012-01-31.xsd#us-gaap_UseOfEstimates" xlink:label="UseOfEstimates" xlink:title="UseOfEstimates" />
    <link:label xlink:type="resource" xlink:label="us-gaap_UseOfEstimates_lbl" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="us-gaap_UseOfEstimates_lbl" xml:lang="en-US" id="us-gaap_UseOfEstimates_lbl">USE OF ESTIMATES</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="UseOfEstimates" xlink:to="us-gaap_UseOfEstimates_lbl" xlink:title="label: UseOfEstimates to us-gaap_UseOfEstimates_lbl" />
    <link:loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2012/elts/us-gaap-2012-01-31.xsd#us-gaap_WeightedAverageNumberOfSharesOutstandingAbstract" xlink:label="WeightedAverageNumberOfSharesOutstandingAbstract" xlink:title="WeightedAverageNumberOfSharesOutstandingAbstract" />
    <link:label xlink:type="resource" xlink:label="us-gaap_WeightedAverageNumberOfSharesOutstandingAbstract_lbl" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="us-gaap_WeightedAverageNumberOfSharesOutstandingAbstract_lbl" xml:lang="en-US" id="us-gaap_WeightedAverageNumberOfSharesOutstandingAbstract_lbl">DENOMINATOR [Abstract]</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="WeightedAverageNumberOfSharesOutstandingAbstract" xlink:to="us-gaap_WeightedAverageNumberOfSharesOutstandingAbstract_lbl" xlink:title="label: WeightedAverageNumberOfSharesOutstandingAbstract to us-gaap_WeightedAverageNumberOfSharesOutstandingAbstract_lbl" />
    <link:loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2012/elts/us-gaap-2012-01-31.xsd#us-gaap_WeightedAverageNumberOfSharesOutstandingBasic" xlink:label="WeightedAverageNumberOfSharesOutstandingBasic" xlink:title="WeightedAverageNumberOfSharesOutstandingBasic" />
    <link:label xlink:type="resource" xlink:label="us-gaap_WeightedAverageNumberOfSharesOutstandingBasic_lbl" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:title="us-gaap_WeightedAverageNumberOfSharesOutstandingBasic_lbl" xml:lang="en-US" id="us-gaap_WeightedAverageNumberOfSharesOutstandingBasic_lbl">Denominator for basic earnings per share weighted average shares</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="WeightedAverageNumberOfSharesOutstandingBasic" xlink:to="us-gaap_WeightedAverageNumberOfSharesOutstandingBasic_lbl" xlink:title="label: WeightedAverageNumberOfSharesOutstandingBasic to us-gaap_WeightedAverageNumberOfSharesOutstandingBasic_lbl" />
    <link:label xlink:type="resource" xlink:label="us-gaap_WeightedAverageNumberOfSharesOutstandingBasic_lbl1" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="us-gaap_WeightedAverageNumberOfSharesOutstandingBasic_lbl1" xml:lang="en-US" id="us-gaap_WeightedAverageNumberOfSharesOutstandingBasic_lbl1">Weighted Average Number of Shares Outstanding, Basic</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="WeightedAverageNumberOfSharesOutstandingBasic" xlink:to="us-gaap_WeightedAverageNumberOfSharesOutstandingBasic_lbl1" xlink:title="label: WeightedAverageNumberOfSharesOutstandingBasic to us-gaap_WeightedAverageNumberOfSharesOutstandingBasic_lbl1" />
    <link:loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2012/elts/us-gaap-2012-01-31.xsd#us-gaap_WeightedAverageNumberOfDilutedSharesOutstanding" xlink:label="WeightedAverageNumberOfDilutedSharesOutstanding" xlink:title="WeightedAverageNumberOfDilutedSharesOutstanding" />
    <link:label xlink:type="resource" xlink:label="us-gaap_WeightedAverageNumberOfDilutedSharesOutstanding_lbl" xlink:role="http://www.xbrl.org/2003/role/totalLabel" xlink:title="us-gaap_WeightedAverageNumberOfDilutedSharesOutstanding_lbl" xml:lang="en-US" id="us-gaap_WeightedAverageNumberOfDilutedSharesOutstanding_lbl">Denominator for diluted earnings per share</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="WeightedAverageNumberOfDilutedSharesOutstanding" xlink:to="us-gaap_WeightedAverageNumberOfDilutedSharesOutstanding_lbl" xlink:title="label: WeightedAverageNumberOfDilutedSharesOutstanding to us-gaap_WeightedAverageNumberOfDilutedSharesOutstanding_lbl" />
    <link:label xlink:type="resource" xlink:label="us-gaap_WeightedAverageNumberOfDilutedSharesOutstanding_lbl1" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="us-gaap_WeightedAverageNumberOfDilutedSharesOutstanding_lbl1" xml:lang="en-US" id="us-gaap_WeightedAverageNumberOfDilutedSharesOutstanding_lbl1">Weighted Average Number of Shares Outstanding, Diluted</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="WeightedAverageNumberOfDilutedSharesOutstanding" xlink:to="us-gaap_WeightedAverageNumberOfDilutedSharesOutstanding_lbl1" xlink:title="label: WeightedAverageNumberOfDilutedSharesOutstanding to us-gaap_WeightedAverageNumberOfDilutedSharesOutstanding_lbl1" />
    <link:loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2012/elts/us-gaap-2012-01-31.xsd#us-gaap_WeightedAverageNumberDilutedSharesOutstandingAdjustment" xlink:label="WeightedAverageNumberDilutedSharesOutstandingAdjustment" xlink:title="WeightedAverageNumberDilutedSharesOutstandingAdjustment" />
    <link:label xlink:type="resource" xlink:label="us-gaap_WeightedAverageNumberDilutedSharesOutstandingAdjustment_lbl" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:title="us-gaap_WeightedAverageNumberDilutedSharesOutstandingAdjustment_lbl" xml:lang="en-US" id="us-gaap_WeightedAverageNumberDilutedSharesOutstandingAdjustment_lbl">Effect of convertible operating partnership units</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="WeightedAverageNumberDilutedSharesOutstandingAdjustment" xlink:to="us-gaap_WeightedAverageNumberDilutedSharesOutstandingAdjustment_lbl" xlink:title="label: WeightedAverageNumberDilutedSharesOutstandingAdjustment to us-gaap_WeightedAverageNumberDilutedSharesOutstandingAdjustment_lbl" />
    <link:label xlink:type="resource" xlink:label="us-gaap_WeightedAverageNumberDilutedSharesOutstandingAdjustment_lbl1" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="us-gaap_WeightedAverageNumberDilutedSharesOutstandingAdjustment_lbl1" xml:lang="en-US" id="us-gaap_WeightedAverageNumberDilutedSharesOutstandingAdjustment_lbl1">Weighted Average Number Diluted Shares Outstanding Adjustment</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="WeightedAverageNumberDilutedSharesOutstandingAdjustment" xlink:to="us-gaap_WeightedAverageNumberDilutedSharesOutstandingAdjustment_lbl1" xlink:title="label: WeightedAverageNumberDilutedSharesOutstandingAdjustment to us-gaap_WeightedAverageNumberDilutedSharesOutstandingAdjustment_lbl1" />
    <link:loc xlink:type="locator" xlink:href="iret-20130131.xsd#iret_DocumentAndEntityInformationAbstract" xlink:label="DocumentAndEntityInformationAbstract" xlink:title="DocumentAndEntityInformationAbstract" />
    <link:label xlink:type="resource" xlink:label="iret_DocumentAndEntityInformationAbstract_lbl1" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="iret_DocumentAndEntityInformationAbstract_lbl1" xml:lang="en-US" id="iret_DocumentAndEntityInformationAbstract_lbl1">Document and Entity Information [Abstract]</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="DocumentAndEntityInformationAbstract" xlink:to="iret_DocumentAndEntityInformationAbstract_lbl1" xlink:title="label: DocumentAndEntityInformationAbstract to iret_DocumentAndEntityInformationAbstract_lbl1" />
    <link:loc xlink:type="locator" xlink:href="iret-20130131.xsd#iret_NoncontrollingInterestsOperatingPartnershipUnits" xlink:label="NoncontrollingInterestsOperatingPartnershipUnits" xlink:title="NoncontrollingInterestsOperatingPartnershipUnits" />
    <link:label xlink:type="resource" xlink:label="iret_NoncontrollingInterestsOperatingPartnershipUnits_lbl" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:title="iret_NoncontrollingInterestsOperatingPartnershipUnits_lbl" xml:lang="en-US" id="iret_NoncontrollingInterestsOperatingPartnershipUnits_lbl">Number of partnership units held by noncontrolling interests as of the balance sheet date.</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="NoncontrollingInterestsOperatingPartnershipUnits" xlink:to="iret_NoncontrollingInterestsOperatingPartnershipUnits_lbl" xlink:title="label: NoncontrollingInterestsOperatingPartnershipUnits to iret_NoncontrollingInterestsOperatingPartnershipUnits_lbl" />
    <link:label xlink:type="resource" xlink:label="iret_NoncontrollingInterestsOperatingPartnershipUnits_lbl1" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="iret_NoncontrollingInterestsOperatingPartnershipUnits_lbl1" xml:lang="en-US" id="iret_NoncontrollingInterestsOperatingPartnershipUnits_lbl1">Noncontrolling Interests Operating Partnership Units</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="NoncontrollingInterestsOperatingPartnershipUnits" xlink:to="iret_NoncontrollingInterestsOperatingPartnershipUnits_lbl1" xlink:title="label: NoncontrollingInterestsOperatingPartnershipUnits to iret_NoncontrollingInterestsOperatingPartnershipUnits_lbl1" />
    <link:label xlink:type="resource" xlink:label="iret_NoncontrollingInterestsOperatingPartnershipUnits_lbl2" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:title="iret_NoncontrollingInterestsOperatingPartnershipUnits_lbl2" xml:lang="en-US" id="iret_NoncontrollingInterestsOperatingPartnershipUnits_lbl2">Noncontrolling interests - Operating Partnership (in shares)</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="NoncontrollingInterestsOperatingPartnershipUnits" xlink:to="iret_NoncontrollingInterestsOperatingPartnershipUnits_lbl2" xlink:title="label: NoncontrollingInterestsOperatingPartnershipUnits to iret_NoncontrollingInterestsOperatingPartnershipUnits_lbl2" />
    <link:loc xlink:type="locator" xlink:href="iret-20130131.xsd#iret_Utilities" xlink:label="Utilities" xlink:title="Utilities" />
    <link:label xlink:type="resource" xlink:label="iret_Utilities_lbl" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:title="iret_Utilities_lbl" xml:lang="en-US" id="iret_Utilities_lbl">Costs incurred to provide to tenants basic services such as electricity, gas, water, telephone, cable, and internet service.</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="Utilities" xlink:to="iret_Utilities_lbl" xlink:title="label: Utilities to iret_Utilities_lbl" />
    <link:label xlink:type="resource" xlink:label="iret_Utilities_lbl1" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="iret_Utilities_lbl1" xml:lang="en-US" id="iret_Utilities_lbl1">Utilities</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="Utilities" xlink:to="iret_Utilities_lbl1" xlink:title="label: Utilities to iret_Utilities_lbl1" />
    <link:loc xlink:type="locator" xlink:href="iret-20130131.xsd#iret_NetIncomeAttributableToInvestorsRealEstateTrustAndNonredeemableNoncontrollingInterests" xlink:label="NetIncomeAttributableToInvestorsRealEstateTrustAndNonredeemableNoncontrollingInterests" xlink:title="NetIncomeAttributableToInvestorsRealEstateTrustAndNonredeemableNoncontrollingInterests" />
    <link:label xlink:type="resource" xlink:label="iret_NetIncomeAttributableToInvestorsRealEstateTrustAndNonredeemableNoncontrollingInterests_lbl" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:title="iret_NetIncomeAttributableToInvestorsRealEstateTrustAndNonredeemableNoncontrollingInterests_lbl" xml:lang="en-US" id="iret_NetIncomeAttributableToInvestorsRealEstateTrustAndNonredeemableNoncontrollingInterests_lbl">Net income attributable to Investors Real Estate Trust and nonredeemable noncontrolling interests.</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="NetIncomeAttributableToInvestorsRealEstateTrustAndNonredeemableNoncontrollingInterests" xlink:to="iret_NetIncomeAttributableToInvestorsRealEstateTrustAndNonredeemableNoncontrollingInterests_lbl" xlink:title="label: NetIncomeAttributableToInvestorsRealEstateTrustAndNonredeemableNoncontrollingInterests to iret_NetIncomeAttributableToInvestorsRealEstateTrustAndNonredeemableNoncontrollingInterests_lbl" />
    <link:label xlink:type="resource" xlink:label="iret_NetIncomeAttributableToInvestorsRealEstateTrustAndNonredeemableNoncontrollingInterests_lbl1" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="iret_NetIncomeAttributableToInvestorsRealEstateTrustAndNonredeemableNoncontrollingInterests_lbl1" xml:lang="en-US" id="iret_NetIncomeAttributableToInvestorsRealEstateTrustAndNonredeemableNoncontrollingInterests_lbl1">Net income attributable to Investors Real Estate Trust and nonredeemable noncontrolling interests</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="NetIncomeAttributableToInvestorsRealEstateTrustAndNonredeemableNoncontrollingInterests" xlink:to="iret_NetIncomeAttributableToInvestorsRealEstateTrustAndNonredeemableNoncontrollingInterests_lbl1" xlink:title="label: NetIncomeAttributableToInvestorsRealEstateTrustAndNonredeemableNoncontrollingInterests to iret_NetIncomeAttributableToInvestorsRealEstateTrustAndNonredeemableNoncontrollingInterests_lbl1" />
    <link:loc xlink:type="locator" xlink:href="iret-20130131.xsd#iret_PartnershipUnitsIssued" xlink:label="PartnershipUnitsIssued" xlink:title="PartnershipUnitsIssued" />
    <link:label xlink:type="resource" xlink:label="iret_PartnershipUnitsIssued_lbl" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:title="iret_PartnershipUnitsIssued_lbl" xml:lang="en-US" id="iret_PartnershipUnitsIssued_lbl">The value of partnership units issued during the period.</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="PartnershipUnitsIssued" xlink:to="iret_PartnershipUnitsIssued_lbl" xlink:title="label: PartnershipUnitsIssued to iret_PartnershipUnitsIssued_lbl" />
    <link:label xlink:type="resource" xlink:label="iret_PartnershipUnitsIssued_lbl1" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="iret_PartnershipUnitsIssued_lbl1" xml:lang="en-US" id="iret_PartnershipUnitsIssued_lbl1">Partnership Units Issued</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="PartnershipUnitsIssued" xlink:to="iret_PartnershipUnitsIssued_lbl1" xlink:title="label: PartnershipUnitsIssued to iret_PartnershipUnitsIssued_lbl1" />
    <link:label xlink:type="resource" xlink:label="iret_PartnershipUnitsIssued_lbl2" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:title="iret_PartnershipUnitsIssued_lbl2" xml:lang="en-US" id="iret_PartnershipUnitsIssued_lbl2">Partnership units issued</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="PartnershipUnitsIssued" xlink:to="iret_PartnershipUnitsIssued_lbl2" xlink:title="label: PartnershipUnitsIssued to iret_PartnershipUnitsIssued_lbl2" />
    <link:loc xlink:type="locator" xlink:href="iret-20130131.xsd#iret_OtherShares" xlink:label="OtherShares" xlink:title="OtherShares" />
    <link:label xlink:type="resource" xlink:label="iret_OtherShares_lbl" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:title="iret_OtherShares_lbl" xml:lang="en-US" id="iret_OtherShares_lbl">This element represents movements included in the statement of changes in stockholders' equity which are not separately disclosed or provided for elsewhere in the taxonomy, in number of shares.</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="OtherShares" xlink:to="iret_OtherShares_lbl" xlink:title="label: OtherShares to iret_OtherShares_lbl" />
    <link:label xlink:type="resource" xlink:label="iret_OtherShares_lbl1" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="iret_OtherShares_lbl1" xml:lang="en-US" id="iret_OtherShares_lbl1">Other, shares</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="OtherShares" xlink:to="iret_OtherShares_lbl1" xlink:title="label: OtherShares to iret_OtherShares_lbl1" />
    <link:label xlink:type="resource" xlink:label="iret_OtherShares_lbl2" xlink:role="http://www.xbrl.org/2009/role/negatedLabel" xlink:title="iret_OtherShares_lbl2" xml:lang="en-US" id="iret_OtherShares_lbl2">Other, shares (in shares)</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="OtherShares" xlink:to="iret_OtherShares_lbl2" xlink:title="label: OtherShares to iret_OtherShares_lbl2" />
    <link:loc xlink:type="locator" xlink:href="iret-20130131.xsd#iret_DonationOfRealEstateInvestments" xlink:label="DonationOfRealEstateInvestments" xlink:title="DonationOfRealEstateInvestments" />
    <link:label xlink:type="resource" xlink:label="iret_DonationOfRealEstateInvestments_lbl" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:title="iret_DonationOfRealEstateInvestments_lbl" xml:lang="en-US" id="iret_DonationOfRealEstateInvestments_lbl">Amount of donation of real estate investments.</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="DonationOfRealEstateInvestments" xlink:to="iret_DonationOfRealEstateInvestments_lbl" xlink:title="label: DonationOfRealEstateInvestments to iret_DonationOfRealEstateInvestments_lbl" />
    <link:label xlink:type="resource" xlink:label="iret_DonationOfRealEstateInvestments_lbl1" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="iret_DonationOfRealEstateInvestments_lbl1" xml:lang="en-US" id="iret_DonationOfRealEstateInvestments_lbl1">Donation Of Real Estate Investments</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="DonationOfRealEstateInvestments" xlink:to="iret_DonationOfRealEstateInvestments_lbl1" xlink:title="label: DonationOfRealEstateInvestments to iret_DonationOfRealEstateInvestments_lbl1" />
    <link:label xlink:type="resource" xlink:label="iret_DonationOfRealEstateInvestments_lbl2" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:title="iret_DonationOfRealEstateInvestments_lbl2" xml:lang="en-US" id="iret_DonationOfRealEstateInvestments_lbl2">Donation of real estate assets</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="DonationOfRealEstateInvestments" xlink:to="iret_DonationOfRealEstateInvestments_lbl2" xlink:title="label: DonationOfRealEstateInvestments to iret_DonationOfRealEstateInvestments_lbl2" />
    <link:loc xlink:type="locator" xlink:href="iret-20130131.xsd#iret_ProceedsFromRealEstateDeposits" xlink:label="ProceedsFromRealEstateDeposits" xlink:title="ProceedsFromRealEstateDeposits" />
    <link:label xlink:type="resource" xlink:label="iret_ProceedsFromRealEstateDeposits_lbl" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:title="iret_ProceedsFromRealEstateDeposits_lbl" xml:lang="en-US" id="iret_ProceedsFromRealEstateDeposits_lbl">The cash inflow associated with the receipt of deposits for real estate investment properties.</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ProceedsFromRealEstateDeposits" xlink:to="iret_ProceedsFromRealEstateDeposits_lbl" xlink:title="label: ProceedsFromRealEstateDeposits to iret_ProceedsFromRealEstateDeposits_lbl" />
    <link:label xlink:type="resource" xlink:label="iret_ProceedsFromRealEstateDeposits_lbl1" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="iret_ProceedsFromRealEstateDeposits_lbl1" xml:lang="en-US" id="iret_ProceedsFromRealEstateDeposits_lbl1">Proceeds From Real Estate Deposits</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ProceedsFromRealEstateDeposits" xlink:to="iret_ProceedsFromRealEstateDeposits_lbl1" xlink:title="label: ProceedsFromRealEstateDeposits to iret_ProceedsFromRealEstateDeposits_lbl1" />
    <link:label xlink:type="resource" xlink:label="iret_ProceedsFromRealEstateDeposits_lbl2" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:title="iret_ProceedsFromRealEstateDeposits_lbl2" xml:lang="en-US" id="iret_ProceedsFromRealEstateDeposits_lbl2">Proceeds from real estate deposits</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ProceedsFromRealEstateDeposits" xlink:to="iret_ProceedsFromRealEstateDeposits_lbl2" xlink:title="label: ProceedsFromRealEstateDeposits to iret_ProceedsFromRealEstateDeposits_lbl2" />
    <link:loc xlink:type="locator" xlink:href="iret-20130131.xsd#iret_PaymentsForRealEstateDeposits" xlink:label="PaymentsForRealEstateDeposits" xlink:title="PaymentsForRealEstateDeposits" />
    <link:label xlink:type="resource" xlink:label="iret_PaymentsForRealEstateDeposits_lbl" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:title="iret_PaymentsForRealEstateDeposits_lbl" xml:lang="en-US" id="iret_PaymentsForRealEstateDeposits_lbl">The cash outflow associated with the payment of deposits for real estate investment properties.</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="PaymentsForRealEstateDeposits" xlink:to="iret_PaymentsForRealEstateDeposits_lbl" xlink:title="label: PaymentsForRealEstateDeposits to iret_PaymentsForRealEstateDeposits_lbl" />
    <link:label xlink:type="resource" xlink:label="iret_PaymentsForRealEstateDeposits_lbl1" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="iret_PaymentsForRealEstateDeposits_lbl1" xml:lang="en-US" id="iret_PaymentsForRealEstateDeposits_lbl1">Payments For Real Estate Deposits</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="PaymentsForRealEstateDeposits" xlink:to="iret_PaymentsForRealEstateDeposits_lbl1" xlink:title="label: PaymentsForRealEstateDeposits to iret_PaymentsForRealEstateDeposits_lbl1" />
    <link:label xlink:type="resource" xlink:label="iret_PaymentsForRealEstateDeposits_lbl2" xlink:role="http://www.xbrl.org/2009/role/negatedLabel" xlink:title="iret_PaymentsForRealEstateDeposits_lbl2" xml:lang="en-US" id="iret_PaymentsForRealEstateDeposits_lbl2">Payments for real estate deposits</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="PaymentsForRealEstateDeposits" xlink:to="iret_PaymentsForRealEstateDeposits_lbl2" xlink:title="label: PaymentsForRealEstateDeposits to iret_PaymentsForRealEstateDeposits_lbl2" />
    <link:loc xlink:type="locator" xlink:href="iret-20130131.xsd#iret_DecreaseInLenderHoldbacksForImprovements" xlink:label="DecreaseInLenderHoldbacksForImprovements" xlink:title="DecreaseInLenderHoldbacksForImprovements" />
    <link:label xlink:type="resource" xlink:label="iret_DecreaseInLenderHoldbacksForImprovements_lbl" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:title="iret_DecreaseInLenderHoldbacksForImprovements_lbl" xml:lang="en-US" id="iret_DecreaseInLenderHoldbacksForImprovements_lbl">The cash inflow associated with the decrease in lender hold backs for improvements.</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="DecreaseInLenderHoldbacksForImprovements" xlink:to="iret_DecreaseInLenderHoldbacksForImprovements_lbl" xlink:title="label: DecreaseInLenderHoldbacksForImprovements to iret_DecreaseInLenderHoldbacksForImprovements_lbl" />
    <link:label xlink:type="resource" xlink:label="iret_DecreaseInLenderHoldbacksForImprovements_lbl1" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="iret_DecreaseInLenderHoldbacksForImprovements_lbl1" xml:lang="en-US" id="iret_DecreaseInLenderHoldbacksForImprovements_lbl1">Decrease In Lender Holdbacks For Improvements</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="DecreaseInLenderHoldbacksForImprovements" xlink:to="iret_DecreaseInLenderHoldbacksForImprovements_lbl1" xlink:title="label: DecreaseInLenderHoldbacksForImprovements to iret_DecreaseInLenderHoldbacksForImprovements_lbl1" />
    <link:label xlink:type="resource" xlink:label="iret_DecreaseInLenderHoldbacksForImprovements_lbl2" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:title="iret_DecreaseInLenderHoldbacksForImprovements_lbl2" xml:lang="en-US" id="iret_DecreaseInLenderHoldbacksForImprovements_lbl2">Decrease in lender holdbacks</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="DecreaseInLenderHoldbacksForImprovements" xlink:to="iret_DecreaseInLenderHoldbacksForImprovements_lbl2" xlink:title="label: DecreaseInLenderHoldbacksForImprovements to iret_DecreaseInLenderHoldbacksForImprovements_lbl2" />
    <link:label xlink:type="resource" xlink:label="iret_DecreaseInLenderHoldbacksForImprovements_lbl3" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:title="iret_DecreaseInLenderHoldbacksForImprovements_lbl3" xml:lang="en-US" id="iret_DecreaseInLenderHoldbacksForImprovements_lbl3">Decrease in lender holdbacks for improvements</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="DecreaseInLenderHoldbacksForImprovements" xlink:to="iret_DecreaseInLenderHoldbacksForImprovements_lbl3" xlink:title="label: DecreaseInLenderHoldbacksForImprovements to iret_DecreaseInLenderHoldbacksForImprovements_lbl3" />
    <link:loc xlink:type="locator" xlink:href="iret-20130131.xsd#iret_IncreaseLenderHoldbacksForImprovements" xlink:label="IncreaseLenderHoldbacksForImprovements" xlink:title="IncreaseLenderHoldbacksForImprovements" />
    <link:label xlink:type="resource" xlink:label="iret_IncreaseLenderHoldbacksForImprovements_lbl" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:title="iret_IncreaseLenderHoldbacksForImprovements_lbl" xml:lang="en-US" id="iret_IncreaseLenderHoldbacksForImprovements_lbl">The cash outflow associated with the increase in lender hold backs for improvements.</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="IncreaseLenderHoldbacksForImprovements" xlink:to="iret_IncreaseLenderHoldbacksForImprovements_lbl" xlink:title="label: IncreaseLenderHoldbacksForImprovements to iret_IncreaseLenderHoldbacksForImprovements_lbl" />
    <link:label xlink:type="resource" xlink:label="iret_IncreaseLenderHoldbacksForImprovements_lbl1" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="iret_IncreaseLenderHoldbacksForImprovements_lbl1" xml:lang="en-US" id="iret_IncreaseLenderHoldbacksForImprovements_lbl1">Increase Lender Holdbacks For Improvements</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="IncreaseLenderHoldbacksForImprovements" xlink:to="iret_IncreaseLenderHoldbacksForImprovements_lbl1" xlink:title="label: IncreaseLenderHoldbacksForImprovements to iret_IncreaseLenderHoldbacksForImprovements_lbl1" />
    <link:label xlink:type="resource" xlink:label="iret_IncreaseLenderHoldbacksForImprovements_lbl2" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:title="iret_IncreaseLenderHoldbacksForImprovements_lbl2" xml:lang="en-US" id="iret_IncreaseLenderHoldbacksForImprovements_lbl2">Increase in lender holdbacks</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="IncreaseLenderHoldbacksForImprovements" xlink:to="iret_IncreaseLenderHoldbacksForImprovements_lbl2" xlink:title="label: IncreaseLenderHoldbacksForImprovements to iret_IncreaseLenderHoldbacksForImprovements_lbl2" />
    <link:label xlink:type="resource" xlink:label="iret_IncreaseLenderHoldbacksForImprovements_lbl3" xlink:role="http://www.xbrl.org/2009/role/negatedLabel" xlink:title="iret_IncreaseLenderHoldbacksForImprovements_lbl3" xml:lang="en-US" id="iret_IncreaseLenderHoldbacksForImprovements_lbl3">Increase in lender holdbacks for improvements</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="IncreaseLenderHoldbacksForImprovements" xlink:to="iret_IncreaseLenderHoldbacksForImprovements_lbl3" xlink:title="label: IncreaseLenderHoldbacksForImprovements to iret_IncreaseLenderHoldbacksForImprovements_lbl3" />
    <link:loc xlink:type="locator" xlink:href="iret-20130131.xsd#iret_ProceedsFromSaleOfRealEstateAndOtherInvestments" xlink:label="ProceedsFromSaleOfRealEstateAndOtherInvestments" xlink:title="ProceedsFromSaleOfRealEstateAndOtherInvestments" />
    <link:label xlink:type="resource" xlink:label="iret_ProceedsFromSaleOfRealEstateAndOtherInvestments_lbl" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:title="iret_ProceedsFromSaleOfRealEstateAndOtherInvestments_lbl" xml:lang="en-US" id="iret_ProceedsFromSaleOfRealEstateAndOtherInvestments_lbl">Cash received for the sale of real estate that is not part of an investing activity during the current period and the cash inflow associated with the sale of other investments not otherwise defined in the taxonomy.</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ProceedsFromSaleOfRealEstateAndOtherInvestments" xlink:to="iret_ProceedsFromSaleOfRealEstateAndOtherInvestments_lbl" xlink:title="label: ProceedsFromSaleOfRealEstateAndOtherInvestments to iret_ProceedsFromSaleOfRealEstateAndOtherInvestments_lbl" />
    <link:label xlink:type="resource" xlink:label="iret_ProceedsFromSaleOfRealEstateAndOtherInvestments_lbl1" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="iret_ProceedsFromSaleOfRealEstateAndOtherInvestments_lbl1" xml:lang="en-US" id="iret_ProceedsFromSaleOfRealEstateAndOtherInvestments_lbl1">Proceeds from sale of real estate and other investments</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ProceedsFromSaleOfRealEstateAndOtherInvestments" xlink:to="iret_ProceedsFromSaleOfRealEstateAndOtherInvestments_lbl1" xlink:title="label: ProceedsFromSaleOfRealEstateAndOtherInvestments to iret_ProceedsFromSaleOfRealEstateAndOtherInvestments_lbl1" />
    <link:loc xlink:type="locator" xlink:href="iret-20130131.xsd#iret_DistributionsPaidToRedeemableNoncontrollingInterestsConsolidatedRealEstateEntities" xlink:label="DistributionsPaidToRedeemableNoncontrollingInterestsConsolidatedRealEstateEntities" xlink:title="DistributionsPaidToRedeemableNoncontrollingInterestsConsolidatedRealEstateEntities" />
    <link:label xlink:type="resource" xlink:label="iret_DistributionsPaidToRedeemableNoncontrollingInterestsConsolidatedRealEstateEntities_lbl" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:title="iret_DistributionsPaidToRedeemableNoncontrollingInterestsConsolidatedRealEstateEntities_lbl" xml:lang="en-US" id="iret_DistributionsPaidToRedeemableNoncontrollingInterestsConsolidatedRealEstateEntities_lbl">Cash outflow in the form of ordinary dividends to redeemable noncontrolling interests, generally out of earnings.</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="DistributionsPaidToRedeemableNoncontrollingInterestsConsolidatedRealEstateEntities" xlink:to="iret_DistributionsPaidToRedeemableNoncontrollingInterestsConsolidatedRealEstateEntities_lbl" xlink:title="label: DistributionsPaidToRedeemableNoncontrollingInterestsConsolidatedRealEstateEntities to iret_DistributionsPaidToRedeemableNoncontrollingInterestsConsolidatedRealEstateEntities_lbl" />
    <link:label xlink:type="resource" xlink:label="iret_DistributionsPaidToRedeemableNoncontrollingInterestsConsolidatedRealEstateEntities_lbl1" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="iret_DistributionsPaidToRedeemableNoncontrollingInterestsConsolidatedRealEstateEntities_lbl1" xml:lang="en-US" id="iret_DistributionsPaidToRedeemableNoncontrollingInterestsConsolidatedRealEstateEntities_lbl1">Distributions Paid To Redeemable Noncontrolling Interests Consolidated Real Estate Entities</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="DistributionsPaidToRedeemableNoncontrollingInterestsConsolidatedRealEstateEntities" xlink:to="iret_DistributionsPaidToRedeemableNoncontrollingInterestsConsolidatedRealEstateEntities_lbl1" xlink:title="label: DistributionsPaidToRedeemableNoncontrollingInterestsConsolidatedRealEstateEntities to iret_DistributionsPaidToRedeemableNoncontrollingInterestsConsolidatedRealEstateEntities_lbl1" />
    <link:label xlink:type="resource" xlink:label="iret_DistributionsPaidToRedeemableNoncontrollingInterestsConsolidatedRealEstateEntities_lbl2" xlink:role="http://www.xbrl.org/2009/role/negatedLabel" xlink:title="iret_DistributionsPaidToRedeemableNoncontrollingInterestsConsolidatedRealEstateEntities_lbl2" xml:lang="en-US" id="iret_DistributionsPaidToRedeemableNoncontrollingInterestsConsolidatedRealEstateEntities_lbl2">Distributions paid to redeemable noncontrolling interests - consolidated real estate entities</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="DistributionsPaidToRedeemableNoncontrollingInterestsConsolidatedRealEstateEntities" xlink:to="iret_DistributionsPaidToRedeemableNoncontrollingInterestsConsolidatedRealEstateEntities_lbl2" xlink:title="label: DistributionsPaidToRedeemableNoncontrollingInterestsConsolidatedRealEstateEntities to iret_DistributionsPaidToRedeemableNoncontrollingInterestsConsolidatedRealEstateEntities_lbl2" />
    <link:loc xlink:type="locator" xlink:href="iret-20130131.xsd#iret_DistributionReinvestmentPlan" xlink:label="DistributionReinvestmentPlan" xlink:title="DistributionReinvestmentPlan" />
    <link:label xlink:type="resource" xlink:label="iret_DistributionReinvestmentPlan_lbl" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:title="iret_DistributionReinvestmentPlan_lbl" xml:lang="en-US" id="iret_DistributionReinvestmentPlan_lbl">The fair value of stock (or units) issued in noncash financing activities related to the entity's distribution reinvestment plan.</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="DistributionReinvestmentPlan" xlink:to="iret_DistributionReinvestmentPlan_lbl" xlink:title="label: DistributionReinvestmentPlan to iret_DistributionReinvestmentPlan_lbl" />
    <link:label xlink:type="resource" xlink:label="iret_DistributionReinvestmentPlan_lbl1" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="iret_DistributionReinvestmentPlan_lbl1" xml:lang="en-US" id="iret_DistributionReinvestmentPlan_lbl1">Distribution Reinvestment Plan</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="DistributionReinvestmentPlan" xlink:to="iret_DistributionReinvestmentPlan_lbl1" xlink:title="label: DistributionReinvestmentPlan to iret_DistributionReinvestmentPlan_lbl1" />
    <link:label xlink:type="resource" xlink:label="iret_DistributionReinvestmentPlan_lbl2" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:title="iret_DistributionReinvestmentPlan_lbl2" xml:lang="en-US" id="iret_DistributionReinvestmentPlan_lbl2">Distribution reinvestment plan</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="DistributionReinvestmentPlan" xlink:to="iret_DistributionReinvestmentPlan_lbl2" xlink:title="label: DistributionReinvestmentPlan to iret_DistributionReinvestmentPlan_lbl2" />
    <link:loc xlink:type="locator" xlink:href="iret-20130131.xsd#iret_OperatingPartnershipDistributionReinvestmentPlan" xlink:label="OperatingPartnershipDistributionReinvestmentPlan" xlink:title="OperatingPartnershipDistributionReinvestmentPlan" />
    <link:label xlink:type="resource" xlink:label="iret_OperatingPartnershipDistributionReinvestmentPlan_lbl" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:title="iret_OperatingPartnershipDistributionReinvestmentPlan_lbl" xml:lang="en-US" id="iret_OperatingPartnershipDistributionReinvestmentPlan_lbl">The fair value of stock (or units) issued in noncash financing activities related to the entity's operating partnership distribution reinvestment plan.</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="OperatingPartnershipDistributionReinvestmentPlan" xlink:to="iret_OperatingPartnershipDistributionReinvestmentPlan_lbl" xlink:title="label: OperatingPartnershipDistributionReinvestmentPlan to iret_OperatingPartnershipDistributionReinvestmentPlan_lbl" />
    <link:label xlink:type="resource" xlink:label="iret_OperatingPartnershipDistributionReinvestmentPlan_lbl1" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="iret_OperatingPartnershipDistributionReinvestmentPlan_lbl1" xml:lang="en-US" id="iret_OperatingPartnershipDistributionReinvestmentPlan_lbl1">Operating partnership distribution reinvestment plan</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="OperatingPartnershipDistributionReinvestmentPlan" xlink:to="iret_OperatingPartnershipDistributionReinvestmentPlan_lbl1" xlink:title="label: OperatingPartnershipDistributionReinvestmentPlan to iret_OperatingPartnershipDistributionReinvestmentPlan_lbl1" />
    <link:loc xlink:type="locator" xlink:href="iret-20130131.xsd#iret_OperatingPartnershipUnitsConvertedToShares" xlink:label="OperatingPartnershipUnitsConvertedToShares" xlink:title="OperatingPartnershipUnitsConvertedToShares" />
    <link:label xlink:type="resource" xlink:label="iret_OperatingPartnershipUnitsConvertedToShares_lbl" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:title="iret_OperatingPartnershipUnitsConvertedToShares_lbl" xml:lang="en-US" id="iret_OperatingPartnershipUnitsConvertedToShares_lbl">The dollar value of the stock converted in a noncash (or part noncash) transaction. Noncash is defined as transactions during a period that do not result in cash receipts or cash payments in the period. "Part noncash" refers to that portion of the transaction not resulting in cash receipts or cash payments in the period.</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="OperatingPartnershipUnitsConvertedToShares" xlink:to="iret_OperatingPartnershipUnitsConvertedToShares_lbl" xlink:title="label: OperatingPartnershipUnitsConvertedToShares to iret_OperatingPartnershipUnitsConvertedToShares_lbl" />
    <link:label xlink:type="resource" xlink:label="iret_OperatingPartnershipUnitsConvertedToShares_lbl1" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="iret_OperatingPartnershipUnitsConvertedToShares_lbl1" xml:lang="en-US" id="iret_OperatingPartnershipUnitsConvertedToShares_lbl1">Operating partnership units converted to shares</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="OperatingPartnershipUnitsConvertedToShares" xlink:to="iret_OperatingPartnershipUnitsConvertedToShares_lbl1" xlink:title="label: OperatingPartnershipUnitsConvertedToShares to iret_OperatingPartnershipUnitsConvertedToShares_lbl1" />
    <link:loc xlink:type="locator" xlink:href="iret-20130131.xsd#iret_AssetsAcquiredThroughIssuanceOfOperatingPartnershipUnits" xlink:label="AssetsAcquiredThroughIssuanceOfOperatingPartnershipUnits" xlink:title="AssetsAcquiredThroughIssuanceOfOperatingPartnershipUnits" />
    <link:label xlink:type="resource" xlink:label="iret_AssetsAcquiredThroughIssuanceOfOperatingPartnershipUnits_lbl" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:title="iret_AssetsAcquiredThroughIssuanceOfOperatingPartnershipUnits_lbl" xml:lang="en-US" id="iret_AssetsAcquiredThroughIssuanceOfOperatingPartnershipUnits_lbl">Assets acquired through issuance of operating partnership units</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="AssetsAcquiredThroughIssuanceOfOperatingPartnershipUnits" xlink:to="iret_AssetsAcquiredThroughIssuanceOfOperatingPartnershipUnits_lbl" xlink:title="label: AssetsAcquiredThroughIssuanceOfOperatingPartnershipUnits to iret_AssetsAcquiredThroughIssuanceOfOperatingPartnershipUnits_lbl" />
    <link:label xlink:type="resource" xlink:label="iret_AssetsAcquiredThroughIssuanceOfOperatingPartnershipUnits_lbl1" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="iret_AssetsAcquiredThroughIssuanceOfOperatingPartnershipUnits_lbl1" xml:lang="en-US" id="iret_AssetsAcquiredThroughIssuanceOfOperatingPartnershipUnits_lbl1">Assets Acquired Through The Issuance Of Operating Partnership Units</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="AssetsAcquiredThroughIssuanceOfOperatingPartnershipUnits" xlink:to="iret_AssetsAcquiredThroughIssuanceOfOperatingPartnershipUnits_lbl1" xlink:title="label: AssetsAcquiredThroughIssuanceOfOperatingPartnershipUnits to iret_AssetsAcquiredThroughIssuanceOfOperatingPartnershipUnits_lbl1" />
    <link:label xlink:type="resource" xlink:label="iret_AssetsAcquiredThroughIssuanceOfOperatingPartnershipUnits_lbl2" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:title="iret_AssetsAcquiredThroughIssuanceOfOperatingPartnershipUnits_lbl2" xml:lang="en-US" id="iret_AssetsAcquiredThroughIssuanceOfOperatingPartnershipUnits_lbl2">Real estate assets acquired through the issuance of operating partnership units</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="AssetsAcquiredThroughIssuanceOfOperatingPartnershipUnits" xlink:to="iret_AssetsAcquiredThroughIssuanceOfOperatingPartnershipUnits_lbl2" xlink:title="label: AssetsAcquiredThroughIssuanceOfOperatingPartnershipUnits to iret_AssetsAcquiredThroughIssuanceOfOperatingPartnershipUnits_lbl2" />
    <link:loc xlink:type="locator" xlink:href="iret-20130131.xsd#iret_AdjustmentsToAccountsPayableIncludedWithinRealEstateInvestments" xlink:label="AdjustmentsToAccountsPayableIncludedWithinRealEstateInvestments" xlink:title="AdjustmentsToAccountsPayableIncludedWithinRealEstateInvestments" />
    <link:label xlink:type="resource" xlink:label="iret_AdjustmentsToAccountsPayableIncludedWithinRealEstateInvestments_lbl" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:title="iret_AdjustmentsToAccountsPayableIncludedWithinRealEstateInvestments_lbl" xml:lang="en-US" id="iret_AdjustmentsToAccountsPayableIncludedWithinRealEstateInvestments_lbl">The dollar amount of assets that an Entity acquires in a noncash (or part noncash) acquisition that are not presented as a separate disclosure or not otherwise listed in the existing taxonomy. Noncash is defined as information about all investing and financing activities of an enterprise during a period that affect recognized assets or liabilities but that do not result in cash receipts or cash payments in the period.</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="AdjustmentsToAccountsPayableIncludedWithinRealEstateInvestments" xlink:to="iret_AdjustmentsToAccountsPayableIncludedWithinRealEstateInvestments_lbl" xlink:title="label: AdjustmentsToAccountsPayableIncludedWithinRealEstateInvestments to iret_AdjustmentsToAccountsPayableIncludedWithinRealEstateInvestments_lbl" />
    <link:label xlink:type="resource" xlink:label="iret_AdjustmentsToAccountsPayableIncludedWithinRealEstateInvestments_lbl1" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="iret_AdjustmentsToAccountsPayableIncludedWithinRealEstateInvestments_lbl1" xml:lang="en-US" id="iret_AdjustmentsToAccountsPayableIncludedWithinRealEstateInvestments_lbl1">Adjustments to accounts payable included within real estate investments</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="AdjustmentsToAccountsPayableIncludedWithinRealEstateInvestments" xlink:to="iret_AdjustmentsToAccountsPayableIncludedWithinRealEstateInvestments_lbl1" xlink:title="label: AdjustmentsToAccountsPayableIncludedWithinRealEstateInvestments to iret_AdjustmentsToAccountsPayableIncludedWithinRealEstateInvestments_lbl1" />
    <link:loc xlink:type="locator" xlink:href="iret-20130131.xsd#iret_AdjustmentsToRedeemableNoncontrollingInterests" xlink:label="AdjustmentsToRedeemableNoncontrollingInterests" xlink:title="AdjustmentsToRedeemableNoncontrollingInterests" />
    <link:label xlink:type="resource" xlink:label="iret_AdjustmentsToRedeemableNoncontrollingInterests_lbl" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:title="iret_AdjustmentsToRedeemableNoncontrollingInterests_lbl" xml:lang="en-US" id="iret_AdjustmentsToRedeemableNoncontrollingInterests_lbl">Dollar value of real estate transferred in noncash transactions during the reporting period.</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="AdjustmentsToRedeemableNoncontrollingInterests" xlink:to="iret_AdjustmentsToRedeemableNoncontrollingInterests_lbl" xlink:title="label: AdjustmentsToRedeemableNoncontrollingInterests to iret_AdjustmentsToRedeemableNoncontrollingInterests_lbl" />
    <link:label xlink:type="resource" xlink:label="iret_AdjustmentsToRedeemableNoncontrollingInterests_lbl1" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="iret_AdjustmentsToRedeemableNoncontrollingInterests_lbl1" xml:lang="en-US" id="iret_AdjustmentsToRedeemableNoncontrollingInterests_lbl1">Adjustments to redeemable noncontrolling interests</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="AdjustmentsToRedeemableNoncontrollingInterests" xlink:to="iret_AdjustmentsToRedeemableNoncontrollingInterests_lbl1" xlink:title="label: AdjustmentsToRedeemableNoncontrollingInterests to iret_AdjustmentsToRedeemableNoncontrollingInterests_lbl1" />
    <link:label xlink:type="resource" xlink:label="iret_AdjustmentsToRedeemableNoncontrollingInterests_lbl2" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:title="iret_AdjustmentsToRedeemableNoncontrollingInterests_lbl2" xml:lang="en-US" id="iret_AdjustmentsToRedeemableNoncontrollingInterests_lbl2">Fair value adjustments to redeemable noncontrolling interests</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="AdjustmentsToRedeemableNoncontrollingInterests" xlink:to="iret_AdjustmentsToRedeemableNoncontrollingInterests_lbl2" xlink:title="label: AdjustmentsToRedeemableNoncontrollingInterests to iret_AdjustmentsToRedeemableNoncontrollingInterests_lbl2" />
    <link:loc xlink:type="locator" xlink:href="iret-20130131.xsd#iret_SupplementalDisclosureOfCashFlowInformationAbstract" xlink:label="SupplementalDisclosureOfCashFlowInformationAbstract" xlink:title="SupplementalDisclosureOfCashFlowInformationAbstract" />
    <link:label xlink:type="resource" xlink:label="iret_SupplementalDisclosureOfCashFlowInformationAbstract_lbl1" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="iret_SupplementalDisclosureOfCashFlowInformationAbstract_lbl1" xml:lang="en-US" id="iret_SupplementalDisclosureOfCashFlowInformationAbstract_lbl1">Supplemental Disclosure of Cash Flow Information [Abstract]</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="SupplementalDisclosureOfCashFlowInformationAbstract" xlink:to="iret_SupplementalDisclosureOfCashFlowInformationAbstract_lbl1" xlink:title="label: SupplementalDisclosureOfCashFlowInformationAbstract to iret_SupplementalDisclosureOfCashFlowInformationAbstract_lbl1" />
    <link:label xlink:type="resource" xlink:label="iret_SupplementalDisclosureOfCashFlowInformationAbstract_lbl2" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:title="iret_SupplementalDisclosureOfCashFlowInformationAbstract_lbl2" xml:lang="en-US" id="iret_SupplementalDisclosureOfCashFlowInformationAbstract_lbl2">SUPPLEMENTARY SCHEDULE OF NON-CASH INVESTING AND FINANCING ACTIVITIES FOR THE PERIOD</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="SupplementalDisclosureOfCashFlowInformationAbstract" xlink:to="iret_SupplementalDisclosureOfCashFlowInformationAbstract_lbl2" xlink:title="label: SupplementalDisclosureOfCashFlowInformationAbstract to iret_SupplementalDisclosureOfCashFlowInformationAbstract_lbl2" />
    <link:loc xlink:type="locator" xlink:href="iret-20130131.xsd#iret_CashPaidDuringYearForAbstract" xlink:label="CashPaidDuringYearForAbstract" xlink:title="CashPaidDuringYearForAbstract" />
    <link:label xlink:type="resource" xlink:label="iret_CashPaidDuringYearForAbstract_lbl1" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="iret_CashPaidDuringYearForAbstract_lbl1" xml:lang="en-US" id="iret_CashPaidDuringYearForAbstract_lbl1">Cash Paid During The Year For [Abstract]</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="CashPaidDuringYearForAbstract" xlink:to="iret_CashPaidDuringYearForAbstract_lbl1" xlink:title="label: CashPaidDuringYearForAbstract to iret_CashPaidDuringYearForAbstract_lbl1" />
    <link:label xlink:type="resource" xlink:label="iret_CashPaidDuringYearForAbstract_lbl2" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:title="iret_CashPaidDuringYearForAbstract_lbl2" xml:lang="en-US" id="iret_CashPaidDuringYearForAbstract_lbl2">Cash paid during the year for:</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="CashPaidDuringYearForAbstract" xlink:to="iret_CashPaidDuringYearForAbstract_lbl2" xlink:title="label: CashPaidDuringYearForAbstract to iret_CashPaidDuringYearForAbstract_lbl2" />
    <link:loc xlink:type="locator" xlink:href="iret-20130131.xsd#iret_InterestOnMortgages" xlink:label="InterestOnMortgages" xlink:title="InterestOnMortgages" />
