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<!--Created on: 6/28/2017 3:15:46 PM-->
<!--Modified on: 6/28/2017 3:15:46 PM-->
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    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_RealEstateInvestmentPropertyNet_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase">Real Estate Investment Property, Net</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/totalLabel" xlink:label="us-gaap_RealEstateInvestmentPropertyNet_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase">Total property owned</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:label="us-gaap_RealEstateInvestmentPropertyNet_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase">Property owned net</label>
    <loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2016/elts/us-gaap-2016-01-31.xsd#us-gaap_DevelopmentInProcess" xlink:label="us-gaap_DevelopmentInProcess" xmlns="http://www.xbrl.org/2003/linkbase" />
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_DevelopmentInProcess" xlink:to="us-gaap_DevelopmentInProcess_lbl" xmlns="http://www.xbrl.org/2003/linkbase" />
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_DevelopmentInProcess_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase">Development in progress</label>
    <loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2016/elts/us-gaap-2016-01-31.xsd#us-gaap_LandAvailableForDevelopment" xlink:label="us-gaap_LandAvailableForDevelopment" xmlns="http://www.xbrl.org/2003/linkbase" />
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_LandAvailableForDevelopment" xlink:to="us-gaap_LandAvailableForDevelopment_lbl" xmlns="http://www.xbrl.org/2003/linkbase" />
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_LandAvailableForDevelopment_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase">Unimproved land</label>
    <loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2016/elts/us-gaap-2016-01-31.xsd#us-gaap_Investments" xlink:label="us-gaap_Investments" xmlns="http://www.xbrl.org/2003/linkbase" />
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_Investments" xlink:to="us-gaap_Investments_lbl" xmlns="http://www.xbrl.org/2003/linkbase" />
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_Investments_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase">Investments</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="us-gaap_Investments_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase">Total real estate investments</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/totalLabel" xlink:label="us-gaap_Investments_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase">Total real estate investments</label>
    <loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2016/elts/us-gaap-2016-01-31.xsd#us-gaap_AssetsNoncurrentAbstract" xlink:label="us-gaap_AssetsNoncurrentAbstract" xmlns="http://www.xbrl.org/2003/linkbase" />
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_AssetsNoncurrentAbstract" xlink:to="us-gaap_AssetsNoncurrentAbstract_lbl" xmlns="http://www.xbrl.org/2003/linkbase" />
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_AssetsNoncurrentAbstract_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase">Other assets</label>
    <loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2016/elts/us-gaap-2016-01-31.xsd#us-gaap_RealEstateHeldforsale" xlink:label="us-gaap_RealEstateHeldforsale" xmlns="http://www.xbrl.org/2003/linkbase" />
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_RealEstateHeldforsale" xlink:to="us-gaap_RealEstateHeldforsale_lbl" xmlns="http://www.xbrl.org/2003/linkbase" />
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_RealEstateHeldforsale_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase">Real Estate Held-for-sale</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:label="us-gaap_RealEstateHeldforsale_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase">Assets held for sale and assets of discontinued operations</label>
    <loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2016/elts/us-gaap-2016-01-31.xsd#us-gaap_CashAndCashEquivalentsAtCarryingValue" xlink:label="us-gaap_CashAndCashEquivalentsAtCarryingValue" xmlns="http://www.xbrl.org/2003/linkbase" />
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_CashAndCashEquivalentsAtCarryingValue" xlink:to="us-gaap_CashAndCashEquivalentsAtCarryingValue_lbl" xmlns="http://www.xbrl.org/2003/linkbase" />
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_CashAndCashEquivalentsAtCarryingValue_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase">Cash and cash equivalents</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/periodEndLabel" xlink:label="us-gaap_CashAndCashEquivalentsAtCarryingValue_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase">CASH AND CASH EQUIVALENTS AT END OF YEAR</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/periodStartLabel" xlink:label="us-gaap_CashAndCashEquivalentsAtCarryingValue_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase">CASH AND CASH EQUIVALENTS AT BEGINNING OF YEAR</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="us-gaap_CashAndCashEquivalentsAtCarryingValue_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase">Cash and cash equivalents</label>
    <loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2016/elts/us-gaap-2016-01-31.xsd#us-gaap_OtherLongTermInvestments" xlink:label="us-gaap_OtherLongTermInvestments" xmlns="http://www.xbrl.org/2003/linkbase" />
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_OtherLongTermInvestments" xlink:to="us-gaap_OtherLongTermInvestments_lbl" xmlns="http://www.xbrl.org/2003/linkbase" />
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_OtherLongTermInvestments_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase">Other Long-term Investments</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="us-gaap_OtherLongTermInvestments_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase">Other investments</label>
    <loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2016/elts/us-gaap-2016-01-31.xsd#us-gaap_DeferredRentReceivablesNet" xlink:label="us-gaap_DeferredRentReceivablesNet" xmlns="http://www.xbrl.org/2003/linkbase" />
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_DeferredRentReceivablesNet" xlink:to="us-gaap_DeferredRentReceivablesNet_lbl" xmlns="http://www.xbrl.org/2003/linkbase" />
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_DeferredRentReceivablesNet_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase">Receivable arising from straight-lining of rents, net of allowance of $333 and $222, respectively</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:label="us-gaap_DeferredRentReceivablesNet_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase">Receivable arising from straight-lining of rents, net of allowance of $340 and $333, respectively</label>
    <loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2016/elts/us-gaap-2016-01-31.xsd#us-gaap_AccountsReceivableNet" xlink:label="us-gaap_AccountsReceivableNet" xmlns="http://www.xbrl.org/2003/linkbase" />
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_AccountsReceivableNet" xlink:to="us-gaap_AccountsReceivableNet_lbl" xmlns="http://www.xbrl.org/2003/linkbase" />
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_AccountsReceivableNet_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase">Accounts receivable, net of allowance of $97 and $439, respectively</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:label="us-gaap_AccountsReceivableNet_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase">Accounts receivable, net of allowance of $210 and $97, respectively</label>
    <loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2016/elts/us-gaap-2016-01-31.xsd#us-gaap_EarnestMoneyDeposits" xlink:label="us-gaap_EarnestMoneyDeposits" xmlns="http://www.xbrl.org/2003/linkbase" />
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_EarnestMoneyDeposits" xlink:to="us-gaap_EarnestMoneyDeposits_lbl" xmlns="http://www.xbrl.org/2003/linkbase" />
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_EarnestMoneyDeposits_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase">Real estate deposits</label>
    <loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2016/elts/us-gaap-2016-01-31.xsd#us-gaap_PrepaidExpenseAndOtherAssets" xlink:label="us-gaap_PrepaidExpenseAndOtherAssets" xmlns="http://www.xbrl.org/2003/linkbase" />
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_PrepaidExpenseAndOtherAssets" xlink:to="us-gaap_PrepaidExpenseAndOtherAssets_lbl" xmlns="http://www.xbrl.org/2003/linkbase" />
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_PrepaidExpenseAndOtherAssets_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase">Prepaid and other assets</label>
    <loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2016/elts/us-gaap-2016-01-31.xsd#us-gaap_IntangibleAssetsNetExcludingGoodwill" xlink:label="us-gaap_IntangibleAssetsNetExcludingGoodwill" xmlns="http://www.xbrl.org/2003/linkbase" />
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_IntangibleAssetsNetExcludingGoodwill" xlink:to="us-gaap_IntangibleAssetsNetExcludingGoodwill_lbl" xmlns="http://www.xbrl.org/2003/linkbase" />
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_IntangibleAssetsNetExcludingGoodwill_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase">Intangible assets, net of accumulated amortization of $6,230 and $6,112, respectively</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/totalLabel" xlink:label="us-gaap_IntangibleAssetsNetExcludingGoodwill_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase">Net carrying amount</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:label="us-gaap_IntangibleAssetsNetExcludingGoodwill_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase">Intangible assets, net of accumulated amortization of $5,444 and $6,230, respectively</label>
    <loc xlink:type="locator" xlink:href="iret-20170430.xsd#iret_TaxInsuranceAndOtherEscrowAssets" xlink:label="iret_TaxInsuranceAndOtherEscrowAssets" xmlns="http://www.xbrl.org/2003/linkbase" />
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="iret_TaxInsuranceAndOtherEscrowAssets" xlink:to="iret_TaxInsuranceAndOtherEscrowAssets_lbl" xmlns="http://www.xbrl.org/2003/linkbase" />
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="iret_TaxInsuranceAndOtherEscrowAssets_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase">Amount of asset related to consideration paid in advance for tax, insurance, and other escrow.</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="iret_TaxInsuranceAndOtherEscrowAssets_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase">Tax Insurance and Other Escrow Assets</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="iret_TaxInsuranceAndOtherEscrowAssets_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase">Tax, insurance, and other escrow</label>
    <loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2016/elts/us-gaap-2016-01-31.xsd#us-gaap_PropertyPlantAndEquipmentNet" xlink:label="us-gaap_PropertyPlantAndEquipmentNet" xmlns="http://www.xbrl.org/2003/linkbase" />
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_PropertyPlantAndEquipmentNet" xlink:to="us-gaap_PropertyPlantAndEquipmentNet_lbl" xmlns="http://www.xbrl.org/2003/linkbase" />
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_PropertyPlantAndEquipmentNet_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase">Property and equipment, net of accumulated depreciation of $1,058 and $1,374, respectively</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:label="us-gaap_PropertyPlantAndEquipmentNet_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase">Property and equipment, net of accumulated depreciation of $1,199 and $1,058, respectively</label>
    <loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2016/elts/us-gaap-2016-01-31.xsd#us-gaap_Goodwill" xlink:label="us-gaap_Goodwill" xmlns="http://www.xbrl.org/2003/linkbase" />
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_Goodwill" xlink:to="us-gaap_Goodwill_lbl" xmlns="http://www.xbrl.org/2003/linkbase" />
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_Goodwill_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase">Goodwill</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="us-gaap_Goodwill_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase">Goodwill book value</label>
    <loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2016/elts/us-gaap-2016-01-31.xsd#us-gaap_DeferredCostsLeasingNet" xlink:label="us-gaap_DeferredCostsLeasingNet" xmlns="http://www.xbrl.org/2003/linkbase" />
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_DeferredCostsLeasingNet" xlink:to="us-gaap_DeferredCostsLeasingNet_lbl" xmlns="http://www.xbrl.org/2003/linkbase" />
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_DeferredCostsLeasingNet_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase">Deferred charges and leasing costs, net of accumulated amortization of $8,716 and $7,524, respectively</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:label="us-gaap_DeferredCostsLeasingNet_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase">Deferred charges and leasing costs, net of accumulated amortization of $4,038 and $3,719, respectively</label>
    <loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2016/elts/us-gaap-2016-01-31.xsd#us-gaap_Assets" xlink:label="us-gaap_Assets" xmlns="http://www.xbrl.org/2003/linkbase" />
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_Assets" xlink:to="us-gaap_Assets_lbl" xmlns="http://www.xbrl.org/2003/linkbase" />
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_Assets_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase">Assets</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/totalLabel" xlink:label="us-gaap_Assets_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase">TOTAL ASSETS</label>
    <loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2016/elts/us-gaap-2016-01-31.xsd#us-gaap_LiabilitiesAndStockholdersEquityAbstract" xlink:label="us-gaap_LiabilitiesAndStockholdersEquityAbstract" xmlns="http://www.xbrl.org/2003/linkbase" />
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_LiabilitiesAndStockholdersEquityAbstract" xlink:to="us-gaap_LiabilitiesAndStockholdersEquityAbstract_lbl" xmlns="http://www.xbrl.org/2003/linkbase" />
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_LiabilitiesAndStockholdersEquityAbstract_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase">LIABILITIES, REDEEMABLE NONCONTROLLING INTERESTS AND EQUITY</label>
    <loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2016/elts/us-gaap-2016-01-31.xsd#us-gaap_LiabilitiesAbstract" xlink:label="us-gaap_LiabilitiesAbstract" xmlns="http://www.xbrl.org/2003/linkbase" />
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_LiabilitiesAbstract" xlink:to="us-gaap_LiabilitiesAbstract_lbl" xmlns="http://www.xbrl.org/2003/linkbase" />
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_LiabilitiesAbstract_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase">Liabilities [Abstract]</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="us-gaap_LiabilitiesAbstract_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase">LIABILITIES</label>
    <loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2016/elts/us-gaap-2016-01-31.xsd#us-gaap_LiabilitiesOfDisposalGroupIncludingDiscontinuedOperation" xlink:label="us-gaap_LiabilitiesOfDisposalGroupIncludingDiscontinuedOperation" xmlns="http://www.xbrl.org/2003/linkbase" />
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_LiabilitiesOfDisposalGroupIncludingDiscontinuedOperation" xlink:to="us-gaap_LiabilitiesOfDisposalGroupIncludingDiscontinuedOperation_lbl" xmlns="http://www.xbrl.org/2003/linkbase" />
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_LiabilitiesOfDisposalGroupIncludingDiscontinuedOperation_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase">Disposal Group, Including Discontinued Operation, Liabilities</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="us-gaap_LiabilitiesOfDisposalGroupIncludingDiscontinuedOperation_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase">Liabilities held for sale and liabilities of discontinued operations</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/totalLabel" xlink:label="us-gaap_LiabilitiesOfDisposalGroupIncludingDiscontinuedOperation_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase">Total liabilities of the disposal groups classified as held for sale on the balance sheet</label>
    <loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2016/elts/us-gaap-2016-01-31.xsd#us-gaap_AccountsPayableAndAccruedLiabilitiesCurrentAndNoncurrent" xlink:label="us-gaap_AccountsPayableAndAccruedLiabilitiesCurrentAndNoncurrent" xmlns="http://www.xbrl.org/2003/linkbase" />
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_AccountsPayableAndAccruedLiabilitiesCurrentAndNoncurrent" xlink:to="us-gaap_AccountsPayableAndAccruedLiabilitiesCurrentAndNoncurrent_lbl" xmlns="http://www.xbrl.org/2003/linkbase" />
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_AccountsPayableAndAccruedLiabilitiesCurrentAndNoncurrent_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase">Accounts payable and accrued expenses</label>
    <loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2016/elts/us-gaap-2016-01-31.xsd#us-gaap_LinesOfCreditCurrent" xlink:label="us-gaap_LinesOfCreditCurrent" xmlns="http://www.xbrl.org/2003/linkbase" />
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_LinesOfCreditCurrent" xlink:to="us-gaap_LinesOfCreditCurrent_lbl" xmlns="http://www.xbrl.org/2003/linkbase" />
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_LinesOfCreditCurrent_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase">Revolving line of credit</label>
    <loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2016/elts/us-gaap-2016-01-31.xsd#us-gaap_LongTermDebt" xlink:label="us-gaap_LongTermDebt" xmlns="http://www.xbrl.org/2003/linkbase" />
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_LongTermDebt" xlink:to="us-gaap_LongTermDebt_lbl" xmlns="http://www.xbrl.org/2003/linkbase" />
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_LongTermDebt_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase">Mortgages payable</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="us-gaap_LongTermDebt_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase">Mortgages payable</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/totalLabel" xlink:label="us-gaap_LongTermDebt_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase">Total payments</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:label="us-gaap_LongTermDebt_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase">Mortgages payable, net of unamortized loan costs of $5,137 and $4,931, respectively</label>
    <loc xlink:type="locator" xlink:href="iret-20170430.xsd#iret_ConstructionDebtAndOtherLiabilities" xlink:label="iret_ConstructionDebtAndOtherLiabilities" xmlns="http://www.xbrl.org/2003/linkbase" />
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="iret_ConstructionDebtAndOtherLiabilities" xlink:to="iret_ConstructionDebtAndOtherLiabilities_lbl" xmlns="http://www.xbrl.org/2003/linkbase" />
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="iret_ConstructionDebtAndOtherLiabilities_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase">This element represents loan with an initial maturity beyond one year or beyond the normal operating cycle, if longer, to finance building costs and the aggregate carrying amount of other liabilities, as of the balance sheet date.</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="iret_ConstructionDebtAndOtherLiabilities_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase">Construction Debt And Other Liabilities</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="iret_ConstructionDebtAndOtherLiabilities_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase">Construction debt and other</label>
    <loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2016/elts/us-gaap-2016-01-31.xsd#us-gaap_Liabilities" xlink:label="us-gaap_Liabilities" xmlns="http://www.xbrl.org/2003/linkbase" />
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_Liabilities" xlink:to="us-gaap_Liabilities_lbl" xmlns="http://www.xbrl.org/2003/linkbase" />
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_Liabilities_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase">Liabilities</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/totalLabel" xlink:label="us-gaap_Liabilities_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase">TOTAL LIABILITIES</label>
    <loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2016/elts/us-gaap-2016-01-31.xsd#us-gaap_CommitmentsAndContingencies" xlink:label="us-gaap_CommitmentsAndContingencies" xmlns="http://www.xbrl.org/2003/linkbase" />
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_CommitmentsAndContingencies" xlink:to="us-gaap_CommitmentsAndContingencies_lbl" xmlns="http://www.xbrl.org/2003/linkbase" />
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_CommitmentsAndContingencies_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase">COMMITMENTS AND CONTINGENCIES (NOTE 15)</label>
    <loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2016/elts/us-gaap-2016-01-31.xsd#us-gaap_TemporaryEquityCarryingAmountAttributableToParent" xlink:label="us-gaap_TemporaryEquityCarryingAmountAttributableToParent" xmlns="http://www.xbrl.org/2003/linkbase" />
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_TemporaryEquityCarryingAmountAttributableToParent" xlink:to="us-gaap_TemporaryEquityCarryingAmountAttributableToParent_lbl" xmlns="http://www.xbrl.org/2003/linkbase" />
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_TemporaryEquityCarryingAmountAttributableToParent_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase">REDEEMABLE NONCONTROLLING INTERESTS - CONSOLIDATED REAL ESTATE ENTITIES</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/periodEndLabel" xlink:label="us-gaap_TemporaryEquityCarryingAmountAttributableToParent_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase">Balance at close of fiscal year</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/periodStartLabel" xlink:label="us-gaap_TemporaryEquityCarryingAmountAttributableToParent_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase">Balance at beginning of fiscal year</label>
    <loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2016/elts/us-gaap-2016-01-31.xsd#us-gaap_StockholdersEquityIncludingPortionAttributableToNoncontrollingInterestAbstract" xlink:label="us-gaap_StockholdersEquityIncludingPortionAttributableToNoncontrollingInterestAbstract" xmlns="http://www.xbrl.org/2003/linkbase" />
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_StockholdersEquityIncludingPortionAttributableToNoncontrollingInterestAbstract" xlink:to="us-gaap_StockholdersEquityIncludingPortionAttributableToNoncontrollingInterestAbstract_lbl" xmlns="http://www.xbrl.org/2003/linkbase" />
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_StockholdersEquityIncludingPortionAttributableToNoncontrollingInterestAbstract_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase">EQUITY</label>
    <loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2016/elts/us-gaap-2016-01-31.xsd#us-gaap_StockholdersEquityAbstract" xlink:label="us-gaap_StockholdersEquityAbstract" xmlns="http://www.xbrl.org/2003/linkbase" />
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_StockholdersEquityAbstract" xlink:to="us-gaap_StockholdersEquityAbstract_lbl" xmlns="http://www.xbrl.org/2003/linkbase" />
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_StockholdersEquityAbstract_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase">Investors Real Estate Trust shareholders' equity</label>
    <loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2016/elts/us-gaap-2016-01-31.xsd#us-gaap_PreferredStockValue" xlink:label="us-gaap_PreferredStockValue" xmlns="http://www.xbrl.org/2003/linkbase" />
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_PreferredStockValue" xlink:to="us-gaap_PreferredStockValue_lbl" xmlns="http://www.xbrl.org/2003/linkbase" />
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_PreferredStockValue_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase">Preferred Stock, Value, Issued</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="us-gaap_PreferredStockValue_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase">Preferred Shares of Beneficial Interest (Cumulative redeemable preferred shares)</label>
    <loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2016/elts/us-gaap-2016-01-31.xsd#us-gaap_CommonStockValue" xlink:label="us-gaap_CommonStockValue" xmlns="http://www.xbrl.org/2003/linkbase" />
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_CommonStockValue" xlink:to="us-gaap_CommonStockValue_lbl" xmlns="http://www.xbrl.org/2003/linkbase" />
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_CommonStockValue_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase">Common Shares of Beneficial Interest (Unlimited authorization, no par value, 124,455,624 shares issued and outstanding at April 30, 2015, and 109,019,341 shares issued and outstanding at April 30, 2014)</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:label="us-gaap_CommonStockValue_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase">Common Shares of Beneficial Interest (Unlimited authorization, no par value, 121,199,299 shares issued and outstanding at April 30, 2017 and 121,091,249 shares issued and outstanding at April 30, 2016)</label>
    <loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2016/elts/us-gaap-2016-01-31.xsd#us-gaap_RetainedEarningsAccumulatedDeficit" xlink:label="us-gaap_RetainedEarningsAccumulatedDeficit" xmlns="http://www.xbrl.org/2003/linkbase" />
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_RetainedEarningsAccumulatedDeficit" xlink:to="us-gaap_RetainedEarningsAccumulatedDeficit_lbl" xmlns="http://www.xbrl.org/2003/linkbase" />
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_RetainedEarningsAccumulatedDeficit_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase">Accumulated distributions in excess of net income</label>
    <loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2016/elts/us-gaap-2016-01-31.xsd#us-gaap_StockholdersEquity" xlink:label="us-gaap_StockholdersEquity" xmlns="http://www.xbrl.org/2003/linkbase" />
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_StockholdersEquity" xlink:to="us-gaap_StockholdersEquity_lbl" xmlns="http://www.xbrl.org/2003/linkbase" />
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_StockholdersEquity_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase">Stockholders' Equity Attributable to Parent</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/totalLabel" xlink:label="us-gaap_StockholdersEquity_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase">Total Investors Real Estate Trust shareholders' equity</label>
    <loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2016/elts/us-gaap-2016-01-31.xsd#us-gaap_MinorityInterestInOperatingPartnerships" xlink:label="us-gaap_MinorityInterestInOperatingPartnerships" xmlns="http://www.xbrl.org/2003/linkbase" />
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_MinorityInterestInOperatingPartnerships" xlink:to="us-gaap_MinorityInterestInOperatingPartnerships_lbl" xmlns="http://www.xbrl.org/2003/linkbase" />
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_MinorityInterestInOperatingPartnerships_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase">Noncontrolling interests &#x2013; Operating Partnership (15,617,216 units at April 30, 2017 and 16,285,239 units at April 30, 2016)</label>
    <loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2016/elts/us-gaap-2016-01-31.xsd#us-gaap_MinorityInterestInPreferredUnitHolders" xlink:label="us-gaap_MinorityInterestInPreferredUnitHolders" xmlns="http://www.xbrl.org/2003/linkbase" />
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_MinorityInterestInPreferredUnitHolders" xlink:to="us-gaap_MinorityInterestInPreferredUnitHolders_lbl" xmlns="http://www.xbrl.org/2003/linkbase" />
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_MinorityInterestInPreferredUnitHolders_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase">Noncontrolling interests - Operating Partnership (13,999,725 units at April 30, 2015 and 21,093,445 units at April 30, 2014)</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:label="us-gaap_MinorityInterestInPreferredUnitHolders_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase">Noncontrolling interests - consolidated real estate entities</label>
    <loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2016/elts/us-gaap-2016-01-31.xsd#us-gaap_StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest" xlink:label="us-gaap_StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest" xmlns="http://www.xbrl.org/2003/linkbase" />
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest" xlink:to="us-gaap_StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest_lbl" xmlns="http://www.xbrl.org/2003/linkbase" />
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase">Stockholders' Equity, Including Portion Attributable to Noncontrolling Interest</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/periodEndLabel" xlink:label="us-gaap_StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase">Balance</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/periodStartLabel" xlink:label="us-gaap_StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase">Balance</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/totalLabel" xlink:label="us-gaap_StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase">Total equity</label>
    <loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2016/elts/us-gaap-2016-01-31.xsd#us-gaap_LiabilitiesAndStockholdersEquity" xlink:label="us-gaap_LiabilitiesAndStockholdersEquity" xmlns="http://www.xbrl.org/2003/linkbase" />
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_LiabilitiesAndStockholdersEquity" xlink:to="us-gaap_LiabilitiesAndStockholdersEquity_lbl" xmlns="http://www.xbrl.org/2003/linkbase" />
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_LiabilitiesAndStockholdersEquity_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase">Liabilities and Equity</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/totalLabel" xlink:label="us-gaap_LiabilitiesAndStockholdersEquity_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase">TOTAL LIABILITIES, REDEEMABLE NONCONTROLLING INTERESTS AND EQUITY</label>
    <loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2016/elts/us-gaap-2016-01-31.xsd#us-gaap_AccountsNotesLoansAndFinancingReceivableByReceivableTypeAxis" xlink:label="us-gaap_AccountsNotesLoansAndFinancingReceivableByReceivableTypeAxis" xmlns="http://www.xbrl.org/2003/linkbase" />
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_AccountsNotesLoansAndFinancingReceivableByReceivableTypeAxis" xlink:to="us-gaap_AccountsNotesLoansAndFinancingReceivableByReceivableTypeAxis_lbl" xmlns="http://www.xbrl.org/2003/linkbase" />
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_AccountsNotesLoansAndFinancingReceivableByReceivableTypeAxis_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase">Receivable Type [Axis]</label>
    <loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2016/elts/us-gaap-2016-01-31.xsd#us-gaap_ReceivableTypeDomain" xlink:label="us-gaap_ReceivableTypeDomain" xmlns="http://www.xbrl.org/2003/linkbase" />
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_ReceivableTypeDomain" xlink:to="us-gaap_ReceivableTypeDomain_lbl" xmlns="http://www.xbrl.org/2003/linkbase" />
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_ReceivableTypeDomain_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase">Receivable Type [Domain]</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="us-gaap_ReceivableTypeDomain_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase">Receivable [Domain]</label>
    <loc xlink:type="locator" xlink:href="iret-20170430.xsd#iret_StraightLineRentReceivableMember" xlink:label="iret_StraightLineRentReceivableMember" xmlns="http://www.xbrl.org/2003/linkbase" />
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="iret_StraightLineRentReceivableMember" xlink:to="iret_StraightLineRentReceivableMember_lbl" xmlns="http://www.xbrl.org/2003/linkbase" />
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="iret_StraightLineRentReceivableMember_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase">Refers to amount due from customers or clients arising from straight-line rent.</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="iret_StraightLineRentReceivableMember_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase">Straight Line Rent Receivable [Member]</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="iret_StraightLineRentReceivableMember_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase">Receivable Arising from Straight-Lining of Rents [Member]</label>
    <loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2016/elts/us-gaap-2016-01-31.xsd#us-gaap_TradeAccountsReceivableMember" xlink:label="us-gaap_TradeAccountsReceivableMember" xmlns="http://www.xbrl.org/2003/linkbase" />
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_TradeAccountsReceivableMember" xlink:to="us-gaap_TradeAccountsReceivableMember_lbl" xmlns="http://www.xbrl.org/2003/linkbase" />
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_TradeAccountsReceivableMember_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase">Trade Accounts Receivable [Member]</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="us-gaap_TradeAccountsReceivableMember_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase">Accounts Receivable [Member]</label>
    <loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2016/elts/us-gaap-2016-01-31.xsd#us-gaap_AllowanceForDoubtfulAccountsReceivable" xlink:label="us-gaap_AllowanceForDoubtfulAccountsReceivable" xmlns="http://www.xbrl.org/2003/linkbase" />
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_AllowanceForDoubtfulAccountsReceivable" xlink:to="us-gaap_AllowanceForDoubtfulAccountsReceivable_lbl" xmlns="http://www.xbrl.org/2003/linkbase" />
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_AllowanceForDoubtfulAccountsReceivable_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase">Allowance for doubtful accounts receivable</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/periodEndLabel" xlink:label="us-gaap_AllowanceForDoubtfulAccountsReceivable_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase">Balance at close of year</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/periodStartLabel" xlink:label="us-gaap_AllowanceForDoubtfulAccountsReceivable_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase">Balance at beginning of year</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="us-gaap_AllowanceForDoubtfulAccountsReceivable_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase">Accounts receivable, allowance</label>
    <loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2016/elts/us-gaap-2016-01-31.xsd#us-gaap_FiniteLivedIntangibleAssetsAccumulatedAmortization" xlink:label="us-gaap_FiniteLivedIntangibleAssetsAccumulatedAmortization" xmlns="http://www.xbrl.org/2003/linkbase" />
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_FiniteLivedIntangibleAssetsAccumulatedAmortization" xlink:to="us-gaap_FiniteLivedIntangibleAssetsAccumulatedAmortization_lbl" xmlns="http://www.xbrl.org/2003/linkbase" />
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_FiniteLivedIntangibleAssetsAccumulatedAmortization_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase">Intangible assets, accumulated amortization</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2009/role/negatedLabel" xlink:label="us-gaap_FiniteLivedIntangibleAssetsAccumulatedAmortization_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase">Accumulated amortization</label>
    <loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2016/elts/us-gaap-2016-01-31.xsd#us-gaap_AccumulatedDepreciationDepletionAndAmortizationPropertyPlantAndEquipment" xlink:label="us-gaap_AccumulatedDepreciationDepletionAndAmortizationPropertyPlantAndEquipment" xmlns="http://www.xbrl.org/2003/linkbase" />
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_AccumulatedDepreciationDepletionAndAmortizationPropertyPlantAndEquipment" xlink:to="us-gaap_AccumulatedDepreciationDepletionAndAmortizationPropertyPlantAndEquipment_lbl" xmlns="http://www.xbrl.org/2003/linkbase" />
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_AccumulatedDepreciationDepletionAndAmortizationPropertyPlantAndEquipment_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase">Property and equipment, accumulated depreciation</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="us-gaap_AccumulatedDepreciationDepletionAndAmortizationPropertyPlantAndEquipment_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase">Accumulated depreciation</label>
    <loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2016/elts/us-gaap-2016-01-31.xsd#us-gaap_DeferredCostsLeasingAccumulatedAmortization" xlink:label="us-gaap_DeferredCostsLeasingAccumulatedAmortization" xmlns="http://www.xbrl.org/2003/linkbase" />
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_DeferredCostsLeasingAccumulatedAmortization" xlink:to="us-gaap_DeferredCostsLeasingAccumulatedAmortization_lbl" xmlns="http://www.xbrl.org/2003/linkbase" />
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_DeferredCostsLeasingAccumulatedAmortization_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase">Deferred charges and leasing costs, accumulated amortization</label>
    <loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2016/elts/us-gaap-2016-01-31.xsd#us-gaap_DeferredFinanceCostsNet" xlink:label="us-gaap_DeferredFinanceCostsNet" xmlns="http://www.xbrl.org/2003/linkbase" />
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_DeferredFinanceCostsNet" xlink:to="us-gaap_DeferredFinanceCostsNet_lbl" xmlns="http://www.xbrl.org/2003/linkbase" />
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_DeferredFinanceCostsNet_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase">Deferred Finance Costs, Net</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="us-gaap_DeferredFinanceCostsNet_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase">Mortgages payable, loan costs</label>
    <loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2016/elts/us-gaap-2016-01-31.xsd#us-gaap_PreferredStockParOrStatedValuePerShare" xlink:label="us-gaap_PreferredStockParOrStatedValuePerShare" xmlns="http://www.xbrl.org/2003/linkbase" />
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_PreferredStockParOrStatedValuePerShare" xlink:to="us-gaap_PreferredStockParOrStatedValuePerShare_lbl" xmlns="http://www.xbrl.org/2003/linkbase" />
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_PreferredStockParOrStatedValuePerShare_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase">Preferred Shares of Beneficial Interest, par value (in dollars per share)</label>
    <loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2016/elts/us-gaap-2016-01-31.xsd#us-gaap_PreferredStockSharesIssued" xlink:label="us-gaap_PreferredStockSharesIssued" xmlns="http://www.xbrl.org/2003/linkbase" />
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_PreferredStockSharesIssued" xlink:to="us-gaap_PreferredStockSharesIssued_lbl" xmlns="http://www.xbrl.org/2003/linkbase" />
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_PreferredStockSharesIssued_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase">Preferred Shares of Beneficial Interest, shares issued (in shares)</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="us-gaap_PreferredStockSharesIssued_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase">Preferred shares issued (in shares)</label>
    <loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2016/elts/us-gaap-2016-01-31.xsd#us-gaap_PreferredStockSharesOutstanding" xlink:label="us-gaap_PreferredStockSharesOutstanding" xmlns="http://www.xbrl.org/2003/linkbase" />
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_PreferredStockSharesOutstanding" xlink:to="us-gaap_PreferredStockSharesOutstanding_lbl" xmlns="http://www.xbrl.org/2003/linkbase" />
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_PreferredStockSharesOutstanding_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase">Preferred Shares of Beneficial Interest, shares outstanding (in shares)</label>
    <loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2016/elts/us-gaap-2016-01-31.xsd#us-gaap_PreferredStockLiquidationPreferenceValue" xlink:label="us-gaap_PreferredStockLiquidationPreferenceValue" xmlns="http://www.xbrl.org/2003/linkbase" />
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_PreferredStockLiquidationPreferenceValue" xlink:to="us-gaap_PreferredStockLiquidationPreferenceValue_lbl" xmlns="http://www.xbrl.org/2003/linkbase" />
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_PreferredStockLiquidationPreferenceValue_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase">Preferred Stock, Liquidation Preference, Value</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="us-gaap_PreferredStockLiquidationPreferenceValue_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase">Preferred shares liquidation preference</label>
    <loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2016/elts/us-gaap-2016-01-31.xsd#us-gaap_CommonStockNoParValue" xlink:label="us-gaap_CommonStockNoParValue" xmlns="http://www.xbrl.org/2003/linkbase" />
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_CommonStockNoParValue" xlink:to="us-gaap_CommonStockNoParValue_lbl" xmlns="http://www.xbrl.org/2003/linkbase" />
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_CommonStockNoParValue_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase">Common Shares of Beneficial Interest, no par value (in dollars per share)</label>
    <loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2016/elts/us-gaap-2016-01-31.xsd#us-gaap_CommonStockSharesIssued" xlink:label="us-gaap_CommonStockSharesIssued" xmlns="http://www.xbrl.org/2003/linkbase" />
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_CommonStockSharesIssued" xlink:to="us-gaap_CommonStockSharesIssued_lbl" xmlns="http://www.xbrl.org/2003/linkbase" />
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_CommonStockSharesIssued_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase">Common Shares of Beneficial Interest, shares issued (in shares)</label>
    <loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2016/elts/us-gaap-2016-01-31.xsd#us-gaap_CommonStockSharesOutstanding" xlink:label="us-gaap_CommonStockSharesOutstanding" xmlns="http://www.xbrl.org/2003/linkbase" />
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_CommonStockSharesOutstanding" xlink:to="us-gaap_CommonStockSharesOutstanding_lbl" xmlns="http://www.xbrl.org/2003/linkbase" />
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_CommonStockSharesOutstanding_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase">Common Shares of Beneficial Interest, shares outstanding (in shares)</label>
    <loc xlink:type="locator" xlink:href="iret-20170430.xsd#iret_NoncontrollingInterestsOperatingPartnershipUnits" xlink:label="iret_NoncontrollingInterestsOperatingPartnershipUnits" xmlns="http://www.xbrl.org/2003/linkbase" />
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="iret_NoncontrollingInterestsOperatingPartnershipUnits" xlink:to="iret_NoncontrollingInterestsOperatingPartnershipUnits_lbl" xmlns="http://www.xbrl.org/2003/linkbase" />
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="iret_NoncontrollingInterestsOperatingPartnershipUnits_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase">Number of partnership units held by noncontrolling interests as of the balance sheet date.</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="iret_NoncontrollingInterestsOperatingPartnershipUnits_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase">Noncontrolling Interests Operating Partnership Units</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="iret_NoncontrollingInterestsOperatingPartnershipUnits_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase">Noncontrolling interests - Operating Partnership (in shares)</label>
    <loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2016/elts/us-gaap-2016-01-31.xsd#us-gaap_IncomeStatementAbstract" xlink:label="us-gaap_IncomeStatementAbstract" xmlns="http://www.xbrl.org/2003/linkbase" />
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_IncomeStatementAbstract" xlink:to="us-gaap_IncomeStatementAbstract_lbl" xmlns="http://www.xbrl.org/2003/linkbase" />
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_IncomeStatementAbstract_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase">CONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS [Abstract]</label>
    <loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2016/elts/us-gaap-2016-01-31.xsd#us-gaap_RevenuesAbstract" xlink:label="us-gaap_RevenuesAbstract" xmlns="http://www.xbrl.org/2003/linkbase" />
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_RevenuesAbstract" xlink:to="us-gaap_RevenuesAbstract_lbl" xmlns="http://www.xbrl.org/2003/linkbase" />
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_RevenuesAbstract_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase">REVENUE</label>
    <loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2016/elts/us-gaap-2016-01-31.xsd#us-gaap_OperatingLeasesIncomeStatementLeaseRevenue" xlink:label="us-gaap_OperatingLeasesIncomeStatementLeaseRevenue" xmlns="http://www.xbrl.org/2003/linkbase" />
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_OperatingLeasesIncomeStatementLeaseRevenue" xlink:to="us-gaap_OperatingLeasesIncomeStatementLeaseRevenue_lbl" xmlns="http://www.xbrl.org/2003/linkbase" />
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_OperatingLeasesIncomeStatementLeaseRevenue_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase">Real estate rentals</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="us-gaap_OperatingLeasesIncomeStatementLeaseRevenue_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase">Total gross rental revenue from properties subject to purchase options</label>
    <loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2016/elts/us-gaap-2016-01-31.xsd#us-gaap_TenantReimbursements" xlink:label="us-gaap_TenantReimbursements" xmlns="http://www.xbrl.org/2003/linkbase" />
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_TenantReimbursements" xlink:to="us-gaap_TenantReimbursements_lbl" xmlns="http://www.xbrl.org/2003/linkbase" />
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_TenantReimbursements_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase">Tenant reimbursement</label>
    <loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2016/elts/us-gaap-2016-01-31.xsd#us-gaap_RealEstateRevenueNet" xlink:label="us-gaap_RealEstateRevenueNet" xmlns="http://www.xbrl.org/2003/linkbase" />
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_RealEstateRevenueNet" xlink:to="us-gaap_RealEstateRevenueNet_lbl" xmlns="http://www.xbrl.org/2003/linkbase" />
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_RealEstateRevenueNet_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase">Real Estate Revenue, Net</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/totalLabel" xlink:label="us-gaap_RealEstateRevenueNet_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase">TOTAL REVENUE</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:label="us-gaap_RealEstateRevenueNet_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase">Revenues</label>
    <loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2016/elts/us-gaap-2016-01-31.xsd#us-gaap_CostsAndExpensesAbstract" xlink:label="us-gaap_CostsAndExpensesAbstract" xmlns="http://www.xbrl.org/2003/linkbase" />
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_CostsAndExpensesAbstract" xlink:to="us-gaap_CostsAndExpensesAbstract_lbl" xmlns="http://www.xbrl.org/2003/linkbase" />
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_CostsAndExpensesAbstract_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase">EXPENSES</label>
    <loc xlink:type="locator" xlink:href="iret-20170430.xsd#iret_PropertyOperatingExpensesExcludingRealEstateTaxes" xlink:label="iret_PropertyOperatingExpensesExcludingRealEstateTaxes" xmlns="http://www.xbrl.org/2003/linkbase" />
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="iret_PropertyOperatingExpensesExcludingRealEstateTaxes" xlink:to="iret_PropertyOperatingExpensesExcludingRealEstateTaxes_lbl" xmlns="http://www.xbrl.org/2003/linkbase" />
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="iret_PropertyOperatingExpensesExcludingRealEstateTaxes_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase">Operating costs relating to properties incurred during the reporting period but excluding real estate taxes.</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="iret_PropertyOperatingExpensesExcludingRealEstateTaxes_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase">Property Operating Expenses Excluding Real Estate Taxes</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="iret_PropertyOperatingExpensesExcludingRealEstateTaxes_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase">Property operating expenses, excluding real estate taxes</label>
    <loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2016/elts/us-gaap-2016-01-31.xsd#us-gaap_RealEstateTaxExpense" xlink:label="us-gaap_RealEstateTaxExpense" xmlns="http://www.xbrl.org/2003/linkbase" />
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_RealEstateTaxExpense" xlink:to="us-gaap_RealEstateTaxExpense_lbl" xmlns="http://www.xbrl.org/2003/linkbase" />
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_RealEstateTaxExpense_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase">Real estate taxes</label>
    <loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2016/elts/us-gaap-2016-01-31.xsd#us-gaap_DepreciationAndAmortization" xlink:label="us-gaap_DepreciationAndAmortization" xmlns="http://www.xbrl.org/2003/linkbase" />
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_DepreciationAndAmortization" xlink:to="us-gaap_DepreciationAndAmortization_lbl" xmlns="http://www.xbrl.org/2003/linkbase" />
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_DepreciationAndAmortization_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase">Depreciation, Depletion and Amortization, Nonproduction</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="us-gaap_DepreciationAndAmortization_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase">Depreciation and amortization</label>
    <loc xlink:type="locator" xlink:href="iret-20170430.xsd#iret_ImpairmentOfRealEstateContinuingOperations" xlink:label="iret_ImpairmentOfRealEstateContinuingOperations" xmlns="http://www.xbrl.org/2003/linkbase" />
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="iret_ImpairmentOfRealEstateContinuingOperations" xlink:to="iret_ImpairmentOfRealEstateContinuingOperations_lbl" xmlns="http://www.xbrl.org/2003/linkbase" />
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="iret_ImpairmentOfRealEstateContinuingOperations_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase">The charge against earnings in the period to reduce the carrying amount of real property relating to continuing operations to fair value.</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="iret_ImpairmentOfRealEstateContinuingOperations_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase">Impairment of Real Estate, Continuing Operations</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="iret_ImpairmentOfRealEstateContinuingOperations_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase">Impairment of real estate investments</label>
    <loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2016/elts/us-gaap-2016-01-31.xsd#us-gaap_GeneralAndAdministrativeExpense" xlink:label="us-gaap_GeneralAndAdministrativeExpense" xmlns="http://www.xbrl.org/2003/linkbase" />
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_GeneralAndAdministrativeExpense" xlink:to="us-gaap_GeneralAndAdministrativeExpense_lbl" xmlns="http://www.xbrl.org/2003/linkbase" />
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_GeneralAndAdministrativeExpense_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase">General and administrative expenses</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2009/role/negatedLabel" xlink:label="us-gaap_GeneralAndAdministrativeExpense_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase">General and administrative expenses</label>
    <loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2016/elts/us-gaap-2016-01-31.xsd#us-gaap_BusinessCombinationAcquisitionRelatedCosts" xlink:label="us-gaap_BusinessCombinationAcquisitionRelatedCosts" xmlns="http://www.xbrl.org/2003/linkbase" />
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_BusinessCombinationAcquisitionRelatedCosts" xlink:to="us-gaap_BusinessCombinationAcquisitionRelatedCosts_lbl" xmlns="http://www.xbrl.org/2003/linkbase" />
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_BusinessCombinationAcquisitionRelatedCosts_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase">Business Combination, Acquisition Related Costs</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="us-gaap_BusinessCombinationAcquisitionRelatedCosts_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase">Acquisition and investment related costs</label>
    <loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2016/elts/us-gaap-2016-01-31.xsd#us-gaap_OtherGeneralExpense" xlink:label="us-gaap_OtherGeneralExpense" xmlns="http://www.xbrl.org/2003/linkbase" />
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_OtherGeneralExpense" xlink:to="us-gaap_OtherGeneralExpense_lbl" xmlns="http://www.xbrl.org/2003/linkbase" />
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_OtherGeneralExpense_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase">Other expenses</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2009/role/negatedLabel" xlink:label="us-gaap_OtherGeneralExpense_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase">Other expenses</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="us-gaap_OtherGeneralExpense_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase">Other expenses</label>
    <loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2016/elts/us-gaap-2016-01-31.xsd#us-gaap_CostsAndExpenses" xlink:label="us-gaap_CostsAndExpenses" xmlns="http://www.xbrl.org/2003/linkbase" />
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_CostsAndExpenses" xlink:to="us-gaap_CostsAndExpenses_lbl" xmlns="http://www.xbrl.org/2003/linkbase" />
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_CostsAndExpenses_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase">Costs and Expenses</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/totalLabel" xlink:label="us-gaap_CostsAndExpenses_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase">TOTAL EXPENSES</label>
    <loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2016/elts/us-gaap-2016-01-31.xsd#us-gaap_OperatingIncomeLoss" xlink:label="us-gaap_OperatingIncomeLoss" xmlns="http://www.xbrl.org/2003/linkbase" />
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_OperatingIncomeLoss" xlink:to="us-gaap_OperatingIncomeLoss_lbl" xmlns="http://www.xbrl.org/2003/linkbase" />
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_OperatingIncomeLoss_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase">Operating Income (Loss)</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/totalLabel" xlink:label="us-gaap_OperatingIncomeLoss_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase">Operating (loss) income</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:label="us-gaap_OperatingIncomeLoss_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase">Operating income (loss)</label>
    <loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2016/elts/us-gaap-2016-01-31.xsd#us-gaap_InterestExpense" xlink:label="us-gaap_InterestExpense" xmlns="http://www.xbrl.org/2003/linkbase" />
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_InterestExpense" xlink:to="us-gaap_InterestExpense_lbl" xmlns="http://www.xbrl.org/2003/linkbase" />
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_InterestExpense_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase">Interest Expense</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2009/role/negatedLabel" xlink:label="us-gaap_InterestExpense_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase">Interest expense</label>
    <loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2016/elts/us-gaap-2016-01-31.xsd#us-gaap_GainsLossesOnExtinguishmentOfDebt" xlink:label="us-gaap_GainsLossesOnExtinguishmentOfDebt" xmlns="http://www.xbrl.org/2003/linkbase" />
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_GainsLossesOnExtinguishmentOfDebt" xlink:to="us-gaap_GainsLossesOnExtinguishmentOfDebt_lbl" xmlns="http://www.xbrl.org/2003/linkbase" />