    <link:label xlink:type="resource" xlink:label="iret_InterestOnMortgages_lbl" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:title="iret_InterestOnMortgages_lbl" xml:lang="en-US" id="iret_InterestOnMortgages_lbl">The amount of cash paid during the current period for interest owed on mortgages</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="InterestOnMortgages" xlink:to="iret_InterestOnMortgages_lbl" xlink:title="label: InterestOnMortgages to iret_InterestOnMortgages_lbl" />
    <link:label xlink:type="resource" xlink:label="iret_InterestOnMortgages_lbl1" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="iret_InterestOnMortgages_lbl1" xml:lang="en-US" id="iret_InterestOnMortgages_lbl1">Interest on mortgages</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="InterestOnMortgages" xlink:to="iret_InterestOnMortgages_lbl1" xlink:title="label: InterestOnMortgages to iret_InterestOnMortgages_lbl1" />
    <link:loc xlink:type="locator" xlink:href="iret-20130131.xsd#iret_InterestOnMarginAccountAndOther" xlink:label="InterestOnMarginAccountAndOther" xlink:title="InterestOnMarginAccountAndOther" />
    <link:label xlink:type="resource" xlink:label="iret_InterestOnMarginAccountAndOther_lbl" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:title="iret_InterestOnMarginAccountAndOther_lbl" xml:lang="en-US" id="iret_InterestOnMarginAccountAndOther_lbl">The amount of cash paid during the current period for interest owed on margin account and other.</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="InterestOnMarginAccountAndOther" xlink:to="iret_InterestOnMarginAccountAndOther_lbl" xlink:title="label: InterestOnMarginAccountAndOther to iret_InterestOnMarginAccountAndOther_lbl" />
    <link:label xlink:type="resource" xlink:label="iret_InterestOnMarginAccountAndOther_lbl1" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="iret_InterestOnMarginAccountAndOther_lbl1" xml:lang="en-US" id="iret_InterestOnMarginAccountAndOther_lbl1">Interest on margin account and other</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="InterestOnMarginAccountAndOther" xlink:to="iret_InterestOnMarginAccountAndOther_lbl1" xlink:title="label: InterestOnMarginAccountAndOther to iret_InterestOnMarginAccountAndOther_lbl1" />
    <link:label xlink:type="resource" xlink:label="iret_InterestOnMarginAccountAndOther_lbl2" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:title="iret_InterestOnMarginAccountAndOther_lbl2" xml:lang="en-US" id="iret_InterestOnMarginAccountAndOther_lbl2">Interest other</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="InterestOnMarginAccountAndOther" xlink:to="iret_InterestOnMarginAccountAndOther_lbl2" xlink:title="label: InterestOnMarginAccountAndOther to iret_InterestOnMarginAccountAndOther_lbl2" />
    <link:loc xlink:type="locator" xlink:href="iret-20130131.xsd#iret_DistributionsPaidToCommonShareholdersReinvestment" xlink:label="DistributionsPaidToCommonShareholdersReinvestment" xlink:title="DistributionsPaidToCommonShareholdersReinvestment" />
    <link:label xlink:type="resource" xlink:label="iret_DistributionsPaidToCommonShareholdersReinvestment_lbl" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:title="iret_DistributionsPaidToCommonShareholdersReinvestment_lbl" xml:lang="en-US" id="iret_DistributionsPaidToCommonShareholdersReinvestment_lbl">Distributions paid to common shareholders, reinvestment.</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="DistributionsPaidToCommonShareholdersReinvestment" xlink:to="iret_DistributionsPaidToCommonShareholdersReinvestment_lbl" xlink:title="label: DistributionsPaidToCommonShareholdersReinvestment to iret_DistributionsPaidToCommonShareholdersReinvestment_lbl" />
    <link:label xlink:type="resource" xlink:label="iret_DistributionsPaidToCommonShareholdersReinvestment_lbl1" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="iret_DistributionsPaidToCommonShareholdersReinvestment_lbl1" xml:lang="en-US" id="iret_DistributionsPaidToCommonShareholdersReinvestment_lbl1">Distributions paid to common shareholders, reinvestment</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="DistributionsPaidToCommonShareholdersReinvestment" xlink:to="iret_DistributionsPaidToCommonShareholdersReinvestment_lbl1" xlink:title="label: DistributionsPaidToCommonShareholdersReinvestment to iret_DistributionsPaidToCommonShareholdersReinvestment_lbl1" />
    <link:label xlink:type="resource" xlink:label="iret_DistributionsPaidToCommonShareholdersReinvestment_lbl2" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:title="iret_DistributionsPaidToCommonShareholdersReinvestment_lbl2" xml:lang="en-US" id="iret_DistributionsPaidToCommonShareholdersReinvestment_lbl2">Distributions paid to common shareholders, net of reinvestment</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="DistributionsPaidToCommonShareholdersReinvestment" xlink:to="iret_DistributionsPaidToCommonShareholdersReinvestment_lbl2" xlink:title="label: DistributionsPaidToCommonShareholdersReinvestment to iret_DistributionsPaidToCommonShareholdersReinvestment_lbl2" />
    <link:loc xlink:type="locator" xlink:href="iret-20130131.xsd#iret_RedeemableNoncontrollingInterestsTextBlock" xlink:label="RedeemableNoncontrollingInterestsTextBlock" xlink:title="RedeemableNoncontrollingInterestsTextBlock" />
    <link:label xlink:type="resource" xlink:label="iret_RedeemableNoncontrollingInterestsTextBlock_lbl" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:title="iret_RedeemableNoncontrollingInterestsTextBlock_lbl" xml:lang="en-US" id="iret_RedeemableNoncontrollingInterestsTextBlock_lbl">Disclosure pertaining to Redeemable Noncontrolling Interests.</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="RedeemableNoncontrollingInterestsTextBlock" xlink:to="iret_RedeemableNoncontrollingInterestsTextBlock_lbl" xlink:title="label: RedeemableNoncontrollingInterestsTextBlock to iret_RedeemableNoncontrollingInterestsTextBlock_lbl" />
    <link:label xlink:type="resource" xlink:label="iret_RedeemableNoncontrollingInterestsTextBlock_lbl1" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="iret_RedeemableNoncontrollingInterestsTextBlock_lbl1" xml:lang="en-US" id="iret_RedeemableNoncontrollingInterestsTextBlock_lbl1">Redeemable Noncontrolling Interests [Text Block]</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="RedeemableNoncontrollingInterestsTextBlock" xlink:to="iret_RedeemableNoncontrollingInterestsTextBlock_lbl1" xlink:title="label: RedeemableNoncontrollingInterestsTextBlock to iret_RedeemableNoncontrollingInterestsTextBlock_lbl1" />
    <link:label xlink:type="resource" xlink:label="iret_RedeemableNoncontrollingInterestsTextBlock_lbl2" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:title="iret_RedeemableNoncontrollingInterestsTextBlock_lbl2" xml:lang="en-US" id="iret_RedeemableNoncontrollingInterestsTextBlock_lbl2">REDEEMABLE NONCONTROLLING INTERESTS</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="RedeemableNoncontrollingInterestsTextBlock" xlink:to="iret_RedeemableNoncontrollingInterestsTextBlock_lbl2" xlink:title="label: RedeemableNoncontrollingInterestsTextBlock to iret_RedeemableNoncontrollingInterestsTextBlock_lbl2" />
    <link:loc xlink:type="locator" xlink:href="iret-20130131.xsd#iret_CompensatingBalancesAndOtherInvestmentsLenderHoldbacksPolicyTextBlock" xlink:label="CompensatingBalancesAndOtherInvestmentsLenderHoldbacksPolicyTextBlock" xlink:title="CompensatingBalancesAndOtherInvestmentsLenderHoldbacksPolicyTextBlock" />
    <link:label xlink:type="resource" xlink:label="iret_CompensatingBalancesAndOtherInvestmentsLenderHoldbacksPolicyTextBlock_lbl" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:title="iret_CompensatingBalancesAndOtherInvestmentsLenderHoldbacksPolicyTextBlock_lbl" xml:lang="en-US" id="iret_CompensatingBalancesAndOtherInvestmentsLenderHoldbacksPolicyTextBlock_lbl">Disclosure of accounting policy for compensating balances, not restricted as to withdrawal, with financial institutions in connection with financing received from those institutions and/or to ensure future credit availability and funds retained by a lender for the payment of construction costs or tenant improvements.</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="CompensatingBalancesAndOtherInvestmentsLenderHoldbacksPolicyTextBlock" xlink:to="iret_CompensatingBalancesAndOtherInvestmentsLenderHoldbacksPolicyTextBlock_lbl" xlink:title="label: CompensatingBalancesAndOtherInvestmentsLenderHoldbacksPolicyTextBlock to iret_CompensatingBalancesAndOtherInvestmentsLenderHoldbacksPolicyTextBlock_lbl" />
    <link:label xlink:type="resource" xlink:label="iret_CompensatingBalancesAndOtherInvestmentsLenderHoldbacksPolicyTextBlock_lbl1" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="iret_CompensatingBalancesAndOtherInvestmentsLenderHoldbacksPolicyTextBlock_lbl1" xml:lang="en-US" id="iret_CompensatingBalancesAndOtherInvestmentsLenderHoldbacksPolicyTextBlock_lbl1">COMPENSATING BALANCES AND OTHER INVESTMENTS; LENDER HOLDBACKS [Policy Text Block]</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="CompensatingBalancesAndOtherInvestmentsLenderHoldbacksPolicyTextBlock" xlink:to="iret_CompensatingBalancesAndOtherInvestmentsLenderHoldbacksPolicyTextBlock_lbl1" xlink:title="label: CompensatingBalancesAndOtherInvestmentsLenderHoldbacksPolicyTextBlock to iret_CompensatingBalancesAndOtherInvestmentsLenderHoldbacksPolicyTextBlock_lbl1" />
    <link:label xlink:type="resource" xlink:label="iret_CompensatingBalancesAndOtherInvestmentsLenderHoldbacksPolicyTextBlock_lbl2" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:title="iret_CompensatingBalancesAndOtherInvestmentsLenderHoldbacksPolicyTextBlock_lbl2" xml:lang="en-US" id="iret_CompensatingBalancesAndOtherInvestmentsLenderHoldbacksPolicyTextBlock_lbl2">COMPENSATING BALANCES AND OTHER INVESTMENTS; LENDER HOLDBACKS</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="CompensatingBalancesAndOtherInvestmentsLenderHoldbacksPolicyTextBlock" xlink:to="iret_CompensatingBalancesAndOtherInvestmentsLenderHoldbacksPolicyTextBlock_lbl2" xlink:title="label: CompensatingBalancesAndOtherInvestmentsLenderHoldbacksPolicyTextBlock to iret_CompensatingBalancesAndOtherInvestmentsLenderHoldbacksPolicyTextBlock_lbl2" />
    <link:loc xlink:type="locator" xlink:href="iret-20130131.xsd#iret_InvoluntaryConversionOfAssetsPolicyTextBlock" xlink:label="InvoluntaryConversionOfAssetsPolicyTextBlock" xlink:title="InvoluntaryConversionOfAssetsPolicyTextBlock" />
    <link:label xlink:type="resource" xlink:label="iret_InvoluntaryConversionOfAssetsPolicyTextBlock_lbl" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:title="iret_InvoluntaryConversionOfAssetsPolicyTextBlock_lbl" xml:lang="en-US" id="iret_InvoluntaryConversionOfAssetsPolicyTextBlock_lbl">Disclosure of accounting policy for involuntary conversion of assets.</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="InvoluntaryConversionOfAssetsPolicyTextBlock" xlink:to="iret_InvoluntaryConversionOfAssetsPolicyTextBlock_lbl" xlink:title="label: InvoluntaryConversionOfAssetsPolicyTextBlock to iret_InvoluntaryConversionOfAssetsPolicyTextBlock_lbl" />
    <link:label xlink:type="resource" xlink:label="iret_InvoluntaryConversionOfAssetsPolicyTextBlock_lbl1" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="iret_InvoluntaryConversionOfAssetsPolicyTextBlock_lbl1" xml:lang="en-US" id="iret_InvoluntaryConversionOfAssetsPolicyTextBlock_lbl1">INVOLUNTARY CONVERSION OF ASSETS [Policy Text Block]</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="InvoluntaryConversionOfAssetsPolicyTextBlock" xlink:to="iret_InvoluntaryConversionOfAssetsPolicyTextBlock_lbl1" xlink:title="label: InvoluntaryConversionOfAssetsPolicyTextBlock to iret_InvoluntaryConversionOfAssetsPolicyTextBlock_lbl1" />
    <link:label xlink:type="resource" xlink:label="iret_InvoluntaryConversionOfAssetsPolicyTextBlock_lbl2" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:title="iret_InvoluntaryConversionOfAssetsPolicyTextBlock_lbl2" xml:lang="en-US" id="iret_InvoluntaryConversionOfAssetsPolicyTextBlock_lbl2">INVOLUNTARY CONVERSION OF ASSETS</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="InvoluntaryConversionOfAssetsPolicyTextBlock" xlink:to="iret_InvoluntaryConversionOfAssetsPolicyTextBlock_lbl2" xlink:title="label: InvoluntaryConversionOfAssetsPolicyTextBlock to iret_InvoluntaryConversionOfAssetsPolicyTextBlock_lbl2" />
    <link:loc xlink:type="locator" xlink:href="iret-20130131.xsd#iret_IdentifiedIntangibleAssetsAndIntangibleLiabilitiesTableTextBlock" xlink:label="IdentifiedIntangibleAssetsAndIntangibleLiabilitiesTableTextBlock" xlink:title="IdentifiedIntangibleAssetsAndIntangibleLiabilitiesTableTextBlock" />
    <link:label xlink:type="resource" xlink:label="iret_IdentifiedIntangibleAssetsAndIntangibleLiabilitiesTableTextBlock_lbl" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:title="iret_IdentifiedIntangibleAssetsAndIntangibleLiabilitiesTableTextBlock_lbl" xml:lang="en-US" id="iret_IdentifiedIntangibleAssetsAndIntangibleLiabilitiesTableTextBlock_lbl">Tabular disclosure of identified intangible assets and intangible liabilities as of the reporting date including gross carrying amounts, accumulated amortization and net carrying amounts.</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="IdentifiedIntangibleAssetsAndIntangibleLiabilitiesTableTextBlock" xlink:to="iret_IdentifiedIntangibleAssetsAndIntangibleLiabilitiesTableTextBlock_lbl" xlink:title="label: IdentifiedIntangibleAssetsAndIntangibleLiabilitiesTableTextBlock to iret_IdentifiedIntangibleAssetsAndIntangibleLiabilitiesTableTextBlock_lbl" />
    <link:label xlink:type="resource" xlink:label="iret_IdentifiedIntangibleAssetsAndIntangibleLiabilitiesTableTextBlock_lbl1" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="iret_IdentifiedIntangibleAssetsAndIntangibleLiabilitiesTableTextBlock_lbl1" xml:lang="en-US" id="iret_IdentifiedIntangibleAssetsAndIntangibleLiabilitiesTableTextBlock_lbl1">Identified intangible assets and intangible liabilities [Table Text Block]</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="IdentifiedIntangibleAssetsAndIntangibleLiabilitiesTableTextBlock" xlink:to="iret_IdentifiedIntangibleAssetsAndIntangibleLiabilitiesTableTextBlock_lbl1" xlink:title="label: IdentifiedIntangibleAssetsAndIntangibleLiabilitiesTableTextBlock to iret_IdentifiedIntangibleAssetsAndIntangibleLiabilitiesTableTextBlock_lbl1" />
    <link:label xlink:type="resource" xlink:label="iret_IdentifiedIntangibleAssetsAndIntangibleLiabilitiesTableTextBlock_lbl2" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:title="iret_IdentifiedIntangibleAssetsAndIntangibleLiabilitiesTableTextBlock_lbl2" xml:lang="en-US" id="iret_IdentifiedIntangibleAssetsAndIntangibleLiabilitiesTableTextBlock_lbl2">Identified intangible assets and intangible liabilities</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="IdentifiedIntangibleAssetsAndIntangibleLiabilitiesTableTextBlock" xlink:to="iret_IdentifiedIntangibleAssetsAndIntangibleLiabilitiesTableTextBlock_lbl2" xlink:title="label: IdentifiedIntangibleAssetsAndIntangibleLiabilitiesTableTextBlock to iret_IdentifiedIntangibleAssetsAndIntangibleLiabilitiesTableTextBlock_lbl2" />
    <link:loc xlink:type="locator" xlink:href="iret-20130131.xsd#iret_EstimatedAnnualAmortizationOfAcquiredBelow-MarketLeasesNetOfAcquiredAbove-MarketLeasesTableTextBlock" xlink:label="EstimatedAnnualAmortizationOfAcquiredBelow-MarketLeasesNetOfAcquiredAbove-MarketLeasesTableTextBlock" xlink:title="EstimatedAnnualAmortizationOfAcquiredBelow-MarketLeasesNetOfAcquiredAbove-MarketLeasesTableTextBlock" />
    <link:label xlink:type="resource" xlink:label="iret_EstimatedAnnualAmortizationOfAcquiredBelow-MarketLeasesNetOfAcquiredAbove-MarketLeasesTableTextBlock_lbl" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:title="iret_EstimatedAnnualAmortizationOfAcquiredBelow-MarketLeasesNetOfAcquiredAbove-MarketLeasesTableTextBlock_lbl" xml:lang="en-US" id="iret_EstimatedAnnualAmortizationOfAcquiredBelow-MarketLeasesNetOfAcquiredAbove-MarketLeasesTableTextBlock_lbl">Tabular disclosure of the estimated annual amortization of acquired below-market leases, net of acquired above-market leases for each of the five succeeding fiscal years.</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="EstimatedAnnualAmortizationOfAcquiredBelow-MarketLeasesNetOfAcquiredAbove-MarketLeasesTableTextBlock" xlink:to="iret_EstimatedAnnualAmortizationOfAcquiredBelow-MarketLeasesNetOfAcquiredAbove-MarketLeasesTableTextBlock_lbl" xlink:title="label: EstimatedAnnualAmortizationOfAcquiredBelow-MarketLeasesNetOfAcquiredAbove-MarketLeasesTableTextBlock to iret_EstimatedAnnualAmortizationOfAcquiredBelow-MarketLeasesNetOfAcquiredAbove-MarketLeasesTableTextBlock_lbl" />
    <link:label xlink:type="resource" xlink:label="iret_EstimatedAnnualAmortizationOfAcquiredBelow-MarketLeasesNetOfAcquiredAbove-MarketLeasesTableTextBlock_lbl1" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="iret_EstimatedAnnualAmortizationOfAcquiredBelow-MarketLeasesNetOfAcquiredAbove-MarketLeasesTableTextBlock_lbl1" xml:lang="en-US" id="iret_EstimatedAnnualAmortizationOfAcquiredBelow-MarketLeasesNetOfAcquiredAbove-MarketLeasesTableTextBlock_lbl1">Estimated annual amortization of acquired below-market leases, net of acquired above-market leases [Table Text Block]</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="EstimatedAnnualAmortizationOfAcquiredBelow-MarketLeasesNetOfAcquiredAbove-MarketLeasesTableTextBlock" xlink:to="iret_EstimatedAnnualAmortizationOfAcquiredBelow-MarketLeasesNetOfAcquiredAbove-MarketLeasesTableTextBlock_lbl1" xlink:title="label: EstimatedAnnualAmortizationOfAcquiredBelow-MarketLeasesNetOfAcquiredAbove-MarketLeasesTableTextBlock to iret_EstimatedAnnualAmortizationOfAcquiredBelow-MarketLeasesNetOfAcquiredAbove-MarketLeasesTableTextBlock_lbl1" />
    <link:label xlink:type="resource" xlink:label="iret_EstimatedAnnualAmortizationOfAcquiredBelow-MarketLeasesNetOfAcquiredAbove-MarketLeasesTableTextBlock_lbl2" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:title="iret_EstimatedAnnualAmortizationOfAcquiredBelow-MarketLeasesNetOfAcquiredAbove-MarketLeasesTableTextBlock_lbl2" xml:lang="en-US" id="iret_EstimatedAnnualAmortizationOfAcquiredBelow-MarketLeasesNetOfAcquiredAbove-MarketLeasesTableTextBlock_lbl2">Estimated annual amortization of acquired below-market leases, net of acquired above-market leases</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="EstimatedAnnualAmortizationOfAcquiredBelow-MarketLeasesNetOfAcquiredAbove-MarketLeasesTableTextBlock" xlink:to="iret_EstimatedAnnualAmortizationOfAcquiredBelow-MarketLeasesNetOfAcquiredAbove-MarketLeasesTableTextBlock_lbl2" xlink:title="label: EstimatedAnnualAmortizationOfAcquiredBelow-MarketLeasesNetOfAcquiredAbove-MarketLeasesTableTextBlock to iret_EstimatedAnnualAmortizationOfAcquiredBelow-MarketLeasesNetOfAcquiredAbove-MarketLeasesTableTextBlock_lbl2" />
    <link:loc xlink:type="locator" xlink:href="iret-20130131.xsd#iret_InterestInCommonUnitsInOperatingPartnership" xlink:label="InterestInCommonUnitsInOperatingPartnership" xlink:title="InterestInCommonUnitsInOperatingPartnership" />
    <link:label xlink:type="resource" xlink:label="iret_InterestInCommonUnitsInOperatingPartnership_lbl" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:title="iret_InterestInCommonUnitsInOperatingPartnership_lbl" xml:lang="en-US" id="iret_InterestInCommonUnitsInOperatingPartnership_lbl">The entity's ownership interest in common units in the operating partnership.</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="InterestInCommonUnitsInOperatingPartnership" xlink:to="iret_InterestInCommonUnitsInOperatingPartnership_lbl" xlink:title="label: InterestInCommonUnitsInOperatingPartnership to iret_InterestInCommonUnitsInOperatingPartnership_lbl" />
    <link:label xlink:type="resource" xlink:label="iret_InterestInCommonUnitsInOperatingPartnership_lbl1" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="iret_InterestInCommonUnitsInOperatingPartnership_lbl1" xml:lang="en-US" id="iret_InterestInCommonUnitsInOperatingPartnership_lbl1">Interest in common units in operating partnership</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="InterestInCommonUnitsInOperatingPartnership" xlink:to="iret_InterestInCommonUnitsInOperatingPartnership_lbl1" xlink:title="label: InterestInCommonUnitsInOperatingPartnership to iret_InterestInCommonUnitsInOperatingPartnership_lbl1" />
    <link:label xlink:type="resource" xlink:label="iret_InterestInCommonUnitsInOperatingPartnership_lbl2" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:title="iret_InterestInCommonUnitsInOperatingPartnership_lbl2" xml:lang="en-US" id="iret_InterestInCommonUnitsInOperatingPartnership_lbl2">Interest in common units in operating partnership (in hundredths)</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="InterestInCommonUnitsInOperatingPartnership" xlink:to="iret_InterestInCommonUnitsInOperatingPartnership_lbl2" xlink:title="label: InterestInCommonUnitsInOperatingPartnership to iret_InterestInCommonUnitsInOperatingPartnership_lbl2" />
    <link:loc xlink:type="locator" xlink:href="iret-20130131.xsd#iret_InterestInPreferredUnitsInOperatingPartnership" xlink:label="InterestInPreferredUnitsInOperatingPartnership" xlink:title="InterestInPreferredUnitsInOperatingPartnership" />
    <link:label xlink:type="resource" xlink:label="iret_InterestInPreferredUnitsInOperatingPartnership_lbl" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:title="iret_InterestInPreferredUnitsInOperatingPartnership_lbl" xml:lang="en-US" id="iret_InterestInPreferredUnitsInOperatingPartnership_lbl">The entity's ownership interest in preferred units in the operating partnership.</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="InterestInPreferredUnitsInOperatingPartnership" xlink:to="iret_InterestInPreferredUnitsInOperatingPartnership_lbl" xlink:title="label: InterestInPreferredUnitsInOperatingPartnership to iret_InterestInPreferredUnitsInOperatingPartnership_lbl" />
    <link:label xlink:type="resource" xlink:label="iret_InterestInPreferredUnitsInOperatingPartnership_lbl1" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="iret_InterestInPreferredUnitsInOperatingPartnership_lbl1" xml:lang="en-US" id="iret_InterestInPreferredUnitsInOperatingPartnership_lbl1">Interest in preferred units in operating partnership</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="InterestInPreferredUnitsInOperatingPartnership" xlink:to="iret_InterestInPreferredUnitsInOperatingPartnership_lbl1" xlink:title="label: InterestInPreferredUnitsInOperatingPartnership to iret_InterestInPreferredUnitsInOperatingPartnership_lbl1" />
    <link:label xlink:type="resource" xlink:label="iret_InterestInPreferredUnitsInOperatingPartnership_lbl2" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:title="iret_InterestInPreferredUnitsInOperatingPartnership_lbl2" xml:lang="en-US" id="iret_InterestInPreferredUnitsInOperatingPartnership_lbl2">Interest in preferred units in operating partnership (in hundredths)</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="InterestInPreferredUnitsInOperatingPartnership" xlink:to="iret_InterestInPreferredUnitsInOperatingPartnership_lbl2" xlink:title="label: InterestInPreferredUnitsInOperatingPartnership to iret_InterestInPreferredUnitsInOperatingPartnership_lbl2" />
    <link:loc xlink:type="locator" xlink:href="iret-20130131.xsd#iret_RedemptionBasis" xlink:label="RedemptionBasis" xlink:title="RedemptionBasis" />
    <link:label xlink:type="resource" xlink:label="iret_RedemptionBasis_lbl" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:title="iret_RedemptionBasis_lbl" xml:lang="en-US" id="iret_RedemptionBasis_lbl">The number of limited partners' units to be redeemed in exchange for a number of common shares upon exercise of the redemption option by the limited partners.</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="RedemptionBasis" xlink:to="iret_RedemptionBasis_lbl" xlink:title="label: RedemptionBasis to iret_RedemptionBasis_lbl" />
    <link:label xlink:type="resource" xlink:label="iret_RedemptionBasis_lbl1" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="iret_RedemptionBasis_lbl1" xml:lang="en-US" id="iret_RedemptionBasis_lbl1">Redemption basis</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="RedemptionBasis" xlink:to="iret_RedemptionBasis_lbl1" xlink:title="label: RedemptionBasis to iret_RedemptionBasis_lbl1" />
    <link:loc xlink:type="locator" xlink:href="iret-20130131.xsd#iret_RedemptionsByLimitedPartnerMaximum" xlink:label="RedemptionsByLimitedPartnerMaximum" xlink:title="RedemptionsByLimitedPartnerMaximum" />
    <link:label xlink:type="resource" xlink:label="iret_RedemptionsByLimitedPartnerMaximum_lbl" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:title="iret_RedemptionsByLimitedPartnerMaximum_lbl" xml:lang="en-US" id="iret_RedemptionsByLimitedPartnerMaximum_lbl">The maximum number of redemptions by a limited partner that may occur in a calendar year.</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="RedemptionsByLimitedPartnerMaximum" xlink:to="iret_RedemptionsByLimitedPartnerMaximum_lbl" xlink:title="label: RedemptionsByLimitedPartnerMaximum to iret_RedemptionsByLimitedPartnerMaximum_lbl" />
    <link:label xlink:type="resource" xlink:label="iret_RedemptionsByLimitedPartnerMaximum_lbl1" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="iret_RedemptionsByLimitedPartnerMaximum_lbl1" xml:lang="en-US" id="iret_RedemptionsByLimitedPartnerMaximum_lbl1">Redemptions by limited partner, maximum</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="RedemptionsByLimitedPartnerMaximum" xlink:to="iret_RedemptionsByLimitedPartnerMaximum_lbl1" xlink:title="label: RedemptionsByLimitedPartnerMaximum to iret_RedemptionsByLimitedPartnerMaximum_lbl1" />
    <link:loc xlink:type="locator" xlink:href="iret-20130131.xsd#iret_NumberOfUnitsToRedeemMinimum" xlink:label="NumberOfUnitsToRedeemMinimum" xlink:title="NumberOfUnitsToRedeemMinimum" />
    <link:label xlink:type="resource" xlink:label="iret_NumberOfUnitsToRedeemMinimum_lbl" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:title="iret_NumberOfUnitsToRedeemMinimum_lbl" xml:lang="en-US" id="iret_NumberOfUnitsToRedeemMinimum_lbl">The minimum number of units required for a limited partner to exercise the redemption, unless such limited partner holds less than this minimum, in which case the minimum number of units is equal to the number of units held by such limited partner.</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="NumberOfUnitsToRedeemMinimum" xlink:to="iret_NumberOfUnitsToRedeemMinimum_lbl" xlink:title="label: NumberOfUnitsToRedeemMinimum to iret_NumberOfUnitsToRedeemMinimum_lbl" />
    <link:label xlink:type="resource" xlink:label="iret_NumberOfUnitsToRedeemMinimum_lbl1" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="iret_NumberOfUnitsToRedeemMinimum_lbl1" xml:lang="en-US" id="iret_NumberOfUnitsToRedeemMinimum_lbl1">Number of units to redeem, minimum</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="NumberOfUnitsToRedeemMinimum" xlink:to="iret_NumberOfUnitsToRedeemMinimum_lbl1" xlink:title="label: NumberOfUnitsToRedeemMinimum to iret_NumberOfUnitsToRedeemMinimum_lbl1" />
    <link:label xlink:type="resource" xlink:label="iret_NumberOfUnitsToRedeemMinimum_lbl2" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:title="iret_NumberOfUnitsToRedeemMinimum_lbl2" xml:lang="en-US" id="iret_NumberOfUnitsToRedeemMinimum_lbl2">Number of units to redeem, minimum (in units)</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="NumberOfUnitsToRedeemMinimum" xlink:to="iret_NumberOfUnitsToRedeemMinimum_lbl2" xlink:title="label: NumberOfUnitsToRedeemMinimum to iret_NumberOfUnitsToRedeemMinimum_lbl2" />
    <link:loc xlink:type="locator" xlink:href="iret-20130131.xsd#iret_PeriodToHoldBeneficialInterestMinimum" xlink:label="PeriodToHoldBeneficialInterestMinimum" xlink:title="PeriodToHoldBeneficialInterestMinimum" />
    <link:label xlink:type="resource" xlink:label="iret_PeriodToHoldBeneficialInterestMinimum_lbl" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:title="iret_PeriodToHoldBeneficialInterestMinimum_lbl" xml:lang="en-US" id="iret_PeriodToHoldBeneficialInterestMinimum_lbl">Minimum period for which some limited partners have contractually agreed to hold the beneficial interest.</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="PeriodToHoldBeneficialInterestMinimum" xlink:to="iret_PeriodToHoldBeneficialInterestMinimum_lbl" xlink:title="label: PeriodToHoldBeneficialInterestMinimum to iret_PeriodToHoldBeneficialInterestMinimum_lbl" />
    <link:label xlink:type="resource" xlink:label="iret_PeriodToHoldBeneficialInterestMinimum_lbl1" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="iret_PeriodToHoldBeneficialInterestMinimum_lbl1" xml:lang="en-US" id="iret_PeriodToHoldBeneficialInterestMinimum_lbl1">Period to hold the beneficial interest, minimum</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="PeriodToHoldBeneficialInterestMinimum" xlink:to="iret_PeriodToHoldBeneficialInterestMinimum_lbl1" xlink:title="label: PeriodToHoldBeneficialInterestMinimum to iret_PeriodToHoldBeneficialInterestMinimum_lbl1" />
    <link:loc xlink:type="locator" xlink:href="iret-20130131.xsd#iret_KentwoodPropertyMember" xlink:label="KentwoodPropertyMember" xlink:title="KentwoodPropertyMember" />
    <link:label xlink:type="resource" xlink:label="iret_KentwoodPropertyMember_lbl" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:title="iret_KentwoodPropertyMember_lbl" xml:lang="en-US" id="iret_KentwoodPropertyMember_lbl">Kentwood property.</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="KentwoodPropertyMember" xlink:to="iret_KentwoodPropertyMember_lbl" xlink:title="label: KentwoodPropertyMember to iret_KentwoodPropertyMember_lbl" />
    <link:label xlink:type="resource" xlink:label="iret_KentwoodPropertyMember_lbl1" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="iret_KentwoodPropertyMember_lbl1" xml:lang="en-US" id="iret_KentwoodPropertyMember_lbl1">Kentwood property [Member]</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="KentwoodPropertyMember" xlink:to="iret_KentwoodPropertyMember_lbl1" xlink:title="label: KentwoodPropertyMember to iret_KentwoodPropertyMember_lbl1" />
    <link:loc xlink:type="locator" xlink:href="iret-20130131.xsd#iret_DacotahBankMinotNorthDakotaMember" xlink:label="DacotahBankMinotNorthDakotaMember" xlink:title="DacotahBankMinotNorthDakotaMember" />
    <link:label xlink:type="resource" xlink:label="iret_DacotahBankMinotNorthDakotaMember_lbl" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:title="iret_DacotahBankMinotNorthDakotaMember_lbl" xml:lang="en-US" id="iret_DacotahBankMinotNorthDakotaMember_lbl">Dacotah Bank, Minot, North Dakota.</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="DacotahBankMinotNorthDakotaMember" xlink:to="iret_DacotahBankMinotNorthDakotaMember_lbl" xlink:title="label: DacotahBankMinotNorthDakotaMember to iret_DacotahBankMinotNorthDakotaMember_lbl" />
    <link:label xlink:type="resource" xlink:label="iret_DacotahBankMinotNorthDakotaMember_lbl1" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="iret_DacotahBankMinotNorthDakotaMember_lbl1" xml:lang="en-US" id="iret_DacotahBankMinotNorthDakotaMember_lbl1">Dacotah Bank, Minot, North Dakota [Member]</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="DacotahBankMinotNorthDakotaMember" xlink:to="iret_DacotahBankMinotNorthDakotaMember_lbl1" xlink:title="label: DacotahBankMinotNorthDakotaMember to iret_DacotahBankMinotNorthDakotaMember_lbl1" />
    <link:loc xlink:type="locator" xlink:href="iret-20130131.xsd#iret_UnitedCommunityBankMinotNorthDakotaMember" xlink:label="UnitedCommunityBankMinotNorthDakotaMember" xlink:title="UnitedCommunityBankMinotNorthDakotaMember" />
    <link:label xlink:type="resource" xlink:label="iret_UnitedCommunityBankMinotNorthDakotaMember_lbl" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:title="iret_UnitedCommunityBankMinotNorthDakotaMember_lbl" xml:lang="en-US" id="iret_UnitedCommunityBankMinotNorthDakotaMember_lbl">United Community Bank, Minot, North Dakota.</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="UnitedCommunityBankMinotNorthDakotaMember" xlink:to="iret_UnitedCommunityBankMinotNorthDakotaMember_lbl" xlink:title="label: UnitedCommunityBankMinotNorthDakotaMember to iret_UnitedCommunityBankMinotNorthDakotaMember_lbl" />
    <link:label xlink:type="resource" xlink:label="iret_UnitedCommunityBankMinotNorthDakotaMember_lbl1" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="iret_UnitedCommunityBankMinotNorthDakotaMember_lbl1" xml:lang="en-US" id="iret_UnitedCommunityBankMinotNorthDakotaMember_lbl1">United Community Bank, Minot, North Dakota [Member]</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="UnitedCommunityBankMinotNorthDakotaMember" xlink:to="iret_UnitedCommunityBankMinotNorthDakotaMember_lbl1" xlink:title="label: UnitedCommunityBankMinotNorthDakotaMember to iret_UnitedCommunityBankMinotNorthDakotaMember_lbl1" />
    <link:loc xlink:type="locator" xlink:href="iret-20130131.xsd#iret_CommerceBankMinnesotaBankingCorporationMember" xlink:label="CommerceBankMinnesotaBankingCorporationMember" xlink:title="CommerceBankMinnesotaBankingCorporationMember" />
    <link:label xlink:type="resource" xlink:label="iret_CommerceBankMinnesotaBankingCorporationMember_lbl" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:title="iret_CommerceBankMinnesotaBankingCorporationMember_lbl" xml:lang="en-US" id="iret_CommerceBankMinnesotaBankingCorporationMember_lbl">Commerce Bank, A Minnesota Banking Corporation.</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="CommerceBankMinnesotaBankingCorporationMember" xlink:to="iret_CommerceBankMinnesotaBankingCorporationMember_lbl" xlink:title="label: CommerceBankMinnesotaBankingCorporationMember to iret_CommerceBankMinnesotaBankingCorporationMember_lbl" />
    <link:label xlink:type="resource" xlink:label="iret_CommerceBankMinnesotaBankingCorporationMember_lbl1" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="iret_CommerceBankMinnesotaBankingCorporationMember_lbl1" xml:lang="en-US" id="iret_CommerceBankMinnesotaBankingCorporationMember_lbl1">Commerce Bank, A Minnesota Banking Corporation [Member]</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="CommerceBankMinnesotaBankingCorporationMember" xlink:to="iret_CommerceBankMinnesotaBankingCorporationMember_lbl1" xlink:title="label: CommerceBankMinnesotaBankingCorporationMember to iret_CommerceBankMinnesotaBankingCorporationMember_lbl1" />
    <link:loc xlink:type="locator" xlink:href="iret-20130131.xsd#iret_FirstInternationalBankWatfordCityNorthDakotaMember" xlink:label="FirstInternationalBankWatfordCityNorthDakotaMember" xlink:title="FirstInternationalBankWatfordCityNorthDakotaMember" />
    <link:label xlink:type="resource" xlink:label="iret_FirstInternationalBankWatfordCityNorthDakotaMember_lbl" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:title="iret_FirstInternationalBankWatfordCityNorthDakotaMember_lbl" xml:lang="en-US" id="iret_FirstInternationalBankWatfordCityNorthDakotaMember_lbl">First International Bank, Watford City, North Dakota.</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="FirstInternationalBankWatfordCityNorthDakotaMember" xlink:to="iret_FirstInternationalBankWatfordCityNorthDakotaMember_lbl" xlink:title="label: FirstInternationalBankWatfordCityNorthDakotaMember to iret_FirstInternationalBankWatfordCityNorthDakotaMember_lbl" />
    <link:label xlink:type="resource" xlink:label="iret_FirstInternationalBankWatfordCityNorthDakotaMember_lbl1" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="iret_FirstInternationalBankWatfordCityNorthDakotaMember_lbl1" xml:lang="en-US" id="iret_FirstInternationalBankWatfordCityNorthDakotaMember_lbl1">First International Bank, Watford City, North Dakota [Member]</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="FirstInternationalBankWatfordCityNorthDakotaMember" xlink:to="iret_FirstInternationalBankWatfordCityNorthDakotaMember_lbl1" xlink:title="label: FirstInternationalBankWatfordCityNorthDakotaMember to iret_FirstInternationalBankWatfordCityNorthDakotaMember_lbl1" />
    <link:loc xlink:type="locator" xlink:href="iret-20130131.xsd#iret_PeoplesStateBankOfVelvaNorthDakotaMember" xlink:label="PeoplesStateBankOfVelvaNorthDakotaMember" xlink:title="PeoplesStateBankOfVelvaNorthDakotaMember" />
    <link:label xlink:type="resource" xlink:label="iret_PeoplesStateBankOfVelvaNorthDakotaMember_lbl" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:title="iret_PeoplesStateBankOfVelvaNorthDakotaMember_lbl" xml:lang="en-US" id="iret_PeoplesStateBankOfVelvaNorthDakotaMember_lbl">Peoples State Bank of Velva, North Dakota.</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="PeoplesStateBankOfVelvaNorthDakotaMember" xlink:to="iret_PeoplesStateBankOfVelvaNorthDakotaMember_lbl" xlink:title="label: PeoplesStateBankOfVelvaNorthDakotaMember to iret_PeoplesStateBankOfVelvaNorthDakotaMember_lbl" />
    <link:label xlink:type="resource" xlink:label="iret_PeoplesStateBankOfVelvaNorthDakotaMember_lbl1" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="iret_PeoplesStateBankOfVelvaNorthDakotaMember_lbl1" xml:lang="en-US" id="iret_PeoplesStateBankOfVelvaNorthDakotaMember_lbl1">Peoples State Bank of Velva, North Dakota [Member]</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="PeoplesStateBankOfVelvaNorthDakotaMember" xlink:to="iret_PeoplesStateBankOfVelvaNorthDakotaMember_lbl1" xlink:title="label: PeoplesStateBankOfVelvaNorthDakotaMember to iret_PeoplesStateBankOfVelvaNorthDakotaMember_lbl1" />
    <link:loc xlink:type="locator" xlink:href="iret-20130131.xsd#iret_EquityBankMinnetonkaMinnesotaMember" xlink:label="EquityBankMinnetonkaMinnesotaMember" xlink:title="EquityBankMinnetonkaMinnesotaMember" />
    <link:label xlink:type="resource" xlink:label="iret_EquityBankMinnetonkaMinnesotaMember_lbl" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:title="iret_EquityBankMinnetonkaMinnesotaMember_lbl" xml:lang="en-US" id="iret_EquityBankMinnetonkaMinnesotaMember_lbl">Equity Bank, Minnetonka, Minnesota.</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="EquityBankMinnetonkaMinnesotaMember" xlink:to="iret_EquityBankMinnetonkaMinnesotaMember_lbl" xlink:title="label: EquityBankMinnetonkaMinnesotaMember to iret_EquityBankMinnetonkaMinnesotaMember_lbl" />
    <link:label xlink:type="resource" xlink:label="iret_EquityBankMinnetonkaMinnesotaMember_lbl1" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="iret_EquityBankMinnetonkaMinnesotaMember_lbl1" xml:lang="en-US" id="iret_EquityBankMinnetonkaMinnesotaMember_lbl1">Equity Bank, Minnetonka, Minnesota [Member]</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="EquityBankMinnetonkaMinnesotaMember" xlink:to="iret_EquityBankMinnetonkaMinnesotaMember_lbl1" xlink:title="label: EquityBankMinnetonkaMinnesotaMember to iret_EquityBankMinnetonkaMinnesotaMember_lbl1" />
    <link:loc xlink:type="locator" xlink:href="iret-20130131.xsd#iret_AssociatedBankGreenBayWisconsinMember" xlink:label="AssociatedBankGreenBayWisconsinMember" xlink:title="AssociatedBankGreenBayWisconsinMember" />
    <link:label xlink:type="resource" xlink:label="iret_AssociatedBankGreenBayWisconsinMember_lbl" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:title="iret_AssociatedBankGreenBayWisconsinMember_lbl" xml:lang="en-US" id="iret_AssociatedBankGreenBayWisconsinMember_lbl">Associated Bank, Green Bay, Wisconsin.</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="AssociatedBankGreenBayWisconsinMember" xlink:to="iret_AssociatedBankGreenBayWisconsinMember_lbl" xlink:title="label: AssociatedBankGreenBayWisconsinMember to iret_AssociatedBankGreenBayWisconsinMember_lbl" />
    <link:label xlink:type="resource" xlink:label="iret_AssociatedBankGreenBayWisconsinMember_lbl1" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="iret_AssociatedBankGreenBayWisconsinMember_lbl1" xml:lang="en-US" id="iret_AssociatedBankGreenBayWisconsinMember_lbl1">Associated Bank, Green Bay, Wisconsin [Member]</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="AssociatedBankGreenBayWisconsinMember" xlink:to="iret_AssociatedBankGreenBayWisconsinMember_lbl1" xlink:title="label: AssociatedBankGreenBayWisconsinMember to iret_AssociatedBankGreenBayWisconsinMember_lbl1" />
    <link:loc xlink:type="locator" xlink:href="iret-20130131.xsd#iret_VentureBankEaganMinnesotaMember" xlink:label="VentureBankEaganMinnesotaMember" xlink:title="VentureBankEaganMinnesotaMember" />
    <link:label xlink:type="resource" xlink:label="iret_VentureBankEaganMinnesotaMember_lbl" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:title="iret_VentureBankEaganMinnesotaMember_lbl" xml:lang="en-US" id="iret_VentureBankEaganMinnesotaMember_lbl">Venture Bank, Eagan, Minnesota.</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="VentureBankEaganMinnesotaMember" xlink:to="iret_VentureBankEaganMinnesotaMember_lbl" xlink:title="label: VentureBankEaganMinnesotaMember to iret_VentureBankEaganMinnesotaMember_lbl" />
    <link:label xlink:type="resource" xlink:label="iret_VentureBankEaganMinnesotaMember_lbl1" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="iret_VentureBankEaganMinnesotaMember_lbl1" xml:lang="en-US" id="iret_VentureBankEaganMinnesotaMember_lbl1">Venture Bank, Eagan, Minnesota [Member]</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="VentureBankEaganMinnesotaMember" xlink:to="iret_VentureBankEaganMinnesotaMember_lbl1" xlink:title="label: VentureBankEaganMinnesotaMember to iret_VentureBankEaganMinnesotaMember_lbl1" />
    <link:loc xlink:type="locator" xlink:href="iret-20130131.xsd#iret_AmericanNationalBankOmahaNebraskaMember" xlink:label="AmericanNationalBankOmahaNebraskaMember" xlink:title="AmericanNationalBankOmahaNebraskaMember" />
    <link:label xlink:type="resource" xlink:label="iret_AmericanNationalBankOmahaNebraskaMember_lbl" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:title="iret_AmericanNationalBankOmahaNebraskaMember_lbl" xml:lang="en-US" id="iret_AmericanNationalBankOmahaNebraskaMember_lbl">American National Bank, Omaha, Nebraska.</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="AmericanNationalBankOmahaNebraskaMember" xlink:to="iret_AmericanNationalBankOmahaNebraskaMember_lbl" xlink:title="label: AmericanNationalBankOmahaNebraskaMember to iret_AmericanNationalBankOmahaNebraskaMember_lbl" />
    <link:label xlink:type="resource" xlink:label="iret_AmericanNationalBankOmahaNebraskaMember_lbl1" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="iret_AmericanNationalBankOmahaNebraskaMember_lbl1" xml:lang="en-US" id="iret_AmericanNationalBankOmahaNebraskaMember_lbl1">American National Bank, Omaha, Nebraska [Member]</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="AmericanNationalBankOmahaNebraskaMember" xlink:to="iret_AmericanNationalBankOmahaNebraskaMember_lbl1" xlink:title="label: AmericanNationalBankOmahaNebraskaMember to iret_AmericanNationalBankOmahaNebraskaMember_lbl1" />
    <link:loc xlink:type="locator" xlink:href="iret-20130131.xsd#iret_UnitedCommunityBankAndEquityBankMember" xlink:label="UnitedCommunityBankAndEquityBankMember" xlink:title="UnitedCommunityBankAndEquityBankMember" />
    <link:label xlink:type="resource" xlink:label="iret_UnitedCommunityBankAndEquityBankMember_lbl" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:title="iret_UnitedCommunityBankAndEquityBankMember_lbl" xml:lang="en-US" id="iret_UnitedCommunityBankAndEquityBankMember_lbl">United Community Bank and Equity Bank.</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="UnitedCommunityBankAndEquityBankMember" xlink:to="iret_UnitedCommunityBankAndEquityBankMember_lbl" xlink:title="label: UnitedCommunityBankAndEquityBankMember to iret_UnitedCommunityBankAndEquityBankMember_lbl" />
    <link:label xlink:type="resource" xlink:label="iret_UnitedCommunityBankAndEquityBankMember_lbl1" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="iret_UnitedCommunityBankAndEquityBankMember_lbl1" xml:lang="en-US" id="iret_UnitedCommunityBankAndEquityBankMember_lbl1">United Community Bank and Equity Bank [Member]</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="UnitedCommunityBankAndEquityBankMember" xlink:to="iret_UnitedCommunityBankAndEquityBankMember_lbl1" xlink:title="label: UnitedCommunityBankAndEquityBankMember to iret_UnitedCommunityBankAndEquityBankMember_lbl1" />
    <link:loc xlink:type="locator" xlink:href="iret-20130131.xsd#iret_RemainingTermsOfCertificatesOfDeposit" xlink:label="RemainingTermsOfCertificatesOfDeposit" xlink:title="RemainingTermsOfCertificatesOfDeposit" />
    <link:label xlink:type="resource" xlink:label="iret_RemainingTermsOfCertificatesOfDeposit_lbl" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:title="iret_RemainingTermsOfCertificatesOfDeposit_lbl" xml:lang="en-US" id="iret_RemainingTermsOfCertificatesOfDeposit_lbl">Remaining terms of certificates of deposit.</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="RemainingTermsOfCertificatesOfDeposit" xlink:to="iret_RemainingTermsOfCertificatesOfDeposit_lbl" xlink:title="label: RemainingTermsOfCertificatesOfDeposit to iret_RemainingTermsOfCertificatesOfDeposit_lbl" />
    <link:label xlink:type="resource" xlink:label="iret_RemainingTermsOfCertificatesOfDeposit_lbl1" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="iret_RemainingTermsOfCertificatesOfDeposit_lbl1" xml:lang="en-US" id="iret_RemainingTermsOfCertificatesOfDeposit_lbl1">Remaining terms of certificates of deposit</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="RemainingTermsOfCertificatesOfDeposit" xlink:to="iret_RemainingTermsOfCertificatesOfDeposit_lbl1" xlink:title="label: RemainingTermsOfCertificatesOfDeposit to iret_RemainingTermsOfCertificatesOfDeposit_lbl1" />
    <link:loc xlink:type="locator" xlink:href="iret-20130131.xsd#iret_NumberOfConstructionLoans" xlink:label="NumberOfConstructionLoans" xlink:title="NumberOfConstructionLoans" />
    <link:label xlink:type="resource" xlink:label="iret_NumberOfConstructionLoans_lbl" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:title="iret_NumberOfConstructionLoans_lbl" xml:lang="en-US" id="iret_NumberOfConstructionLoans_lbl">Number of construction loans.</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="NumberOfConstructionLoans" xlink:to="iret_NumberOfConstructionLoans_lbl" xlink:title="label: NumberOfConstructionLoans to iret_NumberOfConstructionLoans_lbl" />
    <link:label xlink:type="resource" xlink:label="iret_NumberOfConstructionLoans_lbl1" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="iret_NumberOfConstructionLoans_lbl1" xml:lang="en-US" id="iret_NumberOfConstructionLoans_lbl1">Number of construction loans</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="NumberOfConstructionLoans" xlink:to="iret_NumberOfConstructionLoans_lbl1" xlink:title="label: NumberOfConstructionLoans to iret_NumberOfConstructionLoans_lbl1" />