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_GainsLossesOnExtinguishmentOfDebt_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase">Gains (Losses) on Extinguishment of Debt</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="us-gaap_GainsLossesOnExtinguishmentOfDebt_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase">Loss on extinguishment of debt</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:label="us-gaap_GainsLossesOnExtinguishmentOfDebt_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase">Gain/loss on extinguishment of debt</label>
    <loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2016/elts/us-gaap-2016-01-31.xsd#us-gaap_InvestmentIncomeInterest" xlink:label="us-gaap_InvestmentIncomeInterest" xmlns="http://www.xbrl.org/2003/linkbase" />
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_InvestmentIncomeInterest" xlink:to="us-gaap_InvestmentIncomeInterest_lbl" xmlns="http://www.xbrl.org/2003/linkbase" />
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_InvestmentIncomeInterest_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase">Interest income</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="us-gaap_InvestmentIncomeInterest_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase">Interest income</label>
    <loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2016/elts/us-gaap-2016-01-31.xsd#us-gaap_OtherNonoperatingIncomeExpense" xlink:label="us-gaap_OtherNonoperatingIncomeExpense" xmlns="http://www.xbrl.org/2003/linkbase" />
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_OtherNonoperatingIncomeExpense" xlink:to="us-gaap_OtherNonoperatingIncomeExpense_lbl" xmlns="http://www.xbrl.org/2003/linkbase" />
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_OtherNonoperatingIncomeExpense_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase">Other income</label>
    <loc xlink:type="locator" xlink:href="iret-20170430.xsd#iret_IncomeLossBeforeGainLossOnSaleOfRealEstateAndOtherInvestmentsAndIncomeLossFromDiscontinuedOperations" xlink:label="iret_IncomeLossBeforeGainLossOnSaleOfRealEstateAndOtherInvestmentsAndIncomeLossFromDiscontinuedOperations" xmlns="http://www.xbrl.org/2003/linkbase" />
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="iret_IncomeLossBeforeGainLossOnSaleOfRealEstateAndOtherInvestmentsAndIncomeLossFromDiscontinuedOperations" xlink:to="iret_IncomeLossBeforeGainLossOnSaleOfRealEstateAndOtherInvestmentsAndIncomeLossFromDiscontinuedOperations_lbl" xmlns="http://www.xbrl.org/2003/linkbase" />
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="iret_IncomeLossBeforeGainLossOnSaleOfRealEstateAndOtherInvestmentsAndIncomeLossFromDiscontinuedOperations_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase">This element represents the income (loss) before the gain (loss) on the sale of real estate and other investments and the income (loss) from discontinued operations.</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="iret_IncomeLossBeforeGainLossOnSaleOfRealEstateAndOtherInvestmentsAndIncomeLossFromDiscontinuedOperations_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase">Income (loss) before gain (loss) on sale of real estate and other investments and income (loss) from discontinued operations</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="iret_IncomeLossBeforeGainLossOnSaleOfRealEstateAndOtherInvestmentsAndIncomeLossFromDiscontinuedOperations_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase">Income before gain on sale of real estate and other investments, gain on bargain purchase and income from discontinued operations</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/totalLabel" xlink:label="iret_IncomeLossBeforeGainLossOnSaleOfRealEstateAndOtherInvestmentsAndIncomeLossFromDiscontinuedOperations_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase">(Loss) income before gain on sale of real estate and other investments, gain on bargain purchase and income from discontinued operations</label>
    <loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2016/elts/us-gaap-2016-01-31.xsd#us-gaap_GainLossOnSaleOfPropertiesBeforeApplicableIncomeTaxes" xlink:label="us-gaap_GainLossOnSaleOfPropertiesBeforeApplicableIncomeTaxes" xmlns="http://www.xbrl.org/2003/linkbase" />
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_GainLossOnSaleOfPropertiesBeforeApplicableIncomeTaxes" xlink:to="us-gaap_GainLossOnSaleOfPropertiesBeforeApplicableIncomeTaxes_lbl" xmlns="http://www.xbrl.org/2003/linkbase" />
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_GainLossOnSaleOfPropertiesBeforeApplicableIncomeTaxes_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase">Gain on sale of real estate and other investments</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="us-gaap_GainLossOnSaleOfPropertiesBeforeApplicableIncomeTaxes_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase">Gain (loss) on sale of real estate and other investments</label>
    <loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2016/elts/us-gaap-2016-01-31.xsd#us-gaap_BusinessCombinationBargainPurchaseGainRecognizedAmount" xlink:label="us-gaap_BusinessCombinationBargainPurchaseGainRecognizedAmount" xmlns="http://www.xbrl.org/2003/linkbase" />
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_BusinessCombinationBargainPurchaseGainRecognizedAmount" xlink:to="us-gaap_BusinessCombinationBargainPurchaseGainRecognizedAmount_lbl" xmlns="http://www.xbrl.org/2003/linkbase" />
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_BusinessCombinationBargainPurchaseGainRecognizedAmount_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase">Business Combination, Bargain Purchase, Gain Recognized, Amount</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2009/role/negatedLabel" xlink:label="us-gaap_BusinessCombinationBargainPurchaseGainRecognizedAmount_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase">Gain on bargain purchase</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="us-gaap_BusinessCombinationBargainPurchaseGainRecognizedAmount_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase">Gain on bargain purchase</label>
    <loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2016/elts/us-gaap-2016-01-31.xsd#us-gaap_IncomeLossFromContinuingOperationsIncludingPortionAttributableToNoncontrollingInterest" xlink:label="us-gaap_IncomeLossFromContinuingOperationsIncludingPortionAttributableToNoncontrollingInterest" xmlns="http://www.xbrl.org/2003/linkbase" />
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_IncomeLossFromContinuingOperationsIncludingPortionAttributableToNoncontrollingInterest" xlink:to="us-gaap_IncomeLossFromContinuingOperationsIncludingPortionAttributableToNoncontrollingInterest_lbl" xmlns="http://www.xbrl.org/2003/linkbase" />
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_IncomeLossFromContinuingOperationsIncludingPortionAttributableToNoncontrollingInterest_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase">Income (Loss) from Continuing Operations, Including Portion Attributable to Noncontrolling Interest</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="us-gaap_IncomeLossFromContinuingOperationsIncludingPortionAttributableToNoncontrollingInterest_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase">Income from continuing operations</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/totalLabel" xlink:label="us-gaap_IncomeLossFromContinuingOperationsIncludingPortionAttributableToNoncontrollingInterest_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase">(Loss) income from continuing operations</label>
    <loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2016/elts/us-gaap-2016-01-31.xsd#us-gaap_IncomeLossFromDiscontinuedOperationsNetOfTax" xlink:label="us-gaap_IncomeLossFromDiscontinuedOperationsNetOfTax" xmlns="http://www.xbrl.org/2003/linkbase" />
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_IncomeLossFromDiscontinuedOperationsNetOfTax" xlink:to="us-gaap_IncomeLossFromDiscontinuedOperationsNetOfTax_lbl" xmlns="http://www.xbrl.org/2003/linkbase" />
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_IncomeLossFromDiscontinuedOperationsNetOfTax_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase">Income from discontinued operations</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/negativeLabel" xlink:label="us-gaap_IncomeLossFromDiscontinuedOperationsNetOfTax_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase">Income (loss) from discontinued operations</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="us-gaap_IncomeLossFromDiscontinuedOperationsNetOfTax_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase">Income from discontinued operations</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/totalLabel" xlink:label="us-gaap_IncomeLossFromDiscontinuedOperationsNetOfTax_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase">INCOME FROM DISCONTINUED OPERATIONS</label>
    <loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2016/elts/us-gaap-2016-01-31.xsd#us-gaap_ProfitLoss" xlink:label="us-gaap_ProfitLoss" xmlns="http://www.xbrl.org/2003/linkbase" />
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_ProfitLoss" xlink:to="us-gaap_ProfitLoss_lbl" xmlns="http://www.xbrl.org/2003/linkbase" />
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_ProfitLoss_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase">Net income (loss)</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/totalLabel" xlink:label="us-gaap_ProfitLoss_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase">NET INCOME</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:label="us-gaap_ProfitLoss_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase">Net income</label>
    <loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2016/elts/us-gaap-2016-01-31.xsd#us-gaap_NoncontrollingInterestInNetIncomeLossOperatingPartnershipsNonredeemable" xlink:label="us-gaap_NoncontrollingInterestInNetIncomeLossOperatingPartnershipsNonredeemable" xmlns="http://www.xbrl.org/2003/linkbase" />
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_NoncontrollingInterestInNetIncomeLossOperatingPartnershipsNonredeemable" xlink:to="us-gaap_NoncontrollingInterestInNetIncomeLossOperatingPartnershipsNonredeemable_lbl" xmlns="http://www.xbrl.org/2003/linkbase" />
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_NoncontrollingInterestInNetIncomeLossOperatingPartnershipsNonredeemable_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase">Noncontrolling Interest in Net Income (Loss) Operating Partnerships, Nonredeemable</label>
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    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_NetIncomeLossAvailableToCommonStockholdersBasic" xlink:to="us-gaap_NetIncomeLossAvailableToCommonStockholdersBasic_lbl" xmlns="http://www.xbrl.org/2003/linkbase" />
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    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="us-gaap_NetIncomeLossAvailableToCommonStockholdersBasic_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase">Net income (loss) available to common shareholders</label>
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    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_IncomeLossFromContinuingOperationsPerBasicAndDilutedShare_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase">(Loss) earnings per common share from continuing operations &#x2013; Investors Real Estate Trust &#x2013; basic and diluted</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="us-gaap_IncomeLossFromContinuingOperationsPerBasicAndDilutedShare_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase">(Loss) earnings per common share from continuing operations - Investors Real Estate Trust - basic and diluted (in dollars per share)</label>
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    <loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2016/elts/us-gaap-2016-01-31.xsd#us-gaap_IncomeLossFromDiscontinuedOperationsNetOfTaxPerBasicAndDilutedShare" xlink:label="us-gaap_IncomeLossFromDiscontinuedOperationsNetOfTaxPerBasicAndDilutedShare" xmlns="http://www.xbrl.org/2003/linkbase" />
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_IncomeLossFromDiscontinuedOperationsNetOfTaxPerBasicAndDilutedShare" xlink:to="us-gaap_IncomeLossFromDiscontinuedOperationsNetOfTaxPerBasicAndDilutedShare_lbl" xmlns="http://www.xbrl.org/2003/linkbase" />
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    <loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2016/elts/us-gaap-2016-01-31.xsd#us-gaap_EarningsPerShareBasicAndDiluted" xlink:label="us-gaap_EarningsPerShareBasicAndDiluted" xmlns="http://www.xbrl.org/2003/linkbase" />
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_EarningsPerShareBasicAndDiluted" xlink:to="us-gaap_EarningsPerShareBasicAndDiluted_lbl" xmlns="http://www.xbrl.org/2003/linkbase" />
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_EarningsPerShareBasicAndDiluted_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase">Earnings Per Share, Basic and Diluted</label>
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    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:label="us-gaap_EarningsPerShareBasicAndDiluted_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase">Net income (loss) per common share - basic &amp; diluted (in dollars per share)</label>
    <loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2016/elts/us-gaap-2016-01-31.xsd#us-gaap_StatementOfStockholdersEquityAbstract" xlink:label="us-gaap_StatementOfStockholdersEquityAbstract" xmlns="http://www.xbrl.org/2003/linkbase" />
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    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_StatementOfStockholdersEquityAbstract_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase">CONDENSED CONSOLIDATED STATEMENTS OF EQUITY [Abstract]</label>
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    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_EquityComponentDomain" xlink:to="us-gaap_EquityComponentDomain_lbl" xmlns="http://www.xbrl.org/2003/linkbase" />
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    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_PreferredStockMember" xlink:to="us-gaap_PreferredStockMember_lbl" xmlns="http://www.xbrl.org/2003/linkbase" />
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_PreferredStockMember_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase">Preferred Stock [Member]</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="us-gaap_PreferredStockMember_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase">PREFERRED SHARES [Member]</label>
    <loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2016/elts/us-gaap-2016-01-31.xsd#us-gaap_CommonStockMember" xlink:label="us-gaap_CommonStockMember" xmlns="http://www.xbrl.org/2003/linkbase" />
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    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="us-gaap_CommonStockMember_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase">Common Shares and Limited Partnership Units [Member]</label>
    <loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2016/elts/us-gaap-2016-01-31.xsd#us-gaap_RetainedEarningsMember" xlink:label="us-gaap_RetainedEarningsMember" xmlns="http://www.xbrl.org/2003/linkbase" />
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    <loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2016/elts/us-gaap-2016-01-31.xsd#us-gaap_IncomeLossIncludingPortionAttributableToNoncontrollingInterest" xlink:label="us-gaap_IncomeLossIncludingPortionAttributableToNoncontrollingInterest" xmlns="http://www.xbrl.org/2003/linkbase" />
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    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_StockIssuedDuringPeriodValueDividendReinvestmentPlan_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase">Stock Issued During Period, Value, Dividend Reinvestment Plan</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="us-gaap_StockIssuedDuringPeriodValueDividendReinvestmentPlan_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase">Distribution reinvestment and share purchase plan</label>
    <loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2016/elts/us-gaap-2016-01-31.xsd#us-gaap_StockIssuedDuringPeriodSharesDividendReinvestmentPlan" xlink:label="us-gaap_StockIssuedDuringPeriodSharesDividendReinvestmentPlan" xmlns="http://www.xbrl.org/2003/linkbase" />
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_StockIssuedDuringPeriodSharesDividendReinvestmentPlan" xlink:to="us-gaap_StockIssuedDuringPeriodSharesDividendReinvestmentPlan_lbl" xmlns="http://www.xbrl.org/2003/linkbase" />
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_StockIssuedDuringPeriodSharesDividendReinvestmentPlan_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase">Distribution reinvestment and share purchase plan (in shares)</label>
    <loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2016/elts/us-gaap-2016-01-31.xsd#us-gaap_StockIssuedDuringPeriodValueRestrictedStockAwardNetOfForfeitures" xlink:label="us-gaap_StockIssuedDuringPeriodValueRestrictedStockAwardNetOfForfeitures" xmlns="http://www.xbrl.org/2003/linkbase" />
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_StockIssuedDuringPeriodValueRestrictedStockAwardNetOfForfeitures" xlink:to="us-gaap_StockIssuedDuringPeriodValueRestrictedStockAwardNetOfForfeitures_lbl" xmlns="http://www.xbrl.org/2003/linkbase" />
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_StockIssuedDuringPeriodValueRestrictedStockAwardNetOfForfeitures_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase">Shares issued and share-based compensation</label>
    <loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2016/elts/us-gaap-2016-01-31.xsd#us-gaap_StockIssuedDuringPeriodSharesRestrictedStockAwardNetOfForfeitures" xlink:label="us-gaap_StockIssuedDuringPeriodSharesRestrictedStockAwardNetOfForfeitures" xmlns="http://www.xbrl.org/2003/linkbase" />
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_StockIssuedDuringPeriodSharesRestrictedStockAwardNetOfForfeitures" xlink:to="us-gaap_StockIssuedDuringPeriodSharesRestrictedStockAwardNetOfForfeitures_lbl" xmlns="http://www.xbrl.org/2003/linkbase" />
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_StockIssuedDuringPeriodSharesRestrictedStockAwardNetOfForfeitures_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase">Stock Issued During Period, Shares, Restricted Stock Award, Net of Forfeitures</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:label="us-gaap_StockIssuedDuringPeriodSharesRestrictedStockAwardNetOfForfeitures_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase">Shares issued and share-based compensation (in shares)</label>
    <loc xlink:type="locator" xlink:href="iret-20170430.xsd#iret_PartnershipUnitsIssued" xlink:label="iret_PartnershipUnitsIssued" xmlns="http://www.xbrl.org/2003/linkbase" />
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="iret_PartnershipUnitsIssued" xlink:to="iret_PartnershipUnitsIssued_lbl" xmlns="http://www.xbrl.org/2003/linkbase" />
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="iret_PartnershipUnitsIssued_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase">The value of partnership units issued during the period.</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="iret_PartnershipUnitsIssued_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase">Partnership Units Issued</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="iret_PartnershipUnitsIssued_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase">Partnership units issued</label>
    <loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2016/elts/us-gaap-2016-01-31.xsd#us-gaap_PartnersCapitalAccountRedemptions" xlink:label="us-gaap_PartnersCapitalAccountRedemptions" xmlns="http://www.xbrl.org/2003/linkbase" />
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_PartnersCapitalAccountRedemptions" xlink:to="us-gaap_PartnersCapitalAccountRedemptions_lbl" xmlns="http://www.xbrl.org/2003/linkbase" />
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_PartnersCapitalAccountRedemptions_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase">Partners' Capital Account, Redemptions</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2009/role/negatedLabel" xlink:label="us-gaap_PartnersCapitalAccountRedemptions_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase">Redemption of units for common shares</label>
    <loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2016/elts/us-gaap-2016-01-31.xsd#us-gaap_PartnersCapitalAccountUnitsRedeemed" xlink:label="us-gaap_PartnersCapitalAccountUnitsRedeemed" xmlns="http://www.xbrl.org/2003/linkbase" />
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_PartnersCapitalAccountUnitsRedeemed" xlink:to="us-gaap_PartnersCapitalAccountUnitsRedeemed_lbl" xmlns="http://www.xbrl.org/2003/linkbase" />
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_PartnersCapitalAccountUnitsRedeemed_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase">Redemption of units for common shares (in shares)</label>
    <loc xlink:type="locator" xlink:href="iret-20170430.xsd#iret_PartnersCapitalAccountCashRedemptions" xlink:label="iret_PartnersCapitalAccountCashRedemptions" xmlns="http://www.xbrl.org/2003/linkbase" />
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="iret_PartnersCapitalAccountCashRedemptions" xlink:to="iret_PartnersCapitalAccountCashRedemptions_lbl" xmlns="http://www.xbrl.org/2003/linkbase" />
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="iret_PartnersCapitalAccountCashRedemptions_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase">Total change in each class of partners' capital accounts during the year due to redemptions for cash. All partners include general, limited and preferred partners.</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="iret_PartnersCapitalAccountCashRedemptions_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase">Partners Capital Account Cash Redemptions</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2009/role/negatedLabel" xlink:label="iret_PartnersCapitalAccountCashRedemptions_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase">Redemption of units for cash</label>
    <loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2016/elts/us-gaap-2016-01-31.xsd#us-gaap_StockRepurchasedDuringPeriodValue" xlink:label="us-gaap_StockRepurchasedDuringPeriodValue" xmlns="http://www.xbrl.org/2003/linkbase" />
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_StockRepurchasedDuringPeriodValue" xlink:to="us-gaap_StockRepurchasedDuringPeriodValue_lbl" xmlns="http://www.xbrl.org/2003/linkbase" />
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_StockRepurchasedDuringPeriodValue_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase">Stock Repurchased During Period, Value</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2009/role/negatedLabel" xlink:label="us-gaap_StockRepurchasedDuringPeriodValue_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase">Shares repurchased</label>
    <loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2016/elts/us-gaap-2016-01-31.xsd#us-gaap_StockRepurchasedDuringPeriodShares" xlink:label="us-gaap_StockRepurchasedDuringPeriodShares" xmlns="http://www.xbrl.org/2003/linkbase" />
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_StockRepurchasedDuringPeriodShares" xlink:to="us-gaap_StockRepurchasedDuringPeriodShares_lbl" xmlns="http://www.xbrl.org/2003/linkbase" />
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_StockRepurchasedDuringPeriodShares_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase">Stock Repurchased During Period, Shares</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2009/role/negatedLabel" xlink:label="us-gaap_StockRepurchasedDuringPeriodShares_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase">Shares repurchased (in shares)</label>
    <loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2016/elts/us-gaap-2016-01-31.xsd#us-gaap_NoncontrollingInterestIncreaseFromSubsidiaryEquityIssuance" xlink:label="us-gaap_NoncontrollingInterestIncreaseFromSubsidiaryEquityIssuance" xmlns="http://www.xbrl.org/2003/linkbase" />
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_NoncontrollingInterestIncreaseFromSubsidiaryEquityIssuance" xlink:to="us-gaap_NoncontrollingInterestIncreaseFromSubsidiaryEquityIssuance_lbl" xmlns="http://www.xbrl.org/2003/linkbase" />
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_NoncontrollingInterestIncreaseFromSubsidiaryEquityIssuance_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase">Contributions from nonredeemable noncontrolling interests - consolidated real estate entities</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="us-gaap_NoncontrollingInterestIncreaseFromSubsidiaryEquityIssuance_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase">Contributions</label>
    <loc xlink:type="locator" xlink:href="iret-20170430.xsd#iret_NoncontrollingInterestDecreaseFromDistributionsToConsolidatedRealEstateEntitiesNoncontrollingInterestHolders" xlink:label="iret_NoncontrollingInterestDecreaseFromDistributionsToConsolidatedRealEstateEntitiesNoncontrollingInterestHolders" xmlns="http://www.xbrl.org/2003/linkbase" />
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="iret_NoncontrollingInterestDecreaseFromDistributionsToConsolidatedRealEstateEntitiesNoncontrollingInterestHolders" xlink:to="iret_NoncontrollingInterestDecreaseFromDistributionsToConsolidatedRealEstateEntitiesNoncontrollingInterestHolders_lbl" xmlns="http://www.xbrl.org/2003/linkbase" />
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="iret_NoncontrollingInterestDecreaseFromDistributionsToConsolidatedRealEstateEntitiesNoncontrollingInterestHolders_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase">Decrease in noncontrolling interest balance from payment of dividends or other distributions by the non-wholly owned subsidiary or partially owned entity, included in the consolidation of the parent entity, to the consolidated real estate entities noncontrolling interest holders.</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="iret_NoncontrollingInterestDecreaseFromDistributionsToConsolidatedRealEstateEntitiesNoncontrollingInterestHolders_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase">Noncontrolling Interest, Decrease from Distributions to Consolidated Real Estate Entities Noncontrolling Interest Holders</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2009/role/negatedLabel" xlink:label="iret_NoncontrollingInterestDecreaseFromDistributionsToConsolidatedRealEstateEntitiesNoncontrollingInterestHolders_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase">Distributions to nonredeemable noncontrolling interests - consolidated real estate entities</label>
    <loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2016/elts/us-gaap-2016-01-31.xsd#us-gaap_MinorityInterestDecreaseFromRedemptions" xlink:label="us-gaap_MinorityInterestDecreaseFromRedemptions" xmlns="http://www.xbrl.org/2003/linkbase" />
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_MinorityInterestDecreaseFromRedemptions" xlink:to="us-gaap_MinorityInterestDecreaseFromRedemptions_lbl" xmlns="http://www.xbrl.org/2003/linkbase" />
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_MinorityInterestDecreaseFromRedemptions_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase">Noncontrolling Interest, Decrease from Redemptions or Purchase of Interests</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2009/role/negatedLabel" xlink:label="us-gaap_MinorityInterestDecreaseFromRedemptions_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase">Conversion of to equity of notes receivable from nonredeemable noncontrolling interests &#x2013; consolidated real estate entities</label>
    <loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2016/elts/us-gaap-2016-01-31.xsd#us-gaap_NoncontrollingInterestDecreaseFromDeconsolidation" xlink:label="us-gaap_NoncontrollingInterestDecreaseFromDeconsolidation" xmlns="http://www.xbrl.org/2003/linkbase" />
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_NoncontrollingInterestDecreaseFromDeconsolidation" xlink:to="us-gaap_NoncontrollingInterestDecreaseFromDeconsolidation_lbl" xmlns="http://www.xbrl.org/2003/linkbase" />
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_NoncontrollingInterestDecreaseFromDeconsolidation_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase">Noncontrolling Interest, Decrease from Deconsolidation</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2009/role/negatedLabel" xlink:label="us-gaap_NoncontrollingInterestDecreaseFromDeconsolidation_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase">Acquisition of nonredeemable noncontrolling interests &#x2013; consolidated real estate entities</label>
    <loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2016/elts/us-gaap-2016-01-31.xsd#us-gaap_StockholdersEquityOther" xlink:label="us-gaap_StockholdersEquityOther" xmlns="http://www.xbrl.org/2003/linkbase" />
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_StockholdersEquityOther" xlink:to="us-gaap_StockholdersEquityOther_lbl" xmlns="http://www.xbrl.org/2003/linkbase" />
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_StockholdersEquityOther_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase">Stockholders' Equity, Other</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2009/role/negatedLabel" xlink:label="us-gaap_StockholdersEquityOther_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase">Other</label>
    <loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2016/elts/us-gaap-2016-01-31.xsd#us-gaap_StockholdersEquityOtherShares" xlink:label="us-gaap_StockholdersEquityOtherShares" xmlns="http://www.xbrl.org/2003/linkbase" />
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_StockholdersEquityOtherShares" xlink:to="us-gaap_StockholdersEquityOtherShares_lbl" xmlns="http://www.xbrl.org/2003/linkbase" />
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_StockholdersEquityOtherShares_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase">Stockholders' Equity, Other Shares</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2009/role/negatedLabel" xlink:label="us-gaap_StockholdersEquityOtherShares_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase">Other (in shares)</label>
    <loc xlink:type="locator" xlink:href="iret-20170430.xsd#iret_PartnersCapitalAccountRedemptionsPriorPeriodAdjustment" xlink:label="iret_PartnersCapitalAccountRedemptionsPriorPeriodAdjustment" xmlns="http://www.xbrl.org/2003/linkbase" />
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="iret_PartnersCapitalAccountRedemptionsPriorPeriodAdjustment" xlink:to="iret_PartnersCapitalAccountRedemptionsPriorPeriodAdjustment_lbl" xmlns="http://www.xbrl.org/2003/linkbase" />
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="iret_PartnersCapitalAccountRedemptionsPriorPeriodAdjustment_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase">Total change in each class of partners' capital accounts during the year due to prior period adjustments of redemptions and adjustments to redemption value. All partners include general, limited and preferred partners.</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="iret_PartnersCapitalAccountRedemptionsPriorPeriodAdjustment_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase">Partners' Capital Account, Redemptions, Prior Period Adjustment</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2009/role/negatedLabel" xlink:label="iret_PartnersCapitalAccountRedemptionsPriorPeriodAdjustment_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase">Adjustments to prior year redemption of units for common shares</label>
    <loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2016/elts/us-gaap-2016-01-31.xsd#us-gaap_StatementOfCashFlowsAbstract" xlink:label="us-gaap_StatementOfCashFlowsAbstract" xmlns="http://www.xbrl.org/2003/linkbase" />
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_StatementOfCashFlowsAbstract" xlink:to="us-gaap_StatementOfCashFlowsAbstract_lbl" xmlns="http://www.xbrl.org/2003/linkbase" />
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_StatementOfCashFlowsAbstract_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase">CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS [Abstract]</label>
    <loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2016/elts/us-gaap-2016-01-31.xsd#us-gaap_NetCashProvidedByUsedInOperatingActivitiesAbstract" xlink:label="us-gaap_NetCashProvidedByUsedInOperatingActivitiesAbstract" xmlns="http://www.xbrl.org/2003/linkbase" />
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_NetCashProvidedByUsedInOperatingActivitiesAbstract" xlink:to="us-gaap_NetCashProvidedByUsedInOperatingActivitiesAbstract_lbl" xmlns="http://www.xbrl.org/2003/linkbase" />
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_NetCashProvidedByUsedInOperatingActivitiesAbstract_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase">CASH FLOWS FROM OPERATING ACTIVITIES</label>
    <loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2016/elts/us-gaap-2016-01-31.xsd#us-gaap_AdjustmentsToReconcileNetIncomeLossToCashProvidedByUsedInOperatingActivitiesAbstract" xlink:label="us-gaap_AdjustmentsToReconcileNetIncomeLossToCashProvidedByUsedInOperatingActivitiesAbstract" xmlns="http://www.xbrl.org/2003/linkbase" />
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_AdjustmentsToReconcileNetIncomeLossToCashProvidedByUsedInOperatingActivitiesAbstract" xlink:to="us-gaap_AdjustmentsToReconcileNetIncomeLossToCashProvidedByUsedInOperatingActivitiesAbstract_lbl" xmlns="http://www.xbrl.org/2003/linkbase" />
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_AdjustmentsToReconcileNetIncomeLossToCashProvidedByUsedInOperatingActivitiesAbstract_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase">Adjustments to reconcile net (loss) income to net cash provided by operating activities:</label>
    <loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2016/elts/us-gaap-2016-01-31.xsd#us-gaap_DepreciationDepletionAndAmortization" xlink:label="us-gaap_DepreciationDepletionAndAmortization" xmlns="http://www.xbrl.org/2003/linkbase" />
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_DepreciationDepletionAndAmortization" xlink:to="us-gaap_DepreciationDepletionAndAmortization_lbl" xmlns="http://www.xbrl.org/2003/linkbase" />
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_DepreciationDepletionAndAmortization_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase">Depreciation, Depletion and Amortization</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="us-gaap_DepreciationDepletionAndAmortization_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase">Depreciation and amortization</label>
    <loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2016/elts/us-gaap-2016-01-31.xsd#us-gaap_DepreciationAndAmortizationDiscontinuedOperations" xlink:label="us-gaap_DepreciationAndAmortizationDiscontinuedOperations" xmlns="http://www.xbrl.org/2003/linkbase" />
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_DepreciationAndAmortizationDiscontinuedOperations" xlink:to="us-gaap_DepreciationAndAmortizationDiscontinuedOperations_lbl" xmlns="http://www.xbrl.org/2003/linkbase" />
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_DepreciationAndAmortizationDiscontinuedOperations_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase">Depreciation and Amortization, Discontinued Operations</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="us-gaap_DepreciationAndAmortizationDiscontinuedOperations_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase">Depreciation and amortization from discontinued operations</label>
    <loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2016/elts/us-gaap-2016-01-31.xsd#us-gaap_DiscontinuedOperationGainLossOnDisposalOfDiscontinuedOperationNetOfTax" xlink:label="us-gaap_DiscontinuedOperationGainLossOnDisposalOfDiscontinuedOperationNetOfTax" xmlns="http://www.xbrl.org/2003/linkbase" />
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_DiscontinuedOperationGainLossOnDisposalOfDiscontinuedOperationNetOfTax" xlink:to="us-gaap_DiscontinuedOperationGainLossOnDisposalOfDiscontinuedOperationNetOfTax_lbl" xmlns="http://www.xbrl.org/2003/linkbase" />
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_DiscontinuedOperationGainLossOnDisposalOfDiscontinuedOperationNetOfTax_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase">Discontinued Operation, Gain (Loss) on Disposal of Discontinued Operation, Net of Tax</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2009/role/negatedLabel" xlink:label="us-gaap_DiscontinuedOperationGainLossOnDisposalOfDiscontinuedOperationNetOfTax_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase">Gain on sale of real estate, land, other investments and discontinued operations</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/totalLabel" xlink:label="us-gaap_DiscontinuedOperationGainLossOnDisposalOfDiscontinuedOperationNetOfTax_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase">Gain on sale of discontinued operations</label>
    <loc xlink:type="locator" xlink:href="iret-20170430.xsd#iret_GainsLossesOnExtinguishmentOfDebtIncludingDiscontinuedOperations" xlink:label="iret_GainsLossesOnExtinguishmentOfDebtIncludingDiscontinuedOperations" xmlns="http://www.xbrl.org/2003/linkbase" />
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="iret_GainsLossesOnExtinguishmentOfDebtIncludingDiscontinuedOperations" xlink:to="iret_GainsLossesOnExtinguishmentOfDebtIncludingDiscontinuedOperations_lbl" xmlns="http://www.xbrl.org/2003/linkbase" />
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="iret_GainsLossesOnExtinguishmentOfDebtIncludingDiscontinuedOperations_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase">Difference between the fair value of payments made and the carrying amount of debt which is extinguished prior to maturity, including discontinued operations.</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="iret_GainsLossesOnExtinguishmentOfDebtIncludingDiscontinuedOperations_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase">Gains (Losses) on Extinguishment Of Debt, Including Discontinued Operations</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2009/role/negatedLabel" xlink:label="iret_GainsLossesOnExtinguishmentOfDebtIncludingDiscontinuedOperations_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase">Loss (gain) on extinguishment of debt and discontinued operations</label>
    <loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2016/elts/us-gaap-2016-01-31.xsd#us-gaap_ShareBasedCompensation" xlink:label="us-gaap_ShareBasedCompensation" xmlns="http://www.xbrl.org/2003/linkbase" />
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_ShareBasedCompensation" xlink:to="us-gaap_ShareBasedCompensation_lbl" xmlns="http://www.xbrl.org/2003/linkbase" />
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_ShareBasedCompensation_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase">Share-based Compensation</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="us-gaap_ShareBasedCompensation_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase">Share-based compensation expense</label>
    <loc xlink:type="locator" xlink:href="iret-20170430.xsd#iret_ImpairmentOfRealEstateContinuingAndDiscontinuedOperations" xlink:label="iret_ImpairmentOfRealEstateContinuingAndDiscontinuedOperations" xmlns="http://www.xbrl.org/2003/linkbase" />
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="iret_ImpairmentOfRealEstateContinuingAndDiscontinuedOperations" xlink:to="iret_ImpairmentOfRealEstateContinuingAndDiscontinuedOperations_lbl" xmlns="http://www.xbrl.org/2003/linkbase" />
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="iret_ImpairmentOfRealEstateContinuingAndDiscontinuedOperations_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase">Impairment of real estate continuing and discontinued operations.</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="iret_ImpairmentOfRealEstateContinuingAndDiscontinuedOperations_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase">Impairment of real estate continuing and discontinued operations</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:label="iret_ImpairmentOfRealEstateContinuingAndDiscontinuedOperations_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase">Impairment of real estate investments</label>
    <loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2016/elts/us-gaap-2016-01-31.xsd#us-gaap_ProvisionForDoubtfulAccounts" xlink:label="us-gaap_ProvisionForDoubtfulAccounts" xmlns="http://www.xbrl.org/2003/linkbase" />
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_ProvisionForDoubtfulAccounts" xlink:to="us-gaap_ProvisionForDoubtfulAccounts_lbl" xmlns="http://www.xbrl.org/2003/linkbase" />
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_ProvisionForDoubtfulAccounts_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase">Provision</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="us-gaap_ProvisionForDoubtfulAccounts_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase">Bad debt expense</label>
    <loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2016/elts/us-gaap-2016-01-31.xsd#us-gaap_NoncashProjectAbandonmentCosts" xlink:label="us-gaap_NoncashProjectAbandonmentCosts" xmlns="http://www.xbrl.org/2003/linkbase" />
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_NoncashProjectAbandonmentCosts" xlink:to="us-gaap_NoncashProjectAbandonmentCosts_lbl" xmlns="http://www.xbrl.org/2003/linkbase" />
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_NoncashProjectAbandonmentCosts_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase">Noncash Project Abandonment Costs</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="us-gaap_NoncashProjectAbandonmentCosts_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase">Write off prepaid development costs</label>
    <loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2016/elts/us-gaap-2016-01-31.xsd#us-gaap_IncreaseDecreaseInOperatingCapitalAbstract" xlink:label="us-gaap_IncreaseDecreaseInOperatingCapitalAbstract" xmlns="http://www.xbrl.org/2003/linkbase" />
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_IncreaseDecreaseInOperatingCapitalAbstract" xlink:to="us-gaap_IncreaseDecreaseInOperatingCapitalAbstract_lbl" xmlns="http://www.xbrl.org/2003/linkbase" />
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_IncreaseDecreaseInOperatingCapitalAbstract_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase">Changes in other assets and liabilities:</label>
    <loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2016/elts/us-gaap-2016-01-31.xsd#us-gaap_StraightLineRent" xlink:label="us-gaap_StraightLineRent" xmlns="http://www.xbrl.org/2003/linkbase" />
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_StraightLineRent" xlink:to="us-gaap_StraightLineRent_lbl" xmlns="http://www.xbrl.org/2003/linkbase" />
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_StraightLineRent_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase">Straight Line Rent</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2009/role/negatedLabel" xlink:label="us-gaap_StraightLineRent_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase">Receivable arising from straight-lining of rents</label>
    <loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2016/elts/us-gaap-2016-01-31.xsd#us-gaap_IncreaseDecreaseInAccountsReceivable" xlink:label="us-gaap_IncreaseDecreaseInAccountsReceivable" xmlns="http://www.xbrl.org/2003/linkbase" />
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_IncreaseDecreaseInAccountsReceivable" xlink:to="us-gaap_IncreaseDecreaseInAccountsReceivable_lbl" xmlns="http://www.xbrl.org/2003/linkbase" />
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_IncreaseDecreaseInAccountsReceivable_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase">Increase (Decrease) in Accounts Receivable</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2009/role/negatedLabel" xlink:label="us-gaap_IncreaseDecreaseInAccountsReceivable_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase">Accounts receivable</label>
    <loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2016/elts/us-gaap-2016-01-31.xsd#us-gaap_IncreaseDecreaseInPrepaidDeferredExpenseAndOtherAssets" xlink:label="us-gaap_IncreaseDecreaseInPrepaidDeferredExpenseAndOtherAssets" xmlns="http://www.xbrl.org/2003/linkbase" />
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_IncreaseDecreaseInPrepaidDeferredExpenseAndOtherAssets" xlink:to="us-gaap_IncreaseDecreaseInPrepaidDeferredExpenseAndOtherAssets_lbl" xmlns="http://www.xbrl.org/2003/linkbase" />
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_IncreaseDecreaseInPrepaidDeferredExpenseAndOtherAssets_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase">Increase (Decrease) in Prepaid Expense and Other Assets</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2009/role/negatedLabel" xlink:label="us-gaap_IncreaseDecreaseInPrepaidDeferredExpenseAndOtherAssets_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase">Prepaid and other assets</label>
    <loc xlink:type="locator" xlink:href="iret-20170430.xsd#iret_IncreaseDecreaseTaxInsuranceAndOtherEscrowAssets" xlink:label="iret_IncreaseDecreaseTaxInsuranceAndOtherEscrowAssets" xmlns="http://www.xbrl.org/2003/linkbase" />
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="iret_IncreaseDecreaseTaxInsuranceAndOtherEscrowAssets" xlink:to="iret_IncreaseDecreaseTaxInsuranceAndOtherEscrowAssets_lbl" xmlns="http://www.xbrl.org/2003/linkbase" />
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="iret_IncreaseDecreaseTaxInsuranceAndOtherEscrowAssets_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase">The increase (decrease) during the reporting period in the value of tax, insurance, and other escrow assets.</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="iret_IncreaseDecreaseTaxInsuranceAndOtherEscrowAssets_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase">Increase Decrease Tax Insurance and Other Escrow Assets</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2009/role/negatedLabel" xlink:label="iret_IncreaseDecreaseTaxInsuranceAndOtherEscrowAssets_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase">Tax, insurance and other escrow</label>
    <loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2016/elts/us-gaap-2016-01-31.xsd#us-gaap_IncreaseDecreaseInDeferredLeasingFees" xlink:label="us-gaap_IncreaseDecreaseInDeferredLeasingFees" xmlns="http://www.xbrl.org/2003/linkbase" />
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_IncreaseDecreaseInDeferredLeasingFees" xlink:to="us-gaap_IncreaseDecreaseInDeferredLeasingFees_lbl" xmlns="http://www.xbrl.org/2003/linkbase" />
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_IncreaseDecreaseInDeferredLeasingFees_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase">Increase (Decrease) in Deferred Leasing Fees</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2009/role/negatedLabel" xlink:label="us-gaap_IncreaseDecreaseInDeferredLeasingFees_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase">Deferred charges and leasing costs</label>
    <loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2016/elts/us-gaap-2016-01-31.xsd#us-gaap_IncreaseDecreaseInAccountsPayableAndAccruedLiabilities" xlink:label="us-gaap_IncreaseDecreaseInAccountsPayableAndAccruedLiabilities" xmlns="http://www.xbrl.org/2003/linkbase" />
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_IncreaseDecreaseInAccountsPayableAndAccruedLiabilities" xlink:to="us-gaap_IncreaseDecreaseInAccountsPayableAndAccruedLiabilities_lbl" xmlns="http://www.xbrl.org/2003/linkbase" />
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_IncreaseDecreaseInAccountsPayableAndAccruedLiabilities_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase">Increase (Decrease) in Accounts Payable and Accrued Liabilities</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="us-gaap_IncreaseDecreaseInAccountsPayableAndAccruedLiabilities_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase">Accounts payable, accrued expenses and other liabilities</label>
    <loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2016/elts/us-gaap-2016-01-31.xsd#us-gaap_NetCashProvidedByUsedInOperatingActivities" xlink:label="us-gaap_NetCashProvidedByUsedInOperatingActivities" xmlns="http://www.xbrl.org/2003/linkbase" />
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_NetCashProvidedByUsedInOperatingActivities" xlink:to="us-gaap_NetCashProvidedByUsedInOperatingActivities_lbl" xmlns="http://www.xbrl.org/2003/linkbase" />
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_NetCashProvidedByUsedInOperatingActivities_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase">Net Cash Provided by (Used in) Operating Activities</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/totalLabel" xlink:label="us-gaap_NetCashProvidedByUsedInOperatingActivities_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase">Net cash provided by operating activities</label>
    <loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2016/elts/us-gaap-2016-01-31.xsd#us-gaap_NetCashProvidedByUsedInInvestingActivitiesAbstract" xlink:label="us-gaap_NetCashProvidedByUsedInInvestingActivitiesAbstract" xmlns="http://www.xbrl.org/2003/linkbase" />
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_NetCashProvidedByUsedInInvestingActivitiesAbstract" xlink:to="us-gaap_NetCashProvidedByUsedInInvestingActivitiesAbstract_lbl" xmlns="http://www.xbrl.org/2003/linkbase" />
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_NetCashProvidedByUsedInInvestingActivitiesAbstract_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase">CASH FLOWS FROM INVESTING ACTIVITIES</label>
    <loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2016/elts/us-gaap-2016-01-31.xsd#us-gaap_ProceedsFromDepositsOnRealEstateSales" xlink:label="us-gaap_ProceedsFromDepositsOnRealEstateSales" xmlns="http://www.xbrl.org/2003/linkbase" />
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_ProceedsFromDepositsOnRealEstateSales" xlink:to="us-gaap_ProceedsFromDepositsOnRealEstateSales_lbl" xmlns="http://www.xbrl.org/2003/linkbase" />
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_ProceedsFromDepositsOnRealEstateSales_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase">Proceeds from real estate deposits</label>
    <loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2016/elts/us-gaap-2016-01-31.xsd#us-gaap_PaymentsForDepositsOnRealEstateAcquisitions" xlink:label="us-gaap_PaymentsForDepositsOnRealEstateAcquisitions" xmlns="http://www.xbrl.org/2003/linkbase" />
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_PaymentsForDepositsOnRealEstateAcquisitions" xlink:to="us-gaap_PaymentsForDepositsOnRealEstateAcquisitions_lbl" xmlns="http://www.xbrl.org/2003/linkbase" />
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_PaymentsForDepositsOnRealEstateAcquisitions_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase">Payments for Deposits on Real Estate Acquisitions</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2009/role/negatedLabel" xlink:label="us-gaap_PaymentsForDepositsOnRealEstateAcquisitions_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase">Payments for real estate deposits</label>
    <loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2016/elts/us-gaap-2016-01-31.xsd#us-gaap_PaymentsForProceedsFromOtherInvestingActivities" xlink:label="us-gaap_PaymentsForProceedsFromOtherInvestingActivities" xmlns="http://www.xbrl.org/2003/linkbase" />
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_PaymentsForProceedsFromOtherInvestingActivities" xlink:to="us-gaap_PaymentsForProceedsFromOtherInvestingActivities_lbl" xmlns="http://www.xbrl.org/2003/linkbase" />
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_PaymentsForProceedsFromOtherInvestingActivities_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase">Payments for (Proceeds from) Other Investing Activities</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2009/role/negatedLabel" xlink:label="us-gaap_PaymentsForProceedsFromOtherInvestingActivities_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase">Decrease in other investments</label>
    <loc xlink:type="locator" xlink:href="iret-20170430.xsd#iret_DecreaseInLenderHoldbacksForImprovements" xlink:label="iret_DecreaseInLenderHoldbacksForImprovements" xmlns="http://www.xbrl.org/2003/linkbase" />
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="iret_DecreaseInLenderHoldbacksForImprovements" xlink:to="iret_DecreaseInLenderHoldbacksForImprovements_lbl" xmlns="http://www.xbrl.org/2003/linkbase" />
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="iret_DecreaseInLenderHoldbacksForImprovements_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase">The cash inflow associated with the decrease in lender hold backs for improvements.</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="iret_DecreaseInLenderHoldbacksForImprovements_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase">Decrease In Lender Holdbacks For Improvements</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="iret_DecreaseInLenderHoldbacksForImprovements_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase">Decrease in lender holdbacks for improvements</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:label="iret_DecreaseInLenderHoldbacksForImprovements_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase">Decrease in lender holdbacks</label>
    <loc xlink:type="locator" xlink:href="iret-20170430.xsd#iret_IncreaseLenderHoldbacksForImprovements" xlink:label="iret_IncreaseLenderHoldbacksForImprovements" xmlns="http://www.xbrl.org/2003/linkbase" />
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="iret_IncreaseLenderHoldbacksForImprovements" xlink:to="iret_IncreaseLenderHoldbacksForImprovements_lbl" xmlns="http://www.xbrl.org/2003/linkbase" />
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="iret_IncreaseLenderHoldbacksForImprovements_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase">The cash outflow associated with the increase in lender hold backs for improvements.</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="iret_IncreaseLenderHoldbacksForImprovements_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase">Increase Lender Holdbacks For Improvements</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2009/role/negatedLabel" xlink:label="iret_IncreaseLenderHoldbacksForImprovements_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase">Increase in lender holdbacks for improvements</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="iret_IncreaseLenderHoldbacksForImprovements_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase">Increase in lender holdbacks for improvements</label>
    <loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2016/elts/us-gaap-2016-01-31.xsd#us-gaap_ProceedsFromSaleOfRealEstate" xlink:label="us-gaap_ProceedsFromSaleOfRealEstate" xmlns="http://www.xbrl.org/2003/linkbase" />
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_ProceedsFromSaleOfRealEstate" xlink:to="us-gaap_ProceedsFromSaleOfRealEstate_lbl" xmlns="http://www.xbrl.org/2003/linkbase" />
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_ProceedsFromSaleOfRealEstate_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase">Proceeds from sale of discontinued operations</label>
    <loc xlink:type="locator" xlink:href="iret-20170430.xsd#iret_ProceedsFromSaleOfRealEstateAndOtherInvestments" xlink:label="iret_ProceedsFromSaleOfRealEstateAndOtherInvestments" xmlns="http://www.xbrl.org/2003/linkbase" />
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="iret_ProceedsFromSaleOfRealEstateAndOtherInvestments" xlink:to="iret_ProceedsFromSaleOfRealEstateAndOtherInvestments_lbl" xmlns="http://www.xbrl.org/2003/linkbase" />
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="iret_ProceedsFromSaleOfRealEstateAndOtherInvestments_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase">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.</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="iret_ProceedsFromSaleOfRealEstateAndOtherInvestments_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase">Proceeds from sale of real estate and other investments</label>
    <loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2016/elts/us-gaap-2016-01-31.xsd#us-gaap_ProceedsFromInsuranceSettlementInvestingActivities" xlink:label="us-gaap_ProceedsFromInsuranceSettlementInvestingActivities" xmlns="http://www.xbrl.org/2003/linkbase" />
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_ProceedsFromInsuranceSettlementInvestingActivities" xlink:to="us-gaap_ProceedsFromInsuranceSettlementInvestingActivities_lbl" xmlns="http://www.xbrl.org/2003/linkbase" />
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_ProceedsFromInsuranceSettlementInvestingActivities_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase">Insurance proceeds received</label>
    <loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2016/elts/us-gaap-2016-01-31.xsd#us-gaap_PaymentsToAcquireRealEstate" xlink:label="us-gaap_PaymentsToAcquireRealEstate" xmlns="http://www.xbrl.org/2003/linkbase" />
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_PaymentsToAcquireRealEstate" xlink:to="us-gaap_PaymentsToAcquireRealEstate_lbl" xmlns="http://www.xbrl.org/2003/linkbase" />
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_PaymentsToAcquireRealEstate_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase">Payments to Acquire Real Estate</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2009/role/negatedLabel" xlink:label="us-gaap_PaymentsToAcquireRealEstate_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase">Payments for acquisitions of real estate assets</label>
    <loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2016/elts/us-gaap-2016-01-31.xsd#us-gaap_PaymentsForConstructionInProcess" xlink:label="us-gaap_PaymentsForConstructionInProcess" xmlns="http://www.xbrl.org/2003/linkbase" />
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_PaymentsForConstructionInProcess" xlink:to="us-gaap_PaymentsForConstructionInProcess_lbl" xmlns="http://www.xbrl.org/2003/linkbase" />
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_PaymentsForConstructionInProcess_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase">Payments for Construction in Process</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2009/role/negatedLabel" xlink:label="us-gaap_PaymentsForConstructionInProcess_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase">Payments for development and re-development of real estate assets</label>
    <loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2016/elts/us-gaap-2016-01-31.xsd#us-gaap_PaymentsForCapitalImprovements" xlink:label="us-gaap_PaymentsForCapitalImprovements" xmlns="http://www.xbrl.org/2003/linkbase" />
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_PaymentsForCapitalImprovements" xlink:to="us-gaap_PaymentsForCapitalImprovements_lbl" xmlns="http://www.xbrl.org/2003/linkbase" />
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_PaymentsForCapitalImprovements_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase">Payments for Capital Improvements</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2009/role/negatedLabel" xlink:label="us-gaap_PaymentsForCapitalImprovements_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase">Payments for improvements of real estate assets</label>
    <loc xlink:type="locator" xlink:href="iret-20170430.xsd#iret_PaymentsForCapitalImprovementsDiscontinuedOperations" xlink:label="iret_PaymentsForCapitalImprovementsDiscontinuedOperations" xmlns="http://www.xbrl.org/2003/linkbase" />
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="iret_PaymentsForCapitalImprovementsDiscontinuedOperations" xlink:to="iret_PaymentsForCapitalImprovementsDiscontinuedOperations_lbl" xmlns="http://www.xbrl.org/2003/linkbase" />
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="iret_PaymentsForCapitalImprovementsDiscontinuedOperations_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase">The cash outflow for acquisition of or capital improvements to real estate assets from discontinued operations.</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="iret_PaymentsForCapitalImprovementsDiscontinuedOperations_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase">Payments For Capital Improvements Discontinued Operations</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2009/role/negatedLabel" xlink:label="iret_PaymentsForCapitalImprovementsDiscontinuedOperations_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase">Payments for improvements of real estate assets from discontinued operations</label>
    <loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2016/elts/us-gaap-2016-01-31.xsd#us-gaap_NetCashProvidedByUsedInInvestingActivities" xlink:label="us-gaap_NetCashProvidedByUsedInInvestingActivities" xmlns="http://www.xbrl.org/2003/linkbase" />
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_NetCashProvidedByUsedInInvestingActivities" xlink:to="us-gaap_NetCashProvidedByUsedInInvestingActivities_lbl" xmlns="http://www.xbrl.org/2003/linkbase" />
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_NetCashProvidedByUsedInInvestingActivities_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase">Net Cash Provided by (Used in) Investing Activities</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/totalLabel" xlink:label="us-gaap_NetCashProvidedByUsedInInvestingActivities_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase">Net cash provided (used) by investing activities</label>
    <loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2016/elts/us-gaap-2016-01-31.xsd#us-gaap_NetCashProvidedByUsedInFinancingActivitiesAbstract" xlink:label="us-gaap_NetCashProvidedByUsedInFinancingActivitiesAbstract" xmlns="http://www.xbrl.org/2003/linkbase" />
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_NetCashProvidedByUsedInFinancingActivitiesAbstract" xlink:to="us-gaap_NetCashProvidedByUsedInFinancingActivitiesAbstract_lbl" xmlns="http://www.xbrl.org/2003/linkbase" />
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_NetCashProvidedByUsedInFinancingActivitiesAbstract_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase">CASH FLOWS FROM FINANCING ACTIVITIES</label>
    <loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2016/elts/us-gaap-2016-01-31.xsd#us-gaap_ProceedsFromIssuanceOfLongTermDebt" xlink:label="us-gaap_ProceedsFromIssuanceOfLongTermDebt" xmlns="http://www.xbrl.org/2003/linkbase" />
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_ProceedsFromIssuanceOfLongTermDebt" xlink:to="us-gaap_ProceedsFromIssuanceOfLongTermDebt_lbl" xmlns="http://www.xbrl.org/2003/linkbase" />
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_ProceedsFromIssuanceOfLongTermDebt_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase">Proceeds from mortgages payable</label>
    <loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2016/elts/us-gaap-2016-01-31.xsd#us-gaap_RepaymentsOfLongTermDebt" xlink:label="us-gaap_RepaymentsOfLongTermDebt" xmlns="http://www.xbrl.org/2003/linkbase" />
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_RepaymentsOfLongTermDebt" xlink:to="us-gaap_RepaymentsOfLongTermDebt_lbl" xmlns="http://www.xbrl.org/2003/linkbase" />
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_RepaymentsOfLongTermDebt_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase">Repayments of Long-term Debt</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2009/role/negatedLabel" xlink:label="us-gaap_RepaymentsOfLongTermDebt_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase">Principal payments on mortgages payable</label>
    <loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2016/elts/us-gaap-2016-01-31.xsd#us-gaap_ProceedsFromLinesOfCredit" xlink:label="us-gaap_ProceedsFromLinesOfCredit" xmlns="http://www.xbrl.org/2003/linkbase" />
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_ProceedsFromLinesOfCredit" xlink:to="us-gaap_ProceedsFromLinesOfCredit_lbl" xmlns="http://www.xbrl.org/2003/linkbase" />
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_ProceedsFromLinesOfCredit_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase">Proceeds from revolving lines of credit</label>
    <loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2016/elts/us-gaap-2016-01-31.xsd#us-gaap_RepaymentsOfLinesOfCredit" xlink:label="us-gaap_RepaymentsOfLinesOfCredit" xmlns="http://www.xbrl.org/2003/linkbase" />
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_RepaymentsOfLinesOfCredit" xlink:to="us-gaap_RepaymentsOfLinesOfCredit_lbl" xmlns="http://www.xbrl.org/2003/linkbase" />
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_RepaymentsOfLinesOfCredit_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase">Repayments of Lines of Credit</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2009/role/negatedLabel" xlink:label="us-gaap_RepaymentsOfLinesOfCredit_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase">Principal payments on revolving lines of credit</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="us-gaap_RepaymentsOfLinesOfCredit_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase">Repayment of line of credit</label>
    <loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2016/elts/us-gaap-2016-01-31.xsd#us-gaap_ProceedsFromConstructionLoansPayable" xlink:label="us-gaap_ProceedsFromConstructionLoansPayable" xmlns="http://www.xbrl.org/2003/linkbase" />
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_ProceedsFromConstructionLoansPayable" xlink:to="us-gaap_ProceedsFromConstructionLoansPayable_lbl" xmlns="http://www.xbrl.org/2003/linkbase" />
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_ProceedsFromConstructionLoansPayable_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase">Proceeds from construction debt</label>
    <loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2016/elts/us-gaap-2016-01-31.xsd#us-gaap_RepaymentsOfConstructionLoansPayable" xlink:label="us-gaap_RepaymentsOfConstructionLoansPayable" xmlns="http://www.xbrl.org/2003/linkbase" />
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_RepaymentsOfConstructionLoansPayable" xlink:to="us-gaap_RepaymentsOfConstructionLoansPayable_lbl" xmlns="http://www.xbrl.org/2003/linkbase" />
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_RepaymentsOfConstructionLoansPayable_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase">Repayments of Construction Loans Payable</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2009/role/negatedLabel" xlink:label="us-gaap_RepaymentsOfConstructionLoansPayable_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase">Principal payments on construction debt</label>
    <loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2016/elts/us-gaap-2016-01-31.xsd#us-gaap_ProceedsFromStockPlans" xlink:label="us-gaap_ProceedsFromStockPlans" xmlns="http://www.xbrl.org/2003/linkbase" />
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_ProceedsFromStockPlans" xlink:to="us-gaap_ProceedsFromStockPlans_lbl" xmlns="http://www.xbrl.org/2003/linkbase" />
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_ProceedsFromStockPlans_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase">Proceeds from sale of common shares under distribution reinvestment and share purchase program</label>
    <loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2016/elts/us-gaap-2016-01-31.xsd#us-gaap_PaymentsToAcquireNotesReceivable" xlink:label="us-gaap_PaymentsToAcquireNotesReceivable" xmlns="http://www.xbrl.org/2003/linkbase" />
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_PaymentsToAcquireNotesReceivable" xlink:to="us-gaap_PaymentsToAcquireNotesReceivable_lbl" xmlns="http://www.xbrl.org/2003/linkbase" />
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_PaymentsToAcquireNotesReceivable_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase">Payments to Acquire Notes Receivable</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2009/role/negatedLabel" xlink:label="us-gaap_PaymentsToAcquireNotesReceivable_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase">Additions to notes receivable from noncontrolling partner &#x2013; consolidated real estate entities</label>
    <loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2016/elts/us-gaap-2016-01-31.xsd#us-gaap_ProceedsFromMinorityShareholders" xlink:label="us-gaap_ProceedsFromMinorityShareholders" xmlns="http://www.xbrl.org/2003/linkbase" />
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_ProceedsFromMinorityShareholders" xlink:to="us-gaap_ProceedsFromMinorityShareholders_lbl" xmlns="http://www.xbrl.org/2003/linkbase" />
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_ProceedsFromMinorityShareholders_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase">Proceeds from noncontrolling partner - consolidated real estate entities</label>
    <loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2016/elts/us-gaap-2016-01-31.xsd#us-gaap_PaymentsToAcquireAdditionalInterestInSubsidiaries" xlink:label="us-gaap_PaymentsToAcquireAdditionalInterestInSubsidiaries" xmlns="http://www.xbrl.org/2003/linkbase" />
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_PaymentsToAcquireAdditionalInterestInSubsidiaries" xlink:to="us-gaap_PaymentsToAcquireAdditionalInterestInSubsidiaries_lbl" xmlns="http://www.xbrl.org/2003/linkbase" />
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_PaymentsToAcquireAdditionalInterestInSubsidiaries_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase">Payments to Acquire Additional Interest in Subsidiaries</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2009/role/negatedLabel" xlink:label="us-gaap_PaymentsToAcquireAdditionalInterestInSubsidiaries_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase">Payments for acquisition of noncontrolling interests - consolidated real estate entities</label>
    <loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2016/elts/us-gaap-2016-01-31.xsd#us-gaap_PaymentsForRepurchaseOfCommonStock" xlink:label="us-gaap_PaymentsForRepurchaseOfCommonStock" xmlns="http://www.xbrl.org/2003/linkbase" />
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_PaymentsForRepurchaseOfCommonStock" xlink:to="us-gaap_PaymentsForRepurchaseOfCommonStock_lbl" xmlns="http://www.xbrl.org/2003/linkbase" />
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_PaymentsForRepurchaseOfCommonStock_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase">Payments for Repurchase of Common Stock</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2009/role/negatedLabel" xlink:label="us-gaap_PaymentsForRepurchaseOfCommonStock_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase">Repurchase of common shares</label>
    <loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2016/elts/us-gaap-2016-01-31.xsd#us-gaap_PaymentsForRepurchaseOfPreferredStockAndPreferenceStock" xlink:label="us-gaap_PaymentsForRepurchaseOfPreferredStockAndPreferenceStock" xmlns="http://www.xbrl.org/2003/linkbase" />
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_PaymentsForRepurchaseOfPreferredStockAndPreferenceStock" xlink:to="us-gaap_PaymentsForRepurchaseOfPreferredStockAndPreferenceStock_lbl" xmlns="http://www.xbrl.org/2003/linkbase" />
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_PaymentsForRepurchaseOfPreferredStockAndPreferenceStock_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase">Payments for Repurchase of Preferred Stock and Preference Stock</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2009/role/negatedLabel" xlink:label="us-gaap_PaymentsForRepurchaseOfPreferredStockAndPreferenceStock_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase">Repurchase of Preferred shares</label>
    <loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2016/elts/us-gaap-2016-01-31.xsd#us-gaap_PaymentsForRepurchaseOfRedeemableNoncontrollingInterest" xlink:label="us-gaap_PaymentsForRepurchaseOfRedeemableNoncontrollingInterest" xmlns="http://www.xbrl.org/2003/linkbase" />
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_PaymentsForRepurchaseOfRedeemableNoncontrollingInterest" xlink:to="us-gaap_PaymentsForRepurchaseOfRedeemableNoncontrollingInterest_lbl" xmlns="http://www.xbrl.org/2003/linkbase" />
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_PaymentsForRepurchaseOfRedeemableNoncontrollingInterest_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase">Payments for Repurchase of Redeemable Noncontrolling Interest</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2009/role/negatedLabel" xlink:label="us-gaap_PaymentsForRepurchaseOfRedeemableNoncontrollingInterest_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase">Repurchase of partnership units</label>
    <loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2016/elts/us-gaap-2016-01-31.xsd#us-gaap_PaymentsOfDividendsCommonStock" xlink:label="us-gaap_PaymentsOfDividendsCommonStock" xmlns="http://www.xbrl.org/2003/linkbase" />
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_PaymentsOfDividendsCommonStock" xlink:to="us-gaap_PaymentsOfDividendsCommonStock_lbl" xmlns="http://www.xbrl.org/2003/linkbase" />
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_PaymentsOfDividendsCommonStock_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase">Payments of Ordinary Dividends, Common Stock</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2009/role/negatedLabel" xlink:label="us-gaap_PaymentsOfDividendsCommonStock_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase">Distributions paid to common shareholders</label>
    <loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2016/elts/us-gaap-2016-01-31.xsd#us-gaap_PaymentsOfDividendsPreferredStockAndPreferenceStock" xlink:label="us-gaap_PaymentsOfDividendsPreferredStockAndPreferenceStock" xmlns="http://www.xbrl.org/2003/linkbase" />
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_PaymentsOfDividendsPreferredStockAndPreferenceStock" xlink:to="us-gaap_PaymentsOfDividendsPreferredStockAndPreferenceStock_lbl" xmlns="http://www.xbrl.org/2003/linkbase" />
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_PaymentsOfDividendsPreferredStockAndPreferenceStock_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase">Payments of Ordinary Dividends, Preferred Stock and Preference Stock</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2009/role/negatedLabel" xlink:label="us-gaap_PaymentsOfDividendsPreferredStockAndPreferenceStock_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase">Distributions paid to preferred shareholders</label>
    <loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2016/elts/us-gaap-2016-01-31.xsd#us-gaap_PaymentsOfDistributionsToAffiliates" xlink:label="us-gaap_PaymentsOfDistributionsToAffiliates" xmlns="http://www.xbrl.org/2003/linkbase" />
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_PaymentsOfDistributionsToAffiliates" xlink:to="us-gaap_PaymentsOfDistributionsToAffiliates_lbl" xmlns="http://www.xbrl.org/2003/linkbase" />
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_PaymentsOfDistributionsToAffiliates_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase">Payments of Distributions to Affiliates</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2009/role/negatedLabel" xlink:label="us-gaap_PaymentsOfDistributionsToAffiliates_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase">Distributions paid to noncontrolling interests - Unitholders of the Operating Partnership</label>
    <loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2016/elts/us-gaap-2016-01-31.xsd#us-gaap_PaymentsOfDividendsMinorityInterest" xlink:label="us-gaap_PaymentsOfDividendsMinorityInterest" xmlns="http://www.xbrl.org/2003/linkbase" />
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_PaymentsOfDividendsMinorityInterest" xlink:to="us-gaap_PaymentsOfDividendsMinorityInterest_lbl" xmlns="http://www.xbrl.org/2003/linkbase" />
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_PaymentsOfDividendsMinorityInterest_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase">Payments of Ordinary Dividends, Noncontrolling Interest</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2009/role/negatedLabel" xlink:label="us-gaap_PaymentsOfDividendsMinorityInterest_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase">Distributions paid to noncontrolling interests - consolidated real estate entities</label>
    <loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2016/elts/us-gaap-2016-01-31.xsd#us-gaap_NetCashProvidedByUsedInFinancingActivities" xlink:label="us-gaap_NetCashProvidedByUsedInFinancingActivities" xmlns="http://www.xbrl.org/2003/linkbase" />
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_NetCashProvidedByUsedInFinancingActivities" xlink:to="us-gaap_NetCashProvidedByUsedInFinancingActivities_lbl" xmlns="http://www.xbrl.org/2003/linkbase" />
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_NetCashProvidedByUsedInFinancingActivities_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase">Net Cash Provided by (Used in) Financing Activities</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/totalLabel" xlink:label="us-gaap_NetCashProvidedByUsedInFinancingActivities_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase">Net cash (used) provided by financing activities</label>
    <loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2016/elts/us-gaap-2016-01-31.xsd#us-gaap_CashAndCashEquivalentsPeriodIncreaseDecrease" xlink:label="us-gaap_CashAndCashEquivalentsPeriodIncreaseDecrease" xmlns="http://www.xbrl.org/2003/linkbase" />
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_CashAndCashEquivalentsPeriodIncreaseDecrease" xlink:to="us-gaap_CashAndCashEquivalentsPeriodIncreaseDecrease_lbl" xmlns="http://www.xbrl.org/2003/linkbase" />
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_CashAndCashEquivalentsPeriodIncreaseDecrease_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase">Cash and Cash Equivalents, Period Increase (Decrease)</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/totalLabel" xlink:label="us-gaap_CashAndCashEquivalentsPeriodIncreaseDecrease_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase">NET (DECREASE) INCREASE IN CASH AND CASH EQUIVALENTS</label>
    <loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2016/elts/us-gaap-2016-01-31.xsd#us-gaap_SupplementalCashFlowInformationAbstract" xlink:label="us-gaap_SupplementalCashFlowInformationAbstract" xmlns="http://www.xbrl.org/2003/linkbase" />
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_SupplementalCashFlowInformationAbstract" xlink:to="us-gaap_SupplementalCashFlowInformationAbstract_lbl" xmlns="http://www.xbrl.org/2003/linkbase" />
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_SupplementalCashFlowInformationAbstract_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase">Supplemental Cash Flow Information [Abstract]</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:label="us-gaap_SupplementalCashFlowInformationAbstract_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase">SUPPLEMENTARY SCHEDULE OF NON-CASH INVESTING AND FINANCING ACTIVITIES</label>
    <loc xlink:type="locator" xlink:href="iret-20170430.xsd#iret_DistributionReinvestmentPlan" xlink:label="iret_DistributionReinvestmentPlan" xmlns="http://www.xbrl.org/2003/linkbase" />
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="iret_DistributionReinvestmentPlan" xlink:to="iret_DistributionReinvestmentPlan_lbl" xmlns="http://www.xbrl.org/2003/linkbase" />
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="iret_DistributionReinvestmentPlan_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase">The fair value of stock (or units) issued in noncash financing activities related to the entity's distribution reinvestment plan.</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="iret_DistributionReinvestmentPlan_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase">Distribution Reinvestment Plan</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="iret_DistributionReinvestmentPlan_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase">Distribution reinvestment plan - shares issued</label>
    <loc xlink:type="locator" xlink:href="iret-20170430.xsd#iret_OperatingPartnershipDistributionReinvestmentPlan" xlink:label="iret_OperatingPartnershipDistributionReinvestmentPlan" xmlns="http://www.xbrl.org/2003/linkbase" />
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="iret_OperatingPartnershipDistributionReinvestmentPlan" xlink:to="iret_OperatingPartnershipDistributionReinvestmentPlan_lbl" xmlns="http://www.xbrl.org/2003/linkbase" />
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="iret_OperatingPartnershipDistributionReinvestmentPlan_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase">The fair value of stock (or units) issued in noncash financing activities related to the entity's operating partnership distribution reinvestment plan.</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="iret_OperatingPartnershipDistributionReinvestmentPlan_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase">Operating partnership distribution reinvestment plan - shares issued</label>
    <loc xlink:type="locator" xlink:href="iret-20170430.xsd#iret_OperatingPartnershipUnitsConvertedToShares" xlink:label="iret_OperatingPartnershipUnitsConvertedToShares" xmlns="http://www.xbrl.org/2003/linkbase" />
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="iret_OperatingPartnershipUnitsConvertedToShares" xlink:to="iret_OperatingPartnershipUnitsConvertedToShares_lbl" xmlns="http://www.xbrl.org/2003/linkbase" />
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="iret_OperatingPartnershipUnitsConvertedToShares_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase">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.</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="iret_OperatingPartnershipUnitsConvertedToShares_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase">Operating partnership units converted to shares</label>
    <loc xlink:type="locator" xlink:href="iret-20170430.xsd#iret_AssetsAcquiredThroughIssuanceOfOperatingPartnershipUnits" xlink:label="iret_AssetsAcquiredThroughIssuanceOfOperatingPartnershipUnits" xmlns="http://www.xbrl.org/2003/linkbase" />
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="iret_AssetsAcquiredThroughIssuanceOfOperatingPartnershipUnits" xlink:to="iret_AssetsAcquiredThroughIssuanceOfOperatingPartnershipUnits_lbl" xmlns="http://www.xbrl.org/2003/linkbase" />
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="iret_AssetsAcquiredThroughIssuanceOfOperatingPartnershipUnits_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase">Assets acquired through issuance of operating partnership units</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="iret_AssetsAcquiredThroughIssuanceOfOperatingPartnershipUnits_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase">Assets Acquired Through The Issuance Of Operating Partnership Units</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="iret_AssetsAcquiredThroughIssuanceOfOperatingPartnershipUnits_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase">Real estate assets acquired through the issuance of operating partnership units</label>
    <loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2016/elts/us-gaap-2016-01-31.xsd#us-gaap_LoansAssumed1" xlink:label="us-gaap_LoansAssumed1" xmlns="http://www.xbrl.org/2003/linkbase" />
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_LoansAssumed1" xlink:to="us-gaap_LoansAssumed1_lbl" xmlns="http://www.xbrl.org/2003/linkbase" />
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_LoansAssumed1_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase">Loans Assumed</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="us-gaap_LoansAssumed1_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase">Real estate assets acquired through the issuance of operating partnership units</label>
    <loc xlink:type="locator" xlink:href="iret-20170430.xsd#iret_AdjustmentsToAccountsPayableIncludedWithinRealEstateInvestments" xlink:label="iret_AdjustmentsToAccountsPayableIncludedWithinRealEstateInvestments" xmlns="http://www.xbrl.org/2003/linkbase" />
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="iret_AdjustmentsToAccountsPayableIncludedWithinRealEstateInvestments" xlink:to="iret_AdjustmentsToAccountsPayableIncludedWithinRealEstateInvestments_lbl" xmlns="http://www.xbrl.org/2003/linkbase" />
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="iret_AdjustmentsToAccountsPayableIncludedWithinRealEstateInvestments_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase">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.</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="iret_AdjustmentsToAccountsPayableIncludedWithinRealEstateInvestments_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase">Adjustments to accounts payable included within real estate investments</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="iret_AdjustmentsToAccountsPayableIncludedWithinRealEstateInvestments_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase">(Decrease) increase to accounts payable included within real estate investments</label>
    <loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2016/elts/us-gaap-2016-01-31.xsd#us-gaap_ContributionOfProperty" xlink:label="us-gaap_ContributionOfProperty" xmlns="http://www.xbrl.org/2003/linkbase" />
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_ContributionOfProperty" xlink:to="us-gaap_ContributionOfProperty_lbl" xmlns="http://www.xbrl.org/2003/linkbase" />
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_ContributionOfProperty_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase">Real estate assets contributed by noncontrolling interests - consolidated real estate entities</label>
    <loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2016/elts/us-gaap-2016-01-31.xsd#us-gaap_NoncashOrPartNoncashAcquisitionDebtAssumed1" xlink:label="us-gaap_NoncashOrPartNoncashAcquisitionDebtAssumed1" xmlns="http://www.xbrl.org/2003/linkbase" />
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_NoncashOrPartNoncashAcquisitionDebtAssumed1" xlink:to="us-gaap_NoncashOrPartNoncashAcquisitionDebtAssumed1_lbl" xmlns="http://www.xbrl.org/2003/linkbase" />
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_NoncashOrPartNoncashAcquisitionDebtAssumed1_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase">Conversion to equity of notes receivable from noncontrolling interests &#x2013; consolidated real estate entities</label>
    <loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2016/elts/us-gaap-2016-01-31.xsd#us-gaap_TransferMortgagePayable" xlink:label="us-gaap_TransferMortgagePayable" xmlns="http://www.xbrl.org/2003/linkbase" />
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_TransferMortgagePayable" xlink:to="us-gaap_TransferMortgagePayable_lbl" xmlns="http://www.xbrl.org/2003/linkbase" />
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_TransferMortgagePayable_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase">Construction debt reclassified to mortgages payable</label>
    <loc xlink:type="locator" xlink:href="iret-20170430.xsd#iret_DecreaseInRealEstateAssetsInConnectionWithTransferOfRealEstateAssetsInSettlementOfDebt" xlink:label="iret_DecreaseInRealEstateAssetsInConnectionWithTransferOfRealEstateAssetsInSettlementOfDebt" xmlns="http://www.xbrl.org/2003/linkbase" />
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="iret_DecreaseInRealEstateAssetsInConnectionWithTransferOfRealEstateAssetsInSettlementOfDebt" xlink:to="iret_DecreaseInRealEstateAssetsInConnectionWithTransferOfRealEstateAssetsInSettlementOfDebt_lbl" xmlns="http://www.xbrl.org/2003/linkbase" />
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="iret_DecreaseInRealEstateAssetsInConnectionWithTransferOfRealEstateAssetsInSettlementOfDebt_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase">Represents the decrease in real estate assets in connection with transfer of real estate assets in settlement of debt.</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="iret_DecreaseInRealEstateAssetsInConnectionWithTransferOfRealEstateAssetsInSettlementOfDebt_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase">Decrease In Real Estate Assets In Connection With Transfer Of Real Estate Assets In Settlement Of Debt</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="iret_DecreaseInRealEstateAssetsInConnectionWithTransferOfRealEstateAssetsInSettlementOfDebt_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase">Decrease in real estate assets in connection with transfer of real estate assets in settlement of debt</label>
    <loc xlink:type="locator" xlink:href="iret-20170430.xsd#iret_DecreaseInDebtInConnectionWithTransferOfRealEstateAssetsInSettlementOfDebt" xlink:label="iret_DecreaseInDebtInConnectionWithTransferOfRealEstateAssetsInSettlementOfDebt" xmlns="http://www.xbrl.org/2003/linkbase" />
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="iret_DecreaseInDebtInConnectionWithTransferOfRealEstateAssetsInSettlementOfDebt" xlink:to="iret_DecreaseInDebtInConnectionWithTransferOfRealEstateAssetsInSettlementOfDebt_lbl" xmlns="http://www.xbrl.org/2003/linkbase" />
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="iret_DecreaseInDebtInConnectionWithTransferOfRealEstateAssetsInSettlementOfDebt_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase">Represents the decrease in debt in connection with transfer of real estate assets in settlement of debt.</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="iret_DecreaseInDebtInConnectionWithTransferOfRealEstateAssetsInSettlementOfDebt_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase">Decrease In Debt In Connection With Transfer Of Real Estate Assets In Settlement Of Debt</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="iret_DecreaseInDebtInConnectionWithTransferOfRealEstateAssetsInSettlementOfDebt_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase">Decrease in debt in connection with transfer of real estate assets in settlement of debt</label>
    <loc xlink:type="locator" xlink:href="iret-20170430.xsd#iret_SupplementalDisclosureOfCashFlowInformationAbstract" xlink:label="iret_SupplementalDisclosureOfCashFlowInformationAbstract" xmlns="http://www.xbrl.org/2003/linkbase" />
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="iret_SupplementalDisclosureOfCashFlowInformationAbstract" xlink:to="iret_SupplementalDisclosureOfCashFlowInformationAbstract_lbl" xmlns="http://www.xbrl.org/2003/linkbase" />
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="iret_SupplementalDisclosureOfCashFlowInformationAbstract_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase">Supplemental Disclosure of Cash Flow Information [Abstract]</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:label="iret_SupplementalDisclosureOfCashFlowInformationAbstract_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase">SUPPLEMENTAL DISCLOSURE OF CASH FLOW INFORMATION</label>
    <loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2016/elts/us-gaap-2016-01-31.xsd#us-gaap_InterestPaid" xlink:label="us-gaap_InterestPaid" xmlns="http://www.xbrl.org/2003/linkbase" />
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_InterestPaid" xlink:to="us-gaap_InterestPaid_lbl" xmlns="http://www.xbrl.org/2003/linkbase" />
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_InterestPaid_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase">Cash paid for interest, net of amounts capitalized of $298 and $3,367, respectively</label>
    <loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2016/elts/us-gaap-2016-01-31.xsd#us-gaap_InterestPaidCapitalized" xlink:label="us-gaap_InterestPaidCapitalized" xmlns="http://www.xbrl.org/2003/linkbase" />
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_InterestPaidCapitalized" xlink:to="us-gaap_InterestPaidCapitalized_lbl" xmlns="http://www.xbrl.org/2003/linkbase" />
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_InterestPaidCapitalized_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase">Cash paid for interest</label>
    <loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2016/elts/us-gaap-2016-01-31.xsd#us-gaap_OrganizationConsolidationAndPresentationOfFinancialStatementsAbstract" xlink:label="us-gaap_OrganizationConsolidationAndPresentationOfFinancialStatementsAbstract" xmlns="http://www.xbrl.org/2003/linkbase" />
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_OrganizationConsolidationAndPresentationOfFinancialStatementsAbstract" xlink:to="us-gaap_OrganizationConsolidationAndPresentationOfFinancialStatementsAbstract_lbl" xmlns="http://www.xbrl.org/2003/linkbase" />
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_OrganizationConsolidationAndPresentationOfFinancialStatementsAbstract_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase">ORGANIZATION [Abstract]</label>
    <loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2016/elts/us-gaap-2016-01-31.xsd#us-gaap_OrganizationConsolidationAndPresentationOfFinancialStatementsDisclosureTextBlock" xlink:label="us-gaap_OrganizationConsolidationAndPresentationOfFinancialStatementsDisclosureTextBlock" xmlns="http://www.xbrl.org/2003/linkbase" />
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_OrganizationConsolidationAndPresentationOfFinancialStatementsDisclosureTextBlock" xlink:to="us-gaap_OrganizationConsolidationAndPresentationOfFinancialStatementsDisclosureTextBlock_lbl" xmlns="http://www.xbrl.org/2003/linkbase" />
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_OrganizationConsolidationAndPresentationOfFinancialStatementsDisclosureTextBlock_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase">ORGANIZATION</label>
    <loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2016/elts/us-gaap-2016-01-31.xsd#us-gaap_AccountingPoliciesAbstract" xlink:label="us-gaap_AccountingPoliciesAbstract" xmlns="http://www.xbrl.org/2003/linkbase" />
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_AccountingPoliciesAbstract" xlink:to="us-gaap_AccountingPoliciesAbstract_lbl" xmlns="http://www.xbrl.org/2003/linkbase" />
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_AccountingPoliciesAbstract_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase">BASIS OF PRESENTATION AND SIGNIFICANT ACCOUNTING POLICIES [Abstract]</label>
    <loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2016/elts/us-gaap-2016-01-31.xsd#us-gaap_SignificantAccountingPoliciesTextBlock" xlink:label="us-gaap_SignificantAccountingPoliciesTextBlock" xmlns="http://www.xbrl.org/2003/linkbase" />
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_SignificantAccountingPoliciesTextBlock" xlink:to="us-gaap_SignificantAccountingPoliciesTextBlock_lbl" xmlns="http://www.xbrl.org/2003/linkbase" />
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_SignificantAccountingPoliciesTextBlock_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase">BASIS OF PRESENTATION AND SIGNIFICANT ACCOUNTING POLICIES</label>
    <loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2016/elts/us-gaap-2016-01-31.xsd#us-gaap_RisksAndUncertaintiesAbstract" xlink:label="us-gaap_RisksAndUncertaintiesAbstract" xmlns="http://www.xbrl.org/2003/linkbase" />
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_RisksAndUncertaintiesAbstract" xlink:to="us-gaap_RisksAndUncertaintiesAbstract_lbl" xmlns="http://www.xbrl.org/2003/linkbase" />
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_RisksAndUncertaintiesAbstract_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase">CREDIT RISK [Abstract]</label>
    <loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2016/elts/us-gaap-2016-01-31.xsd#us-gaap_ConcentrationRiskDisclosureTextBlock" xlink:label="us-gaap_ConcentrationRiskDisclosureTextBlock" xmlns="http://www.xbrl.org/2003/linkbase" />
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_ConcentrationRiskDisclosureTextBlock" xlink:to="us-gaap_ConcentrationRiskDisclosureTextBlock_lbl" xmlns="http://www.xbrl.org/2003/linkbase" />
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_ConcentrationRiskDisclosureTextBlock_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase">CREDIT RISK</label>
    <loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2016/elts/us-gaap-2016-01-31.xsd#us-gaap_RealEstateOwnedDisclosureOfDetailedComponentsAbstract" xlink:label="us-gaap_RealEstateOwnedDisclosureOfDetailedComponentsAbstract" xmlns="http://www.xbrl.org/2003/linkbase" />
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_RealEstateOwnedDisclosureOfDetailedComponentsAbstract" xlink:to="us-gaap_RealEstateOwnedDisclosureOfDetailedComponentsAbstract_lbl" xmlns="http://www.xbrl.org/2003/linkbase" />
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_RealEstateOwnedDisclosureOfDetailedComponentsAbstract_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase">PROPERTY OWNED [Abstract]</label>
    <loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2016/elts/us-gaap-2016-01-31.xsd#us-gaap_RealEstateOwnedTextBlock" xlink:label="us-gaap_RealEstateOwnedTextBlock" xmlns="http://www.xbrl.org/2003/linkbase" />
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_RealEstateOwnedTextBlock" xlink:to="us-gaap_RealEstateOwnedTextBlock_lbl" xmlns="http://www.xbrl.org/2003/linkbase" />
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_RealEstateOwnedTextBlock_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase">Real Estate Owned [Text Block]</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="us-gaap_RealEstateOwnedTextBlock_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase">PROPERTY OWNED</label>
    <loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2016/elts/us-gaap-2016-01-31.xsd#us-gaap_GoodwillAndIntangibleAssetsDisclosureAbstract" xlink:label="us-gaap_GoodwillAndIntangibleAssetsDisclosureAbstract" xmlns="http://www.xbrl.org/2003/linkbase" />
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_GoodwillAndIntangibleAssetsDisclosureAbstract" xlink:to="us-gaap_GoodwillAndIntangibleAssetsDisclosureAbstract_lbl" xmlns="http://www.xbrl.org/2003/linkbase" />
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_GoodwillAndIntangibleAssetsDisclosureAbstract_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase">IDENTIFIED INTANGIBLE ASSETS AND LIABILITIES [Abstract]</label>
    <loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2016/elts/us-gaap-2016-01-31.xsd#us-gaap_IntangibleAssetsDisclosureTextBlock" xlink:label="us-gaap_IntangibleAssetsDisclosureTextBlock" xmlns="http://www.xbrl.org/2003/linkbase" />
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_IntangibleAssetsDisclosureTextBlock" xlink:to="us-gaap_IntangibleAssetsDisclosureTextBlock_lbl" xmlns="http://www.xbrl.org/2003/linkbase" />
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_IntangibleAssetsDisclosureTextBlock_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase">IDENTIFIED INTANGIBLE ASSETS AND LIABILITIES</label>
    <loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2016/elts/us-gaap-2016-01-31.xsd#us-gaap_NoncontrollingInterestAbstract" xlink:label="us-gaap_NoncontrollingInterestAbstract" xmlns="http://www.xbrl.org/2003/linkbase" />
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_NoncontrollingInterestAbstract" xlink:to="us-gaap_NoncontrollingInterestAbstract_lbl" xmlns="http://www.xbrl.org/2003/linkbase" />
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_NoncontrollingInterestAbstract_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase">NONCONTROLLING INTERESTS [Abstract]</label>
    <loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2016/elts/us-gaap-2016-01-31.xsd#us-gaap_MinorityInterestDisclosureTextBlock" xlink:label="us-gaap_MinorityInterestDisclosureTextBlock" xmlns="http://www.xbrl.org/2003/linkbase" />
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_MinorityInterestDisclosureTextBlock" xlink:to="us-gaap_MinorityInterestDisclosureTextBlock_lbl" xmlns="http://www.xbrl.org/2003/linkbase" />
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_MinorityInterestDisclosureTextBlock_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase">Noncontrolling Interest Disclosure [Text Block]</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="us-gaap_MinorityInterestDisclosureTextBlock_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase">NONCONTROLLING INTERESTS</label>
    <loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2016/elts/us-gaap-2016-01-31.xsd#us-gaap_LineOfCreditFacilityAbstract" xlink:label="us-gaap_LineOfCreditFacilityAbstract" xmlns="http://www.xbrl.org/2003/linkbase" />
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_LineOfCreditFacilityAbstract" xlink:to="us-gaap_LineOfCreditFacilityAbstract_lbl" xmlns="http://www.xbrl.org/2003/linkbase" />
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_LineOfCreditFacilityAbstract_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase">LINE OF CREDIT [Abstract]</label>
    <loc xlink:type="locator" xlink:href="iret-20170430.xsd#iret_LineOfCreditTextBlock" xlink:label="iret_LineOfCreditTextBlock" xmlns="http://www.xbrl.org/2003/linkbase" />
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="iret_LineOfCreditTextBlock" xlink:to="iret_LineOfCreditTextBlock_lbl" xmlns="http://www.xbrl.org/2003/linkbase" />
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="iret_LineOfCreditTextBlock_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase">The entire disclosure of short-term or long-term contractual arrangements with lenders, including letters of credit, standby letters of credit, and revolving credit arrangements, under which borrowings can be made up to maximum amount as of any point in time conditional on satisfaction of specified terms before, as of and after the date of drawdowns on the line.</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="iret_LineOfCreditTextBlock_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase">Line of Credit [Text Block]</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:label="iret_LineOfCreditTextBlock_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase">LINE OF CREDIT</label>
    <loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2016/elts/us-gaap-2016-01-31.xsd#us-gaap_DebtDisclosureAbstract" xlink:label="us-gaap_DebtDisclosureAbstract" xmlns="http://www.xbrl.org/2003/linkbase" />
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_DebtDisclosureAbstract" xlink:to="us-gaap_DebtDisclosureAbstract_lbl" xmlns="http://www.xbrl.org/2003/linkbase" />
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_DebtDisclosureAbstract_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase">MORTGAGES PAYABLE AND CONSTRUCTION DEBT [Abstract]</label>
    <loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2016/elts/us-gaap-2016-01-31.xsd#us-gaap_DebtDisclosureTextBlock" xlink:label="us-gaap_DebtDisclosureTextBlock" xmlns="http://www.xbrl.org/2003/linkbase" />
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_DebtDisclosureTextBlock" xlink:to="us-gaap_DebtDisclosureTextBlock_lbl" xmlns="http://www.xbrl.org/2003/linkbase" />
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_DebtDisclosureTextBlock_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase">Debt Disclosure [Text Block]</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="us-gaap_DebtDisclosureTextBlock_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase">MORTGAGES PAYABLE AND CONSTRUCTION DEBT</label>
    <loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2016/elts/us-gaap-2016-01-31.xsd#us-gaap_RelatedPartyTransactionsAbstract" xlink:label="us-gaap_RelatedPartyTransactionsAbstract" xmlns="http://www.xbrl.org/2003/linkbase" />
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_RelatedPartyTransactionsAbstract" xlink:to="us-gaap_RelatedPartyTransactionsAbstract_lbl" xmlns="http://www.xbrl.org/2003/linkbase" />
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_RelatedPartyTransactionsAbstract_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase">RELATED PARTY TRANSACTIONS [Abstract]</label>
    <loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2016/elts/us-gaap-2016-01-31.xsd#us-gaap_RelatedPartyTransactionsDisclosureTextBlock" xlink:label="us-gaap_RelatedPartyTransactionsDisclosureTextBlock" xmlns="http://www.xbrl.org/2003/linkbase" />
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_RelatedPartyTransactionsDisclosureTextBlock" xlink:to="us-gaap_RelatedPartyTransactionsDisclosureTextBlock_lbl" xmlns="http://www.xbrl.org/2003/linkbase" />
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_RelatedPartyTransactionsDisclosureTextBlock_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase">TRANSACTIONS WITH RELATED PARTIES</label>
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    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_RealEstateAndAccumulatedDepreciationDisclosureTextBlock_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase">SCHEDULE III - REAL ESTATE AND ACCUMULATED DEPRECIATION</label>
    <loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2016/elts/us-gaap-2016-01-31.xsd#us-gaap_BasisOfAccountingPolicyPolicyTextBlock" xlink:label="us-gaap_BasisOfAccountingPolicyPolicyTextBlock" xmlns="http://www.xbrl.org/2003/linkbase" />
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_BasisOfAccountingPolicyPolicyTextBlock" xlink:to="us-gaap_BasisOfAccountingPolicyPolicyTextBlock_lbl" xmlns="http://www.xbrl.org/2003/linkbase" />
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_BasisOfAccountingPolicyPolicyTextBlock_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase">Basis of Accounting, Policy [Policy Text Block]</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="us-gaap_BasisOfAccountingPolicyPolicyTextBlock_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase">BASIS OF PRESENTATION</label>
    <loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2016/elts/us-gaap-2016-01-31.xsd#us-gaap_NewAccountingPronouncementsPolicyPolicyTextBlock" xlink:label="us-gaap_NewAccountingPronouncementsPolicyPolicyTextBlock" xmlns="http://www.xbrl.org/2003/linkbase" />
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_NewAccountingPronouncementsPolicyPolicyTextBlock" xlink:to="us-gaap_NewAccountingPronouncementsPolicyPolicyTextBlock_lbl" xmlns="http://www.xbrl.org/2003/linkbase" />
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_NewAccountingPronouncementsPolicyPolicyTextBlock_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase">RECENT ACCOUNTING PRONOUNCEMENTS</label>
    <loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2016/elts/us-gaap-2016-01-31.xsd#us-gaap_UseOfEstimates" xlink:label="us-gaap_UseOfEstimates" xmlns="http://www.xbrl.org/2003/linkbase" />
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_UseOfEstimates" xlink:to="us-gaap_UseOfEstimates_lbl" xmlns="http://www.xbrl.org/2003/linkbase" />
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_UseOfEstimates_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase">USE OF ESTIMATES</label>
    <loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2016/elts/us-gaap-2016-01-31.xsd#us-gaap_PriorPeriodReclassificationAdjustmentDescription" xlink:label="us-gaap_PriorPeriodReclassificationAdjustmentDescription" xmlns="http://www.xbrl.org/2003/linkbase" />
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_PriorPeriodReclassificationAdjustmentDescription" xlink:to="us-gaap_PriorPeriodReclassificationAdjustmentDescription_lbl" xmlns="http://www.xbrl.org/2003/linkbase" />
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_PriorPeriodReclassificationAdjustmentDescription_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase">RECLASSIFICATIONS</label>
    <loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2016/elts/us-gaap-2016-01-31.xsd#us-gaap_RestatementToPriorYearIncomeTextBlock" xlink:label="us-gaap_RestatementToPriorYearIncomeTextBlock" xmlns="http://www.xbrl.org/2003/linkbase" />
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_RestatementToPriorYearIncomeTextBlock" xlink:to="us-gaap_RestatementToPriorYearIncomeTextBlock_lbl" xmlns="http://www.xbrl.org/2003/linkbase" />
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_RestatementToPriorYearIncomeTextBlock_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase">Restatement to Prior Year Income [Table Text Block]</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="us-gaap_RestatementToPriorYearIncomeTextBlock_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase">REVISION</label>
    <loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2016/elts/us-gaap-2016-01-31.xsd#us-gaap_RealEstatePolicyTextBlock" xlink:label="us-gaap_RealEstatePolicyTextBlock" xmlns="http://www.xbrl.org/2003/linkbase" />
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_RealEstatePolicyTextBlock" xlink:to="us-gaap_RealEstatePolicyTextBlock_lbl" xmlns="http://www.xbrl.org/2003/linkbase" />
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_RealEstatePolicyTextBlock_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase">Real Estate, Policy [Policy Text Block]</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="us-gaap_RealEstatePolicyTextBlock_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase">REAL ESTATE INVESTMENTS</label>
    <loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2016/elts/us-gaap-2016-01-31.xsd#us-gaap_RealEstateHeldForDevelopmentAndSalePolicy" xlink:label="us-gaap_RealEstateHeldForDevelopmentAndSalePolicy" xmlns="http://www.xbrl.org/2003/linkbase" />
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_RealEstateHeldForDevelopmentAndSalePolicy" xlink:to="us-gaap_RealEstateHeldForDevelopmentAndSalePolicy_lbl" xmlns="http://www.xbrl.org/2003/linkbase" />
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_RealEstateHeldForDevelopmentAndSalePolicy_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase">Real Estate Held for Development and Sale, Policy [Policy Text Block]</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="us-gaap_RealEstateHeldForDevelopmentAndSalePolicy_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase">REAL ESTATE HELD FOR SALE</label>
    <loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2016/elts/us-gaap-2016-01-31.xsd#us-gaap_GoodwillAndIntangibleAssetsPolicyTextBlock" xlink:label="us-gaap_GoodwillAndIntangibleAssetsPolicyTextBlock" xmlns="http://www.xbrl.org/2003/linkbase" />
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_GoodwillAndIntangibleAssetsPolicyTextBlock" xlink:to="us-gaap_GoodwillAndIntangibleAssetsPolicyTextBlock_lbl" xmlns="http://www.xbrl.org/2003/linkbase" />
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_GoodwillAndIntangibleAssetsPolicyTextBlock_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase">Goodwill and Intangible Assets, Policy [Policy Text Block]</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="us-gaap_GoodwillAndIntangibleAssetsPolicyTextBlock_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase">IDENTIFIED INTANGIBLE ASSETS AND LIABILITIES AND GOODWILL</label>
    <loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2016/elts/us-gaap-2016-01-31.xsd#us-gaap_PropertyPlantAndEquipmentPolicyTextBlock" xlink:label="us-gaap_PropertyPlantAndEquipmentPolicyTextBlock" xmlns="http://www.xbrl.org/2003/linkbase" />
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_PropertyPlantAndEquipmentPolicyTextBlock" xlink:to="us-gaap_PropertyPlantAndEquipmentPolicyTextBlock_lbl" xmlns="http://www.xbrl.org/2003/linkbase" />
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_PropertyPlantAndEquipmentPolicyTextBlock_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase">PROPERTY AND EQUIPMENT</label>
    <loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2016/elts/us-gaap-2016-01-31.xsd#us-gaap_CashAndCashEquivalentsPolicyTextBlock" xlink:label="us-gaap_CashAndCashEquivalentsPolicyTextBlock" xmlns="http://www.xbrl.org/2003/linkbase" />
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_CashAndCashEquivalentsPolicyTextBlock" xlink:to="us-gaap_CashAndCashEquivalentsPolicyTextBlock_lbl" xmlns="http://www.xbrl.org/2003/linkbase" />
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_CashAndCashEquivalentsPolicyTextBlock_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase">Cash and Cash Equivalents, Policy [Policy Text Block]</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="us-gaap_CashAndCashEquivalentsPolicyTextBlock_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase">CASH AND CASH EQUIVALENTS</label>
    <loc xlink:type="locator" xlink:href="iret-20170430.xsd#iret_CompensatingBalancesAndOtherInvestmentsLenderHoldbacksPolicyTextBlock" xlink:label="iret_CompensatingBalancesAndOtherInvestmentsLenderHoldbacksPolicyTextBlock" xmlns="http://www.xbrl.org/2003/linkbase" />
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="iret_CompensatingBalancesAndOtherInvestmentsLenderHoldbacksPolicyTextBlock" xlink:to="iret_CompensatingBalancesAndOtherInvestmentsLenderHoldbacksPolicyTextBlock_lbl" xmlns="http://www.xbrl.org/2003/linkbase" />
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="iret_CompensatingBalancesAndOtherInvestmentsLenderHoldbacksPolicyTextBlock_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase">Disclosure of accounting policy for compensating balances and other investments related to lender holdbacks.</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="iret_CompensatingBalancesAndOtherInvestmentsLenderHoldbacksPolicyTextBlock_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase">COMPENSATING BALANCES AND OTHER INVESTMENTS; LENDER HOLDBACKS [Policy Text Block]</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="iret_CompensatingBalancesAndOtherInvestmentsLenderHoldbacksPolicyTextBlock_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase">LENDER HOLDBACKS</label>
    <loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2016/elts/us-gaap-2016-01-31.xsd#us-gaap_RealEstateOwnedValuationAllowancePolicy" xlink:label="us-gaap_RealEstateOwnedValuationAllowancePolicy" xmlns="http://www.xbrl.org/2003/linkbase" />
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_RealEstateOwnedValuationAllowancePolicy" xlink:to="us-gaap_RealEstateOwnedValuationAllowancePolicy_lbl" xmlns="http://www.xbrl.org/2003/linkbase" />
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_RealEstateOwnedValuationAllowancePolicy_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase">ALLOWANCE FOR DOUBTFUL ACCOUNTS</label>
    <loc xlink:type="locator" xlink:href="iret-20170430.xsd#iret_TaxInsuranceAndOtherEscrowPolicyTextBlock" xlink:label="iret_TaxInsuranceAndOtherEscrowPolicyTextBlock" xmlns="http://www.xbrl.org/2003/linkbase" />