    <link:loc xlink:type="locator" xlink:href="iret-20130131.xsd#iret_IdentifiedIntangibleAssetsAndIntangibleLiabilitiesAndGoodwillAbstract" xlink:label="IdentifiedIntangibleAssetsAndIntangibleLiabilitiesAndGoodwillAbstract" xlink:title="IdentifiedIntangibleAssetsAndIntangibleLiabilitiesAndGoodwillAbstract" />
    <link:label xlink:type="resource" xlink:label="iret_IdentifiedIntangibleAssetsAndIntangibleLiabilitiesAndGoodwillAbstract_lbl1" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="iret_IdentifiedIntangibleAssetsAndIntangibleLiabilitiesAndGoodwillAbstract_lbl1" xml:lang="en-US" id="iret_IdentifiedIntangibleAssetsAndIntangibleLiabilitiesAndGoodwillAbstract_lbl1">IDENTIFIED INTANGIBLE ASSETS AND INTANGIBLE LIABILITIES AND GOODWILL [Abstract]</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="IdentifiedIntangibleAssetsAndIntangibleLiabilitiesAndGoodwillAbstract" xlink:to="iret_IdentifiedIntangibleAssetsAndIntangibleLiabilitiesAndGoodwillAbstract_lbl1" xlink:title="label: IdentifiedIntangibleAssetsAndIntangibleLiabilitiesAndGoodwillAbstract to iret_IdentifiedIntangibleAssetsAndIntangibleLiabilitiesAndGoodwillAbstract_lbl1" />
    <link:loc xlink:type="locator" xlink:href="iret-20130131.xsd#iret_AdditionToIntangibleLiabilities" xlink:label="AdditionToIntangibleLiabilities" xlink:title="AdditionToIntangibleLiabilities" />
    <link:label xlink:type="resource" xlink:label="iret_AdditionToIntangibleLiabilities_lbl" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:title="iret_AdditionToIntangibleLiabilities_lbl" xml:lang="en-US" id="iret_AdditionToIntangibleLiabilities_lbl">Addition to intangible liabilities during the period.</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="AdditionToIntangibleLiabilities" xlink:to="iret_AdditionToIntangibleLiabilities_lbl" xlink:title="label: AdditionToIntangibleLiabilities to iret_AdditionToIntangibleLiabilities_lbl" />
    <link:label xlink:type="resource" xlink:label="iret_AdditionToIntangibleLiabilities_lbl1" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="iret_AdditionToIntangibleLiabilities_lbl1" xml:lang="en-US" id="iret_AdditionToIntangibleLiabilities_lbl1">Addition to intangible liabilities</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="AdditionToIntangibleLiabilities" xlink:to="iret_AdditionToIntangibleLiabilities_lbl1" xlink:title="label: AdditionToIntangibleLiabilities to iret_AdditionToIntangibleLiabilities_lbl1" />
    <link:loc xlink:type="locator" xlink:href="iret-20130131.xsd#iret_WeightedAverageLivesOfIntangibleAssetsAndIntangibleLiabilities" xlink:label="WeightedAverageLivesOfIntangibleAssetsAndIntangibleLiabilities" xlink:title="WeightedAverageLivesOfIntangibleAssetsAndIntangibleLiabilities" />
    <link:label xlink:type="resource" xlink:label="iret_WeightedAverageLivesOfIntangibleAssetsAndIntangibleLiabilities_lbl" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:title="iret_WeightedAverageLivesOfIntangibleAssetsAndIntangibleLiabilities_lbl" xml:lang="en-US" id="iret_WeightedAverageLivesOfIntangibleAssetsAndIntangibleLiabilities_lbl">Weighted average lives of intangible assets and intangible liabilities.</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="WeightedAverageLivesOfIntangibleAssetsAndIntangibleLiabilities" xlink:to="iret_WeightedAverageLivesOfIntangibleAssetsAndIntangibleLiabilities_lbl" xlink:title="label: WeightedAverageLivesOfIntangibleAssetsAndIntangibleLiabilities to iret_WeightedAverageLivesOfIntangibleAssetsAndIntangibleLiabilities_lbl" />
    <link:label xlink:type="resource" xlink:label="iret_WeightedAverageLivesOfIntangibleAssetsAndIntangibleLiabilities_lbl1" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="iret_WeightedAverageLivesOfIntangibleAssetsAndIntangibleLiabilities_lbl1" xml:lang="en-US" id="iret_WeightedAverageLivesOfIntangibleAssetsAndIntangibleLiabilities_lbl1">Weighted average lives of intangible assets and intangible liabilities</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="WeightedAverageLivesOfIntangibleAssetsAndIntangibleLiabilities" xlink:to="iret_WeightedAverageLivesOfIntangibleAssetsAndIntangibleLiabilities_lbl1" xlink:title="label: WeightedAverageLivesOfIntangibleAssetsAndIntangibleLiabilities to iret_WeightedAverageLivesOfIntangibleAssetsAndIntangibleLiabilities_lbl1" />
    <link:loc xlink:type="locator" xlink:href="iret-20130131.xsd#iret_PeriodToFinalizeValuationAndCompletePurchasePriceAllocation" xlink:label="PeriodToFinalizeValuationAndCompletePurchasePriceAllocation" xlink:title="PeriodToFinalizeValuationAndCompletePurchasePriceAllocation" />
    <link:label xlink:type="resource" xlink:label="iret_PeriodToFinalizeValuationAndCompletePurchasePriceAllocation_lbl" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:title="iret_PeriodToFinalizeValuationAndCompletePurchasePriceAllocation_lbl" xml:lang="en-US" id="iret_PeriodToFinalizeValuationAndCompletePurchasePriceAllocation_lbl">Period to finalize valuation and complete purchase price allocation.</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="PeriodToFinalizeValuationAndCompletePurchasePriceAllocation" xlink:to="iret_PeriodToFinalizeValuationAndCompletePurchasePriceAllocation_lbl" xlink:title="label: PeriodToFinalizeValuationAndCompletePurchasePriceAllocation to iret_PeriodToFinalizeValuationAndCompletePurchasePriceAllocation_lbl" />
    <link:label xlink:type="resource" xlink:label="iret_PeriodToFinalizeValuationAndCompletePurchasePriceAllocation_lbl1" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="iret_PeriodToFinalizeValuationAndCompletePurchasePriceAllocation_lbl1" xml:lang="en-US" id="iret_PeriodToFinalizeValuationAndCompletePurchasePriceAllocation_lbl1">Period to finalize valuation and complete purchase price allocation</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="PeriodToFinalizeValuationAndCompletePurchasePriceAllocation" xlink:to="iret_PeriodToFinalizeValuationAndCompletePurchasePriceAllocation_lbl1" xlink:title="label: PeriodToFinalizeValuationAndCompletePurchasePriceAllocation to iret_PeriodToFinalizeValuationAndCompletePurchasePriceAllocation_lbl1" />
    <link:loc xlink:type="locator" xlink:href="iret-20130131.xsd#iret_KentwoodMichiganRetailPropertyMember" xlink:label="KentwoodMichiganRetailPropertyMember" xlink:title="KentwoodMichiganRetailPropertyMember" />
    <link:label xlink:type="resource" xlink:label="iret_KentwoodMichiganRetailPropertyMember_lbl" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:title="iret_KentwoodMichiganRetailPropertyMember_lbl" xml:lang="en-US" id="iret_KentwoodMichiganRetailPropertyMember_lbl">Kentwood, Michigan, retail property.</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="KentwoodMichiganRetailPropertyMember" xlink:to="iret_KentwoodMichiganRetailPropertyMember_lbl" xlink:title="label: KentwoodMichiganRetailPropertyMember to iret_KentwoodMichiganRetailPropertyMember_lbl" />
    <link:label xlink:type="resource" xlink:label="iret_KentwoodMichiganRetailPropertyMember_lbl1" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="iret_KentwoodMichiganRetailPropertyMember_lbl1" xml:lang="en-US" id="iret_KentwoodMichiganRetailPropertyMember_lbl1">Kentwood, Michigan, retail property [Member]</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="KentwoodMichiganRetailPropertyMember" xlink:to="iret_KentwoodMichiganRetailPropertyMember_lbl1" xlink:title="label: KentwoodMichiganRetailPropertyMember to iret_KentwoodMichiganRetailPropertyMember_lbl1" />
    <link:loc xlink:type="locator" xlink:href="iret-20130131.xsd#iret_IndentifiedIntangibleLiabilitiesGross" xlink:label="IndentifiedIntangibleLiabilitiesGross" xlink:title="IndentifiedIntangibleLiabilitiesGross" />
    <link:label xlink:type="resource" xlink:label="iret_IndentifiedIntangibleLiabilitiesGross_lbl" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:title="iret_IndentifiedIntangibleLiabilitiesGross_lbl" xml:lang="en-US" id="iret_IndentifiedIntangibleLiabilitiesGross_lbl">Indentified intangible liabilities, gross.</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="IndentifiedIntangibleLiabilitiesGross" xlink:to="iret_IndentifiedIntangibleLiabilitiesGross_lbl" xlink:title="label: IndentifiedIntangibleLiabilitiesGross to iret_IndentifiedIntangibleLiabilitiesGross_lbl" />
    <link:label xlink:type="resource" xlink:label="iret_IndentifiedIntangibleLiabilitiesGross_lbl1" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="iret_IndentifiedIntangibleLiabilitiesGross_lbl1" xml:lang="en-US" id="iret_IndentifiedIntangibleLiabilitiesGross_lbl1">Indentified intangible liabilities, gross</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="IndentifiedIntangibleLiabilitiesGross" xlink:to="iret_IndentifiedIntangibleLiabilitiesGross_lbl1" xlink:title="label: IndentifiedIntangibleLiabilitiesGross to iret_IndentifiedIntangibleLiabilitiesGross_lbl1" />
    <link:loc xlink:type="locator" xlink:href="iret-20130131.xsd#iret_IndentifiedIntangibleLiabilitiesAccumulatedAmortization" xlink:label="IndentifiedIntangibleLiabilitiesAccumulatedAmortization" xlink:title="IndentifiedIntangibleLiabilitiesAccumulatedAmortization" />
    <link:label xlink:type="resource" xlink:label="iret_IndentifiedIntangibleLiabilitiesAccumulatedAmortization_lbl" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:title="iret_IndentifiedIntangibleLiabilitiesAccumulatedAmortization_lbl" xml:lang="en-US" id="iret_IndentifiedIntangibleLiabilitiesAccumulatedAmortization_lbl">Indentified intangible liabilities, accumulated amortization.</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="IndentifiedIntangibleLiabilitiesAccumulatedAmortization" xlink:to="iret_IndentifiedIntangibleLiabilitiesAccumulatedAmortization_lbl" xlink:title="label: IndentifiedIntangibleLiabilitiesAccumulatedAmortization to iret_IndentifiedIntangibleLiabilitiesAccumulatedAmortization_lbl" />
    <link:label xlink:type="resource" xlink:label="iret_IndentifiedIntangibleLiabilitiesAccumulatedAmortization_lbl1" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="iret_IndentifiedIntangibleLiabilitiesAccumulatedAmortization_lbl1" xml:lang="en-US" id="iret_IndentifiedIntangibleLiabilitiesAccumulatedAmortization_lbl1">Indentified intangible liabilities, accumulated amortization</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="IndentifiedIntangibleLiabilitiesAccumulatedAmortization" xlink:to="iret_IndentifiedIntangibleLiabilitiesAccumulatedAmortization_lbl1" xlink:title="label: IndentifiedIntangibleLiabilitiesAccumulatedAmortization to iret_IndentifiedIntangibleLiabilitiesAccumulatedAmortization_lbl1" />
    <link:label xlink:type="resource" xlink:label="iret_IndentifiedIntangibleLiabilitiesAccumulatedAmortization_lbl2" xlink:role="http://www.xbrl.org/2009/role/negatedLabel" xlink:title="iret_IndentifiedIntangibleLiabilitiesAccumulatedAmortization_lbl2" xml:lang="en-US" id="iret_IndentifiedIntangibleLiabilitiesAccumulatedAmortization_lbl2">Indentified intangible liabilities, accumulated amortization</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="IndentifiedIntangibleLiabilitiesAccumulatedAmortization" xlink:to="iret_IndentifiedIntangibleLiabilitiesAccumulatedAmortization_lbl2" xlink:title="label: IndentifiedIntangibleLiabilitiesAccumulatedAmortization to iret_IndentifiedIntangibleLiabilitiesAccumulatedAmortization_lbl2" />
    <link:loc xlink:type="locator" xlink:href="iret-20130131.xsd#iret_IndentifiedIntangibleLiabilitiesNet" xlink:label="IndentifiedIntangibleLiabilitiesNet" xlink:title="IndentifiedIntangibleLiabilitiesNet" />
    <link:label xlink:type="resource" xlink:label="iret_IndentifiedIntangibleLiabilitiesNet_lbl" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:title="iret_IndentifiedIntangibleLiabilitiesNet_lbl" xml:lang="en-US" id="iret_IndentifiedIntangibleLiabilitiesNet_lbl">Indentified intangible liabilities, net.</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="IndentifiedIntangibleLiabilitiesNet" xlink:to="iret_IndentifiedIntangibleLiabilitiesNet_lbl" xlink:title="label: IndentifiedIntangibleLiabilitiesNet to iret_IndentifiedIntangibleLiabilitiesNet_lbl" />
    <link:label xlink:type="resource" xlink:label="iret_IndentifiedIntangibleLiabilitiesNet_lbl1" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="iret_IndentifiedIntangibleLiabilitiesNet_lbl1" xml:lang="en-US" id="iret_IndentifiedIntangibleLiabilitiesNet_lbl1">Indentified intangible liabilities, net</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="IndentifiedIntangibleLiabilitiesNet" xlink:to="iret_IndentifiedIntangibleLiabilitiesNet_lbl1" xlink:title="label: IndentifiedIntangibleLiabilitiesNet to iret_IndentifiedIntangibleLiabilitiesNet_lbl1" />
    <link:label xlink:type="resource" xlink:label="iret_IndentifiedIntangibleLiabilitiesNet_lbl2" xlink:role="http://www.xbrl.org/2003/role/totalLabel" xlink:title="iret_IndentifiedIntangibleLiabilitiesNet_lbl2" xml:lang="en-US" id="iret_IndentifiedIntangibleLiabilitiesNet_lbl2">Indentified intangible liabilities, net</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="IndentifiedIntangibleLiabilitiesNet" xlink:to="iret_IndentifiedIntangibleLiabilitiesNet_lbl2" xlink:title="label: IndentifiedIntangibleLiabilitiesNet to iret_IndentifiedIntangibleLiabilitiesNet_lbl2" />
    <link:loc xlink:type="locator" xlink:href="iret-20130131.xsd#iret_ReclassificationsAbstract" xlink:label="ReclassificationsAbstract" xlink:title="ReclassificationsAbstract" />
    <link:label xlink:type="resource" xlink:label="iret_ReclassificationsAbstract_lbl1" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="iret_ReclassificationsAbstract_lbl1" xml:lang="en-US" id="iret_ReclassificationsAbstract_lbl1">Reclassifications [Abstract]</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ReclassificationsAbstract" xlink:to="iret_ReclassificationsAbstract_lbl1" xlink:title="label: ReclassificationsAbstract to iret_ReclassificationsAbstract_lbl1" />
    <link:label xlink:type="resource" xlink:label="iret_ReclassificationsAbstract_lbl2" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:title="iret_ReclassificationsAbstract_lbl2" xml:lang="en-US" id="iret_ReclassificationsAbstract_lbl2">RECLASSIFICATIONS [Abstract]</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ReclassificationsAbstract" xlink:to="iret_ReclassificationsAbstract_lbl2" xlink:title="label: ReclassificationsAbstract to iret_ReclassificationsAbstract_lbl2" />
    <link:loc xlink:type="locator" xlink:href="iret-20130131.xsd#iret_NumberOfCondominiumsSold" xlink:label="NumberOfCondominiumsSold" xlink:title="NumberOfCondominiumsSold" />
    <link:label xlink:type="resource" xlink:label="iret_NumberOfCondominiumsSold_lbl" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:title="iret_NumberOfCondominiumsSold_lbl" xml:lang="en-US" id="iret_NumberOfCondominiumsSold_lbl">The number of condominiums sold.</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="NumberOfCondominiumsSold" xlink:to="iret_NumberOfCondominiumsSold_lbl" xlink:title="label: NumberOfCondominiumsSold to iret_NumberOfCondominiumsSold_lbl" />
    <link:label xlink:type="resource" xlink:label="iret_NumberOfCondominiumsSold_lbl1" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="iret_NumberOfCondominiumsSold_lbl1" xml:lang="en-US" id="iret_NumberOfCondominiumsSold_lbl1">Number of condominiums sold</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="NumberOfCondominiumsSold" xlink:to="iret_NumberOfCondominiumsSold_lbl1" xlink:title="label: NumberOfCondominiumsSold to iret_NumberOfCondominiumsSold_lbl1" />
    <link:loc xlink:type="locator" xlink:href="iret-20130131.xsd#iret_NumberOfMulti-FamilyResidentialPropertiesSold" xlink:label="NumberOfMulti-FamilyResidentialPropertiesSold" xlink:title="NumberOfMulti-FamilyResidentialPropertiesSold" />
    <link:label xlink:type="resource" xlink:label="iret_NumberOfMulti-FamilyResidentialPropertiesSold_lbl" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:title="iret_NumberOfMulti-FamilyResidentialPropertiesSold_lbl" xml:lang="en-US" id="iret_NumberOfMulti-FamilyResidentialPropertiesSold_lbl">Number of multi-family residential properties sold.</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="NumberOfMulti-FamilyResidentialPropertiesSold" xlink:to="iret_NumberOfMulti-FamilyResidentialPropertiesSold_lbl" xlink:title="label: NumberOfMulti-FamilyResidentialPropertiesSold to iret_NumberOfMulti-FamilyResidentialPropertiesSold_lbl" />
    <link:label xlink:type="resource" xlink:label="iret_NumberOfMulti-FamilyResidentialPropertiesSold_lbl1" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="iret_NumberOfMulti-FamilyResidentialPropertiesSold_lbl1" xml:lang="en-US" id="iret_NumberOfMulti-FamilyResidentialPropertiesSold_lbl1">Number of multi-family residential properties sold</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="NumberOfMulti-FamilyResidentialPropertiesSold" xlink:to="iret_NumberOfMulti-FamilyResidentialPropertiesSold_lbl1" xlink:title="label: NumberOfMulti-FamilyResidentialPropertiesSold to iret_NumberOfMulti-FamilyResidentialPropertiesSold_lbl1" />
    <link:loc xlink:type="locator" xlink:href="iret-20130131.xsd#iret_TaxableReitSubsdiaryAbstract" xlink:label="TaxableReitSubsdiaryAbstract" xlink:title="TaxableReitSubsdiaryAbstract" />
    <link:label xlink:type="resource" xlink:label="iret_TaxableReitSubsdiaryAbstract_lbl1" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="iret_TaxableReitSubsdiaryAbstract_lbl1" xml:lang="en-US" id="iret_TaxableReitSubsdiaryAbstract_lbl1">Taxable REIT subsdiary [Abstract]</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="TaxableReitSubsdiaryAbstract" xlink:to="iret_TaxableReitSubsdiaryAbstract_lbl1" xlink:title="label: TaxableReitSubsdiaryAbstract to iret_TaxableReitSubsdiaryAbstract_lbl1" />
    <link:label xlink:type="resource" xlink:label="iret_TaxableReitSubsdiaryAbstract_lbl2" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:title="iret_TaxableReitSubsdiaryAbstract_lbl2" xml:lang="en-US" id="iret_TaxableReitSubsdiaryAbstract_lbl2">TAXABLE REIT SUBSIDIARY [Abstract]</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="TaxableReitSubsdiaryAbstract" xlink:to="iret_TaxableReitSubsdiaryAbstract_lbl2" xlink:title="label: TaxableReitSubsdiaryAbstract to iret_TaxableReitSubsdiaryAbstract_lbl2" />
    <link:loc xlink:type="locator" xlink:href="iret-20130131.xsd#iret_NumberOfSeniorHousingProjects" xlink:label="NumberOfSeniorHousingProjects" xlink:title="NumberOfSeniorHousingProjects" />
    <link:label xlink:type="resource" xlink:label="iret_NumberOfSeniorHousingProjects_lbl" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:title="iret_NumberOfSeniorHousingProjects_lbl" xml:lang="en-US" id="iret_NumberOfSeniorHousingProjects_lbl">Number of senior housing projects.</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="NumberOfSeniorHousingProjects" xlink:to="iret_NumberOfSeniorHousingProjects_lbl" xlink:title="label: NumberOfSeniorHousingProjects to iret_NumberOfSeniorHousingProjects_lbl" />
    <link:label xlink:type="resource" xlink:label="iret_NumberOfSeniorHousingProjects_lbl1" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="iret_NumberOfSeniorHousingProjects_lbl1" xml:lang="en-US" id="iret_NumberOfSeniorHousingProjects_lbl1">Number of senior housing projects</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="NumberOfSeniorHousingProjects" xlink:to="iret_NumberOfSeniorHousingProjects_lbl1" xlink:title="label: NumberOfSeniorHousingProjects to iret_NumberOfSeniorHousingProjects_lbl1" />
    <link:loc xlink:type="locator" xlink:href="iret-20130131.xsd#iret_InvoluntaryConversionOfAssetsAbstract" xlink:label="InvoluntaryConversionOfAssetsAbstract" xlink:title="InvoluntaryConversionOfAssetsAbstract" />
    <link:label xlink:type="resource" xlink:label="iret_InvoluntaryConversionOfAssetsAbstract_lbl1" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="iret_InvoluntaryConversionOfAssetsAbstract_lbl1" xml:lang="en-US" id="iret_InvoluntaryConversionOfAssetsAbstract_lbl1">INVOLUNTARY CONVERSION OF ASSETS [Abstract]</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="InvoluntaryConversionOfAssetsAbstract" xlink:to="iret_InvoluntaryConversionOfAssetsAbstract_lbl1" xlink:title="label: InvoluntaryConversionOfAssetsAbstract to iret_InvoluntaryConversionOfAssetsAbstract_lbl1" />
    <link:loc xlink:type="locator" xlink:href="iret-20130131.xsd#iret_NumberOf32UnitBuildings" xlink:label="NumberOf32UnitBuildings" xlink:title="NumberOf32UnitBuildings" />
    <link:label xlink:type="resource" xlink:label="iret_NumberOf32UnitBuildings_lbl" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:title="iret_NumberOf32UnitBuildings_lbl" xml:lang="en-US" id="iret_NumberOf32UnitBuildings_lbl">Number of 32 unit buildings.</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="NumberOf32UnitBuildings" xlink:to="iret_NumberOf32UnitBuildings_lbl" xlink:title="label: NumberOf32UnitBuildings to iret_NumberOf32UnitBuildings_lbl" />
    <link:label xlink:type="resource" xlink:label="iret_NumberOf32UnitBuildings_lbl1" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="iret_NumberOf32UnitBuildings_lbl1" xml:lang="en-US" id="iret_NumberOf32UnitBuildings_lbl1">Number of 32 unit buildings</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="NumberOf32UnitBuildings" xlink:to="iret_NumberOf32UnitBuildings_lbl1" xlink:title="label: NumberOf32UnitBuildings to iret_NumberOf32UnitBuildings_lbl1" />
    <link:label xlink:type="resource" xlink:label="iret_NumberOf32UnitBuildings_lbl2" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:title="iret_NumberOf32UnitBuildings_lbl2" xml:lang="en-US" id="iret_NumberOf32UnitBuildings_lbl2">Number of 32-unit buildings</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="NumberOf32UnitBuildings" xlink:to="iret_NumberOf32UnitBuildings_lbl2" xlink:title="label: NumberOf32UnitBuildings to iret_NumberOf32UnitBuildings_lbl2" />
    <link:loc xlink:type="locator" xlink:href="iret-20130131.xsd#iret_ExpensedFloodAndFireInsuranceDeductibles" xlink:label="ExpensedFloodAndFireInsuranceDeductibles" xlink:title="ExpensedFloodAndFireInsuranceDeductibles" />
    <link:label xlink:type="resource" xlink:label="iret_ExpensedFloodAndFireInsuranceDeductibles_lbl" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:title="iret_ExpensedFloodAndFireInsuranceDeductibles_lbl" xml:lang="en-US" id="iret_ExpensedFloodAndFireInsuranceDeductibles_lbl">The expense in the period related to  flood and fire insurance deductibles.</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ExpensedFloodAndFireInsuranceDeductibles" xlink:to="iret_ExpensedFloodAndFireInsuranceDeductibles_lbl" xlink:title="label: ExpensedFloodAndFireInsuranceDeductibles to iret_ExpensedFloodAndFireInsuranceDeductibles_lbl" />
    <link:label xlink:type="resource" xlink:label="iret_ExpensedFloodAndFireInsuranceDeductibles_lbl1" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="iret_ExpensedFloodAndFireInsuranceDeductibles_lbl1" xml:lang="en-US" id="iret_ExpensedFloodAndFireInsuranceDeductibles_lbl1">Expensed Flood And Fire Insurance Deductibles</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ExpensedFloodAndFireInsuranceDeductibles" xlink:to="iret_ExpensedFloodAndFireInsuranceDeductibles_lbl1" xlink:title="label: ExpensedFloodAndFireInsuranceDeductibles to iret_ExpensedFloodAndFireInsuranceDeductibles_lbl1" />
    <link:label xlink:type="resource" xlink:label="iret_ExpensedFloodAndFireInsuranceDeductibles_lbl2" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:title="iret_ExpensedFloodAndFireInsuranceDeductibles_lbl2" xml:lang="en-US" id="iret_ExpensedFloodAndFireInsuranceDeductibles_lbl2">Expensed flood and fire insurance deductibles</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ExpensedFloodAndFireInsuranceDeductibles" xlink:to="iret_ExpensedFloodAndFireInsuranceDeductibles_lbl2" xlink:title="label: ExpensedFloodAndFireInsuranceDeductibles to iret_ExpensedFloodAndFireInsuranceDeductibles_lbl2" />
    <link:loc xlink:type="locator" xlink:href="iret-20130131.xsd#iret_DeductibleAmountForLossesToBeCoveredUnderInsurancePolicy" xlink:label="DeductibleAmountForLossesToBeCoveredUnderInsurancePolicy" xlink:title="DeductibleAmountForLossesToBeCoveredUnderInsurancePolicy" />
    <link:label xlink:type="resource" xlink:label="iret_DeductibleAmountForLossesToBeCoveredUnderInsurancePolicy_lbl" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:title="iret_DeductibleAmountForLossesToBeCoveredUnderInsurancePolicy_lbl" xml:lang="en-US" id="iret_DeductibleAmountForLossesToBeCoveredUnderInsurancePolicy_lbl">Deductible amount for losses to be covered under insurance policy.</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="DeductibleAmountForLossesToBeCoveredUnderInsurancePolicy" xlink:to="iret_DeductibleAmountForLossesToBeCoveredUnderInsurancePolicy_lbl" xlink:title="label: DeductibleAmountForLossesToBeCoveredUnderInsurancePolicy to iret_DeductibleAmountForLossesToBeCoveredUnderInsurancePolicy_lbl" />
    <link:label xlink:type="resource" xlink:label="iret_DeductibleAmountForLossesToBeCoveredUnderInsurancePolicy_lbl1" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="iret_DeductibleAmountForLossesToBeCoveredUnderInsurancePolicy_lbl1" xml:lang="en-US" id="iret_DeductibleAmountForLossesToBeCoveredUnderInsurancePolicy_lbl1">Deductible amount for losses to be covered under insurance policy</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="DeductibleAmountForLossesToBeCoveredUnderInsurancePolicy" xlink:to="iret_DeductibleAmountForLossesToBeCoveredUnderInsurancePolicy_lbl1" xlink:title="label: DeductibleAmountForLossesToBeCoveredUnderInsurancePolicy to iret_DeductibleAmountForLossesToBeCoveredUnderInsurancePolicy_lbl1" />
    <link:loc xlink:type="locator" xlink:href="iret-20130131.xsd#iret_InsuranceProceedsReceivedForFloodCleanUpCostsAndRedevelopment" xlink:label="InsuranceProceedsReceivedForFloodCleanUpCostsAndRedevelopment" xlink:title="InsuranceProceedsReceivedForFloodCleanUpCostsAndRedevelopment" />
    <link:label xlink:type="resource" xlink:label="iret_InsuranceProceedsReceivedForFloodCleanUpCostsAndRedevelopment_lbl" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:title="iret_InsuranceProceedsReceivedForFloodCleanUpCostsAndRedevelopment_lbl" xml:lang="en-US" id="iret_InsuranceProceedsReceivedForFloodCleanUpCostsAndRedevelopment_lbl">Insurance proceeds received for flood clean up costs and redevelopment.</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="InsuranceProceedsReceivedForFloodCleanUpCostsAndRedevelopment" xlink:to="iret_InsuranceProceedsReceivedForFloodCleanUpCostsAndRedevelopment_lbl" xlink:title="label: InsuranceProceedsReceivedForFloodCleanUpCostsAndRedevelopment to iret_InsuranceProceedsReceivedForFloodCleanUpCostsAndRedevelopment_lbl" />
    <link:label xlink:type="resource" xlink:label="iret_InsuranceProceedsReceivedForFloodCleanUpCostsAndRedevelopment_lbl1" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="iret_InsuranceProceedsReceivedForFloodCleanUpCostsAndRedevelopment_lbl1" xml:lang="en-US" id="iret_InsuranceProceedsReceivedForFloodCleanUpCostsAndRedevelopment_lbl1">Insurance proceeds received for flood clean up costs and redevelopment</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="InsuranceProceedsReceivedForFloodCleanUpCostsAndRedevelopment" xlink:to="iret_InsuranceProceedsReceivedForFloodCleanUpCostsAndRedevelopment_lbl1" xlink:title="label: InsuranceProceedsReceivedForFloodCleanUpCostsAndRedevelopment to iret_InsuranceProceedsReceivedForFloodCleanUpCostsAndRedevelopment_lbl1" />
    <link:loc xlink:type="locator" xlink:href="iret-20130131.xsd#iret_EstimatedGainOnInvoluntaryConversion" xlink:label="EstimatedGainOnInvoluntaryConversion" xlink:title="EstimatedGainOnInvoluntaryConversion" />
    <link:label xlink:type="resource" xlink:label="iret_EstimatedGainOnInvoluntaryConversion_lbl" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:title="iret_EstimatedGainOnInvoluntaryConversion_lbl" xml:lang="en-US" id="iret_EstimatedGainOnInvoluntaryConversion_lbl">Estimated gain on involuntary conversion.</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="EstimatedGainOnInvoluntaryConversion" xlink:to="iret_EstimatedGainOnInvoluntaryConversion_lbl" xlink:title="label: EstimatedGainOnInvoluntaryConversion to iret_EstimatedGainOnInvoluntaryConversion_lbl" />
    <link:label xlink:type="resource" xlink:label="iret_EstimatedGainOnInvoluntaryConversion_lbl1" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="iret_EstimatedGainOnInvoluntaryConversion_lbl1" xml:lang="en-US" id="iret_EstimatedGainOnInvoluntaryConversion_lbl1">Estimated gain on involuntary conversion</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="EstimatedGainOnInvoluntaryConversion" xlink:to="iret_EstimatedGainOnInvoluntaryConversion_lbl1" xlink:title="label: EstimatedGainOnInvoluntaryConversion to iret_EstimatedGainOnInvoluntaryConversion_lbl1" />
    <link:loc xlink:type="locator" xlink:href="iret-20130131.xsd#iret_InsuranceProceedsReceivedForRedevelopment" xlink:label="InsuranceProceedsReceivedForRedevelopment" xlink:title="InsuranceProceedsReceivedForRedevelopment" />
    <link:label xlink:type="resource" xlink:label="iret_InsuranceProceedsReceivedForRedevelopment_lbl" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:title="iret_InsuranceProceedsReceivedForRedevelopment_lbl" xml:lang="en-US" id="iret_InsuranceProceedsReceivedForRedevelopment_lbl">Insurance proceeds received for redevelopment related to fire loss.</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="InsuranceProceedsReceivedForRedevelopment" xlink:to="iret_InsuranceProceedsReceivedForRedevelopment_lbl" xlink:title="label: InsuranceProceedsReceivedForRedevelopment to iret_InsuranceProceedsReceivedForRedevelopment_lbl" />
    <link:label xlink:type="resource" xlink:label="iret_InsuranceProceedsReceivedForRedevelopment_lbl1" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="iret_InsuranceProceedsReceivedForRedevelopment_lbl1" xml:lang="en-US" id="iret_InsuranceProceedsReceivedForRedevelopment_lbl1">Insurance proceeds received for redevelopment</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="InsuranceProceedsReceivedForRedevelopment" xlink:to="iret_InsuranceProceedsReceivedForRedevelopment_lbl1" xlink:title="label: InsuranceProceedsReceivedForRedevelopment to iret_InsuranceProceedsReceivedForRedevelopment_lbl1" />
    <link:loc xlink:type="locator" xlink:href="iret-20130131.xsd#iret_InsuranceProceedsReceivedForBusinessInterruptionFromFloodAndFire" xlink:label="InsuranceProceedsReceivedForBusinessInterruptionFromFloodAndFire" xlink:title="InsuranceProceedsReceivedForBusinessInterruptionFromFloodAndFire" />
    <link:label xlink:type="resource" xlink:label="iret_InsuranceProceedsReceivedForBusinessInterruptionFromFloodAndFire_lbl" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:title="iret_InsuranceProceedsReceivedForBusinessInterruptionFromFloodAndFire_lbl" xml:lang="en-US" id="iret_InsuranceProceedsReceivedForBusinessInterruptionFromFloodAndFire_lbl">The insurance proceeds received for business interruption from the flood and fire.</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="InsuranceProceedsReceivedForBusinessInterruptionFromFloodAndFire" xlink:to="iret_InsuranceProceedsReceivedForBusinessInterruptionFromFloodAndFire_lbl" xlink:title="label: InsuranceProceedsReceivedForBusinessInterruptionFromFloodAndFire to iret_InsuranceProceedsReceivedForBusinessInterruptionFromFloodAndFire_lbl" />
    <link:label xlink:type="resource" xlink:label="iret_InsuranceProceedsReceivedForBusinessInterruptionFromFloodAndFire_lbl1" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="iret_InsuranceProceedsReceivedForBusinessInterruptionFromFloodAndFire_lbl1" xml:lang="en-US" id="iret_InsuranceProceedsReceivedForBusinessInterruptionFromFloodAndFire_lbl1">Insurance proceeds received for business interruption from the flood and fire</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="InsuranceProceedsReceivedForBusinessInterruptionFromFloodAndFire" xlink:to="iret_InsuranceProceedsReceivedForBusinessInterruptionFromFloodAndFire_lbl1" xlink:title="label: InsuranceProceedsReceivedForBusinessInterruptionFromFloodAndFire to iret_InsuranceProceedsReceivedForBusinessInterruptionFromFloodAndFire_lbl1" />
    <link:loc xlink:type="locator" xlink:href="iret-20130131.xsd#iret_InsuranceProceedsReceivedForTotalBusinessInterruptionProceeds" xlink:label="InsuranceProceedsReceivedForTotalBusinessInterruptionProceeds" xlink:title="InsuranceProceedsReceivedForTotalBusinessInterruptionProceeds" />
    <link:label xlink:type="resource" xlink:label="iret_InsuranceProceedsReceivedForTotalBusinessInterruptionProceeds_lbl" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:title="iret_InsuranceProceedsReceivedForTotalBusinessInterruptionProceeds_lbl" xml:lang="en-US" id="iret_InsuranceProceedsReceivedForTotalBusinessInterruptionProceeds_lbl">The insurance proceeds received for total business interruption proceeds.</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="InsuranceProceedsReceivedForTotalBusinessInterruptionProceeds" xlink:to="iret_InsuranceProceedsReceivedForTotalBusinessInterruptionProceeds_lbl" xlink:title="label: InsuranceProceedsReceivedForTotalBusinessInterruptionProceeds to iret_InsuranceProceedsReceivedForTotalBusinessInterruptionProceeds_lbl" />
    <link:label xlink:type="resource" xlink:label="iret_InsuranceProceedsReceivedForTotalBusinessInterruptionProceeds_lbl1" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="iret_InsuranceProceedsReceivedForTotalBusinessInterruptionProceeds_lbl1" xml:lang="en-US" id="iret_InsuranceProceedsReceivedForTotalBusinessInterruptionProceeds_lbl1">Insurance proceeds received for total business interruption proceeds</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="InsuranceProceedsReceivedForTotalBusinessInterruptionProceeds" xlink:to="iret_InsuranceProceedsReceivedForTotalBusinessInterruptionProceeds_lbl1" xlink:title="label: InsuranceProceedsReceivedForTotalBusinessInterruptionProceeds to iret_InsuranceProceedsReceivedForTotalBusinessInterruptionProceeds_lbl1" />
    <link:loc xlink:type="locator" xlink:href="iret-20130131.xsd#iret_InsuranceClaimOnTotalBusinessInterruption" xlink:label="InsuranceClaimOnTotalBusinessInterruption" xlink:title="InsuranceClaimOnTotalBusinessInterruption" />
    <link:label xlink:type="resource" xlink:label="iret_InsuranceClaimOnTotalBusinessInterruption_lbl" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:title="iret_InsuranceClaimOnTotalBusinessInterruption_lbl" xml:lang="en-US" id="iret_InsuranceClaimOnTotalBusinessInterruption_lbl">The insurance claim on total business interruption during the period.</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="InsuranceClaimOnTotalBusinessInterruption" xlink:to="iret_InsuranceClaimOnTotalBusinessInterruption_lbl" xlink:title="label: InsuranceClaimOnTotalBusinessInterruption to iret_InsuranceClaimOnTotalBusinessInterruption_lbl" />
    <link:label xlink:type="resource" xlink:label="iret_InsuranceClaimOnTotalBusinessInterruption_lbl1" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="iret_InsuranceClaimOnTotalBusinessInterruption_lbl1" xml:lang="en-US" id="iret_InsuranceClaimOnTotalBusinessInterruption_lbl1">Insurance claim on total business interruption</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="InsuranceClaimOnTotalBusinessInterruption" xlink:to="iret_InsuranceClaimOnTotalBusinessInterruption_lbl1" xlink:title="label: InsuranceClaimOnTotalBusinessInterruption to iret_InsuranceClaimOnTotalBusinessInterruption_lbl1" />
    <link:loc xlink:type="locator" xlink:href="iret-20130131.xsd#iret_MultiFamilyResidentialMember" xlink:label="MultiFamilyResidentialMember" xlink:title="MultiFamilyResidentialMember" />
    <link:label xlink:type="resource" xlink:label="iret_MultiFamilyResidentialMember_lbl" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:title="iret_MultiFamilyResidentialMember_lbl" xml:lang="en-US" id="iret_MultiFamilyResidentialMember_lbl">A business segment for reporting the information separately.</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="MultiFamilyResidentialMember" xlink:to="iret_MultiFamilyResidentialMember_lbl" xlink:title="label: MultiFamilyResidentialMember to iret_MultiFamilyResidentialMember_lbl" />
    <link:label xlink:type="resource" xlink:label="iret_MultiFamilyResidentialMember_lbl1" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="iret_MultiFamilyResidentialMember_lbl1" xml:lang="en-US" id="iret_MultiFamilyResidentialMember_lbl1">Multi Family Residential [Member]</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="MultiFamilyResidentialMember" xlink:to="iret_MultiFamilyResidentialMember_lbl1" xlink:title="label: MultiFamilyResidentialMember to iret_MultiFamilyResidentialMember_lbl1" />
    <link:label xlink:type="resource" xlink:label="iret_MultiFamilyResidentialMember_lbl2" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:title="iret_MultiFamilyResidentialMember_lbl2" xml:lang="en-US" id="iret_MultiFamilyResidentialMember_lbl2">Multi-Family Residential [Member]</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="MultiFamilyResidentialMember" xlink:to="iret_MultiFamilyResidentialMember_lbl2" xlink:title="label: MultiFamilyResidentialMember to iret_MultiFamilyResidentialMember_lbl2" />
    <link:loc xlink:type="locator" xlink:href="iret-20130131.xsd#iret_CommercialOfficeMember" xlink:label="CommercialOfficeMember" xlink:title="CommercialOfficeMember" />
    <link:label xlink:type="resource" xlink:label="iret_CommercialOfficeMember_lbl" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:title="iret_CommercialOfficeMember_lbl" xml:lang="en-US" id="iret_CommercialOfficeMember_lbl">A business segment for reporting the information separately.</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="CommercialOfficeMember" xlink:to="iret_CommercialOfficeMember_lbl" xlink:title="label: CommercialOfficeMember to iret_CommercialOfficeMember_lbl" />
    <link:label xlink:type="resource" xlink:label="iret_CommercialOfficeMember_lbl1" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="iret_CommercialOfficeMember_lbl1" xml:lang="en-US" id="iret_CommercialOfficeMember_lbl1">Commercial Office [Member]</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="CommercialOfficeMember" xlink:to="iret_CommercialOfficeMember_lbl1" xlink:title="label: CommercialOfficeMember to iret_CommercialOfficeMember_lbl1" />
    <link:label xlink:type="resource" xlink:label="iret_CommercialOfficeMember_lbl2" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:title="iret_CommercialOfficeMember_lbl2" xml:lang="en-US" id="iret_CommercialOfficeMember_lbl2">Commercial-Office [Member]</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="CommercialOfficeMember" xlink:to="iret_CommercialOfficeMember_lbl2" xlink:title="label: CommercialOfficeMember to iret_CommercialOfficeMember_lbl2" />
    <link:loc xlink:type="locator" xlink:href="iret-20130131.xsd#iret_CommercialMedicalMember" xlink:label="CommercialMedicalMember" xlink:title="CommercialMedicalMember" />
    <link:label xlink:type="resource" xlink:label="iret_CommercialMedicalMember_lbl" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:title="iret_CommercialMedicalMember_lbl" xml:lang="en-US" id="iret_CommercialMedicalMember_lbl">A business segment for reporting the information separately.</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="CommercialMedicalMember" xlink:to="iret_CommercialMedicalMember_lbl" xlink:title="label: CommercialMedicalMember to iret_CommercialMedicalMember_lbl" />
    <link:label xlink:type="resource" xlink:label="iret_CommercialMedicalMember_lbl1" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="iret_CommercialMedicalMember_lbl1" xml:lang="en-US" id="iret_CommercialMedicalMember_lbl1">Commercial Medical [Member]</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="CommercialMedicalMember" xlink:to="iret_CommercialMedicalMember_lbl1" xlink:title="label: CommercialMedicalMember to iret_CommercialMedicalMember_lbl1" />
    <link:label xlink:type="resource" xlink:label="iret_CommercialMedicalMember_lbl2" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:title="iret_CommercialMedicalMember_lbl2" xml:lang="en-US" id="iret_CommercialMedicalMember_lbl2">Commercial-Medical [Member]</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="CommercialMedicalMember" xlink:to="iret_CommercialMedicalMember_lbl2" xlink:title="label: CommercialMedicalMember to iret_CommercialMedicalMember_lbl2" />
    <link:loc xlink:type="locator" xlink:href="iret-20130131.xsd#iret_CommercialIndustrialMember" xlink:label="CommercialIndustrialMember" xlink:title="CommercialIndustrialMember" />
    <link:label xlink:type="resource" xlink:label="iret_CommercialIndustrialMember_lbl" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:title="iret_CommercialIndustrialMember_lbl" xml:lang="en-US" id="iret_CommercialIndustrialMember_lbl">A business segment for reporting the information separately.</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="CommercialIndustrialMember" xlink:to="iret_CommercialIndustrialMember_lbl" xlink:title="label: CommercialIndustrialMember to iret_CommercialIndustrialMember_lbl" />
    <link:label xlink:type="resource" xlink:label="iret_CommercialIndustrialMember_lbl1" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="iret_CommercialIndustrialMember_lbl1" xml:lang="en-US" id="iret_CommercialIndustrialMember_lbl1">Commercial Industrial [Member]</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="CommercialIndustrialMember" xlink:to="iret_CommercialIndustrialMember_lbl1" xlink:title="label: CommercialIndustrialMember to iret_CommercialIndustrialMember_lbl1" />
    <link:label xlink:type="resource" xlink:label="iret_CommercialIndustrialMember_lbl2" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:title="iret_CommercialIndustrialMember_lbl2" xml:lang="en-US" id="iret_CommercialIndustrialMember_lbl2">Commercial-Industrial [Member]</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="CommercialIndustrialMember" xlink:to="iret_CommercialIndustrialMember_lbl2" xlink:title="label: CommercialIndustrialMember to iret_CommercialIndustrialMember_lbl2" />
    <link:loc xlink:type="locator" xlink:href="iret-20130131.xsd#iret_CommercialRetailMember" xlink:label="CommercialRetailMember" xlink:title="CommercialRetailMember" />
    <link:label xlink:type="resource" xlink:label="iret_CommercialRetailMember_lbl" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:title="iret_CommercialRetailMember_lbl" xml:lang="en-US" id="iret_CommercialRetailMember_lbl">A business segment for reporting the information separately.</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="CommercialRetailMember" xlink:to="iret_CommercialRetailMember_lbl" xlink:title="label: CommercialRetailMember to iret_CommercialRetailMember_lbl" />
    <link:label xlink:type="resource" xlink:label="iret_CommercialRetailMember_lbl1" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="iret_CommercialRetailMember_lbl1" xml:lang="en-US" id="iret_CommercialRetailMember_lbl1">Commercial Retail [Member]</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="CommercialRetailMember" xlink:to="iret_CommercialRetailMember_lbl1" xlink:title="label: CommercialRetailMember to iret_CommercialRetailMember_lbl1" />
    <link:label xlink:type="resource" xlink:label="iret_CommercialRetailMember_lbl2" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:title="iret_CommercialRetailMember_lbl2" xml:lang="en-US" id="iret_CommercialRetailMember_lbl2">Commercial-Retail [Member]</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="CommercialRetailMember" xlink:to="iret_CommercialRetailMember_lbl2" xlink:title="label: CommercialRetailMember to iret_CommercialRetailMember_lbl2" />
    <link:loc xlink:type="locator" xlink:href="iret-20130131.xsd#iret_DepreciationAndAmortizationIncludingRelatedToNonRealEstateInvestments" xlink:label="DepreciationAndAmortizationIncludingRelatedToNonRealEstateInvestments" xlink:title="DepreciationAndAmortizationIncludingRelatedToNonRealEstateInvestments" />
    <link:label xlink:type="resource" xlink:label="iret_DepreciationAndAmortizationIncludingRelatedToNonRealEstateInvestments_lbl" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:title="iret_DepreciationAndAmortizationIncludingRelatedToNonRealEstateInvestments_lbl" xml:lang="en-US" id="iret_DepreciationAndAmortizationIncludingRelatedToNonRealEstateInvestments_lbl">Depreciation and amortization including related to non real estate investments.</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="DepreciationAndAmortizationIncludingRelatedToNonRealEstateInvestments" xlink:to="iret_DepreciationAndAmortizationIncludingRelatedToNonRealEstateInvestments_lbl" xlink:title="label: DepreciationAndAmortizationIncludingRelatedToNonRealEstateInvestments to iret_DepreciationAndAmortizationIncludingRelatedToNonRealEstateInvestments_lbl" />
    <link:label xlink:type="resource" xlink:label="iret_DepreciationAndAmortizationIncludingRelatedToNonRealEstateInvestments_lbl1" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="iret_DepreciationAndAmortizationIncludingRelatedToNonRealEstateInvestments_lbl1" xml:lang="en-US" id="iret_DepreciationAndAmortizationIncludingRelatedToNonRealEstateInvestments_lbl1">Depreciation and amortization including related to non real estate investments</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="DepreciationAndAmortizationIncludingRelatedToNonRealEstateInvestments" xlink:to="iret_DepreciationAndAmortizationIncludingRelatedToNonRealEstateInvestments_lbl1" xlink:title="label: DepreciationAndAmortizationIncludingRelatedToNonRealEstateInvestments to iret_DepreciationAndAmortizationIncludingRelatedToNonRealEstateInvestments_lbl1" />
    <link:label xlink:type="resource" xlink:label="iret_DepreciationAndAmortizationIncludingRelatedToNonRealEstateInvestments_lbl2" xlink:role="http://www.xbrl.org/2009/role/negatedLabel" xlink:title="iret_DepreciationAndAmortizationIncludingRelatedToNonRealEstateInvestments_lbl2" xml:lang="en-US" id="iret_DepreciationAndAmortizationIncludingRelatedToNonRealEstateInvestments_lbl2">Depreciation/amortization</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="DepreciationAndAmortizationIncludingRelatedToNonRealEstateInvestments" xlink:to="iret_DepreciationAndAmortizationIncludingRelatedToNonRealEstateInvestments_lbl2" xlink:title="label: DepreciationAndAmortizationIncludingRelatedToNonRealEstateInvestments to iret_DepreciationAndAmortizationIncludingRelatedToNonRealEstateInvestments_lbl2" />
    <link:loc xlink:type="locator" xlink:href="iret-20130131.xsd#iret_AdministrativeAdvisoryAndTrusteeServices" xlink:label="AdministrativeAdvisoryAndTrusteeServices" xlink:title="AdministrativeAdvisoryAndTrusteeServices" />