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="iret_TaxInsuranceAndOtherEscrowPolicyTextBlock" xlink:to="iret_TaxInsuranceAndOtherEscrowPolicyTextBlock_lbl" xmlns="http://www.xbrl.org/2003/linkbase" />
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="iret_TaxInsuranceAndOtherEscrowPolicyTextBlock_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase">Disclosure of accounting policy for tax, insurance, and other escrow.</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="iret_TaxInsuranceAndOtherEscrowPolicyTextBlock_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase">TAX, INSURANCE, AND OTHER ESCROW [Policy Text Block]</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="iret_TaxInsuranceAndOtherEscrowPolicyTextBlock_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase">TAX, INSURANCE, AND OTHER ESCROW</label>
    <loc xlink:type="locator" xlink:href="iret-20170430.xsd#iret_RealEstateDepositsPolicyTextBlock" xlink:label="iret_RealEstateDepositsPolicyTextBlock" xmlns="http://www.xbrl.org/2003/linkbase" />
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="iret_RealEstateDepositsPolicyTextBlock" xlink:to="iret_RealEstateDepositsPolicyTextBlock_lbl" xmlns="http://www.xbrl.org/2003/linkbase" />
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="iret_RealEstateDepositsPolicyTextBlock_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase">Disclosure of accounting policy for real estate deposits.</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="iret_RealEstateDepositsPolicyTextBlock_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase">REAL ESTATE DEPOSITS [Policy Text Block]</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="iret_RealEstateDepositsPolicyTextBlock_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase">REAL ESTATE DEPOSITS</label>
    <loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2016/elts/us-gaap-2016-01-31.xsd#us-gaap_DeferredChargesPolicyTextBlock" xlink:label="us-gaap_DeferredChargesPolicyTextBlock" xmlns="http://www.xbrl.org/2003/linkbase" />
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_DeferredChargesPolicyTextBlock" xlink:to="us-gaap_DeferredChargesPolicyTextBlock_lbl" xmlns="http://www.xbrl.org/2003/linkbase" />
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_DeferredChargesPolicyTextBlock_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase">DEFERRED CHARGES AND LEASING COSTS</label>
    <loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2016/elts/us-gaap-2016-01-31.xsd#us-gaap_IncomeTaxPolicyTextBlock" xlink:label="us-gaap_IncomeTaxPolicyTextBlock" xmlns="http://www.xbrl.org/2003/linkbase" />
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_IncomeTaxPolicyTextBlock" xlink:to="us-gaap_IncomeTaxPolicyTextBlock_lbl" xmlns="http://www.xbrl.org/2003/linkbase" />
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_IncomeTaxPolicyTextBlock_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase">Income Tax, Policy [Policy Text Block]</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="us-gaap_IncomeTaxPolicyTextBlock_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase">INCOME TAXES</label>
    <loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2016/elts/us-gaap-2016-01-31.xsd#us-gaap_RevenueRecognitionPolicyTextBlock" xlink:label="us-gaap_RevenueRecognitionPolicyTextBlock" xmlns="http://www.xbrl.org/2003/linkbase" />
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_RevenueRecognitionPolicyTextBlock" xlink:to="us-gaap_RevenueRecognitionPolicyTextBlock_lbl" xmlns="http://www.xbrl.org/2003/linkbase" />
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_RevenueRecognitionPolicyTextBlock_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase">REVENUE RECOGNITION</label>
    <loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2016/elts/us-gaap-2016-01-31.xsd#us-gaap_EarningsPerSharePolicyTextBlock" xlink:label="us-gaap_EarningsPerSharePolicyTextBlock" xmlns="http://www.xbrl.org/2003/linkbase" />
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_EarningsPerSharePolicyTextBlock" xlink:to="us-gaap_EarningsPerSharePolicyTextBlock_lbl" xmlns="http://www.xbrl.org/2003/linkbase" />
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_EarningsPerSharePolicyTextBlock_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase">NET INCOME PER SHARE</label>
    <loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2016/elts/us-gaap-2016-01-31.xsd#us-gaap_SaleLeasebackTransactionsPolicy" xlink:label="us-gaap_SaleLeasebackTransactionsPolicy" xmlns="http://www.xbrl.org/2003/linkbase" />
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_SaleLeasebackTransactionsPolicy" xlink:to="us-gaap_SaleLeasebackTransactionsPolicy_lbl" xmlns="http://www.xbrl.org/2003/linkbase" />
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_SaleLeasebackTransactionsPolicy_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase">Sale Leaseback Transactions, Policy [Policy Text Block]</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="us-gaap_SaleLeasebackTransactionsPolicy_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase">PROCEEDS FROM FINANCING LIABILITY</label>
    <loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2016/elts/us-gaap-2016-01-31.xsd#us-gaap_ConsolidationVariableInterestEntityPolicy" xlink:label="us-gaap_ConsolidationVariableInterestEntityPolicy" xmlns="http://www.xbrl.org/2003/linkbase" />
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_ConsolidationVariableInterestEntityPolicy" xlink:to="us-gaap_ConsolidationVariableInterestEntityPolicy_lbl" xmlns="http://www.xbrl.org/2003/linkbase" />
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_ConsolidationVariableInterestEntityPolicy_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase">Consolidation, Variable Interest Entity, Policy [Policy Text Block]</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="us-gaap_ConsolidationVariableInterestEntityPolicy_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase">VARIABLE INTEREST ENTITY</label>
    <loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2016/elts/us-gaap-2016-01-31.xsd#us-gaap_BusinessCombinationsPolicy" xlink:label="us-gaap_BusinessCombinationsPolicy" xmlns="http://www.xbrl.org/2003/linkbase" />
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_BusinessCombinationsPolicy" xlink:to="us-gaap_BusinessCombinationsPolicy_lbl" xmlns="http://www.xbrl.org/2003/linkbase" />
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_BusinessCombinationsPolicy_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase">Business Combinations Policy [Policy Text Block]</label>
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    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="us-gaap_ScheduleOfFairValueAssetsAndLiabilitiesMeasuredOnRecurringBasisTableTextBlock_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase">Estimated Fair Values of Financial Instruments</label>
    <loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2016/elts/us-gaap-2016-01-31.xsd#us-gaap_ScheduleOfQuarterlyFinancialInformationTableTextBlock" xlink:label="us-gaap_ScheduleOfQuarterlyFinancialInformationTableTextBlock" xmlns="http://www.xbrl.org/2003/linkbase" />
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    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="us-gaap_ScheduleOfQuarterlyFinancialInformationTableTextBlock_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase">Schedule of Quarterly Results of Consolidation Operations</label>
    <loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2016/elts/us-gaap-2016-01-31.xsd#us-gaap_RedeemableNoncontrollingInterestTableTextBlock" xlink:label="us-gaap_RedeemableNoncontrollingInterestTableTextBlock" xmlns="http://www.xbrl.org/2003/linkbase" />
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_RedeemableNoncontrollingInterestTableTextBlock" xlink:to="us-gaap_RedeemableNoncontrollingInterestTableTextBlock_lbl" xmlns="http://www.xbrl.org/2003/linkbase" />
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    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="us-gaap_RedeemableNoncontrollingInterestTableTextBlock_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase">Redeemable Noncontrolling Interest</label>
    <loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2016/elts/us-gaap-2016-01-31.xsd#us-gaap_ScheduleOfEmployeeServiceShareBasedCompensationAllocationOfRecognizedPeriodCostsTextBlock" xlink:label="us-gaap_ScheduleOfEmployeeServiceShareBasedCompensationAllocationOfRecognizedPeriodCostsTextBlock" xmlns="http://www.xbrl.org/2003/linkbase" />
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_ScheduleOfEmployeeServiceShareBasedCompensationAllocationOfRecognizedPeriodCostsTextBlock" xlink:to="us-gaap_ScheduleOfEmployeeServiceShareBasedCompensationAllocationOfRecognizedPeriodCostsTextBlock_lbl" xmlns="http://www.xbrl.org/2003/linkbase" />
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_ScheduleOfEmployeeServiceShareBasedCompensationAllocationOfRecognizedPeriodCostsTextBlock_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase">Schedule of Employee Service Share-based Compensation, Allocation of Recognized Period Costs [Table Text Block]</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="us-gaap_ScheduleOfEmployeeServiceShareBasedCompensationAllocationOfRecognizedPeriodCostsTextBlock_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase">Compensation Expense Recognized</label>
    <loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2016/elts/us-gaap-2016-01-31.xsd#us-gaap_ScheduleOfSharebasedCompensationRestrictedStockAndRestrictedStockUnitsActivityTableTextBlock" xlink:label="us-gaap_ScheduleOfSharebasedCompensationRestrictedStockAndRestrictedStockUnitsActivityTableTextBlock" xmlns="http://www.xbrl.org/2003/linkbase" />
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_ScheduleOfSharebasedCompensationRestrictedStockAndRestrictedStockUnitsActivityTableTextBlock" xlink:to="us-gaap_ScheduleOfSharebasedCompensationRestrictedStockAndRestrictedStockUnitsActivityTableTextBlock_lbl" xmlns="http://www.xbrl.org/2003/linkbase" />
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_ScheduleOfSharebasedCompensationRestrictedStockAndRestrictedStockUnitsActivityTableTextBlock_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase">Schedule of Restricted Share Awards Activity</label>
    <loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2016/elts/us-gaap-2016-01-31.xsd#us-gaap_ShareBasedCompensationPerformanceSharesAwardOutstandingActivityTableTextBlock" xlink:label="us-gaap_ShareBasedCompensationPerformanceSharesAwardOutstandingActivityTableTextBlock" xmlns="http://www.xbrl.org/2003/linkbase" />
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_ShareBasedCompensationPerformanceSharesAwardOutstandingActivityTableTextBlock" xlink:to="us-gaap_ShareBasedCompensationPerformanceSharesAwardOutstandingActivityTableTextBlock_lbl" xmlns="http://www.xbrl.org/2003/linkbase" />
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_ShareBasedCompensationPerformanceSharesAwardOutstandingActivityTableTextBlock_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase">Share-based Compensation, Performance Shares Award Outstanding Activity [Table Text Block]</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="us-gaap_ShareBasedCompensationPerformanceSharesAwardOutstandingActivityTableTextBlock_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase">Schedule of Grant Date Fair Value of Restricted Share Awards with Market Conditions</label>
    <loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2016/elts/us-gaap-2016-01-31.xsd#us-gaap_ShareBasedCompensationPerformanceSharesAwardUnvestedActivityTableTextBlock" xlink:label="us-gaap_ShareBasedCompensationPerformanceSharesAwardUnvestedActivityTableTextBlock" xmlns="http://www.xbrl.org/2003/linkbase" />
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_ShareBasedCompensationPerformanceSharesAwardUnvestedActivityTableTextBlock" xlink:to="us-gaap_ShareBasedCompensationPerformanceSharesAwardUnvestedActivityTableTextBlock_lbl" xmlns="http://www.xbrl.org/2003/linkbase" />
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_ShareBasedCompensationPerformanceSharesAwardUnvestedActivityTableTextBlock_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase">Share-based Compensation, Performance Shares Award Unvested Activity [Table Text Block]</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="us-gaap_ShareBasedCompensationPerformanceSharesAwardUnvestedActivityTableTextBlock_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase">Schedule of Unamortized value of Awards with Market Conditions</label>
    <loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2016/elts/us-gaap-2016-01-31.xsd#us-gaap_DividendsDeclaredTableTextBlock" xlink:label="us-gaap_DividendsDeclaredTableTextBlock" xmlns="http://www.xbrl.org/2003/linkbase" />
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_DividendsDeclaredTableTextBlock" xlink:to="us-gaap_DividendsDeclaredTableTextBlock_lbl" xmlns="http://www.xbrl.org/2003/linkbase" />
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_DividendsDeclaredTableTextBlock_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase">Dividends Declared [Table Text Block]</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="us-gaap_DividendsDeclaredTableTextBlock_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase">Common and Preferred Share Distributions</label>
    <loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2016/elts/us-gaap-2016-01-31.xsd#us-gaap_ScheduleOfRealEstatePropertiesTable" xlink:label="us-gaap_ScheduleOfRealEstatePropertiesTable" xmlns="http://www.xbrl.org/2003/linkbase" />
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_ScheduleOfRealEstatePropertiesTable" xlink:to="us-gaap_ScheduleOfRealEstatePropertiesTable_lbl" xmlns="http://www.xbrl.org/2003/linkbase" />
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_ScheduleOfRealEstatePropertiesTable_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase">Schedule of Real Estate Properties [Table]</label>
    <loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2016/elts/us-gaap-2016-01-31.xsd#us-gaap_RealEstatePropertiesAxis" xlink:label="us-gaap_RealEstatePropertiesAxis" xmlns="http://www.xbrl.org/2003/linkbase" />
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_RealEstatePropertiesAxis" xlink:to="us-gaap_RealEstatePropertiesAxis_lbl" xmlns="http://www.xbrl.org/2003/linkbase" />
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_RealEstatePropertiesAxis_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase">Real Estate Property Ownership [Axis]</label>
    <loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2016/elts/us-gaap-2016-01-31.xsd#us-gaap_RealEstatePropertiesDomain" xlink:label="us-gaap_RealEstatePropertiesDomain" xmlns="http://www.xbrl.org/2003/linkbase" />
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_RealEstatePropertiesDomain" xlink:to="us-gaap_RealEstatePropertiesDomain_lbl" xmlns="http://www.xbrl.org/2003/linkbase" />
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_RealEstatePropertiesDomain_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase">Real Estate Properties [Domain]</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="us-gaap_RealEstatePropertiesDomain_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase">Real Estate Properties [Domain]</label>
    <loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2016/elts/us-gaap-2016-01-31.xsd#us-gaap_ResidentialRealEstateMember" xlink:label="us-gaap_ResidentialRealEstateMember" xmlns="http://www.xbrl.org/2003/linkbase" />
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_ResidentialRealEstateMember" xlink:to="us-gaap_ResidentialRealEstateMember_lbl" xmlns="http://www.xbrl.org/2003/linkbase" />
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_ResidentialRealEstateMember_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase">Residential Real Estate [Member]</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="us-gaap_ResidentialRealEstateMember_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase">Multi-family Residential Properties [Member]</label>
    <loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2016/elts/us-gaap-2016-01-31.xsd#us-gaap_CommercialRealEstateMember" xlink:label="us-gaap_CommercialRealEstateMember" xmlns="http://www.xbrl.org/2003/linkbase" />
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_CommercialRealEstateMember" xlink:to="us-gaap_CommercialRealEstateMember_lbl" xmlns="http://www.xbrl.org/2003/linkbase" />
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_CommercialRealEstateMember_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase">Commercial Real Estate [Member]</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="us-gaap_CommercialRealEstateMember_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase">Commercial Properties [Member]</label>
    <loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2016/elts/us-gaap-2016-01-31.xsd#us-gaap_DisposalGroupClassificationAxis" xlink:label="us-gaap_DisposalGroupClassificationAxis" xmlns="http://www.xbrl.org/2003/linkbase" />
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_DisposalGroupClassificationAxis" xlink:to="us-gaap_DisposalGroupClassificationAxis_lbl" xmlns="http://www.xbrl.org/2003/linkbase" />
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_DisposalGroupClassificationAxis_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase">Disposal Group Classification [Axis]</label>
    <loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2016/elts/us-gaap-2016-01-31.xsd#us-gaap_DisposalGroupClassificationDomain" xlink:label="us-gaap_DisposalGroupClassificationDomain" xmlns="http://www.xbrl.org/2003/linkbase" />
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    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_DisposalGroupClassificationDomain_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase">Disposal Group Classification [Domain]</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="us-gaap_DisposalGroupClassificationDomain_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase">Disposal Group Classification [Domain]</label>
    <loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2016/elts/us-gaap-2016-01-31.xsd#us-gaap_DiscontinuedOperationsHeldforsaleMember" xlink:label="us-gaap_DiscontinuedOperationsHeldforsaleMember" xmlns="http://www.xbrl.org/2003/linkbase" />
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    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_DiscontinuedOperationsHeldforsaleMember_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase">Discontinued Operations Heldforsale [Member]</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="us-gaap_DiscontinuedOperationsHeldforsaleMember_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase">Discontinued Operations, Held-for-sale [Member]</label>
    <loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2016/elts/us-gaap-2016-01-31.xsd#us-gaap_RealEstatePropertiesLineItems" xlink:label="us-gaap_RealEstatePropertiesLineItems" xmlns="http://www.xbrl.org/2003/linkbase" />
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_RealEstatePropertiesLineItems" xlink:to="us-gaap_RealEstatePropertiesLineItems_lbl" xmlns="http://www.xbrl.org/2003/linkbase" />
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_RealEstatePropertiesLineItems_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase">Real Estate Properties [Line Items]</label>
    <loc xlink:type="locator" xlink:href="iret-20170430.xsd#iret_PercentageOfOrdinaryTaxableIncomeThatMustBeDistributedToShareholders" xlink:label="iret_PercentageOfOrdinaryTaxableIncomeThatMustBeDistributedToShareholders" xmlns="http://www.xbrl.org/2003/linkbase" />
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    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="iret_PercentageOfOrdinaryTaxableIncomeThatMustBeDistributedToShareholders_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase">Percentage of ordinary taxable income that must be distributed to shareholders</label>
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    <loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2016/elts/us-gaap-2016-01-31.xsd#us-gaap_NumberOfRealEstateProperties" xlink:label="us-gaap_NumberOfRealEstateProperties" xmlns="http://www.xbrl.org/2003/linkbase" />
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    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_NumberOfRealEstateProperties_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase">Number of real estate properties</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="us-gaap_NumberOfRealEstateProperties_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase">Number of properties</label>
    <loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2016/elts/us-gaap-2016-01-31.xsd#us-gaap_NumberOfUnitsInRealEstateProperty" xlink:label="us-gaap_NumberOfUnitsInRealEstateProperty" xmlns="http://www.xbrl.org/2003/linkbase" />
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_NumberOfUnitsInRealEstateProperty" xlink:to="us-gaap_NumberOfUnitsInRealEstateProperty_lbl" xmlns="http://www.xbrl.org/2003/linkbase" />
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_NumberOfUnitsInRealEstateProperty_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase">Number of units</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="us-gaap_NumberOfUnitsInRealEstateProperty_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase">Number of apartment units</label>
    <loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2016/elts/us-gaap-2016-01-31.xsd#us-gaap_NetRentableArea" xlink:label="us-gaap_NetRentableArea" xmlns="http://www.xbrl.org/2003/linkbase" />
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_NetRentableArea" xlink:to="us-gaap_NetRentableArea_lbl" xmlns="http://www.xbrl.org/2003/linkbase" />
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_NetRentableArea_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase">Net rentable area (in square feet)</label>
    <loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2016/elts/us-gaap-2016-01-31.xsd#us-gaap_DisposalGroupHeldforsaleNotDiscontinuedOperationsMember" xlink:label="us-gaap_DisposalGroupHeldforsaleNotDiscontinuedOperationsMember" xmlns="http://www.xbrl.org/2003/linkbase" />
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_DisposalGroupHeldforsaleNotDiscontinuedOperationsMember" xlink:to="us-gaap_DisposalGroupHeldforsaleNotDiscontinuedOperationsMember_lbl" xmlns="http://www.xbrl.org/2003/linkbase" />
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_DisposalGroupHeldforsaleNotDiscontinuedOperationsMember_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase">Disposal Group Heldforsale Not Discontinued Operations [Member]</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="us-gaap_DisposalGroupHeldforsaleNotDiscontinuedOperationsMember_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase">Assets Held for Sale [Member]</label>
    <loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2016/elts/us-gaap-2016-01-31.xsd#us-gaap_SegmentDiscontinuedOperationsMember" xlink:label="us-gaap_SegmentDiscontinuedOperationsMember" xmlns="http://www.xbrl.org/2003/linkbase" />
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_SegmentDiscontinuedOperationsMember" xlink:to="us-gaap_SegmentDiscontinuedOperationsMember_lbl" xmlns="http://www.xbrl.org/2003/linkbase" />
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_SegmentDiscontinuedOperationsMember_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase">Segment Discontinued Operations [Member]</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="us-gaap_SegmentDiscontinuedOperationsMember_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase">Discontinued Operations [Member]</label>
    <loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2016/elts/us-gaap-2016-01-31.xsd#us-gaap_MortgageLoansOnRealEstateDescriptionTypeOfPropertyAxis" xlink:label="us-gaap_MortgageLoansOnRealEstateDescriptionTypeOfPropertyAxis" xmlns="http://www.xbrl.org/2003/linkbase" />
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_MortgageLoansOnRealEstateDescriptionTypeOfPropertyAxis" xlink:to="us-gaap_MortgageLoansOnRealEstateDescriptionTypeOfPropertyAxis_lbl" xmlns="http://www.xbrl.org/2003/linkbase" />
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_MortgageLoansOnRealEstateDescriptionTypeOfPropertyAxis_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase">Real Estate, Type of Property [Axis]</label>
    <loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2016/elts/us-gaap-2016-01-31.xsd#us-gaap_MortgageLoansOnRealEstateNamePropertyTypeDomain" xlink:label="us-gaap_MortgageLoansOnRealEstateNamePropertyTypeDomain" xmlns="http://www.xbrl.org/2003/linkbase" />
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_MortgageLoansOnRealEstateNamePropertyTypeDomain" xlink:to="us-gaap_MortgageLoansOnRealEstateNamePropertyTypeDomain_lbl" xmlns="http://www.xbrl.org/2003/linkbase" />
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_MortgageLoansOnRealEstateNamePropertyTypeDomain_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase">Mortgage Loans On Real Estate Name Property Type [Domain]</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="us-gaap_MortgageLoansOnRealEstateNamePropertyTypeDomain_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase">Real Estate [Domain]</label>
    <loc xlink:type="locator" xlink:href="iret-20170430.xsd#iret_MultiFamilyResidentialMember" xlink:label="iret_MultiFamilyResidentialMember" xmlns="http://www.xbrl.org/2003/linkbase" />
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="iret_MultiFamilyResidentialMember" xlink:to="iret_MultiFamilyResidentialMember_lbl" xmlns="http://www.xbrl.org/2003/linkbase" />
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="iret_MultiFamilyResidentialMember_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase">A classification of real estate where multiple separate housing units for residential inhabitants are contained within one building or several buildings within one complex.</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="iret_MultiFamilyResidentialMember_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase">Multi Family Residential [Member]</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="iret_MultiFamilyResidentialMember_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase">Multi-Family Residential [Member]</label>
    <loc xlink:type="locator" xlink:href="iret-20170430.xsd#iret_UnimprovedLandMember" xlink:label="iret_UnimprovedLandMember" xmlns="http://www.xbrl.org/2003/linkbase" />
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="iret_UnimprovedLandMember" xlink:to="iret_UnimprovedLandMember_lbl" xmlns="http://www.xbrl.org/2003/linkbase" />
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="iret_UnimprovedLandMember_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase">A business segment for reporting the information separately.</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="iret_UnimprovedLandMember_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase">Unimproved Land [Member]</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="iret_UnimprovedLandMember_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase">Unimproved Land [Member]</label>
    <loc xlink:type="locator" xlink:href="iret-20170430.xsd#iret_CommercialHealthcareMember" xlink:label="iret_CommercialHealthcareMember" xmlns="http://www.xbrl.org/2003/linkbase" />
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="iret_CommercialHealthcareMember" xlink:to="iret_CommercialHealthcareMember_lbl" xmlns="http://www.xbrl.org/2003/linkbase" />
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="iret_CommercialHealthcareMember_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase">A classification of real estate for buildings, offices and campuses leased to members or organizations within the healthcare industry, but owned and operated by third party groups.</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="iret_CommercialHealthcareMember_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase">Commercial Healthcare [Member]</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="iret_CommercialHealthcareMember_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase">Commercial Healthcare [Member]</label>
    <loc xlink:type="locator" xlink:href="iret-20170430.xsd#iret_CommercialIndustrialMember" xlink:label="iret_CommercialIndustrialMember" xmlns="http://www.xbrl.org/2003/linkbase" />
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="iret_CommercialIndustrialMember" xlink:to="iret_CommercialIndustrialMember_lbl" xmlns="http://www.xbrl.org/2003/linkbase" />
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="iret_CommercialIndustrialMember_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase">A business segment for reporting the information separately.</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="iret_CommercialIndustrialMember_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase">Commercial Industrial [Member]</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="iret_CommercialIndustrialMember_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase">Industrial [Member]</label>
    <loc xlink:type="locator" xlink:href="iret-20170430.xsd#iret_CommercialOfficeMember" xlink:label="iret_CommercialOfficeMember" xmlns="http://www.xbrl.org/2003/linkbase" />
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="iret_CommercialOfficeMember" xlink:to="iret_CommercialOfficeMember_lbl" xmlns="http://www.xbrl.org/2003/linkbase" />
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="iret_CommercialOfficeMember_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase">A business segment for reporting the information separately.</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="iret_CommercialOfficeMember_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase">Commercial Office [Member]</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="iret_CommercialOfficeMember_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase">Office [Member]</label>
    <loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2016/elts/us-gaap-2016-01-31.xsd#us-gaap_RetailSiteMember" xlink:label="us-gaap_RetailSiteMember" xmlns="http://www.xbrl.org/2003/linkbase" />
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_RetailSiteMember" xlink:to="us-gaap_RetailSiteMember_lbl" xmlns="http://www.xbrl.org/2003/linkbase" />
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_RetailSiteMember_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase">Retail Site [Member]</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="us-gaap_RetailSiteMember_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase">Retail [Member]</label>
    <loc xlink:type="locator" xlink:href="iret-20170430.xsd#iret_OfficePropertyMember" xlink:label="iret_OfficePropertyMember" xmlns="http://www.xbrl.org/2003/linkbase" />
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="iret_OfficePropertyMember" xlink:to="iret_OfficePropertyMember_lbl" xmlns="http://www.xbrl.org/2003/linkbase" />
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="iret_OfficePropertyMember_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase">Property that is used for office purpose.</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="iret_OfficePropertyMember_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase">Office Property [Member]</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="iret_OfficePropertyMember_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase">Office Property [Member]</label>
    <loc xlink:type="locator" xlink:href="iret-20170430.xsd#iret_MedicalPropertyMember" xlink:label="iret_MedicalPropertyMember" xmlns="http://www.xbrl.org/2003/linkbase" />
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="iret_MedicalPropertyMember" xlink:to="iret_MedicalPropertyMember_lbl" xmlns="http://www.xbrl.org/2003/linkbase" />
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="iret_MedicalPropertyMember_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase">Property that is used for medical purpose.</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="iret_MedicalPropertyMember_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase">Medical Property [Member]</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="iret_MedicalPropertyMember_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase">Medical Property [Member]</label>
    <loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2016/elts/us-gaap-2016-01-31.xsd#us-gaap_RealEstateAndAccumulatedDepreciationDescriptionOfPropertyAxis" xlink:label="us-gaap_RealEstateAndAccumulatedDepreciationDescriptionOfPropertyAxis" xmlns="http://www.xbrl.org/2003/linkbase" />
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_RealEstateAndAccumulatedDepreciationDescriptionOfPropertyAxis" xlink:to="us-gaap_RealEstateAndAccumulatedDepreciationDescriptionOfPropertyAxis_lbl" xmlns="http://www.xbrl.org/2003/linkbase" />
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_RealEstateAndAccumulatedDepreciationDescriptionOfPropertyAxis_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase">Name of Property [Axis]</label>
    <loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2016/elts/us-gaap-2016-01-31.xsd#us-gaap_RealEstateAndAccumulatedDepreciationNameOfPropertyDomain" xlink:label="us-gaap_RealEstateAndAccumulatedDepreciationNameOfPropertyDomain" xmlns="http://www.xbrl.org/2003/linkbase" />
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_RealEstateAndAccumulatedDepreciationNameOfPropertyDomain" xlink:to="us-gaap_RealEstateAndAccumulatedDepreciationNameOfPropertyDomain_lbl" xmlns="http://www.xbrl.org/2003/linkbase" />
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_RealEstateAndAccumulatedDepreciationNameOfPropertyDomain_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase">Real Estate And Accumulated Depreciation Name Of Property [Domain]</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="us-gaap_RealEstateAndAccumulatedDepreciationNameOfPropertyDomain_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase">Name of Property [Domain]</label>
    <loc xlink:type="locator" xlink:href="iret-20170430.xsd#iret_EdenPrairieMinnesotaMember" xlink:label="iret_EdenPrairieMinnesotaMember" xmlns="http://www.xbrl.org/2003/linkbase" />
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="iret_EdenPrairieMinnesotaMember" xlink:to="iret_EdenPrairieMinnesotaMember_lbl" xmlns="http://www.xbrl.org/2003/linkbase" />
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="iret_EdenPrairieMinnesotaMember_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase">Name of the property located in Eden Prairie, Minnesota.</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="iret_EdenPrairieMinnesotaMember_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase">Eden Prairie Minnesota [Member]</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="iret_EdenPrairieMinnesotaMember_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase">Eden Prairie Minnesota Member</label>
    <loc xlink:type="locator" xlink:href="iret-20170430.xsd#iret_SartellMinnesotaMember" xlink:label="iret_SartellMinnesotaMember" xmlns="http://www.xbrl.org/2003/linkbase" />
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="iret_SartellMinnesotaMember" xlink:to="iret_SartellMinnesotaMember_lbl" xmlns="http://www.xbrl.org/2003/linkbase" />
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="iret_SartellMinnesotaMember_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase">Healthcare property located in Sartell, Minnesota.</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="iret_SartellMinnesotaMember_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase">Sartell Minnesota [Member]</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="iret_SartellMinnesotaMember_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase">Sartell, Minnesota, Healthcare Property [Member]</label>
    <loc xlink:type="locator" xlink:href="iret-20170430.xsd#iret_GrandChuteWisconsinUnimprovedLandMember" xlink:label="iret_GrandChuteWisconsinUnimprovedLandMember" xmlns="http://www.xbrl.org/2003/linkbase" />
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="iret_GrandChuteWisconsinUnimprovedLandMember" xlink:to="iret_GrandChuteWisconsinUnimprovedLandMember_lbl" xmlns="http://www.xbrl.org/2003/linkbase" />
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="iret_GrandChuteWisconsinUnimprovedLandMember_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase">Grand Chute, Wisconsin, unimproved land</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="iret_GrandChuteWisconsinUnimprovedLandMember_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase">Grand Chute Wisconsin Unimproved Land [Member]</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="iret_GrandChuteWisconsinUnimprovedLandMember_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase">Grand Chute, Wisconsin, Unimproved Land [Member]</label>
    <loc xlink:type="locator" xlink:href="iret-20170430.xsd#iret_StCloudMinnesotaMember" xlink:label="iret_StCloudMinnesotaMember" xmlns="http://www.xbrl.org/2003/linkbase" />
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="iret_StCloudMinnesotaMember" xlink:to="iret_StCloudMinnesotaMember_lbl" xmlns="http://www.xbrl.org/2003/linkbase" />
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="iret_StCloudMinnesotaMember_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase">The name of property located in St. Cloud, Minnesota.</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="iret_StCloudMinnesotaMember_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase">St Cloud Minnesota [Member]</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="iret_StCloudMinnesotaMember_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase">St Cloud Minnesota Member</label>
    <loc xlink:type="locator" xlink:href="iret-20170430.xsd#iret_RiverFallsWisconsinMember" xlink:label="iret_RiverFallsWisconsinMember" xmlns="http://www.xbrl.org/2003/linkbase" />
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="iret_RiverFallsWisconsinMember" xlink:to="iret_RiverFallsWisconsinMember_lbl" xmlns="http://www.xbrl.org/2003/linkbase" />
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="iret_RiverFallsWisconsinMember_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase">The name of property located in River Falls, Wisconsin.</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="iret_RiverFallsWisconsinMember_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase">River Falls Wisconsin [Member]</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="iret_RiverFallsWisconsinMember_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase">River Falls Wisconsin Member</label>
    <loc xlink:type="locator" xlink:href="iret-20170430.xsd#iret_KalispellMontanaRetailMember" xlink:label="iret_KalispellMontanaRetailMember" xmlns="http://www.xbrl.org/2003/linkbase" />
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="iret_KalispellMontanaRetailMember" xlink:to="iret_KalispellMontanaRetailMember_lbl" xmlns="http://www.xbrl.org/2003/linkbase" />
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="iret_KalispellMontanaRetailMember_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase">Kalispell, Montana, retail</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="iret_KalispellMontanaRetailMember_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase">Kalispell Montana Retail [Member]</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="iret_KalispellMontanaRetailMember_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase">Kalispell, Montana, Retail Property [Member]</label>
    <loc xlink:type="locator" xlink:href="iret-20170430.xsd#iret_GoldenValleyMinnesotaMember" xlink:label="iret_GoldenValleyMinnesotaMember" xmlns="http://www.xbrl.org/2003/linkbase" />
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="iret_GoldenValleyMinnesotaMember" xlink:to="iret_GoldenValleyMinnesotaMember_lbl" xmlns="http://www.xbrl.org/2003/linkbase" />
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="iret_GoldenValleyMinnesotaMember_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase">Office located in Golden Valley, Minnesota.</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="iret_GoldenValleyMinnesotaMember_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase">Golden Valley Minnesota [Member]</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="iret_GoldenValleyMinnesotaMember_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase">Golden Valley, Minnesota [Member]</label>
    <loc xlink:type="locator" xlink:href="iret-20170430.xsd#iret_MinneapolisMinnesotaOfficePropertyMember" xlink:label="iret_MinneapolisMinnesotaOfficePropertyMember" xmlns="http://www.xbrl.org/2003/linkbase" />
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="iret_MinneapolisMinnesotaOfficePropertyMember" xlink:to="iret_MinneapolisMinnesotaOfficePropertyMember_lbl" xmlns="http://www.xbrl.org/2003/linkbase" />
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="iret_MinneapolisMinnesotaOfficePropertyMember_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase">Minneapolis, Minnesota, office property</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="iret_MinneapolisMinnesotaOfficePropertyMember_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase">Minneapolis Minnesota Office Property [Member]</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="iret_MinneapolisMinnesotaOfficePropertyMember_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase">Minneapolis, Minnesota, Office Property [Member]</label>
    <loc xlink:type="locator" xlink:href="iret-20170430.xsd#iret_BoiseIdahoOfficePropertyMember" xlink:label="iret_BoiseIdahoOfficePropertyMember" xmlns="http://www.xbrl.org/2003/linkbase" />
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="iret_BoiseIdahoOfficePropertyMember" xlink:to="iret_BoiseIdahoOfficePropertyMember_lbl" xmlns="http://www.xbrl.org/2003/linkbase" />
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="iret_BoiseIdahoOfficePropertyMember_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase">Boise, Idaho, office property</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="iret_BoiseIdahoOfficePropertyMember_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase">Boise Idaho Office Property [Member]</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="iret_BoiseIdahoOfficePropertyMember_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase">Boise, Idaho, Office Property [Member]</label>
    <loc xlink:type="locator" xlink:href="iret-20170430.xsd#iret_EaganMinnesotaUnimprovedLandMember" xlink:label="iret_EaganMinnesotaUnimprovedLandMember" xmlns="http://www.xbrl.org/2003/linkbase" />
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="iret_EaganMinnesotaUnimprovedLandMember" xlink:to="iret_EaganMinnesotaUnimprovedLandMember_lbl" xmlns="http://www.xbrl.org/2003/linkbase" />
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="iret_EaganMinnesotaUnimprovedLandMember_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase">Eagan, Minnesota, unimproved land</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="iret_EaganMinnesotaUnimprovedLandMember_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase">Eagan Minnesota Unimproved Land [Member]</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="iret_EaganMinnesotaUnimprovedLandMember_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase">Eagan, Minnesota, Unimproved Land [Member]</label>
    <loc xlink:type="locator" xlink:href="iret-20170430.xsd#iret_WestonWisconsinUnimprovedLandMember" xlink:label="iret_WestonWisconsinUnimprovedLandMember" xmlns="http://www.xbrl.org/2003/linkbase" />
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="iret_WestonWisconsinUnimprovedLandMember" xlink:to="iret_WestonWisconsinUnimprovedLandMember_lbl" xmlns="http://www.xbrl.org/2003/linkbase" />
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="iret_WestonWisconsinUnimprovedLandMember_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase">Weston, Wisconsin, unimproved land</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="iret_WestonWisconsinUnimprovedLandMember_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase">Weston Wisconsin Unimproved Land [Member]</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="iret_WestonWisconsinUnimprovedLandMember_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase">Weston, Wisconsin, Unimproved Land [Member]</label>
    <loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2016/elts/us-gaap-2016-01-31.xsd#us-gaap_PropertyPlantAndEquipmentByTypeAxis" xlink:label="us-gaap_PropertyPlantAndEquipmentByTypeAxis" xmlns="http://www.xbrl.org/2003/linkbase" />
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_PropertyPlantAndEquipmentByTypeAxis" xlink:to="us-gaap_PropertyPlantAndEquipmentByTypeAxis_lbl" xmlns="http://www.xbrl.org/2003/linkbase" />
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_PropertyPlantAndEquipmentByTypeAxis_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase">Property, Plant and Equipment, Type [Axis]</label>
    <loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2016/elts/us-gaap-2016-01-31.xsd#us-gaap_PropertyPlantAndEquipmentTypeDomain" xlink:label="us-gaap_PropertyPlantAndEquipmentTypeDomain" xmlns="http://www.xbrl.org/2003/linkbase" />
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_PropertyPlantAndEquipmentTypeDomain" xlink:to="us-gaap_PropertyPlantAndEquipmentTypeDomain_lbl" xmlns="http://www.xbrl.org/2003/linkbase" />
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_PropertyPlantAndEquipmentTypeDomain_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase">Property Plant And Equipment Type [Domain]</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="us-gaap_PropertyPlantAndEquipmentTypeDomain_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase">Property, Plant and Equipment, Type [Domain]</label>
    <loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2016/elts/us-gaap-2016-01-31.xsd#us-gaap_BuildingAndBuildingImprovementsMember" xlink:label="us-gaap_BuildingAndBuildingImprovementsMember" xmlns="http://www.xbrl.org/2003/linkbase" />
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_BuildingAndBuildingImprovementsMember" xlink:to="us-gaap_BuildingAndBuildingImprovementsMember_lbl" xmlns="http://www.xbrl.org/2003/linkbase" />
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_BuildingAndBuildingImprovementsMember_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase">Building And Building Improvements [Member]</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="us-gaap_BuildingAndBuildingImprovementsMember_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase">Buildings and Improvements [Member]</label>
    <loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2016/elts/us-gaap-2016-01-31.xsd#us-gaap_FurnitureAndFixturesMember" xlink:label="us-gaap_FurnitureAndFixturesMember" xmlns="http://www.xbrl.org/2003/linkbase" />
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_FurnitureAndFixturesMember" xlink:to="us-gaap_FurnitureAndFixturesMember_lbl" xmlns="http://www.xbrl.org/2003/linkbase" />
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_FurnitureAndFixturesMember_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase">Furniture And Fixtures [Member]</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="us-gaap_FurnitureAndFixturesMember_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase">Furniture, Fixtures and Equipment [Member]</label>
    <loc xlink:type="locator" xlink:href="iret-20170430.xsd#iret_RenovationsAndImprovementsMember" xlink:label="iret_RenovationsAndImprovementsMember" xmlns="http://www.xbrl.org/2003/linkbase" />
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="iret_RenovationsAndImprovementsMember" xlink:to="iret_RenovationsAndImprovementsMember_lbl" xmlns="http://www.xbrl.org/2003/linkbase" />
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="iret_RenovationsAndImprovementsMember_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase">Other facility held for productive use including, but not limited to, office, production, storage and distribution facilities and any addition, improvement, or renovation to the structure, for example, but not limited to, interior masonry, interior flooring, electrical, and plumbing.</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="iret_RenovationsAndImprovementsMember_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase">Renovations And Improvements [Member]</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="iret_RenovationsAndImprovementsMember_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase">Renovations and Improvements [Member]</label>
    <loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2016/elts/us-gaap-2016-01-31.xsd#us-gaap_RangeAxis" xlink:label="us-gaap_RangeAxis" xmlns="http://www.xbrl.org/2003/linkbase" />
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_RangeAxis" xlink:to="us-gaap_RangeAxis_lbl" xmlns="http://www.xbrl.org/2003/linkbase" />
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_RangeAxis_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase">Range [Axis]</label>
    <loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2016/elts/us-gaap-2016-01-31.xsd#us-gaap_RangeMember" xlink:label="us-gaap_RangeMember" xmlns="http://www.xbrl.org/2003/linkbase" />
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_RangeMember" xlink:to="us-gaap_RangeMember_lbl" xmlns="http://www.xbrl.org/2003/linkbase" />
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_RangeMember_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase">Range [Member]</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="us-gaap_RangeMember_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase">Range [Domain]</label>
    <loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2016/elts/us-gaap-2016-01-31.xsd#us-gaap_MinimumMember" xlink:label="us-gaap_MinimumMember" xmlns="http://www.xbrl.org/2003/linkbase" />
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_MinimumMember" xlink:to="us-gaap_MinimumMember_lbl" xmlns="http://www.xbrl.org/2003/linkbase" />
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_MinimumMember_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase">Minimum [Member]</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="us-gaap_MinimumMember_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase">Minimum [Member]</label>
    <loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2016/elts/us-gaap-2016-01-31.xsd#us-gaap_MaximumMember" xlink:label="us-gaap_MaximumMember" xmlns="http://www.xbrl.org/2003/linkbase" />
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_MaximumMember" xlink:to="us-gaap_MaximumMember_lbl" xmlns="http://www.xbrl.org/2003/linkbase" />
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_MaximumMember_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase">Maximum [Member]</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="us-gaap_MaximumMember_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase">Maximum [Member]</label>
    <loc xlink:type="locator" xlink:href="iret-20170430.xsd#iret_BasisOfPresentationAbstract" xlink:label="iret_BasisOfPresentationAbstract" xmlns="http://www.xbrl.org/2003/linkbase" />
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="iret_BasisOfPresentationAbstract" xlink:to="iret_BasisOfPresentationAbstract_lbl" xmlns="http://www.xbrl.org/2003/linkbase" />
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="iret_BasisOfPresentationAbstract_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase">BASIS OF PRESENTATION [Abstract]</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="iret_BasisOfPresentationAbstract_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase">BASIS OF PRESENTATION [Abstract]</label>
    <loc xlink:type="locator" xlink:href="iret-20170430.xsd#iret_InterestInOperatingPartnership" xlink:label="iret_InterestInOperatingPartnership" xmlns="http://www.xbrl.org/2003/linkbase" />
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="iret_InterestInOperatingPartnership" xlink:to="iret_InterestInOperatingPartnership_lbl" xmlns="http://www.xbrl.org/2003/linkbase" />
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="iret_InterestInOperatingPartnership_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase">The entity's ownership interest in the operating partnership.</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="iret_InterestInOperatingPartnership_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase">Interest in operating partnership</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="iret_InterestInOperatingPartnership_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase">Interest in operating partnership (in hundredths)</label>
    <loc xlink:type="locator" xlink:href="iret-20170430.xsd#iret_PercentageOfGeneralInterestPartnership" xlink:label="iret_PercentageOfGeneralInterestPartnership" xmlns="http://www.xbrl.org/2003/linkbase" />
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="iret_PercentageOfGeneralInterestPartnership" xlink:to="iret_PercentageOfGeneralInterestPartnership_lbl" xmlns="http://www.xbrl.org/2003/linkbase" />
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="iret_PercentageOfGeneralInterestPartnership_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase">The entity's ownership interest in the general partnership included in operating partnership interest.</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="iret_PercentageOfGeneralInterestPartnership_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase">Percentage of general interest partnership</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="iret_PercentageOfGeneralInterestPartnership_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase">Percentage of general interest partnership (in hundredths)</label>
    <loc xlink:type="locator" xlink:href="iret-20170430.xsd#iret_RedemptionBasis" xlink:label="iret_RedemptionBasis" xmlns="http://www.xbrl.org/2003/linkbase" />
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="iret_RedemptionBasis" xlink:to="iret_RedemptionBasis_lbl" xmlns="http://www.xbrl.org/2003/linkbase" />
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="iret_RedemptionBasis_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase">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.</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="iret_RedemptionBasis_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase">Redemption basis</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="iret_RedemptionBasis_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase">Redemption basis</label>
    <loc xlink:type="locator" xlink:href="iret-20170430.xsd#iret_RedemptionsByLimitedPartnerMaximum" xlink:label="iret_RedemptionsByLimitedPartnerMaximum" xmlns="http://www.xbrl.org/2003/linkbase" />
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="iret_RedemptionsByLimitedPartnerMaximum" xlink:to="iret_RedemptionsByLimitedPartnerMaximum_lbl" xmlns="http://www.xbrl.org/2003/linkbase" />
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="iret_RedemptionsByLimitedPartnerMaximum_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase">The maximum number of redemptions by a limited partner that may occur in a calendar year.</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="iret_RedemptionsByLimitedPartnerMaximum_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase">Redemptions by limited partner, maximum</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="iret_RedemptionsByLimitedPartnerMaximum_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase">Redemptions by limited partner, maximum</label>
    <loc xlink:type="locator" xlink:href="iret-20170430.xsd#iret_NumberOfUnitsToRedeemMinimum" xlink:label="iret_NumberOfUnitsToRedeemMinimum" xmlns="http://www.xbrl.org/2003/linkbase" />
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="iret_NumberOfUnitsToRedeemMinimum" xlink:to="iret_NumberOfUnitsToRedeemMinimum_lbl" xmlns="http://www.xbrl.org/2003/linkbase" />
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="iret_NumberOfUnitsToRedeemMinimum_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase">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.</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="iret_NumberOfUnitsToRedeemMinimum_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase">Number of units to redeem, minimum</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="iret_NumberOfUnitsToRedeemMinimum_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase">Number of units to redeem, minimum (in units)</label>
    <loc xlink:type="locator" xlink:href="iret-20170430.xsd#iret_PeriodToHoldBeneficialInterestMinimum" xlink:label="iret_PeriodToHoldBeneficialInterestMinimum" xmlns="http://www.xbrl.org/2003/linkbase" />
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="iret_PeriodToHoldBeneficialInterestMinimum" xlink:to="iret_PeriodToHoldBeneficialInterestMinimum_lbl" xmlns="http://www.xbrl.org/2003/linkbase" />
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="iret_PeriodToHoldBeneficialInterestMinimum_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase">The minimum period for which some limited partners have contractually agreed to hold the beneficial interest.</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="iret_PeriodToHoldBeneficialInterestMinimum_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase">Period to hold the beneficial interest, minimum</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="iret_PeriodToHoldBeneficialInterestMinimum_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase">Period to hold the beneficial interest, minimum</label>
    <loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2016/elts/us-gaap-2016-01-31.xsd#us-gaap_AssetImpairmentChargesAbstract" xlink:label="us-gaap_AssetImpairmentChargesAbstract" xmlns="http://www.xbrl.org/2003/linkbase" />
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_AssetImpairmentChargesAbstract" xlink:to="us-gaap_AssetImpairmentChargesAbstract_lbl" xmlns="http://www.xbrl.org/2003/linkbase" />
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_AssetImpairmentChargesAbstract_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase">Asset Impairment Charges [Abstract]</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="us-gaap_AssetImpairmentChargesAbstract_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase">IMPAIRMENT OF LONG-LIVED ASSETS [Abstract]</label>
    <loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2016/elts/us-gaap-2016-01-31.xsd#us-gaap_EquityMethodInvestmentOwnershipPercentage" xlink:label="us-gaap_EquityMethodInvestmentOwnershipPercentage" xmlns="http://www.xbrl.org/2003/linkbase" />
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_EquityMethodInvestmentOwnershipPercentage" xlink:to="us-gaap_EquityMethodInvestmentOwnershipPercentage_lbl" xmlns="http://www.xbrl.org/2003/linkbase" />
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_EquityMethodInvestmentOwnershipPercentage_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase">Interest in joint venture (in hundredths)</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="us-gaap_EquityMethodInvestmentOwnershipPercentage_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase">Interest in joint venture (in hundredths)</label>
    <loc xlink:type="locator" xlink:href="iret-20170430.xsd#iret_NumberOfImpairedProperties" xlink:label="iret_NumberOfImpairedProperties" xmlns="http://www.xbrl.org/2003/linkbase" />
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="iret_NumberOfImpairedProperties" xlink:to="iret_NumberOfImpairedProperties_lbl" xmlns="http://www.xbrl.org/2003/linkbase" />
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="iret_NumberOfImpairedProperties_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase">The number of impaired properties for the fiscal year.</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="iret_NumberOfImpairedProperties_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase">Number of impaired properties</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="iret_NumberOfImpairedProperties_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase">Number of impaired properties</label>
    <loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2016/elts/us-gaap-2016-01-31.xsd#us-gaap_AssetsHeldForSaleNotPartOfDisposalGroupAbstract" xlink:label="us-gaap_AssetsHeldForSaleNotPartOfDisposalGroupAbstract" xmlns="http://www.xbrl.org/2003/linkbase" />
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_AssetsHeldForSaleNotPartOfDisposalGroupAbstract" xlink:to="us-gaap_AssetsHeldForSaleNotPartOfDisposalGroupAbstract_lbl" xmlns="http://www.xbrl.org/2003/linkbase" />
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_AssetsHeldForSaleNotPartOfDisposalGroupAbstract_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase">Assets Held-for-sale, Not Part of Disposal Group [Abstract]</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="us-gaap_AssetsHeldForSaleNotPartOfDisposalGroupAbstract_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase">Held for Sale [Abstract]</label>
    <loc xlink:type="locator" xlink:href="iret-20170430.xsd#iret_NumberOfRealEstatePropertiesClassifiedAsHeldForSale" xlink:label="iret_NumberOfRealEstatePropertiesClassifiedAsHeldForSale" xmlns="http://www.xbrl.org/2003/linkbase" />
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="iret_NumberOfRealEstatePropertiesClassifiedAsHeldForSale" xlink:to="iret_NumberOfRealEstatePropertiesClassifiedAsHeldForSale_lbl" xmlns="http://www.xbrl.org/2003/linkbase" />
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="iret_NumberOfRealEstatePropertiesClassifiedAsHeldForSale_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase">Number of real estate properties classified as held for sale.</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="iret_NumberOfRealEstatePropertiesClassifiedAsHeldForSale_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase">Number of real estate properties classified as held for sale</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="iret_NumberOfRealEstatePropertiesClassifiedAsHeldForSale_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase">Number of real estate properties classified as held for sale</label>
    <loc xlink:type="locator" xlink:href="iret-20170430.xsd#iret_IdentifiedIntangibleAssetsAndIntangibleLiabilitiesAndGoodwillAbstract" xlink:label="iret_IdentifiedIntangibleAssetsAndIntangibleLiabilitiesAndGoodwillAbstract" xmlns="http://www.xbrl.org/2003/linkbase" />
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="iret_IdentifiedIntangibleAssetsAndIntangibleLiabilitiesAndGoodwillAbstract" xlink:to="iret_IdentifiedIntangibleAssetsAndIntangibleLiabilitiesAndGoodwillAbstract_lbl" xmlns="http://www.xbrl.org/2003/linkbase" />
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="iret_IdentifiedIntangibleAssetsAndIntangibleLiabilitiesAndGoodwillAbstract_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase">IDENTIFIED INTANGIBLE ASSETS AND INTANGIBLE LIABILITIES AND GOODWILL [Abstract]</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:label="iret_IdentifiedIntangibleAssetsAndIntangibleLiabilitiesAndGoodwillAbstract_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase">IDENTIFIED INTANGIBLE ASSETS AND LIABILITIES AND GOODWILL [Abstract]</label>
    <loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2016/elts/us-gaap-2016-01-31.xsd#us-gaap_FinitelivedIntangibleAssetsAcquired1" xlink:label="us-gaap_FinitelivedIntangibleAssetsAcquired1" xmlns="http://www.xbrl.org/2003/linkbase" />
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_FinitelivedIntangibleAssetsAcquired1" xlink:to="us-gaap_FinitelivedIntangibleAssetsAcquired1_lbl" xmlns="http://www.xbrl.org/2003/linkbase" />
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_FinitelivedIntangibleAssetsAcquired1_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase">Finite-lived Intangible Assets Acquired</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="us-gaap_FinitelivedIntangibleAssetsAcquired1_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase">New intangible assets</label>
    <loc xlink:type="locator" xlink:href="iret-20170430.xsd#iret_AdditionToIntangibleLiabilities" xlink:label="iret_AdditionToIntangibleLiabilities" xmlns="http://www.xbrl.org/2003/linkbase" />
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="iret_AdditionToIntangibleLiabilities" xlink:to="iret_AdditionToIntangibleLiabilities_lbl" xmlns="http://www.xbrl.org/2003/linkbase" />
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="iret_AdditionToIntangibleLiabilities_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase">Addition to intangible liabilities during the period.</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="iret_AdditionToIntangibleLiabilities_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase">Addition to intangible liabilities</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="iret_AdditionToIntangibleLiabilities_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase">Addition to intangible liabilities</label>
    <loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2016/elts/us-gaap-2016-01-31.xsd#us-gaap_AcquiredFiniteLivedIntangibleAssetsWeightedAverageUsefulLife" xlink:label="us-gaap_AcquiredFiniteLivedIntangibleAssetsWeightedAverageUsefulLife" xmlns="http://www.xbrl.org/2003/linkbase" />
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_AcquiredFiniteLivedIntangibleAssetsWeightedAverageUsefulLife" xlink:to="us-gaap_AcquiredFiniteLivedIntangibleAssetsWeightedAverageUsefulLife_lbl" xmlns="http://www.xbrl.org/2003/linkbase" />
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_AcquiredFiniteLivedIntangibleAssetsWeightedAverageUsefulLife_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase">Weighted average lives of intangible assets acquired</label>
    <loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2016/elts/us-gaap-2016-01-31.xsd#us-gaap_GoodwillImpairmentLoss" xlink:label="us-gaap_GoodwillImpairmentLoss" xmlns="http://www.xbrl.org/2003/linkbase" />
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_GoodwillImpairmentLoss" xlink:to="us-gaap_GoodwillImpairmentLoss_lbl" xmlns="http://www.xbrl.org/2003/linkbase" />
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_GoodwillImpairmentLoss_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase">Goodwill, Impairment Loss</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="us-gaap_GoodwillImpairmentLoss_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase">Recognized impairment goodwill</label>
    <loc xlink:type="locator" xlink:href="iret-20170430.xsd#iret_NumberOfRealEstatePropertiesDisposed" xlink:label="iret_NumberOfRealEstatePropertiesDisposed" xmlns="http://www.xbrl.org/2003/linkbase" />
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="iret_NumberOfRealEstatePropertiesDisposed" xlink:to="iret_NumberOfRealEstatePropertiesDisposed_lbl" xmlns="http://www.xbrl.org/2003/linkbase" />
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="iret_NumberOfRealEstatePropertiesDisposed_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase">The number of real estate properties disposed as of the balance sheet date.</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="iret_NumberOfRealEstatePropertiesDisposed_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase">Number Of Real Estate Properties Disposed</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="iret_NumberOfRealEstatePropertiesDisposed_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase">Number of real estate properties disposed</label>
    <loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2016/elts/us-gaap-2016-01-31.xsd#us-gaap_GoodwillWrittenOffRelatedToSaleOfBusinessUnit" xlink:label="us-gaap_GoodwillWrittenOffRelatedToSaleOfBusinessUnit" xmlns="http://www.xbrl.org/2003/linkbase" />
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_GoodwillWrittenOffRelatedToSaleOfBusinessUnit" xlink:to="us-gaap_GoodwillWrittenOffRelatedToSaleOfBusinessUnit_lbl" xmlns="http://www.xbrl.org/2003/linkbase" />
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_GoodwillWrittenOffRelatedToSaleOfBusinessUnit_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase">Goodwill derecognized</label>
    <loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2016/elts/us-gaap-2016-01-31.xsd#us-gaap_PropertyPlantAndEquipmentAbstract" xlink:label="us-gaap_PropertyPlantAndEquipmentAbstract" xmlns="http://www.xbrl.org/2003/linkbase" />
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_PropertyPlantAndEquipmentAbstract" xlink:to="us-gaap_PropertyPlantAndEquipmentAbstract_lbl" xmlns="http://www.xbrl.org/2003/linkbase" />
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_PropertyPlantAndEquipmentAbstract_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase">Property, Plant and Equipment [Abstract]</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="us-gaap_PropertyPlantAndEquipmentAbstract_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase">PROPERTY AND EQUIPMENT [Abstract]</label>
    <loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2016/elts/us-gaap-2016-01-31.xsd#us-gaap_PropertyPlantAndEquipmentGross" xlink:label="us-gaap_PropertyPlantAndEquipmentGross" xmlns="http://www.xbrl.org/2003/linkbase" />
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_PropertyPlantAndEquipmentGross" xlink:to="us-gaap_PropertyPlantAndEquipmentGross_lbl" xmlns="http://www.xbrl.org/2003/linkbase" />
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_PropertyPlantAndEquipmentGross_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase">Property, Plant and Equipment, Gross</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="us-gaap_PropertyPlantAndEquipmentGross_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase">Property and equipment cost</label>
    <loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2016/elts/us-gaap-2016-01-31.xsd#us-gaap_DepositAssetsDisclosureAbstract" xlink:label="us-gaap_DepositAssetsDisclosureAbstract" xmlns="http://www.xbrl.org/2003/linkbase" />
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_DepositAssetsDisclosureAbstract" xlink:to="us-gaap_DepositAssetsDisclosureAbstract_lbl" xmlns="http://www.xbrl.org/2003/linkbase" />
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_DepositAssetsDisclosureAbstract_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase">Deposit Assets Disclosure [Abstract]</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="us-gaap_DepositAssetsDisclosureAbstract_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase">REAL ESTATE DEPOSITS [Abstract]</label>
    <loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2016/elts/us-gaap-2016-01-31.xsd#us-gaap_EscrowDeposit" xlink:label="us-gaap_EscrowDeposit" xmlns="http://www.xbrl.org/2003/linkbase" />
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_EscrowDeposit" xlink:to="us-gaap_EscrowDeposit_lbl" xmlns="http://www.xbrl.org/2003/linkbase" />
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_EscrowDeposit_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase">Investment allocation, escrow deposit</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="us-gaap_EscrowDeposit_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase">Deposits held in escrow</label>
    <loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2016/elts/us-gaap-2016-01-31.xsd#us-gaap_IncomeTaxDisclosureAbstract" xlink:label="us-gaap_IncomeTaxDisclosureAbstract" xmlns="http://www.xbrl.org/2003/linkbase" />
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_IncomeTaxDisclosureAbstract" xlink:to="us-gaap_IncomeTaxDisclosureAbstract_lbl" xmlns="http://www.xbrl.org/2003/linkbase" />
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_IncomeTaxDisclosureAbstract_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase">Income Tax Disclosure [Abstract]</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="us-gaap_IncomeTaxDisclosureAbstract_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase">INCOME TAXES [Abstract]</label>
    <loc xlink:type="locator" xlink:href="iret-20170430.xsd#iret_MinimumDividendDistributionPercentage" xlink:label="iret_MinimumDividendDistributionPercentage" xmlns="http://www.xbrl.org/2003/linkbase" />
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="iret_MinimumDividendDistributionPercentage" xlink:to="iret_MinimumDividendDistributionPercentage_lbl" xmlns="http://www.xbrl.org/2003/linkbase" />
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="iret_MinimumDividendDistributionPercentage_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase">The minimum dividend distribution percentage under section 856-860 of Internal Revenue Code of 1986, as amended.</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="iret_MinimumDividendDistributionPercentage_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase">Minimum dividend distribution percentage</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="iret_MinimumDividendDistributionPercentage_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase">Minimum dividend distribution percentage (in hundredths)</label>
    <loc xlink:type="locator" xlink:href="iret-20170430.xsd#iret_DividendDistributionPercentage" xlink:label="iret_DividendDistributionPercentage" xmlns="http://www.xbrl.org/2003/linkbase" />
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="iret_DividendDistributionPercentage" xlink:to="iret_DividendDistributionPercentage_lbl" xmlns="http://www.xbrl.org/2003/linkbase" />
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="iret_DividendDistributionPercentage_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase">The dividend distributed (in percentage) made by the entity during the year.</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="iret_DividendDistributionPercentage_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase">Dividend distribution percentage</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="iret_DividendDistributionPercentage_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase">Dividend distribution percentage (in hundredths)</label>
    <loc xlink:type="locator" xlink:href="iret-20170430.xsd#iret_DistributionMadeUnderFederalIncomeTax" xlink:label="iret_DistributionMadeUnderFederalIncomeTax" xmlns="http://www.xbrl.org/2003/linkbase" />
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    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="iret_DistributionMadeUnderFederalIncomeTax_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase">Distribution made by the entity under federal income tax.</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="iret_DistributionMadeUnderFederalIncomeTax_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase">Distribution made under federal income tax</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="iret_DistributionMadeUnderFederalIncomeTax_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase">Distribution of federal income tax (in hundredths)</label>
    <loc xlink:type="locator" xlink:href="iret-20170430.xsd#iret_DistributionMadeUnderCapitalGain" xlink:label="iret_DistributionMadeUnderCapitalGain" xmlns="http://www.xbrl.org/2003/linkbase" />
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="iret_DistributionMadeUnderCapitalGain" xlink:to="iret_DistributionMadeUnderCapitalGain_lbl" xmlns="http://www.xbrl.org/2003/linkbase" />
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="iret_DistributionMadeUnderCapitalGain_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase">Distribution made by the entity under capital gain .</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="iret_DistributionMadeUnderCapitalGain_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase">Distribution made under capital gain</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="iret_DistributionMadeUnderCapitalGain_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase">Distribution of capital gain (in hundredths)</label>
    <loc xlink:type="locator" xlink:href="iret-20170430.xsd#iret_DistributionMadeAsReturnOfCapital" xlink:label="iret_DistributionMadeAsReturnOfCapital" xmlns="http://www.xbrl.org/2003/linkbase" />
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="iret_DistributionMadeAsReturnOfCapital" xlink:to="iret_DistributionMadeAsReturnOfCapital_lbl" xmlns="http://www.xbrl.org/2003/linkbase" />
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="iret_DistributionMadeAsReturnOfCapital_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase">The distribution made by the entity as return of capital.</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="iret_DistributionMadeAsReturnOfCapital_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase">Distribution made as return of capital</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="iret_DistributionMadeAsReturnOfCapital_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase">Distribution made as return of capital (in hundredths)</label>
    <loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2016/elts/us-gaap-2016-01-31.xsd#us-gaap_PriorPeriodAdjustmentAbstract" xlink:label="us-gaap_PriorPeriodAdjustmentAbstract" xmlns="http://www.xbrl.org/2003/linkbase" />
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_PriorPeriodAdjustmentAbstract" xlink:to="us-gaap_PriorPeriodAdjustmentAbstract_lbl" xmlns="http://www.xbrl.org/2003/linkbase" />
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_PriorPeriodAdjustmentAbstract_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase">Prior Period Adjustment [Abstract]</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="us-gaap_PriorPeriodAdjustmentAbstract_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase">REVISION [Abstract]</label>
    <loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2016/elts/us-gaap-2016-01-31.xsd#us-gaap_RealEstateInvestmentsAbstract" xlink:label="us-gaap_RealEstateInvestmentsAbstract" xmlns="http://www.xbrl.org/2003/linkbase" />
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_RealEstateInvestmentsAbstract" xlink:to="us-gaap_RealEstateInvestmentsAbstract_lbl" xmlns="http://www.xbrl.org/2003/linkbase" />
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_RealEstateInvestmentsAbstract_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase">Real Estate Investments, Net [Abstract]</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="us-gaap_RealEstateInvestmentsAbstract_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase">REAL ESTATE INVESTMENTS [Abstract]</label>
    <loc xlink:type="locator" xlink:href="iret-20170430.xsd#iret_NumberOfYearAfterDateOfAcquisitionRelatedToAdjustmentOfRealEstatePreliminaryAllocationsOfPurchasePrice" xlink:label="iret_NumberOfYearAfterDateOfAcquisitionRelatedToAdjustmentOfRealEstatePreliminaryAllocationsOfPurchasePrice" xmlns="http://www.xbrl.org/2003/linkbase" />
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="iret_NumberOfYearAfterDateOfAcquisitionRelatedToAdjustmentOfRealEstatePreliminaryAllocationsOfPurchasePrice" xlink:to="iret_NumberOfYearAfterDateOfAcquisitionRelatedToAdjustmentOfRealEstatePreliminaryAllocationsOfPurchasePrice_lbl" xmlns="http://www.xbrl.org/2003/linkbase" />
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="iret_NumberOfYearAfterDateOfAcquisitionRelatedToAdjustmentOfRealEstatePreliminaryAllocationsOfPurchasePrice_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase">The number of year after the date of acquisition related to adjustment of real estate preliminary allocations of the purchase price.</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="iret_NumberOfYearAfterDateOfAcquisitionRelatedToAdjustmentOfRealEstatePreliminaryAllocationsOfPurchasePrice_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase">Number of year after date of acquisition related to adjustment of real estate preliminary allocations of purchase price</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="iret_NumberOfYearAfterDateOfAcquisitionRelatedToAdjustmentOfRealEstatePreliminaryAllocationsOfPurchasePrice_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase">Number of year after date of acquisition related to adjustment of real estate preliminary allocations of purchase price</label>
    <loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2016/elts/us-gaap-2016-01-31.xsd#us-gaap_RealEstateAndAccumulatedDepreciationLifeUsedForDepreciation1" xlink:label="us-gaap_RealEstateAndAccumulatedDepreciationLifeUsedForDepreciation1" xmlns="http://www.xbrl.org/2003/linkbase" />
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_RealEstateAndAccumulatedDepreciationLifeUsedForDepreciation1" xlink:to="us-gaap_RealEstateAndAccumulatedDepreciationLifeUsedForDepreciation1_lbl" xmlns="http://www.xbrl.org/2003/linkbase" />
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_RealEstateAndAccumulatedDepreciationLifeUsedForDepreciation1_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase">Estimated useful life of assets (in years)</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="us-gaap_RealEstateAndAccumulatedDepreciationLifeUsedForDepreciation1_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase">Life on which depreciation in latest income statement is computed</label>
    <loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2016/elts/us-gaap-2016-01-31.xsd#us-gaap_DebtInstrumentMaturityDate" xlink:label="us-gaap_DebtInstrumentMaturityDate" xmlns="http://www.xbrl.org/2003/linkbase" />
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_DebtInstrumentMaturityDate" xlink:to="us-gaap_DebtInstrumentMaturityDate_lbl" xmlns="http://www.xbrl.org/2003/linkbase" />
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_DebtInstrumentMaturityDate_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase">Debt Instrument, Maturity Date</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="us-gaap_DebtInstrumentMaturityDate_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase">Maturity date</label>
    <loc xlink:type="locator" xlink:href="iret-20170430.xsd#iret_CompensatingBalancesAndOtherInvestmentsLenderHoldbacksAbstract" xlink:label="iret_CompensatingBalancesAndOtherInvestmentsLenderHoldbacksAbstract" xmlns="http://www.xbrl.org/2003/linkbase" />
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="iret_CompensatingBalancesAndOtherInvestmentsLenderHoldbacksAbstract" xlink:to="iret_CompensatingBalancesAndOtherInvestmentsLenderHoldbacksAbstract_lbl" xmlns="http://www.xbrl.org/2003/linkbase" />
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="iret_CompensatingBalancesAndOtherInvestmentsLenderHoldbacksAbstract_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase">COMPENSATING BALANCES AND OTHER INVESTMENTS LENDER HOLDBACKS [Abstract]</label>
    <loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2016/elts/us-gaap-2016-01-31.xsd#us-gaap_ScheduleOfCompensatingBalancesTable" xlink:label="us-gaap_ScheduleOfCompensatingBalancesTable" xmlns="http://www.xbrl.org/2003/linkbase" />
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_ScheduleOfCompensatingBalancesTable" xlink:to="us-gaap_ScheduleOfCompensatingBalancesTable_lbl" xmlns="http://www.xbrl.org/2003/linkbase" />
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_ScheduleOfCompensatingBalancesTable_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase">Schedule of Compensating Balances [Table]</label>
    <loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2016/elts/us-gaap-2016-01-31.xsd#us-gaap_CompensatingBalancesLineItems" xlink:label="us-gaap_CompensatingBalancesLineItems" xmlns="http://www.xbrl.org/2003/linkbase" />
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_CompensatingBalancesLineItems" xlink:to="us-gaap_CompensatingBalancesLineItems_lbl" xmlns="http://www.xbrl.org/2003/linkbase" />
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_CompensatingBalancesLineItems_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase">Compensating Balances [Line Items]</label>
    <loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2016/elts/us-gaap-2016-01-31.xsd#us-gaap_CompensatingBalanceAmount" xlink:label="us-gaap_CompensatingBalanceAmount" xmlns="http://www.xbrl.org/2003/linkbase" />
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_CompensatingBalanceAmount" xlink:to="us-gaap_CompensatingBalanceAmount_lbl" xmlns="http://www.xbrl.org/2003/linkbase" />
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_CompensatingBalanceAmount_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase">Compensating balance</label>
    <loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2016/elts/us-gaap-2016-01-31.xsd#us-gaap_AccountsNotesLoansAndFinancingReceivableGrossAllowanceAndNetAbstract" xlink:label="us-gaap_AccountsNotesLoansAndFinancingReceivableGrossAllowanceAndNetAbstract" xmlns="http://www.xbrl.org/2003/linkbase" />
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_AccountsNotesLoansAndFinancingReceivableGrossAllowanceAndNetAbstract" xlink:to="us-gaap_AccountsNotesLoansAndFinancingReceivableGrossAllowanceAndNetAbstract_lbl" xmlns="http://www.xbrl.org/2003/linkbase" />
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_AccountsNotesLoansAndFinancingReceivableGrossAllowanceAndNetAbstract_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase">ALLOWANCE FOR DOUBTFUL ACCOUNTS [Abstract]</label>
    <loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2016/elts/us-gaap-2016-01-31.xsd#us-gaap_ValuationAndQualifyingAccountsDisclosureTable" xlink:label="us-gaap_ValuationAndQualifyingAccountsDisclosureTable" xmlns="http://www.xbrl.org/2003/linkbase" />
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_ValuationAndQualifyingAccountsDisclosureTable" xlink:to="us-gaap_ValuationAndQualifyingAccountsDisclosureTable_lbl" xmlns="http://www.xbrl.org/2003/linkbase" />
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_ValuationAndQualifyingAccountsDisclosureTable_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase">Valuation and Qualifying Accounts Disclosure [Table]</label>
    <loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2016/elts/us-gaap-2016-01-31.xsd#us-gaap_ValuationAllowancesAndReservesTypeAxis" xlink:label="us-gaap_ValuationAllowancesAndReservesTypeAxis" xmlns="http://www.xbrl.org/2003/linkbase" />
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_ValuationAllowancesAndReservesTypeAxis" xlink:to="us-gaap_ValuationAllowancesAndReservesTypeAxis_lbl" xmlns="http://www.xbrl.org/2003/linkbase" />
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_ValuationAllowancesAndReservesTypeAxis_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase">Valuation Allowances and Reserves Type [Axis]</label>
    <loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2016/elts/us-gaap-2016-01-31.xsd#us-gaap_ValuationAllowancesAndReservesDomain" xlink:label="us-gaap_ValuationAllowancesAndReservesDomain" xmlns="http://www.xbrl.org/2003/linkbase" />
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_ValuationAllowancesAndReservesDomain" xlink:to="us-gaap_ValuationAllowancesAndReservesDomain_lbl" xmlns="http://www.xbrl.org/2003/linkbase" />
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_ValuationAllowancesAndReservesDomain_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase">Valuation Allowances And Reserves [Domain]</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="us-gaap_ValuationAllowancesAndReservesDomain_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase">Valuation Allowances and Reserves [Domain]</label>
    <loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2016/elts/us-gaap-2016-01-31.xsd#us-gaap_AllowanceForDoubtfulAccountsMember" xlink:label="us-gaap_AllowanceForDoubtfulAccountsMember" xmlns="http://www.xbrl.org/2003/linkbase" />
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_AllowanceForDoubtfulAccountsMember" xlink:to="us-gaap_AllowanceForDoubtfulAccountsMember_lbl" xmlns="http://www.xbrl.org/2003/linkbase" />
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_AllowanceForDoubtfulAccountsMember_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase">Allowance For Doubtful Accounts [Member]</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="us-gaap_AllowanceForDoubtfulAccountsMember_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase">Allowance for Doubtful Accounts [Member]</label>
    <loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2016/elts/us-gaap-2016-01-31.xsd#us-gaap_ValuationAndQualifyingAccountsDisclosureLineItems" xlink:label="us-gaap_ValuationAndQualifyingAccountsDisclosureLineItems" xmlns="http://www.xbrl.org/2003/linkbase" />
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_ValuationAndQualifyingAccountsDisclosureLineItems" xlink:to="us-gaap_ValuationAndQualifyingAccountsDisclosureLineItems_lbl" xmlns="http://www.xbrl.org/2003/linkbase" />
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_ValuationAndQualifyingAccountsDisclosureLineItems_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase">Valuation and Qualifying Accounts Disclosure [Line Items]</label>
    <loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2016/elts/us-gaap-2016-01-31.xsd#us-gaap_AllowanceForDoubtfulAccountsReceivableRollforward" xlink:label="us-gaap_AllowanceForDoubtfulAccountsReceivableRollforward" xmlns="http://www.xbrl.org/2003/linkbase" />
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_AllowanceForDoubtfulAccountsReceivableRollforward" xlink:to="us-gaap_AllowanceForDoubtfulAccountsReceivableRollforward_lbl" xmlns="http://www.xbrl.org/2003/linkbase" />
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_AllowanceForDoubtfulAccountsReceivableRollforward_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase">Allowance for Doubtful Accounts Receivable [Roll Forward]</label>
    <loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2016/elts/us-gaap-2016-01-31.xsd#us-gaap_AllowanceForDoubtfulAccountsReceivableWriteOffs" xlink:label="us-gaap_AllowanceForDoubtfulAccountsReceivableWriteOffs" xmlns="http://www.xbrl.org/2003/linkbase" />
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_AllowanceForDoubtfulAccountsReceivableWriteOffs" xlink:to="us-gaap_AllowanceForDoubtfulAccountsReceivableWriteOffs_lbl" xmlns="http://www.xbrl.org/2003/linkbase" />
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_AllowanceForDoubtfulAccountsReceivableWriteOffs_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase">Allowance for Doubtful Accounts Receivable, Write-offs</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2009/role/negatedLabel" xlink:label="us-gaap_AllowanceForDoubtfulAccountsReceivableWriteOffs_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase">Write-off</label>
    <loc xlink:type="locator" xlink:href="iret-20170430.xsd#iret_ProceedsFromFinancingLiabilityAbstract" xlink:label="iret_ProceedsFromFinancingLiabilityAbstract" xmlns="http://www.xbrl.org/2003/linkbase" />
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="iret_ProceedsFromFinancingLiabilityAbstract" xlink:to="iret_ProceedsFromFinancingLiabilityAbstract_lbl" xmlns="http://www.xbrl.org/2003/linkbase" />
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="iret_ProceedsFromFinancingLiabilityAbstract_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase">Proceeds From Financing Liability [Abstract]</label>
    <loc xlink:type="locator" xlink:href="iret-20170430.xsd#iret_OtherLiabilitiesTable" xlink:label="iret_OtherLiabilitiesTable" xmlns="http://www.xbrl.org/2003/linkbase" />
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="iret_OtherLiabilitiesTable" xlink:to="iret_OtherLiabilitiesTable_lbl" xmlns="http://www.xbrl.org/2003/linkbase" />
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="iret_OtherLiabilitiesTable_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase">Tabular Disclosure of Other Liabilities</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="iret_OtherLiabilitiesTable_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase">Other Liabilities [Table]</label>
    <loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2016/elts/us-gaap-2016-01-31.xsd#us-gaap_BalanceSheetLocationAxis" xlink:label="us-gaap_BalanceSheetLocationAxis" xmlns="http://www.xbrl.org/2003/linkbase" />
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_BalanceSheetLocationAxis" xlink:to="us-gaap_BalanceSheetLocationAxis_lbl" xmlns="http://www.xbrl.org/2003/linkbase" />
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_BalanceSheetLocationAxis_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase">Balance Sheet Location [Axis]</label>
    <loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2016/elts/us-gaap-2016-01-31.xsd#us-gaap_BalanceSheetLocationDomain" xlink:label="us-gaap_BalanceSheetLocationDomain" xmlns="http://www.xbrl.org/2003/linkbase" />
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_BalanceSheetLocationDomain" xlink:to="us-gaap_BalanceSheetLocationDomain_lbl" xmlns="http://www.xbrl.org/2003/linkbase" />
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_BalanceSheetLocationDomain_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase">Balance Sheet Location [Domain]</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="us-gaap_BalanceSheetLocationDomain_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase">Balance Sheet Location [Domain]</label>
    <loc xlink:type="locator" xlink:href="iret-20170430.xsd#iret_FinancingLiabilityMember" xlink:label="iret_FinancingLiabilityMember" xmlns="http://www.xbrl.org/2003/linkbase" />
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="iret_FinancingLiabilityMember" xlink:to="iret_FinancingLiabilityMember_lbl" xmlns="http://www.xbrl.org/2003/linkbase" />
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="iret_FinancingLiabilityMember_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase">Financing Liability</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="iret_FinancingLiabilityMember_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase">Financing Liability [Member]</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="iret_FinancingLiabilityMember_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase">Financing Liability [Member]</label>
    <loc xlink:type="locator" xlink:href="iret-20170430.xsd#iret_OtherLiabilitiesLineItems" xlink:label="iret_OtherLiabilitiesLineItems" xmlns="http://www.xbrl.org/2003/linkbase" />
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="iret_OtherLiabilitiesLineItems" xlink:to="iret_OtherLiabilitiesLineItems_lbl" xmlns="http://www.xbrl.org/2003/linkbase" />
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="iret_OtherLiabilitiesLineItems_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase">Line items represent financial concepts included in a table. These concepts are used to disclose reportable information associated with domain members defined in one or many axes to the table.</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="iret_OtherLiabilitiesLineItems_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase">Other Liabilities [Line Items]</label>
    <loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2016/elts/us-gaap-2016-01-31.xsd#us-gaap_SaleLeasebackTransactionGrossProceedsFinancingActivities" xlink:label="us-gaap_SaleLeasebackTransactionGrossProceedsFinancingActivities" xmlns="http://www.xbrl.org/2003/linkbase" />
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_SaleLeasebackTransactionGrossProceedsFinancingActivities" xlink:to="us-gaap_SaleLeasebackTransactionGrossProceedsFinancingActivities_lbl" xmlns="http://www.xbrl.org/2003/linkbase" />
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_SaleLeasebackTransactionGrossProceedsFinancingActivities_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase">Sale Leaseback Transaction, Gross Proceeds, Financing Activities</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="us-gaap_SaleLeasebackTransactionGrossProceedsFinancingActivities_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase">Proceeds from sale of property</label>
    <loc xlink:type="locator" xlink:href="iret-20170430.xsd#iret_SaleLeasebackTransactionAmountOfDeedContract" xlink:label="iret_SaleLeasebackTransactionAmountOfDeedContract" xmlns="http://www.xbrl.org/2003/linkbase" />
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="iret_SaleLeasebackTransactionAmountOfDeedContract" xlink:to="iret_SaleLeasebackTransactionAmountOfDeedContract_lbl" xmlns="http://www.xbrl.org/2003/linkbase" />
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="iret_SaleLeasebackTransactionAmountOfDeedContract_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase">The amount of deed contract related to the sale of non-core assisted living property that was subsequently leased back to the seller with an option to repurchase the property at a specified price.</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="iret_SaleLeasebackTransactionAmountOfDeedContract_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase">Sale Leaseback Transaction Amount Of Deed Contract</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="iret_SaleLeasebackTransactionAmountOfDeedContract_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase">Contract for deed</label>
    <loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2016/elts/us-gaap-2016-01-31.xsd#us-gaap_SaleLeasebackTransactionAmountDueUnderFinancingArrangement" xlink:label="us-gaap_SaleLeasebackTransactionAmountDueUnderFinancingArrangement" xmlns="http://www.xbrl.org/2003/linkbase" />
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_SaleLeasebackTransactionAmountDueUnderFinancingArrangement" xlink:to="us-gaap_SaleLeasebackTransactionAmountDueUnderFinancingArrangement_lbl" xmlns="http://www.xbrl.org/2003/linkbase" />
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_SaleLeasebackTransactionAmountDueUnderFinancingArrangement_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase">Sale lease-back recorded in other liabilities</label>
    <loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2016/elts/us-gaap-2016-01-31.xsd#us-gaap_OtherLiabilities" xlink:label="us-gaap_OtherLiabilities" xmlns="http://www.xbrl.org/2003/linkbase" />
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_OtherLiabilities" xlink:to="us-gaap_OtherLiabilities_lbl" xmlns="http://www.xbrl.org/2003/linkbase" />
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_OtherLiabilities_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase">Other Liabilities</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="us-gaap_OtherLiabilities_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase">Financing liability balance</label>
    <loc xlink:type="locator" xlink:href="iret-20170430.xsd#iret_InvoluntaryConversionOfAssetsAbstract" xlink:label="iret_InvoluntaryConversionOfAssetsAbstract" xmlns="http://www.xbrl.org/2003/linkbase" />
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="iret_InvoluntaryConversionOfAssetsAbstract" xlink:to="iret_InvoluntaryConversionOfAssetsAbstract_lbl" xmlns="http://www.xbrl.org/2003/linkbase" />
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="iret_InvoluntaryConversionOfAssetsAbstract_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase">INVOLUNTARY CONVERSION OF ASSETS [Abstract]</label>
    <loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2016/elts/us-gaap-2016-01-31.xsd#us-gaap_UnusualOrInfrequentItemTable" xlink:label="us-gaap_UnusualOrInfrequentItemTable" xmlns="http://www.xbrl.org/2003/linkbase" />
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_UnusualOrInfrequentItemTable" xlink:to="us-gaap_UnusualOrInfrequentItemTable_lbl" xmlns="http://www.xbrl.org/2003/linkbase" />
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_UnusualOrInfrequentItemTable_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase">Unusual or Infrequent Item [Table]</label>
    <loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2016/elts/us-gaap-2016-01-31.xsd#us-gaap_BusinessAcquisitionAxis" xlink:label="us-gaap_BusinessAcquisitionAxis" xmlns="http://www.xbrl.org/2003/linkbase" />
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_BusinessAcquisitionAxis" xlink:to="us-gaap_BusinessAcquisitionAxis_lbl" xmlns="http://www.xbrl.org/2003/linkbase" />
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_BusinessAcquisitionAxis_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase">Business Acquisition [Axis]</label>
    <loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2016/elts/us-gaap-2016-01-31.xsd#us-gaap_BusinessAcquisitionAcquireeDomain" xlink:label="us-gaap_BusinessAcquisitionAcquireeDomain" xmlns="http://www.xbrl.org/2003/linkbase" />
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_BusinessAcquisitionAcquireeDomain" xlink:to="us-gaap_BusinessAcquisitionAcquireeDomain_lbl" xmlns="http://www.xbrl.org/2003/linkbase" />
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_BusinessAcquisitionAcquireeDomain_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase">Business Acquisition Acquiree [Domain]</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="us-gaap_BusinessAcquisitionAcquireeDomain_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase">Business Acquisition, Acquiree [Domain]</label>
    <loc xlink:type="locator" xlink:href="iret-20170430.xsd#iret_AvalonCoveRochesterMnUnitsMember" xlink:label="iret_AvalonCoveRochesterMnUnitsMember" xmlns="http://www.xbrl.org/2003/linkbase" />
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="iret_AvalonCoveRochesterMnUnitsMember" xlink:to="iret_AvalonCoveRochesterMnUnitsMember_lbl" xmlns="http://www.xbrl.org/2003/linkbase" />
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="iret_AvalonCoveRochesterMnUnitsMember_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase">Refers to Avalon Cove, Rochester, MN Units.</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="iret_AvalonCoveRochesterMnUnitsMember_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase">Avalon Cove Rochester Mn Units [Member]</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="iret_AvalonCoveRochesterMnUnitsMember_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase">187 unit - Avalon Cove - Rochester, MN [Member]</label>
    <loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2016/elts/us-gaap-2016-01-31.xsd#us-gaap_UnusualOrInfrequentItemLineItems" xlink:label="us-gaap_UnusualOrInfrequentItemLineItems" xmlns="http://www.xbrl.org/2003/linkbase" />
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_UnusualOrInfrequentItemLineItems" xlink:to="us-gaap_UnusualOrInfrequentItemLineItems_lbl" xmlns="http://www.xbrl.org/2003/linkbase" />
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_UnusualOrInfrequentItemLineItems_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase">Unusual or Infrequent Item [Line Items]</label>
    <loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2016/elts/us-gaap-2016-01-31.xsd#us-gaap_BusinessCombinationBargainPurchaseAbstract" xlink:label="us-gaap_BusinessCombinationBargainPurchaseAbstract" xmlns="http://www.xbrl.org/2003/linkbase" />
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_BusinessCombinationBargainPurchaseAbstract" xlink:to="us-gaap_BusinessCombinationBargainPurchaseAbstract_lbl" xmlns="http://www.xbrl.org/2003/linkbase" />
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_BusinessCombinationBargainPurchaseAbstract_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase">Business Combination, Bargain Purchase [Abstract]</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="us-gaap_BusinessCombinationBargainPurchaseAbstract_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase">GAIN ON BARGAIN PURCHASE [Abstract]</label>
    <loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2016/elts/us-gaap-2016-01-31.xsd#us-gaap_BusinessCombinationConsiderationTransferred1" xlink:label="us-gaap_BusinessCombinationConsiderationTransferred1" xmlns="http://www.xbrl.org/2003/linkbase" />
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_BusinessCombinationConsiderationTransferred1" xlink:to="us-gaap_BusinessCombinationConsiderationTransferred1_lbl" xmlns="http://www.xbrl.org/2003/linkbase" />
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_BusinessCombinationConsiderationTransferred1_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase">Business Combination, Consideration Transferred</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="us-gaap_BusinessCombinationConsiderationTransferred1_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase">Total acquisition costs</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/totalLabel" xlink:label="us-gaap_BusinessCombinationConsiderationTransferred1_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase">Total acquisition costs</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:label="us-gaap_BusinessCombinationConsiderationTransferred1_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase">Fair value at acquisition</label>
    <loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2016/elts/us-gaap-2016-01-31.xsd#us-gaap_PaymentsToAcquireBusinessesGross" xlink:label="us-gaap_PaymentsToAcquireBusinessesGross" xmlns="http://www.xbrl.org/2003/linkbase" />
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_PaymentsToAcquireBusinessesGross" xlink:to="us-gaap_PaymentsToAcquireBusinessesGross_lbl" xmlns="http://www.xbrl.org/2003/linkbase" />
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_PaymentsToAcquireBusinessesGross_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase">Form of consideration, cash</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:label="us-gaap_PaymentsToAcquireBusinessesGross_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase">Cash consideration</label>
    <loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2016/elts/us-gaap-2016-01-31.xsd#us-gaap_StockIssuedDuringPeriodSharesAcquisitions" xlink:label="us-gaap_StockIssuedDuringPeriodSharesAcquisitions" xmlns="http://www.xbrl.org/2003/linkbase" />
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_StockIssuedDuringPeriodSharesAcquisitions" xlink:to="us-gaap_StockIssuedDuringPeriodSharesAcquisitions_lbl" xmlns="http://www.xbrl.org/2003/linkbase" />
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_StockIssuedDuringPeriodSharesAcquisitions_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase">Stock Issued During Period, Shares, Acquisitions</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="us-gaap_StockIssuedDuringPeriodSharesAcquisitions_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase">Units issued, acquisitions</label>
    <loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2016/elts/us-gaap-2016-01-31.xsd#us-gaap_StockIssuedDuringPeriodValueAcquisitions" xlink:label="us-gaap_StockIssuedDuringPeriodValueAcquisitions" xmlns="http://www.xbrl.org/2003/linkbase" />
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_StockIssuedDuringPeriodValueAcquisitions" xlink:to="us-gaap_StockIssuedDuringPeriodValueAcquisitions_lbl" xmlns="http://www.xbrl.org/2003/linkbase" />
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_StockIssuedDuringPeriodValueAcquisitions_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase">Stock Issued During Period, Value, Acquisitions</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="us-gaap_StockIssuedDuringPeriodValueAcquisitions_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase">Value of units issued, acquisitions</label>
    <loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2016/elts/us-gaap-2016-01-31.xsd#us-gaap_SharePrice" xlink:label="us-gaap_SharePrice" xmlns="http://www.xbrl.org/2003/linkbase" />
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_SharePrice" xlink:to="us-gaap_SharePrice_lbl" xmlns="http://www.xbrl.org/2003/linkbase" />
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_SharePrice_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase">Share Price</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="us-gaap_SharePrice_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase">Share price on acquisition date</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:label="us-gaap_SharePrice_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase">Share price (in dollars per share)</label>
    <loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2016/elts/us-gaap-2016-01-31.xsd#us-gaap_BusinessCombinationConsiderationTransferredEquityInterestsIssuedAndIssuable" xlink:label="us-gaap_BusinessCombinationConsiderationTransferredEquityInterestsIssuedAndIssuable" xmlns="http://www.xbrl.org/2003/linkbase" />
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_BusinessCombinationConsiderationTransferredEquityInterestsIssuedAndIssuable" xlink:to="us-gaap_BusinessCombinationConsiderationTransferredEquityInterestsIssuedAndIssuable_lbl" xmlns="http://www.xbrl.org/2003/linkbase" />
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_BusinessCombinationConsiderationTransferredEquityInterestsIssuedAndIssuable_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase">Form of consideration, units</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:label="us-gaap_BusinessCombinationConsiderationTransferredEquityInterestsIssuedAndIssuable_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase">Value of units exchanged</label>
    <loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2016/elts/us-gaap-2016-01-31.xsd#us-gaap_CashUninsuredAmount" xlink:label="us-gaap_CashUninsuredAmount" xmlns="http://www.xbrl.org/2003/linkbase" />
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_CashUninsuredAmount" xlink:to="us-gaap_CashUninsuredAmount_lbl" xmlns="http://www.xbrl.org/2003/linkbase" />
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_CashUninsuredAmount_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase">Cash, Uninsured Amount</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="us-gaap_CashUninsuredAmount_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase">Amounts deposit not insured by FDIC</label>
    <loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2016/elts/us-gaap-2016-01-31.xsd#us-gaap_InterestCostsCapitalized" xlink:label="us-gaap_InterestCostsCapitalized" xmlns="http://www.xbrl.org/2003/linkbase" />
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_InterestCostsCapitalized" xlink:to="us-gaap_InterestCostsCapitalized_lbl" xmlns="http://www.xbrl.org/2003/linkbase" />
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_InterestCostsCapitalized_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase">Capitalized interest during construction</label>
    <loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2016/elts/us-gaap-2016-01-31.xsd#us-gaap_OperatingLeasesFutureMinimumPaymentsDueAbstract" xlink:label="us-gaap_OperatingLeasesFutureMinimumPaymentsDueAbstract" xmlns="http://www.xbrl.org/2003/linkbase" />
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_OperatingLeasesFutureMinimumPaymentsDueAbstract" xlink:to="us-gaap_OperatingLeasesFutureMinimumPaymentsDueAbstract_lbl" xmlns="http://www.xbrl.org/2003/linkbase" />
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_OperatingLeasesFutureMinimumPaymentsDueAbstract_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase">Operating Leases, Future Minimum Payments [Abstract]</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="us-gaap_OperatingLeasesFutureMinimumPaymentsDueAbstract_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase">Future minimum lease receipts to be received under non-cancellable leases [Abstract]</label>
    <loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2016/elts/us-gaap-2016-01-31.xsd#us-gaap_OperatingLeasesFutureMinimumPaymentsReceivableCurrent" xlink:label="us-gaap_OperatingLeasesFutureMinimumPaymentsReceivableCurrent" xmlns="http://www.xbrl.org/2003/linkbase" />
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_OperatingLeasesFutureMinimumPaymentsReceivableCurrent" xlink:to="us-gaap_OperatingLeasesFutureMinimumPaymentsReceivableCurrent_lbl" xmlns="http://www.xbrl.org/2003/linkbase" />
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_OperatingLeasesFutureMinimumPaymentsReceivableCurrent_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase">2017</label>
    <loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2016/elts/us-gaap-2016-01-31.xsd#us-gaap_OperatingLeasesFutureMinimumPaymentsReceivableInTwoYears" xlink:label="us-gaap_OperatingLeasesFutureMinimumPaymentsReceivableInTwoYears" xmlns="http://www.xbrl.org/2003/linkbase" />
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_OperatingLeasesFutureMinimumPaymentsReceivableInTwoYears" xlink:to="us-gaap_OperatingLeasesFutureMinimumPaymentsReceivableInTwoYears_lbl" xmlns="http://www.xbrl.org/2003/linkbase" />
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_OperatingLeasesFutureMinimumPaymentsReceivableInTwoYears_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase">2018</label>
    <loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2016/elts/us-gaap-2016-01-31.xsd#us-gaap_OperatingLeasesFutureMinimumPaymentsReceivableInThreeYears" xlink:label="us-gaap_OperatingLeasesFutureMinimumPaymentsReceivableInThreeYears" xmlns="http://www.xbrl.org/2003/linkbase" />
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_OperatingLeasesFutureMinimumPaymentsReceivableInThreeYears" xlink:to="us-gaap_OperatingLeasesFutureMinimumPaymentsReceivableInThreeYears_lbl" xmlns="http://www.xbrl.org/2003/linkbase" />
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_OperatingLeasesFutureMinimumPaymentsReceivableInThreeYears_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase">2019</label>
    <loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2016/elts/us-gaap-2016-01-31.xsd#us-gaap_OperatingLeasesFutureMinimumPaymentsReceivableInFourYears" xlink:label="us-gaap_OperatingLeasesFutureMinimumPaymentsReceivableInFourYears" xmlns="http://www.xbrl.org/2003/linkbase" />
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_OperatingLeasesFutureMinimumPaymentsReceivableInFourYears" xlink:to="us-gaap_OperatingLeasesFutureMinimumPaymentsReceivableInFourYears_lbl" xmlns="http://www.xbrl.org/2003/linkbase" />