    <link:label xlink:type="resource" xlink:label="iret_AdministrativeAdvisoryAndTrusteeServices_lbl" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:title="iret_AdministrativeAdvisoryAndTrusteeServices_lbl" xml:lang="en-US" id="iret_AdministrativeAdvisoryAndTrusteeServices_lbl">Administrative, advisory and trustee services.</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="AdministrativeAdvisoryAndTrusteeServices" xlink:to="iret_AdministrativeAdvisoryAndTrusteeServices_lbl" xlink:title="label: AdministrativeAdvisoryAndTrusteeServices to iret_AdministrativeAdvisoryAndTrusteeServices_lbl" />
    <link:label xlink:type="resource" xlink:label="iret_AdministrativeAdvisoryAndTrusteeServices_lbl1" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="iret_AdministrativeAdvisoryAndTrusteeServices_lbl1" xml:lang="en-US" id="iret_AdministrativeAdvisoryAndTrusteeServices_lbl1">Administrative, advisory and trustee services</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="AdministrativeAdvisoryAndTrusteeServices" xlink:to="iret_AdministrativeAdvisoryAndTrusteeServices_lbl1" xlink:title="label: AdministrativeAdvisoryAndTrusteeServices to iret_AdministrativeAdvisoryAndTrusteeServices_lbl1" />
    <link:label xlink:type="resource" xlink:label="iret_AdministrativeAdvisoryAndTrusteeServices_lbl2" xlink:role="http://www.xbrl.org/2009/role/negatedLabel" xlink:title="iret_AdministrativeAdvisoryAndTrusteeServices_lbl2" xml:lang="en-US" id="iret_AdministrativeAdvisoryAndTrusteeServices_lbl2">Administrative, advisory and trustee services</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="AdministrativeAdvisoryAndTrusteeServices" xlink:to="iret_AdministrativeAdvisoryAndTrusteeServices_lbl2" xlink:title="label: AdministrativeAdvisoryAndTrusteeServices to iret_AdministrativeAdvisoryAndTrusteeServices_lbl2" />
    <link:loc xlink:type="locator" xlink:href="iret-20130131.xsd#iret_ImpairmentOfRealEstateInvestments" xlink:label="ImpairmentOfRealEstateInvestments" xlink:title="ImpairmentOfRealEstateInvestments" />
    <link:label xlink:type="resource" xlink:label="iret_ImpairmentOfRealEstateInvestments_lbl" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:title="iret_ImpairmentOfRealEstateInvestments_lbl" xml:lang="en-US" id="iret_ImpairmentOfRealEstateInvestments_lbl">Impairment of real estate investments with different values from Cash Flows element.</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ImpairmentOfRealEstateInvestments" xlink:to="iret_ImpairmentOfRealEstateInvestments_lbl" xlink:title="label: ImpairmentOfRealEstateInvestments to iret_ImpairmentOfRealEstateInvestments_lbl" />
    <link:label xlink:type="resource" xlink:label="iret_ImpairmentOfRealEstateInvestments_lbl1" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="iret_ImpairmentOfRealEstateInvestments_lbl1" xml:lang="en-US" id="iret_ImpairmentOfRealEstateInvestments_lbl1">Impairment of real estate investments</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ImpairmentOfRealEstateInvestments" xlink:to="iret_ImpairmentOfRealEstateInvestments_lbl1" xlink:title="label: ImpairmentOfRealEstateInvestments to iret_ImpairmentOfRealEstateInvestments_lbl1" />
    <link:label xlink:type="resource" xlink:label="iret_ImpairmentOfRealEstateInvestments_lbl2" xlink:role="http://www.xbrl.org/2009/role/negatedLabel" xlink:title="iret_ImpairmentOfRealEstateInvestments_lbl2" xml:lang="en-US" id="iret_ImpairmentOfRealEstateInvestments_lbl2">Impairment of real estate investments</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ImpairmentOfRealEstateInvestments" xlink:to="iret_ImpairmentOfRealEstateInvestments_lbl2" xlink:title="label: ImpairmentOfRealEstateInvestments to iret_ImpairmentOfRealEstateInvestments_lbl2" />
    <link:loc xlink:type="locator" xlink:href="iret-20130131.xsd#iret_ReceivablesAndOtherAssets" xlink:label="ReceivablesAndOtherAssets" xlink:title="ReceivablesAndOtherAssets" />
    <link:label xlink:type="resource" xlink:label="iret_ReceivablesAndOtherAssets_lbl" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:title="iret_ReceivablesAndOtherAssets_lbl" xml:lang="en-US" id="iret_ReceivablesAndOtherAssets_lbl">Receivables and other assets.</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ReceivablesAndOtherAssets" xlink:to="iret_ReceivablesAndOtherAssets_lbl" xlink:title="label: ReceivablesAndOtherAssets to iret_ReceivablesAndOtherAssets_lbl" />
    <link:label xlink:type="resource" xlink:label="iret_ReceivablesAndOtherAssets_lbl1" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="iret_ReceivablesAndOtherAssets_lbl1" xml:lang="en-US" id="iret_ReceivablesAndOtherAssets_lbl1">Receivables and other assets</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ReceivablesAndOtherAssets" xlink:to="iret_ReceivablesAndOtherAssets_lbl1" xlink:title="label: ReceivablesAndOtherAssets to iret_ReceivablesAndOtherAssets_lbl1" />
    <link:loc xlink:type="locator" xlink:href="iret-20130131.xsd#iret_Iret_NumberOfCondominiumSold" xlink:label="Iret_NumberOfCondominiumSold" xlink:title="Iret_NumberOfCondominiumSold" />
    <link:label xlink:type="resource" xlink:label="iret_Iret_NumberOfCondominiumSold_lbl" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:title="iret_Iret_NumberOfCondominiumSold_lbl" xml:lang="en-US" id="iret_Iret_NumberOfCondominiumSold_lbl">Number of condominium units sold.</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="Iret_NumberOfCondominiumSold" xlink:to="iret_Iret_NumberOfCondominiumSold_lbl" xlink:title="label: Iret_NumberOfCondominiumSold to iret_Iret_NumberOfCondominiumSold_lbl" />
    <link:label xlink:type="resource" xlink:label="iret_Iret_NumberOfCondominiumSold_lbl1" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="iret_Iret_NumberOfCondominiumSold_lbl1" xml:lang="en-US" id="iret_Iret_NumberOfCondominiumSold_lbl1">Number Of Condominium Units Sold</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="Iret_NumberOfCondominiumSold" xlink:to="iret_Iret_NumberOfCondominiumSold_lbl1" xlink:title="label: Iret_NumberOfCondominiumSold to iret_Iret_NumberOfCondominiumSold_lbl1" />
    <link:loc xlink:type="locator" xlink:href="iret-20130131.xsd#iret_NumberOfApartmentComplexesSold" xlink:label="NumberOfApartmentComplexesSold" xlink:title="NumberOfApartmentComplexesSold" />
    <link:label xlink:type="resource" xlink:label="iret_NumberOfApartmentComplexesSold_lbl" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:title="iret_NumberOfApartmentComplexesSold_lbl" xml:lang="en-US" id="iret_NumberOfApartmentComplexesSold_lbl">Number of apartment complexes sold.</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="NumberOfApartmentComplexesSold" xlink:to="iret_NumberOfApartmentComplexesSold_lbl" xlink:title="label: NumberOfApartmentComplexesSold to iret_NumberOfApartmentComplexesSold_lbl" />
    <link:label xlink:type="resource" xlink:label="iret_NumberOfApartmentComplexesSold_lbl1" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="iret_NumberOfApartmentComplexesSold_lbl1" xml:lang="en-US" id="iret_NumberOfApartmentComplexesSold_lbl1">Number of apartment complexes sold</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="NumberOfApartmentComplexesSold" xlink:to="iret_NumberOfApartmentComplexesSold_lbl1" xlink:title="label: NumberOfApartmentComplexesSold to iret_NumberOfApartmentComplexesSold_lbl1" />
    <link:loc xlink:type="locator" xlink:href="iret-20130131.xsd#iret_NumberOfRetailPropertiesSold" xlink:label="NumberOfRetailPropertiesSold" xlink:title="NumberOfRetailPropertiesSold" />
    <link:label xlink:type="resource" xlink:label="iret_NumberOfRetailPropertiesSold_lbl" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:title="iret_NumberOfRetailPropertiesSold_lbl" xml:lang="en-US" id="iret_NumberOfRetailPropertiesSold_lbl">Number of retail properties sold.</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="NumberOfRetailPropertiesSold" xlink:to="iret_NumberOfRetailPropertiesSold_lbl" xlink:title="label: NumberOfRetailPropertiesSold to iret_NumberOfRetailPropertiesSold_lbl" />
    <link:label xlink:type="resource" xlink:label="iret_NumberOfRetailPropertiesSold_lbl1" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="iret_NumberOfRetailPropertiesSold_lbl1" xml:lang="en-US" id="iret_NumberOfRetailPropertiesSold_lbl1">Number of retail properties sold</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="NumberOfRetailPropertiesSold" xlink:to="iret_NumberOfRetailPropertiesSold_lbl1" xlink:title="label: NumberOfRetailPropertiesSold to iret_NumberOfRetailPropertiesSold_lbl1" />
    <link:loc xlink:type="locator" xlink:href="iret-20130131.xsd#iret_ResultsOfOperationsFromAcquiredPropertiesTextBlock" xlink:label="ResultsOfOperationsFromAcquiredPropertiesTextBlock" xlink:title="ResultsOfOperationsFromAcquiredPropertiesTextBlock" />
    <link:label xlink:type="resource" xlink:label="iret_ResultsOfOperationsFromAcquiredPropertiesTextBlock_lbl" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:title="iret_ResultsOfOperationsFromAcquiredPropertiesTextBlock_lbl" xml:lang="en-US" id="iret_ResultsOfOperationsFromAcquiredPropertiesTextBlock_lbl">Tabular disclosure of results of operations from acquired properties included in the Condensed Consolidated Statements of Operations as of acquisition date.</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ResultsOfOperationsFromAcquiredPropertiesTextBlock" xlink:to="iret_ResultsOfOperationsFromAcquiredPropertiesTextBlock_lbl" xlink:title="label: ResultsOfOperationsFromAcquiredPropertiesTextBlock to iret_ResultsOfOperationsFromAcquiredPropertiesTextBlock_lbl" />
    <link:label xlink:type="resource" xlink:label="iret_ResultsOfOperationsFromAcquiredPropertiesTextBlock_lbl1" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="iret_ResultsOfOperationsFromAcquiredPropertiesTextBlock_lbl1" xml:lang="en-US" id="iret_ResultsOfOperationsFromAcquiredPropertiesTextBlock_lbl1">Results of operations from acquired properties [Text Block]</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ResultsOfOperationsFromAcquiredPropertiesTextBlock" xlink:to="iret_ResultsOfOperationsFromAcquiredPropertiesTextBlock_lbl1" xlink:title="label: ResultsOfOperationsFromAcquiredPropertiesTextBlock to iret_ResultsOfOperationsFromAcquiredPropertiesTextBlock_lbl1" />
    <link:label xlink:type="resource" xlink:label="iret_ResultsOfOperationsFromAcquiredPropertiesTextBlock_lbl2" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:title="iret_ResultsOfOperationsFromAcquiredPropertiesTextBlock_lbl2" xml:lang="en-US" id="iret_ResultsOfOperationsFromAcquiredPropertiesTextBlock_lbl2">Results of operations from acquired properties</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ResultsOfOperationsFromAcquiredPropertiesTextBlock" xlink:to="iret_ResultsOfOperationsFromAcquiredPropertiesTextBlock_lbl2" xlink:title="label: ResultsOfOperationsFromAcquiredPropertiesTextBlock to iret_ResultsOfOperationsFromAcquiredPropertiesTextBlock_lbl2" />
    <link:loc xlink:type="locator" xlink:href="iret-20130131.xsd#iret_BusinessAcquisitionByStatusOfPropertyAcquiredAxis" xlink:label="BusinessAcquisitionByStatusOfPropertyAcquiredAxis" xlink:title="BusinessAcquisitionByStatusOfPropertyAcquiredAxis" />
    <link:label xlink:type="resource" xlink:label="iret_BusinessAcquisitionByStatusOfPropertyAcquiredAxis_lbl" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:title="iret_BusinessAcquisitionByStatusOfPropertyAcquiredAxis_lbl" xml:lang="en-US" id="iret_BusinessAcquisitionByStatusOfPropertyAcquiredAxis_lbl">Information of status of property acquired.</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="BusinessAcquisitionByStatusOfPropertyAcquiredAxis" xlink:to="iret_BusinessAcquisitionByStatusOfPropertyAcquiredAxis_lbl" xlink:title="label: BusinessAcquisitionByStatusOfPropertyAcquiredAxis to iret_BusinessAcquisitionByStatusOfPropertyAcquiredAxis_lbl" />
    <link:label xlink:type="resource" xlink:label="iret_BusinessAcquisitionByStatusOfPropertyAcquiredAxis_lbl1" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="iret_BusinessAcquisitionByStatusOfPropertyAcquiredAxis_lbl1" xml:lang="en-US" id="iret_BusinessAcquisitionByStatusOfPropertyAcquiredAxis_lbl1">Business Acquisition, By Status of Property Acquired [Axis]</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="BusinessAcquisitionByStatusOfPropertyAcquiredAxis" xlink:to="iret_BusinessAcquisitionByStatusOfPropertyAcquiredAxis_lbl1" xlink:title="label: BusinessAcquisitionByStatusOfPropertyAcquiredAxis to iret_BusinessAcquisitionByStatusOfPropertyAcquiredAxis_lbl1" />
    <link:loc xlink:type="locator" xlink:href="iret-20130131.xsd#iret_BusinessAcquisitionByStatusOfPropertyAcquiredDomain" xlink:label="BusinessAcquisitionByStatusOfPropertyAcquiredDomain" xlink:title="BusinessAcquisitionByStatusOfPropertyAcquiredDomain" />
    <link:label xlink:type="resource" xlink:label="iret_BusinessAcquisitionByStatusOfPropertyAcquiredDomain_lbl" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:title="iret_BusinessAcquisitionByStatusOfPropertyAcquiredDomain_lbl" xml:lang="en-US" id="iret_BusinessAcquisitionByStatusOfPropertyAcquiredDomain_lbl">Identification of the status of property acquired.</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="BusinessAcquisitionByStatusOfPropertyAcquiredDomain" xlink:to="iret_BusinessAcquisitionByStatusOfPropertyAcquiredDomain_lbl" xlink:title="label: BusinessAcquisitionByStatusOfPropertyAcquiredDomain to iret_BusinessAcquisitionByStatusOfPropertyAcquiredDomain_lbl" />
    <link:label xlink:type="resource" xlink:label="iret_BusinessAcquisitionByStatusOfPropertyAcquiredDomain_lbl1" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="iret_BusinessAcquisitionByStatusOfPropertyAcquiredDomain_lbl1" xml:lang="en-US" id="iret_BusinessAcquisitionByStatusOfPropertyAcquiredDomain_lbl1">Business Acquisition, By Status of Property Acquired [Domain]</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="BusinessAcquisitionByStatusOfPropertyAcquiredDomain" xlink:to="iret_BusinessAcquisitionByStatusOfPropertyAcquiredDomain_lbl1" xlink:title="label: BusinessAcquisitionByStatusOfPropertyAcquiredDomain to iret_BusinessAcquisitionByStatusOfPropertyAcquiredDomain_lbl1" />
    <link:loc xlink:type="locator" xlink:href="iret-20130131.xsd#iret_DevelopmentProjectsPlacedInServiceMember" xlink:label="DevelopmentProjectsPlacedInServiceMember" xlink:title="DevelopmentProjectsPlacedInServiceMember" />
    <link:label xlink:type="resource" xlink:label="iret_DevelopmentProjectsPlacedInServiceMember_lbl" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:title="iret_DevelopmentProjectsPlacedInServiceMember_lbl" xml:lang="en-US" id="iret_DevelopmentProjectsPlacedInServiceMember_lbl">Property acquired by development projects placed in service.</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="DevelopmentProjectsPlacedInServiceMember" xlink:to="iret_DevelopmentProjectsPlacedInServiceMember_lbl" xlink:title="label: DevelopmentProjectsPlacedInServiceMember to iret_DevelopmentProjectsPlacedInServiceMember_lbl" />
    <link:label xlink:type="resource" xlink:label="iret_DevelopmentProjectsPlacedInServiceMember_lbl1" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="iret_DevelopmentProjectsPlacedInServiceMember_lbl1" xml:lang="en-US" id="iret_DevelopmentProjectsPlacedInServiceMember_lbl1">Development Projects Placed in Service [Member]</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="DevelopmentProjectsPlacedInServiceMember" xlink:to="iret_DevelopmentProjectsPlacedInServiceMember_lbl1" xlink:title="label: DevelopmentProjectsPlacedInServiceMember to iret_DevelopmentProjectsPlacedInServiceMember_lbl1" />
    <link:loc xlink:type="locator" xlink:href="iret-20130131.xsd#iret_BadgerHills-RochesterMnMember" xlink:label="BadgerHills-RochesterMnMember" xlink:title="BadgerHills-RochesterMnMember" />
    <link:label xlink:type="resource" xlink:label="iret_BadgerHills-RochesterMnMember_lbl" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:title="iret_BadgerHills-RochesterMnMember_lbl" xml:lang="en-US" id="iret_BadgerHills-RochesterMnMember_lbl">Badger Hills - Rochester, MN property acquired or disposed.</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="BadgerHills-RochesterMnMember" xlink:to="iret_BadgerHills-RochesterMnMember_lbl" xlink:title="label: BadgerHills-RochesterMnMember to iret_BadgerHills-RochesterMnMember_lbl" />
    <link:label xlink:type="resource" xlink:label="iret_BadgerHills-RochesterMnMember_lbl1" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="iret_BadgerHills-RochesterMnMember_lbl1" xml:lang="en-US" id="iret_BadgerHills-RochesterMnMember_lbl1">Badger Hills - Rochester, MN [Member]</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="BadgerHills-RochesterMnMember" xlink:to="iret_BadgerHills-RochesterMnMember_lbl1" xlink:title="label: BadgerHills-RochesterMnMember to iret_BadgerHills-RochesterMnMember_lbl1" />
    <link:loc xlink:type="locator" xlink:href="iret-20130131.xsd#iret_BuffaloMallPropertyInJamestownNorthDakotaMember" xlink:label="BuffaloMallPropertyInJamestownNorthDakotaMember" xlink:title="BuffaloMallPropertyInJamestownNorthDakotaMember" />
    <link:label xlink:type="resource" xlink:label="iret_BuffaloMallPropertyInJamestownNorthDakotaMember_lbl" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:title="iret_BuffaloMallPropertyInJamestownNorthDakotaMember_lbl" xml:lang="en-US" id="iret_BuffaloMallPropertyInJamestownNorthDakotaMember_lbl">Buffalo Mall property in Jamestown, North Dakota acquired or disposed.</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="BuffaloMallPropertyInJamestownNorthDakotaMember" xlink:to="iret_BuffaloMallPropertyInJamestownNorthDakotaMember_lbl" xlink:title="label: BuffaloMallPropertyInJamestownNorthDakotaMember to iret_BuffaloMallPropertyInJamestownNorthDakotaMember_lbl" />
    <link:label xlink:type="resource" xlink:label="iret_BuffaloMallPropertyInJamestownNorthDakotaMember_lbl1" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="iret_BuffaloMallPropertyInJamestownNorthDakotaMember_lbl1" xml:lang="en-US" id="iret_BuffaloMallPropertyInJamestownNorthDakotaMember_lbl1">Buffalo Mall property in Jamestown, North Dakota [Member]</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="BuffaloMallPropertyInJamestownNorthDakotaMember" xlink:to="iret_BuffaloMallPropertyInJamestownNorthDakotaMember_lbl1" xlink:title="label: BuffaloMallPropertyInJamestownNorthDakotaMember to iret_BuffaloMallPropertyInJamestownNorthDakotaMember_lbl1" />
    <link:loc xlink:type="locator" xlink:href="iret-20130131.xsd#iret_Candlelight-FargoNdMember" xlink:label="Candlelight-FargoNdMember" xlink:title="Candlelight-FargoNdMember" />
    <link:label xlink:type="resource" xlink:label="iret_Candlelight-FargoNdMember_lbl" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:title="iret_Candlelight-FargoNdMember_lbl" xml:lang="en-US" id="iret_Candlelight-FargoNdMember_lbl">Candlelight - Fargo, ND property acquired or disposed.</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="Candlelight-FargoNdMember" xlink:to="iret_Candlelight-FargoNdMember_lbl" xlink:title="label: Candlelight-FargoNdMember to iret_Candlelight-FargoNdMember_lbl" />
    <link:label xlink:type="resource" xlink:label="iret_Candlelight-FargoNdMember_lbl1" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="iret_Candlelight-FargoNdMember_lbl1" xml:lang="en-US" id="iret_Candlelight-FargoNdMember_lbl1">Candlelight - Fargo, ND [Member]</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="Candlelight-FargoNdMember" xlink:to="iret_Candlelight-FargoNdMember_lbl1" xlink:title="label: Candlelight-FargoNdMember to iret_Candlelight-FargoNdMember_lbl1" />
    <link:loc xlink:type="locator" xlink:href="iret-20130131.xsd#iret_Colony-LincolnNeMember" xlink:label="Colony-LincolnNeMember" xlink:title="Colony-LincolnNeMember" />
    <link:label xlink:type="resource" xlink:label="iret_Colony-LincolnNeMember_lbl" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:title="iret_Colony-LincolnNeMember_lbl" xml:lang="en-US" id="iret_Colony-LincolnNeMember_lbl">Colony - Lincoln, NE property acquired or disposed.</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="Colony-LincolnNeMember" xlink:to="iret_Colony-LincolnNeMember_lbl" xlink:title="label: Colony-LincolnNeMember to iret_Colony-LincolnNeMember_lbl" />
    <link:label xlink:type="resource" xlink:label="iret_Colony-LincolnNeMember_lbl1" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="iret_Colony-LincolnNeMember_lbl1" xml:lang="en-US" id="iret_Colony-LincolnNeMember_lbl1">Colony - Lincoln, NE [Member]</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="Colony-LincolnNeMember" xlink:to="iret_Colony-LincolnNeMember_lbl1" xlink:title="label: Colony-LincolnNeMember to iret_Colony-LincolnNeMember_lbl1" />
    <link:loc xlink:type="locator" xlink:href="iret-20130131.xsd#iret_CommonsAtSouthgate-MinotNdMember" xlink:label="CommonsAtSouthgate-MinotNdMember" xlink:title="CommonsAtSouthgate-MinotNdMember" />
    <link:label xlink:type="resource" xlink:label="iret_CommonsAtSouthgate-MinotNdMember_lbl" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:title="iret_CommonsAtSouthgate-MinotNdMember_lbl" xml:lang="en-US" id="iret_CommonsAtSouthgate-MinotNdMember_lbl">Commons at Southgate - Minot, ND property acquired or disposed.</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="CommonsAtSouthgate-MinotNdMember" xlink:to="iret_CommonsAtSouthgate-MinotNdMember_lbl" xlink:title="label: CommonsAtSouthgate-MinotNdMember to iret_CommonsAtSouthgate-MinotNdMember_lbl" />
    <link:label xlink:type="resource" xlink:label="iret_CommonsAtSouthgate-MinotNdMember_lbl1" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="iret_CommonsAtSouthgate-MinotNdMember_lbl1" xml:lang="en-US" id="iret_CommonsAtSouthgate-MinotNdMember_lbl1">Commons at Southgate - Minot, ND [Member]</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="CommonsAtSouthgate-MinotNdMember" xlink:to="iret_CommonsAtSouthgate-MinotNdMember_lbl1" xlink:title="label: CommonsAtSouthgate-MinotNdMember to iret_CommonsAtSouthgate-MinotNdMember_lbl1" />
    <link:loc xlink:type="locator" xlink:href="iret-20130131.xsd#iret_CondominiumUnitsMember" xlink:label="CondominiumUnitsMember" xlink:title="CondominiumUnitsMember" />
    <link:label xlink:type="resource" xlink:label="iret_CondominiumUnitsMember_lbl" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:title="iret_CondominiumUnitsMember_lbl" xml:lang="en-US" id="iret_CondominiumUnitsMember_lbl">Condominium units acquired or disposed.</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="CondominiumUnitsMember" xlink:to="iret_CondominiumUnitsMember_lbl" xlink:title="label: CondominiumUnitsMember to iret_CondominiumUnitsMember_lbl" />
    <link:label xlink:type="resource" xlink:label="iret_CondominiumUnitsMember_lbl1" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="iret_CondominiumUnitsMember_lbl1" xml:lang="en-US" id="iret_CondominiumUnitsMember_lbl1">Condominium Units [Member]</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="CondominiumUnitsMember" xlink:to="iret_CondominiumUnitsMember_lbl1" xlink:title="label: CondominiumUnitsMember to iret_CondominiumUnitsMember_lbl1" />
    <link:loc xlink:type="locator" xlink:href="iret-20130131.xsd#iret_CottageWestTwinHomes-SiouxFallsSdMember" xlink:label="CottageWestTwinHomes-SiouxFallsSdMember" xlink:title="CottageWestTwinHomes-SiouxFallsSdMember" />
    <link:label xlink:type="resource" xlink:label="iret_CottageWestTwinHomes-SiouxFallsSdMember_lbl" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:title="iret_CottageWestTwinHomes-SiouxFallsSdMember_lbl" xml:lang="en-US" id="iret_CottageWestTwinHomes-SiouxFallsSdMember_lbl">Cottage West Twin Homes - Sioux Falls, SD property acquired or disposed.</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="CottageWestTwinHomes-SiouxFallsSdMember" xlink:to="iret_CottageWestTwinHomes-SiouxFallsSdMember_lbl" xlink:title="label: CottageWestTwinHomes-SiouxFallsSdMember to iret_CottageWestTwinHomes-SiouxFallsSdMember_lbl" />
    <link:label xlink:type="resource" xlink:label="iret_CottageWestTwinHomes-SiouxFallsSdMember_lbl1" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="iret_CottageWestTwinHomes-SiouxFallsSdMember_lbl1" xml:lang="en-US" id="iret_CottageWestTwinHomes-SiouxFallsSdMember_lbl1">Cottage West Twin Homes - Sioux Falls, SD [Member]</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="CottageWestTwinHomes-SiouxFallsSdMember" xlink:to="iret_CottageWestTwinHomes-SiouxFallsSdMember_lbl1" xlink:title="label: CottageWestTwinHomes-SiouxFallsSdMember to iret_CottageWestTwinHomes-SiouxFallsSdMember_lbl1" />
    <link:loc xlink:type="locator" xlink:href="iret-20130131.xsd#iret_QuarryRidgeIi-RochesterMnMember" xlink:label="QuarryRidgeIi-RochesterMnMember" xlink:title="QuarryRidgeIi-RochesterMnMember" />
    <link:label xlink:type="resource" xlink:label="iret_QuarryRidgeIi-RochesterMnMember_lbl" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:title="iret_QuarryRidgeIi-RochesterMnMember_lbl" xml:lang="en-US" id="iret_QuarryRidgeIi-RochesterMnMember_lbl">Quarry Ridge II - Rochester, MN property acquired or disposed.</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="QuarryRidgeIi-RochesterMnMember" xlink:to="iret_QuarryRidgeIi-RochesterMnMember_lbl" xlink:title="label: QuarryRidgeIi-RochesterMnMember to iret_QuarryRidgeIi-RochesterMnMember_lbl" />
    <link:label xlink:type="resource" xlink:label="iret_QuarryRidgeIi-RochesterMnMember_lbl1" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="iret_QuarryRidgeIi-RochesterMnMember_lbl1" xml:lang="en-US" id="iret_QuarryRidgeIi-RochesterMnMember_lbl1">Quarry Ridge II - Rochester, MN [Member]</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="QuarryRidgeIi-RochesterMnMember" xlink:to="iret_QuarryRidgeIi-RochesterMnMember_lbl1" xlink:title="label: QuarryRidgeIi-RochesterMnMember to iret_QuarryRidgeIi-RochesterMnMember_lbl1" />
    <link:loc xlink:type="locator" xlink:href="iret-20130131.xsd#iret_CypressCourt-StCloudMnMember" xlink:label="CypressCourt-StCloudMnMember" xlink:title="CypressCourt-StCloudMnMember" />
    <link:label xlink:type="resource" xlink:label="iret_CypressCourt-StCloudMnMember_lbl" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:title="iret_CypressCourt-StCloudMnMember_lbl" xml:lang="en-US" id="iret_CypressCourt-StCloudMnMember_lbl">Cypress Court - St. Cloud, MN property acquired or disposed.</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="CypressCourt-StCloudMnMember" xlink:to="iret_CypressCourt-StCloudMnMember_lbl" xlink:title="label: CypressCourt-StCloudMnMember to iret_CypressCourt-StCloudMnMember_lbl" />
    <link:label xlink:type="resource" xlink:label="iret_CypressCourt-StCloudMnMember_lbl1" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="iret_CypressCourt-StCloudMnMember_lbl1" xml:lang="en-US" id="iret_CypressCourt-StCloudMnMember_lbl1">Cypress Court - St. Cloud, MN [Member]</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="CypressCourt-StCloudMnMember" xlink:to="iret_CypressCourt-StCloudMnMember_lbl1" xlink:title="label: CypressCourt-StCloudMnMember to iret_CypressCourt-StCloudMnMember_lbl1" />
    <link:loc xlink:type="locator" xlink:href="iret-20130131.xsd#iret_Edina6525DrewAveS-EdinaMnMember" xlink:label="Edina6525DrewAveS-EdinaMnMember" xlink:title="Edina6525DrewAveS-EdinaMnMember" />
    <link:label xlink:type="resource" xlink:label="iret_Edina6525DrewAveS-EdinaMnMember_lbl" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:title="iret_Edina6525DrewAveS-EdinaMnMember_lbl" xml:lang="en-US" id="iret_Edina6525DrewAveS-EdinaMnMember_lbl">Edina 6525 Drew Ave S - Edina, MN property acquired or disposed.</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="Edina6525DrewAveS-EdinaMnMember" xlink:to="iret_Edina6525DrewAveS-EdinaMnMember_lbl" xlink:title="label: Edina6525DrewAveS-EdinaMnMember to iret_Edina6525DrewAveS-EdinaMnMember_lbl" />
    <link:label xlink:type="resource" xlink:label="iret_Edina6525DrewAveS-EdinaMnMember_lbl1" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="iret_Edina6525DrewAveS-EdinaMnMember_lbl1" xml:lang="en-US" id="iret_Edina6525DrewAveS-EdinaMnMember_lbl1">Edina 6525 Drew Ave S - Edina, MN [Member]</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="Edina6525DrewAveS-EdinaMnMember" xlink:to="iret_Edina6525DrewAveS-EdinaMnMember_lbl1" xlink:title="label: Edina6525DrewAveS-EdinaMnMember to iret_Edina6525DrewAveS-EdinaMnMember_lbl1" />
    <link:loc xlink:type="locator" xlink:href="iret-20130131.xsd#iret_EvergreenIi-IsantiMnMember" xlink:label="EvergreenIi-IsantiMnMember" xlink:title="EvergreenIi-IsantiMnMember" />
    <link:label xlink:type="resource" xlink:label="iret_EvergreenIi-IsantiMnMember_lbl" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:title="iret_EvergreenIi-IsantiMnMember_lbl" xml:lang="en-US" id="iret_EvergreenIi-IsantiMnMember_lbl">Evergreen II - Isanti, MN property acquired or disposed.</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="EvergreenIi-IsantiMnMember" xlink:to="iret_EvergreenIi-IsantiMnMember_lbl" xlink:title="label: EvergreenIi-IsantiMnMember to iret_EvergreenIi-IsantiMnMember_lbl" />
    <link:label xlink:type="resource" xlink:label="iret_EvergreenIi-IsantiMnMember_lbl1" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="iret_EvergreenIi-IsantiMnMember_lbl1" xml:lang="en-US" id="iret_EvergreenIi-IsantiMnMember_lbl1">Evergreen II - Isanti, MN [Member]</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="EvergreenIi-IsantiMnMember" xlink:to="iret_EvergreenIi-IsantiMnMember_lbl1" xlink:title="label: EvergreenIi-IsantiMnMember to iret_EvergreenIi-IsantiMnMember_lbl1" />
    <link:loc xlink:type="locator" xlink:href="iret-20130131.xsd#iret_GablesTownhomes-SiouxFallsSdMember" xlink:label="GablesTownhomes-SiouxFallsSdMember" xlink:title="GablesTownhomes-SiouxFallsSdMember" />
    <link:label xlink:type="resource" xlink:label="iret_GablesTownhomes-SiouxFallsSdMember_lbl" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:title="iret_GablesTownhomes-SiouxFallsSdMember_lbl" xml:lang="en-US" id="iret_GablesTownhomes-SiouxFallsSdMember_lbl">Gables Townhomes - Sioux Falls, SD property acquired or disposed.</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="GablesTownhomes-SiouxFallsSdMember" xlink:to="iret_GablesTownhomes-SiouxFallsSdMember_lbl" xlink:title="label: GablesTownhomes-SiouxFallsSdMember to iret_GablesTownhomes-SiouxFallsSdMember_lbl" />
    <link:label xlink:type="resource" xlink:label="iret_GablesTownhomes-SiouxFallsSdMember_lbl1" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="iret_GablesTownhomes-SiouxFallsSdMember_lbl1" xml:lang="en-US" id="iret_GablesTownhomes-SiouxFallsSdMember_lbl1">Gables Townhomes - Sioux Falls, SD [Member]</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="GablesTownhomes-SiouxFallsSdMember" xlink:to="iret_GablesTownhomes-SiouxFallsSdMember_lbl1" xlink:title="label: GablesTownhomes-SiouxFallsSdMember to iret_GablesTownhomes-SiouxFallsSdMember_lbl1" />
    <link:loc xlink:type="locator" xlink:href="iret-20130131.xsd#iret_GeorgetownSquareCondominiums5And6Member" xlink:label="GeorgetownSquareCondominiums5And6Member" xlink:title="GeorgetownSquareCondominiums5And6Member" />
    <link:label xlink:type="resource" xlink:label="iret_GeorgetownSquareCondominiums5And6Member_lbl" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:title="iret_GeorgetownSquareCondominiums5And6Member_lbl" xml:lang="en-US" id="iret_GeorgetownSquareCondominiums5And6Member_lbl">Georgetown Square Condominiums 5 and 6 property acquired or disposed.</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="GeorgetownSquareCondominiums5And6Member" xlink:to="iret_GeorgetownSquareCondominiums5And6Member_lbl" xlink:title="label: GeorgetownSquareCondominiums5And6Member to iret_GeorgetownSquareCondominiums5And6Member_lbl" />
    <link:label xlink:type="resource" xlink:label="iret_GeorgetownSquareCondominiums5And6Member_lbl1" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="iret_GeorgetownSquareCondominiums5And6Member_lbl1" xml:lang="en-US" id="iret_GeorgetownSquareCondominiums5And6Member_lbl1">Georgetown Square Condominiums 5 and 6 [Member]</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="GeorgetownSquareCondominiums5And6Member" xlink:to="iret_GeorgetownSquareCondominiums5And6Member_lbl1" xlink:title="label: GeorgetownSquareCondominiums5And6Member to iret_GeorgetownSquareCondominiums5And6Member_lbl1" />
    <link:loc xlink:type="locator" xlink:href="iret-20130131.xsd#iret_GeorgetownSquareCondominiums3And4Member" xlink:label="GeorgetownSquareCondominiums3And4Member" xlink:title="GeorgetownSquareCondominiums3And4Member" />
    <link:label xlink:type="resource" xlink:label="iret_GeorgetownSquareCondominiums3And4Member_lbl" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:title="iret_GeorgetownSquareCondominiums3And4Member_lbl" xml:lang="en-US" id="iret_GeorgetownSquareCondominiums3And4Member_lbl">Georgetown Square Condominiums 3 and 4 property acquired or disposed.</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="GeorgetownSquareCondominiums3And4Member" xlink:to="iret_GeorgetownSquareCondominiums3And4Member_lbl" xlink:title="label: GeorgetownSquareCondominiums3And4Member to iret_GeorgetownSquareCondominiums3And4Member_lbl" />
    <link:label xlink:type="resource" xlink:label="iret_GeorgetownSquareCondominiums3And4Member_lbl1" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="iret_GeorgetownSquareCondominiums3And4Member_lbl1" xml:lang="en-US" id="iret_GeorgetownSquareCondominiums3And4Member_lbl1">Georgetown Square Condominiums 3 and 4 [Member]</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="GeorgetownSquareCondominiums3And4Member" xlink:to="iret_GeorgetownSquareCondominiums3And4Member_lbl1" xlink:title="label: GeorgetownSquareCondominiums3And4Member to iret_GeorgetownSquareCondominiums3And4Member_lbl1" />
    <link:loc xlink:type="locator" xlink:href="iret-20130131.xsd#iret_GrandForksUnimproved-GrandForksNdMember" xlink:label="GrandForksUnimproved-GrandForksNdMember" xlink:title="GrandForksUnimproved-GrandForksNdMember" />
    <link:label xlink:type="resource" xlink:label="iret_GrandForksUnimproved-GrandForksNdMember_lbl" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:title="iret_GrandForksUnimproved-GrandForksNdMember_lbl" xml:lang="en-US" id="iret_GrandForksUnimproved-GrandForksNdMember_lbl">Grand Forks Unimproved - Grand Forks, ND property acquired or disposed.</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="GrandForksUnimproved-GrandForksNdMember" xlink:to="iret_GrandForksUnimproved-GrandForksNdMember_lbl" xlink:title="label: GrandForksUnimproved-GrandForksNdMember to iret_GrandForksUnimproved-GrandForksNdMember_lbl" />
    <link:label xlink:type="resource" xlink:label="iret_GrandForksUnimproved-GrandForksNdMember_lbl1" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="iret_GrandForksUnimproved-GrandForksNdMember_lbl1" xml:lang="en-US" id="iret_GrandForksUnimproved-GrandForksNdMember_lbl1">Grand Forks Unimproved - Grand Forks, ND [Member]</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="GrandForksUnimproved-GrandForksNdMember" xlink:to="iret_GrandForksUnimproved-GrandForksNdMember_lbl1" xlink:title="label: GrandForksUnimproved-GrandForksNdMember to iret_GrandForksUnimproved-GrandForksNdMember_lbl1" />
    <link:loc xlink:type="locator" xlink:href="iret-20130131.xsd#iret_HousingProjectsInBoiseIdahoAndTownsSurroundingBoiseMember" xlink:label="HousingProjectsInBoiseIdahoAndTownsSurroundingBoiseMember" xlink:title="HousingProjectsInBoiseIdahoAndTownsSurroundingBoiseMember" />
    <link:label xlink:type="resource" xlink:label="iret_HousingProjectsInBoiseIdahoAndTownsSurroundingBoiseMember_lbl" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:title="iret_HousingProjectsInBoiseIdahoAndTownsSurroundingBoiseMember_lbl" xml:lang="en-US" id="iret_HousingProjectsInBoiseIdahoAndTownsSurroundingBoiseMember_lbl">Housing projects in Boise, Idaho and towns surrounding Boise acquired or disposed.</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="HousingProjectsInBoiseIdahoAndTownsSurroundingBoiseMember" xlink:to="iret_HousingProjectsInBoiseIdahoAndTownsSurroundingBoiseMember_lbl" xlink:title="label: HousingProjectsInBoiseIdahoAndTownsSurroundingBoiseMember to iret_HousingProjectsInBoiseIdahoAndTownsSurroundingBoiseMember_lbl" />
    <link:label xlink:type="resource" xlink:label="iret_HousingProjectsInBoiseIdahoAndTownsSurroundingBoiseMember_lbl1" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="iret_HousingProjectsInBoiseIdahoAndTownsSurroundingBoiseMember_lbl1" xml:lang="en-US" id="iret_HousingProjectsInBoiseIdahoAndTownsSurroundingBoiseMember_lbl1">Housing projects in Boise, Idaho and towns surrounding Boise [Member]</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="HousingProjectsInBoiseIdahoAndTownsSurroundingBoiseMember" xlink:to="iret_HousingProjectsInBoiseIdahoAndTownsSurroundingBoiseMember_lbl1" xlink:title="label: HousingProjectsInBoiseIdahoAndTownsSurroundingBoiseMember to iret_HousingProjectsInBoiseIdahoAndTownsSurroundingBoiseMember_lbl1" />
    <link:loc xlink:type="locator" xlink:href="iret-20130131.xsd#iret_Industrial-OfficeBuild-To-Suit-MinotNdMember" xlink:label="Industrial-OfficeBuild-To-Suit-MinotNdMember" xlink:title="Industrial-OfficeBuild-To-Suit-MinotNdMember" />
    <link:label xlink:type="resource" xlink:label="iret_Industrial-OfficeBuild-To-Suit-MinotNdMember_lbl" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:title="iret_Industrial-OfficeBuild-To-Suit-MinotNdMember_lbl" xml:lang="en-US" id="iret_Industrial-OfficeBuild-To-Suit-MinotNdMember_lbl">Industrial-Office Build-to-Suit - Minot, ND property acquired or disposed.</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="Industrial-OfficeBuild-To-Suit-MinotNdMember" xlink:to="iret_Industrial-OfficeBuild-To-Suit-MinotNdMember_lbl" xlink:title="label: Industrial-OfficeBuild-To-Suit-MinotNdMember to iret_Industrial-OfficeBuild-To-Suit-MinotNdMember_lbl" />
    <link:label xlink:type="resource" xlink:label="iret_Industrial-OfficeBuild-To-Suit-MinotNdMember_lbl1" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="iret_Industrial-OfficeBuild-To-Suit-MinotNdMember_lbl1" xml:lang="en-US" id="iret_Industrial-OfficeBuild-To-Suit-MinotNdMember_lbl1">Industrial-Office Build-to-Suit - Minot, ND [Member]</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="Industrial-OfficeBuild-To-Suit-MinotNdMember" xlink:to="iret_Industrial-OfficeBuild-To-Suit-MinotNdMember_lbl1" xlink:title="label: Industrial-OfficeBuild-To-Suit-MinotNdMember to iret_Industrial-OfficeBuild-To-Suit-MinotNdMember_lbl1" />
    <link:loc xlink:type="locator" xlink:href="iret-20130131.xsd#iret_JamestownBuffaloMall-JamestownNdMember" xlink:label="JamestownBuffaloMall-JamestownNdMember" xlink:title="JamestownBuffaloMall-JamestownNdMember" />
    <link:label xlink:type="resource" xlink:label="iret_JamestownBuffaloMall-JamestownNdMember_lbl" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:title="iret_JamestownBuffaloMall-JamestownNdMember_lbl" xml:lang="en-US" id="iret_JamestownBuffaloMall-JamestownNdMember_lbl">Jamestown Buffalo Mall - Jamestown, ND property acquired or disposed.</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="JamestownBuffaloMall-JamestownNdMember" xlink:to="iret_JamestownBuffaloMall-JamestownNdMember_lbl" xlink:title="label: JamestownBuffaloMall-JamestownNdMember to iret_JamestownBuffaloMall-JamestownNdMember_lbl" />
    <link:label xlink:type="resource" xlink:label="iret_JamestownBuffaloMall-JamestownNdMember_lbl1" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="iret_JamestownBuffaloMall-JamestownNdMember_lbl1" xml:lang="en-US" id="iret_JamestownBuffaloMall-JamestownNdMember_lbl1">Jamestown Buffalo Mall - Jamestown, ND [Member]</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="JamestownBuffaloMall-JamestownNdMember" xlink:to="iret_JamestownBuffaloMall-JamestownNdMember_lbl1" xlink:title="label: JamestownBuffaloMall-JamestownNdMember to iret_JamestownBuffaloMall-JamestownNdMember_lbl1" />
    <link:loc xlink:type="locator" xlink:href="iret-20130131.xsd#iret_JamestownMedicalOfficeBuilding-JamestownNdMember" xlink:label="JamestownMedicalOfficeBuilding-JamestownNdMember" xlink:title="JamestownMedicalOfficeBuilding-JamestownNdMember" />
    <link:label xlink:type="resource" xlink:label="iret_JamestownMedicalOfficeBuilding-JamestownNdMember_lbl" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:title="iret_JamestownMedicalOfficeBuilding-JamestownNdMember_lbl" xml:lang="en-US" id="iret_JamestownMedicalOfficeBuilding-JamestownNdMember_lbl">Jamestown Medical Office Building - Jamestown, ND property acquired or disposed.</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="JamestownMedicalOfficeBuilding-JamestownNdMember" xlink:to="iret_JamestownMedicalOfficeBuilding-JamestownNdMember_lbl" xlink:title="label: JamestownMedicalOfficeBuilding-JamestownNdMember to iret_JamestownMedicalOfficeBuilding-JamestownNdMember_lbl" />
    <link:label xlink:type="resource" xlink:label="iret_JamestownMedicalOfficeBuilding-JamestownNdMember_lbl1" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="iret_JamestownMedicalOfficeBuilding-JamestownNdMember_lbl1" xml:lang="en-US" id="iret_JamestownMedicalOfficeBuilding-JamestownNdMember_lbl1">Jamestown Medical Office Building - Jamestown, ND [Member]</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="JamestownMedicalOfficeBuilding-JamestownNdMember" xlink:to="iret_JamestownMedicalOfficeBuilding-JamestownNdMember_lbl1" xlink:title="label: JamestownMedicalOfficeBuilding-JamestownNdMember to iret_JamestownMedicalOfficeBuilding-JamestownNdMember_lbl1" />
    <link:loc xlink:type="locator" xlink:href="iret-20130131.xsd#iret_KentwoodThomasville-KentwoodMiMember" xlink:label="KentwoodThomasville-KentwoodMiMember" xlink:title="KentwoodThomasville-KentwoodMiMember" />
    <link:label xlink:type="resource" xlink:label="iret_KentwoodThomasville-KentwoodMiMember_lbl" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:title="iret_KentwoodThomasville-KentwoodMiMember_lbl" xml:lang="en-US" id="iret_KentwoodThomasville-KentwoodMiMember_lbl">Kentwood Thomasville - Kentwood, MI property acquired or disposed.</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="KentwoodThomasville-KentwoodMiMember" xlink:to="iret_KentwoodThomasville-KentwoodMiMember_lbl" xlink:title="label: KentwoodThomasville-KentwoodMiMember to iret_KentwoodThomasville-KentwoodMiMember_lbl" />
    <link:label xlink:type="resource" xlink:label="iret_KentwoodThomasville-KentwoodMiMember_lbl1" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="iret_KentwoodThomasville-KentwoodMiMember_lbl1" xml:lang="en-US" id="iret_KentwoodThomasville-KentwoodMiMember_lbl1">Kentwood Thomasville - Kentwood, MI [Member]</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="KentwoodThomasville-KentwoodMiMember" xlink:to="iret_KentwoodThomasville-KentwoodMiMember_lbl1" xlink:title="label: KentwoodThomasville-KentwoodMiMember to iret_KentwoodThomasville-KentwoodMiMember_lbl1" />
    <link:loc xlink:type="locator" xlink:href="iret-20130131.xsd#iret_LakesideVillage-LincolnNeMember" xlink:label="LakesideVillage-LincolnNeMember" xlink:title="LakesideVillage-LincolnNeMember" />
    <link:label xlink:type="resource" xlink:label="iret_LakesideVillage-LincolnNeMember_lbl" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:title="iret_LakesideVillage-LincolnNeMember_lbl" xml:lang="en-US" id="iret_LakesideVillage-LincolnNeMember_lbl">Lakeside Village - Lincoln, NE property acquired or disposed.</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="LakesideVillage-LincolnNeMember" xlink:to="iret_LakesideVillage-LincolnNeMember_lbl" xlink:title="label: LakesideVillage-LincolnNeMember to iret_LakesideVillage-LincolnNeMember_lbl" />
    <link:label xlink:type="resource" xlink:label="iret_LakesideVillage-LincolnNeMember_lbl1" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="iret_LakesideVillage-LincolnNeMember_lbl1" xml:lang="en-US" id="iret_LakesideVillage-LincolnNeMember_lbl1">Lakeside Village - Lincoln, NE [Member]</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="LakesideVillage-LincolnNeMember" xlink:to="iret_LakesideVillage-LincolnNeMember_lbl1" xlink:title="label: LakesideVillage-LincolnNeMember to iret_LakesideVillage-LincolnNeMember_lbl1" />
    <link:loc xlink:type="locator" xlink:href="iret-20130131.xsd#iret_LandingAtSouthgate-MinotNdMember" xlink:label="LandingAtSouthgate-MinotNdMember" xlink:title="LandingAtSouthgate-MinotNdMember" />
    <link:label xlink:type="resource" xlink:label="iret_LandingAtSouthgate-MinotNdMember_lbl" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:title="iret_LandingAtSouthgate-MinotNdMember_lbl" xml:lang="en-US" id="iret_LandingAtSouthgate-MinotNdMember_lbl">Landing at Southgate - Minot, ND property acquired or disposed.</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="LandingAtSouthgate-MinotNdMember" xlink:to="iret_LandingAtSouthgate-MinotNdMember_lbl" xlink:title="label: LandingAtSouthgate-MinotNdMember to iret_LandingAtSouthgate-MinotNdMember_lbl" />
    <link:label xlink:type="resource" xlink:label="iret_LandingAtSouthgate-MinotNdMember_lbl1" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="iret_LandingAtSouthgate-MinotNdMember_lbl1" xml:lang="en-US" id="iret_LandingAtSouthgate-MinotNdMember_lbl1">Landing at Southgate - Minot, ND [Member]</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="LandingAtSouthgate-MinotNdMember" xlink:to="iret_LandingAtSouthgate-MinotNdMember_lbl1" xlink:title="label: LandingAtSouthgate-MinotNdMember to iret_LandingAtSouthgate-MinotNdMember_lbl1" />
    <link:loc xlink:type="locator" xlink:href="iret-20130131.xsd#iret_LivingstonePamida-LivingstonMtMember" xlink:label="LivingstonePamida-LivingstonMtMember" xlink:title="LivingstonePamida-LivingstonMtMember" />
    <link:label xlink:type="resource" xlink:label="iret_LivingstonePamida-LivingstonMtMember_lbl" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:title="iret_LivingstonePamida-LivingstonMtMember_lbl" xml:lang="en-US" id="iret_LivingstonePamida-LivingstonMtMember_lbl">Livingstone Pamida - Livingston, MT property acquired or disposed.</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="LivingstonePamida-LivingstonMtMember" xlink:to="iret_LivingstonePamida-LivingstonMtMember_lbl" xlink:title="label: LivingstonePamida-LivingstonMtMember to iret_LivingstonePamida-LivingstonMtMember_lbl" />
    <link:label xlink:type="resource" xlink:label="iret_LivingstonePamida-LivingstonMtMember_lbl1" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="iret_LivingstonePamida-LivingstonMtMember_lbl1" xml:lang="en-US" id="iret_LivingstonePamida-LivingstonMtMember_lbl1">Livingstone Pamida - Livingston, MT [Member]</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="LivingstonePamida-LivingstonMtMember" xlink:to="iret_LivingstonePamida-LivingstonMtMember_lbl1" xlink:title="label: LivingstonePamida-LivingstonMtMember to iret_LivingstonePamida-LivingstonMtMember_lbl1" />