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_OperatingLeasesFutureMinimumPaymentsReceivableInFourYears_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase">2020</label>
    <loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2016/elts/us-gaap-2016-01-31.xsd#us-gaap_OperatingLeasesFutureMinimumPaymentsReceivableInFiveYears" xlink:label="us-gaap_OperatingLeasesFutureMinimumPaymentsReceivableInFiveYears" xmlns="http://www.xbrl.org/2003/linkbase" />
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_OperatingLeasesFutureMinimumPaymentsReceivableInFiveYears" xlink:to="us-gaap_OperatingLeasesFutureMinimumPaymentsReceivableInFiveYears_lbl" xmlns="http://www.xbrl.org/2003/linkbase" />
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_OperatingLeasesFutureMinimumPaymentsReceivableInFiveYears_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase">2021</label>
    <loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2016/elts/us-gaap-2016-01-31.xsd#us-gaap_OperatingLeasesFutureMinimumPaymentsReceivableThereafter" xlink:label="us-gaap_OperatingLeasesFutureMinimumPaymentsReceivableThereafter" xmlns="http://www.xbrl.org/2003/linkbase" />
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_OperatingLeasesFutureMinimumPaymentsReceivableThereafter" xlink:to="us-gaap_OperatingLeasesFutureMinimumPaymentsReceivableThereafter_lbl" xmlns="http://www.xbrl.org/2003/linkbase" />
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_OperatingLeasesFutureMinimumPaymentsReceivableThereafter_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase">Thereafter</label>
    <loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2016/elts/us-gaap-2016-01-31.xsd#us-gaap_OperatingLeasesFutureMinimumPaymentsReceivable" xlink:label="us-gaap_OperatingLeasesFutureMinimumPaymentsReceivable" xmlns="http://www.xbrl.org/2003/linkbase" />
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_OperatingLeasesFutureMinimumPaymentsReceivable" xlink:to="us-gaap_OperatingLeasesFutureMinimumPaymentsReceivable_lbl" xmlns="http://www.xbrl.org/2003/linkbase" />
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_OperatingLeasesFutureMinimumPaymentsReceivable_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase">Operating Leases, Future Minimum Payments Receivable</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/totalLabel" xlink:label="us-gaap_OperatingLeasesFutureMinimumPaymentsReceivable_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase">Total</label>
    <loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2016/elts/us-gaap-2016-01-31.xsd#us-gaap_ScheduleOfFiniteLivedIntangibleAssetsTable" xlink:label="us-gaap_ScheduleOfFiniteLivedIntangibleAssetsTable" xmlns="http://www.xbrl.org/2003/linkbase" />
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_ScheduleOfFiniteLivedIntangibleAssetsTable" xlink:to="us-gaap_ScheduleOfFiniteLivedIntangibleAssetsTable_lbl" xmlns="http://www.xbrl.org/2003/linkbase" />
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_ScheduleOfFiniteLivedIntangibleAssetsTable_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase">Schedule of Finite-Lived Intangible Assets [Table]</label>
    <loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2016/elts/us-gaap-2016-01-31.xsd#us-gaap_FiniteLivedIntangibleAssetsByMajorClassAxis" xlink:label="us-gaap_FiniteLivedIntangibleAssetsByMajorClassAxis" xmlns="http://www.xbrl.org/2003/linkbase" />
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_FiniteLivedIntangibleAssetsByMajorClassAxis" xlink:to="us-gaap_FiniteLivedIntangibleAssetsByMajorClassAxis_lbl" xmlns="http://www.xbrl.org/2003/linkbase" />
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_FiniteLivedIntangibleAssetsByMajorClassAxis_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase">Finite-Lived Intangible Assets by Major Class [Axis]</label>
    <loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2016/elts/us-gaap-2016-01-31.xsd#us-gaap_FiniteLivedIntangibleAssetsMajorClassNameDomain" xlink:label="us-gaap_FiniteLivedIntangibleAssetsMajorClassNameDomain" xmlns="http://www.xbrl.org/2003/linkbase" />
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_FiniteLivedIntangibleAssetsMajorClassNameDomain" xlink:to="us-gaap_FiniteLivedIntangibleAssetsMajorClassNameDomain_lbl" xmlns="http://www.xbrl.org/2003/linkbase" />
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_FiniteLivedIntangibleAssetsMajorClassNameDomain_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase">Finite Lived Intangible Assets Major Class Name [Domain]</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="us-gaap_FiniteLivedIntangibleAssetsMajorClassNameDomain_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase">Finite-Lived Intangible Assets, Major Class Name [Domain]</label>
    <loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2016/elts/us-gaap-2016-01-31.xsd#us-gaap_LeasesAcquiredInPlaceMarketAdjustmentMember" xlink:label="us-gaap_LeasesAcquiredInPlaceMarketAdjustmentMember" xmlns="http://www.xbrl.org/2003/linkbase" />
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_LeasesAcquiredInPlaceMarketAdjustmentMember" xlink:to="us-gaap_LeasesAcquiredInPlaceMarketAdjustmentMember_lbl" xmlns="http://www.xbrl.org/2003/linkbase" />
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_LeasesAcquiredInPlaceMarketAdjustmentMember_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase">Leases Acquired In Place Market Adjustment [Member]</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="us-gaap_LeasesAcquiredInPlaceMarketAdjustmentMember_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase">Leases, Acquired-in-Place, Market Adjustment [Member]</label>
    <loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2016/elts/us-gaap-2016-01-31.xsd#us-gaap_FiniteLivedIntangibleAssetsLineItems" xlink:label="us-gaap_FiniteLivedIntangibleAssetsLineItems" xmlns="http://www.xbrl.org/2003/linkbase" />
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_FiniteLivedIntangibleAssetsLineItems" xlink:to="us-gaap_FiniteLivedIntangibleAssetsLineItems_lbl" xmlns="http://www.xbrl.org/2003/linkbase" />
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_FiniteLivedIntangibleAssetsLineItems_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase">Finite-Lived Intangible Assets [Line Items]</label>
    <loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2016/elts/us-gaap-2016-01-31.xsd#us-gaap_FiniteLivedIntangibleAssetsRollForward" xlink:label="us-gaap_FiniteLivedIntangibleAssetsRollForward" xmlns="http://www.xbrl.org/2003/linkbase" />
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_FiniteLivedIntangibleAssetsRollForward" xlink:to="us-gaap_FiniteLivedIntangibleAssetsRollForward_lbl" xmlns="http://www.xbrl.org/2003/linkbase" />
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_FiniteLivedIntangibleAssetsRollForward_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase">Identified intangible assets (included in intangible assets) [Roll Forward]</label>
    <loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2016/elts/us-gaap-2016-01-31.xsd#us-gaap_FiniteLivedIntangibleAssetsGross" xlink:label="us-gaap_FiniteLivedIntangibleAssetsGross" xmlns="http://www.xbrl.org/2003/linkbase" />
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_FiniteLivedIntangibleAssetsGross" xlink:to="us-gaap_FiniteLivedIntangibleAssetsGross_lbl" xmlns="http://www.xbrl.org/2003/linkbase" />
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_FiniteLivedIntangibleAssetsGross_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase">Gross carrying amount</label>
    <loc xlink:type="locator" xlink:href="iret-20170430.xsd#iret_FiniteLivedIntangibleLiabilitiesAbstract" xlink:label="iret_FiniteLivedIntangibleLiabilitiesAbstract" xmlns="http://www.xbrl.org/2003/linkbase" />
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="iret_FiniteLivedIntangibleLiabilitiesAbstract" xlink:to="iret_FiniteLivedIntangibleLiabilitiesAbstract_lbl" xmlns="http://www.xbrl.org/2003/linkbase" />
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="iret_FiniteLivedIntangibleLiabilitiesAbstract_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase">Finite lived Intangible Liabilities [Abstract]</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="iret_FiniteLivedIntangibleLiabilitiesAbstract_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase">Identified intangible liabilities (included in other liabilities) [Abstract]</label>
    <loc xlink:type="locator" xlink:href="iret-20170430.xsd#iret_IndentifiedIntangibleLiabilitiesGross" xlink:label="iret_IndentifiedIntangibleLiabilitiesGross" xmlns="http://www.xbrl.org/2003/linkbase" />
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="iret_IndentifiedIntangibleLiabilitiesGross" xlink:to="iret_IndentifiedIntangibleLiabilitiesGross_lbl" xmlns="http://www.xbrl.org/2003/linkbase" />
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="iret_IndentifiedIntangibleLiabilitiesGross_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase">Amount before amortization of liabilities, excluding financial liabilities, lacking physical substance with a finite life.</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="iret_IndentifiedIntangibleLiabilitiesGross_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase">Indentified intangible liabilities, gross</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="iret_IndentifiedIntangibleLiabilitiesGross_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase">Gross carrying amount</label>
    <loc xlink:type="locator" xlink:href="iret-20170430.xsd#iret_IndentifiedIntangibleLiabilitiesAccumulatedAmortization" xlink:label="iret_IndentifiedIntangibleLiabilitiesAccumulatedAmortization" xmlns="http://www.xbrl.org/2003/linkbase" />
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="iret_IndentifiedIntangibleLiabilitiesAccumulatedAmortization" xlink:to="iret_IndentifiedIntangibleLiabilitiesAccumulatedAmortization_lbl" xmlns="http://www.xbrl.org/2003/linkbase" />
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="iret_IndentifiedIntangibleLiabilitiesAccumulatedAmortization_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase">Accumulated amount of amortization of liabilities, excluding financial liabilities, lacking physical substance with a finite life.</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="iret_IndentifiedIntangibleLiabilitiesAccumulatedAmortization_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase">Indentified intangible liabilities, accumulated amortization</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2009/role/negatedLabel" xlink:label="iret_IndentifiedIntangibleLiabilitiesAccumulatedAmortization_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase">Accumulated amortization</label>
    <loc xlink:type="locator" xlink:href="iret-20170430.xsd#iret_IndentifiedIntangibleLiabilitiesNet" xlink:label="iret_IndentifiedIntangibleLiabilitiesNet" xmlns="http://www.xbrl.org/2003/linkbase" />
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="iret_IndentifiedIntangibleLiabilitiesNet" xlink:to="iret_IndentifiedIntangibleLiabilitiesNet_lbl" xmlns="http://www.xbrl.org/2003/linkbase" />
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="iret_IndentifiedIntangibleLiabilitiesNet_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase">Amount after amortization of liabilities, excluding financial a liabilities, lacking physical substance with a finite life.</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="iret_IndentifiedIntangibleLiabilitiesNet_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase">Indentified intangible liabilities, net</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/totalLabel" xlink:label="iret_IndentifiedIntangibleLiabilitiesNet_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase">Net carrying amount</label>
    <loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2016/elts/us-gaap-2016-01-31.xsd#us-gaap_AmortizationOfIntangibleAssets" xlink:label="us-gaap_AmortizationOfIntangibleAssets" xmlns="http://www.xbrl.org/2003/linkbase" />
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_AmortizationOfIntangibleAssets" xlink:to="us-gaap_AmortizationOfIntangibleAssets_lbl" xmlns="http://www.xbrl.org/2003/linkbase" />
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_AmortizationOfIntangibleAssets_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase">Amortization of intangible assets</label>
    <loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2016/elts/us-gaap-2016-01-31.xsd#us-gaap_MinorityInterestTable" xlink:label="us-gaap_MinorityInterestTable" xmlns="http://www.xbrl.org/2003/linkbase" />
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_MinorityInterestTable" xlink:to="us-gaap_MinorityInterestTable_lbl" xmlns="http://www.xbrl.org/2003/linkbase" />
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_MinorityInterestTable_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase">Noncontrolling Interest [Table]</label>
    <loc xlink:type="locator" xlink:href="http://xbrl.sec.gov/dei/2014/dei-2014-01-31.xsd#dei_LegalEntityAxis" xlink:label="dei_LegalEntityAxis" xmlns="http://www.xbrl.org/2003/linkbase" />
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="dei_LegalEntityAxis" xlink:to="dei_LegalEntityAxis_lbl" xmlns="http://www.xbrl.org/2003/linkbase" />
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="dei_LegalEntityAxis_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase">Legal Entity [Axis]</label>
    <loc xlink:type="locator" xlink:href="http://xbrl.sec.gov/dei/2014/dei-2014-01-31.xsd#dei_EntityDomain" xlink:label="dei_EntityDomain" xmlns="http://www.xbrl.org/2003/linkbase" />
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="dei_EntityDomain" xlink:to="dei_EntityDomain_lbl" xmlns="http://www.xbrl.org/2003/linkbase" />
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="dei_EntityDomain_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase">Entity [Domain]</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="dei_EntityDomain_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase">Entity [Domain]</label>
    <loc xlink:type="locator" xlink:href="iret-20170430.xsd#iret_IRET71FranceLLCMember" xlink:label="iret_IRET71FranceLLCMember" xmlns="http://www.xbrl.org/2003/linkbase" />
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="iret_IRET71FranceLLCMember" xlink:to="iret_IRET71FranceLLCMember_lbl" xmlns="http://www.xbrl.org/2003/linkbase" />
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="iret_IRET71FranceLLCMember_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase">This element represents that portion of equity (net assets) in a subsidiary not attributable, directly or indirectly, to the parent. A noncontrolling interest is sometimes called a minority interest.</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="iret_IRET71FranceLLCMember_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase">I R E T71 France L L C [Member]</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="iret_IRET71FranceLLCMember_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase">IRET - 71 France, LLC [Member]</label>
    <loc xlink:type="locator" xlink:href="iret-20170430.xsd#iret_IretCypressCourtApartmentsLlcMember" xlink:label="iret_IretCypressCourtApartmentsLlcMember" xmlns="http://www.xbrl.org/2003/linkbase" />
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="iret_IretCypressCourtApartmentsLlcMember" xlink:to="iret_IretCypressCourtApartmentsLlcMember_lbl" xmlns="http://www.xbrl.org/2003/linkbase" />
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="iret_IretCypressCourtApartmentsLlcMember_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase">This element represents that portion of equity (net assets) in a subsidiary not attributable, directly or indirectly, to the parent. A noncontrolling interest is sometimes called a minority interest.</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="iret_IretCypressCourtApartmentsLlcMember_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase">Iret Cypress Court Apartments Llc [Member]</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="iret_IretCypressCourtApartmentsLlcMember_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase">IRET-Cypress Court Apartments, LLC [Member]</label>
    <loc xlink:type="locator" xlink:href="iret-20170430.xsd#iret_IretRed20LlcMember" xlink:label="iret_IretRed20LlcMember" xmlns="http://www.xbrl.org/2003/linkbase" />
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="iret_IretRed20LlcMember" xlink:to="iret_IretRed20LlcMember_lbl" xmlns="http://www.xbrl.org/2003/linkbase" />
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="iret_IretRed20LlcMember_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase">This element represents that portion of equity (net assets) in a subsidiary not attributable, directly or indirectly, to the parent. A noncontrolling interest is sometimes called a minority interest.</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="iret_IretRed20LlcMember_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase">Iret Red20 Llc [Member]</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="iret_IretRed20LlcMember_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase">IRET-RED 20, LLC [Member]</label>
    <loc xlink:type="locator" xlink:href="iret-20170430.xsd#iret_IretWillistonGardenApartmentsLlcMember" xlink:label="iret_IretWillistonGardenApartmentsLlcMember" xmlns="http://www.xbrl.org/2003/linkbase" />
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="iret_IretWillistonGardenApartmentsLlcMember" xlink:to="iret_IretWillistonGardenApartmentsLlcMember_lbl" xmlns="http://www.xbrl.org/2003/linkbase" />
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="iret_IretWillistonGardenApartmentsLlcMember_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase">This element represents that portion of equity (net assets) in a subsidiary not attributable, directly or indirectly, to the parent. A noncontrolling interest is sometimes called a minority interest.</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="iret_IretWillistonGardenApartmentsLlcMember_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase">Iret Williston Garden Apartments Llc [Member]</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="iret_IretWillistonGardenApartmentsLlcMember_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase">IRET-Williston Garden Apartments, LLC [Member]</label>
    <loc xlink:type="locator" xlink:href="iret-20170430.xsd#iret_IretWrh1LlcMember" xlink:label="iret_IretWrh1LlcMember" xmlns="http://www.xbrl.org/2003/linkbase" />
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="iret_IretWrh1LlcMember" xlink:to="iret_IretWrh1LlcMember_lbl" xmlns="http://www.xbrl.org/2003/linkbase" />
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="iret_IretWrh1LlcMember_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase">This element represents that portion of equity (net assets) in a subsidiary not attributable, directly or indirectly, to the parent. A noncontrolling interest is sometimes called a minority interest.</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="iret_IretWrh1LlcMember_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase">Iret Wrh1 Llc [Member]</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="iret_IretWrh1LlcMember_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase">IRET-WRH 1, LLC [Member]</label>
    <loc xlink:type="locator" xlink:href="iret-20170430.xsd#iret_WrhHoldingLlcMember" xlink:label="iret_WrhHoldingLlcMember" xmlns="http://www.xbrl.org/2003/linkbase" />
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="iret_WrhHoldingLlcMember" xlink:to="iret_WrhHoldingLlcMember_lbl" xmlns="http://www.xbrl.org/2003/linkbase" />
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="iret_WrhHoldingLlcMember_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase">This element represents that portion of equity (net assets) in a subsidiary not attributable, directly or indirectly, to the parent. A noncontrolling interest is sometimes called a minority interest.</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="iret_WrhHoldingLlcMember_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase">Wrh Holding Llc [Member]</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="iret_WrhHoldingLlcMember_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase">WRH Holding, LLC [Member]</label>
    <loc xlink:type="locator" xlink:href="iret-20170430.xsd#iret_OtherNoncontrollingInterestsMember" xlink:label="iret_OtherNoncontrollingInterestsMember" xmlns="http://www.xbrl.org/2003/linkbase" />
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="iret_OtherNoncontrollingInterestsMember" xlink:to="iret_OtherNoncontrollingInterestsMember_lbl" xmlns="http://www.xbrl.org/2003/linkbase" />
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="iret_OtherNoncontrollingInterestsMember_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase">This element represents that portion of equity (net assets) in all other subsidiaries not already specified not attributable, directly or indirectly, to the parent. A noncontrolling interest is sometimes called a minority interest.</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="iret_OtherNoncontrollingInterestsMember_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase">Other Noncontrolling Interests [Member]</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="iret_OtherNoncontrollingInterestsMember_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase">Other Noncontrolling Interests [Member]</label>
    <loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2016/elts/us-gaap-2016-01-31.xsd#us-gaap_MinorityInterestLineItems" xlink:label="us-gaap_MinorityInterestLineItems" xmlns="http://www.xbrl.org/2003/linkbase" />
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_MinorityInterestLineItems" xlink:to="us-gaap_MinorityInterestLineItems_lbl" xmlns="http://www.xbrl.org/2003/linkbase" />
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_MinorityInterestLineItems_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase">Noncontrolling Interest [Line Items]</label>
    <loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2016/elts/us-gaap-2016-01-31.xsd#us-gaap_LineOfCreditFacilityTable" xlink:label="us-gaap_LineOfCreditFacilityTable" xmlns="http://www.xbrl.org/2003/linkbase" />
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_LineOfCreditFacilityTable" xlink:to="us-gaap_LineOfCreditFacilityTable_lbl" xmlns="http://www.xbrl.org/2003/linkbase" />
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_LineOfCreditFacilityTable_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase">Line of Credit Facility [Table]</label>
    <loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2016/elts/us-gaap-2016-01-31.xsd#us-gaap_CreditFacilityAxis" xlink:label="us-gaap_CreditFacilityAxis" xmlns="http://www.xbrl.org/2003/linkbase" />
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_CreditFacilityAxis" xlink:to="us-gaap_CreditFacilityAxis_lbl" xmlns="http://www.xbrl.org/2003/linkbase" />
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_CreditFacilityAxis_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase">Credit Facility [Axis]</label>
    <loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2016/elts/us-gaap-2016-01-31.xsd#us-gaap_CreditFacilityDomain" xlink:label="us-gaap_CreditFacilityDomain" xmlns="http://www.xbrl.org/2003/linkbase" />
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_CreditFacilityDomain" xlink:to="us-gaap_CreditFacilityDomain_lbl" xmlns="http://www.xbrl.org/2003/linkbase" />
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_CreditFacilityDomain_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase">Credit Facility [Domain]</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="us-gaap_CreditFacilityDomain_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase">Credit Facility [Domain]</label>
    <loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2016/elts/us-gaap-2016-01-31.xsd#us-gaap_LineOfCreditMember" xlink:label="us-gaap_LineOfCreditMember" xmlns="http://www.xbrl.org/2003/linkbase" />
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_LineOfCreditMember" xlink:to="us-gaap_LineOfCreditMember_lbl" xmlns="http://www.xbrl.org/2003/linkbase" />
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_LineOfCreditMember_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase">Line Of Credit [Member]</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="us-gaap_LineOfCreditMember_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase">Line of Credit [Member]</label>
    <loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2016/elts/us-gaap-2016-01-31.xsd#us-gaap_LineOfCreditFacilityAxis" xlink:label="us-gaap_LineOfCreditFacilityAxis" xmlns="http://www.xbrl.org/2003/linkbase" />
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_LineOfCreditFacilityAxis" xlink:to="us-gaap_LineOfCreditFacilityAxis_lbl" xmlns="http://www.xbrl.org/2003/linkbase" />
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_LineOfCreditFacilityAxis_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase">Lender Name [Axis]</label>
    <loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2016/elts/us-gaap-2016-01-31.xsd#us-gaap_LineOfCreditFacilityLenderDomain" xlink:label="us-gaap_LineOfCreditFacilityLenderDomain" xmlns="http://www.xbrl.org/2003/linkbase" />
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_LineOfCreditFacilityLenderDomain" xlink:to="us-gaap_LineOfCreditFacilityLenderDomain_lbl" xmlns="http://www.xbrl.org/2003/linkbase" />
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_LineOfCreditFacilityLenderDomain_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase">Line Of Credit Facility Lender [Domain]</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="us-gaap_LineOfCreditFacilityLenderDomain_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase">Line of Credit Facility, Lender [Domain]</label>
    <loc xlink:type="locator" xlink:href="iret-20170430.xsd#iret_FirstInternationalBankTrustMember" xlink:label="iret_FirstInternationalBankTrustMember" xmlns="http://www.xbrl.org/2003/linkbase" />
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="iret_FirstInternationalBankTrustMember" xlink:to="iret_FirstInternationalBankTrustMember_lbl" xmlns="http://www.xbrl.org/2003/linkbase" />
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="iret_FirstInternationalBankTrustMember_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase">Related parties include, but not limited to, affiliates; other entities for which investments are accounted for by the equity method by the entity; trusts for benefit of employees; and principal owners, management, and members of immediate families. It also may include other parties with which the entity may control or can significantly influence the management or operating policies of the other to an extent that one of the transacting parties might be prevented from fully pursuing its own separate interests.</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="iret_FirstInternationalBankTrustMember_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase">First International Bank Trust [Member]</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="iret_FirstInternationalBankTrustMember_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase">First International Bank &amp; Trust [Member]</label>
    <loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2016/elts/us-gaap-2016-01-31.xsd#us-gaap_LineOfCreditFacilityLineItems" xlink:label="us-gaap_LineOfCreditFacilityLineItems" xmlns="http://www.xbrl.org/2003/linkbase" />
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_LineOfCreditFacilityLineItems" xlink:to="us-gaap_LineOfCreditFacilityLineItems_lbl" xmlns="http://www.xbrl.org/2003/linkbase" />
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_LineOfCreditFacilityLineItems_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase">Line of Credit Facility [Line Items]</label>
    <loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2016/elts/us-gaap-2016-01-31.xsd#us-gaap_LineOfCreditFacilityCurrentBorrowingCapacity" xlink:label="us-gaap_LineOfCreditFacilityCurrentBorrowingCapacity" xmlns="http://www.xbrl.org/2003/linkbase" />
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_LineOfCreditFacilityCurrentBorrowingCapacity" xlink:to="us-gaap_LineOfCreditFacilityCurrentBorrowingCapacity_lbl" xmlns="http://www.xbrl.org/2003/linkbase" />
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_LineOfCreditFacilityCurrentBorrowingCapacity_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase">Line of Credit Facility, Current Borrowing Capacity</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="us-gaap_LineOfCreditFacilityCurrentBorrowingCapacity_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase">Borrowing capacity with accordion option</label>
    <loc xlink:type="locator" xlink:href="iret-20170430.xsd#iret_UnencumberedAssetPoolNumberOfProperties" xlink:label="iret_UnencumberedAssetPoolNumberOfProperties" xmlns="http://www.xbrl.org/2003/linkbase" />
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="iret_UnencumberedAssetPoolNumberOfProperties" xlink:to="iret_UnencumberedAssetPoolNumberOfProperties_lbl" xmlns="http://www.xbrl.org/2003/linkbase" />
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="iret_UnencumberedAssetPoolNumberOfProperties_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase">Represents the number of properties that meet certain eligibility criteria for unencumbered asset pool.</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="iret_UnencumberedAssetPoolNumberOfProperties_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase">Unencumbered Asset Pool Number of Properties</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="iret_UnencumberedAssetPoolNumberOfProperties_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase">Properties in unencumbered asset pool</label>
    <loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2016/elts/us-gaap-2016-01-31.xsd#us-gaap_DebtInstrumentBasisSpreadOnVariableRate1" xlink:label="us-gaap_DebtInstrumentBasisSpreadOnVariableRate1" xmlns="http://www.xbrl.org/2003/linkbase" />
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_DebtInstrumentBasisSpreadOnVariableRate1" xlink:to="us-gaap_DebtInstrumentBasisSpreadOnVariableRate1_lbl" xmlns="http://www.xbrl.org/2003/linkbase" />
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_DebtInstrumentBasisSpreadOnVariableRate1_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase">Debt instrument, basis spread on variable rate (in hundredths)</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="us-gaap_DebtInstrumentBasisSpreadOnVariableRate1_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase">Interest rate spread (as a percent)</label>
    <loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2016/elts/us-gaap-2016-01-31.xsd#us-gaap_RatioOfIndebtednessToNetCapital1" xlink:label="us-gaap_RatioOfIndebtednessToNetCapital1" xmlns="http://www.xbrl.org/2003/linkbase" />
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_RatioOfIndebtednessToNetCapital1" xlink:to="us-gaap_RatioOfIndebtednessToNetCapital1_lbl" xmlns="http://www.xbrl.org/2003/linkbase" />
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_RatioOfIndebtednessToNetCapital1_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase">Ratio of Indebtedness to Net Capital</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="us-gaap_RatioOfIndebtednessToNetCapital1_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase">Leverage ratio</label>
    <loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2016/elts/us-gaap-2016-01-31.xsd#us-gaap_NoninterestBearingDepositLiabilitiesDomestic" xlink:label="us-gaap_NoninterestBearingDepositLiabilitiesDomestic" xmlns="http://www.xbrl.org/2003/linkbase" />
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_NoninterestBearingDepositLiabilitiesDomestic" xlink:to="us-gaap_NoninterestBearingDepositLiabilitiesDomestic_lbl" xmlns="http://www.xbrl.org/2003/linkbase" />
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_NoninterestBearingDepositLiabilitiesDomestic_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase">Non interest bearing account</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="us-gaap_NoninterestBearingDepositLiabilitiesDomestic_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase">Non-interest bearing account</label>
    <loc xlink:type="locator" xlink:href="iret-20170430.xsd#iret_CreditFacilityAbstract" xlink:label="iret_CreditFacilityAbstract" xmlns="http://www.xbrl.org/2003/linkbase" />
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="iret_CreditFacilityAbstract" xlink:to="iret_CreditFacilityAbstract_lbl" xmlns="http://www.xbrl.org/2003/linkbase" />
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="iret_CreditFacilityAbstract_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase">Credit Facility [Abstract]</label>
    <loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2016/elts/us-gaap-2016-01-31.xsd#us-gaap_LineOfCreditFacilityMaximumBorrowingCapacity" xlink:label="us-gaap_LineOfCreditFacilityMaximumBorrowingCapacity" xmlns="http://www.xbrl.org/2003/linkbase" />
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_LineOfCreditFacilityMaximumBorrowingCapacity" xlink:to="us-gaap_LineOfCreditFacilityMaximumBorrowingCapacity_lbl" xmlns="http://www.xbrl.org/2003/linkbase" />
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_LineOfCreditFacilityMaximumBorrowingCapacity_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase">Amount available</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:label="us-gaap_LineOfCreditFacilityMaximumBorrowingCapacity_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase">Maximum borrowing capacity</label>
    <loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2016/elts/us-gaap-2016-01-31.xsd#us-gaap_LineOfCredit" xlink:label="us-gaap_LineOfCredit" xmlns="http://www.xbrl.org/2003/linkbase" />
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_LineOfCredit" xlink:to="us-gaap_LineOfCredit_lbl" xmlns="http://www.xbrl.org/2003/linkbase" />
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_LineOfCredit_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase">Amount outstanding</label>
    <loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2016/elts/us-gaap-2016-01-31.xsd#us-gaap_LineOfCreditFacilityInterestRateDuringPeriod" xlink:label="us-gaap_LineOfCreditFacilityInterestRateDuringPeriod" xmlns="http://www.xbrl.org/2003/linkbase" />
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_LineOfCreditFacilityInterestRateDuringPeriod" xlink:to="us-gaap_LineOfCreditFacilityInterestRateDuringPeriod_lbl" xmlns="http://www.xbrl.org/2003/linkbase" />
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_LineOfCreditFacilityInterestRateDuringPeriod_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase">Interest rate (in hundredths)</label>
    <loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2016/elts/us-gaap-2016-01-31.xsd#us-gaap_DebtWeightedAverageInterestRate" xlink:label="us-gaap_DebtWeightedAverageInterestRate" xmlns="http://www.xbrl.org/2003/linkbase" />
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_DebtWeightedAverageInterestRate" xlink:to="us-gaap_DebtWeightedAverageInterestRate_lbl" xmlns="http://www.xbrl.org/2003/linkbase" />
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_DebtWeightedAverageInterestRate_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase">Weighted average interest rate (in hundredths)</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="us-gaap_DebtWeightedAverageInterestRate_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase">Variable interest rate (in hundredths)</label>
    <loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2016/elts/us-gaap-2016-01-31.xsd#us-gaap_DebtInstrumentTable" xlink:label="us-gaap_DebtInstrumentTable" xmlns="http://www.xbrl.org/2003/linkbase" />
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_DebtInstrumentTable" xlink:to="us-gaap_DebtInstrumentTable_lbl" xmlns="http://www.xbrl.org/2003/linkbase" />
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_DebtInstrumentTable_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase">Schedule of Long-term Debt Instruments [Table]</label>
    <loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2016/elts/us-gaap-2016-01-31.xsd#us-gaap_LongtermDebtTypeAxis" xlink:label="us-gaap_LongtermDebtTypeAxis" xmlns="http://www.xbrl.org/2003/linkbase" />
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_LongtermDebtTypeAxis" xlink:to="us-gaap_LongtermDebtTypeAxis_lbl" xmlns="http://www.xbrl.org/2003/linkbase" />
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_LongtermDebtTypeAxis_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase">Long-term Debt, Type [Axis]</label>
    <loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2016/elts/us-gaap-2016-01-31.xsd#us-gaap_LongtermDebtTypeDomain" xlink:label="us-gaap_LongtermDebtTypeDomain" xmlns="http://www.xbrl.org/2003/linkbase" />
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_LongtermDebtTypeDomain" xlink:to="us-gaap_LongtermDebtTypeDomain_lbl" xmlns="http://www.xbrl.org/2003/linkbase" />
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_LongtermDebtTypeDomain_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase">Longterm Debt Type [Domain]</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="us-gaap_LongtermDebtTypeDomain_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase">Long-term Debt, Type [Domain]</label>
    <loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2016/elts/us-gaap-2016-01-31.xsd#us-gaap_MortgagesMember" xlink:label="us-gaap_MortgagesMember" xmlns="http://www.xbrl.org/2003/linkbase" />
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_MortgagesMember" xlink:to="us-gaap_MortgagesMember_lbl" xmlns="http://www.xbrl.org/2003/linkbase" />
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_MortgagesMember_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase">Mortgages [Member]</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="us-gaap_MortgagesMember_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase">Mortgages Payable [Member]</label>
    <loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2016/elts/us-gaap-2016-01-31.xsd#us-gaap_ConstructionLoanPayableMember" xlink:label="us-gaap_ConstructionLoanPayableMember" xmlns="http://www.xbrl.org/2003/linkbase" />
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_ConstructionLoanPayableMember" xlink:to="us-gaap_ConstructionLoanPayableMember_lbl" xmlns="http://www.xbrl.org/2003/linkbase" />
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_ConstructionLoanPayableMember_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase">Construction Loan Payable [Member]</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="us-gaap_ConstructionLoanPayableMember_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase">Construction Debt [Member]</label>
    <loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2016/elts/us-gaap-2016-01-31.xsd#us-gaap_DebtInstrumentLineItems" xlink:label="us-gaap_DebtInstrumentLineItems" xmlns="http://www.xbrl.org/2003/linkbase" />
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_DebtInstrumentLineItems" xlink:to="us-gaap_DebtInstrumentLineItems_lbl" xmlns="http://www.xbrl.org/2003/linkbase" />
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_DebtInstrumentLineItems_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase">Debt Instrument [Line Items]</label>
    <loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2016/elts/us-gaap-2016-01-31.xsd#us-gaap_MortgageLoansOnRealEstateInterestRate" xlink:label="us-gaap_MortgageLoansOnRealEstateInterestRate" xmlns="http://www.xbrl.org/2003/linkbase" />
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_MortgageLoansOnRealEstateInterestRate" xlink:to="us-gaap_MortgageLoansOnRealEstateInterestRate_lbl" xmlns="http://www.xbrl.org/2003/linkbase" />
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_MortgageLoansOnRealEstateInterestRate_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase">Interest rate on mortgages payable (in hundredths)</label>
    <loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2016/elts/us-gaap-2016-01-31.xsd#us-gaap_DebtInstrumentMaturityDateRangeStart1" xlink:label="us-gaap_DebtInstrumentMaturityDateRangeStart1" xmlns="http://www.xbrl.org/2003/linkbase" />
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_DebtInstrumentMaturityDateRangeStart1" xlink:to="us-gaap_DebtInstrumentMaturityDateRangeStart1_lbl" xmlns="http://www.xbrl.org/2003/linkbase" />
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_DebtInstrumentMaturityDateRangeStart1_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase">Mortgages maturity date range, start</label>
    <loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2016/elts/us-gaap-2016-01-31.xsd#us-gaap_DebtInstrumentMaturityDateRangeEnd1" xlink:label="us-gaap_DebtInstrumentMaturityDateRangeEnd1" xmlns="http://www.xbrl.org/2003/linkbase" />
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_DebtInstrumentMaturityDateRangeEnd1" xlink:to="us-gaap_DebtInstrumentMaturityDateRangeEnd1_lbl" xmlns="http://www.xbrl.org/2003/linkbase" />
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_DebtInstrumentMaturityDateRangeEnd1_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase">Mortgages maturity date range, end</label>
    <loc xlink:type="locator" xlink:href="iret-20170430.xsd#iret_NumberOfLoansInDefault" xlink:label="iret_NumberOfLoansInDefault" xmlns="http://www.xbrl.org/2003/linkbase" />
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="iret_NumberOfLoansInDefault" xlink:to="iret_NumberOfLoansInDefault_lbl" xmlns="http://www.xbrl.org/2003/linkbase" />
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="iret_NumberOfLoansInDefault_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase">Refers to number of loans in default</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="iret_NumberOfLoansInDefault_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase">Number of Loans in Default</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="iret_NumberOfLoansInDefault_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase">Number of loans in default</label>
    <loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2016/elts/us-gaap-2016-01-31.xsd#us-gaap_LongtermDebtPercentageBearingFixedInterestAmount" xlink:label="us-gaap_LongtermDebtPercentageBearingFixedInterestAmount" xmlns="http://www.xbrl.org/2003/linkbase" />
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_LongtermDebtPercentageBearingFixedInterestAmount" xlink:to="us-gaap_LongtermDebtPercentageBearingFixedInterestAmount_lbl" xmlns="http://www.xbrl.org/2003/linkbase" />
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_LongtermDebtPercentageBearingFixedInterestAmount_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase">Fixed rate mortgages</label>
    <loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2016/elts/us-gaap-2016-01-31.xsd#us-gaap_LongtermDebtPercentageBearingVariableInterestAmount" xlink:label="us-gaap_LongtermDebtPercentageBearingVariableInterestAmount" xmlns="http://www.xbrl.org/2003/linkbase" />
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_LongtermDebtPercentageBearingVariableInterestAmount" xlink:to="us-gaap_LongtermDebtPercentageBearingVariableInterestAmount_lbl" xmlns="http://www.xbrl.org/2003/linkbase" />
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_LongtermDebtPercentageBearingVariableInterestAmount_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase">Variable rate mortgages</label>
    <loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2016/elts/us-gaap-2016-01-31.xsd#us-gaap_ConstructionLoan" xlink:label="us-gaap_ConstructionLoan" xmlns="http://www.xbrl.org/2003/linkbase" />
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_ConstructionLoan" xlink:to="us-gaap_ConstructionLoan_lbl" xmlns="http://www.xbrl.org/2003/linkbase" />
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_ConstructionLoan_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase">Loans Closed or Committed</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:label="us-gaap_ConstructionLoan_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase">Construction debt</label>
    <loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2016/elts/us-gaap-2016-01-31.xsd#us-gaap_DebtInstrumentUnusedBorrowingCapacityAmount" xlink:label="us-gaap_DebtInstrumentUnusedBorrowingCapacityAmount" xmlns="http://www.xbrl.org/2003/linkbase" />
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_DebtInstrumentUnusedBorrowingCapacityAmount" xlink:to="us-gaap_DebtInstrumentUnusedBorrowingCapacityAmount_lbl" xmlns="http://www.xbrl.org/2003/linkbase" />
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_DebtInstrumentUnusedBorrowingCapacityAmount_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase">Debt Instrument, Unused Borrowing Capacity, Amount</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="us-gaap_DebtInstrumentUnusedBorrowingCapacityAmount_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase">Amount available to be drawn under construction loans</label>
    <loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2016/elts/us-gaap-2016-01-31.xsd#us-gaap_LongTermDebtByMaturityAbstract" xlink:label="us-gaap_LongTermDebtByMaturityAbstract" xmlns="http://www.xbrl.org/2003/linkbase" />
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_LongTermDebtByMaturityAbstract" xlink:to="us-gaap_LongTermDebtByMaturityAbstract_lbl" xmlns="http://www.xbrl.org/2003/linkbase" />
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_LongTermDebtByMaturityAbstract_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase">Aggregate amount of required future principal payments on mortgages payable [Abstract]</label>
    <loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2016/elts/us-gaap-2016-01-31.xsd#us-gaap_LongTermDebtMaturitiesRepaymentsOfPrincipalInNextTwelveMonths" xlink:label="us-gaap_LongTermDebtMaturitiesRepaymentsOfPrincipalInNextTwelveMonths" xmlns="http://www.xbrl.org/2003/linkbase" />
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_LongTermDebtMaturitiesRepaymentsOfPrincipalInNextTwelveMonths" xlink:to="us-gaap_LongTermDebtMaturitiesRepaymentsOfPrincipalInNextTwelveMonths_lbl" xmlns="http://www.xbrl.org/2003/linkbase" />
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_LongTermDebtMaturitiesRepaymentsOfPrincipalInNextTwelveMonths_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase">Long-term Debt, Maturities, Repayments of Principal in Next Twelve Months</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:label="us-gaap_LongTermDebtMaturitiesRepaymentsOfPrincipalInNextTwelveMonths_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase">2018</label>
    <loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2016/elts/us-gaap-2016-01-31.xsd#us-gaap_LongTermDebtMaturitiesRepaymentsOfPrincipalInYearTwo" xlink:label="us-gaap_LongTermDebtMaturitiesRepaymentsOfPrincipalInYearTwo" xmlns="http://www.xbrl.org/2003/linkbase" />
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_LongTermDebtMaturitiesRepaymentsOfPrincipalInYearTwo" xlink:to="us-gaap_LongTermDebtMaturitiesRepaymentsOfPrincipalInYearTwo_lbl" xmlns="http://www.xbrl.org/2003/linkbase" />
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_LongTermDebtMaturitiesRepaymentsOfPrincipalInYearTwo_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase">Long-term Debt, Maturities, Repayments of Principal in Year Two</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:label="us-gaap_LongTermDebtMaturitiesRepaymentsOfPrincipalInYearTwo_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase">2019</label>
    <loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2016/elts/us-gaap-2016-01-31.xsd#us-gaap_LongTermDebtMaturitiesRepaymentsOfPrincipalInYearThree" xlink:label="us-gaap_LongTermDebtMaturitiesRepaymentsOfPrincipalInYearThree" xmlns="http://www.xbrl.org/2003/linkbase" />
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_LongTermDebtMaturitiesRepaymentsOfPrincipalInYearThree" xlink:to="us-gaap_LongTermDebtMaturitiesRepaymentsOfPrincipalInYearThree_lbl" xmlns="http://www.xbrl.org/2003/linkbase" />
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_LongTermDebtMaturitiesRepaymentsOfPrincipalInYearThree_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase">Long-term Debt, Maturities, Repayments of Principal in Year Three</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:label="us-gaap_LongTermDebtMaturitiesRepaymentsOfPrincipalInYearThree_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase">2020</label>
    <loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2016/elts/us-gaap-2016-01-31.xsd#us-gaap_LongTermDebtMaturitiesRepaymentsOfPrincipalInYearFour" xlink:label="us-gaap_LongTermDebtMaturitiesRepaymentsOfPrincipalInYearFour" xmlns="http://www.xbrl.org/2003/linkbase" />
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_LongTermDebtMaturitiesRepaymentsOfPrincipalInYearFour" xlink:to="us-gaap_LongTermDebtMaturitiesRepaymentsOfPrincipalInYearFour_lbl" xmlns="http://www.xbrl.org/2003/linkbase" />
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_LongTermDebtMaturitiesRepaymentsOfPrincipalInYearFour_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase">Long-term Debt, Maturities, Repayments of Principal in Year Four</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:label="us-gaap_LongTermDebtMaturitiesRepaymentsOfPrincipalInYearFour_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase">2021</label>
    <loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2016/elts/us-gaap-2016-01-31.xsd#us-gaap_LongTermDebtMaturitiesRepaymentsOfPrincipalInYearFive" xlink:label="us-gaap_LongTermDebtMaturitiesRepaymentsOfPrincipalInYearFive" xmlns="http://www.xbrl.org/2003/linkbase" />
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_LongTermDebtMaturitiesRepaymentsOfPrincipalInYearFive" xlink:to="us-gaap_LongTermDebtMaturitiesRepaymentsOfPrincipalInYearFive_lbl" xmlns="http://www.xbrl.org/2003/linkbase" />
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_LongTermDebtMaturitiesRepaymentsOfPrincipalInYearFive_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase">Long-term Debt, Maturities, Repayments of Principal in Year Five</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:label="us-gaap_LongTermDebtMaturitiesRepaymentsOfPrincipalInYearFive_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase">2022</label>
    <loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2016/elts/us-gaap-2016-01-31.xsd#us-gaap_LongTermDebtMaturitiesRepaymentsOfPrincipalAfterYearFive" xlink:label="us-gaap_LongTermDebtMaturitiesRepaymentsOfPrincipalAfterYearFive" xmlns="http://www.xbrl.org/2003/linkbase" />
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_LongTermDebtMaturitiesRepaymentsOfPrincipalAfterYearFive" xlink:to="us-gaap_LongTermDebtMaturitiesRepaymentsOfPrincipalAfterYearFive_lbl" xmlns="http://www.xbrl.org/2003/linkbase" />
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_LongTermDebtMaturitiesRepaymentsOfPrincipalAfterYearFive_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase">Long-term Debt, Maturities, Repayments of Principal after Year Five</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:label="us-gaap_LongTermDebtMaturitiesRepaymentsOfPrincipalAfterYearFive_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase">Thereafter</label>
    <loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2016/elts/us-gaap-2016-01-31.xsd#us-gaap_MortgageLoansOnRealEstate" xlink:label="us-gaap_MortgageLoansOnRealEstate" xmlns="http://www.xbrl.org/2003/linkbase" />
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_MortgageLoansOnRealEstate" xlink:to="us-gaap_MortgageLoansOnRealEstate_lbl" xmlns="http://www.xbrl.org/2003/linkbase" />
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_MortgageLoansOnRealEstate_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase">Mortgage Loans on Real Estate</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="us-gaap_MortgageLoansOnRealEstate_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase">Mortgage indebtness</label>
    <loc xlink:type="locator" xlink:href="iret-20170430.xsd#iret_NumberOfPropertiesNotSecuringLineOfCredit" xlink:label="iret_NumberOfPropertiesNotSecuringLineOfCredit" xmlns="http://www.xbrl.org/2003/linkbase" />
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="iret_NumberOfPropertiesNotSecuringLineOfCredit" xlink:to="iret_NumberOfPropertiesNotSecuringLineOfCredit_lbl" xmlns="http://www.xbrl.org/2003/linkbase" />
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="iret_NumberOfPropertiesNotSecuringLineOfCredit_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase">The number of properties which are not used as security for the line of credit.</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="iret_NumberOfPropertiesNotSecuringLineOfCredit_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase">Number of properties not securing line of credit</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="iret_NumberOfPropertiesNotSecuringLineOfCredit_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase">Number of properties not encumbered</label>
    <loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2016/elts/us-gaap-2016-01-31.xsd#us-gaap_ScheduleOfRelatedPartyTransactionsByRelatedPartyTable" xlink:label="us-gaap_ScheduleOfRelatedPartyTransactionsByRelatedPartyTable" xmlns="http://www.xbrl.org/2003/linkbase" />
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_ScheduleOfRelatedPartyTransactionsByRelatedPartyTable" xlink:to="us-gaap_ScheduleOfRelatedPartyTransactionsByRelatedPartyTable_lbl" xmlns="http://www.xbrl.org/2003/linkbase" />
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_ScheduleOfRelatedPartyTransactionsByRelatedPartyTable_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase">Schedule of Related Party Transactions, by Related Party [Table]</label>
    <loc xlink:type="locator" xlink:href="iret-20170430.xsd#iret_RenaissanceHeightsIWillistonNdMember" xlink:label="iret_RenaissanceHeightsIWillistonNdMember" xmlns="http://www.xbrl.org/2003/linkbase" />
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="iret_RenaissanceHeightsIWillistonNdMember" xlink:to="iret_RenaissanceHeightsIWillistonNdMember_lbl" xmlns="http://www.xbrl.org/2003/linkbase" />
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="iret_RenaissanceHeightsIWillistonNdMember_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase">Renaissance Heights I - Williston, ND property acquired or disposed.</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="iret_RenaissanceHeightsIWillistonNdMember_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase">Renaissance Heights I Williston Nd [Member]</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="iret_RenaissanceHeightsIWillistonNdMember_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase">Renaissance Heights I - Williston ND [Member]</label>
    <loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2016/elts/us-gaap-2016-01-31.xsd#us-gaap_RelatedPartyTransactionsByRelatedPartyAxis" xlink:label="us-gaap_RelatedPartyTransactionsByRelatedPartyAxis" xmlns="http://www.xbrl.org/2003/linkbase" />
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_RelatedPartyTransactionsByRelatedPartyAxis" xlink:to="us-gaap_RelatedPartyTransactionsByRelatedPartyAxis_lbl" xmlns="http://www.xbrl.org/2003/linkbase" />
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_RelatedPartyTransactionsByRelatedPartyAxis_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase">Related Party [Axis]</label>
    <loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2016/elts/us-gaap-2016-01-31.xsd#us-gaap_RelatedPartyDomain" xlink:label="us-gaap_RelatedPartyDomain" xmlns="http://www.xbrl.org/2003/linkbase" />
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_RelatedPartyDomain" xlink:to="us-gaap_RelatedPartyDomain_lbl" xmlns="http://www.xbrl.org/2003/linkbase" />
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_RelatedPartyDomain_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase">Related Party [Domain]</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="us-gaap_RelatedPartyDomain_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase">Related Party [Domain]</label>
    <loc xlink:type="locator" xlink:href="iret-20170430.xsd#iret_MultiBankLineOfCreditMember" xlink:label="iret_MultiBankLineOfCreditMember" xmlns="http://www.xbrl.org/2003/linkbase" />
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="iret_MultiBankLineOfCreditMember" xlink:to="iret_MultiBankLineOfCreditMember_lbl" xmlns="http://www.xbrl.org/2003/linkbase" />
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="iret_MultiBankLineOfCreditMember_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase">Refers to the borrowing facility under multi bank Line of Credit facility.</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="iret_MultiBankLineOfCreditMember_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase">Multi Bank Line Of Credit [Member]</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="iret_MultiBankLineOfCreditMember_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase">Multi bank Line of Credit [Member]</label>