    <link:loc xlink:type="locator" xlink:href="iret-20130131.xsd#iret_MeadowWindLand-CasperWyMember" xlink:label="MeadowWindLand-CasperWyMember" xlink:title="MeadowWindLand-CasperWyMember" />
    <link:label xlink:type="resource" xlink:label="iret_MeadowWindLand-CasperWyMember_lbl" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:title="iret_MeadowWindLand-CasperWyMember_lbl" xml:lang="en-US" id="iret_MeadowWindLand-CasperWyMember_lbl">Meadow Wind Land - Casper, WY property acquired or disposed.</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="MeadowWindLand-CasperWyMember" xlink:to="iret_MeadowWindLand-CasperWyMember_lbl" xlink:title="label: MeadowWindLand-CasperWyMember to iret_MeadowWindLand-CasperWyMember_lbl" />
    <link:label xlink:type="resource" xlink:label="iret_MeadowWindLand-CasperWyMember_lbl1" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="iret_MeadowWindLand-CasperWyMember_lbl1" xml:lang="en-US" id="iret_MeadowWindLand-CasperWyMember_lbl1">Meadow Wind Land - Casper, WY [Member]</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="MeadowWindLand-CasperWyMember" xlink:to="iret_MeadowWindLand-CasperWyMember_lbl1" xlink:title="label: MeadowWindLand-CasperWyMember to iret_MeadowWindLand-CasperWyMember_lbl1" />
    <link:loc xlink:type="locator" xlink:href="iret-20130131.xsd#iret_MeadowWindsAddition-CasperWyMember" xlink:label="MeadowWindsAddition-CasperWyMember" xlink:title="MeadowWindsAddition-CasperWyMember" />
    <link:label xlink:type="resource" xlink:label="iret_MeadowWindsAddition-CasperWyMember_lbl" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:title="iret_MeadowWindsAddition-CasperWyMember_lbl" xml:lang="en-US" id="iret_MeadowWindsAddition-CasperWyMember_lbl">Meadow Winds Addition - Casper, WY property acquired or disposed.</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="MeadowWindsAddition-CasperWyMember" xlink:to="iret_MeadowWindsAddition-CasperWyMember_lbl" xlink:title="label: MeadowWindsAddition-CasperWyMember to iret_MeadowWindsAddition-CasperWyMember_lbl" />
    <link:label xlink:type="resource" xlink:label="iret_MeadowWindsAddition-CasperWyMember_lbl1" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="iret_MeadowWindsAddition-CasperWyMember_lbl1" xml:lang="en-US" id="iret_MeadowWindsAddition-CasperWyMember_lbl1">Meadow Winds Addition - Casper, WY [Member]</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="MeadowWindsAddition-CasperWyMember" xlink:to="iret_MeadowWindsAddition-CasperWyMember_lbl1" xlink:title="label: MeadowWindsAddition-CasperWyMember to iret_MeadowWindsAddition-CasperWyMember_lbl1" />
    <link:loc xlink:type="locator" xlink:href="iret-20130131.xsd#iret_MedicalClinicInMinotNorthDakotaMember" xlink:label="MedicalClinicInMinotNorthDakotaMember" xlink:title="MedicalClinicInMinotNorthDakotaMember" />
    <link:label xlink:type="resource" xlink:label="iret_MedicalClinicInMinotNorthDakotaMember_lbl" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:title="iret_MedicalClinicInMinotNorthDakotaMember_lbl" xml:lang="en-US" id="iret_MedicalClinicInMinotNorthDakotaMember_lbl">Medical clinic in Minot, North Dakota acquired or disposed.</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="MedicalClinicInMinotNorthDakotaMember" xlink:to="iret_MedicalClinicInMinotNorthDakotaMember_lbl" xlink:title="label: MedicalClinicInMinotNorthDakotaMember to iret_MedicalClinicInMinotNorthDakotaMember_lbl" />
    <link:label xlink:type="resource" xlink:label="iret_MedicalClinicInMinotNorthDakotaMember_lbl1" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="iret_MedicalClinicInMinotNorthDakotaMember_lbl1" xml:lang="en-US" id="iret_MedicalClinicInMinotNorthDakotaMember_lbl1">Medical clinic in Minot, North Dakota [Member]</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="MedicalClinicInMinotNorthDakotaMember" xlink:to="iret_MedicalClinicInMinotNorthDakotaMember_lbl1" xlink:title="label: MedicalClinicInMinotNorthDakotaMember to iret_MedicalClinicInMinotNorthDakotaMember_lbl1" />
    <link:loc xlink:type="locator" xlink:href="iret-20130131.xsd#iret_MinotNorthDakotaAndCasperWyomingMember" xlink:label="MinotNorthDakotaAndCasperWyomingMember" xlink:title="MinotNorthDakotaAndCasperWyomingMember" />
    <link:label xlink:type="resource" xlink:label="iret_MinotNorthDakotaAndCasperWyomingMember_lbl" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:title="iret_MinotNorthDakotaAndCasperWyomingMember_lbl" xml:lang="en-US" id="iret_MinotNorthDakotaAndCasperWyomingMember_lbl">Minot, North Dakota and Casper, Wyoming property acquired or disposed.</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="MinotNorthDakotaAndCasperWyomingMember" xlink:to="iret_MinotNorthDakotaAndCasperWyomingMember_lbl" xlink:title="label: MinotNorthDakotaAndCasperWyomingMember to iret_MinotNorthDakotaAndCasperWyomingMember_lbl" />
    <link:label xlink:type="resource" xlink:label="iret_MinotNorthDakotaAndCasperWyomingMember_lbl1" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="iret_MinotNorthDakotaAndCasperWyomingMember_lbl1" xml:lang="en-US" id="iret_MinotNorthDakotaAndCasperWyomingMember_lbl1">Minot, North Dakota and Casper, Wyoming [Member]</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="MinotNorthDakotaAndCasperWyomingMember" xlink:to="iret_MinotNorthDakotaAndCasperWyomingMember_lbl1" xlink:title="label: MinotNorthDakotaAndCasperWyomingMember to iret_MinotNorthDakotaAndCasperWyomingMember_lbl1" />
    <link:loc xlink:type="locator" xlink:href="iret-20130131.xsd#iret_MinotUnimproved-MinotNdMember" xlink:label="MinotUnimproved-MinotNdMember" xlink:title="MinotUnimproved-MinotNdMember" />
    <link:label xlink:type="resource" xlink:label="iret_MinotUnimproved-MinotNdMember_lbl" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:title="iret_MinotUnimproved-MinotNdMember_lbl" xml:lang="en-US" id="iret_MinotUnimproved-MinotNdMember_lbl">Minot Unimproved - Minot, ND property acquired or disposed.</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="MinotUnimproved-MinotNdMember" xlink:to="iret_MinotUnimproved-MinotNdMember_lbl" xlink:title="label: MinotUnimproved-MinotNdMember to iret_MinotUnimproved-MinotNdMember_lbl" />
    <link:label xlink:type="resource" xlink:label="iret_MinotUnimproved-MinotNdMember_lbl1" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="iret_MinotUnimproved-MinotNdMember_lbl1" xml:lang="en-US" id="iret_MinotUnimproved-MinotNdMember_lbl1">Minot Unimproved - Minot, ND [Member]</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="MinotUnimproved-MinotNdMember" xlink:to="iret_MinotUnimproved-MinotNdMember_lbl1" xlink:title="label: MinotUnimproved-MinotNdMember to iret_MinotUnimproved-MinotNdMember_lbl1" />
    <link:loc xlink:type="locator" xlink:href="iret-20130131.xsd#iret_Multi-FamilyResidentialPropertiesMember" xlink:label="Multi-FamilyResidentialPropertiesMember" xlink:title="Multi-FamilyResidentialPropertiesMember" />
    <link:label xlink:type="resource" xlink:label="iret_Multi-FamilyResidentialPropertiesMember_lbl" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:title="iret_Multi-FamilyResidentialPropertiesMember_lbl" xml:lang="en-US" id="iret_Multi-FamilyResidentialPropertiesMember_lbl">Multi-family residential properties acquired or disposed.</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="Multi-FamilyResidentialPropertiesMember" xlink:to="iret_Multi-FamilyResidentialPropertiesMember_lbl" xlink:title="label: Multi-FamilyResidentialPropertiesMember to iret_Multi-FamilyResidentialPropertiesMember_lbl" />
    <link:label xlink:type="resource" xlink:label="iret_Multi-FamilyResidentialPropertiesMember_lbl1" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="iret_Multi-FamilyResidentialPropertiesMember_lbl1" xml:lang="en-US" id="iret_Multi-FamilyResidentialPropertiesMember_lbl1">Multi-family Residential Properties [Member]</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="Multi-FamilyResidentialPropertiesMember" xlink:to="iret_Multi-FamilyResidentialPropertiesMember_lbl1" xlink:title="label: Multi-FamilyResidentialPropertiesMember to iret_Multi-FamilyResidentialPropertiesMember_lbl1" />
    <link:loc xlink:type="locator" xlink:href="iret-20130131.xsd#iret_PrairiewoodMeadows-FargoNdMember" xlink:label="PrairiewoodMeadows-FargoNdMember" xlink:title="PrairiewoodMeadows-FargoNdMember" />
    <link:label xlink:type="resource" xlink:label="iret_PrairiewoodMeadows-FargoNdMember_lbl" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:title="iret_PrairiewoodMeadows-FargoNdMember_lbl" xml:lang="en-US" id="iret_PrairiewoodMeadows-FargoNdMember_lbl">Prairiewood Meadows - Fargo, ND property acquired or disposed.</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="PrairiewoodMeadows-FargoNdMember" xlink:to="iret_PrairiewoodMeadows-FargoNdMember_lbl" xlink:title="label: PrairiewoodMeadows-FargoNdMember to iret_PrairiewoodMeadows-FargoNdMember_lbl" />
    <link:label xlink:type="resource" xlink:label="iret_PrairiewoodMeadows-FargoNdMember_lbl1" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="iret_PrairiewoodMeadows-FargoNdMember_lbl1" xml:lang="en-US" id="iret_PrairiewoodMeadows-FargoNdMember_lbl1">Prairiewood Meadows - Fargo, ND [Member]</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="PrairiewoodMeadows-FargoNdMember" xlink:to="iret_PrairiewoodMeadows-FargoNdMember_lbl1" xlink:title="label: PrairiewoodMeadows-FargoNdMember to iret_PrairiewoodMeadows-FargoNdMember_lbl1" />
    <link:loc xlink:type="locator" xlink:href="iret-20130131.xsd#iret_RegencyParkEstates-StCloudMnMember" xlink:label="RegencyParkEstates-StCloudMnMember" xlink:title="RegencyParkEstates-StCloudMnMember" />
    <link:label xlink:type="resource" xlink:label="iret_RegencyParkEstates-StCloudMnMember_lbl" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:title="iret_RegencyParkEstates-StCloudMnMember_lbl" xml:lang="en-US" id="iret_RegencyParkEstates-StCloudMnMember_lbl">Regency Park Estates - St. Cloud, MN property acquired or disposed.</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="RegencyParkEstates-StCloudMnMember" xlink:to="iret_RegencyParkEstates-StCloudMnMember_lbl" xlink:title="label: RegencyParkEstates-StCloudMnMember to iret_RegencyParkEstates-StCloudMnMember_lbl" />
    <link:label xlink:type="resource" xlink:label="iret_RegencyParkEstates-StCloudMnMember_lbl1" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="iret_RegencyParkEstates-StCloudMnMember_lbl1" xml:lang="en-US" id="iret_RegencyParkEstates-StCloudMnMember_lbl1">Regency Park Estates - St. Cloud, MN [Member]</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="RegencyParkEstates-StCloudMnMember" xlink:to="iret_RegencyParkEstates-StCloudMnMember_lbl1" xlink:title="label: RegencyParkEstates-StCloudMnMember to iret_RegencyParkEstates-StCloudMnMember_lbl1" />
    <link:loc xlink:type="locator" xlink:href="iret-20130131.xsd#iret_SpringCreekAmericanFalls-AmericanFallsIdMember" xlink:label="SpringCreekAmericanFalls-AmericanFallsIdMember" xlink:title="SpringCreekAmericanFalls-AmericanFallsIdMember" />
    <link:label xlink:type="resource" xlink:label="iret_SpringCreekAmericanFalls-AmericanFallsIdMember_lbl" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:title="iret_SpringCreekAmericanFalls-AmericanFallsIdMember_lbl" xml:lang="en-US" id="iret_SpringCreekAmericanFalls-AmericanFallsIdMember_lbl">Spring Creek American Falls - American Falls, ID property acquired or disposed.</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="SpringCreekAmericanFalls-AmericanFallsIdMember" xlink:to="iret_SpringCreekAmericanFalls-AmericanFallsIdMember_lbl" xlink:title="label: SpringCreekAmericanFalls-AmericanFallsIdMember to iret_SpringCreekAmericanFalls-AmericanFallsIdMember_lbl" />
    <link:label xlink:type="resource" xlink:label="iret_SpringCreekAmericanFalls-AmericanFallsIdMember_lbl1" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="iret_SpringCreekAmericanFalls-AmericanFallsIdMember_lbl1" xml:lang="en-US" id="iret_SpringCreekAmericanFalls-AmericanFallsIdMember_lbl1">Spring Creek American Falls - American Falls, ID [Member]</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="SpringCreekAmericanFalls-AmericanFallsIdMember" xlink:to="iret_SpringCreekAmericanFalls-AmericanFallsIdMember_lbl1" xlink:title="label: SpringCreekAmericanFalls-AmericanFallsIdMember to iret_SpringCreekAmericanFalls-AmericanFallsIdMember_lbl1" />
    <link:loc xlink:type="locator" xlink:href="iret-20130131.xsd#iret_SpringCreekSodaSprings-SodaSpringsIdMember" xlink:label="SpringCreekSodaSprings-SodaSpringsIdMember" xlink:title="SpringCreekSodaSprings-SodaSpringsIdMember" />
    <link:label xlink:type="resource" xlink:label="iret_SpringCreekSodaSprings-SodaSpringsIdMember_lbl" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:title="iret_SpringCreekSodaSprings-SodaSpringsIdMember_lbl" xml:lang="en-US" id="iret_SpringCreekSodaSprings-SodaSpringsIdMember_lbl">Spring Creek Soda Springs - Soda Springs, ID property acquired or disposed.</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="SpringCreekSodaSprings-SodaSpringsIdMember" xlink:to="iret_SpringCreekSodaSprings-SodaSpringsIdMember_lbl" xlink:title="label: SpringCreekSodaSprings-SodaSpringsIdMember to iret_SpringCreekSodaSprings-SodaSpringsIdMember_lbl" />
    <link:label xlink:type="resource" xlink:label="iret_SpringCreekSodaSprings-SodaSpringsIdMember_lbl1" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="iret_SpringCreekSodaSprings-SodaSpringsIdMember_lbl1" xml:lang="en-US" id="iret_SpringCreekSodaSprings-SodaSpringsIdMember_lbl1">Spring Creek Soda Springs - Soda Springs, ID [Member]</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="SpringCreekSodaSprings-SodaSpringsIdMember" xlink:to="iret_SpringCreekSodaSprings-SodaSpringsIdMember_lbl1" xlink:title="label: SpringCreekSodaSprings-SodaSpringsIdMember to iret_SpringCreekSodaSprings-SodaSpringsIdMember_lbl1" />
    <link:loc xlink:type="locator" xlink:href="iret-20130131.xsd#iret_SpringCreekEagle-EagleIdMember" xlink:label="SpringCreekEagle-EagleIdMember" xlink:title="SpringCreekEagle-EagleIdMember" />
    <link:label xlink:type="resource" xlink:label="iret_SpringCreekEagle-EagleIdMember_lbl" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:title="iret_SpringCreekEagle-EagleIdMember_lbl" xml:lang="en-US" id="iret_SpringCreekEagle-EagleIdMember_lbl">Spring Creek Eagle - Eagle, ID property acquired or disposed.</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="SpringCreekEagle-EagleIdMember" xlink:to="iret_SpringCreekEagle-EagleIdMember_lbl" xlink:title="label: SpringCreekEagle-EagleIdMember to iret_SpringCreekEagle-EagleIdMember_lbl" />
    <link:label xlink:type="resource" xlink:label="iret_SpringCreekEagle-EagleIdMember_lbl1" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="iret_SpringCreekEagle-EagleIdMember_lbl1" xml:lang="en-US" id="iret_SpringCreekEagle-EagleIdMember_lbl1">Spring Creek Eagle - Eagle, ID [Member]</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="SpringCreekEagle-EagleIdMember" xlink:to="iret_SpringCreekEagle-EagleIdMember_lbl1" xlink:title="label: SpringCreekEagle-EagleIdMember to iret_SpringCreekEagle-EagleIdMember_lbl1" />
    <link:loc xlink:type="locator" xlink:href="iret-20130131.xsd#iret_SpringCreekMeridian-MeridianIdMember" xlink:label="SpringCreekMeridian-MeridianIdMember" xlink:title="SpringCreekMeridian-MeridianIdMember" />
    <link:label xlink:type="resource" xlink:label="iret_SpringCreekMeridian-MeridianIdMember_lbl" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:title="iret_SpringCreekMeridian-MeridianIdMember_lbl" xml:lang="en-US" id="iret_SpringCreekMeridian-MeridianIdMember_lbl">Spring Creek Meridian - Meridian, ID property acquired or disposed.</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="SpringCreekMeridian-MeridianIdMember" xlink:to="iret_SpringCreekMeridian-MeridianIdMember_lbl" xlink:title="label: SpringCreekMeridian-MeridianIdMember to iret_SpringCreekMeridian-MeridianIdMember_lbl" />
    <link:label xlink:type="resource" xlink:label="iret_SpringCreekMeridian-MeridianIdMember_lbl1" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="iret_SpringCreekMeridian-MeridianIdMember_lbl1" xml:lang="en-US" id="iret_SpringCreekMeridian-MeridianIdMember_lbl1">Spring Creek Meridian - Meridian, ID [Member]</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="SpringCreekMeridian-MeridianIdMember" xlink:to="iret_SpringCreekMeridian-MeridianIdMember_lbl1" xlink:title="label: SpringCreekMeridian-MeridianIdMember to iret_SpringCreekMeridian-MeridianIdMember_lbl1" />
    <link:loc xlink:type="locator" xlink:href="iret-20130131.xsd#iret_SpringCreekOverland-BoiseIdMember" xlink:label="SpringCreekOverland-BoiseIdMember" xlink:title="SpringCreekOverland-BoiseIdMember" />
    <link:label xlink:type="resource" xlink:label="iret_SpringCreekOverland-BoiseIdMember_lbl" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:title="iret_SpringCreekOverland-BoiseIdMember_lbl" xml:lang="en-US" id="iret_SpringCreekOverland-BoiseIdMember_lbl">Spring Creek Overland - Boise, ID property or disposed.</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="SpringCreekOverland-BoiseIdMember" xlink:to="iret_SpringCreekOverland-BoiseIdMember_lbl" xlink:title="label: SpringCreekOverland-BoiseIdMember to iret_SpringCreekOverland-BoiseIdMember_lbl" />
    <link:label xlink:type="resource" xlink:label="iret_SpringCreekOverland-BoiseIdMember_lbl1" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="iret_SpringCreekOverland-BoiseIdMember_lbl1" xml:lang="en-US" id="iret_SpringCreekOverland-BoiseIdMember_lbl1">Spring Creek Overland - Boise, ID [Member]</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="SpringCreekOverland-BoiseIdMember" xlink:to="iret_SpringCreekOverland-BoiseIdMember_lbl1" xlink:title="label: SpringCreekOverland-BoiseIdMember to iret_SpringCreekOverland-BoiseIdMember_lbl1" />
    <link:loc xlink:type="locator" xlink:href="iret-20130131.xsd#iret_SpringCreekBoise-BoiseIdMember" xlink:label="SpringCreekBoise-BoiseIdMember" xlink:title="SpringCreekBoise-BoiseIdMember" />
    <link:label xlink:type="resource" xlink:label="iret_SpringCreekBoise-BoiseIdMember_lbl" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:title="iret_SpringCreekBoise-BoiseIdMember_lbl" xml:lang="en-US" id="iret_SpringCreekBoise-BoiseIdMember_lbl">Spring Creek Boise - Boise, ID property acquired or disposed.</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="SpringCreekBoise-BoiseIdMember" xlink:to="iret_SpringCreekBoise-BoiseIdMember_lbl" xlink:title="label: SpringCreekBoise-BoiseIdMember to iret_SpringCreekBoise-BoiseIdMember_lbl" />
    <link:label xlink:type="resource" xlink:label="iret_SpringCreekBoise-BoiseIdMember_lbl1" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="iret_SpringCreekBoise-BoiseIdMember_lbl1" xml:lang="en-US" id="iret_SpringCreekBoise-BoiseIdMember_lbl1">Spring Creek Boise - Boise, ID [Member]</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="SpringCreekBoise-BoiseIdMember" xlink:to="iret_SpringCreekBoise-BoiseIdMember_lbl1" xlink:title="label: SpringCreekBoise-BoiseIdMember to iret_SpringCreekBoise-BoiseIdMember_lbl1" />
    <link:loc xlink:type="locator" xlink:href="iret-20130131.xsd#iret_SpringCreekUstick-MeridianIdMember" xlink:label="SpringCreekUstick-MeridianIdMember" xlink:title="SpringCreekUstick-MeridianIdMember" />
    <link:label xlink:type="resource" xlink:label="iret_SpringCreekUstick-MeridianIdMember_lbl" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:title="iret_SpringCreekUstick-MeridianIdMember_lbl" xml:lang="en-US" id="iret_SpringCreekUstick-MeridianIdMember_lbl">Spring Creek Ustick - Meridian, ID property acquired or disposed.</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="SpringCreekUstick-MeridianIdMember" xlink:to="iret_SpringCreekUstick-MeridianIdMember_lbl" xlink:title="label: SpringCreekUstick-MeridianIdMember to iret_SpringCreekUstick-MeridianIdMember_lbl" />
    <link:label xlink:type="resource" xlink:label="iret_SpringCreekUstick-MeridianIdMember_lbl1" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="iret_SpringCreekUstick-MeridianIdMember_lbl1" xml:lang="en-US" id="iret_SpringCreekUstick-MeridianIdMember_lbl1">Spring Creek Ustick - Meridian, ID [Member]</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="SpringCreekUstick-MeridianIdMember" xlink:to="iret_SpringCreekUstick-MeridianIdMember_lbl1" xlink:title="label: SpringCreekUstick-MeridianIdMember to iret_SpringCreekUstick-MeridianIdMember_lbl1" />
    <link:loc xlink:type="locator" xlink:href="iret-20130131.xsd#iret_SpringWindExpansion-LaramieWyMember" xlink:label="SpringWindExpansion-LaramieWyMember" xlink:title="SpringWindExpansion-LaramieWyMember" />
    <link:label xlink:type="resource" xlink:label="iret_SpringWindExpansion-LaramieWyMember_lbl" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:title="iret_SpringWindExpansion-LaramieWyMember_lbl" xml:lang="en-US" id="iret_SpringWindExpansion-LaramieWyMember_lbl">Spring Wind Expansion - Laramie, WY property acquired or disposed.</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="SpringWindExpansion-LaramieWyMember" xlink:to="iret_SpringWindExpansion-LaramieWyMember_lbl" xlink:title="label: SpringWindExpansion-LaramieWyMember to iret_SpringWindExpansion-LaramieWyMember_lbl" />
    <link:label xlink:type="resource" xlink:label="iret_SpringWindExpansion-LaramieWyMember_lbl1" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="iret_SpringWindExpansion-LaramieWyMember_lbl1" xml:lang="en-US" id="iret_SpringWindExpansion-LaramieWyMember_lbl1">Spring Wind Expansion - Laramie, WY [Member]</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="SpringWindExpansion-LaramieWyMember" xlink:to="iret_SpringWindExpansion-LaramieWyMember_lbl1" xlink:title="label: SpringWindExpansion-LaramieWyMember to iret_SpringWindExpansion-LaramieWyMember_lbl1" />
    <link:loc xlink:type="locator" xlink:href="iret-20130131.xsd#iret_SiouxFallsSouthDakotaMember" xlink:label="SiouxFallsSouthDakotaMember" xlink:title="SiouxFallsSouthDakotaMember" />
    <link:label xlink:type="resource" xlink:label="iret_SiouxFallsSouthDakotaMember_lbl" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:title="iret_SiouxFallsSouthDakotaMember_lbl" xml:lang="en-US" id="iret_SiouxFallsSouthDakotaMember_lbl">Sioux Falls, South Dakota property acquired or disposed.</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="SiouxFallsSouthDakotaMember" xlink:to="iret_SiouxFallsSouthDakotaMember_lbl" xlink:title="label: SiouxFallsSouthDakotaMember to iret_SiouxFallsSouthDakotaMember_lbl" />
    <link:label xlink:type="resource" xlink:label="iret_SiouxFallsSouthDakotaMember_lbl1" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="iret_SiouxFallsSouthDakotaMember_lbl1" xml:lang="en-US" id="iret_SiouxFallsSouthDakotaMember_lbl1">Sioux Falls, South Dakota [Member]</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="SiouxFallsSouthDakotaMember" xlink:to="iret_SiouxFallsSouthDakotaMember_lbl1" xlink:title="label: SiouxFallsSouthDakotaMember to iret_SiouxFallsSouthDakotaMember_lbl1" />
    <link:loc xlink:type="locator" xlink:href="iret-20130131.xsd#iret_TerraceOnGreen-FargoNdMember" xlink:label="TerraceOnGreen-FargoNdMember" xlink:title="TerraceOnGreen-FargoNdMember" />
    <link:label xlink:type="resource" xlink:label="iret_TerraceOnGreen-FargoNdMember_lbl" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:title="iret_TerraceOnGreen-FargoNdMember_lbl" xml:lang="en-US" id="iret_TerraceOnGreen-FargoNdMember_lbl">Terrace on the Green - Fargo, ND property acquired or disposed.</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="TerraceOnGreen-FargoNdMember" xlink:to="iret_TerraceOnGreen-FargoNdMember_lbl" xlink:title="label: TerraceOnGreen-FargoNdMember to iret_TerraceOnGreen-FargoNdMember_lbl" />
    <link:label xlink:type="resource" xlink:label="iret_TerraceOnGreen-FargoNdMember_lbl1" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="iret_TerraceOnGreen-FargoNdMember_lbl1" xml:lang="en-US" id="iret_TerraceOnGreen-FargoNdMember_lbl1">Terrace on the Green - Fargo, ND [Member]</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="TerraceOnGreen-FargoNdMember" xlink:to="iret_TerraceOnGreen-FargoNdMember_lbl1" xlink:title="label: TerraceOnGreen-FargoNdMember to iret_TerraceOnGreen-FargoNdMember_lbl1" />
    <link:loc xlink:type="locator" xlink:href="iret-20130131.xsd#iret_PondsAtHeritagePlace-SartellMnMember" xlink:label="PondsAtHeritagePlace-SartellMnMember" xlink:title="PondsAtHeritagePlace-SartellMnMember" />
    <link:label xlink:type="resource" xlink:label="iret_PondsAtHeritagePlace-SartellMnMember_lbl" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:title="iret_PondsAtHeritagePlace-SartellMnMember_lbl" xml:lang="en-US" id="iret_PondsAtHeritagePlace-SartellMnMember_lbl">The Ponds at Heritage Place - Sartell, MN acquired or disposed</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="PondsAtHeritagePlace-SartellMnMember" xlink:to="iret_PondsAtHeritagePlace-SartellMnMember_lbl" xlink:title="label: PondsAtHeritagePlace-SartellMnMember to iret_PondsAtHeritagePlace-SartellMnMember_lbl" />
    <link:label xlink:type="resource" xlink:label="iret_PondsAtHeritagePlace-SartellMnMember_lbl1" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="iret_PondsAtHeritagePlace-SartellMnMember_lbl1" xml:lang="en-US" id="iret_PondsAtHeritagePlace-SartellMnMember_lbl1">The Ponds at Heritage Place - Sartell, MN [Member]</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="PondsAtHeritagePlace-SartellMnMember" xlink:to="iret_PondsAtHeritagePlace-SartellMnMember_lbl1" xlink:title="label: PondsAtHeritagePlace-SartellMnMember to iret_PondsAtHeritagePlace-SartellMnMember_lbl1" />
    <link:loc xlink:type="locator" xlink:href="iret-20130131.xsd#iret_TrinityAtPlaza16-MinotNdMember" xlink:label="TrinityAtPlaza16-MinotNdMember" xlink:title="TrinityAtPlaza16-MinotNdMember" />
    <link:label xlink:type="resource" xlink:label="iret_TrinityAtPlaza16-MinotNdMember_lbl" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:title="iret_TrinityAtPlaza16-MinotNdMember_lbl" xml:lang="en-US" id="iret_TrinityAtPlaza16-MinotNdMember_lbl">Trinity at Plaza 16 - Minot, ND property acquired or disposed.</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="TrinityAtPlaza16-MinotNdMember" xlink:to="iret_TrinityAtPlaza16-MinotNdMember_lbl" xlink:title="label: TrinityAtPlaza16-MinotNdMember to iret_TrinityAtPlaza16-MinotNdMember_lbl" />
    <link:label xlink:type="resource" xlink:label="iret_TrinityAtPlaza16-MinotNdMember_lbl1" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="iret_TrinityAtPlaza16-MinotNdMember_lbl1" xml:lang="en-US" id="iret_TrinityAtPlaza16-MinotNdMember_lbl1">Trinity at Plaza 16 - Minot, ND( [Member]</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="TrinityAtPlaza16-MinotNdMember" xlink:to="iret_TrinityAtPlaza16-MinotNdMember_lbl1" xlink:title="label: TrinityAtPlaza16-MinotNdMember to iret_TrinityAtPlaza16-MinotNdMember_lbl1" />
    <link:loc xlink:type="locator" xlink:href="iret-20130131.xsd#iret_UniversityCommons-WillistonNdMember" xlink:label="UniversityCommons-WillistonNdMember" xlink:title="UniversityCommons-WillistonNdMember" />
    <link:label xlink:type="resource" xlink:label="iret_UniversityCommons-WillistonNdMember_lbl" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:title="iret_UniversityCommons-WillistonNdMember_lbl" xml:lang="en-US" id="iret_UniversityCommons-WillistonNdMember_lbl">University Commons - Williston, ND property acquired or disposed.</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="UniversityCommons-WillistonNdMember" xlink:to="iret_UniversityCommons-WillistonNdMember_lbl" xlink:title="label: UniversityCommons-WillistonNdMember to iret_UniversityCommons-WillistonNdMember_lbl" />
    <link:label xlink:type="resource" xlink:label="iret_UniversityCommons-WillistonNdMember_lbl1" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="iret_UniversityCommons-WillistonNdMember_lbl1" xml:lang="en-US" id="iret_UniversityCommons-WillistonNdMember_lbl1">University Commons - Williston, ND [Member]</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="UniversityCommons-WillistonNdMember" xlink:to="iret_UniversityCommons-WillistonNdMember_lbl1" xlink:title="label: UniversityCommons-WillistonNdMember to iret_UniversityCommons-WillistonNdMember_lbl1" />
    <link:loc xlink:type="locator" xlink:href="iret-20130131.xsd#iret_VillaWest-TopekaKsMember" xlink:label="VillaWest-TopekaKsMember" xlink:title="VillaWest-TopekaKsMember" />
    <link:label xlink:type="resource" xlink:label="iret_VillaWest-TopekaKsMember_lbl" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:title="iret_VillaWest-TopekaKsMember_lbl" xml:lang="en-US" id="iret_VillaWest-TopekaKsMember_lbl">Villa West - Topeka, KS property acquired or disposed.</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="VillaWest-TopekaKsMember" xlink:to="iret_VillaWest-TopekaKsMember_lbl" xlink:title="label: VillaWest-TopekaKsMember to iret_VillaWest-TopekaKsMember_lbl" />
    <link:label xlink:type="resource" xlink:label="iret_VillaWest-TopekaKsMember_lbl1" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="iret_VillaWest-TopekaKsMember_lbl1" xml:lang="en-US" id="iret_VillaWest-TopekaKsMember_lbl1">Villa West - Topeka, KS [Member]</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="VillaWest-TopekaKsMember" xlink:to="iret_VillaWest-TopekaKsMember_lbl1" xlink:title="label: VillaWest-TopekaKsMember to iret_VillaWest-TopekaKsMember_lbl1" />
    <link:loc xlink:type="locator" xlink:href="iret-20130131.xsd#iret_WillistonGardenBuildings3And4-WillistonNdMember" xlink:label="WillistonGardenBuildings3And4-WillistonNdMember" xlink:title="WillistonGardenBuildings3And4-WillistonNdMember" />
    <link:label xlink:type="resource" xlink:label="iret_WillistonGardenBuildings3And4-WillistonNdMember_lbl" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:title="iret_WillistonGardenBuildings3And4-WillistonNdMember_lbl" xml:lang="en-US" id="iret_WillistonGardenBuildings3And4-WillistonNdMember_lbl">Williston Garden Buildings 3 and 4 - Williston, ND property acquired or disposed.</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="WillistonGardenBuildings3And4-WillistonNdMember" xlink:to="iret_WillistonGardenBuildings3And4-WillistonNdMember_lbl" xlink:title="label: WillistonGardenBuildings3And4-WillistonNdMember to iret_WillistonGardenBuildings3And4-WillistonNdMember_lbl" />
    <link:label xlink:type="resource" xlink:label="iret_WillistonGardenBuildings3And4-WillistonNdMember_lbl1" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="iret_WillistonGardenBuildings3And4-WillistonNdMember_lbl1" xml:lang="en-US" id="iret_WillistonGardenBuildings3And4-WillistonNdMember_lbl1">Williston Garden Buildings 3 and 4 - Williston, ND [Member]</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="WillistonGardenBuildings3And4-WillistonNdMember" xlink:to="iret_WillistonGardenBuildings3And4-WillistonNdMember_lbl1" xlink:title="label: WillistonGardenBuildings3And4-WillistonNdMember to iret_WillistonGardenBuildings3And4-WillistonNdMember_lbl1" />
    <link:loc xlink:type="locator" xlink:href="iret-20130131.xsd#iret_UnimprovedLandMember" xlink:label="UnimprovedLandMember" xlink:title="UnimprovedLandMember" />
    <link:label xlink:type="resource" xlink:label="iret_UnimprovedLandMember_lbl" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:title="iret_UnimprovedLandMember_lbl" xml:lang="en-US" id="iret_UnimprovedLandMember_lbl">A business segment for reporting the information separately.</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="UnimprovedLandMember" xlink:to="iret_UnimprovedLandMember_lbl" xlink:title="label: UnimprovedLandMember to iret_UnimprovedLandMember_lbl" />
    <link:label xlink:type="resource" xlink:label="iret_UnimprovedLandMember_lbl1" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="iret_UnimprovedLandMember_lbl1" xml:lang="en-US" id="iret_UnimprovedLandMember_lbl1">Unimproved Land [Member]</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="UnimprovedLandMember" xlink:to="iret_UnimprovedLandMember_lbl1" xlink:title="label: UnimprovedLandMember to iret_UnimprovedLandMember_lbl1" />
    <link:loc xlink:type="locator" xlink:href="iret-20130131.xsd#iret_OtherDispositionMember" xlink:label="OtherDispositionMember" xlink:title="OtherDispositionMember" />
    <link:label xlink:type="resource" xlink:label="iret_OtherDispositionMember_lbl" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:title="iret_OtherDispositionMember_lbl" xml:lang="en-US" id="iret_OtherDispositionMember_lbl">A business segment for reporting the information separately.</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="OtherDispositionMember" xlink:to="iret_OtherDispositionMember_lbl" xlink:title="label: OtherDispositionMember to iret_OtherDispositionMember_lbl" />
    <link:label xlink:type="resource" xlink:label="iret_OtherDispositionMember_lbl1" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="iret_OtherDispositionMember_lbl1" xml:lang="en-US" id="iret_OtherDispositionMember_lbl1">Other Disposition [Member]</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="OtherDispositionMember" xlink:to="iret_OtherDispositionMember_lbl1" xlink:title="label: OtherDispositionMember to iret_OtherDispositionMember_lbl1" />
    <link:loc xlink:type="locator" xlink:href="iret-20130131.xsd#iret_NumberOfBuildings" xlink:label="NumberOfBuildings" xlink:title="NumberOfBuildings" />
    <link:label xlink:type="resource" xlink:label="iret_NumberOfBuildings_lbl" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:title="iret_NumberOfBuildings_lbl" xml:lang="en-US" id="iret_NumberOfBuildings_lbl">Number of buildings.</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="NumberOfBuildings" xlink:to="iret_NumberOfBuildings_lbl" xlink:title="label: NumberOfBuildings to iret_NumberOfBuildings_lbl" />
    <link:label xlink:type="resource" xlink:label="iret_NumberOfBuildings_lbl1" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="iret_NumberOfBuildings_lbl1" xml:lang="en-US" id="iret_NumberOfBuildings_lbl1">Number of buildings</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="NumberOfBuildings" xlink:to="iret_NumberOfBuildings_lbl1" xlink:title="label: NumberOfBuildings to iret_NumberOfBuildings_lbl1" />
    <link:loc xlink:type="locator" xlink:href="iret-20130131.xsd#iret_NumberOfPropertyAcquired" xlink:label="NumberOfPropertyAcquired" xlink:title="NumberOfPropertyAcquired" />
    <link:label xlink:type="resource" xlink:label="iret_NumberOfPropertyAcquired_lbl" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:title="iret_NumberOfPropertyAcquired_lbl" xml:lang="en-US" id="iret_NumberOfPropertyAcquired_lbl">The number of property acquired.</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="NumberOfPropertyAcquired" xlink:to="iret_NumberOfPropertyAcquired_lbl" xlink:title="label: NumberOfPropertyAcquired to iret_NumberOfPropertyAcquired_lbl" />
    <link:label xlink:type="resource" xlink:label="iret_NumberOfPropertyAcquired_lbl1" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="iret_NumberOfPropertyAcquired_lbl1" xml:lang="en-US" id="iret_NumberOfPropertyAcquired_lbl1">Number of property acquired</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="NumberOfPropertyAcquired" xlink:to="iret_NumberOfPropertyAcquired_lbl1" xlink:title="label: NumberOfPropertyAcquired to iret_NumberOfPropertyAcquired_lbl1" />
    <link:loc xlink:type="locator" xlink:href="iret-20130131.xsd#iret_AreaOfPropertyAcquired" xlink:label="AreaOfPropertyAcquired" xlink:title="AreaOfPropertyAcquired" />
    <link:label xlink:type="resource" xlink:label="iret_AreaOfPropertyAcquired_lbl" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:title="iret_AreaOfPropertyAcquired_lbl" xml:lang="en-US" id="iret_AreaOfPropertyAcquired_lbl">The area of property acquired.</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="AreaOfPropertyAcquired" xlink:to="iret_AreaOfPropertyAcquired_lbl" xlink:title="label: AreaOfPropertyAcquired to iret_AreaOfPropertyAcquired_lbl" />
    <link:label xlink:type="resource" xlink:label="iret_AreaOfPropertyAcquired_lbl1" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="iret_AreaOfPropertyAcquired_lbl1" xml:lang="en-US" id="iret_AreaOfPropertyAcquired_lbl1">Area of property acquired</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="AreaOfPropertyAcquired" xlink:to="iret_AreaOfPropertyAcquired_lbl1" xlink:title="label: AreaOfPropertyAcquired to iret_AreaOfPropertyAcquired_lbl1" />
    <link:label xlink:type="resource" xlink:label="iret_AreaOfPropertyAcquired_lbl2" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:title="iret_AreaOfPropertyAcquired_lbl2" xml:lang="en-US" id="iret_AreaOfPropertyAcquired_lbl2">Area of property acquired (in square foot)</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="AreaOfPropertyAcquired" xlink:to="iret_AreaOfPropertyAcquired_lbl2" xlink:title="label: AreaOfPropertyAcquired to iret_AreaOfPropertyAcquired_lbl2" />
    <link:loc xlink:type="locator" xlink:href="iret-20130131.xsd#iret_NumberOfScreenMovieTheaterConstructed" xlink:label="NumberOfScreenMovieTheaterConstructed" xlink:title="NumberOfScreenMovieTheaterConstructed" />
    <link:label xlink:type="resource" xlink:label="iret_NumberOfScreenMovieTheaterConstructed_lbl" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:title="iret_NumberOfScreenMovieTheaterConstructed_lbl" xml:lang="en-US" id="iret_NumberOfScreenMovieTheaterConstructed_lbl">The number of screen movie theater constructed that are substantially completed during the period.</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="NumberOfScreenMovieTheaterConstructed" xlink:to="iret_NumberOfScreenMovieTheaterConstructed_lbl" xlink:title="label: NumberOfScreenMovieTheaterConstructed to iret_NumberOfScreenMovieTheaterConstructed_lbl" />
    <link:label xlink:type="resource" xlink:label="iret_NumberOfScreenMovieTheaterConstructed_lbl1" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="iret_NumberOfScreenMovieTheaterConstructed_lbl1" xml:lang="en-US" id="iret_NumberOfScreenMovieTheaterConstructed_lbl1">Number of screen movie theater constructed</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="NumberOfScreenMovieTheaterConstructed" xlink:to="iret_NumberOfScreenMovieTheaterConstructed_lbl1" xlink:title="label: NumberOfScreenMovieTheaterConstructed to iret_NumberOfScreenMovieTheaterConstructed_lbl1" />
    <link:loc xlink:type="locator" xlink:href="iret-20130131.xsd#iret_ProjectCostsIncurredToDate" xlink:label="ProjectCostsIncurredToDate" xlink:title="ProjectCostsIncurredToDate" />
    <link:label xlink:type="resource" xlink:label="iret_ProjectCostsIncurredToDate_lbl" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:title="iret_ProjectCostsIncurredToDate_lbl" xml:lang="en-US" id="iret_ProjectCostsIncurredToDate_lbl">Project costs incurred to date.</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ProjectCostsIncurredToDate" xlink:to="iret_ProjectCostsIncurredToDate_lbl" xlink:title="label: ProjectCostsIncurredToDate to iret_ProjectCostsIncurredToDate_lbl" />
    <link:label xlink:type="resource" xlink:label="iret_ProjectCostsIncurredToDate_lbl1" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="iret_ProjectCostsIncurredToDate_lbl1" xml:lang="en-US" id="iret_ProjectCostsIncurredToDate_lbl1">Project costs incurred to date</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ProjectCostsIncurredToDate" xlink:to="iret_ProjectCostsIncurredToDate_lbl1" xlink:title="label: ProjectCostsIncurredToDate to iret_ProjectCostsIncurredToDate_lbl1" />
    <link:loc xlink:type="locator" xlink:href="iret-20130131.xsd#iret_EstimatedCostOfConstruction" xlink:label="EstimatedCostOfConstruction" xlink:title="EstimatedCostOfConstruction" />
    <link:label xlink:type="resource" xlink:label="iret_EstimatedCostOfConstruction_lbl" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:title="iret_EstimatedCostOfConstruction_lbl" xml:lang="en-US" id="iret_EstimatedCostOfConstruction_lbl">Estimated cost of construction.</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="EstimatedCostOfConstruction" xlink:to="iret_EstimatedCostOfConstruction_lbl" xlink:title="label: EstimatedCostOfConstruction to iret_EstimatedCostOfConstruction_lbl" />
    <link:label xlink:type="resource" xlink:label="iret_EstimatedCostOfConstruction_lbl1" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="iret_EstimatedCostOfConstruction_lbl1" xml:lang="en-US" id="iret_EstimatedCostOfConstruction_lbl1">Estimated cost of construction</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="EstimatedCostOfConstruction" xlink:to="iret_EstimatedCostOfConstruction_lbl1" xlink:title="label: EstimatedCostOfConstruction to iret_EstimatedCostOfConstruction_lbl1" />
    <link:loc xlink:type="locator" xlink:href="iret-20130131.xsd#iret_TransactionCostsExpensedDuringPeriod" xlink:label="TransactionCostsExpensedDuringPeriod" xlink:title="TransactionCostsExpensedDuringPeriod" />
    <link:label xlink:type="resource" xlink:label="iret_TransactionCostsExpensedDuringPeriod_lbl" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:title="iret_TransactionCostsExpensedDuringPeriod_lbl" xml:lang="en-US" id="iret_TransactionCostsExpensedDuringPeriod_lbl">Transaction costs expensed during the period.</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="TransactionCostsExpensedDuringPeriod" xlink:to="iret_TransactionCostsExpensedDuringPeriod_lbl" xlink:title="label: TransactionCostsExpensedDuringPeriod to iret_TransactionCostsExpensedDuringPeriod_lbl" />
    <link:label xlink:type="resource" xlink:label="iret_TransactionCostsExpensedDuringPeriod_lbl1" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="iret_TransactionCostsExpensedDuringPeriod_lbl1" xml:lang="en-US" id="iret_TransactionCostsExpensedDuringPeriod_lbl1">Transaction costs expensed during the period</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="TransactionCostsExpensedDuringPeriod" xlink:to="iret_TransactionCostsExpensedDuringPeriod_lbl1" xlink:title="label: TransactionCostsExpensedDuringPeriod to iret_TransactionCostsExpensedDuringPeriod_lbl1" />
    <link:loc xlink:type="locator" xlink:href="iret-20130131.xsd#iret_AcquisitionsAndDevelopmentProjectsPlacedInServiceAbstract" xlink:label="AcquisitionsAndDevelopmentProjectsPlacedInServiceAbstract" xlink:title="AcquisitionsAndDevelopmentProjectsPlacedInServiceAbstract" />
    <link:label xlink:type="resource" xlink:label="iret_AcquisitionsAndDevelopmentProjectsPlacedInServiceAbstract_lbl1" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="iret_AcquisitionsAndDevelopmentProjectsPlacedInServiceAbstract_lbl1" xml:lang="en-US" id="iret_AcquisitionsAndDevelopmentProjectsPlacedInServiceAbstract_lbl1">Acquisitions and development projects placed in service [Abstract]</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="AcquisitionsAndDevelopmentProjectsPlacedInServiceAbstract" xlink:to="iret_AcquisitionsAndDevelopmentProjectsPlacedInServiceAbstract_lbl1" xlink:title="label: AcquisitionsAndDevelopmentProjectsPlacedInServiceAbstract to iret_AcquisitionsAndDevelopmentProjectsPlacedInServiceAbstract_lbl1" />
    <link:loc xlink:type="locator" xlink:href="iret-20130131.xsd#iret_NumberOfApartmentUnits" xlink:label="NumberOfApartmentUnits" xlink:title="NumberOfApartmentUnits" />
    <link:label xlink:type="resource" xlink:label="iret_NumberOfApartmentUnits_lbl" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:title="iret_NumberOfApartmentUnits_lbl" xml:lang="en-US" id="iret_NumberOfApartmentUnits_lbl">Number of apartment units.</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="NumberOfApartmentUnits" xlink:to="iret_NumberOfApartmentUnits_lbl" xlink:title="label: NumberOfApartmentUnits to iret_NumberOfApartmentUnits_lbl" />
    <link:label xlink:type="resource" xlink:label="iret_NumberOfApartmentUnits_lbl1" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="iret_NumberOfApartmentUnits_lbl1" xml:lang="en-US" id="iret_NumberOfApartmentUnits_lbl1">Number of apartment units</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="NumberOfApartmentUnits" xlink:to="iret_NumberOfApartmentUnits_lbl1" xlink:title="label: NumberOfApartmentUnits to iret_NumberOfApartmentUnits_lbl1" />
    <link:loc xlink:type="locator" xlink:href="iret-20130131.xsd#iret_AdditionalConstructionCostsDuringPeriod" xlink:label="AdditionalConstructionCostsDuringPeriod" xlink:title="AdditionalConstructionCostsDuringPeriod" />
    <link:label xlink:type="resource" xlink:label="iret_AdditionalConstructionCostsDuringPeriod_lbl" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:title="iret_AdditionalConstructionCostsDuringPeriod_lbl" xml:lang="en-US" id="iret_AdditionalConstructionCostsDuringPeriod_lbl">Additional construction costs during the period.</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="AdditionalConstructionCostsDuringPeriod" xlink:to="iret_AdditionalConstructionCostsDuringPeriod_lbl" xlink:title="label: AdditionalConstructionCostsDuringPeriod to iret_AdditionalConstructionCostsDuringPeriod_lbl" />
    <link:label xlink:type="resource" xlink:label="iret_AdditionalConstructionCostsDuringPeriod_lbl1" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="iret_AdditionalConstructionCostsDuringPeriod_lbl1" xml:lang="en-US" id="iret_AdditionalConstructionCostsDuringPeriod_lbl1">Additional construction costs during the period</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="AdditionalConstructionCostsDuringPeriod" xlink:to="iret_AdditionalConstructionCostsDuringPeriod_lbl1" xlink:title="label: AdditionalConstructionCostsDuringPeriod to iret_AdditionalConstructionCostsDuringPeriod_lbl1" />
    <link:loc xlink:type="locator" xlink:href="iret-20130131.xsd#iret_DispositionsAbstract" xlink:label="DispositionsAbstract" xlink:title="DispositionsAbstract" />
    <link:label xlink:type="resource" xlink:label="iret_DispositionsAbstract_lbl1" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="iret_DispositionsAbstract_lbl1" xml:lang="en-US" id="iret_DispositionsAbstract_lbl1">Dispositions [Abstract]</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="DispositionsAbstract" xlink:to="iret_DispositionsAbstract_lbl1" xlink:title="label: DispositionsAbstract to iret_DispositionsAbstract_lbl1" />
    <link:loc xlink:type="locator" xlink:href="iret-20130131.xsd#iret_NumberOfPropertiesSold" xlink:label="NumberOfPropertiesSold" xlink:title="NumberOfPropertiesSold" />
    <link:label xlink:type="resource" xlink:label="iret_NumberOfPropertiesSold_lbl" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:title="iret_NumberOfPropertiesSold_lbl" xml:lang="en-US" id="iret_NumberOfPropertiesSold_lbl">The number of properties sold.</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="NumberOfPropertiesSold" xlink:to="iret_NumberOfPropertiesSold_lbl" xlink:title="label: NumberOfPropertiesSold to iret_NumberOfPropertiesSold_lbl" />