    <loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2016/elts/us-gaap-2016-01-31.xsd#us-gaap_RelatedPartyTransactionLineItems" xlink:label="us-gaap_RelatedPartyTransactionLineItems" xmlns="http://www.xbrl.org/2003/linkbase" />
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_RelatedPartyTransactionLineItems" xlink:to="us-gaap_RelatedPartyTransactionLineItems_lbl" xmlns="http://www.xbrl.org/2003/linkbase" />
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_RelatedPartyTransactionLineItems_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase">Related Party Transaction [Line Items]</label>
    <loc xlink:type="locator" xlink:href="iret-20170430.xsd#iret_BankingServicesAbstract" xlink:label="iret_BankingServicesAbstract" xmlns="http://www.xbrl.org/2003/linkbase" />
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="iret_BankingServicesAbstract" xlink:to="iret_BankingServicesAbstract_lbl" xmlns="http://www.xbrl.org/2003/linkbase" />
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="iret_BankingServicesAbstract_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase">BANKING SERVICES [Abstract]</label>
    <loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2016/elts/us-gaap-2016-01-31.xsd#us-gaap_MortgageLoansOnRealEstateNumberOfLoans" xlink:label="us-gaap_MortgageLoansOnRealEstateNumberOfLoans" xmlns="http://www.xbrl.org/2003/linkbase" />
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_MortgageLoansOnRealEstateNumberOfLoans" xlink:to="us-gaap_MortgageLoansOnRealEstateNumberOfLoans_lbl" xmlns="http://www.xbrl.org/2003/linkbase" />
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_MortgageLoansOnRealEstateNumberOfLoans_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase">Number of mortgage loans outstanding</label>
    <loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2016/elts/us-gaap-2016-01-31.xsd#us-gaap_DebtInstrumentFaceAmount" xlink:label="us-gaap_DebtInstrumentFaceAmount" xmlns="http://www.xbrl.org/2003/linkbase" />
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_DebtInstrumentFaceAmount" xlink:to="us-gaap_DebtInstrumentFaceAmount_lbl" xmlns="http://www.xbrl.org/2003/linkbase" />
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_DebtInstrumentFaceAmount_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase">Debt Instrument, Face Amount</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="us-gaap_DebtInstrumentFaceAmount_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase">Original principal balance</label>
    <loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2016/elts/us-gaap-2016-01-31.xsd#us-gaap_DebtInstrumentInterestRateStatedPercentage" xlink:label="us-gaap_DebtInstrumentInterestRateStatedPercentage" xmlns="http://www.xbrl.org/2003/linkbase" />
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_DebtInstrumentInterestRateStatedPercentage" xlink:to="us-gaap_DebtInstrumentInterestRateStatedPercentage_lbl" xmlns="http://www.xbrl.org/2003/linkbase" />
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_DebtInstrumentInterestRateStatedPercentage_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase">Debt Instrument, Interest Rate, Stated Percentage</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="us-gaap_DebtInstrumentInterestRateStatedPercentage_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase">Fixed interest rate (in hundredths)</label>
    <loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2016/elts/us-gaap-2016-01-31.xsd#us-gaap_InterestExpenseRelatedParty" xlink:label="us-gaap_InterestExpenseRelatedParty" xmlns="http://www.xbrl.org/2003/linkbase" />
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_InterestExpenseRelatedParty" xlink:to="us-gaap_InterestExpenseRelatedParty_lbl" xmlns="http://www.xbrl.org/2003/linkbase" />
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_InterestExpenseRelatedParty_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase">Interest paid</label>
    <loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2016/elts/us-gaap-2016-01-31.xsd#us-gaap_RealEstateOtherDeductions" xlink:label="us-gaap_RealEstateOtherDeductions" xmlns="http://www.xbrl.org/2003/linkbase" />
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_RealEstateOtherDeductions" xlink:to="us-gaap_RealEstateOtherDeductions_lbl" xmlns="http://www.xbrl.org/2003/linkbase" />
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_RealEstateOtherDeductions_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase">Balance drawn on construction loan</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2009/role/negatedLabel" xlink:label="us-gaap_RealEstateOtherDeductions_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase">Other</label>
    <loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2016/elts/us-gaap-2016-01-31.xsd#us-gaap_LoanProcessingFee" xlink:label="us-gaap_LoanProcessingFee" xmlns="http://www.xbrl.org/2003/linkbase" />
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_LoanProcessingFee" xlink:to="us-gaap_LoanProcessingFee_lbl" xmlns="http://www.xbrl.org/2003/linkbase" />
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_LoanProcessingFee_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase">Bank services charges and fee</label>
    <loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2016/elts/us-gaap-2016-01-31.xsd#us-gaap_InterestBearingDepositLiabilitiesDomestic" xlink:label="us-gaap_InterestBearingDepositLiabilitiesDomestic" xmlns="http://www.xbrl.org/2003/linkbase" />
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_InterestBearingDepositLiabilitiesDomestic" xlink:to="us-gaap_InterestBearingDepositLiabilitiesDomestic_lbl" xmlns="http://www.xbrl.org/2003/linkbase" />
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_InterestBearingDepositLiabilitiesDomestic_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase">Interest bearing account</label>
    <loc xlink:type="locator" xlink:href="iret-20170430.xsd#iret_PercentageInterestOnDepositedAmount" xlink:label="iret_PercentageInterestOnDepositedAmount" xmlns="http://www.xbrl.org/2003/linkbase" />
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="iret_PercentageInterestOnDepositedAmount" xlink:to="iret_PercentageInterestOnDepositedAmount_lbl" xmlns="http://www.xbrl.org/2003/linkbase" />
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="iret_PercentageInterestOnDepositedAmount_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase">The held in an account that pays the entity interest on the deposited amount.</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="iret_PercentageInterestOnDepositedAmount_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase">Percentage interest on deposited amount</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="iret_PercentageInterestOnDepositedAmount_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase">Percentage interest on deposited amount (in hundredths)</label>
    <loc xlink:type="locator" xlink:href="iret-20170430.xsd#iret_BankServiceAndOtherFeesCharged" xlink:label="iret_BankServiceAndOtherFeesCharged" xmlns="http://www.xbrl.org/2003/linkbase" />
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="iret_BankServiceAndOtherFeesCharged" xlink:to="iret_BankServiceAndOtherFeesCharged_lbl" xmlns="http://www.xbrl.org/2003/linkbase" />
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="iret_BankServiceAndOtherFeesCharged_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase">The amount related bank service and other fees charged on checking accounts.</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="iret_BankServiceAndOtherFeesCharged_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase">Bank service and other fees charged</label>
    <loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2016/elts/us-gaap-2016-01-31.xsd#us-gaap_RelatedPartyTransactionExpensesFromTransactionsWithRelatedParty" xlink:label="us-gaap_RelatedPartyTransactionExpensesFromTransactionsWithRelatedParty" xmlns="http://www.xbrl.org/2003/linkbase" />
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_RelatedPartyTransactionExpensesFromTransactionsWithRelatedParty" xlink:to="us-gaap_RelatedPartyTransactionExpensesFromTransactionsWithRelatedParty_lbl" xmlns="http://www.xbrl.org/2003/linkbase" />
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_RelatedPartyTransactionExpensesFromTransactionsWithRelatedParty_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase">Interest and fees paid amount</label>
    <loc xlink:type="locator" xlink:href="iret-20170430.xsd#iret_LeaseTransactionAbstract" xlink:label="iret_LeaseTransactionAbstract" xmlns="http://www.xbrl.org/2003/linkbase" />
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="iret_LeaseTransactionAbstract" xlink:to="iret_LeaseTransactionAbstract_lbl" xmlns="http://www.xbrl.org/2003/linkbase" />
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="iret_LeaseTransactionAbstract_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase">LEASE TRANSACTION [Abstract]</label>
    <loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2016/elts/us-gaap-2016-01-31.xsd#us-gaap_Revenues" xlink:label="us-gaap_Revenues" xmlns="http://www.xbrl.org/2003/linkbase" />
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_Revenues" xlink:to="us-gaap_Revenues_lbl" xmlns="http://www.xbrl.org/2003/linkbase" />
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_Revenues_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase">Revenues</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="us-gaap_Revenues_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase">Sale price</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:label="us-gaap_Revenues_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase">Sale price</label>
    <loc xlink:type="locator" xlink:href="iret-20170430.xsd#iret_SalesAgreementAbstract" xlink:label="iret_SalesAgreementAbstract" xmlns="http://www.xbrl.org/2003/linkbase" />
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="iret_SalesAgreementAbstract" xlink:to="iret_SalesAgreementAbstract_lbl" xmlns="http://www.xbrl.org/2003/linkbase" />
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="iret_SalesAgreementAbstract_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase">Sales Agreement [Abstract]</label>
    <loc xlink:type="locator" xlink:href="iret-20170430.xsd#iret_SaleAmountOfPendingDisposition" xlink:label="iret_SaleAmountOfPendingDisposition" xmlns="http://www.xbrl.org/2003/linkbase" />
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="iret_SaleAmountOfPendingDisposition" xlink:to="iret_SaleAmountOfPendingDisposition_lbl" xmlns="http://www.xbrl.org/2003/linkbase" />
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="iret_SaleAmountOfPendingDisposition_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase">Sale amount of pending disposition.</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="iret_SaleAmountOfPendingDisposition_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase">Sale Amount of Pending Disposition</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="iret_SaleAmountOfPendingDisposition_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase">Sales price of pending disposition</label>
    <loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2016/elts/us-gaap-2016-01-31.xsd#us-gaap_ScheduleOfBusinessAcquisitionsByAcquisitionTable" xlink:label="us-gaap_ScheduleOfBusinessAcquisitionsByAcquisitionTable" xmlns="http://www.xbrl.org/2003/linkbase" />
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_ScheduleOfBusinessAcquisitionsByAcquisitionTable" xlink:to="us-gaap_ScheduleOfBusinessAcquisitionsByAcquisitionTable_lbl" xmlns="http://www.xbrl.org/2003/linkbase" />
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_ScheduleOfBusinessAcquisitionsByAcquisitionTable_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase">Schedule of Business Acquisitions, by Acquisition [Table]</label>
    <loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2016/elts/us-gaap-2016-01-31.xsd#us-gaap_MajorPropertyClassAxis" xlink:label="us-gaap_MajorPropertyClassAxis" xmlns="http://www.xbrl.org/2003/linkbase" />
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_MajorPropertyClassAxis" xlink:to="us-gaap_MajorPropertyClassAxis_lbl" xmlns="http://www.xbrl.org/2003/linkbase" />
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_MajorPropertyClassAxis_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase">Major Property Class [Axis]</label>
    <loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2016/elts/us-gaap-2016-01-31.xsd#us-gaap_MajorPropertyClassDomain" xlink:label="us-gaap_MajorPropertyClassDomain" xmlns="http://www.xbrl.org/2003/linkbase" />
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_MajorPropertyClassDomain" xlink:to="us-gaap_MajorPropertyClassDomain_lbl" xmlns="http://www.xbrl.org/2003/linkbase" />
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_MajorPropertyClassDomain_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase">Major Property Class [Domain]</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="us-gaap_MajorPropertyClassDomain_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase">Major Property Class [Domain]</label>
    <loc xlink:type="locator" xlink:href="iret-20170430.xsd#iret_AcquisitionsMember" xlink:label="iret_AcquisitionsMember" xmlns="http://www.xbrl.org/2003/linkbase" />
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="iret_AcquisitionsMember" xlink:to="iret_AcquisitionsMember_lbl" xmlns="http://www.xbrl.org/2003/linkbase" />
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="iret_AcquisitionsMember_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase">Properties acquired.</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="iret_AcquisitionsMember_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase">Acquisitions [Member]</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="iret_AcquisitionsMember_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase">Acquisitions Member</label>
    <loc xlink:type="locator" xlink:href="iret-20170430.xsd#iret_CommercialMedicalMember" xlink:label="iret_CommercialMedicalMember" xmlns="http://www.xbrl.org/2003/linkbase" />
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="iret_CommercialMedicalMember" xlink:to="iret_CommercialMedicalMember_lbl" xmlns="http://www.xbrl.org/2003/linkbase" />
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="iret_CommercialMedicalMember_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase">A business segment for reporting the information separately.</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="iret_CommercialMedicalMember_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase">Commercial Medical [Member]</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="iret_CommercialMedicalMember_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase">Healthcare [Member]</label>
    <loc xlink:type="locator" xlink:href="iret-20170430.xsd#iret_GardensGrandForksNDUnitsMember" xlink:label="iret_GardensGrandForksNDUnitsMember" xmlns="http://www.xbrl.org/2003/linkbase" />
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="iret_GardensGrandForksNDUnitsMember" xlink:to="iret_GardensGrandForksNDUnitsMember_lbl" xmlns="http://www.xbrl.org/2003/linkbase" />
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="iret_GardensGrandForksNDUnitsMember_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase">Refers to Gardens - Grand Forks, ND, units.</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="iret_GardensGrandForksNDUnitsMember_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase">Gardens Grand Forks N D Units [Member]</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="iret_GardensGrandForksNDUnitsMember_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase">74 unit - Gardens - Grand Forks, ND [Member]</label>
    <loc xlink:type="locator" xlink:href="iret-20170430.xsd#iret_GrandeVilleAtCascadeLakeRochesterMNUnitsMember" xlink:label="iret_GrandeVilleAtCascadeLakeRochesterMNUnitsMember" xmlns="http://www.xbrl.org/2003/linkbase" />
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="iret_GrandeVilleAtCascadeLakeRochesterMNUnitsMember" xlink:to="iret_GrandeVilleAtCascadeLakeRochesterMNUnitsMember_lbl" xmlns="http://www.xbrl.org/2003/linkbase" />
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="iret_GrandeVilleAtCascadeLakeRochesterMNUnitsMember_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase">Refers to GrandeVille at Cascade Lake - Rochester, MN, units.</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="iret_GrandeVilleAtCascadeLakeRochesterMNUnitsMember_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase">Grande Ville At Cascade Lake Rochester M N Units [Member]</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="iret_GrandeVilleAtCascadeLakeRochesterMNUnitsMember_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase">276 unit - GrandeVille at Cascade Lake - Rochester, MN [Member]</label>
    <loc xlink:type="locator" xlink:href="iret-20170430.xsd#iret_CascadeShoresRochesterMnUnitsMember" xlink:label="iret_CascadeShoresRochesterMnUnitsMember" xmlns="http://www.xbrl.org/2003/linkbase" />
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="iret_CascadeShoresRochesterMnUnitsMember" xlink:to="iret_CascadeShoresRochesterMnUnitsMember_lbl" xmlns="http://www.xbrl.org/2003/linkbase" />
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="iret_CascadeShoresRochesterMnUnitsMember_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase">Refers to Cascade Shores - Rochester, MN units.</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="iret_CascadeShoresRochesterMnUnitsMember_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase">Cascade Shores Rochester Mn Units [Member]</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="iret_CascadeShoresRochesterMnUnitsMember_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase">90 unit - Cascade Shores - Rochester, MN [Member]</label>
    <loc xlink:type="locator" xlink:href="iret-20170430.xsd#iret_CrystalBayRochesterMnUnitsMember" xlink:label="iret_CrystalBayRochesterMnUnitsMember" xmlns="http://www.xbrl.org/2003/linkbase" />
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="iret_CrystalBayRochesterMnUnitsMember" xlink:to="iret_CrystalBayRochesterMnUnitsMember_lbl" xmlns="http://www.xbrl.org/2003/linkbase" />
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="iret_CrystalBayRochesterMnUnitsMember_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase">Refers to Crystal Bay - Rochester, MN units.</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="iret_CrystalBayRochesterMnUnitsMember_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase">Crystal Bay Rochester Mn Units [Member]</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="iret_CrystalBayRochesterMnUnitsMember_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase">76 unit - Crystal Bay - Rochester, MN [Member]</label>
    <loc xlink:type="locator" xlink:href="iret-20170430.xsd#iret_FrenchCreekRochesterMnUnitsMember" xlink:label="iret_FrenchCreekRochesterMnUnitsMember" xmlns="http://www.xbrl.org/2003/linkbase" />
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="iret_FrenchCreekRochesterMnUnitsMember" xlink:to="iret_FrenchCreekRochesterMnUnitsMember_lbl" xmlns="http://www.xbrl.org/2003/linkbase" />
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="iret_FrenchCreekRochesterMnUnitsMember_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase">Refers to French Creek - Rochester, MN units.</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="iret_FrenchCreekRochesterMnUnitsMember_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase">French Creek Rochester Mn Units [Member]</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="iret_FrenchCreekRochesterMnUnitsMember_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase">40-unit - French Creek - Rochester, MN [Member]</label>
    <loc xlink:type="locator" xlink:href="iret-20170430.xsd#iret_LakesideMedicalPlazaOmahaNESquareFeetAreaMember" xlink:label="iret_LakesideMedicalPlazaOmahaNESquareFeetAreaMember" xmlns="http://www.xbrl.org/2003/linkbase" />
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="iret_LakesideMedicalPlazaOmahaNESquareFeetAreaMember" xlink:to="iret_LakesideMedicalPlazaOmahaNESquareFeetAreaMember_lbl" xmlns="http://www.xbrl.org/2003/linkbase" />
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="iret_LakesideMedicalPlazaOmahaNESquareFeetAreaMember_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase">Refers to Lakeside Medical Plaza - Omaha, NE, square feet area.</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="iret_LakesideMedicalPlazaOmahaNESquareFeetAreaMember_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase">Lakeside Medical Plaza Omaha N E Square Feet Area [Member]</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="iret_LakesideMedicalPlazaOmahaNESquareFeetAreaMember_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase">27,819 sq ft Lakeside Medical Plaza - Omaha, NE [Member]</label>
    <loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2016/elts/us-gaap-2016-01-31.xsd#us-gaap_BusinessAcquisitionLineItems" xlink:label="us-gaap_BusinessAcquisitionLineItems" xmlns="http://www.xbrl.org/2003/linkbase" />
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_BusinessAcquisitionLineItems" xlink:to="us-gaap_BusinessAcquisitionLineItems_lbl" xmlns="http://www.xbrl.org/2003/linkbase" />
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_BusinessAcquisitionLineItems_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase">Business Acquisition [Line Items]</label>
    <loc xlink:type="locator" xlink:href="iret-20170430.xsd#iret_TransactionCostsExpensedDuringPeriod" xlink:label="iret_TransactionCostsExpensedDuringPeriod" xmlns="http://www.xbrl.org/2003/linkbase" />
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="iret_TransactionCostsExpensedDuringPeriod" xlink:to="iret_TransactionCostsExpensedDuringPeriod_lbl" xmlns="http://www.xbrl.org/2003/linkbase" />
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="iret_TransactionCostsExpensedDuringPeriod_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase">Transaction costs expensed during the period.</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="iret_TransactionCostsExpensedDuringPeriod_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase">Transaction costs expensed during the period</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="iret_TransactionCostsExpensedDuringPeriod_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase">Transaction costs expensed during the period</label>
    <loc xlink:type="locator" xlink:href="iret-20170430.xsd#iret_AcquisitionsAndDevelopmentProjectsPlacedInServiceAbstract" xlink:label="iret_AcquisitionsAndDevelopmentProjectsPlacedInServiceAbstract" xmlns="http://www.xbrl.org/2003/linkbase" />
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="iret_AcquisitionsAndDevelopmentProjectsPlacedInServiceAbstract" xlink:to="iret_AcquisitionsAndDevelopmentProjectsPlacedInServiceAbstract_lbl" xmlns="http://www.xbrl.org/2003/linkbase" />
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="iret_AcquisitionsAndDevelopmentProjectsPlacedInServiceAbstract_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase">Acquisitions and development projects placed in service [Abstract]</label>
    <loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2016/elts/us-gaap-2016-01-31.xsd#us-gaap_BusinessAcquisitionDateOfAcquisitionAgreement1" xlink:label="us-gaap_BusinessAcquisitionDateOfAcquisitionAgreement1" xmlns="http://www.xbrl.org/2003/linkbase" />
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_BusinessAcquisitionDateOfAcquisitionAgreement1" xlink:to="us-gaap_BusinessAcquisitionDateOfAcquisitionAgreement1_lbl" xmlns="http://www.xbrl.org/2003/linkbase" />
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_BusinessAcquisitionDateOfAcquisitionAgreement1_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase">Business Acquisition, Date of Acquisition Agreement</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="us-gaap_BusinessAcquisitionDateOfAcquisitionAgreement1_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase">Date acquired</label>
    <loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2016/elts/us-gaap-2016-01-31.xsd#us-gaap_BusinessCombinationRecognizedIdentifiableAssetsAcquiredAndLiabilitiesAssumedLand" xlink:label="us-gaap_BusinessCombinationRecognizedIdentifiableAssetsAcquiredAndLiabilitiesAssumedLand" xmlns="http://www.xbrl.org/2003/linkbase" />
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_BusinessCombinationRecognizedIdentifiableAssetsAcquiredAndLiabilitiesAssumedLand" xlink:to="us-gaap_BusinessCombinationRecognizedIdentifiableAssetsAcquiredAndLiabilitiesAssumedLand_lbl" xmlns="http://www.xbrl.org/2003/linkbase" />
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_BusinessCombinationRecognizedIdentifiableAssetsAcquiredAndLiabilitiesAssumedLand_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase">Land</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="us-gaap_BusinessCombinationRecognizedIdentifiableAssetsAcquiredAndLiabilitiesAssumedLand_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase">Investment allocation, land</label>
    <loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2016/elts/us-gaap-2016-01-31.xsd#us-gaap_BusinessCombinationRecognizedIdentifiableAssetsAcquiredAndLiabilitiesAssumedBuildings" xlink:label="us-gaap_BusinessCombinationRecognizedIdentifiableAssetsAcquiredAndLiabilitiesAssumedBuildings" xmlns="http://www.xbrl.org/2003/linkbase" />
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_BusinessCombinationRecognizedIdentifiableAssetsAcquiredAndLiabilitiesAssumedBuildings" xlink:to="us-gaap_BusinessCombinationRecognizedIdentifiableAssetsAcquiredAndLiabilitiesAssumedBuildings_lbl" xmlns="http://www.xbrl.org/2003/linkbase" />
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_BusinessCombinationRecognizedIdentifiableAssetsAcquiredAndLiabilitiesAssumedBuildings_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase">Building</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="us-gaap_BusinessCombinationRecognizedIdentifiableAssetsAcquiredAndLiabilitiesAssumedBuildings_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase">Investment allocation, building</label>
    <loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2016/elts/us-gaap-2016-01-31.xsd#us-gaap_BusinessCombinationRecognizedIdentifiableAssetsAcquiredAndLiabilitiesAssumedIntangibleAssetsOtherThanGoodwill" xlink:label="us-gaap_BusinessCombinationRecognizedIdentifiableAssetsAcquiredAndLiabilitiesAssumedIntangibleAssetsOtherThanGoodwill" xmlns="http://www.xbrl.org/2003/linkbase" />
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_BusinessCombinationRecognizedIdentifiableAssetsAcquiredAndLiabilitiesAssumedIntangibleAssetsOtherThanGoodwill" xlink:to="us-gaap_BusinessCombinationRecognizedIdentifiableAssetsAcquiredAndLiabilitiesAssumedIntangibleAssetsOtherThanGoodwill_lbl" xmlns="http://www.xbrl.org/2003/linkbase" />
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_BusinessCombinationRecognizedIdentifiableAssetsAcquiredAndLiabilitiesAssumedIntangibleAssetsOtherThanGoodwill_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase">Business Combination, Recognized Identifiable Assets Acquired and Liabilities Assumed, Intangible Assets, Other than Goodwill</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="us-gaap_BusinessCombinationRecognizedIdentifiableAssetsAcquiredAndLiabilitiesAssumedIntangibleAssetsOtherThanGoodwill_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase">Investment allocation, intangible assets</label>
    <loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2016/elts/us-gaap-2016-01-31.xsd#us-gaap_AreaOfRealEstateProperty" xlink:label="us-gaap_AreaOfRealEstateProperty" xmlns="http://www.xbrl.org/2003/linkbase" />
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_AreaOfRealEstateProperty" xlink:to="us-gaap_AreaOfRealEstateProperty_lbl" xmlns="http://www.xbrl.org/2003/linkbase" />
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_AreaOfRealEstateProperty_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase">Area of real estate property</label>
    <loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2016/elts/us-gaap-2016-01-31.xsd#us-gaap_BusinessAcquisitionProFormaInformationAbstract" xlink:label="us-gaap_BusinessAcquisitionProFormaInformationAbstract" xmlns="http://www.xbrl.org/2003/linkbase" />
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_BusinessAcquisitionProFormaInformationAbstract" xlink:to="us-gaap_BusinessAcquisitionProFormaInformationAbstract_lbl" xmlns="http://www.xbrl.org/2003/linkbase" />
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_BusinessAcquisitionProFormaInformationAbstract_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase">Results of operations from acquired properties [Abstract]</label>
    <loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2016/elts/us-gaap-2016-01-31.xsd#us-gaap_BusinessCombinationProFormaInformationRevenueOfAcquireeSinceAcquisitionDateActual" xlink:label="us-gaap_BusinessCombinationProFormaInformationRevenueOfAcquireeSinceAcquisitionDateActual" xmlns="http://www.xbrl.org/2003/linkbase" />
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_BusinessCombinationProFormaInformationRevenueOfAcquireeSinceAcquisitionDateActual" xlink:to="us-gaap_BusinessCombinationProFormaInformationRevenueOfAcquireeSinceAcquisitionDateActual_lbl" xmlns="http://www.xbrl.org/2003/linkbase" />
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_BusinessCombinationProFormaInformationRevenueOfAcquireeSinceAcquisitionDateActual_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase">Business Combination, Pro Forma Information, Revenue of Acquiree since Acquisition Date, Actual</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="us-gaap_BusinessCombinationProFormaInformationRevenueOfAcquireeSinceAcquisitionDateActual_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase">Total revenue</label>
    <loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2016/elts/us-gaap-2016-01-31.xsd#us-gaap_BusinessCombinationProFormaInformationEarningsOrLossOfAcquireeSinceAcquisitionDateActual" xlink:label="us-gaap_BusinessCombinationProFormaInformationEarningsOrLossOfAcquireeSinceAcquisitionDateActual" xmlns="http://www.xbrl.org/2003/linkbase" />
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_BusinessCombinationProFormaInformationEarningsOrLossOfAcquireeSinceAcquisitionDateActual" xlink:to="us-gaap_BusinessCombinationProFormaInformationEarningsOrLossOfAcquireeSinceAcquisitionDateActual_lbl" xmlns="http://www.xbrl.org/2003/linkbase" />
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_BusinessCombinationProFormaInformationEarningsOrLossOfAcquireeSinceAcquisitionDateActual_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase">Business Combination, Pro Forma Information, Earnings or Loss of Acquiree since Acquisition Date, Actual</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="us-gaap_BusinessCombinationProFormaInformationEarningsOrLossOfAcquireeSinceAcquisitionDateActual_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase">Net loss</label>
    <loc xlink:type="locator" xlink:href="iret-20170430.xsd#iret_DevelopmentProjectsPlacedInServiceMember" xlink:label="iret_DevelopmentProjectsPlacedInServiceMember" xmlns="http://www.xbrl.org/2003/linkbase" />
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="iret_DevelopmentProjectsPlacedInServiceMember" xlink:to="iret_DevelopmentProjectsPlacedInServiceMember_lbl" xmlns="http://www.xbrl.org/2003/linkbase" />
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="iret_DevelopmentProjectsPlacedInServiceMember_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase">Property acquired by development projects placed in service.</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="iret_DevelopmentProjectsPlacedInServiceMember_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase">Development Projects Placed In Service [Member]</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="iret_DevelopmentProjectsPlacedInServiceMember_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase">Development Projects Placed in Service [Member]</label>
    <loc xlink:type="locator" xlink:href="iret-20170430.xsd#iret_OtherBusinessSegmentMember" xlink:label="iret_OtherBusinessSegmentMember" xmlns="http://www.xbrl.org/2003/linkbase" />
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="iret_OtherBusinessSegmentMember" xlink:to="iret_OtherBusinessSegmentMember_lbl" xmlns="http://www.xbrl.org/2003/linkbase" />
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="iret_OtherBusinessSegmentMember_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase">Refers to other business segment for reporting the information separately.</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="iret_OtherBusinessSegmentMember_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase">Other Business Segment [Member]</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="iret_OtherBusinessSegmentMember_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase">Other Member</label>
    <loc xlink:type="locator" xlink:href="iret-20170430.xsd#iret_ChateauIiMinotNdMember" xlink:label="iret_ChateauIiMinotNdMember" xmlns="http://www.xbrl.org/2003/linkbase" />
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="iret_ChateauIiMinotNdMember" xlink:to="iret_ChateauIiMinotNdMember_lbl" xmlns="http://www.xbrl.org/2003/linkbase" />
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="iret_ChateauIiMinotNdMember_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase">Chateau II - Minot, ND for development, expansion and renovation projects underway or recently completed.</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="iret_ChateauIiMinotNdMember_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase">Chateau Ii Minot Nd [Member]</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="iret_ChateauIiMinotNdMember_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase">72 unit - Chateau II - Minot, ND [Member]</label>
    <loc xlink:type="locator" xlink:href="iret-20170430.xsd#iret_RenaissanceHeightsWillistonNdMember" xlink:label="iret_RenaissanceHeightsWillistonNdMember" xmlns="http://www.xbrl.org/2003/linkbase" />
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="iret_RenaissanceHeightsWillistonNdMember" xlink:to="iret_RenaissanceHeightsWillistonNdMember_lbl" xmlns="http://www.xbrl.org/2003/linkbase" />
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="iret_RenaissanceHeightsWillistonNdMember_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase">Renaissance Heights - Williston ND for development, expansion and renovation projects underway or recently completed.</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="iret_RenaissanceHeightsWillistonNdMember_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase">Renaissance Heights Williston Nd [Member]</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="iret_RenaissanceHeightsWillistonNdMember_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase">Renaissance Heights - Williston, ND [Member]</label>
    <loc xlink:type="locator" xlink:href="iret-20170430.xsd#iret_Edina6565FranceSmcIiiEdinaMnSquareFeetMember" xlink:label="iret_Edina6565FranceSmcIiiEdinaMnSquareFeetMember" xmlns="http://www.xbrl.org/2003/linkbase" />
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="iret_Edina6565FranceSmcIiiEdinaMnSquareFeetMember" xlink:to="iret_Edina6565FranceSmcIiiEdinaMnSquareFeetMember_lbl" xmlns="http://www.xbrl.org/2003/linkbase" />
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="iret_Edina6565FranceSmcIiiEdinaMnSquareFeetMember_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase">Property acquired by development projects placed in service.</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="iret_Edina6565FranceSmcIiiEdinaMnSquareFeetMember_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase">Edina6565 France Smc Iii Edina Mn Square Feet [Member]</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="iret_Edina6565FranceSmcIiiEdinaMnSquareFeetMember_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase">57,624 sq ft Edina 6565 France SMC III - Edina, MN [Member]</label>
    <loc xlink:type="locator" xlink:href="iret-20170430.xsd#iret_DatePlacedInService" xlink:label="iret_DatePlacedInService" xmlns="http://www.xbrl.org/2003/linkbase" />
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="iret_DatePlacedInService" xlink:to="iret_DatePlacedInService_lbl" xmlns="http://www.xbrl.org/2003/linkbase" />
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="iret_DatePlacedInService_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase">Date a unit is placed in service in CCYY_MM_DD format.</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="iret_DatePlacedInService_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase">Date placed in service</label>
    <loc xlink:type="locator" xlink:href="iret-20170430.xsd#iret_DevelopmentCostsOfProjectsPlacedInService" xlink:label="iret_DevelopmentCostsOfProjectsPlacedInService" xmlns="http://www.xbrl.org/2003/linkbase" />
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="iret_DevelopmentCostsOfProjectsPlacedInService" xlink:to="iret_DevelopmentCostsOfProjectsPlacedInService_lbl" xmlns="http://www.xbrl.org/2003/linkbase" />
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="iret_DevelopmentCostsOfProjectsPlacedInService_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase">The amount of expenditures for a real estate projects that has been placed in service as of period end.</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="iret_DevelopmentCostsOfProjectsPlacedInService_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase">Development costs of projects placed in service</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/totalLabel" xlink:label="iret_DevelopmentCostsOfProjectsPlacedInService_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase">Development cost</label>
    <loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2016/elts/us-gaap-2016-01-31.xsd#us-gaap_DevelopmentCosts" xlink:label="us-gaap_DevelopmentCosts" xmlns="http://www.xbrl.org/2003/linkbase" />
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_DevelopmentCosts" xlink:to="us-gaap_DevelopmentCosts_lbl" xmlns="http://www.xbrl.org/2003/linkbase" />
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_DevelopmentCosts_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase">Development costs paid</label>
    <loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2016/elts/us-gaap-2016-01-31.xsd#us-gaap_DevelopmentCostsCumulative" xlink:label="us-gaap_DevelopmentCostsCumulative" xmlns="http://www.xbrl.org/2003/linkbase" />
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_DevelopmentCostsCumulative" xlink:to="us-gaap_DevelopmentCostsCumulative_lbl" xmlns="http://www.xbrl.org/2003/linkbase" />
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_DevelopmentCostsCumulative_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase">Project costs incurred to date</label>
    <loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2016/elts/us-gaap-2016-01-31.xsd#us-gaap_IncomeStatementBalanceSheetAndAdditionalDisclosuresByDisposalGroupsIncludingDiscontinuedOperationsTable" xlink:label="us-gaap_IncomeStatementBalanceSheetAndAdditionalDisclosuresByDisposalGroupsIncludingDiscontinuedOperationsTable" xmlns="http://www.xbrl.org/2003/linkbase" />
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_IncomeStatementBalanceSheetAndAdditionalDisclosuresByDisposalGroupsIncludingDiscontinuedOperationsTable" xlink:to="us-gaap_IncomeStatementBalanceSheetAndAdditionalDisclosuresByDisposalGroupsIncludingDiscontinuedOperationsTable_lbl" xmlns="http://www.xbrl.org/2003/linkbase" />
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_IncomeStatementBalanceSheetAndAdditionalDisclosuresByDisposalGroupsIncludingDiscontinuedOperationsTable_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase">Disposal Groups, Including Discontinued Operations [Table]</label>
    <loc xlink:type="locator" xlink:href="iret-20170430.xsd#iret_OtherDispositionMember" xlink:label="iret_OtherDispositionMember" xmlns="http://www.xbrl.org/2003/linkbase" />
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="iret_OtherDispositionMember" xlink:to="iret_OtherDispositionMember_lbl" xmlns="http://www.xbrl.org/2003/linkbase" />
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="iret_OtherDispositionMember_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase">A business segment for reporting the information separately.</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="iret_OtherDispositionMember_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase">Other Disposition [Member]</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="iret_OtherDispositionMember_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase">Other [Member]</label>
    <loc xlink:type="locator" xlink:href="iret-20170430.xsd#iret_ThresherSquareMinneapolisMNSquareFeetMember" xlink:label="iret_ThresherSquareMinneapolisMNSquareFeetMember" xmlns="http://www.xbrl.org/2003/linkbase" />
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="iret_ThresherSquareMinneapolisMNSquareFeetMember" xlink:to="iret_ThresherSquareMinneapolisMNSquareFeetMember_lbl" xmlns="http://www.xbrl.org/2003/linkbase" />
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="iret_ThresherSquareMinneapolisMNSquareFeetMember_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase">Refers to Thresher Square - Minneapolis, MN, square feet.</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="iret_ThresherSquareMinneapolisMNSquareFeetMember_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase">Thresher Square Minneapolis M N Square Feet [Member]</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="iret_ThresherSquareMinneapolisMNSquareFeetMember_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase">117,144 sq ft Thresher Square - Minneapolis, MN [Member]</label>
    <loc xlink:type="locator" xlink:href="iret-20170430.xsd#iret_OfficeSalePortfolioSquareFeetMember" xlink:label="iret_OfficeSalePortfolioSquareFeetMember" xmlns="http://www.xbrl.org/2003/linkbase" />
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="iret_OfficeSalePortfolioSquareFeetMember" xlink:to="iret_OfficeSalePortfolioSquareFeetMember_lbl" xmlns="http://www.xbrl.org/2003/linkbase" />
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="iret_OfficeSalePortfolioSquareFeetMember_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase">Refers to Office Sale Portfolio, square feet.</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="iret_OfficeSalePortfolioSquareFeetMember_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase">Office Sale Portfolio Square Feet [Member]</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="iret_OfficeSalePortfolioSquareFeetMember_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase">2,549,222 sq ft Office Sale Portfolio [Member]</label>
    <loc xlink:type="locator" xlink:href="iret-20170430.xsd#iret_MendotaOfficeCenterPortfolioMendotaHeightsMNSquareFeetMember" xlink:label="iret_MendotaOfficeCenterPortfolioMendotaHeightsMNSquareFeetMember" xmlns="http://www.xbrl.org/2003/linkbase" />
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="iret_MendotaOfficeCenterPortfolioMendotaHeightsMNSquareFeetMember" xlink:to="iret_MendotaOfficeCenterPortfolioMendotaHeightsMNSquareFeetMember_lbl" xmlns="http://www.xbrl.org/2003/linkbase" />
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="iret_MendotaOfficeCenterPortfolioMendotaHeightsMNSquareFeetMember_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase">Refers to Mendota Office Center Portfolio - Mendota Heights, MN, square feet.</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="iret_MendotaOfficeCenterPortfolioMendotaHeightsMNSquareFeetMember_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase">Mendota Office Center Portfolio Mendota Heights M N Square Feet [Member]</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="iret_MendotaOfficeCenterPortfolioMendotaHeightsMNSquareFeetMember_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase">420,216 sq ft Mendota Office Center Portfolio - Mendota Heights, MN [Member]</label>
    <loc xlink:type="locator" xlink:href="iret-20170430.xsd#iret_RetailSalePortfolioSquareFeetMember" xlink:label="iret_RetailSalePortfolioSquareFeetMember" xmlns="http://www.xbrl.org/2003/linkbase" />
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="iret_RetailSalePortfolioSquareFeetMember" xlink:to="iret_RetailSalePortfolioSquareFeetMember_lbl" xmlns="http://www.xbrl.org/2003/linkbase" />
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="iret_RetailSalePortfolioSquareFeetMember_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase">Refers to retail sale portfolio, square feet.</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="iret_RetailSalePortfolioSquareFeetMember_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase">Retail Sale Portfolio Square Feet [Member]</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="iret_RetailSalePortfolioSquareFeetMember_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase">1,027,208 sq ft Retail Sale Portfolio [Member]</label>
    <loc xlink:type="locator" xlink:href="iret-20170430.xsd#iret_EdenPrairie6101BlueCircleDriveEdenPrairieMNSquareFeetMember" xlink:label="iret_EdenPrairie6101BlueCircleDriveEdenPrairieMNSquareFeetMember" xmlns="http://www.xbrl.org/2003/linkbase" />
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="iret_EdenPrairie6101BlueCircleDriveEdenPrairieMNSquareFeetMember" xlink:to="iret_EdenPrairie6101BlueCircleDriveEdenPrairieMNSquareFeetMember_lbl" xmlns="http://www.xbrl.org/2003/linkbase" />
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="iret_EdenPrairie6101BlueCircleDriveEdenPrairieMNSquareFeetMember_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase">Refers to Eden Prairie 6101 Blue Circle Drive - Eden Prairie, MN, Square feet.</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="iret_EdenPrairie6101BlueCircleDriveEdenPrairieMNSquareFeetMember_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase">Eden Prairie6101 Blue Circle Drive Eden Prairie M N Square Feet [Member]</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="iret_EdenPrairie6101BlueCircleDriveEdenPrairieMNSquareFeetMember_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase">48,700 sq ft Eden Prairie 6101 Blue Circle Drive - Eden Prairie, MN [Member]</label>
    <loc xlink:type="locator" xlink:href="iret-20170430.xsd#iret_St.CloudStudentHousingPortfolioSt.CloudMnMember" xlink:label="iret_St.CloudStudentHousingPortfolioSt.CloudMnMember" xmlns="http://www.xbrl.org/2003/linkbase" />
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="iret_St.CloudStudentHousingPortfolioSt.CloudMnMember" xlink:to="iret_St.CloudStudentHousingPortfolioSt.CloudMnMember_lbl" xmlns="http://www.xbrl.org/2003/linkbase" />
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="iret_St.CloudStudentHousingPortfolioSt.CloudMnMember_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase">Refers to St. Cloud Student Housing Portfolio.</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="iret_St.CloudStudentHousingPortfolioSt.CloudMnMember_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase">St. Cloud Student Housing Portfolio St. Cloud Mn [Member]</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="iret_St.CloudStudentHousingPortfolioSt.CloudMnMember_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase">391 unit - St. Cloud Student Housing Portfolio - St. Cloud, MN [Member]</label>
    <loc xlink:type="locator" xlink:href="iret-20170430.xsd#iret_NebraskaOrthopaedicHospitalOmahaNeMember" xlink:label="iret_NebraskaOrthopaedicHospitalOmahaNeMember" xmlns="http://www.xbrl.org/2003/linkbase" />
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="iret_NebraskaOrthopaedicHospitalOmahaNeMember" xlink:to="iret_NebraskaOrthopaedicHospitalOmahaNeMember_lbl" xmlns="http://www.xbrl.org/2003/linkbase" />
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="iret_NebraskaOrthopaedicHospitalOmahaNeMember_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase">Refers to Nebraska Orthopedic Hospital.</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="iret_NebraskaOrthopaedicHospitalOmahaNeMember_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase">Nebraska Orthopaedic Hospital Omaha Ne [Member]</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="iret_NebraskaOrthopaedicHospitalOmahaNeMember_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase">61,758 sq ft Nebraska Orthopedic Hospital - Omaha, NE</label>
    <loc xlink:type="locator" xlink:href="iret-20170430.xsd#iret_Burnsville1StripCenterBurnsvilleMnMember" xlink:label="iret_Burnsville1StripCenterBurnsvilleMnMember" xmlns="http://www.xbrl.org/2003/linkbase" />
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="iret_Burnsville1StripCenterBurnsvilleMnMember" xlink:to="iret_Burnsville1StripCenterBurnsvilleMnMember_lbl" xmlns="http://www.xbrl.org/2003/linkbase" />
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="iret_Burnsville1StripCenterBurnsvilleMnMember_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase">Burnsville 1 Strip Center - Burnsville, MN for development, expansion and renovation projects underway or recently completed.</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="iret_Burnsville1StripCenterBurnsvilleMnMember_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase">Burnsville1 Strip Center Burnsville Mn [Member]</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="iret_Burnsville1StripCenterBurnsvilleMnMember_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase">Burnsville 1 Strip Center - Burnsville, MN [Member]</label>
    <loc xlink:type="locator" xlink:href="iret-20170430.xsd#iret_PineCityCStorePineCityMnMember" xlink:label="iret_PineCityCStorePineCityMnMember" xmlns="http://www.xbrl.org/2003/linkbase" />
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="iret_PineCityCStorePineCityMnMember" xlink:to="iret_PineCityCStorePineCityMnMember_lbl" xmlns="http://www.xbrl.org/2003/linkbase" />
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="iret_PineCityCStorePineCityMnMember_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase">Pine City C-Store - Pine City, MN for development, expansion and renovation projects underway or recently completed.</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="iret_PineCityCStorePineCityMnMember_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase">Pine City C Store Pine City Mn [Member]</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="iret_PineCityCStorePineCityMnMember_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase">Pine City C-Store - Pine City, MN [Member]</label>
    <loc xlink:type="locator" xlink:href="iret-20170430.xsd#iret_MinotPlazaMinotNdMember" xlink:label="iret_MinotPlazaMinotNdMember" xmlns="http://www.xbrl.org/2003/linkbase" />
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="iret_MinotPlazaMinotNdMember" xlink:to="iret_MinotPlazaMinotNdMember_lbl" xmlns="http://www.xbrl.org/2003/linkbase" />
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="iret_MinotPlazaMinotNdMember_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase">Minot Plaza - Minot, ND for development, expansion and renovation projects underway or recently completed.</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="iret_MinotPlazaMinotNdMember_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase">Minot Plaza Minot Nd [Member]</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="iret_MinotPlazaMinotNdMember_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase">Minot Plaza - Minot, ND [Member]</label>
    <loc xlink:type="locator" xlink:href="iret-20170430.xsd#iret_NineBuildingOfficePortfolioSquareFeetMember" xlink:label="iret_NineBuildingOfficePortfolioSquareFeetMember" xmlns="http://www.xbrl.org/2003/linkbase" />
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="iret_NineBuildingOfficePortfolioSquareFeetMember" xlink:to="iret_NineBuildingOfficePortfolioSquareFeetMember_lbl" xmlns="http://www.xbrl.org/2003/linkbase" />
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="iret_NineBuildingOfficePortfolioSquareFeetMember_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase">Refers to 9-Building Office Portfolio, Square feet.</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="iret_NineBuildingOfficePortfolioSquareFeetMember_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase">Nine Building Office Portfolio Square Feet [Member]</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="iret_NineBuildingOfficePortfolioSquareFeetMember_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase">937,518 sq ft 9-Building Office Portfolio [Member]</label>
    <loc xlink:type="locator" xlink:href="iret-20170430.xsd#iret_ArrowheadFirstInternationalBankMinotNdMember" xlink:label="iret_ArrowheadFirstInternationalBankMinotNdMember" xmlns="http://www.xbrl.org/2003/linkbase" />
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="iret_ArrowheadFirstInternationalBankMinotNdMember" xlink:to="iret_ArrowheadFirstInternationalBankMinotNdMember_lbl" xmlns="http://www.xbrl.org/2003/linkbase" />
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="iret_ArrowheadFirstInternationalBankMinotNdMember_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase">Arrowhead First International Bank - Minot ND for development, expansion and renovation projects underway or recently completed.</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="iret_ArrowheadFirstInternationalBankMinotNdMember_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase">Arrowhead First International Bank Minot Nd [Member]</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="iret_ArrowheadFirstInternationalBankMinotNdMember_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase">3,702 sq ft Arrowhead First International Bank - Minot, ND</label>
    <loc xlink:type="locator" xlink:href="iret-20170430.xsd#iret_RiverFallsUnimprovedLandRiverFallsWiMember" xlink:label="iret_RiverFallsUnimprovedLandRiverFallsWiMember" xmlns="http://www.xbrl.org/2003/linkbase" />
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="iret_RiverFallsUnimprovedLandRiverFallsWiMember" xlink:to="iret_RiverFallsUnimprovedLandRiverFallsWiMember_lbl" xmlns="http://www.xbrl.org/2003/linkbase" />
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="iret_RiverFallsUnimprovedLandRiverFallsWiMember_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase">River Falls Unimproved Land - River Falls, WI for development, expansion and renovation projects underway or recently completed.</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="iret_RiverFallsUnimprovedLandRiverFallsWiMember_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase">River Falls Unimproved Land River Falls Wi [Member]</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="iret_RiverFallsUnimprovedLandRiverFallsWiMember_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase">River Falls - River Falls, WI [Member]</label>
    <loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2016/elts/us-gaap-2016-01-31.xsd#us-gaap_IncomeStatementBalanceSheetAndAdditionalDisclosuresByDisposalGroupsIncludingDiscontinuedOperationsLineItems" xlink:label="us-gaap_IncomeStatementBalanceSheetAndAdditionalDisclosuresByDisposalGroupsIncludingDiscontinuedOperationsLineItems" xmlns="http://www.xbrl.org/2003/linkbase" />
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_IncomeStatementBalanceSheetAndAdditionalDisclosuresByDisposalGroupsIncludingDiscontinuedOperationsLineItems" xlink:to="us-gaap_IncomeStatementBalanceSheetAndAdditionalDisclosuresByDisposalGroupsIncludingDiscontinuedOperationsLineItems_lbl" xmlns="http://www.xbrl.org/2003/linkbase" />
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_IncomeStatementBalanceSheetAndAdditionalDisclosuresByDisposalGroupsIncludingDiscontinuedOperationsLineItems_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase">Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items]</label>
    <loc xlink:type="locator" xlink:href="iret-20170430.xsd#iret_DisposalsDateOfTransactionForAcquisitionOrDisposal" xlink:label="iret_DisposalsDateOfTransactionForAcquisitionOrDisposal" xmlns="http://www.xbrl.org/2003/linkbase" />
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="iret_DisposalsDateOfTransactionForAcquisitionOrDisposal" xlink:to="iret_DisposalsDateOfTransactionForAcquisitionOrDisposal_lbl" xmlns="http://www.xbrl.org/2003/linkbase" />