    <link:label xlink:type="resource" xlink:label="iret_NumberOfPropertiesSold_lbl1" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="iret_NumberOfPropertiesSold_lbl1" xml:lang="en-US" id="iret_NumberOfPropertiesSold_lbl1">Number of properties sold</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="NumberOfPropertiesSold" xlink:to="iret_NumberOfPropertiesSold_lbl1" xlink:title="label: NumberOfPropertiesSold to iret_NumberOfPropertiesSold_lbl1" />
    <link:loc xlink:type="locator" xlink:href="iret-20130131.xsd#iret_NumberOfPropertiesDebtAssumedByBuyer" xlink:label="NumberOfPropertiesDebtAssumedByBuyer" xlink:title="NumberOfPropertiesDebtAssumedByBuyer" />
    <link:label xlink:type="resource" xlink:label="iret_NumberOfPropertiesDebtAssumedByBuyer_lbl" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:title="iret_NumberOfPropertiesDebtAssumedByBuyer_lbl" xml:lang="en-US" id="iret_NumberOfPropertiesDebtAssumedByBuyer_lbl">The number of properties related to the debt assumed by the buyer.</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="NumberOfPropertiesDebtAssumedByBuyer" xlink:to="iret_NumberOfPropertiesDebtAssumedByBuyer_lbl" xlink:title="label: NumberOfPropertiesDebtAssumedByBuyer to iret_NumberOfPropertiesDebtAssumedByBuyer_lbl" />
    <link:label xlink:type="resource" xlink:label="iret_NumberOfPropertiesDebtAssumedByBuyer_lbl1" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="iret_NumberOfPropertiesDebtAssumedByBuyer_lbl1" xml:lang="en-US" id="iret_NumberOfPropertiesDebtAssumedByBuyer_lbl1">Number of properties, debt assumed by the buyer</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="NumberOfPropertiesDebtAssumedByBuyer" xlink:to="iret_NumberOfPropertiesDebtAssumedByBuyer_lbl1" xlink:title="label: NumberOfPropertiesDebtAssumedByBuyer to iret_NumberOfPropertiesDebtAssumedByBuyer_lbl1" />
    <link:loc xlink:type="locator" xlink:href="iret-20130131.xsd#iret_DebtAssumedByBuyer" xlink:label="DebtAssumedByBuyer" xlink:title="DebtAssumedByBuyer" />
    <link:label xlink:type="resource" xlink:label="iret_DebtAssumedByBuyer_lbl" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:title="iret_DebtAssumedByBuyer_lbl" xml:lang="en-US" id="iret_DebtAssumedByBuyer_lbl">The amount of debt assumed by the buyer related to properties sold.</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="DebtAssumedByBuyer" xlink:to="iret_DebtAssumedByBuyer_lbl" xlink:title="label: DebtAssumedByBuyer to iret_DebtAssumedByBuyer_lbl" />
    <link:label xlink:type="resource" xlink:label="iret_DebtAssumedByBuyer_lbl1" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="iret_DebtAssumedByBuyer_lbl1" xml:lang="en-US" id="iret_DebtAssumedByBuyer_lbl1">Debt assumed by Buyer</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="DebtAssumedByBuyer" xlink:to="iret_DebtAssumedByBuyer_lbl1" xlink:title="label: DebtAssumedByBuyer to iret_DebtAssumedByBuyer_lbl1" />
    <link:loc xlink:type="locator" xlink:href="iret-20130131.xsd#iret_SaleProceedsAppliedToPayOffOutstandingMortgageLoan" xlink:label="SaleProceedsAppliedToPayOffOutstandingMortgageLoan" xlink:title="SaleProceedsAppliedToPayOffOutstandingMortgageLoan" />
    <link:label xlink:type="resource" xlink:label="iret_SaleProceedsAppliedToPayOffOutstandingMortgageLoan_lbl" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:title="iret_SaleProceedsAppliedToPayOffOutstandingMortgageLoan_lbl" xml:lang="en-US" id="iret_SaleProceedsAppliedToPayOffOutstandingMortgageLoan_lbl">The sale proceeds from disposition of properties applied to pay off the outstanding mortgage loan balance on the property</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="SaleProceedsAppliedToPayOffOutstandingMortgageLoan" xlink:to="iret_SaleProceedsAppliedToPayOffOutstandingMortgageLoan_lbl" xlink:title="label: SaleProceedsAppliedToPayOffOutstandingMortgageLoan to iret_SaleProceedsAppliedToPayOffOutstandingMortgageLoan_lbl" />
    <link:label xlink:type="resource" xlink:label="iret_SaleProceedsAppliedToPayOffOutstandingMortgageLoan_lbl1" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="iret_SaleProceedsAppliedToPayOffOutstandingMortgageLoan_lbl1" xml:lang="en-US" id="iret_SaleProceedsAppliedToPayOffOutstandingMortgageLoan_lbl1">Sale proceeds applied to pay off the outstanding mortgage loan</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="SaleProceedsAppliedToPayOffOutstandingMortgageLoan" xlink:to="iret_SaleProceedsAppliedToPayOffOutstandingMortgageLoan_lbl1" xlink:title="label: SaleProceedsAppliedToPayOffOutstandingMortgageLoan to iret_SaleProceedsAppliedToPayOffOutstandingMortgageLoan_lbl1" />
    <link:loc xlink:type="locator" xlink:href="iret-20130131.xsd#iret_NumberOfPropertiesSecuringLineOfCredit" xlink:label="NumberOfPropertiesSecuringLineOfCredit" xlink:title="NumberOfPropertiesSecuringLineOfCredit" />
    <link:label xlink:type="resource" xlink:label="iret_NumberOfPropertiesSecuringLineOfCredit_lbl" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:title="iret_NumberOfPropertiesSecuringLineOfCredit_lbl" xml:lang="en-US" id="iret_NumberOfPropertiesSecuringLineOfCredit_lbl">Number of properties securing line of credit.</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="NumberOfPropertiesSecuringLineOfCredit" xlink:to="iret_NumberOfPropertiesSecuringLineOfCredit_lbl" xlink:title="label: NumberOfPropertiesSecuringLineOfCredit to iret_NumberOfPropertiesSecuringLineOfCredit_lbl" />
    <link:label xlink:type="resource" xlink:label="iret_NumberOfPropertiesSecuringLineOfCredit_lbl1" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="iret_NumberOfPropertiesSecuringLineOfCredit_lbl1" xml:lang="en-US" id="iret_NumberOfPropertiesSecuringLineOfCredit_lbl1">Number of properties securing line of credit</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="NumberOfPropertiesSecuringLineOfCredit" xlink:to="iret_NumberOfPropertiesSecuringLineOfCredit_lbl1" xlink:title="label: NumberOfPropertiesSecuringLineOfCredit to iret_NumberOfPropertiesSecuringLineOfCredit_lbl1" />
    <link:loc xlink:type="locator" xlink:href="iret-20130131.xsd#iret_LineOfCreditMinimumOutstandingPrincipalBalance" xlink:label="LineOfCreditMinimumOutstandingPrincipalBalance" xlink:title="LineOfCreditMinimumOutstandingPrincipalBalance" />
    <link:label xlink:type="resource" xlink:label="iret_LineOfCreditMinimumOutstandingPrincipalBalance_lbl" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:title="iret_LineOfCreditMinimumOutstandingPrincipalBalance_lbl" xml:lang="en-US" id="iret_LineOfCreditMinimumOutstandingPrincipalBalance_lbl">Line of credit, minimum outstanding principal balance.</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="LineOfCreditMinimumOutstandingPrincipalBalance" xlink:to="iret_LineOfCreditMinimumOutstandingPrincipalBalance_lbl" xlink:title="label: LineOfCreditMinimumOutstandingPrincipalBalance to iret_LineOfCreditMinimumOutstandingPrincipalBalance_lbl" />
    <link:label xlink:type="resource" xlink:label="iret_LineOfCreditMinimumOutstandingPrincipalBalance_lbl1" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="iret_LineOfCreditMinimumOutstandingPrincipalBalance_lbl1" xml:lang="en-US" id="iret_LineOfCreditMinimumOutstandingPrincipalBalance_lbl1">Line of credit, minimum outstanding principal balance</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="LineOfCreditMinimumOutstandingPrincipalBalance" xlink:to="iret_LineOfCreditMinimumOutstandingPrincipalBalance_lbl1" xlink:title="label: LineOfCreditMinimumOutstandingPrincipalBalance to iret_LineOfCreditMinimumOutstandingPrincipalBalance_lbl1" />
    <link:loc xlink:type="locator" xlink:href="iret-20130131.xsd#iret_MinimumDepositoryAccounts" xlink:label="MinimumDepositoryAccounts" xlink:title="MinimumDepositoryAccounts" />
    <link:label xlink:type="resource" xlink:label="iret_MinimumDepositoryAccounts_lbl" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:title="iret_MinimumDepositoryAccounts_lbl" xml:lang="en-US" id="iret_MinimumDepositoryAccounts_lbl">Minimum depository accounts to be maintained.</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="MinimumDepositoryAccounts" xlink:to="iret_MinimumDepositoryAccounts_lbl" xlink:title="label: MinimumDepositoryAccounts to iret_MinimumDepositoryAccounts_lbl" />
    <link:label xlink:type="resource" xlink:label="iret_MinimumDepositoryAccounts_lbl1" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="iret_MinimumDepositoryAccounts_lbl1" xml:lang="en-US" id="iret_MinimumDepositoryAccounts_lbl1">Minimum depository accounts</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="MinimumDepositoryAccounts" xlink:to="iret_MinimumDepositoryAccounts_lbl1" xlink:title="label: MinimumDepositoryAccounts to iret_MinimumDepositoryAccounts_lbl1" />
    <link:loc xlink:type="locator" xlink:href="iret-20130131.xsd#iret_NonInterestBearingAccount" xlink:label="NonInterestBearingAccount" xlink:title="NonInterestBearingAccount" />
    <link:label xlink:type="resource" xlink:label="iret_NonInterestBearingAccount_lbl" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:title="iret_NonInterestBearingAccount_lbl" xml:lang="en-US" id="iret_NonInterestBearingAccount_lbl">Non interest bearing account to be maintained.</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="NonInterestBearingAccount" xlink:to="iret_NonInterestBearingAccount_lbl" xlink:title="label: NonInterestBearingAccount to iret_NonInterestBearingAccount_lbl" />
    <link:label xlink:type="resource" xlink:label="iret_NonInterestBearingAccount_lbl1" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="iret_NonInterestBearingAccount_lbl1" xml:lang="en-US" id="iret_NonInterestBearingAccount_lbl1">Non interest bearing account</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="NonInterestBearingAccount" xlink:to="iret_NonInterestBearingAccount_lbl1" xlink:title="label: NonInterestBearingAccount to iret_NonInterestBearingAccount_lbl1" />
    <link:label xlink:type="resource" xlink:label="iret_NonInterestBearingAccount_lbl2" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:title="iret_NonInterestBearingAccount_lbl2" xml:lang="en-US" id="iret_NonInterestBearingAccount_lbl2">Non-interest bearing account</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="NonInterestBearingAccount" xlink:to="iret_NonInterestBearingAccount_lbl2" xlink:title="label: NonInterestBearingAccount to iret_NonInterestBearingAccount_lbl2" />
    <link:loc xlink:type="locator" xlink:href="iret-20130131.xsd#iret_MarkToMarketAdjustments" xlink:label="MarkToMarketAdjustments" xlink:title="MarkToMarketAdjustments" />
    <link:label xlink:type="resource" xlink:label="iret_MarkToMarketAdjustments_lbl" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:title="iret_MarkToMarketAdjustments_lbl" xml:lang="en-US" id="iret_MarkToMarketAdjustments_lbl">Mark to market adjustments for redeemable noncontrolling interests.</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="MarkToMarketAdjustments" xlink:to="iret_MarkToMarketAdjustments_lbl" xlink:title="label: MarkToMarketAdjustments to iret_MarkToMarketAdjustments_lbl" />
    <link:label xlink:type="resource" xlink:label="iret_MarkToMarketAdjustments_lbl1" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="iret_MarkToMarketAdjustments_lbl1" xml:lang="en-US" id="iret_MarkToMarketAdjustments_lbl1">Mark to market adjustments</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="MarkToMarketAdjustments" xlink:to="iret_MarkToMarketAdjustments_lbl1" xlink:title="label: MarkToMarketAdjustments to iret_MarkToMarketAdjustments_lbl1" />
    <link:label xlink:type="resource" xlink:label="iret_MarkToMarketAdjustments_lbl2" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:title="iret_MarkToMarketAdjustments_lbl2" xml:lang="en-US" id="iret_MarkToMarketAdjustments_lbl2">Mark-to-market adjustments</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="MarkToMarketAdjustments" xlink:to="iret_MarkToMarketAdjustments_lbl2" xlink:title="label: MarkToMarketAdjustments to iret_MarkToMarketAdjustments_lbl2" />
    <link:loc xlink:type="locator" xlink:href="iret-20130131.xsd#iret_AcquisitionOfJointVenturePartnerSInterest" xlink:label="AcquisitionOfJointVenturePartnerSInterest" xlink:title="AcquisitionOfJointVenturePartnerSInterest" />
    <link:label xlink:type="resource" xlink:label="iret_AcquisitionOfJointVenturePartnerSInterest_lbl" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:title="iret_AcquisitionOfJointVenturePartnerSInterest_lbl" xml:lang="en-US" id="iret_AcquisitionOfJointVenturePartnerSInterest_lbl">Acquisition of joint venture partner's interest.</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="AcquisitionOfJointVenturePartnerSInterest" xlink:to="iret_AcquisitionOfJointVenturePartnerSInterest_lbl" xlink:title="label: AcquisitionOfJointVenturePartnerSInterest to iret_AcquisitionOfJointVenturePartnerSInterest_lbl" />
    <link:label xlink:type="resource" xlink:label="iret_AcquisitionOfJointVenturePartnerSInterest_lbl1" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="iret_AcquisitionOfJointVenturePartnerSInterest_lbl1" xml:lang="en-US" id="iret_AcquisitionOfJointVenturePartnerSInterest_lbl1">Acquisition of joint venture partner's interest</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="AcquisitionOfJointVenturePartnerSInterest" xlink:to="iret_AcquisitionOfJointVenturePartnerSInterest_lbl1" xlink:title="label: AcquisitionOfJointVenturePartnerSInterest to iret_AcquisitionOfJointVenturePartnerSInterest_lbl1" />
    <link:loc xlink:type="locator" xlink:href="iret-20130131.xsd#iret_ContinuousEquityOfferingProgramMember" xlink:label="ContinuousEquityOfferingProgramMember" xlink:title="ContinuousEquityOfferingProgramMember" />
    <link:label xlink:type="resource" xlink:label="iret_ContinuousEquityOfferingProgramMember_lbl" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:title="iret_ContinuousEquityOfferingProgramMember_lbl" xml:lang="en-US" id="iret_ContinuousEquityOfferingProgramMember_lbl">Continuous equity offering program for issuing shares.</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ContinuousEquityOfferingProgramMember" xlink:to="iret_ContinuousEquityOfferingProgramMember_lbl" xlink:title="label: ContinuousEquityOfferingProgramMember to iret_ContinuousEquityOfferingProgramMember_lbl" />
    <link:label xlink:type="resource" xlink:label="iret_ContinuousEquityOfferingProgramMember_lbl1" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="iret_ContinuousEquityOfferingProgramMember_lbl1" xml:lang="en-US" id="iret_ContinuousEquityOfferingProgramMember_lbl1">Continuous equity offering program [Member]</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ContinuousEquityOfferingProgramMember" xlink:to="iret_ContinuousEquityOfferingProgramMember_lbl1" xlink:title="label: ContinuousEquityOfferingProgramMember to iret_ContinuousEquityOfferingProgramMember_lbl1" />
    <link:loc xlink:type="locator" xlink:href="iret-20130131.xsd#iret_KPlanMember" xlink:label="KPlanMember" xlink:title="KPlanMember" />
    <link:label xlink:type="resource" xlink:label="iret_KPlanMember_lbl" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:title="iret_KPlanMember_lbl" xml:lang="en-US" id="iret_KPlanMember_lbl">401(k) plan for issuing shares.</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="KPlanMember" xlink:to="iret_KPlanMember_lbl" xlink:title="label: KPlanMember to iret_KPlanMember_lbl" />
    <link:label xlink:type="resource" xlink:label="iret_KPlanMember_lbl1" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="iret_KPlanMember_lbl1" xml:lang="en-US" id="iret_KPlanMember_lbl1">401(k) plan [Member]</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="KPlanMember" xlink:to="iret_KPlanMember_lbl1" xlink:title="label: KPlanMember to iret_KPlanMember_lbl1" />
    <link:loc xlink:type="locator" xlink:href="iret-20130131.xsd#iret_DistributionReinvestmentAndSharePurchasePlanMember" xlink:label="DistributionReinvestmentAndSharePurchasePlanMember" xlink:title="DistributionReinvestmentAndSharePurchasePlanMember" />
    <link:label xlink:type="resource" xlink:label="iret_DistributionReinvestmentAndSharePurchasePlanMember_lbl" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:title="iret_DistributionReinvestmentAndSharePurchasePlanMember_lbl" xml:lang="en-US" id="iret_DistributionReinvestmentAndSharePurchasePlanMember_lbl">Distribution Reinvestment and Share Purchase Plan to issue the shares.</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="DistributionReinvestmentAndSharePurchasePlanMember" xlink:to="iret_DistributionReinvestmentAndSharePurchasePlanMember_lbl" xlink:title="label: DistributionReinvestmentAndSharePurchasePlanMember to iret_DistributionReinvestmentAndSharePurchasePlanMember_lbl" />
    <link:label xlink:type="resource" xlink:label="iret_DistributionReinvestmentAndSharePurchasePlanMember_lbl1" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="iret_DistributionReinvestmentAndSharePurchasePlanMember_lbl1" xml:lang="en-US" id="iret_DistributionReinvestmentAndSharePurchasePlanMember_lbl1">Distribution Reinvestment and Share Purchase Plan [Member]</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="DistributionReinvestmentAndSharePurchasePlanMember" xlink:to="iret_DistributionReinvestmentAndSharePurchasePlanMember_lbl1" xlink:title="label: DistributionReinvestmentAndSharePurchasePlanMember to iret_DistributionReinvestmentAndSharePurchasePlanMember_lbl1" />
    <link:loc xlink:type="locator" xlink:href="iret-20130131.xsd#iret_PublicOfferingMember" xlink:label="PublicOfferingMember" xlink:title="PublicOfferingMember" />
    <link:label xlink:type="resource" xlink:label="iret_PublicOfferingMember_lbl" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:title="iret_PublicOfferingMember_lbl" xml:lang="en-US" id="iret_PublicOfferingMember_lbl">The entity's public offering of stocks to the public.</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="PublicOfferingMember" xlink:to="iret_PublicOfferingMember_lbl" xlink:title="label: PublicOfferingMember to iret_PublicOfferingMember_lbl" />
    <link:label xlink:type="resource" xlink:label="iret_PublicOfferingMember_lbl1" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="iret_PublicOfferingMember_lbl1" xml:lang="en-US" id="iret_PublicOfferingMember_lbl1">Public Offering [Member]</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="PublicOfferingMember" xlink:to="iret_PublicOfferingMember_lbl1" xlink:title="label: PublicOfferingMember to iret_PublicOfferingMember_lbl1" />
    <link:loc xlink:type="locator" xlink:href="iret-20130131.xsd#iret_SharesPerPricePublicOffering" xlink:label="SharesPerPricePublicOffering" xlink:title="SharesPerPricePublicOffering" />
    <link:label xlink:type="resource" xlink:label="iret_SharesPerPricePublicOffering_lbl" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:title="iret_SharesPerPricePublicOffering_lbl" xml:lang="en-US" id="iret_SharesPerPricePublicOffering_lbl">The shares per price related to the public offering of Series B Cumulative Redeemable Preferred Shares of Beneficial Interest.</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="SharesPerPricePublicOffering" xlink:to="iret_SharesPerPricePublicOffering_lbl" xlink:title="label: SharesPerPricePublicOffering to iret_SharesPerPricePublicOffering_lbl" />
    <link:label xlink:type="resource" xlink:label="iret_SharesPerPricePublicOffering_lbl1" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="iret_SharesPerPricePublicOffering_lbl1" xml:lang="en-US" id="iret_SharesPerPricePublicOffering_lbl1">Shares per price, public offering</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="SharesPerPricePublicOffering" xlink:to="iret_SharesPerPricePublicOffering_lbl1" xlink:title="label: SharesPerPricePublicOffering to iret_SharesPerPricePublicOffering_lbl1" />
    <link:label xlink:type="resource" xlink:label="iret_SharesPerPricePublicOffering_lbl2" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:title="iret_SharesPerPricePublicOffering_lbl2" xml:lang="en-US" id="iret_SharesPerPricePublicOffering_lbl2">Shares per price, public offering (in dollars per share)</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="SharesPerPricePublicOffering" xlink:to="iret_SharesPerPricePublicOffering_lbl2" xlink:title="label: SharesPerPricePublicOffering to iret_SharesPerPricePublicOffering_lbl2" />
    <link:loc xlink:type="locator" xlink:href="iret-20130131.xsd#iret_ProceedsFromIssuanceOfSeriesBPreferredShares" xlink:label="ProceedsFromIssuanceOfSeriesBPreferredShares" xlink:title="ProceedsFromIssuanceOfSeriesBPreferredShares" />
    <link:label xlink:type="resource" xlink:label="iret_ProceedsFromIssuanceOfSeriesBPreferredShares_lbl" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:title="iret_ProceedsFromIssuanceOfSeriesBPreferredShares_lbl" xml:lang="en-US" id="iret_ProceedsFromIssuanceOfSeriesBPreferredShares_lbl">The proceeds from issuance of Series B preferred shares, net of underwriting discounts and estimated offering expenses.</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ProceedsFromIssuanceOfSeriesBPreferredShares" xlink:to="iret_ProceedsFromIssuanceOfSeriesBPreferredShares_lbl" xlink:title="label: ProceedsFromIssuanceOfSeriesBPreferredShares to iret_ProceedsFromIssuanceOfSeriesBPreferredShares_lbl" />
    <link:label xlink:type="resource" xlink:label="iret_ProceedsFromIssuanceOfSeriesBPreferredShares_lbl1" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="iret_ProceedsFromIssuanceOfSeriesBPreferredShares_lbl1" xml:lang="en-US" id="iret_ProceedsFromIssuanceOfSeriesBPreferredShares_lbl1">Proceeds from issuance of Series B preferred shares</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ProceedsFromIssuanceOfSeriesBPreferredShares" xlink:to="iret_ProceedsFromIssuanceOfSeriesBPreferredShares_lbl1" xlink:title="label: ProceedsFromIssuanceOfSeriesBPreferredShares to iret_ProceedsFromIssuanceOfSeriesBPreferredShares_lbl1" />
    <link:loc xlink:type="locator" xlink:href="iret-20130131.xsd#iret_PerShareAmountOfRedeemableNonvotingStocks" xlink:label="PerShareAmountOfRedeemableNonvotingStocks" xlink:title="PerShareAmountOfRedeemableNonvotingStocks" />
    <link:label xlink:type="resource" xlink:label="iret_PerShareAmountOfRedeemableNonvotingStocks_lbl" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:title="iret_PerShareAmountOfRedeemableNonvotingStocks_lbl" xml:lang="en-US" id="iret_PerShareAmountOfRedeemableNonvotingStocks_lbl">The amount per share of redeemable nonvoting stocks issued to the public.</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="PerShareAmountOfRedeemableNonvotingStocks" xlink:to="iret_PerShareAmountOfRedeemableNonvotingStocks_lbl" xlink:title="label: PerShareAmountOfRedeemableNonvotingStocks to iret_PerShareAmountOfRedeemableNonvotingStocks_lbl" />
    <link:label xlink:type="resource" xlink:label="iret_PerShareAmountOfRedeemableNonvotingStocks_lbl1" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="iret_PerShareAmountOfRedeemableNonvotingStocks_lbl1" xml:lang="en-US" id="iret_PerShareAmountOfRedeemableNonvotingStocks_lbl1">Per share amount of redeemable nonvoting stocks</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="PerShareAmountOfRedeemableNonvotingStocks" xlink:to="iret_PerShareAmountOfRedeemableNonvotingStocks_lbl1" xlink:title="label: PerShareAmountOfRedeemableNonvotingStocks to iret_PerShareAmountOfRedeemableNonvotingStocks_lbl1" />
    <link:label xlink:type="resource" xlink:label="iret_PerShareAmountOfRedeemableNonvotingStocks_lbl2" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:title="iret_PerShareAmountOfRedeemableNonvotingStocks_lbl2" xml:lang="en-US" id="iret_PerShareAmountOfRedeemableNonvotingStocks_lbl2">Per share amount of redeemable nonvoting stocks (in dollars per share)</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="PerShareAmountOfRedeemableNonvotingStocks" xlink:to="iret_PerShareAmountOfRedeemableNonvotingStocks_lbl2" xlink:title="label: PerShareAmountOfRedeemableNonvotingStocks to iret_PerShareAmountOfRedeemableNonvotingStocks_lbl2" />
    <link:loc xlink:type="locator" xlink:href="iret-20130131.xsd#iret_PerShareAmountOfAnnualDistributionsAccruedAnnually" xlink:label="PerShareAmountOfAnnualDistributionsAccruedAnnually" xlink:title="PerShareAmountOfAnnualDistributionsAccruedAnnually" />
    <link:label xlink:type="resource" xlink:label="iret_PerShareAmountOfAnnualDistributionsAccruedAnnually_lbl" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:title="iret_PerShareAmountOfAnnualDistributionsAccruedAnnually_lbl" xml:lang="en-US" id="iret_PerShareAmountOfAnnualDistributionsAccruedAnnually_lbl">The per share amount of annual distributions accrued annually.</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="PerShareAmountOfAnnualDistributionsAccruedAnnually" xlink:to="iret_PerShareAmountOfAnnualDistributionsAccruedAnnually_lbl" xlink:title="label: PerShareAmountOfAnnualDistributionsAccruedAnnually to iret_PerShareAmountOfAnnualDistributionsAccruedAnnually_lbl" />
    <link:label xlink:type="resource" xlink:label="iret_PerShareAmountOfAnnualDistributionsAccruedAnnually_lbl1" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="iret_PerShareAmountOfAnnualDistributionsAccruedAnnually_lbl1" xml:lang="en-US" id="iret_PerShareAmountOfAnnualDistributionsAccruedAnnually_lbl1">Per share amount of annual distributions accrued annually</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="PerShareAmountOfAnnualDistributionsAccruedAnnually" xlink:to="iret_PerShareAmountOfAnnualDistributionsAccruedAnnually_lbl1" xlink:title="label: PerShareAmountOfAnnualDistributionsAccruedAnnually to iret_PerShareAmountOfAnnualDistributionsAccruedAnnually_lbl1" />
    <link:label xlink:type="resource" xlink:label="iret_PerShareAmountOfAnnualDistributionsAccruedAnnually_lbl2" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:title="iret_PerShareAmountOfAnnualDistributionsAccruedAnnually_lbl2" xml:lang="en-US" id="iret_PerShareAmountOfAnnualDistributionsAccruedAnnually_lbl2">Per share amount of annual distributions accrued annually (in dollars per share)</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="PerShareAmountOfAnnualDistributionsAccruedAnnually" xlink:to="iret_PerShareAmountOfAnnualDistributionsAccruedAnnually_lbl2" xlink:title="label: PerShareAmountOfAnnualDistributionsAccruedAnnually to iret_PerShareAmountOfAnnualDistributionsAccruedAnnually_lbl2" />
    <link:loc xlink:type="locator" xlink:href="iret-20130131.xsd#iret_LiquidationPreferenceRateOfPreferredShares" xlink:label="LiquidationPreferenceRateOfPreferredShares" xlink:title="LiquidationPreferenceRateOfPreferredShares" />
    <link:label xlink:type="resource" xlink:label="iret_LiquidationPreferenceRateOfPreferredShares_lbl" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:title="iret_LiquidationPreferenceRateOfPreferredShares_lbl" xml:lang="en-US" id="iret_LiquidationPreferenceRateOfPreferredShares_lbl">The liquidation preference rate of preferred shares.</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="LiquidationPreferenceRateOfPreferredShares" xlink:to="iret_LiquidationPreferenceRateOfPreferredShares_lbl" xlink:title="label: LiquidationPreferenceRateOfPreferredShares to iret_LiquidationPreferenceRateOfPreferredShares_lbl" />
    <link:label xlink:type="resource" xlink:label="iret_LiquidationPreferenceRateOfPreferredShares_lbl1" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="iret_LiquidationPreferenceRateOfPreferredShares_lbl1" xml:lang="en-US" id="iret_LiquidationPreferenceRateOfPreferredShares_lbl1">Liquidation preference rate of preferred shares</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="LiquidationPreferenceRateOfPreferredShares" xlink:to="iret_LiquidationPreferenceRateOfPreferredShares_lbl1" xlink:title="label: LiquidationPreferenceRateOfPreferredShares to iret_LiquidationPreferenceRateOfPreferredShares_lbl1" />
    <link:label xlink:type="resource" xlink:label="iret_LiquidationPreferenceRateOfPreferredShares_lbl2" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:title="iret_LiquidationPreferenceRateOfPreferredShares_lbl2" xml:lang="en-US" id="iret_LiquidationPreferenceRateOfPreferredShares_lbl2">Liquidation preference rate of preferred shares (in hundredths)</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="LiquidationPreferenceRateOfPreferredShares" xlink:to="iret_LiquidationPreferenceRateOfPreferredShares_lbl2" xlink:title="label: LiquidationPreferenceRateOfPreferredShares to iret_LiquidationPreferenceRateOfPreferredShares_lbl2" />
    <link:loc xlink:type="locator" xlink:href="iret-20130131.xsd#iret_ProceedsFromIssuanceOfSeriesBPreferredUnitsAppliedAsDebtRepayment" xlink:label="ProceedsFromIssuanceOfSeriesBPreferredUnitsAppliedAsDebtRepayment" xlink:title="ProceedsFromIssuanceOfSeriesBPreferredUnitsAppliedAsDebtRepayment" />
    <link:label xlink:type="resource" xlink:label="iret_ProceedsFromIssuanceOfSeriesBPreferredUnitsAppliedAsDebtRepayment_lbl" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:title="iret_ProceedsFromIssuanceOfSeriesBPreferredUnitsAppliedAsDebtRepayment_lbl" xml:lang="en-US" id="iret_ProceedsFromIssuanceOfSeriesBPreferredUnitsAppliedAsDebtRepayment_lbl">Proceeds from issuance of Series B preferred units applied as debt repayment.</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ProceedsFromIssuanceOfSeriesBPreferredUnitsAppliedAsDebtRepayment" xlink:to="iret_ProceedsFromIssuanceOfSeriesBPreferredUnitsAppliedAsDebtRepayment_lbl" xlink:title="label: ProceedsFromIssuanceOfSeriesBPreferredUnitsAppliedAsDebtRepayment to iret_ProceedsFromIssuanceOfSeriesBPreferredUnitsAppliedAsDebtRepayment_lbl" />
    <link:label xlink:type="resource" xlink:label="iret_ProceedsFromIssuanceOfSeriesBPreferredUnitsAppliedAsDebtRepayment_lbl1" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="iret_ProceedsFromIssuanceOfSeriesBPreferredUnitsAppliedAsDebtRepayment_lbl1" xml:lang="en-US" id="iret_ProceedsFromIssuanceOfSeriesBPreferredUnitsAppliedAsDebtRepayment_lbl1">Proceeds from issuance of Series B preferred units applied as debt repayment</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ProceedsFromIssuanceOfSeriesBPreferredUnitsAppliedAsDebtRepayment" xlink:to="iret_ProceedsFromIssuanceOfSeriesBPreferredUnitsAppliedAsDebtRepayment_lbl1" xlink:title="label: ProceedsFromIssuanceOfSeriesBPreferredUnitsAppliedAsDebtRepayment to iret_ProceedsFromIssuanceOfSeriesBPreferredUnitsAppliedAsDebtRepayment_lbl1" />
    <link:loc xlink:type="locator" xlink:href="iret-20130131.xsd#iret_AggregatePublicOfferingPriceMaximum" xlink:label="AggregatePublicOfferingPriceMaximum" xlink:title="AggregatePublicOfferingPriceMaximum" />
    <link:label xlink:type="resource" xlink:label="iret_AggregatePublicOfferingPriceMaximum_lbl" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:title="iret_AggregatePublicOfferingPriceMaximum_lbl" xml:lang="en-US" id="iret_AggregatePublicOfferingPriceMaximum_lbl">Maximum aggregate public offering price for common and preferred shares of beneficial interest registered.</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="AggregatePublicOfferingPriceMaximum" xlink:to="iret_AggregatePublicOfferingPriceMaximum_lbl" xlink:title="label: AggregatePublicOfferingPriceMaximum to iret_AggregatePublicOfferingPriceMaximum_lbl" />
    <link:label xlink:type="resource" xlink:label="iret_AggregatePublicOfferingPriceMaximum_lbl1" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="iret_AggregatePublicOfferingPriceMaximum_lbl1" xml:lang="en-US" id="iret_AggregatePublicOfferingPriceMaximum_lbl1">Aggregate public offering price, maximum</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="AggregatePublicOfferingPriceMaximum" xlink:to="iret_AggregatePublicOfferingPriceMaximum_lbl1" xlink:title="label: AggregatePublicOfferingPriceMaximum to iret_AggregatePublicOfferingPriceMaximum_lbl1" />
    <link:loc xlink:type="locator" xlink:href="iret-20130131.xsd#iret_AggregateGrossSalesPriceOfCommonSharesOfBeneficialInterestMaximum" xlink:label="AggregateGrossSalesPriceOfCommonSharesOfBeneficialInterestMaximum" xlink:title="AggregateGrossSalesPriceOfCommonSharesOfBeneficialInterestMaximum" />
    <link:label xlink:type="resource" xlink:label="iret_AggregateGrossSalesPriceOfCommonSharesOfBeneficialInterestMaximum_lbl" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:title="iret_AggregateGrossSalesPriceOfCommonSharesOfBeneficialInterestMaximum_lbl" xml:lang="en-US" id="iret_AggregateGrossSalesPriceOfCommonSharesOfBeneficialInterestMaximum_lbl">Maximum aggregate gross sales price of common shares of beneficial interest.</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="AggregateGrossSalesPriceOfCommonSharesOfBeneficialInterestMaximum" xlink:to="iret_AggregateGrossSalesPriceOfCommonSharesOfBeneficialInterestMaximum_lbl" xlink:title="label: AggregateGrossSalesPriceOfCommonSharesOfBeneficialInterestMaximum to iret_AggregateGrossSalesPriceOfCommonSharesOfBeneficialInterestMaximum_lbl" />
    <link:label xlink:type="resource" xlink:label="iret_AggregateGrossSalesPriceOfCommonSharesOfBeneficialInterestMaximum_lbl1" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="iret_AggregateGrossSalesPriceOfCommonSharesOfBeneficialInterestMaximum_lbl1" xml:lang="en-US" id="iret_AggregateGrossSalesPriceOfCommonSharesOfBeneficialInterestMaximum_lbl1">Aggregate gross sales price of common shares of beneficial interest, maximum</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="AggregateGrossSalesPriceOfCommonSharesOfBeneficialInterestMaximum" xlink:to="iret_AggregateGrossSalesPriceOfCommonSharesOfBeneficialInterestMaximum_lbl1" xlink:title="label: AggregateGrossSalesPriceOfCommonSharesOfBeneficialInterestMaximum to iret_AggregateGrossSalesPriceOfCommonSharesOfBeneficialInterestMaximum_lbl1" />
    <link:loc xlink:type="locator" xlink:href="iret-20130131.xsd#iret_ExpiryPeriodOfReservedSharesForIssuance" xlink:label="ExpiryPeriodOfReservedSharesForIssuance" xlink:title="ExpiryPeriodOfReservedSharesForIssuance" />
    <link:label xlink:type="resource" xlink:label="iret_ExpiryPeriodOfReservedSharesForIssuance_lbl" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:title="iret_ExpiryPeriodOfReservedSharesForIssuance_lbl" xml:lang="en-US" id="iret_ExpiryPeriodOfReservedSharesForIssuance_lbl">Expiry period of reserved shares for issuance.</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ExpiryPeriodOfReservedSharesForIssuance" xlink:to="iret_ExpiryPeriodOfReservedSharesForIssuance_lbl" xlink:title="label: ExpiryPeriodOfReservedSharesForIssuance to iret_ExpiryPeriodOfReservedSharesForIssuance_lbl" />
    <link:label xlink:type="resource" xlink:label="iret_ExpiryPeriodOfReservedSharesForIssuance_lbl1" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="iret_ExpiryPeriodOfReservedSharesForIssuance_lbl1" xml:lang="en-US" id="iret_ExpiryPeriodOfReservedSharesForIssuance_lbl1">Expiry period of reserved shares for issuance</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ExpiryPeriodOfReservedSharesForIssuance" xlink:to="iret_ExpiryPeriodOfReservedSharesForIssuance_lbl1" xlink:title="label: ExpiryPeriodOfReservedSharesForIssuance to iret_ExpiryPeriodOfReservedSharesForIssuance_lbl1" />
    <link:loc xlink:type="locator" xlink:href="iret-20130131.xsd#iret_Multi-FamilyConversionMinotNorthDakotaMember" xlink:label="Multi-FamilyConversionMinotNorthDakotaMember" xlink:title="Multi-FamilyConversionMinotNorthDakotaMember" />
    <link:label xlink:type="resource" xlink:label="iret_Multi-FamilyConversionMinotNorthDakotaMember_lbl" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:title="iret_Multi-FamilyConversionMinotNorthDakotaMember_lbl" xml:lang="en-US" id="iret_Multi-FamilyConversionMinotNorthDakotaMember_lbl">Multi-Family Conversion, Minot, North Dakota for development, expansion and renovation projects underway or recently completed.</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="Multi-FamilyConversionMinotNorthDakotaMember" xlink:to="iret_Multi-FamilyConversionMinotNorthDakotaMember_lbl" xlink:title="label: Multi-FamilyConversionMinotNorthDakotaMember to iret_Multi-FamilyConversionMinotNorthDakotaMember_lbl" />
    <link:label xlink:type="resource" xlink:label="iret_Multi-FamilyConversionMinotNorthDakotaMember_lbl1" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="iret_Multi-FamilyConversionMinotNorthDakotaMember_lbl1" xml:lang="en-US" id="iret_Multi-FamilyConversionMinotNorthDakotaMember_lbl1">Multi-Family Conversion, Minot, North Dakota [Member]</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="Multi-FamilyConversionMinotNorthDakotaMember" xlink:to="iret_Multi-FamilyConversionMinotNorthDakotaMember_lbl1" xlink:title="label: Multi-FamilyConversionMinotNorthDakotaMember to iret_Multi-FamilyConversionMinotNorthDakotaMember_lbl1" />
    <link:loc xlink:type="locator" xlink:href="iret-20130131.xsd#iret_SeniorHousingMemoryCareAndAssistedLivingUnitsCasperWyomingMember" xlink:label="SeniorHousingMemoryCareAndAssistedLivingUnitsCasperWyomingMember" xlink:title="SeniorHousingMemoryCareAndAssistedLivingUnitsCasperWyomingMember" />
    <link:label xlink:type="resource" xlink:label="iret_SeniorHousingMemoryCareAndAssistedLivingUnitsCasperWyomingMember_lbl" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:title="iret_SeniorHousingMemoryCareAndAssistedLivingUnitsCasperWyomingMember_lbl" xml:lang="en-US" id="iret_SeniorHousingMemoryCareAndAssistedLivingUnitsCasperWyomingMember_lbl">Senior Housing Memory Care and Assisted Living Units, Casper, Wyoming for development, expansion and renovation projects underway or recently completed.</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="SeniorHousingMemoryCareAndAssistedLivingUnitsCasperWyomingMember" xlink:to="iret_SeniorHousingMemoryCareAndAssistedLivingUnitsCasperWyomingMember_lbl" xlink:title="label: SeniorHousingMemoryCareAndAssistedLivingUnitsCasperWyomingMember to iret_SeniorHousingMemoryCareAndAssistedLivingUnitsCasperWyomingMember_lbl" />
    <link:label xlink:type="resource" xlink:label="iret_SeniorHousingMemoryCareAndAssistedLivingUnitsCasperWyomingMember_lbl1" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="iret_SeniorHousingMemoryCareAndAssistedLivingUnitsCasperWyomingMember_lbl1" xml:lang="en-US" id="iret_SeniorHousingMemoryCareAndAssistedLivingUnitsCasperWyomingMember_lbl1">Senior Housing Memory Care and Assisted Living Units, Casper, Wyoming [Member]</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="SeniorHousingMemoryCareAndAssistedLivingUnitsCasperWyomingMember" xlink:to="iret_SeniorHousingMemoryCareAndAssistedLivingUnitsCasperWyomingMember_lbl1" xlink:title="label: SeniorHousingMemoryCareAndAssistedLivingUnitsCasperWyomingMember to iret_SeniorHousingMemoryCareAndAssistedLivingUnitsCasperWyomingMember_lbl1" />
    <link:loc xlink:type="locator" xlink:href="iret-20130131.xsd#iret_QuarryRidgeApartmentHomesRochesterMinnesotaMember" xlink:label="QuarryRidgeApartmentHomesRochesterMinnesotaMember" xlink:title="QuarryRidgeApartmentHomesRochesterMinnesotaMember" />
    <link:label xlink:type="resource" xlink:label="iret_QuarryRidgeApartmentHomesRochesterMinnesotaMember_lbl" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:title="iret_QuarryRidgeApartmentHomesRochesterMinnesotaMember_lbl" xml:lang="en-US" id="iret_QuarryRidgeApartmentHomesRochesterMinnesotaMember_lbl">Quarry Ridge Apartment Homes, Rochester, Minnesota for development, expansion and renovation projects underway or recently completed.</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="QuarryRidgeApartmentHomesRochesterMinnesotaMember" xlink:to="iret_QuarryRidgeApartmentHomesRochesterMinnesotaMember_lbl" xlink:title="label: QuarryRidgeApartmentHomesRochesterMinnesotaMember to iret_QuarryRidgeApartmentHomesRochesterMinnesotaMember_lbl" />
    <link:label xlink:type="resource" xlink:label="iret_QuarryRidgeApartmentHomesRochesterMinnesotaMember_lbl1" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="iret_QuarryRidgeApartmentHomesRochesterMinnesotaMember_lbl1" xml:lang="en-US" id="iret_QuarryRidgeApartmentHomesRochesterMinnesotaMember_lbl1">Quarry Ridge Apartment Homes, Rochester, Minnesota [Member]</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="QuarryRidgeApartmentHomesRochesterMinnesotaMember" xlink:to="iret_QuarryRidgeApartmentHomesRochesterMinnesotaMember_lbl1" xlink:title="label: QuarryRidgeApartmentHomesRochesterMinnesotaMember to iret_QuarryRidgeApartmentHomesRochesterMinnesotaMember_lbl1" />
    <link:loc xlink:type="locator" xlink:href="iret-20130131.xsd#iret_WillistonApartmentsWillistonNorthDakotaMember" xlink:label="WillistonApartmentsWillistonNorthDakotaMember" xlink:title="WillistonApartmentsWillistonNorthDakotaMember" />
    <link:label xlink:type="resource" xlink:label="iret_WillistonApartmentsWillistonNorthDakotaMember_lbl" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:title="iret_WillistonApartmentsWillistonNorthDakotaMember_lbl" xml:lang="en-US" id="iret_WillistonApartmentsWillistonNorthDakotaMember_lbl">Williston Apartments, Williston, North Dakota for development, expansion and renovation projects underway or recently completed.</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="WillistonApartmentsWillistonNorthDakotaMember" xlink:to="iret_WillistonApartmentsWillistonNorthDakotaMember_lbl" xlink:title="label: WillistonApartmentsWillistonNorthDakotaMember to iret_WillistonApartmentsWillistonNorthDakotaMember_lbl" />
    <link:label xlink:type="resource" xlink:label="iret_WillistonApartmentsWillistonNorthDakotaMember_lbl1" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="iret_WillistonApartmentsWillistonNorthDakotaMember_lbl1" xml:lang="en-US" id="iret_WillistonApartmentsWillistonNorthDakotaMember_lbl1">Williston Apartments, Williston, North Dakota [Member]</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="WillistonApartmentsWillistonNorthDakotaMember" xlink:to="iret_WillistonApartmentsWillistonNorthDakotaMember_lbl1" xlink:title="label: WillistonApartmentsWillistonNorthDakotaMember to iret_WillistonApartmentsWillistonNorthDakotaMember_lbl1" />
    <link:loc xlink:type="locator" xlink:href="iret-20130131.xsd#iret_SeniorHousingMemoryCareAndAssistedLivingUnitsLaramieWyomingMember" xlink:label="SeniorHousingMemoryCareAndAssistedLivingUnitsLaramieWyomingMember" xlink:title="SeniorHousingMemoryCareAndAssistedLivingUnitsLaramieWyomingMember" />
    <link:label xlink:type="resource" xlink:label="iret_SeniorHousingMemoryCareAndAssistedLivingUnitsLaramieWyomingMember_lbl" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:title="iret_SeniorHousingMemoryCareAndAssistedLivingUnitsLaramieWyomingMember_lbl" xml:lang="en-US" id="iret_SeniorHousingMemoryCareAndAssistedLivingUnitsLaramieWyomingMember_lbl">Senior Housing Memory Care and Assisted Living Units, Laramie, Wyoming for development, expansion and renovation projects underway or recently completed.</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="SeniorHousingMemoryCareAndAssistedLivingUnitsLaramieWyomingMember" xlink:to="iret_SeniorHousingMemoryCareAndAssistedLivingUnitsLaramieWyomingMember_lbl" xlink:title="label: SeniorHousingMemoryCareAndAssistedLivingUnitsLaramieWyomingMember to iret_SeniorHousingMemoryCareAndAssistedLivingUnitsLaramieWyomingMember_lbl" />
    <link:label xlink:type="resource" xlink:label="iret_SeniorHousingMemoryCareAndAssistedLivingUnitsLaramieWyomingMember_lbl1" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="iret_SeniorHousingMemoryCareAndAssistedLivingUnitsLaramieWyomingMember_lbl1" xml:lang="en-US" id="iret_SeniorHousingMemoryCareAndAssistedLivingUnitsLaramieWyomingMember_lbl1">Senior Housing Memory Care and Assisted Living Units, Laramie, Wyoming [Member]</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="SeniorHousingMemoryCareAndAssistedLivingUnitsLaramieWyomingMember" xlink:to="iret_SeniorHousingMemoryCareAndAssistedLivingUnitsLaramieWyomingMember_lbl1" xlink:title="label: SeniorHousingMemoryCareAndAssistedLivingUnitsLaramieWyomingMember to iret_SeniorHousingMemoryCareAndAssistedLivingUnitsLaramieWyomingMember_lbl1" />
    <link:loc xlink:type="locator" xlink:href="iret-20130131.xsd#iret_Industrial-OfficeBuild-To-SuitMinotNorthDakotaMember" xlink:label="Industrial-OfficeBuild-To-SuitMinotNorthDakotaMember" xlink:title="Industrial-OfficeBuild-To-SuitMinotNorthDakotaMember" />
    <link:label xlink:type="resource" xlink:label="iret_Industrial-OfficeBuild-To-SuitMinotNorthDakotaMember_lbl" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:title="iret_Industrial-OfficeBuild-To-SuitMinotNorthDakotaMember_lbl" xml:lang="en-US" id="iret_Industrial-OfficeBuild-To-SuitMinotNorthDakotaMember_lbl">Industrial-Office Build-to-Suit, Minot, North Dakota for development, expansion and renovation projects underway or recently completed.</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="Industrial-OfficeBuild-To-SuitMinotNorthDakotaMember" xlink:to="iret_Industrial-OfficeBuild-To-SuitMinotNorthDakotaMember_lbl" xlink:title="label: Industrial-OfficeBuild-To-SuitMinotNorthDakotaMember to iret_Industrial-OfficeBuild-To-SuitMinotNorthDakotaMember_lbl" />
    <link:label xlink:type="resource" xlink:label="iret_Industrial-OfficeBuild-To-SuitMinotNorthDakotaMember_lbl1" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="iret_Industrial-OfficeBuild-To-SuitMinotNorthDakotaMember_lbl1" xml:lang="en-US" id="iret_Industrial-OfficeBuild-To-SuitMinotNorthDakotaMember_lbl1">Industrial-Office Build-to-Suit, Minot, North Dakota [Member]</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="Industrial-OfficeBuild-To-SuitMinotNorthDakotaMember" xlink:to="iret_Industrial-OfficeBuild-To-SuitMinotNorthDakotaMember_lbl1" xlink:title="label: Industrial-OfficeBuild-To-SuitMinotNorthDakotaMember to iret_Industrial-OfficeBuild-To-SuitMinotNorthDakotaMember_lbl1" />
    <link:loc xlink:type="locator" xlink:href="iret-20130131.xsd#iret_JamestownMedicalOfficeBuildingJamestownNorthDakotaMember" xlink:label="JamestownMedicalOfficeBuildingJamestownNorthDakotaMember" xlink:title="JamestownMedicalOfficeBuildingJamestownNorthDakotaMember" />
    <link:label xlink:type="resource" xlink:label="iret_JamestownMedicalOfficeBuildingJamestownNorthDakotaMember_lbl" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:title="iret_JamestownMedicalOfficeBuildingJamestownNorthDakotaMember_lbl" xml:lang="en-US" id="iret_JamestownMedicalOfficeBuildingJamestownNorthDakotaMember_lbl">Jamestown Medical Office Building, Jamestown, North Dakota for development, expansion and renovation projects underway or recently completed.</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="JamestownMedicalOfficeBuildingJamestownNorthDakotaMember" xlink:to="iret_JamestownMedicalOfficeBuildingJamestownNorthDakotaMember_lbl" xlink:title="label: JamestownMedicalOfficeBuildingJamestownNorthDakotaMember to iret_JamestownMedicalOfficeBuildingJamestownNorthDakotaMember_lbl" />
    <link:label xlink:type="resource" xlink:label="iret_JamestownMedicalOfficeBuildingJamestownNorthDakotaMember_lbl1" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="iret_JamestownMedicalOfficeBuildingJamestownNorthDakotaMember_lbl1" xml:lang="en-US" id="iret_JamestownMedicalOfficeBuildingJamestownNorthDakotaMember_lbl1">Jamestown Medical Office Building, Jamestown, North Dakota [Member]</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="JamestownMedicalOfficeBuildingJamestownNorthDakotaMember" xlink:to="iret_JamestownMedicalOfficeBuildingJamestownNorthDakotaMember_lbl1" xlink:title="label: JamestownMedicalOfficeBuildingJamestownNorthDakotaMember to iret_JamestownMedicalOfficeBuildingJamestownNorthDakotaMember_lbl1" />
    <link:loc xlink:type="locator" xlink:href="iret-20130131.xsd#iret_BranchBankBuildingMinotNorthDakotaMember" xlink:label="BranchBankBuildingMinotNorthDakotaMember" xlink:title="BranchBankBuildingMinotNorthDakotaMember" />
    <link:label xlink:type="resource" xlink:label="iret_BranchBankBuildingMinotNorthDakotaMember_lbl" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:title="iret_BranchBankBuildingMinotNorthDakotaMember_lbl" xml:lang="en-US" id="iret_BranchBankBuildingMinotNorthDakotaMember_lbl">Branch Bank Building, Minot, North Dakota for development, expansion and renovation projects underway or recently completed.</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="BranchBankBuildingMinotNorthDakotaMember" xlink:to="iret_BranchBankBuildingMinotNorthDakotaMember_lbl" xlink:title="label: BranchBankBuildingMinotNorthDakotaMember to iret_BranchBankBuildingMinotNorthDakotaMember_lbl" />
    <link:label xlink:type="resource" xlink:label="iret_BranchBankBuildingMinotNorthDakotaMember_lbl1" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="iret_BranchBankBuildingMinotNorthDakotaMember_lbl1" xml:lang="en-US" id="iret_BranchBankBuildingMinotNorthDakotaMember_lbl1">Branch Bank Building, Minot, North Dakota [Member]</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="BranchBankBuildingMinotNorthDakotaMember" xlink:to="iret_BranchBankBuildingMinotNorthDakotaMember_lbl1" xlink:title="label: BranchBankBuildingMinotNorthDakotaMember to iret_BranchBankBuildingMinotNorthDakotaMember_lbl1" />
    <link:loc xlink:type="locator" xlink:href="iret-20130131.xsd#iret_RiverRidgeApartmentHomesBismarckNdMember" xlink:label="RiverRidgeApartmentHomesBismarckNdMember" xlink:title="RiverRidgeApartmentHomesBismarckNdMember" />
    <link:label xlink:type="resource" xlink:label="iret_RiverRidgeApartmentHomesBismarckNdMember_lbl1" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="iret_RiverRidgeApartmentHomesBismarckNdMember_lbl1" xml:lang="en-US" id="iret_RiverRidgeApartmentHomesBismarckNdMember_lbl1">River Ridge Apartment Homes, Bismarck, ND [Member]</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="RiverRidgeApartmentHomesBismarckNdMember" xlink:to="iret_RiverRidgeApartmentHomesBismarckNdMember_lbl1" xlink:title="label: RiverRidgeApartmentHomesBismarckNdMember to iret_RiverRidgeApartmentHomesBismarckNdMember_lbl1" />
    <link:loc xlink:type="locator" xlink:href="iret-20130131.xsd#iret_CypressCourtApartmentHomesStCloudMinnesotaMember" xlink:label="CypressCourtApartmentHomesStCloudMinnesotaMember" xlink:title="CypressCourtApartmentHomesStCloudMinnesotaMember" />
    <link:label xlink:type="resource" xlink:label="iret_CypressCourtApartmentHomesStCloudMinnesotaMember_lbl1" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="iret_CypressCourtApartmentHomesStCloudMinnesotaMember_lbl1" xml:lang="en-US" id="iret_CypressCourtApartmentHomesStCloudMinnesotaMember_lbl1">Cypress Court Apartment Homes, St. Cloud, Minnesota [Member]</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="CypressCourtApartmentHomesStCloudMinnesotaMember" xlink:to="iret_CypressCourtApartmentHomesStCloudMinnesotaMember_lbl1" xlink:title="label: CypressCourtApartmentHomesStCloudMinnesotaMember to iret_CypressCourtApartmentHomesStCloudMinnesotaMember_lbl1" />
    <link:loc xlink:type="locator" xlink:href="iret-20130131.xsd#iret_SouthgateApartmentsMinotNorthDakotaMember" xlink:label="SouthgateApartmentsMinotNorthDakotaMember" xlink:title="SouthgateApartmentsMinotNorthDakotaMember" />
    <link:label xlink:type="resource" xlink:label="iret_SouthgateApartmentsMinotNorthDakotaMember_lbl1" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="iret_SouthgateApartmentsMinotNorthDakotaMember_lbl1" xml:lang="en-US" id="iret_SouthgateApartmentsMinotNorthDakotaMember_lbl1">Southgate Apartments, Minot, North Dakota [Member]</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="SouthgateApartmentsMinotNorthDakotaMember" xlink:to="iret_SouthgateApartmentsMinotNorthDakotaMember_lbl1" xlink:title="label: SouthgateApartmentsMinotNorthDakotaMember to iret_SouthgateApartmentsMinotNorthDakotaMember_lbl1" />
    <link:loc xlink:type="locator" xlink:href="iret-20130131.xsd#iret_NumberOfPropertiesSubjectToPurchaseOptions" xlink:label="NumberOfPropertiesSubjectToPurchaseOptions" xlink:title="NumberOfPropertiesSubjectToPurchaseOptions" />
    <link:label xlink:type="resource" xlink:label="iret_NumberOfPropertiesSubjectToPurchaseOptions_lbl" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:title="iret_NumberOfPropertiesSubjectToPurchaseOptions_lbl" xml:lang="en-US" id="iret_NumberOfPropertiesSubjectToPurchaseOptions_lbl">Number of properties subject to purchase options.</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="NumberOfPropertiesSubjectToPurchaseOptions" xlink:to="iret_NumberOfPropertiesSubjectToPurchaseOptions_lbl" xlink:title="label: NumberOfPropertiesSubjectToPurchaseOptions to iret_NumberOfPropertiesSubjectToPurchaseOptions_lbl" />
    <link:label xlink:type="resource" xlink:label="iret_NumberOfPropertiesSubjectToPurchaseOptions_lbl1" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="iret_NumberOfPropertiesSubjectToPurchaseOptions_lbl1" xml:lang="en-US" id="iret_NumberOfPropertiesSubjectToPurchaseOptions_lbl1">Number of properties subject to purchase options</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="NumberOfPropertiesSubjectToPurchaseOptions" xlink:to="iret_NumberOfPropertiesSubjectToPurchaseOptions_lbl1" xlink:title="label: NumberOfPropertiesSubjectToPurchaseOptions to iret_NumberOfPropertiesSubjectToPurchaseOptions_lbl1" />
    <link:loc xlink:type="locator" xlink:href="iret-20130131.xsd#iret_TotalPropertyCostSubjectToPurchaseOptions" xlink:label="TotalPropertyCostSubjectToPurchaseOptions" xlink:title="TotalPropertyCostSubjectToPurchaseOptions" />
    <link:label xlink:type="resource" xlink:label="iret_TotalPropertyCostSubjectToPurchaseOptions_lbl" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:title="iret_TotalPropertyCostSubjectToPurchaseOptions_lbl" xml:lang="en-US" id="iret_TotalPropertyCostSubjectToPurchaseOptions_lbl">Total property cost subject to purchase options.</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="TotalPropertyCostSubjectToPurchaseOptions" xlink:to="iret_TotalPropertyCostSubjectToPurchaseOptions_lbl" xlink:title="label: TotalPropertyCostSubjectToPurchaseOptions to iret_TotalPropertyCostSubjectToPurchaseOptions_lbl" />
    <link:label xlink:type="resource" xlink:label="iret_TotalPropertyCostSubjectToPurchaseOptions_lbl1" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="iret_TotalPropertyCostSubjectToPurchaseOptions_lbl1" xml:lang="en-US" id="iret_TotalPropertyCostSubjectToPurchaseOptions_lbl1">Total property cost subject to purchase options</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="TotalPropertyCostSubjectToPurchaseOptions" xlink:to="iret_TotalPropertyCostSubjectToPurchaseOptions_lbl1" xlink:title="label: TotalPropertyCostSubjectToPurchaseOptions to iret_TotalPropertyCostSubjectToPurchaseOptions_lbl1" />
    <link:loc xlink:type="locator" xlink:href="iret-20130131.xsd#iret_TotalGrossRentalRevenueFromPropertiesSubjectToPurchaseOptions" xlink:label="TotalGrossRentalRevenueFromPropertiesSubjectToPurchaseOptions" xlink:title="TotalGrossRentalRevenueFromPropertiesSubjectToPurchaseOptions" />
    <link:label xlink:type="resource" xlink:label="iret_TotalGrossRentalRevenueFromPropertiesSubjectToPurchaseOptions_lbl" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:title="iret_TotalGrossRentalRevenueFromPropertiesSubjectToPurchaseOptions_lbl" xml:lang="en-US" id="iret_TotalGrossRentalRevenueFromPropertiesSubjectToPurchaseOptions_lbl">Total gross rental revenue from properties subject to purchase options.</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="TotalGrossRentalRevenueFromPropertiesSubjectToPurchaseOptions" xlink:to="iret_TotalGrossRentalRevenueFromPropertiesSubjectToPurchaseOptions_lbl" xlink:title="label: TotalGrossRentalRevenueFromPropertiesSubjectToPurchaseOptions to iret_TotalGrossRentalRevenueFromPropertiesSubjectToPurchaseOptions_lbl" />
    <link:label xlink:type="resource" xlink:label="iret_TotalGrossRentalRevenueFromPropertiesSubjectToPurchaseOptions_lbl1" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="iret_TotalGrossRentalRevenueFromPropertiesSubjectToPurchaseOptions_lbl1" xml:lang="en-US" id="iret_TotalGrossRentalRevenueFromPropertiesSubjectToPurchaseOptions_lbl1">Total gross rental revenue from properties subject to purchase options</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="TotalGrossRentalRevenueFromPropertiesSubjectToPurchaseOptions" xlink:to="iret_TotalGrossRentalRevenueFromPropertiesSubjectToPurchaseOptions_lbl1" xlink:title="label: TotalGrossRentalRevenueFromPropertiesSubjectToPurchaseOptions to iret_TotalGrossRentalRevenueFromPropertiesSubjectToPurchaseOptions_lbl1" />
    <link:loc xlink:type="locator" xlink:href="iret-20130131.xsd#iret_NumberOfPropertiesSubjectToRestrictionsOnTaxableDispositions" xlink:label="NumberOfPropertiesSubjectToRestrictionsOnTaxableDispositions" xlink:title="NumberOfPropertiesSubjectToRestrictionsOnTaxableDispositions" />
    <link:label xlink:type="resource" xlink:label="iret_NumberOfPropertiesSubjectToRestrictionsOnTaxableDispositions_lbl" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:title="iret_NumberOfPropertiesSubjectToRestrictionsOnTaxableDispositions_lbl" xml:lang="en-US" id="iret_NumberOfPropertiesSubjectToRestrictionsOnTaxableDispositions_lbl">Number of properties subject to restrictions on taxable dispositions.</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="NumberOfPropertiesSubjectToRestrictionsOnTaxableDispositions" xlink:to="iret_NumberOfPropertiesSubjectToRestrictionsOnTaxableDispositions_lbl" xlink:title="label: NumberOfPropertiesSubjectToRestrictionsOnTaxableDispositions to iret_NumberOfPropertiesSubjectToRestrictionsOnTaxableDispositions_lbl" />
    <link:label xlink:type="resource" xlink:label="iret_NumberOfPropertiesSubjectToRestrictionsOnTaxableDispositions_lbl1" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="iret_NumberOfPropertiesSubjectToRestrictionsOnTaxableDispositions_lbl1" xml:lang="en-US" id="iret_NumberOfPropertiesSubjectToRestrictionsOnTaxableDispositions_lbl1">Number of properties subject to restrictions on taxable dispositions</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="NumberOfPropertiesSubjectToRestrictionsOnTaxableDispositions" xlink:to="iret_NumberOfPropertiesSubjectToRestrictionsOnTaxableDispositions_lbl1" xlink:title="label: NumberOfPropertiesSubjectToRestrictionsOnTaxableDispositions to iret_NumberOfPropertiesSubjectToRestrictionsOnTaxableDispositions_lbl1" />
    <link:loc xlink:type="locator" xlink:href="iret-20130131.xsd#iret_NumberOfApartmentUnitsPlacedInService" xlink:label="NumberOfApartmentUnitsPlacedInService" xlink:title="NumberOfApartmentUnitsPlacedInService" />
    <link:label xlink:type="resource" xlink:label="iret_NumberOfApartmentUnitsPlacedInService_lbl" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:title="iret_NumberOfApartmentUnitsPlacedInService_lbl" xml:lang="en-US" id="iret_NumberOfApartmentUnitsPlacedInService_lbl">The number of apartment units placed in service during the period.</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="NumberOfApartmentUnitsPlacedInService" xlink:to="iret_NumberOfApartmentUnitsPlacedInService_lbl" xlink:title="label: NumberOfApartmentUnitsPlacedInService to iret_NumberOfApartmentUnitsPlacedInService_lbl" />
    <link:label xlink:type="resource" xlink:label="iret_NumberOfApartmentUnitsPlacedInService_lbl1" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="iret_NumberOfApartmentUnitsPlacedInService_lbl1" xml:lang="en-US" id="iret_NumberOfApartmentUnitsPlacedInService_lbl1">Number of apartment units placed in service</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="NumberOfApartmentUnitsPlacedInService" xlink:to="iret_NumberOfApartmentUnitsPlacedInService_lbl1" xlink:title="label: NumberOfApartmentUnitsPlacedInService to iret_NumberOfApartmentUnitsPlacedInService_lbl1" />
    <link:loc xlink:type="locator" xlink:href="iret-20130131.xsd#iret_RedemptionHoldingPeriodMinimum" xlink:label="RedemptionHoldingPeriodMinimum" xlink:title="RedemptionHoldingPeriodMinimum" />
    <link:label xlink:type="resource" xlink:label="iret_RedemptionHoldingPeriodMinimum_lbl" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:title="iret_RedemptionHoldingPeriodMinimum_lbl" xml:lang="en-US" id="iret_RedemptionHoldingPeriodMinimum_lbl">Minimum redemption holding period.</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="RedemptionHoldingPeriodMinimum" xlink:to="iret_RedemptionHoldingPeriodMinimum_lbl" xlink:title="label: RedemptionHoldingPeriodMinimum to iret_RedemptionHoldingPeriodMinimum_lbl" />
    <link:label xlink:type="resource" xlink:label="iret_RedemptionHoldingPeriodMinimum_lbl1" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="iret_RedemptionHoldingPeriodMinimum_lbl1" xml:lang="en-US" id="iret_RedemptionHoldingPeriodMinimum_lbl1">Redemption holding period, minimum</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="RedemptionHoldingPeriodMinimum" xlink:to="iret_RedemptionHoldingPeriodMinimum_lbl1" xlink:title="label: RedemptionHoldingPeriodMinimum to iret_RedemptionHoldingPeriodMinimum_lbl1" />
    <link:loc xlink:type="locator" xlink:href="iret-20130131.xsd#iret_NumberOfConsecutiveTradingDaysForValuation" xlink:label="NumberOfConsecutiveTradingDaysForValuation" xlink:title="NumberOfConsecutiveTradingDaysForValuation" />
    <link:label xlink:type="resource" xlink:label="iret_NumberOfConsecutiveTradingDaysForValuation_lbl" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:title="iret_NumberOfConsecutiveTradingDaysForValuation_lbl" xml:lang="en-US" id="iret_NumberOfConsecutiveTradingDaysForValuation_lbl">Number of consecutive trading days for valuation.</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="NumberOfConsecutiveTradingDaysForValuation" xlink:to="iret_NumberOfConsecutiveTradingDaysForValuation_lbl" xlink:title="label: NumberOfConsecutiveTradingDaysForValuation to iret_NumberOfConsecutiveTradingDaysForValuation_lbl" />
    <link:label xlink:type="resource" xlink:label="iret_NumberOfConsecutiveTradingDaysForValuation_lbl1" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="iret_NumberOfConsecutiveTradingDaysForValuation_lbl1" xml:lang="en-US" id="iret_NumberOfConsecutiveTradingDaysForValuation_lbl1">Number of consecutive trading days for valuation</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="NumberOfConsecutiveTradingDaysForValuation" xlink:to="iret_NumberOfConsecutiveTradingDaysForValuation_lbl1" xlink:title="label: NumberOfConsecutiveTradingDaysForValuation to iret_NumberOfConsecutiveTradingDaysForValuation_lbl1" />
    <link:loc xlink:type="locator" xlink:href="iret-20130131.xsd#iret_RedemptionValueOfUpreitUnits" xlink:label="RedemptionValueOfUpreitUnits" xlink:title="RedemptionValueOfUpreitUnits" />
    <link:label xlink:type="resource" xlink:label="iret_RedemptionValueOfUpreitUnits_lbl" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:title="iret_RedemptionValueOfUpreitUnits_lbl" xml:lang="en-US" id="iret_RedemptionValueOfUpreitUnits_lbl">Redemption Value of UPREIT Units.</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="RedemptionValueOfUpreitUnits" xlink:to="iret_RedemptionValueOfUpreitUnits_lbl" xlink:title="label: RedemptionValueOfUpreitUnits to iret_RedemptionValueOfUpreitUnits_lbl" />
    <link:label xlink:type="resource" xlink:label="iret_RedemptionValueOfUpreitUnits_lbl1" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="iret_RedemptionValueOfUpreitUnits_lbl1" xml:lang="en-US" id="iret_RedemptionValueOfUpreitUnits_lbl1">Redemption Value of UPREIT Units</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="RedemptionValueOfUpreitUnits" xlink:to="iret_RedemptionValueOfUpreitUnits_lbl1" xlink:title="label: RedemptionValueOfUpreitUnits to iret_RedemptionValueOfUpreitUnits_lbl1" />
    <link:label xlink:type="resource" xlink:label="iret_RedemptionValueOfUpreitUnits_lbl2" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:title="iret_RedemptionValueOfUpreitUnits_lbl2" xml:lang="en-US" id="iret_RedemptionValueOfUpreitUnits_lbl2">Aggregate redemption value of UPREIT Units of operating partnership owned by limited partners</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="RedemptionValueOfUpreitUnits" xlink:to="iret_RedemptionValueOfUpreitUnits_lbl2" xlink:title="label: RedemptionValueOfUpreitUnits to iret_RedemptionValueOfUpreitUnits_lbl2" />
    <link:loc xlink:type="locator" xlink:href="iret-20130131.xsd#iret_CommitmentPeriodForTenantImprovements" xlink:label="CommitmentPeriodForTenantImprovements" xlink:title="CommitmentPeriodForTenantImprovements" />
    <link:label xlink:type="resource" xlink:label="iret_CommitmentPeriodForTenantImprovements_lbl" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:title="iret_CommitmentPeriodForTenantImprovements_lbl" xml:lang="en-US" id="iret_CommitmentPeriodForTenantImprovements_lbl">Commitment period for tenant improvements.</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="CommitmentPeriodForTenantImprovements" xlink:to="iret_CommitmentPeriodForTenantImprovements_lbl" xlink:title="label: CommitmentPeriodForTenantImprovements to iret_CommitmentPeriodForTenantImprovements_lbl" />
    <link:label xlink:type="resource" xlink:label="iret_CommitmentPeriodForTenantImprovements_lbl1" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="iret_CommitmentPeriodForTenantImprovements_lbl1" xml:lang="en-US" id="iret_CommitmentPeriodForTenantImprovements_lbl1">Commitment period for tenant improvements</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="CommitmentPeriodForTenantImprovements" xlink:to="iret_CommitmentPeriodForTenantImprovements_lbl1" xlink:title="label: CommitmentPeriodForTenantImprovements to iret_CommitmentPeriodForTenantImprovements_lbl1" />
    <link:loc xlink:type="locator" xlink:href="iret-20130131.xsd#iret_NumberOfAssistedLivingUnits" xlink:label="NumberOfAssistedLivingUnits" xlink:title="NumberOfAssistedLivingUnits" />
    <link:label xlink:type="resource" xlink:label="iret_NumberOfAssistedLivingUnits_lbl" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:title="iret_NumberOfAssistedLivingUnits_lbl" xml:lang="en-US" id="iret_NumberOfAssistedLivingUnits_lbl">Number of assisted living units.</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="NumberOfAssistedLivingUnits" xlink:to="iret_NumberOfAssistedLivingUnits_lbl" xlink:title="label: NumberOfAssistedLivingUnits to iret_NumberOfAssistedLivingUnits_lbl" />
    <link:label xlink:type="resource" xlink:label="iret_NumberOfAssistedLivingUnits_lbl1" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="iret_NumberOfAssistedLivingUnits_lbl1" xml:lang="en-US" id="iret_NumberOfAssistedLivingUnits_lbl1">Number of assisted living units</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="NumberOfAssistedLivingUnits" xlink:to="iret_NumberOfAssistedLivingUnits_lbl1" xlink:title="label: NumberOfAssistedLivingUnits to iret_NumberOfAssistedLivingUnits_lbl1" />
    <link:loc xlink:type="locator" xlink:href="iret-20130131.xsd#iret_NumberOfMemoryCareUnits" xlink:label="NumberOfMemoryCareUnits" xlink:title="NumberOfMemoryCareUnits" />
    <link:label xlink:type="resource" xlink:label="iret_NumberOfMemoryCareUnits_lbl" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:title="iret_NumberOfMemoryCareUnits_lbl" xml:lang="en-US" id="iret_NumberOfMemoryCareUnits_lbl">Number of memory care units.</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="NumberOfMemoryCareUnits" xlink:to="iret_NumberOfMemoryCareUnits_lbl" xlink:title="label: NumberOfMemoryCareUnits to iret_NumberOfMemoryCareUnits_lbl" />
    <link:label xlink:type="resource" xlink:label="iret_NumberOfMemoryCareUnits_lbl1" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="iret_NumberOfMemoryCareUnits_lbl1" xml:lang="en-US" id="iret_NumberOfMemoryCareUnits_lbl1">Number of memory care units</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="NumberOfMemoryCareUnits" xlink:to="iret_NumberOfMemoryCareUnits_lbl1" xlink:title="label: NumberOfMemoryCareUnits to iret_NumberOfMemoryCareUnits_lbl1" />
    <link:loc xlink:type="locator" xlink:href="iret-20130131.xsd#iret_NumberOfAssistedLivingUnitsToBeConvertedToMemoryCareUnits" xlink:label="NumberOfAssistedLivingUnitsToBeConvertedToMemoryCareUnits" xlink:title="NumberOfAssistedLivingUnitsToBeConvertedToMemoryCareUnits" />
    <link:label xlink:type="resource" xlink:label="iret_NumberOfAssistedLivingUnitsToBeConvertedToMemoryCareUnits_lbl" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:title="iret_NumberOfAssistedLivingUnitsToBeConvertedToMemoryCareUnits_lbl" xml:lang="en-US" id="iret_NumberOfAssistedLivingUnitsToBeConvertedToMemoryCareUnits_lbl">The number of assisted living units to be converted to memory care units.</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="NumberOfAssistedLivingUnitsToBeConvertedToMemoryCareUnits" xlink:to="iret_NumberOfAssistedLivingUnitsToBeConvertedToMemoryCareUnits_lbl" xlink:title="label: NumberOfAssistedLivingUnitsToBeConvertedToMemoryCareUnits to iret_NumberOfAssistedLivingUnitsToBeConvertedToMemoryCareUnits_lbl" />
    <link:label xlink:type="resource" xlink:label="iret_NumberOfAssistedLivingUnitsToBeConvertedToMemoryCareUnits_lbl1" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="iret_NumberOfAssistedLivingUnitsToBeConvertedToMemoryCareUnits_lbl1" xml:lang="en-US" id="iret_NumberOfAssistedLivingUnitsToBeConvertedToMemoryCareUnits_lbl1">Number of assisted living units to be converted to memory care units</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="NumberOfAssistedLivingUnitsToBeConvertedToMemoryCareUnits" xlink:to="iret_NumberOfAssistedLivingUnitsToBeConvertedToMemoryCareUnits_lbl1" xlink:title="label: NumberOfAssistedLivingUnitsToBeConvertedToMemoryCareUnits to iret_NumberOfAssistedLivingUnitsToBeConvertedToMemoryCareUnits_lbl1" />
    <link:loc xlink:type="locator" xlink:href="iret-20130131.xsd#iret_NumberOfAdditionalAssistedLivingUnits" xlink:label="NumberOfAdditionalAssistedLivingUnits" xlink:title="NumberOfAdditionalAssistedLivingUnits" />
    <link:label xlink:type="resource" xlink:label="iret_NumberOfAdditionalAssistedLivingUnits_lbl" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:title="iret_NumberOfAdditionalAssistedLivingUnits_lbl" xml:lang="en-US" id="iret_NumberOfAdditionalAssistedLivingUnits_lbl">Number of additional assisted living units.</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="NumberOfAdditionalAssistedLivingUnits" xlink:to="iret_NumberOfAdditionalAssistedLivingUnits_lbl" xlink:title="label: NumberOfAdditionalAssistedLivingUnits to iret_NumberOfAdditionalAssistedLivingUnits_lbl" />
    <link:label xlink:type="resource" xlink:label="iret_NumberOfAdditionalAssistedLivingUnits_lbl1" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="iret_NumberOfAdditionalAssistedLivingUnits_lbl1" xml:lang="en-US" id="iret_NumberOfAdditionalAssistedLivingUnits_lbl1">Number of additional assisted living units</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="NumberOfAdditionalAssistedLivingUnits" xlink:to="iret_NumberOfAdditionalAssistedLivingUnits_lbl1" xlink:title="label: NumberOfAdditionalAssistedLivingUnits to iret_NumberOfAdditionalAssistedLivingUnits_lbl1" />
    <link:loc xlink:type="locator" xlink:href="iret-20130131.xsd#iret_AgreementPeriod" xlink:label="AgreementPeriod" xlink:title="AgreementPeriod" />
    <link:label xlink:type="resource" xlink:label="iret_AgreementPeriod_lbl" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:title="iret_AgreementPeriod_lbl" xml:lang="en-US" id="iret_AgreementPeriod_lbl">Agreement period for fully net lease with a provider of production enhancement services to the oil and gas industry.</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="AgreementPeriod" xlink:to="iret_AgreementPeriod_lbl" xlink:title="label: AgreementPeriod to iret_AgreementPeriod_lbl" />
    <link:label xlink:type="resource" xlink:label="iret_AgreementPeriod_lbl1" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="iret_AgreementPeriod_lbl1" xml:lang="en-US" id="iret_AgreementPeriod_lbl1">Agreement period</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="AgreementPeriod" xlink:to="iret_AgreementPeriod_lbl1" xlink:title="label: AgreementPeriod to iret_AgreementPeriod_lbl1" />
    <link:loc xlink:type="locator" xlink:href="iret-20130131.xsd#iret_ProjectCompletionPeriod" xlink:label="ProjectCompletionPeriod" xlink:title="ProjectCompletionPeriod" />
    <link:label xlink:type="resource" xlink:label="iret_ProjectCompletionPeriod_lbl" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:title="iret_ProjectCompletionPeriod_lbl" xml:lang="en-US" id="iret_ProjectCompletionPeriod_lbl">Project completion period.</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ProjectCompletionPeriod" xlink:to="iret_ProjectCompletionPeriod_lbl" xlink:title="label: ProjectCompletionPeriod to iret_ProjectCompletionPeriod_lbl" />
    <link:label xlink:type="resource" xlink:label="iret_ProjectCompletionPeriod_lbl1" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="iret_ProjectCompletionPeriod_lbl1" xml:lang="en-US" id="iret_ProjectCompletionPeriod_lbl1">Project completion period</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ProjectCompletionPeriod" xlink:to="iret_ProjectCompletionPeriod_lbl1" xlink:title="label: ProjectCompletionPeriod to iret_ProjectCompletionPeriod_lbl1" />
    <link:loc xlink:type="locator" xlink:href="iret-20130131.xsd#iret_EquityMethodInvestmentOwnershipPercentageHeldByJointVenturePartner" xlink:label="EquityMethodInvestmentOwnershipPercentageHeldByJointVenturePartner" xlink:title="EquityMethodInvestmentOwnershipPercentageHeldByJointVenturePartner" />
    <link:label xlink:type="resource" xlink:label="iret_EquityMethodInvestmentOwnershipPercentageHeldByJointVenturePartner_lbl" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:title="iret_EquityMethodInvestmentOwnershipPercentageHeldByJointVenturePartner_lbl" xml:lang="en-US" id="iret_EquityMethodInvestmentOwnershipPercentageHeldByJointVenturePartner_lbl">The percentage of ownership of common stock or equity participation in the investee held by the joint venture partner.</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="EquityMethodInvestmentOwnershipPercentageHeldByJointVenturePartner" xlink:to="iret_EquityMethodInvestmentOwnershipPercentageHeldByJointVenturePartner_lbl" xlink:title="label: EquityMethodInvestmentOwnershipPercentageHeldByJointVenturePartner to iret_EquityMethodInvestmentOwnershipPercentageHeldByJointVenturePartner_lbl" />
    <link:label xlink:type="resource" xlink:label="iret_EquityMethodInvestmentOwnershipPercentageHeldByJointVenturePartner_lbl1" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="iret_EquityMethodInvestmentOwnershipPercentageHeldByJointVenturePartner_lbl1" xml:lang="en-US" id="iret_EquityMethodInvestmentOwnershipPercentageHeldByJointVenturePartner_lbl1">Equity Method Investment, Ownership Percentage Held by Joint Venture Partner</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="EquityMethodInvestmentOwnershipPercentageHeldByJointVenturePartner" xlink:to="iret_EquityMethodInvestmentOwnershipPercentageHeldByJointVenturePartner_lbl1" xlink:title="label: EquityMethodInvestmentOwnershipPercentageHeldByJointVenturePartner to iret_EquityMethodInvestmentOwnershipPercentageHeldByJointVenturePartner_lbl1" />
    <link:label xlink:type="resource" xlink:label="iret_EquityMethodInvestmentOwnershipPercentageHeldByJointVenturePartner_lbl2" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:title="iret_EquityMethodInvestmentOwnershipPercentageHeldByJointVenturePartner_lbl2" xml:lang="en-US" id="iret_EquityMethodInvestmentOwnershipPercentageHeldByJointVenturePartner_lbl2">Interest in joint venture held by joint venture partner (in hundredths)</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="EquityMethodInvestmentOwnershipPercentageHeldByJointVenturePartner" xlink:to="iret_EquityMethodInvestmentOwnershipPercentageHeldByJointVenturePartner_lbl2" xlink:title="label: EquityMethodInvestmentOwnershipPercentageHeldByJointVenturePartner to iret_EquityMethodInvestmentOwnershipPercentageHeldByJointVenturePartner_lbl2" />
    <link:loc xlink:type="locator" xlink:href="iret-20130131.xsd#iret_CashContributionToProject" xlink:label="CashContributionToProject" xlink:title="CashContributionToProject" />
    <link:label xlink:type="resource" xlink:label="iret_CashContributionToProject_lbl" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:title="iret_CashContributionToProject_lbl" xml:lang="en-US" id="iret_CashContributionToProject_lbl">Cash contribution to project.</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="CashContributionToProject" xlink:to="iret_CashContributionToProject_lbl" xlink:title="label: CashContributionToProject to iret_CashContributionToProject_lbl" />
    <link:label xlink:type="resource" xlink:label="iret_CashContributionToProject_lbl1" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="iret_CashContributionToProject_lbl1" xml:lang="en-US" id="iret_CashContributionToProject_lbl1">Cash contribution to project</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="CashContributionToProject" xlink:to="iret_CashContributionToProject_lbl1" xlink:title="label: CashContributionToProject to iret_CashContributionToProject_lbl1" />
    <link:loc xlink:type="locator" xlink:href="iret-20130131.xsd#iret_JointVenturePartnerContribution" xlink:label="JointVenturePartnerContribution" xlink:title="JointVenturePartnerContribution" />
    <link:label xlink:type="resource" xlink:label="iret_JointVenturePartnerContribution_lbl" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:title="iret_JointVenturePartnerContribution_lbl" xml:lang="en-US" id="iret_JointVenturePartnerContribution_lbl">Joint venture partner contribution.</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="JointVenturePartnerContribution" xlink:to="iret_JointVenturePartnerContribution_lbl" xlink:title="label: JointVenturePartnerContribution to iret_JointVenturePartnerContribution_lbl" />
    <link:label xlink:type="resource" xlink:label="iret_JointVenturePartnerContribution_lbl1" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="iret_JointVenturePartnerContribution_lbl1" xml:lang="en-US" id="iret_JointVenturePartnerContribution_lbl1">Joint venture partner contribution</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="JointVenturePartnerContribution" xlink:to="iret_JointVenturePartnerContribution_lbl1" xlink:title="label: JointVenturePartnerContribution to iret_JointVenturePartnerContribution_lbl1" />
    <link:loc xlink:type="locator" xlink:href="iret-20130131.xsd#iret_NumberOfStoreyBuilding" xlink:label="NumberOfStoreyBuilding" xlink:title="NumberOfStoreyBuilding" />
    <link:label xlink:type="resource" xlink:label="iret_NumberOfStoreyBuilding_lbl" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:title="iret_NumberOfStoreyBuilding_lbl" xml:lang="en-US" id="iret_NumberOfStoreyBuilding_lbl">Number of storey building to be constructed under a joint venture.</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="NumberOfStoreyBuilding" xlink:to="iret_NumberOfStoreyBuilding_lbl" xlink:title="label: NumberOfStoreyBuilding to iret_NumberOfStoreyBuilding_lbl" />
    <link:label xlink:type="resource" xlink:label="iret_NumberOfStoreyBuilding_lbl1" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="iret_NumberOfStoreyBuilding_lbl1" xml:lang="en-US" id="iret_NumberOfStoreyBuilding_lbl1">Number of storey building</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="NumberOfStoreyBuilding" xlink:to="iret_NumberOfStoreyBuilding_lbl1" xlink:title="label: NumberOfStoreyBuilding to iret_NumberOfStoreyBuilding_lbl1" />
    <link:loc xlink:type="locator" xlink:href="iret-20130131.xsd#iret_LeaseTermOfProperty" xlink:label="LeaseTermOfProperty" xlink:title="LeaseTermOfProperty" />
    <link:label xlink:type="resource" xlink:label="iret_LeaseTermOfProperty_lbl" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:title="iret_LeaseTermOfProperty_lbl" xml:lang="en-US" id="iret_LeaseTermOfProperty_lbl">The lease term of property under an existing joint venture.</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="LeaseTermOfProperty" xlink:to="iret_LeaseTermOfProperty_lbl" xlink:title="label: LeaseTermOfProperty to iret_LeaseTermOfProperty_lbl" />
    <link:label xlink:type="resource" xlink:label="iret_LeaseTermOfProperty_lbl1" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="iret_LeaseTermOfProperty_lbl1" xml:lang="en-US" id="iret_LeaseTermOfProperty_lbl1">Lease term of property</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="LeaseTermOfProperty" xlink:to="iret_LeaseTermOfProperty_lbl1" xlink:title="label: LeaseTermOfProperty to iret_LeaseTermOfProperty_lbl1" />
    <link:loc xlink:type="locator" xlink:href="iret-20130131.xsd#iret_NumberOfRenewalOfLease" xlink:label="NumberOfRenewalOfLease" xlink:title="NumberOfRenewalOfLease" />
    <link:label xlink:type="resource" xlink:label="iret_NumberOfRenewalOfLease_lbl" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:title="iret_NumberOfRenewalOfLease_lbl" xml:lang="en-US" id="iret_NumberOfRenewalOfLease_lbl">The number of renewal of lease of property under an existing joint venture.</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="NumberOfRenewalOfLease" xlink:to="iret_NumberOfRenewalOfLease_lbl" xlink:title="label: NumberOfRenewalOfLease to iret_NumberOfRenewalOfLease_lbl" />
    <link:label xlink:type="resource" xlink:label="iret_NumberOfRenewalOfLease_lbl1" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="iret_NumberOfRenewalOfLease_lbl1" xml:lang="en-US" id="iret_NumberOfRenewalOfLease_lbl1">Number of renewal of lease</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="NumberOfRenewalOfLease" xlink:to="iret_NumberOfRenewalOfLease_lbl1" xlink:title="label: NumberOfRenewalOfLease to iret_NumberOfRenewalOfLease_lbl1" />
    <link:loc xlink:type="locator" xlink:href="iret-20130131.xsd#iret_RenewalOfLease" xlink:label="RenewalOfLease" xlink:title="RenewalOfLease" />
    <link:label xlink:type="resource" xlink:label="iret_RenewalOfLease_lbl" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:title="iret_RenewalOfLease_lbl" xml:lang="en-US" id="iret_RenewalOfLease_lbl">The renewal of lease term of property under an existing joint venture.</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="RenewalOfLease" xlink:to="iret_RenewalOfLease_lbl" xlink:title="label: RenewalOfLease to iret_RenewalOfLease_lbl" />
    <link:label xlink:type="resource" xlink:label="iret_RenewalOfLease_lbl1" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="iret_RenewalOfLease_lbl1" xml:lang="en-US" id="iret_RenewalOfLease_lbl1">Renewal of lease</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="RenewalOfLease" xlink:to="iret_RenewalOfLease_lbl1" xlink:title="label: RenewalOfLease to iret_RenewalOfLease_lbl1" />
    <link:label xlink:type="resource" xlink:label="iret_RenewalOfLease_lbl2" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:title="iret_RenewalOfLease_lbl2" xml:lang="en-US" id="iret_RenewalOfLease_lbl2">Renewal of lease</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="RenewalOfLease" xlink:to="iret_RenewalOfLease_lbl2" xlink:title="label: RenewalOfLease to iret_RenewalOfLease_lbl2" />
    <link:loc xlink:type="locator" xlink:href="iret-20130131.xsd#iret_StCloudMnMember" xlink:label="StCloudMnMember" xlink:title="StCloudMnMember" />
    <link:label xlink:type="resource" xlink:label="iret_StCloudMnMember_lbl" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:title="iret_StCloudMnMember_lbl" xml:lang="en-US" id="iret_StCloudMnMember_lbl">St. Cloud, MN property acquired.</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="StCloudMnMember" xlink:to="iret_StCloudMnMember_lbl" xlink:title="label: StCloudMnMember to iret_StCloudMnMember_lbl" />
    <link:label xlink:type="resource" xlink:label="iret_StCloudMnMember_lbl1" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="iret_StCloudMnMember_lbl1" xml:lang="en-US" id="iret_StCloudMnMember_lbl1">St. Cloud, MN [Member]</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="StCloudMnMember" xlink:to="iret_StCloudMnMember_lbl1" xlink:title="label: StCloudMnMember to iret_StCloudMnMember_lbl1" />
    <link:loc xlink:type="locator" xlink:href="iret-20130131.xsd#iret_SartellMinnesotaMember" xlink:label="SartellMinnesotaMember" xlink:title="SartellMinnesotaMember" />
    <link:label xlink:type="resource" xlink:label="iret_SartellMinnesotaMember_lbl" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:title="iret_SartellMinnesotaMember_lbl" xml:lang="en-US" id="iret_SartellMinnesotaMember_lbl">Sartell, Minnesota property acquired.</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="SartellMinnesotaMember" xlink:to="iret_SartellMinnesotaMember_lbl" xlink:title="label: SartellMinnesotaMember to iret_SartellMinnesotaMember_lbl" />
    <link:label xlink:type="resource" xlink:label="iret_SartellMinnesotaMember_lbl1" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="iret_SartellMinnesotaMember_lbl1" xml:lang="en-US" id="iret_SartellMinnesotaMember_lbl1">Sartell, Minnesota [Member]</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="SartellMinnesotaMember" xlink:to="iret_SartellMinnesotaMember_lbl1" xlink:title="label: SartellMinnesotaMember to iret_SartellMinnesotaMember_lbl1" />
    <link:loc xlink:type="locator" xlink:href="iret-20130131.xsd#iret_BillingsMontanaMember" xlink:label="BillingsMontanaMember" xlink:title="BillingsMontanaMember" />
    <link:label xlink:type="resource" xlink:label="iret_BillingsMontanaMember_lbl" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:title="iret_BillingsMontanaMember_lbl" xml:lang="en-US" id="iret_BillingsMontanaMember_lbl">Billings, Montana property acquired.</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="BillingsMontanaMember" xlink:to="iret_BillingsMontanaMember_lbl" xlink:title="label: BillingsMontanaMember to iret_BillingsMontanaMember_lbl" />
    <link:label xlink:type="resource" xlink:label="iret_BillingsMontanaMember_lbl1" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="iret_BillingsMontanaMember_lbl1" xml:lang="en-US" id="iret_BillingsMontanaMember_lbl1">Billings, Montana [Member]</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="BillingsMontanaMember" xlink:to="iret_BillingsMontanaMember_lbl1" xlink:title="label: BillingsMontanaMember to iret_BillingsMontanaMember_lbl1" />
    <link:loc xlink:type="locator" xlink:href="iret-20130131.xsd#iret_RiverRidgeApartmentsMember" xlink:label="RiverRidgeApartmentsMember" xlink:title="RiverRidgeApartmentsMember" />
    <link:label xlink:type="resource" xlink:label="iret_RiverRidgeApartmentsMember_lbl" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:title="iret_RiverRidgeApartmentsMember_lbl" xml:lang="en-US" id="iret_RiverRidgeApartmentsMember_lbl">River Ridge Apartments project in Bismarck, North Dakota.</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="RiverRidgeApartmentsMember" xlink:to="iret_RiverRidgeApartmentsMember_lbl" xlink:title="label: RiverRidgeApartmentsMember to iret_RiverRidgeApartmentsMember_lbl" />
    <link:label xlink:type="resource" xlink:label="iret_RiverRidgeApartmentsMember_lbl1" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="iret_RiverRidgeApartmentsMember_lbl1" xml:lang="en-US" id="iret_RiverRidgeApartmentsMember_lbl1">River Ridge Apartments [Member]</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="RiverRidgeApartmentsMember" xlink:to="iret_RiverRidgeApartmentsMember_lbl1" xlink:title="label: RiverRidgeApartmentsMember to iret_RiverRidgeApartmentsMember_lbl1" />
    <link:loc xlink:type="locator" xlink:href="iret-20130131.xsd#iret_PrairiewoodMeadowsApartmentsMember" xlink:label="PrairiewoodMeadowsApartmentsMember" xlink:title="PrairiewoodMeadowsApartmentsMember" />
    <link:label xlink:type="resource" xlink:label="iret_PrairiewoodMeadowsApartmentsMember_lbl" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:title="iret_PrairiewoodMeadowsApartmentsMember_lbl" xml:lang="en-US" id="iret_PrairiewoodMeadowsApartmentsMember_lbl">Prairiewood Meadows Apartments property in Fargo, North Dakota.</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="PrairiewoodMeadowsApartmentsMember" xlink:to="iret_PrairiewoodMeadowsApartmentsMember_lbl" xlink:title="label: PrairiewoodMeadowsApartmentsMember to iret_PrairiewoodMeadowsApartmentsMember_lbl" />
    <link:label xlink:type="resource" xlink:label="iret_PrairiewoodMeadowsApartmentsMember_lbl1" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="iret_PrairiewoodMeadowsApartmentsMember_lbl1" xml:lang="en-US" id="iret_PrairiewoodMeadowsApartmentsMember_lbl1">Prairiewood Meadows Apartments [Member]</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="PrairiewoodMeadowsApartmentsMember" xlink:to="iret_PrairiewoodMeadowsApartmentsMember_lbl1" xlink:title="label: PrairiewoodMeadowsApartmentsMember to iret_PrairiewoodMeadowsApartmentsMember_lbl1" />
    <link:loc xlink:type="locator" xlink:href="iret-20130131.xsd#iret_TerraceOnGreenApartmentsMember" xlink:label="TerraceOnGreenApartmentsMember" xlink:title="TerraceOnGreenApartmentsMember" />
    <link:label xlink:type="resource" xlink:label="iret_TerraceOnGreenApartmentsMember_lbl" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:title="iret_TerraceOnGreenApartmentsMember_lbl" xml:lang="en-US" id="iret_TerraceOnGreenApartmentsMember_lbl">Terrace on the Green Apartments property in Moorehead, Minnesota.</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="TerraceOnGreenApartmentsMember" xlink:to="iret_TerraceOnGreenApartmentsMember_lbl" xlink:title="label: TerraceOnGreenApartmentsMember to iret_TerraceOnGreenApartmentsMember_lbl" />
    <link:label xlink:type="resource" xlink:label="iret_TerraceOnGreenApartmentsMember_lbl1" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="iret_TerraceOnGreenApartmentsMember_lbl1" xml:lang="en-US" id="iret_TerraceOnGreenApartmentsMember_lbl1">Terrace on the Green Apartments [Member]</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="TerraceOnGreenApartmentsMember" xlink:to="iret_TerraceOnGreenApartmentsMember_lbl1" xlink:title="label: TerraceOnGreenApartmentsMember to iret_TerraceOnGreenApartmentsMember_lbl1" />
    <link:loc xlink:type="locator" xlink:href="iret-20130131.xsd#iret_CandlelightApartmentsMember" xlink:label="CandlelightApartmentsMember" xlink:title="CandlelightApartmentsMember" />
    <link:label xlink:type="resource" xlink:label="iret_CandlelightApartmentsMember_lbl" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:title="iret_CandlelightApartmentsMember_lbl" xml:lang="en-US" id="iret_CandlelightApartmentsMember_lbl">Candlelight Apartments property in Fargo, North Dakota.</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="CandlelightApartmentsMember" xlink:to="iret_CandlelightApartmentsMember_lbl" xlink:title="label: CandlelightApartmentsMember to iret_CandlelightApartmentsMember_lbl" />
    <link:label xlink:type="resource" xlink:label="iret_CandlelightApartmentsMember_lbl1" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="iret_CandlelightApartmentsMember_lbl1" xml:lang="en-US" id="iret_CandlelightApartmentsMember_lbl1">Candlelight Apartments [Member]</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="CandlelightApartmentsMember" xlink:to="iret_CandlelightApartmentsMember_lbl1" xlink:title="label: CandlelightApartmentsMember to iret_CandlelightApartmentsMember_lbl1" />
    <link:loc xlink:type="locator" xlink:href="iret-20130131.xsd#iret_Multi-FamilyResidentialPropertyInTopekaKansasMember" xlink:label="Multi-FamilyResidentialPropertyInTopekaKansasMember" xlink:title="Multi-FamilyResidentialPropertyInTopekaKansasMember" />
    <link:label xlink:type="resource" xlink:label="iret_Multi-FamilyResidentialPropertyInTopekaKansasMember_lbl" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:title="iret_Multi-FamilyResidentialPropertyInTopekaKansasMember_lbl" xml:lang="en-US" id="iret_Multi-FamilyResidentialPropertyInTopekaKansasMember_lbl">Multi-family residential property in Topeka, Kansas acquired or disposed.</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="Multi-FamilyResidentialPropertyInTopekaKansasMember" xlink:to="iret_Multi-FamilyResidentialPropertyInTopekaKansasMember_lbl" xlink:title="label: Multi-FamilyResidentialPropertyInTopekaKansasMember to iret_Multi-FamilyResidentialPropertyInTopekaKansasMember_lbl" />
    <link:label xlink:type="resource" xlink:label="iret_Multi-FamilyResidentialPropertyInTopekaKansasMember_lbl1" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="iret_Multi-FamilyResidentialPropertyInTopekaKansasMember_lbl1" xml:lang="en-US" id="iret_Multi-FamilyResidentialPropertyInTopekaKansasMember_lbl1">Multi-family residential property in Topeka, Kansas [Member]</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="Multi-FamilyResidentialPropertyInTopekaKansasMember" xlink:to="iret_Multi-FamilyResidentialPropertyInTopekaKansasMember_lbl1" xlink:title="label: Multi-FamilyResidentialPropertyInTopekaKansasMember to iret_Multi-FamilyResidentialPropertyInTopekaKansasMember_lbl1" />
    <link:loc xlink:type="locator" xlink:href="iret-20130131.xsd#iret_Multi-FamilyResidentialPropertyInOmahaNebraskaMember" xlink:label="Multi-FamilyResidentialPropertyInOmahaNebraskaMember" xlink:title="Multi-FamilyResidentialPropertyInOmahaNebraskaMember" />
    <link:label xlink:type="resource" xlink:label="iret_Multi-FamilyResidentialPropertyInOmahaNebraskaMember_lbl" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:title="iret_Multi-FamilyResidentialPropertyInOmahaNebraskaMember_lbl" xml:lang="en-US" id="iret_Multi-FamilyResidentialPropertyInOmahaNebraskaMember_lbl">Multi-family residential property in Omaha, Nebraska acquired or disposed.</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="Multi-FamilyResidentialPropertyInOmahaNebraskaMember" xlink:to="iret_Multi-FamilyResidentialPropertyInOmahaNebraskaMember_lbl" xlink:title="label: Multi-FamilyResidentialPropertyInOmahaNebraskaMember to iret_Multi-FamilyResidentialPropertyInOmahaNebraskaMember_lbl" />
    <link:label xlink:type="resource" xlink:label="iret_Multi-FamilyResidentialPropertyInOmahaNebraskaMember_lbl1" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="iret_Multi-FamilyResidentialPropertyInOmahaNebraskaMember_lbl1" xml:lang="en-US" id="iret_Multi-FamilyResidentialPropertyInOmahaNebraskaMember_lbl1">Multi-family residential property in Omaha, Nebraska [Member]</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="Multi-FamilyResidentialPropertyInOmahaNebraskaMember" xlink:to="iret_Multi-FamilyResidentialPropertyInOmahaNebraskaMember_lbl1" xlink:title="label: Multi-FamilyResidentialPropertyInOmahaNebraskaMember to iret_Multi-FamilyResidentialPropertyInOmahaNebraskaMember_lbl1" />
    <link:loc xlink:type="locator" xlink:href="iret-20130131.xsd#iret_AdjoiningParcelsOfVacantLandInRochesterMinnesotaMember" xlink:label="AdjoiningParcelsOfVacantLandInRochesterMinnesotaMember" xlink:title="AdjoiningParcelsOfVacantLandInRochesterMinnesotaMember" />
    <link:label xlink:type="resource" xlink:label="iret_AdjoiningParcelsOfVacantLandInRochesterMinnesotaMember_lbl" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:title="iret_AdjoiningParcelsOfVacantLandInRochesterMinnesotaMember_lbl" xml:lang="en-US" id="iret_AdjoiningParcelsOfVacantLandInRochesterMinnesotaMember_lbl">Adjoining parcels of vacant land in Rochester, Minnesota acquired or disposed.</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="AdjoiningParcelsOfVacantLandInRochesterMinnesotaMember" xlink:to="iret_AdjoiningParcelsOfVacantLandInRochesterMinnesotaMember_lbl" xlink:title="label: AdjoiningParcelsOfVacantLandInRochesterMinnesotaMember to iret_AdjoiningParcelsOfVacantLandInRochesterMinnesotaMember_lbl" />
    <link:label xlink:type="resource" xlink:label="iret_AdjoiningParcelsOfVacantLandInRochesterMinnesotaMember_lbl1" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="iret_AdjoiningParcelsOfVacantLandInRochesterMinnesotaMember_lbl1" xml:lang="en-US" id="iret_AdjoiningParcelsOfVacantLandInRochesterMinnesotaMember_lbl1">Adjoining parcels of vacant land in Rochester, Minnesota [Member]</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="AdjoiningParcelsOfVacantLandInRochesterMinnesotaMember" xlink:to="iret_AdjoiningParcelsOfVacantLandInRochesterMinnesotaMember_lbl1" xlink:title="label: AdjoiningParcelsOfVacantLandInRochesterMinnesotaMember to iret_AdjoiningParcelsOfVacantLandInRochesterMinnesotaMember_lbl1" />
    <link:loc xlink:type="locator" xlink:href="iret-20130131.xsd#iret_VacantLandInGrandForksNorthDakotaMember" xlink:label="VacantLandInGrandForksNorthDakotaMember" xlink:title="VacantLandInGrandForksNorthDakotaMember" />
    <link:label xlink:type="resource" xlink:label="iret_VacantLandInGrandForksNorthDakotaMember_lbl" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:title="iret_VacantLandInGrandForksNorthDakotaMember_lbl" xml:lang="en-US" id="iret_VacantLandInGrandForksNorthDakotaMember_lbl">Vacant land in Grand Forks, North Dakota acquired or disposed.</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="VacantLandInGrandForksNorthDakotaMember" xlink:to="iret_VacantLandInGrandForksNorthDakotaMember_lbl" xlink:title="label: VacantLandInGrandForksNorthDakotaMember to iret_VacantLandInGrandForksNorthDakotaMember_lbl" />
    <link:label xlink:type="resource" xlink:label="iret_VacantLandInGrandForksNorthDakotaMember_lbl1" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="iret_VacantLandInGrandForksNorthDakotaMember_lbl1" xml:lang="en-US" id="iret_VacantLandInGrandForksNorthDakotaMember_lbl1">Vacant land in Grand Forks, North Dakota [Member]</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="VacantLandInGrandForksNorthDakotaMember" xlink:to="iret_VacantLandInGrandForksNorthDakotaMember_lbl1" xlink:title="label: VacantLandInGrandForksNorthDakotaMember to iret_VacantLandInGrandForksNorthDakotaMember_lbl1" />
    <link:loc xlink:type="locator" xlink:href="iret-20130131.xsd#iret_VacantLandInRapidCitySouthDakotaMember" xlink:label="VacantLandInRapidCitySouthDakotaMember" xlink:title="VacantLandInRapidCitySouthDakotaMember" />
    <link:label xlink:type="resource" xlink:label="iret_VacantLandInRapidCitySouthDakotaMember_lbl" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:title="iret_VacantLandInRapidCitySouthDakotaMember_lbl" xml:lang="en-US" id="iret_VacantLandInRapidCitySouthDakotaMember_lbl">Vacant land in Rapid City, South Dakota acquired or disposed.</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="VacantLandInRapidCitySouthDakotaMember" xlink:to="iret_VacantLandInRapidCitySouthDakotaMember_lbl" xlink:title="label: VacantLandInRapidCitySouthDakotaMember to iret_VacantLandInRapidCitySouthDakotaMember_lbl" />
    <link:label xlink:type="resource" xlink:label="iret_VacantLandInRapidCitySouthDakotaMember_lbl1" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="iret_VacantLandInRapidCitySouthDakotaMember_lbl1" xml:lang="en-US" id="iret_VacantLandInRapidCitySouthDakotaMember_lbl1">Vacant land in Rapid City, South Dakota [Member]</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="VacantLandInRapidCitySouthDakotaMember" xlink:to="iret_VacantLandInRapidCitySouthDakotaMember_lbl1" xlink:title="label: VacantLandInRapidCitySouthDakotaMember to iret_VacantLandInRapidCitySouthDakotaMember_lbl1" />
    <link:loc xlink:type="locator" xlink:href="iret-20130131.xsd#iret_StockIssuedDuringPeriodValueNewIssuesPerHare" xlink:label="StockIssuedDuringPeriodValueNewIssuesPerHare" xlink:title="StockIssuedDuringPeriodValueNewIssuesPerHare" />
    <link:label xlink:type="resource" xlink:label="iret_StockIssuedDuringPeriodValueNewIssuesPerHare_lbl" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:title="iret_StockIssuedDuringPeriodValueNewIssuesPerHare_lbl" xml:lang="en-US" id="iret_StockIssuedDuringPeriodValueNewIssuesPerHare_lbl">Equity impact of the value per share of new stock issued during the period. Includes shares issued in an initial public offering or a secondary public offering.</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="StockIssuedDuringPeriodValueNewIssuesPerHare" xlink:to="iret_StockIssuedDuringPeriodValueNewIssuesPerHare_lbl" xlink:title="label: StockIssuedDuringPeriodValueNewIssuesPerHare to iret_StockIssuedDuringPeriodValueNewIssuesPerHare_lbl" />
    <link:label xlink:type="resource" xlink:label="iret_StockIssuedDuringPeriodValueNewIssuesPerHare_lbl1" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="iret_StockIssuedDuringPeriodValueNewIssuesPerHare_lbl1" xml:lang="en-US" id="iret_StockIssuedDuringPeriodValueNewIssuesPerHare_lbl1">Stock Issued During Period, Value, New Issues, Per hare</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="StockIssuedDuringPeriodValueNewIssuesPerHare" xlink:to="iret_StockIssuedDuringPeriodValueNewIssuesPerHare_lbl1" xlink:title="label: StockIssuedDuringPeriodValueNewIssuesPerHare to iret_StockIssuedDuringPeriodValueNewIssuesPerHare_lbl1" />
    <link:label xlink:type="resource" xlink:label="iret_StockIssuedDuringPeriodValueNewIssuesPerHare_lbl2" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:title="iret_StockIssuedDuringPeriodValueNewIssuesPerHare_lbl2" xml:lang="en-US" id="iret_StockIssuedDuringPeriodValueNewIssuesPerHare_lbl2">Shares issued (in dollars per share)</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="StockIssuedDuringPeriodValueNewIssuesPerHare" xlink:to="iret_StockIssuedDuringPeriodValueNewIssuesPerHare_lbl2" xlink:title="label: StockIssuedDuringPeriodValueNewIssuesPerHare to iret_StockIssuedDuringPeriodValueNewIssuesPerHare_lbl2" />
    <link:loc xlink:type="locator" xlink:href="iret-20130131.xsd#iret_RedeemablePreferredStockDollarsPerShare" xlink:label="RedeemablePreferredStockDollarsPerShare" xlink:title="RedeemablePreferredStockDollarsPerShare" />
    <link:label xlink:type="resource" xlink:label="iret_RedeemablePreferredStockDollarsPerShare_lbl" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:title="iret_RedeemablePreferredStockDollarsPerShare_lbl" xml:lang="en-US" id="iret_RedeemablePreferredStockDollarsPerShare_lbl">The redemption value per share of preferred stock.</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="RedeemablePreferredStockDollarsPerShare" xlink:to="iret_RedeemablePreferredStockDollarsPerShare_lbl" xlink:title="label: RedeemablePreferredStockDollarsPerShare to iret_RedeemablePreferredStockDollarsPerShare_lbl" />
    <link:label xlink:type="resource" xlink:label="iret_RedeemablePreferredStockDollarsPerShare_lbl1" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="iret_RedeemablePreferredStockDollarsPerShare_lbl1" xml:lang="en-US" id="iret_RedeemablePreferredStockDollarsPerShare_lbl1">Redeemable Preferred Stock, Dollars per Share</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="RedeemablePreferredStockDollarsPerShare" xlink:to="iret_RedeemablePreferredStockDollarsPerShare_lbl1" xlink:title="label: RedeemablePreferredStockDollarsPerShare to iret_RedeemablePreferredStockDollarsPerShare_lbl1" />
    <link:label xlink:type="resource" xlink:label="iret_RedeemablePreferredStockDollarsPerShare_lbl2" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:title="iret_RedeemablePreferredStockDollarsPerShare_lbl2" xml:lang="en-US" id="iret_RedeemablePreferredStockDollarsPerShare_lbl2">Redemption value of preferred stock (in dollars per share)</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="RedeemablePreferredStockDollarsPerShare" xlink:to="iret_RedeemablePreferredStockDollarsPerShare_lbl2" xlink:title="label: RedeemablePreferredStockDollarsPerShare to iret_RedeemablePreferredStockDollarsPerShare_lbl2" />
    <link:loc xlink:type="locator" xlink:href="iret-20130131.xsd#iret_PreferredStockDividendsAnnualRatePerShare" xlink:label="PreferredStockDividendsAnnualRatePerShare" xlink:title="PreferredStockDividendsAnnualRatePerShare" />
    <link:label xlink:type="resource" xlink:label="iret_PreferredStockDividendsAnnualRatePerShare_lbl" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:title="iret_PreferredStockDividendsAnnualRatePerShare_lbl" xml:lang="en-US" id="iret_PreferredStockDividendsAnnualRatePerShare_lbl">The annual rate of dividends paid to preferred stock holders.</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="PreferredStockDividendsAnnualRatePerShare" xlink:to="iret_PreferredStockDividendsAnnualRatePerShare_lbl" xlink:title="label: PreferredStockDividendsAnnualRatePerShare to iret_PreferredStockDividendsAnnualRatePerShare_lbl" />
    <link:label xlink:type="resource" xlink:label="iret_PreferredStockDividendsAnnualRatePerShare_lbl1" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="iret_PreferredStockDividendsAnnualRatePerShare_lbl1" xml:lang="en-US" id="iret_PreferredStockDividendsAnnualRatePerShare_lbl1">Preferred Stock Dividends, Annual Rate, per share</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="PreferredStockDividendsAnnualRatePerShare" xlink:to="iret_PreferredStockDividendsAnnualRatePerShare_lbl1" xlink:title="label: PreferredStockDividendsAnnualRatePerShare to iret_PreferredStockDividendsAnnualRatePerShare_lbl1" />
    <link:label xlink:type="resource" xlink:label="iret_PreferredStockDividendsAnnualRatePerShare_lbl2" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:title="iret_PreferredStockDividendsAnnualRatePerShare_lbl2" xml:lang="en-US" id="iret_PreferredStockDividendsAnnualRatePerShare_lbl2">Preferred stock dividends, annual rate (in dollars per share)</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="PreferredStockDividendsAnnualRatePerShare" xlink:to="iret_PreferredStockDividendsAnnualRatePerShare_lbl2" xlink:title="label: PreferredStockDividendsAnnualRatePerShare to iret_PreferredStockDividendsAnnualRatePerShare_lbl2" />
    <link:loc xlink:type="locator" xlink:href="iret-20130131.xsd#iret_PreferredStockDividendsAnnualRate" xlink:label="PreferredStockDividendsAnnualRate" xlink:title="PreferredStockDividendsAnnualRate" />
    <link:label xlink:type="resource" xlink:label="iret_PreferredStockDividendsAnnualRate_lbl" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:title="iret_PreferredStockDividendsAnnualRate_lbl" xml:lang="en-US" id="iret_PreferredStockDividendsAnnualRate_lbl">The rate of preferred stock dividends per share of liquidation preference amount.</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="PreferredStockDividendsAnnualRate" xlink:to="iret_PreferredStockDividendsAnnualRate_lbl" xlink:title="label: PreferredStockDividendsAnnualRate to iret_PreferredStockDividendsAnnualRate_lbl" />
    <link:label xlink:type="resource" xlink:label="iret_PreferredStockDividendsAnnualRate_lbl1" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="iret_PreferredStockDividendsAnnualRate_lbl1" xml:lang="en-US" id="iret_PreferredStockDividendsAnnualRate_lbl1">Preferred Stock dividends, annual Rate</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="PreferredStockDividendsAnnualRate" xlink:to="iret_PreferredStockDividendsAnnualRate_lbl1" xlink:title="label: PreferredStockDividendsAnnualRate to iret_PreferredStockDividendsAnnualRate_lbl1" />
    <link:label xlink:type="resource" xlink:label="iret_PreferredStockDividendsAnnualRate_lbl2" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:title="iret_PreferredStockDividendsAnnualRate_lbl2" xml:lang="en-US" id="iret_PreferredStockDividendsAnnualRate_lbl2">Preferred stock dividends, annual rate (in hundredths)</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="PreferredStockDividendsAnnualRate" xlink:to="iret_PreferredStockDividendsAnnualRate_lbl2" xlink:title="label: PreferredStockDividendsAnnualRate to iret_PreferredStockDividendsAnnualRate_lbl2" />
    <link:loc xlink:type="locator" xlink:href="iret-20130131.xsd#iret_LiquidationPreferenceRate" xlink:label="LiquidationPreferenceRate" xlink:title="LiquidationPreferenceRate" />
    <link:label xlink:type="resource" xlink:label="iret_LiquidationPreferenceRate_lbl" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:title="iret_LiquidationPreferenceRate_lbl" xml:lang="en-US" id="iret_LiquidationPreferenceRate_lbl">The liquidation preference rate of preferred stock.</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="LiquidationPreferenceRate" xlink:to="iret_LiquidationPreferenceRate_lbl" xlink:title="label: LiquidationPreferenceRate to iret_LiquidationPreferenceRate_lbl" />
    <link:label xlink:type="resource" xlink:label="iret_LiquidationPreferenceRate_lbl1" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="iret_LiquidationPreferenceRate_lbl1" xml:lang="en-US" id="iret_LiquidationPreferenceRate_lbl1">Liquidation Preference Rate</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="LiquidationPreferenceRate" xlink:to="iret_LiquidationPreferenceRate_lbl1" xlink:title="label: LiquidationPreferenceRate to iret_LiquidationPreferenceRate_lbl1" />
    <link:label xlink:type="resource" xlink:label="iret_LiquidationPreferenceRate_lbl2" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:title="iret_LiquidationPreferenceRate_lbl2" xml:lang="en-US" id="iret_LiquidationPreferenceRate_lbl2">Liquidation preference rate (in dollars per share)</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="LiquidationPreferenceRate" xlink:to="iret_LiquidationPreferenceRate_lbl2" xlink:title="label: LiquidationPreferenceRate to iret_LiquidationPreferenceRate_lbl2" />
    <link:loc xlink:type="locator" xlink:href="iret-20130131.xsd#iret_LiquidationPreference" xlink:label="LiquidationPreference" xlink:title="LiquidationPreference" />
    <link:label xlink:type="resource" xlink:label="iret_LiquidationPreference_lbl" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:title="iret_LiquidationPreference_lbl" xml:lang="en-US" id="iret_LiquidationPreference_lbl">The liquidation preference value of preferred stock.</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="LiquidationPreference" xlink:to="iret_LiquidationPreference_lbl" xlink:title="label: LiquidationPreference to iret_LiquidationPreference_lbl" />
    <link:label xlink:type="resource" xlink:label="iret_LiquidationPreference_lbl1" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="iret_LiquidationPreference_lbl1" xml:lang="en-US" id="iret_LiquidationPreference_lbl1">Liquidation Preference</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="LiquidationPreference" xlink:to="iret_LiquidationPreference_lbl1" xlink:title="label: LiquidationPreference to iret_LiquidationPreference_lbl1" />
    <link:label xlink:type="resource" xlink:label="iret_LiquidationPreference_lbl2" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:title="iret_LiquidationPreference_lbl2" xml:lang="en-US" id="iret_LiquidationPreference_lbl2">Liquidation preference</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="LiquidationPreference" xlink:to="iret_LiquidationPreference_lbl2" xlink:title="label: LiquidationPreference to iret_LiquidationPreference_lbl2" />
    <link:loc xlink:type="locator" xlink:href="iret-20130131.xsd#iret_NumberOfParcelsOfVacantLand" xlink:label="NumberOfParcelsOfVacantLand" xlink:title="NumberOfParcelsOfVacantLand" />
    <link:label xlink:type="resource" xlink:label="iret_NumberOfParcelsOfVacantLand_lbl" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:title="iret_NumberOfParcelsOfVacantLand_lbl" xml:lang="en-US" id="iret_NumberOfParcelsOfVacantLand_lbl">Number of parcels of vacant land acquired.</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="NumberOfParcelsOfVacantLand" xlink:to="iret_NumberOfParcelsOfVacantLand_lbl" xlink:title="label: NumberOfParcelsOfVacantLand to iret_NumberOfParcelsOfVacantLand_lbl" />
    <link:label xlink:type="resource" xlink:label="iret_NumberOfParcelsOfVacantLand_lbl1" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="iret_NumberOfParcelsOfVacantLand_lbl1" xml:lang="en-US" id="iret_NumberOfParcelsOfVacantLand_lbl1">Number of parcels of vacant land</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="NumberOfParcelsOfVacantLand" xlink:to="iret_NumberOfParcelsOfVacantLand_lbl1" xlink:title="label: NumberOfParcelsOfVacantLand to iret_NumberOfParcelsOfVacantLand_lbl1" />
    <link:label xlink:type="resource" xlink:label="iret_NumberOfParcelsOfVacantLand_lbl2" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:title="iret_NumberOfParcelsOfVacantLand_lbl2" xml:lang="en-US" id="iret_NumberOfParcelsOfVacantLand_lbl2">Number of parcels of vacant land acquired</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="NumberOfParcelsOfVacantLand" xlink:to="iret_NumberOfParcelsOfVacantLand_lbl2" xlink:title="label: NumberOfParcelsOfVacantLand to iret_NumberOfParcelsOfVacantLand_lbl2" />
    <link:loc xlink:type="locator" xlink:href="iret-20130131.xsd#iret_ProjectedRevenue" xlink:label="ProjectedRevenue" xlink:title="ProjectedRevenue" />
    <link:label xlink:type="resource" xlink:label="iret_ProjectedRevenue_lbl" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:title="iret_ProjectedRevenue_lbl" xml:lang="en-US" id="iret_ProjectedRevenue_lbl">The projected revenue from the sale of properties.</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ProjectedRevenue" xlink:to="iret_ProjectedRevenue_lbl" xlink:title="label: ProjectedRevenue to iret_ProjectedRevenue_lbl" />
    <link:label xlink:type="resource" xlink:label="iret_ProjectedRevenue_lbl1" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="iret_ProjectedRevenue_lbl1" xml:lang="en-US" id="iret_ProjectedRevenue_lbl1">Projected revenue</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ProjectedRevenue" xlink:to="iret_ProjectedRevenue_lbl1" xlink:title="label: ProjectedRevenue to iret_ProjectedRevenue_lbl1" />
    <link:loc xlink:type="locator" xlink:href="iret-20130131.xsd#iret_BuyerSAssumptionOfExistingMortgageDebt" xlink:label="BuyerSAssumptionOfExistingMortgageDebt" xlink:title="BuyerSAssumptionOfExistingMortgageDebt" />
    <link:label xlink:type="resource" xlink:label="iret_BuyerSAssumptionOfExistingMortgageDebt_lbl" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:title="iret_BuyerSAssumptionOfExistingMortgageDebt_lbl" xml:lang="en-US" id="iret_BuyerSAssumptionOfExistingMortgageDebt_lbl">The buyer's assumption of the existing mortgage debt on the property sold.</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="BuyerSAssumptionOfExistingMortgageDebt" xlink:to="iret_BuyerSAssumptionOfExistingMortgageDebt_lbl" xlink:title="label: BuyerSAssumptionOfExistingMortgageDebt to iret_BuyerSAssumptionOfExistingMortgageDebt_lbl" />
    <link:label xlink:type="resource" xlink:label="iret_BuyerSAssumptionOfExistingMortgageDebt_lbl1" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="iret_BuyerSAssumptionOfExistingMortgageDebt_lbl1" xml:lang="en-US" id="iret_BuyerSAssumptionOfExistingMortgageDebt_lbl1">Buyer's assumption of the existing mortgage debt</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="BuyerSAssumptionOfExistingMortgageDebt" xlink:to="iret_BuyerSAssumptionOfExistingMortgageDebt_lbl1" xlink:title="label: BuyerSAssumptionOfExistingMortgageDebt to iret_BuyerSAssumptionOfExistingMortgageDebt_lbl1" />
    <link:loc xlink:type="locator" xlink:href="iret-20130131.xsd#iret_NumberOfPropertyUnit" xlink:label="NumberOfPropertyUnit" xlink:title="NumberOfPropertyUnit" />
    <link:label xlink:type="resource" xlink:label="iret_NumberOfPropertyUnit_lbl" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:title="iret_NumberOfPropertyUnit_lbl" xml:lang="en-US" id="iret_NumberOfPropertyUnit_lbl">The number of property unit acquired.</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="NumberOfPropertyUnit" xlink:to="iret_NumberOfPropertyUnit_lbl" xlink:title="label: NumberOfPropertyUnit to iret_NumberOfPropertyUnit_lbl" />
    <link:label xlink:type="resource" xlink:label="iret_NumberOfPropertyUnit_lbl1" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="iret_NumberOfPropertyUnit_lbl1" xml:lang="en-US" id="iret_NumberOfPropertyUnit_lbl1">Number of property unit</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="NumberOfPropertyUnit" xlink:to="iret_NumberOfPropertyUnit_lbl1" xlink:title="label: NumberOfPropertyUnit to iret_NumberOfPropertyUnit_lbl1" />
    <link:loc xlink:type="locator" xlink:href="iret-20130131.xsd#iret_ProceedsFromIssuanceInitialPublicOfferingShares" xlink:label="ProceedsFromIssuanceInitialPublicOfferingShares" xlink:title="ProceedsFromIssuanceInitialPublicOfferingShares" />
    <link:label xlink:type="resource" xlink:label="iret_ProceedsFromIssuanceInitialPublicOfferingShares_lbl" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:title="iret_ProceedsFromIssuanceInitialPublicOfferingShares_lbl" xml:lang="en-US" id="iret_ProceedsFromIssuanceInitialPublicOfferingShares_lbl">Proceeds From Issuance Initial Public Offering in Shares</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ProceedsFromIssuanceInitialPublicOfferingShares" xlink:to="iret_ProceedsFromIssuanceInitialPublicOfferingShares_lbl" xlink:title="label: ProceedsFromIssuanceInitialPublicOfferingShares to iret_ProceedsFromIssuanceInitialPublicOfferingShares_lbl" />
    <link:label xlink:type="resource" xlink:label="iret_ProceedsFromIssuanceInitialPublicOfferingShares_lbl1" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="iret_ProceedsFromIssuanceInitialPublicOfferingShares_lbl1" xml:lang="en-US" id="iret_ProceedsFromIssuanceInitialPublicOfferingShares_lbl1">Proceeds From Issuance Initial Public Offering Shares</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ProceedsFromIssuanceInitialPublicOfferingShares" xlink:to="iret_ProceedsFromIssuanceInitialPublicOfferingShares_lbl1" xlink:title="label: ProceedsFromIssuanceInitialPublicOfferingShares to iret_ProceedsFromIssuanceInitialPublicOfferingShares_lbl1" />
    <link:label xlink:type="resource" xlink:label="iret_ProceedsFromIssuanceInitialPublicOfferingShares_lbl2" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:title="iret_ProceedsFromIssuanceInitialPublicOfferingShares_lbl2" xml:lang="en-US" id="iret_ProceedsFromIssuanceInitialPublicOfferingShares_lbl2">Series B preferred shares issued, in shares</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ProceedsFromIssuanceInitialPublicOfferingShares" xlink:to="iret_ProceedsFromIssuanceInitialPublicOfferingShares_lbl2" xlink:title="label: ProceedsFromIssuanceInitialPublicOfferingShares to iret_ProceedsFromIssuanceInitialPublicOfferingShares_lbl2" />
    <link:loc xlink:type="locator" xlink:href="iret-20130131.xsd#iret_MinotIpsMinotNorthDakotaMember" xlink:label="MinotIpsMinotNorthDakotaMember" xlink:title="MinotIpsMinotNorthDakotaMember" />
    <link:label xlink:type="resource" xlink:label="iret_MinotIpsMinotNorthDakotaMember_lbl1" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="iret_MinotIpsMinotNorthDakotaMember_lbl1" xml:lang="en-US" id="iret_MinotIpsMinotNorthDakotaMember_lbl1">Minot IPS, Minot, North Dakota [Member]</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="MinotIpsMinotNorthDakotaMember" xlink:to="iret_MinotIpsMinotNorthDakotaMember_lbl1" xlink:title="label: MinotIpsMinotNorthDakotaMember to iret_MinotIpsMinotNorthDakotaMember_lbl1" />
    <link:loc xlink:type="locator" xlink:href="iret-20130131.xsd#iret_DisposalGroupIncludingDiscontinuedOperationOtherIncome" xlink:label="DisposalGroupIncludingDiscontinuedOperationOtherIncome" xlink:title="DisposalGroupIncludingDiscontinuedOperationOtherIncome" />
    <link:label xlink:type="resource" xlink:label="iret_DisposalGroupIncludingDiscontinuedOperationOtherIncome_lbl" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:title="iret_DisposalGroupIncludingDiscontinuedOperationOtherIncome_lbl" xml:lang="en-US" id="iret_DisposalGroupIncludingDiscontinuedOperationOtherIncome_lbl">Amount of other operating expenses attributable to the disposal group, including a component of the entity (discontinued operation), during the reporting period</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="DisposalGroupIncludingDiscontinuedOperationOtherIncome" xlink:to="iret_DisposalGroupIncludingDiscontinuedOperationOtherIncome_lbl" xlink:title="label: DisposalGroupIncludingDiscontinuedOperationOtherIncome to iret_DisposalGroupIncludingDiscontinuedOperationOtherIncome_lbl" />
    <link:label xlink:type="resource" xlink:label="iret_DisposalGroupIncludingDiscontinuedOperationOtherIncome_lbl1" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="iret_DisposalGroupIncludingDiscontinuedOperationOtherIncome_lbl1" xml:lang="en-US" id="iret_DisposalGroupIncludingDiscontinuedOperationOtherIncome_lbl1">Disposal Group Including Discontinued Operation Other Income</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="DisposalGroupIncludingDiscontinuedOperationOtherIncome" xlink:to="iret_DisposalGroupIncludingDiscontinuedOperationOtherIncome_lbl1" xlink:title="label: DisposalGroupIncludingDiscontinuedOperationOtherIncome to iret_DisposalGroupIncludingDiscontinuedOperationOtherIncome_lbl1" />
    <link:loc xlink:type="locator" xlink:href="iret-20130131.xsd#iret_MinotNorthDakotaMember" xlink:label="MinotNorthDakotaMember" xlink:title="MinotNorthDakotaMember" />
    <link:label xlink:type="resource" xlink:label="iret_MinotNorthDakotaMember_lbl" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:title="iret_MinotNorthDakotaMember_lbl" xml:lang="en-US" id="iret_MinotNorthDakotaMember_lbl">Minot, North Dakota property acquired.</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="MinotNorthDakotaMember" xlink:to="iret_MinotNorthDakotaMember_lbl" xlink:title="label: MinotNorthDakotaMember to iret_MinotNorthDakotaMember_lbl" />
    <link:label xlink:type="resource" xlink:label="iret_MinotNorthDakotaMember_lbl1" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="iret_MinotNorthDakotaMember_lbl1" xml:lang="en-US" id="iret_MinotNorthDakotaMember_lbl1">Vacant land in Minot, North Dakota [Member]</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="MinotNorthDakotaMember" xlink:to="iret_MinotNorthDakotaMember_lbl1" xlink:title="label: MinotNorthDakotaMember to iret_MinotNorthDakotaMember_lbl1" />
    <link:loc xlink:type="locator" xlink:href="iret-20130131.xsd#iret_BismarckNorthDakotaMember" xlink:label="BismarckNorthDakotaMember" xlink:title="BismarckNorthDakotaMember" />
    <link:label xlink:type="resource" xlink:label="iret_BismarckNorthDakotaMember_lbl" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:title="iret_BismarckNorthDakotaMember_lbl" xml:lang="en-US" id="iret_BismarckNorthDakotaMember_lbl">Bismarck, North Dakota property acquired.</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="BismarckNorthDakotaMember" xlink:to="iret_BismarckNorthDakotaMember_lbl" xlink:title="label: BismarckNorthDakotaMember to iret_BismarckNorthDakotaMember_lbl" />
    <link:label xlink:type="resource" xlink:label="iret_BismarckNorthDakotaMember_lbl1" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="iret_BismarckNorthDakotaMember_lbl1" xml:lang="en-US" id="iret_BismarckNorthDakotaMember_lbl1">Bismarck, North Dakota [Member]</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="BismarckNorthDakotaMember" xlink:to="iret_BismarckNorthDakotaMember_lbl1" xlink:title="label: BismarckNorthDakotaMember to iret_BismarckNorthDakotaMember_lbl1" />
    <link:loc xlink:type="locator" xlink:href="iret-20130131.xsd#iret_OmahaNebraskaMember" xlink:label="OmahaNebraskaMember" xlink:title="OmahaNebraskaMember" />
    <link:label xlink:type="resource" xlink:label="iret_OmahaNebraskaMember_lbl" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:title="iret_OmahaNebraskaMember_lbl" xml:lang="en-US" id="iret_OmahaNebraskaMember_lbl">Omaha, Nebraska property acquired.</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="OmahaNebraskaMember" xlink:to="iret_OmahaNebraskaMember_lbl" xlink:title="label: OmahaNebraskaMember to iret_OmahaNebraskaMember_lbl" />
    <link:label xlink:type="resource" xlink:label="iret_OmahaNebraskaMember_lbl1" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="iret_OmahaNebraskaMember_lbl1" xml:lang="en-US" id="iret_OmahaNebraskaMember_lbl1">Omaha, Nebraska [Member]</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="OmahaNebraskaMember" xlink:to="iret_OmahaNebraskaMember_lbl1" xlink:title="label: OmahaNebraskaMember to iret_OmahaNebraskaMember_lbl1" />
    <link:loc xlink:type="locator" xlink:href="iret-20130131.xsd#iret_RapidCitySouthDakotaMember" xlink:label="RapidCitySouthDakotaMember" xlink:title="RapidCitySouthDakotaMember" />
    <link:label xlink:type="resource" xlink:label="iret_RapidCitySouthDakotaMember_lbl" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:title="iret_RapidCitySouthDakotaMember_lbl" xml:lang="en-US" id="iret_RapidCitySouthDakotaMember_lbl">Rapid City, South Dakota property acquired.</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="RapidCitySouthDakotaMember" xlink:to="iret_RapidCitySouthDakotaMember_lbl" xlink:title="label: RapidCitySouthDakotaMember to iret_RapidCitySouthDakotaMember_lbl" />
    <link:label xlink:type="resource" xlink:label="iret_RapidCitySouthDakotaMember_lbl1" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="iret_RapidCitySouthDakotaMember_lbl1" xml:lang="en-US" id="iret_RapidCitySouthDakotaMember_lbl1">Rapid City, South Dakota [Member]</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="RapidCitySouthDakotaMember" xlink:to="iret_RapidCitySouthDakotaMember_lbl1" xlink:title="label: RapidCitySouthDakotaMember to iret_RapidCitySouthDakotaMember_lbl1" />
    <link:loc xlink:type="locator" xlink:href="iret-20130131.xsd#iret_CypressCourtApartmentDevelopment-StCloudMnMember" xlink:label="CypressCourtApartmentDevelopment-StCloudMnMember" xlink:title="CypressCourtApartmentDevelopment-StCloudMnMember" />
    <link:label xlink:type="resource" xlink:label="iret_CypressCourtApartmentDevelopment-StCloudMnMember_lbl" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:title="iret_CypressCourtApartmentDevelopment-StCloudMnMember_lbl" xml:lang="en-US" id="iret_CypressCourtApartmentDevelopment-StCloudMnMember_lbl">Cypress Court Apartment Development - St. Cloud, MN acquired or disposed.</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="CypressCourtApartmentDevelopment-StCloudMnMember" xlink:to="iret_CypressCourtApartmentDevelopment-StCloudMnMember_lbl" xlink:title="label: CypressCourtApartmentDevelopment-StCloudMnMember to iret_CypressCourtApartmentDevelopment-StCloudMnMember_lbl" />
    <link:label xlink:type="resource" xlink:label="iret_CypressCourtApartmentDevelopment-StCloudMnMember_lbl1" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="iret_CypressCourtApartmentDevelopment-StCloudMnMember_lbl1" xml:lang="en-US" id="iret_CypressCourtApartmentDevelopment-StCloudMnMember_lbl1">Cypress Court Apartment Development - St. Cloud, MN [Member]</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="CypressCourtApartmentDevelopment-StCloudMnMember" xlink:to="iret_CypressCourtApartmentDevelopment-StCloudMnMember_lbl1" xlink:title="label: CypressCourtApartmentDevelopment-StCloudMnMember to iret_CypressCourtApartmentDevelopment-StCloudMnMember_lbl1" />
    <link:loc xlink:type="locator" xlink:href="iret-20130131.xsd#iret_MinotIps-MinotNdMember" xlink:label="MinotIps-MinotNdMember" xlink:title="MinotIps-MinotNdMember" />
    <link:label xlink:type="resource" xlink:label="iret_MinotIps-MinotNdMember_lbl" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:title="iret_MinotIps-MinotNdMember_lbl" xml:lang="en-US" id="iret_MinotIps-MinotNdMember_lbl">Minot IPS - Minot, ND property acquired or disposed.</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="MinotIps-MinotNdMember" xlink:to="iret_MinotIps-MinotNdMember_lbl" xlink:title="label: MinotIps-MinotNdMember to iret_MinotIps-MinotNdMember_lbl" />
    <link:label xlink:type="resource" xlink:label="iret_MinotIps-MinotNdMember_lbl1" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="iret_MinotIps-MinotNdMember_lbl1" xml:lang="en-US" id="iret_MinotIps-MinotNdMember_lbl1">Minot IPS - Minot, ND [Member]</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="MinotIps-MinotNdMember" xlink:to="iret_MinotIps-MinotNdMember_lbl1" xlink:title="label: MinotIps-MinotNdMember to iret_MinotIps-MinotNdMember_lbl1" />
    <link:loc xlink:type="locator" xlink:href="iret-20130131.xsd#iret_AcquisitionsDateOfTransactionForAcquisitionOrDisposal" xlink:label="AcquisitionsDateOfTransactionForAcquisitionOrDisposal" xlink:title="AcquisitionsDateOfTransactionForAcquisitionOrDisposal" />
    <link:label xlink:type="resource" xlink:label="iret_AcquisitionsDateOfTransactionForAcquisitionOrDisposal_lbl" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:title="iret_AcquisitionsDateOfTransactionForAcquisitionOrDisposal_lbl" xml:lang="en-US" id="iret_AcquisitionsDateOfTransactionForAcquisitionOrDisposal_lbl">Date of acquisition, in CCYY-MM-DD format.</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="AcquisitionsDateOfTransactionForAcquisitionOrDisposal" xlink:to="iret_AcquisitionsDateOfTransactionForAcquisitionOrDisposal_lbl" xlink:title="label: AcquisitionsDateOfTransactionForAcquisitionOrDisposal to iret_AcquisitionsDateOfTransactionForAcquisitionOrDisposal_lbl" />
    <link:label xlink:type="resource" xlink:label="iret_AcquisitionsDateOfTransactionForAcquisitionOrDisposal_lbl1" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="iret_AcquisitionsDateOfTransactionForAcquisitionOrDisposal_lbl1" xml:lang="en-US" id="iret_AcquisitionsDateOfTransactionForAcquisitionOrDisposal_lbl1">Acquisitions, Date of Transaction for Acquisition or Disposal</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="AcquisitionsDateOfTransactionForAcquisitionOrDisposal" xlink:to="iret_AcquisitionsDateOfTransactionForAcquisitionOrDisposal_lbl1" xlink:title="label: AcquisitionsDateOfTransactionForAcquisitionOrDisposal to iret_AcquisitionsDateOfTransactionForAcquisitionOrDisposal_lbl1" />
    <link:label xlink:type="resource" xlink:label="iret_AcquisitionsDateOfTransactionForAcquisitionOrDisposal_lbl2" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:title="iret_AcquisitionsDateOfTransactionForAcquisitionOrDisposal_lbl2" xml:lang="en-US" id="iret_AcquisitionsDateOfTransactionForAcquisitionOrDisposal_lbl2">Date Acquisition</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="AcquisitionsDateOfTransactionForAcquisitionOrDisposal" xlink:to="iret_AcquisitionsDateOfTransactionForAcquisitionOrDisposal_lbl2" xlink:title="label: AcquisitionsDateOfTransactionForAcquisitionOrDisposal to iret_AcquisitionsDateOfTransactionForAcquisitionOrDisposal_lbl2" />
    <link:loc xlink:type="locator" xlink:href="iret-20130131.xsd#iret_DisposalsDateOfTransactionForAcquisitionOrDisposal" xlink:label="DisposalsDateOfTransactionForAcquisitionOrDisposal" xlink:title="DisposalsDateOfTransactionForAcquisitionOrDisposal" />
    <link:label xlink:type="resource" xlink:label="iret_DisposalsDateOfTransactionForAcquisitionOrDisposal_lbl" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:title="iret_DisposalsDateOfTransactionForAcquisitionOrDisposal_lbl" xml:lang="en-US" id="iret_DisposalsDateOfTransactionForAcquisitionOrDisposal_lbl">Date of disposal, in CCYY-MM-DD format.</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="DisposalsDateOfTransactionForAcquisitionOrDisposal" xlink:to="iret_DisposalsDateOfTransactionForAcquisitionOrDisposal_lbl" xlink:title="label: DisposalsDateOfTransactionForAcquisitionOrDisposal to iret_DisposalsDateOfTransactionForAcquisitionOrDisposal_lbl" />
    <link:label xlink:type="resource" xlink:label="iret_DisposalsDateOfTransactionForAcquisitionOrDisposal_lbl1" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="iret_DisposalsDateOfTransactionForAcquisitionOrDisposal_lbl1" xml:lang="en-US" id="iret_DisposalsDateOfTransactionForAcquisitionOrDisposal_lbl1">Disposals, Date of Transaction for Acquisition or Disposal</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="DisposalsDateOfTransactionForAcquisitionOrDisposal" xlink:to="iret_DisposalsDateOfTransactionForAcquisitionOrDisposal_lbl1" xlink:title="label: DisposalsDateOfTransactionForAcquisitionOrDisposal to iret_DisposalsDateOfTransactionForAcquisitionOrDisposal_lbl1" />
    <link:label xlink:type="resource" xlink:label="iret_DisposalsDateOfTransactionForAcquisitionOrDisposal_lbl2" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:title="iret_DisposalsDateOfTransactionForAcquisitionOrDisposal_lbl2" xml:lang="en-US" id="iret_DisposalsDateOfTransactionForAcquisitionOrDisposal_lbl2">Date Disposal</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="DisposalsDateOfTransactionForAcquisitionOrDisposal" xlink:to="iret_DisposalsDateOfTransactionForAcquisitionOrDisposal_lbl2" xlink:title="label: DisposalsDateOfTransactionForAcquisitionOrDisposal to iret_DisposalsDateOfTransactionForAcquisitionOrDisposal_lbl2" />
    <link:loc xlink:type="locator" xlink:href="iret-20130131.xsd#iret_NumberOfApartmentUnitsAcquisitions" xlink:label="NumberOfApartmentUnitsAcquisitions" xlink:title="NumberOfApartmentUnitsAcquisitions" />
    <link:label xlink:type="resource" xlink:label="iret_NumberOfApartmentUnitsAcquisitions_lbl" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:title="iret_NumberOfApartmentUnitsAcquisitions_lbl" xml:lang="en-US" id="iret_NumberOfApartmentUnitsAcquisitions_lbl">Number of apartment units acquired.</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="NumberOfApartmentUnitsAcquisitions" xlink:to="iret_NumberOfApartmentUnitsAcquisitions_lbl" xlink:title="label: NumberOfApartmentUnitsAcquisitions to iret_NumberOfApartmentUnitsAcquisitions_lbl" />
    <link:label xlink:type="resource" xlink:label="iret_NumberOfApartmentUnitsAcquisitions_lbl1" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="iret_NumberOfApartmentUnitsAcquisitions_lbl1" xml:lang="en-US" id="iret_NumberOfApartmentUnitsAcquisitions_lbl1">Number of apartment units, acquisitions</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="NumberOfApartmentUnitsAcquisitions" xlink:to="iret_NumberOfApartmentUnitsAcquisitions_lbl1" xlink:title="label: NumberOfApartmentUnitsAcquisitions to iret_NumberOfApartmentUnitsAcquisitions_lbl1" />
    <link:label xlink:type="resource" xlink:label="iret_NumberOfApartmentUnitsAcquisitions_lbl2" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:title="iret_NumberOfApartmentUnitsAcquisitions_lbl2" xml:lang="en-US" id="iret_NumberOfApartmentUnitsAcquisitions_lbl2">Number of apartment units</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="NumberOfApartmentUnitsAcquisitions" xlink:to="iret_NumberOfApartmentUnitsAcquisitions_lbl2" xlink:title="label: NumberOfApartmentUnitsAcquisitions to iret_NumberOfApartmentUnitsAcquisitions_lbl2" />
    <link:loc xlink:type="locator" xlink:href="iret-20130131.xsd#iret_NumberOfApartmentUnitsDispositions" xlink:label="NumberOfApartmentUnitsDispositions" xlink:title="NumberOfApartmentUnitsDispositions" />
    <link:label xlink:type="resource" xlink:label="iret_NumberOfApartmentUnitsDispositions_lbl" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:title="iret_NumberOfApartmentUnitsDispositions_lbl" xml:lang="en-US" id="iret_NumberOfApartmentUnitsDispositions_lbl">Number of apartment units disposed.</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="NumberOfApartmentUnitsDispositions" xlink:to="iret_NumberOfApartmentUnitsDispositions_lbl" xlink:title="label: NumberOfApartmentUnitsDispositions to iret_NumberOfApartmentUnitsDispositions_lbl" />
    <link:label xlink:type="resource" xlink:label="iret_NumberOfApartmentUnitsDispositions_lbl1" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="iret_NumberOfApartmentUnitsDispositions_lbl1" xml:lang="en-US" id="iret_NumberOfApartmentUnitsDispositions_lbl1">Number of apartment units, dispositions</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="NumberOfApartmentUnitsDispositions" xlink:to="iret_NumberOfApartmentUnitsDispositions_lbl1" xlink:title="label: NumberOfApartmentUnitsDispositions to iret_NumberOfApartmentUnitsDispositions_lbl1" />
    <link:label xlink:type="resource" xlink:label="iret_NumberOfApartmentUnitsDispositions_lbl2" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:title="iret_NumberOfApartmentUnitsDispositions_lbl2" xml:lang="en-US" id="iret_NumberOfApartmentUnitsDispositions_lbl2">Number of apartment units</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="NumberOfApartmentUnitsDispositions" xlink:to="iret_NumberOfApartmentUnitsDispositions_lbl2" xlink:title="label: NumberOfApartmentUnitsDispositions to iret_NumberOfApartmentUnitsDispositions_lbl2" />
    <link:loc xlink:type="locator" xlink:href="iret-20130131.xsd#iret_AreaOfRealEstatePropertyDispositions" xlink:label="AreaOfRealEstatePropertyDispositions" xlink:title="AreaOfRealEstatePropertyDispositions" />
    <link:label xlink:type="resource" xlink:label="iret_AreaOfRealEstatePropertyDispositions_lbl" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:title="iret_AreaOfRealEstatePropertyDispositions_lbl" xml:lang="en-US" id="iret_AreaOfRealEstatePropertyDispositions_lbl">Area of a real estate property disposed.</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="AreaOfRealEstatePropertyDispositions" xlink:to="iret_AreaOfRealEstatePropertyDispositions_lbl" xlink:title="label: AreaOfRealEstatePropertyDispositions to iret_AreaOfRealEstatePropertyDispositions_lbl" />
    <link:label xlink:type="resource" xlink:label="iret_AreaOfRealEstatePropertyDispositions_lbl1" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="iret_AreaOfRealEstatePropertyDispositions_lbl1" xml:lang="en-US" id="iret_AreaOfRealEstatePropertyDispositions_lbl1">Area of Real Estate Property, dispositions</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="AreaOfRealEstatePropertyDispositions" xlink:to="iret_AreaOfRealEstatePropertyDispositions_lbl1" xlink:title="label: AreaOfRealEstatePropertyDispositions to iret_AreaOfRealEstatePropertyDispositions_lbl1" />
    <link:label xlink:type="resource" xlink:label="iret_AreaOfRealEstatePropertyDispositions_lbl2" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:title="iret_AreaOfRealEstatePropertyDispositions_lbl2" xml:lang="en-US" id="iret_AreaOfRealEstatePropertyDispositions_lbl2">Area of a real estate property (in square feet)</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="AreaOfRealEstatePropertyDispositions" xlink:to="iret_AreaOfRealEstatePropertyDispositions_lbl2" xlink:title="label: AreaOfRealEstatePropertyDispositions to iret_AreaOfRealEstatePropertyDispositions_lbl2" />
    <link:loc xlink:type="locator" xlink:href="iret-20130131.xsd#iret_AreaOfRealEstatePropertyAcquisitions" xlink:label="AreaOfRealEstatePropertyAcquisitions" xlink:title="AreaOfRealEstatePropertyAcquisitions" />
    <link:label xlink:type="resource" xlink:label="iret_AreaOfRealEstatePropertyAcquisitions_lbl" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:title="iret_AreaOfRealEstatePropertyAcquisitions_lbl" xml:lang="en-US" id="iret_AreaOfRealEstatePropertyAcquisitions_lbl">Area of a real estate property acquisitions.</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="AreaOfRealEstatePropertyAcquisitions" xlink:to="iret_AreaOfRealEstatePropertyAcquisitions_lbl" xlink:title="label: AreaOfRealEstatePropertyAcquisitions to iret_AreaOfRealEstatePropertyAcquisitions_lbl" />
    <link:label xlink:type="resource" xlink:label="iret_AreaOfRealEstatePropertyAcquisitions_lbl1" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="iret_AreaOfRealEstatePropertyAcquisitions_lbl1" xml:lang="en-US" id="iret_AreaOfRealEstatePropertyAcquisitions_lbl1">Area of Real Estate Property, acquisitions</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="AreaOfRealEstatePropertyAcquisitions" xlink:to="iret_AreaOfRealEstatePropertyAcquisitions_lbl1" xlink:title="label: AreaOfRealEstatePropertyAcquisitions to iret_AreaOfRealEstatePropertyAcquisitions_lbl1" />
    <link:label xlink:type="resource" xlink:label="iret_AreaOfRealEstatePropertyAcquisitions_lbl2" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:title="iret_AreaOfRealEstatePropertyAcquisitions_lbl2" xml:lang="en-US" id="iret_AreaOfRealEstatePropertyAcquisitions_lbl2">Area of a real estate property (in square feet)</link:label>
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    <link:loc xlink:type="locator" xlink:href="iret-20130131.xsd#iret_AreaOfVacantLandAcquired" xlink:label="AreaOfVacantLandAcquired" xlink:title="AreaOfVacantLandAcquired" />
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    <link:label xlink:type="resource" xlink:label="iret_AreaOfVacantLandAcquired_lbl2" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:title="iret_AreaOfVacantLandAcquired_lbl2" xml:lang="en-US" id="iret_AreaOfVacantLandAcquired_lbl2">Area of vacant land acquired (in acres)</link:label>
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