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="iret_DisposalsDateOfTransactionForAcquisitionOrDisposal_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase">Date of disposal, in CCYY-MM-DD format.</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="iret_DisposalsDateOfTransactionForAcquisitionOrDisposal_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase">Disposals, Date of Transaction for Acquisition or Disposal</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:label="iret_DisposalsDateOfTransactionForAcquisitionOrDisposal_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase">Date disposed</label>
    <loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2016/elts/us-gaap-2016-01-31.xsd#us-gaap_CostOfRealEstateSales" xlink:label="us-gaap_CostOfRealEstateSales" xmlns="http://www.xbrl.org/2003/linkbase" />
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_CostOfRealEstateSales" xlink:to="us-gaap_CostOfRealEstateSales_lbl" xmlns="http://www.xbrl.org/2003/linkbase" />
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_CostOfRealEstateSales_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase">Book value and sales cost</label>
    <loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2016/elts/us-gaap-2016-01-31.xsd#us-gaap_GainLossOnDispositionOfAssets" xlink:label="us-gaap_GainLossOnDispositionOfAssets" xmlns="http://www.xbrl.org/2003/linkbase" />
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_GainLossOnDispositionOfAssets" xlink:to="us-gaap_GainLossOnDispositionOfAssets_lbl" xmlns="http://www.xbrl.org/2003/linkbase" />
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_GainLossOnDispositionOfAssets_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase">Gain/(Loss)</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/totalLabel" xlink:label="us-gaap_GainLossOnDispositionOfAssets_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase">Gain/(Loss)</label>
    <loc xlink:type="locator" xlink:href="iret-20170430.xsd#iret_NumberOfPropertiesSold" xlink:label="iret_NumberOfPropertiesSold" xmlns="http://www.xbrl.org/2003/linkbase" />
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="iret_NumberOfPropertiesSold" xlink:to="iret_NumberOfPropertiesSold_lbl" xmlns="http://www.xbrl.org/2003/linkbase" />
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="iret_NumberOfPropertiesSold_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase">The number of properties sold during the period.</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="iret_NumberOfPropertiesSold_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase">Number of properties sold</label>
    <loc xlink:type="locator" xlink:href="iret-20170430.xsd#iret_RevenuesNetOfTransferredProperties" xlink:label="iret_RevenuesNetOfTransferredProperties" xmlns="http://www.xbrl.org/2003/linkbase" />
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="iret_RevenuesNetOfTransferredProperties" xlink:to="iret_RevenuesNetOfTransferredProperties_lbl" xmlns="http://www.xbrl.org/2003/linkbase" />
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="iret_RevenuesNetOfTransferredProperties_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase">Amount of revenue recognized from properties sold, net of properties transferred ownership.</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="iret_RevenuesNetOfTransferredProperties_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase">Revenues Net of Transferred Properties</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="iret_RevenuesNetOfTransferredProperties_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase">Sale price, net of properties transferred</label>
    <loc xlink:type="locator" xlink:href="iret-20170430.xsd#iret_NumberOfPropertiesTransferred" xlink:label="iret_NumberOfPropertiesTransferred" xmlns="http://www.xbrl.org/2003/linkbase" />
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="iret_NumberOfPropertiesTransferred" xlink:to="iret_NumberOfPropertiesTransferred_lbl" xmlns="http://www.xbrl.org/2003/linkbase" />
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="iret_NumberOfPropertiesTransferred_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase">Refers of number of properties transferred.</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="iret_NumberOfPropertiesTransferred_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase">Number of Properties Transferred</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="iret_NumberOfPropertiesTransferred_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase">Number of properties transferred</label>
    <loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2016/elts/us-gaap-2016-01-31.xsd#us-gaap_NonRecourseDebt" xlink:label="us-gaap_NonRecourseDebt" xmlns="http://www.xbrl.org/2003/linkbase" />
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_NonRecourseDebt" xlink:to="us-gaap_NonRecourseDebt_lbl" xmlns="http://www.xbrl.org/2003/linkbase" />
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_NonRecourseDebt_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase">Non-Recourse Debt</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="us-gaap_NonRecourseDebt_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase">Non-recourse loan</label>
    <loc xlink:type="locator" xlink:href="iret-20170430.xsd#iret_EstimatedFairValueOfPropertiesTransferred" xlink:label="iret_EstimatedFairValueOfPropertiesTransferred" xmlns="http://www.xbrl.org/2003/linkbase" />
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="iret_EstimatedFairValueOfPropertiesTransferred" xlink:to="iret_EstimatedFairValueOfPropertiesTransferred_lbl" xmlns="http://www.xbrl.org/2003/linkbase" />
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="iret_EstimatedFairValueOfPropertiesTransferred_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase">Refers to estimated fair value of properties transferred to mortgage loans.</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="iret_EstimatedFairValueOfPropertiesTransferred_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase">Estimated Fair Value of Properties Transferred</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="iret_EstimatedFairValueOfPropertiesTransferred_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase">Estimated fair value of properties transferred</label>
    <loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2016/elts/us-gaap-2016-01-31.xsd#us-gaap_ScheduleOfSegmentReportingInformationBySegmentTable" xlink:label="us-gaap_ScheduleOfSegmentReportingInformationBySegmentTable" xmlns="http://www.xbrl.org/2003/linkbase" />
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_ScheduleOfSegmentReportingInformationBySegmentTable" xlink:to="us-gaap_ScheduleOfSegmentReportingInformationBySegmentTable_lbl" xmlns="http://www.xbrl.org/2003/linkbase" />
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_ScheduleOfSegmentReportingInformationBySegmentTable_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase">Schedule of Segment Reporting Information, by Segment [Table]</label>
    <loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2016/elts/us-gaap-2016-01-31.xsd#us-gaap_StatementBusinessSegmentsAxis" xlink:label="us-gaap_StatementBusinessSegmentsAxis" xmlns="http://www.xbrl.org/2003/linkbase" />
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_StatementBusinessSegmentsAxis" xlink:to="us-gaap_StatementBusinessSegmentsAxis_lbl" xmlns="http://www.xbrl.org/2003/linkbase" />
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_StatementBusinessSegmentsAxis_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase">Segments [Axis]</label>
    <loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2016/elts/us-gaap-2016-01-31.xsd#us-gaap_SegmentDomain" xlink:label="us-gaap_SegmentDomain" xmlns="http://www.xbrl.org/2003/linkbase" />
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_SegmentDomain" xlink:to="us-gaap_SegmentDomain_lbl" xmlns="http://www.xbrl.org/2003/linkbase" />
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_SegmentDomain_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase">Segment [Domain]</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="us-gaap_SegmentDomain_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase">Segments [Domain]</label>
    <loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2016/elts/us-gaap-2016-01-31.xsd#us-gaap_AllOtherSegmentsMember" xlink:label="us-gaap_AllOtherSegmentsMember" xmlns="http://www.xbrl.org/2003/linkbase" />
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_AllOtherSegmentsMember" xlink:to="us-gaap_AllOtherSegmentsMember_lbl" xmlns="http://www.xbrl.org/2003/linkbase" />
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_AllOtherSegmentsMember_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase">All Other Segments [Member]</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="us-gaap_AllOtherSegmentsMember_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase">All Other [Member]</label>
    <loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2016/elts/us-gaap-2016-01-31.xsd#us-gaap_ConsolidationItemsAxis" xlink:label="us-gaap_ConsolidationItemsAxis" xmlns="http://www.xbrl.org/2003/linkbase" />
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_ConsolidationItemsAxis" xlink:to="us-gaap_ConsolidationItemsAxis_lbl" xmlns="http://www.xbrl.org/2003/linkbase" />
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_ConsolidationItemsAxis_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase">Consolidation Items [Axis]</label>
    <loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2016/elts/us-gaap-2016-01-31.xsd#us-gaap_ConsolidationItemsDomain" xlink:label="us-gaap_ConsolidationItemsDomain" xmlns="http://www.xbrl.org/2003/linkbase" />
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_ConsolidationItemsDomain" xlink:to="us-gaap_ConsolidationItemsDomain_lbl" xmlns="http://www.xbrl.org/2003/linkbase" />
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_ConsolidationItemsDomain_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase">Consolidation Items [Domain]</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="us-gaap_ConsolidationItemsDomain_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase">Consolidation Items [Domain]</label>
    <loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2016/elts/us-gaap-2016-01-31.xsd#us-gaap_OperatingSegmentsMember" xlink:label="us-gaap_OperatingSegmentsMember" xmlns="http://www.xbrl.org/2003/linkbase" />
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_OperatingSegmentsMember" xlink:to="us-gaap_OperatingSegmentsMember_lbl" xmlns="http://www.xbrl.org/2003/linkbase" />
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_OperatingSegmentsMember_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase">Operating Segments [Member]</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="us-gaap_OperatingSegmentsMember_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase">Operating Segments [Member]</label>
    <loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2016/elts/us-gaap-2016-01-31.xsd#us-gaap_SegmentReportingInformationLineItems" xlink:label="us-gaap_SegmentReportingInformationLineItems" xmlns="http://www.xbrl.org/2003/linkbase" />
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_SegmentReportingInformationLineItems" xlink:to="us-gaap_SegmentReportingInformationLineItems_lbl" xmlns="http://www.xbrl.org/2003/linkbase" />
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_SegmentReportingInformationLineItems_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase">Segment Reporting Information [Line Items]</label>
    <loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2016/elts/us-gaap-2016-01-31.xsd#us-gaap_NumberOfReportableSegments" xlink:label="us-gaap_NumberOfReportableSegments" xmlns="http://www.xbrl.org/2003/linkbase" />
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_NumberOfReportableSegments" xlink:to="us-gaap_NumberOfReportableSegments_lbl" xmlns="http://www.xbrl.org/2003/linkbase" />
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_NumberOfReportableSegments_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase">Number of reportable segments</label>
    <loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2016/elts/us-gaap-2016-01-31.xsd#us-gaap_SegmentReportingInformationProfitLossAbstract" xlink:label="us-gaap_SegmentReportingInformationProfitLossAbstract" xmlns="http://www.xbrl.org/2003/linkbase" />
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_SegmentReportingInformationProfitLossAbstract" xlink:to="us-gaap_SegmentReportingInformationProfitLossAbstract_lbl" xmlns="http://www.xbrl.org/2003/linkbase" />
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_SegmentReportingInformationProfitLossAbstract_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase">Segment revenues and net operating income [Abstract]</label>
    <loc xlink:type="locator" xlink:href="iret-20170430.xsd#iret_RealEstateRevenueNetExcludingTRSHousingRevenue" xlink:label="iret_RealEstateRevenueNetExcludingTRSHousingRevenue" xmlns="http://www.xbrl.org/2003/linkbase" />
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="iret_RealEstateRevenueNetExcludingTRSHousingRevenue" xlink:to="iret_RealEstateRevenueNetExcludingTRSHousingRevenue_lbl" xmlns="http://www.xbrl.org/2003/linkbase" />
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="iret_RealEstateRevenueNetExcludingTRSHousingRevenue_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase">The aggregate revenue from real estate operations excluding TRS housing revenue during the reporting period.</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="iret_RealEstateRevenueNetExcludingTRSHousingRevenue_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase">Real Estate Revenue, Net, Excluding TRS Housing Revenue</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="iret_RealEstateRevenueNetExcludingTRSHousingRevenue_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase">Real estate revenue</label>
    <loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2016/elts/us-gaap-2016-01-31.xsd#us-gaap_CostOfRealEstateRevenue" xlink:label="us-gaap_CostOfRealEstateRevenue" xmlns="http://www.xbrl.org/2003/linkbase" />
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_CostOfRealEstateRevenue" xlink:to="us-gaap_CostOfRealEstateRevenue_lbl" xmlns="http://www.xbrl.org/2003/linkbase" />
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_CostOfRealEstateRevenue_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase">Real estate expenses</label>
    <loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2016/elts/us-gaap-2016-01-31.xsd#us-gaap_IncomeLossBeforeExtraordinaryItemsAndCumulativeEffectOfChangeInAccountingPrinciple" xlink:label="us-gaap_IncomeLossBeforeExtraordinaryItemsAndCumulativeEffectOfChangeInAccountingPrinciple" xmlns="http://www.xbrl.org/2003/linkbase" />
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_IncomeLossBeforeExtraordinaryItemsAndCumulativeEffectOfChangeInAccountingPrinciple" xlink:to="us-gaap_IncomeLossBeforeExtraordinaryItemsAndCumulativeEffectOfChangeInAccountingPrinciple_lbl" xmlns="http://www.xbrl.org/2003/linkbase" />
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_IncomeLossBeforeExtraordinaryItemsAndCumulativeEffectOfChangeInAccountingPrinciple_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase">Income (Loss) from Operations before Extraordinary Items</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/totalLabel" xlink:label="us-gaap_IncomeLossBeforeExtraordinaryItemsAndCumulativeEffectOfChangeInAccountingPrinciple_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase">Net operating income (loss)</label>
    <loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2016/elts/us-gaap-2016-01-31.xsd#us-gaap_OtherRealEstateRevenue" xlink:label="us-gaap_OtherRealEstateRevenue" xmlns="http://www.xbrl.org/2003/linkbase" />
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_OtherRealEstateRevenue" xlink:to="us-gaap_OtherRealEstateRevenue_lbl" xmlns="http://www.xbrl.org/2003/linkbase" />
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_OtherRealEstateRevenue_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase">TRS senior housing revenue</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="us-gaap_OtherRealEstateRevenue_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase">TRS senior housing revenue</label>
    <loc xlink:type="locator" xlink:href="iret-20170430.xsd#iret_DirectCostsofLeasingandOperatingSeniorLivingRealEstateProperty" xlink:label="iret_DirectCostsofLeasingandOperatingSeniorLivingRealEstateProperty" xmlns="http://www.xbrl.org/2003/linkbase" />
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="iret_DirectCostsofLeasingandOperatingSeniorLivingRealEstateProperty" xlink:to="iret_DirectCostsofLeasingandOperatingSeniorLivingRealEstateProperty_lbl" xmlns="http://www.xbrl.org/2003/linkbase" />
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="iret_DirectCostsofLeasingandOperatingSeniorLivingRealEstateProperty_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase">Direct costs associated with leasing operating our senior living real estate portfolio including labor, food, utilities, marketing, management and other direct operating costs.</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="iret_DirectCostsofLeasingandOperatingSeniorLivingRealEstateProperty_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase">TRS senior housing expenses</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2009/role/negatedLabel" xlink:label="iret_DirectCostsofLeasingandOperatingSeniorLivingRealEstateProperty_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase">TRS senior housing expenses</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="iret_DirectCostsofLeasingandOperatingSeniorLivingRealEstateProperty_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase">TRS senior housing expenses</label>
    <loc xlink:type="locator" xlink:href="iret-20170430.xsd#iret_DepreciationAndAmortizationIncludingRelatedToNonRealEstateInvestments" xlink:label="iret_DepreciationAndAmortizationIncludingRelatedToNonRealEstateInvestments" xmlns="http://www.xbrl.org/2003/linkbase" />
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="iret_DepreciationAndAmortizationIncludingRelatedToNonRealEstateInvestments" xlink:to="iret_DepreciationAndAmortizationIncludingRelatedToNonRealEstateInvestments_lbl" xmlns="http://www.xbrl.org/2003/linkbase" />
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="iret_DepreciationAndAmortizationIncludingRelatedToNonRealEstateInvestments_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase">Depreciation and amortization including related to non real estate investments.</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="iret_DepreciationAndAmortizationIncludingRelatedToNonRealEstateInvestments_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase">Depreciation and amortization including related to non real estate investments</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2009/role/negatedLabel" xlink:label="iret_DepreciationAndAmortizationIncludingRelatedToNonRealEstateInvestments_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase">Depreciation/amortization</label>
    <loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2016/elts/us-gaap-2016-01-31.xsd#us-gaap_ImpairmentOfRealEstate" xlink:label="us-gaap_ImpairmentOfRealEstate" xmlns="http://www.xbrl.org/2003/linkbase" />
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_ImpairmentOfRealEstate" xlink:to="us-gaap_ImpairmentOfRealEstate_lbl" xmlns="http://www.xbrl.org/2003/linkbase" />
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_ImpairmentOfRealEstate_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase">Impairment of real estate investments</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2009/role/negatedLabel" xlink:label="us-gaap_ImpairmentOfRealEstate_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase">Impairment of real estate investments</label>
    <loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2016/elts/us-gaap-2016-01-31.xsd#us-gaap_CostOfOtherPropertyOperatingExpense" xlink:label="us-gaap_CostOfOtherPropertyOperatingExpense" xmlns="http://www.xbrl.org/2003/linkbase" />
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_CostOfOtherPropertyOperatingExpense" xlink:to="us-gaap_CostOfOtherPropertyOperatingExpense_lbl" xmlns="http://www.xbrl.org/2003/linkbase" />
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_CostOfOtherPropertyOperatingExpense_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase">Cost of Other Property Operating Expense</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2009/role/negatedLabel" xlink:label="us-gaap_CostOfOtherPropertyOperatingExpense_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase">Acquisition and investment related costs</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="us-gaap_CostOfOtherPropertyOperatingExpense_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase">Other property expenses</label>
    <loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2016/elts/us-gaap-2016-01-31.xsd#us-gaap_InterestAndOtherIncome" xlink:label="us-gaap_InterestAndOtherIncome" xmlns="http://www.xbrl.org/2003/linkbase" />
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_InterestAndOtherIncome" xlink:to="us-gaap_InterestAndOtherIncome_lbl" xmlns="http://www.xbrl.org/2003/linkbase" />
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_InterestAndOtherIncome_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase">Interest and other income</label>
    <loc xlink:type="locator" xlink:href="iret-20170430.xsd#iret_ReceivablesAndOtherAssets" xlink:label="iret_ReceivablesAndOtherAssets" xmlns="http://www.xbrl.org/2003/linkbase" />
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="iret_ReceivablesAndOtherAssets" xlink:to="iret_ReceivablesAndOtherAssets_lbl" xmlns="http://www.xbrl.org/2003/linkbase" />
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="iret_ReceivablesAndOtherAssets_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase">The receivables and other assets as of the balance sheet date.</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="iret_ReceivablesAndOtherAssets_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase">Receivables and other assets</label>
    <loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2016/elts/us-gaap-2016-01-31.xsd#us-gaap_DiscontinuedOperationsDisposedOfBySaleMember" xlink:label="us-gaap_DiscontinuedOperationsDisposedOfBySaleMember" xmlns="http://www.xbrl.org/2003/linkbase" />
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_DiscontinuedOperationsDisposedOfBySaleMember" xlink:to="us-gaap_DiscontinuedOperationsDisposedOfBySaleMember_lbl" xmlns="http://www.xbrl.org/2003/linkbase" />
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_DiscontinuedOperationsDisposedOfBySaleMember_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase">Discontinued Operations Disposed Of By Sale [Member]</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="us-gaap_DiscontinuedOperationsDisposedOfBySaleMember_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase">Discontinued Operations, Disposed of by Sale [Member]</label>
    <loc xlink:type="locator" xlink:href="iret-20170430.xsd#iret_SeniorHousingPropertiesMember" xlink:label="iret_SeniorHousingPropertiesMember" xmlns="http://www.xbrl.org/2003/linkbase" />
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="iret_SeniorHousingPropertiesMember" xlink:to="iret_SeniorHousingPropertiesMember_lbl" xmlns="http://www.xbrl.org/2003/linkbase" />
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="iret_SeniorHousingPropertiesMember_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase">Property that is used for senior housing purpose.</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="iret_SeniorHousingPropertiesMember_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase">Senior Housing Properties [Member]</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="iret_SeniorHousingPropertiesMember_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase">Senior Housing properties [Member]</label>
    <loc xlink:type="locator" xlink:href="iret-20170430.xsd#iret_NumberOfRealEstatePropertiesClassifiedAsDiscontinuedOperations" xlink:label="iret_NumberOfRealEstatePropertiesClassifiedAsDiscontinuedOperations" xmlns="http://www.xbrl.org/2003/linkbase" />
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="iret_NumberOfRealEstatePropertiesClassifiedAsDiscontinuedOperations" xlink:to="iret_NumberOfRealEstatePropertiesClassifiedAsDiscontinuedOperations_lbl" xmlns="http://www.xbrl.org/2003/linkbase" />
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="iret_NumberOfRealEstatePropertiesClassifiedAsDiscontinuedOperations_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase">Number of real estate properties classified as discontinued operations.</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="iret_NumberOfRealEstatePropertiesClassifiedAsDiscontinuedOperations_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase">Number of real estate properties classified as discontinued operations</label>
    <loc xlink:type="locator" xlink:href="iret-20170430.xsd#iret_NumberOfRealEstatePropertiesClassifiedAsHeldForSaleInDiscontinuedOperations" xlink:label="iret_NumberOfRealEstatePropertiesClassifiedAsHeldForSaleInDiscontinuedOperations" xmlns="http://www.xbrl.org/2003/linkbase" />
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="iret_NumberOfRealEstatePropertiesClassifiedAsHeldForSaleInDiscontinuedOperations" xlink:to="iret_NumberOfRealEstatePropertiesClassifiedAsHeldForSaleInDiscontinuedOperations_lbl" xmlns="http://www.xbrl.org/2003/linkbase" />
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="iret_NumberOfRealEstatePropertiesClassifiedAsHeldForSaleInDiscontinuedOperations_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase">Number of real estate properties classified as held for sale in discontinued operations.</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="iret_NumberOfRealEstatePropertiesClassifiedAsHeldForSaleInDiscontinuedOperations_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase">Number of real estate properties classified as held for sale in discontinued operations</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:label="iret_NumberOfRealEstatePropertiesClassifiedAsHeldForSaleInDiscontinuedOperations_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase">Number of properties classified as held for sale</label>
    <loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2016/elts/us-gaap-2016-01-31.xsd#us-gaap_DiscontinuedOperationIncomeLossFromDiscontinuedOperationDuringPhaseOutPeriodNetOfTax" xlink:label="us-gaap_DiscontinuedOperationIncomeLossFromDiscontinuedOperationDuringPhaseOutPeriodNetOfTax" xmlns="http://www.xbrl.org/2003/linkbase" />
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_DiscontinuedOperationIncomeLossFromDiscontinuedOperationDuringPhaseOutPeriodNetOfTax" xlink:to="us-gaap_DiscontinuedOperationIncomeLossFromDiscontinuedOperationDuringPhaseOutPeriodNetOfTax_lbl" xmlns="http://www.xbrl.org/2003/linkbase" />
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_DiscontinuedOperationIncomeLossFromDiscontinuedOperationDuringPhaseOutPeriodNetOfTax_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase">Discontinued Operation, Income (Loss) from Discontinued Operation During Phase-out Period, Net of Tax</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/totalLabel" xlink:label="us-gaap_DiscontinuedOperationIncomeLossFromDiscontinuedOperationDuringPhaseOutPeriodNetOfTax_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase">Income from discontinued operations before gain on sale</label>
    <loc xlink:type="locator" xlink:href="iret-20170430.xsd#iret_DefaultInterest" xlink:label="iret_DefaultInterest" xmlns="http://www.xbrl.org/2003/linkbase" />
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="iret_DefaultInterest" xlink:to="iret_DefaultInterest_lbl" xmlns="http://www.xbrl.org/2003/linkbase" />
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="iret_DefaultInterest_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase">Interest expense on defaulted loans during the period.</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="iret_DefaultInterest_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase">Default Interest</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="iret_DefaultInterest_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase">Default interest</label>
    <loc xlink:type="locator" xlink:href="iret-20170430.xsd#iret_GainsLossesOnExtinguishmentOfDebtFromTransferOfOwnership" xlink:label="iret_GainsLossesOnExtinguishmentOfDebtFromTransferOfOwnership" xmlns="http://www.xbrl.org/2003/linkbase" />
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="iret_GainsLossesOnExtinguishmentOfDebtFromTransferOfOwnership" xlink:to="iret_GainsLossesOnExtinguishmentOfDebtFromTransferOfOwnership_lbl" xmlns="http://www.xbrl.org/2003/linkbase" />
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="iret_GainsLossesOnExtinguishmentOfDebtFromTransferOfOwnership_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase">Difference between the fair value of payments made and the carrying amount of debt which is extinguished prior to maturity from the transfer of ownership to the mortgage lender.</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="iret_GainsLossesOnExtinguishmentOfDebtFromTransferOfOwnership_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase">Gains Losses on Extinguishment of Debt from Transfer of Ownership</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="iret_GainsLossesOnExtinguishmentOfDebtFromTransferOfOwnership_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase">Gain on extinguishment of debt from transfer of ownership</label>
    <loc xlink:type="locator" xlink:href="iret-20170430.xsd#iret_NumberOfLoanProperties" xlink:label="iret_NumberOfLoanProperties" xmlns="http://www.xbrl.org/2003/linkbase" />
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="iret_NumberOfLoanProperties" xlink:to="iret_NumberOfLoanProperties_lbl" xmlns="http://www.xbrl.org/2003/linkbase" />
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="iret_NumberOfLoanProperties_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase">Refers to number of real estate properties considered for loan.</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="iret_NumberOfLoanProperties_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase">Number of Loan Properties</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="iret_NumberOfLoanProperties_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase">Number of loan properties</label>
    <loc xlink:type="locator" xlink:href="iret-20170430.xsd#iret_DiscontinuedOperationsPropertySaleDataAbstract" xlink:label="iret_DiscontinuedOperationsPropertySaleDataAbstract" xmlns="http://www.xbrl.org/2003/linkbase" />
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="iret_DiscontinuedOperationsPropertySaleDataAbstract" xlink:to="iret_DiscontinuedOperationsPropertySaleDataAbstract_lbl" xmlns="http://www.xbrl.org/2003/linkbase" />
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="iret_DiscontinuedOperationsPropertySaleDataAbstract_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase">Discontinued operations, Property Sale Data [Abstract]</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:label="iret_DiscontinuedOperationsPropertySaleDataAbstract_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase">Property Sale Data</label>
    <loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2016/elts/us-gaap-2016-01-31.xsd#us-gaap_DisposalGroupIncludingDiscontinuedOperationRevenue" xlink:label="us-gaap_DisposalGroupIncludingDiscontinuedOperationRevenue" xmlns="http://www.xbrl.org/2003/linkbase" />
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_DisposalGroupIncludingDiscontinuedOperationRevenue" xlink:to="us-gaap_DisposalGroupIncludingDiscontinuedOperationRevenue_lbl" xmlns="http://www.xbrl.org/2003/linkbase" />
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_DisposalGroupIncludingDiscontinuedOperationRevenue_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase">Disposal Group, Including Discontinued Operation, Revenue</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="us-gaap_DisposalGroupIncludingDiscontinuedOperationRevenue_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase">Sales price</label>
    <loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2016/elts/us-gaap-2016-01-31.xsd#us-gaap_DisposalGroupIncludingDiscontinuedOperationCostsOfGoodsSold" xlink:label="us-gaap_DisposalGroupIncludingDiscontinuedOperationCostsOfGoodsSold" xmlns="http://www.xbrl.org/2003/linkbase" />
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_DisposalGroupIncludingDiscontinuedOperationCostsOfGoodsSold" xlink:to="us-gaap_DisposalGroupIncludingDiscontinuedOperationCostsOfGoodsSold_lbl" xmlns="http://www.xbrl.org/2003/linkbase" />
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_DisposalGroupIncludingDiscontinuedOperationCostsOfGoodsSold_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase">Disposal Group, Including Discontinued Operation, Costs of Goods Sold</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2009/role/negatedLabel" xlink:label="us-gaap_DisposalGroupIncludingDiscontinuedOperationCostsOfGoodsSold_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase">Net book value and sales costs</label>
    <loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2016/elts/us-gaap-2016-01-31.xsd#us-gaap_DisposalGroupIncludingDiscontinuedOperationClassifiedBalanceSheetDisclosuresAbstract" xlink:label="us-gaap_DisposalGroupIncludingDiscontinuedOperationClassifiedBalanceSheetDisclosuresAbstract" xmlns="http://www.xbrl.org/2003/linkbase" />
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_DisposalGroupIncludingDiscontinuedOperationClassifiedBalanceSheetDisclosuresAbstract" xlink:to="us-gaap_DisposalGroupIncludingDiscontinuedOperationClassifiedBalanceSheetDisclosuresAbstract_lbl" xmlns="http://www.xbrl.org/2003/linkbase" />
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_DisposalGroupIncludingDiscontinuedOperationClassifiedBalanceSheetDisclosuresAbstract_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase">Disposal Group, Including Discontinued Operation, Classified Balance Sheet Disclosures [Abstract]</label>
    <loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2016/elts/us-gaap-2016-01-31.xsd#us-gaap_AssetsOfDisposalGroupIncludingDiscontinuedOperationAbstract" xlink:label="us-gaap_AssetsOfDisposalGroupIncludingDiscontinuedOperationAbstract" xmlns="http://www.xbrl.org/2003/linkbase" />
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_AssetsOfDisposalGroupIncludingDiscontinuedOperationAbstract" xlink:to="us-gaap_AssetsOfDisposalGroupIncludingDiscontinuedOperationAbstract_lbl" xmlns="http://www.xbrl.org/2003/linkbase" />
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_AssetsOfDisposalGroupIncludingDiscontinuedOperationAbstract_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase">Disposal Group, Including Discontinued Operation, Assets [Abstract]</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="us-gaap_AssetsOfDisposalGroupIncludingDiscontinuedOperationAbstract_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase">Carrying amounts of major classes of assets included as part of discontinued operations [Abstract]</label>
    <loc xlink:type="locator" xlink:href="iret-20170430.xsd#iret_DisposalGroupIncludingDiscontinuedOperationPropertyOwnedAndIntangibleAssetsNetOfAccumulatedDepreciationAndAmortization" xlink:label="iret_DisposalGroupIncludingDiscontinuedOperationPropertyOwnedAndIntangibleAssetsNetOfAccumulatedDepreciationAndAmortization" xmlns="http://www.xbrl.org/2003/linkbase" />
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="iret_DisposalGroupIncludingDiscontinuedOperationPropertyOwnedAndIntangibleAssetsNetOfAccumulatedDepreciationAndAmortization" xlink:to="iret_DisposalGroupIncludingDiscontinuedOperationPropertyOwnedAndIntangibleAssetsNetOfAccumulatedDepreciationAndAmortization_lbl" xmlns="http://www.xbrl.org/2003/linkbase" />
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="iret_DisposalGroupIncludingDiscontinuedOperationPropertyOwnedAndIntangibleAssetsNetOfAccumulatedDepreciationAndAmortization_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase">Amount classified as property owned and intangible assets, net of accumulated depreciation and amortization attributable to disposal group held for sale or disposed of expected to be disposed of after one year or the normal operating cycle, if longer.</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="iret_DisposalGroupIncludingDiscontinuedOperationPropertyOwnedAndIntangibleAssetsNetOfAccumulatedDepreciationAndAmortization_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase">Disposal Group Including Discontinued Operation Property Owned And Intangible Assets Net Of Accumulated Depreciation And Amortization</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="iret_DisposalGroupIncludingDiscontinuedOperationPropertyOwnedAndIntangibleAssetsNetOfAccumulatedDepreciationAndAmortization_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase">Property owned and intangible assets, net of accumulated depreciation and amortization</label>
    <loc xlink:type="locator" xlink:href="iret-20170430.xsd#iret_DisposalGroupIncludingDiscontinuedOperationRentReceivable" xlink:label="iret_DisposalGroupIncludingDiscontinuedOperationRentReceivable" xmlns="http://www.xbrl.org/2003/linkbase" />
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="iret_DisposalGroupIncludingDiscontinuedOperationRentReceivable" xlink:to="iret_DisposalGroupIncludingDiscontinuedOperationRentReceivable_lbl" xmlns="http://www.xbrl.org/2003/linkbase" />
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="iret_DisposalGroupIncludingDiscontinuedOperationRentReceivable_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase">Amount classified as rent receivable which is arising from straight line of rent attributable to disposal group held for sale or disposed of, expected to be disposed of after one year or the normal operating cycle, if longer.</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="iret_DisposalGroupIncludingDiscontinuedOperationRentReceivable_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase">Disposal Group Including Discontinued Operation Rent Receivable</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="iret_DisposalGroupIncludingDiscontinuedOperationRentReceivable_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase">Receivable arising from straight-lining of rents</label>
    <loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2016/elts/us-gaap-2016-01-31.xsd#us-gaap_DisposalGroupIncludingDiscontinuedOperationAccountsNotesAndLoansReceivableNet" xlink:label="us-gaap_DisposalGroupIncludingDiscontinuedOperationAccountsNotesAndLoansReceivableNet" xmlns="http://www.xbrl.org/2003/linkbase" />
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_DisposalGroupIncludingDiscontinuedOperationAccountsNotesAndLoansReceivableNet" xlink:to="us-gaap_DisposalGroupIncludingDiscontinuedOperationAccountsNotesAndLoansReceivableNet_lbl" xmlns="http://www.xbrl.org/2003/linkbase" />
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_DisposalGroupIncludingDiscontinuedOperationAccountsNotesAndLoansReceivableNet_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase">Disposal Group, Including Discontinued Operation, Accounts, Notes and Loans Receivable, Net</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="us-gaap_DisposalGroupIncludingDiscontinuedOperationAccountsNotesAndLoansReceivableNet_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase">Accounts receivable</label>
    <loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2016/elts/us-gaap-2016-01-31.xsd#us-gaap_DisposalGroupIncludingDiscontinuedOperationPrepaidAndOtherAssets" xlink:label="us-gaap_DisposalGroupIncludingDiscontinuedOperationPrepaidAndOtherAssets" xmlns="http://www.xbrl.org/2003/linkbase" />
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_DisposalGroupIncludingDiscontinuedOperationPrepaidAndOtherAssets" xlink:to="us-gaap_DisposalGroupIncludingDiscontinuedOperationPrepaidAndOtherAssets_lbl" xmlns="http://www.xbrl.org/2003/linkbase" />
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_DisposalGroupIncludingDiscontinuedOperationPrepaidAndOtherAssets_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase">Disposal Group, Including Discontinued Operation, Prepaid and Other Assets</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="us-gaap_DisposalGroupIncludingDiscontinuedOperationPrepaidAndOtherAssets_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase">Prepaid and other assets</label>
    <loc xlink:type="locator" xlink:href="iret-20170430.xsd#iret_DisposalGroupIncludingDiscontinuedOperationTaxInsuranceAndOtherEscrow" xlink:label="iret_DisposalGroupIncludingDiscontinuedOperationTaxInsuranceAndOtherEscrow" xmlns="http://www.xbrl.org/2003/linkbase" />
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="iret_DisposalGroupIncludingDiscontinuedOperationTaxInsuranceAndOtherEscrow" xlink:to="iret_DisposalGroupIncludingDiscontinuedOperationTaxInsuranceAndOtherEscrow_lbl" xmlns="http://www.xbrl.org/2003/linkbase" />
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="iret_DisposalGroupIncludingDiscontinuedOperationTaxInsuranceAndOtherEscrow_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase">Amount classified as tax, insurance and other escrow attributable to disposal group held for sale or disposed of.</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="iret_DisposalGroupIncludingDiscontinuedOperationTaxInsuranceAndOtherEscrow_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase">Disposal Group Including Discontinued Operation Tax Insurance And Other Escrow</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="iret_DisposalGroupIncludingDiscontinuedOperationTaxInsuranceAndOtherEscrow_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase">Tax, insurance and other escrow</label>
    <loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2016/elts/us-gaap-2016-01-31.xsd#us-gaap_DisposalGroupIncludingDiscontinuedOperationPropertyPlantAndEquipment" xlink:label="us-gaap_DisposalGroupIncludingDiscontinuedOperationPropertyPlantAndEquipment" xmlns="http://www.xbrl.org/2003/linkbase" />
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_DisposalGroupIncludingDiscontinuedOperationPropertyPlantAndEquipment" xlink:to="us-gaap_DisposalGroupIncludingDiscontinuedOperationPropertyPlantAndEquipment_lbl" xmlns="http://www.xbrl.org/2003/linkbase" />
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_DisposalGroupIncludingDiscontinuedOperationPropertyPlantAndEquipment_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase">Disposal Group, Including Discontinued Operation, Property, Plant and Equipment</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="us-gaap_DisposalGroupIncludingDiscontinuedOperationPropertyPlantAndEquipment_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase">Property and equipment</label>
    <loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2016/elts/us-gaap-2016-01-31.xsd#us-gaap_DisposalGroupIncludingDiscontinuedOperationGoodwill1" xlink:label="us-gaap_DisposalGroupIncludingDiscontinuedOperationGoodwill1" xmlns="http://www.xbrl.org/2003/linkbase" />
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_DisposalGroupIncludingDiscontinuedOperationGoodwill1" xlink:to="us-gaap_DisposalGroupIncludingDiscontinuedOperationGoodwill1_lbl" xmlns="http://www.xbrl.org/2003/linkbase" />
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_DisposalGroupIncludingDiscontinuedOperationGoodwill1_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase">Disposal Group, Including Discontinued Operation, Goodwill</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="us-gaap_DisposalGroupIncludingDiscontinuedOperationGoodwill1_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase">Goodwill</label>
    <loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2016/elts/us-gaap-2016-01-31.xsd#us-gaap_AssetsOfDisposalGroupIncludingDiscontinuedOperation" xlink:label="us-gaap_AssetsOfDisposalGroupIncludingDiscontinuedOperation" xmlns="http://www.xbrl.org/2003/linkbase" />
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_AssetsOfDisposalGroupIncludingDiscontinuedOperation" xlink:to="us-gaap_AssetsOfDisposalGroupIncludingDiscontinuedOperation_lbl" xmlns="http://www.xbrl.org/2003/linkbase" />
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_AssetsOfDisposalGroupIncludingDiscontinuedOperation_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase">Total assets</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/totalLabel" xlink:label="us-gaap_AssetsOfDisposalGroupIncludingDiscontinuedOperation_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase">Total major classes of assets of the discontinued operations</label>
    <loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2016/elts/us-gaap-2016-01-31.xsd#us-gaap_AssetsHeldForSaleNotPartOfDisposalGroup" xlink:label="us-gaap_AssetsHeldForSaleNotPartOfDisposalGroup" xmlns="http://www.xbrl.org/2003/linkbase" />
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_AssetsHeldForSaleNotPartOfDisposalGroup" xlink:to="us-gaap_AssetsHeldForSaleNotPartOfDisposalGroup_lbl" xmlns="http://www.xbrl.org/2003/linkbase" />
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_AssetsHeldForSaleNotPartOfDisposalGroup_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase">Assets Held-for-sale, Not Part of Disposal Group</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="us-gaap_AssetsHeldForSaleNotPartOfDisposalGroup_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase">Other assets included in the disposal group classified as held for sale</label>
    <loc xlink:type="locator" xlink:href="iret-20170430.xsd#iret_AssetsOfDisposalGroupsClassifiedAsHeldForSaleDisposalGroupIncludingDiscontinuedOperation" xlink:label="iret_AssetsOfDisposalGroupsClassifiedAsHeldForSaleDisposalGroupIncludingDiscontinuedOperation" xmlns="http://www.xbrl.org/2003/linkbase" />
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="iret_AssetsOfDisposalGroupsClassifiedAsHeldForSaleDisposalGroupIncludingDiscontinuedOperation" xlink:to="iret_AssetsOfDisposalGroupsClassifiedAsHeldForSaleDisposalGroupIncludingDiscontinuedOperation_lbl" xmlns="http://www.xbrl.org/2003/linkbase" />
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="iret_AssetsOfDisposalGroupsClassifiedAsHeldForSaleDisposalGroupIncludingDiscontinuedOperation_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase">Amount classified as total assets of the disposal groups classified as held for sale on the balance sheet to disposal group held for sale or disposed of.</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="iret_AssetsOfDisposalGroupsClassifiedAsHeldForSaleDisposalGroupIncludingDiscontinuedOperation_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase">Assets Of The Disposal Groups Classified As Held For Sale Disposal Group Including Discontinued Operation</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/totalLabel" xlink:label="iret_AssetsOfDisposalGroupsClassifiedAsHeldForSaleDisposalGroupIncludingDiscontinuedOperation_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase">Total assets of the disposal groups classified as held for sale on the balance sheet</label>
    <loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2016/elts/us-gaap-2016-01-31.xsd#us-gaap_LiabilitiesOfDisposalGroupIncludingDiscontinuedOperationAbstract" xlink:label="us-gaap_LiabilitiesOfDisposalGroupIncludingDiscontinuedOperationAbstract" xmlns="http://www.xbrl.org/2003/linkbase" />
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_LiabilitiesOfDisposalGroupIncludingDiscontinuedOperationAbstract" xlink:to="us-gaap_LiabilitiesOfDisposalGroupIncludingDiscontinuedOperationAbstract_lbl" xmlns="http://www.xbrl.org/2003/linkbase" />
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_LiabilitiesOfDisposalGroupIncludingDiscontinuedOperationAbstract_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase">Disposal Group, Including Discontinued Operation, Liabilities [Abstract]</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="us-gaap_LiabilitiesOfDisposalGroupIncludingDiscontinuedOperationAbstract_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase">Carrying amounts of major classes of liabilities included as part of discontinued operations [Abstract]</label>
    <loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2016/elts/us-gaap-2016-01-31.xsd#us-gaap_DisposalGroupIncludingDiscontinuedOperationAccountsPayableAndAccruedLiabilities" xlink:label="us-gaap_DisposalGroupIncludingDiscontinuedOperationAccountsPayableAndAccruedLiabilities" xmlns="http://www.xbrl.org/2003/linkbase" />
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_DisposalGroupIncludingDiscontinuedOperationAccountsPayableAndAccruedLiabilities" xlink:to="us-gaap_DisposalGroupIncludingDiscontinuedOperationAccountsPayableAndAccruedLiabilities_lbl" xmlns="http://www.xbrl.org/2003/linkbase" />
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_DisposalGroupIncludingDiscontinuedOperationAccountsPayableAndAccruedLiabilities_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase">Disposal Group, Including Discontinued Operation, Accounts Payable and Accrued Liabilities</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="us-gaap_DisposalGroupIncludingDiscontinuedOperationAccountsPayableAndAccruedLiabilities_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase">Accounts payable and accrued expenses</label>
    <loc xlink:type="locator" xlink:href="iret-20170430.xsd#iret_DisposalGroupIncludingDiscontinuedOperationMortgagePayable" xlink:label="iret_DisposalGroupIncludingDiscontinuedOperationMortgagePayable" xmlns="http://www.xbrl.org/2003/linkbase" />
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="iret_DisposalGroupIncludingDiscontinuedOperationMortgagePayable" xlink:to="iret_DisposalGroupIncludingDiscontinuedOperationMortgagePayable_lbl" xmlns="http://www.xbrl.org/2003/linkbase" />
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="iret_DisposalGroupIncludingDiscontinuedOperationMortgagePayable_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase">Amount classified as mortgage payable attributable to disposal group held for sale or disposed of.</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="iret_DisposalGroupIncludingDiscontinuedOperationMortgagePayable_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase">Disposal Group Including Discontinued Operation Mortgage Payable</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="iret_DisposalGroupIncludingDiscontinuedOperationMortgagePayable_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase">Mortgages payable</label>
    <loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2016/elts/us-gaap-2016-01-31.xsd#us-gaap_DisposalGroupIncludingDiscontinuedOperationOtherLiabilities" xlink:label="us-gaap_DisposalGroupIncludingDiscontinuedOperationOtherLiabilities" xmlns="http://www.xbrl.org/2003/linkbase" />
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_DisposalGroupIncludingDiscontinuedOperationOtherLiabilities" xlink:to="us-gaap_DisposalGroupIncludingDiscontinuedOperationOtherLiabilities_lbl" xmlns="http://www.xbrl.org/2003/linkbase" />
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_DisposalGroupIncludingDiscontinuedOperationOtherLiabilities_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase">Disposal Group, Including Discontinued Operation, Other Liabilities</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="us-gaap_DisposalGroupIncludingDiscontinuedOperationOtherLiabilities_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase">Other</label>
    <loc xlink:type="locator" xlink:href="iret-20170430.xsd#iret_LiabilitiesOfDisposalGroupsClassifiedAsHeldForSaleDisposalGroupIncludingDiscontinuedOperation" xlink:label="iret_LiabilitiesOfDisposalGroupsClassifiedAsHeldForSaleDisposalGroupIncludingDiscontinuedOperation" xmlns="http://www.xbrl.org/2003/linkbase" />
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="iret_LiabilitiesOfDisposalGroupsClassifiedAsHeldForSaleDisposalGroupIncludingDiscontinuedOperation" xlink:to="iret_LiabilitiesOfDisposalGroupsClassifiedAsHeldForSaleDisposalGroupIncludingDiscontinuedOperation_lbl" xmlns="http://www.xbrl.org/2003/linkbase" />
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="iret_LiabilitiesOfDisposalGroupsClassifiedAsHeldForSaleDisposalGroupIncludingDiscontinuedOperation_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase">Amount classified as total liabilities of the disposal groups classified as held for sale on the balance sheet to disposal group held for sale or disposed of.</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="iret_LiabilitiesOfDisposalGroupsClassifiedAsHeldForSaleDisposalGroupIncludingDiscontinuedOperation_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase">Liabilities Of The Disposal Groups Classified As Held For Sale Disposal Group Including Discontinued Operation</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/totalLabel" xlink:label="iret_LiabilitiesOfDisposalGroupsClassifiedAsHeldForSaleDisposalGroupIncludingDiscontinuedOperation_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase">Total major classes of liabilities of the discontinued operations</label>
    <loc xlink:type="locator" xlink:href="iret-20170430.xsd#iret_LiabilitiesHeldForSaleNotPartOfDisposalGroup" xlink:label="iret_LiabilitiesHeldForSaleNotPartOfDisposalGroup" xmlns="http://www.xbrl.org/2003/linkbase" />
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="iret_LiabilitiesHeldForSaleNotPartOfDisposalGroup" xlink:to="iret_LiabilitiesHeldForSaleNotPartOfDisposalGroup_lbl" xmlns="http://www.xbrl.org/2003/linkbase" />
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="iret_LiabilitiesHeldForSaleNotPartOfDisposalGroup_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase">Amount of liabilities held-for-sale that are not part of a disposal group.</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="iret_LiabilitiesHeldForSaleNotPartOfDisposalGroup_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase">Liabilities Held For Sale Not Part Of Disposal Group</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="iret_LiabilitiesHeldForSaleNotPartOfDisposalGroup_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase">Other liabilities included in the disposal group classified as held for sale</label>
    <loc xlink:type="locator" xlink:href="iret-20170430.xsd#iret_RatioOfUnitsExchangedForShares" xlink:label="iret_RatioOfUnitsExchangedForShares" xmlns="http://www.xbrl.org/2003/linkbase" />
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="iret_RatioOfUnitsExchangedForShares" xlink:to="iret_RatioOfUnitsExchangedForShares_lbl" xmlns="http://www.xbrl.org/2003/linkbase" />
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="iret_RatioOfUnitsExchangedForShares_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase">The description of ratio of units exchanged for shares.</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="iret_RatioOfUnitsExchangedForShares_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase">Ratio of units exchanged for shares</label>
    <loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2016/elts/us-gaap-2016-01-31.xsd#us-gaap_NetIncomeLossAbstract" xlink:label="us-gaap_NetIncomeLossAbstract" xmlns="http://www.xbrl.org/2003/linkbase" />
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_NetIncomeLossAbstract" xlink:to="us-gaap_NetIncomeLossAbstract_lbl" xmlns="http://www.xbrl.org/2003/linkbase" />
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_NetIncomeLossAbstract_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase">NUMERATOR [Abstract]</label>
    <loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2016/elts/us-gaap-2016-01-31.xsd#us-gaap_IncomeLossFromContinuingOperations" xlink:label="us-gaap_IncomeLossFromContinuingOperations" xmlns="http://www.xbrl.org/2003/linkbase" />
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_IncomeLossFromContinuingOperations" xlink:to="us-gaap_IncomeLossFromContinuingOperations_lbl" xmlns="http://www.xbrl.org/2003/linkbase" />
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_IncomeLossFromContinuingOperations_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase">Income from continuing operations - Investors Real Estate Trust</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="us-gaap_IncomeLossFromContinuingOperations_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase">(Loss) income from continuing operations &#x2013; Investors Real Estate Trust</label>
    <loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2016/elts/us-gaap-2016-01-31.xsd#us-gaap_IncomeLossFromDiscontinuedOperationsNetOfTaxAttributableToReportingEntity" xlink:label="us-gaap_IncomeLossFromDiscontinuedOperationsNetOfTaxAttributableToReportingEntity" xmlns="http://www.xbrl.org/2003/linkbase" />
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_IncomeLossFromDiscontinuedOperationsNetOfTaxAttributableToReportingEntity" xlink:to="us-gaap_IncomeLossFromDiscontinuedOperationsNetOfTaxAttributableToReportingEntity_lbl" xmlns="http://www.xbrl.org/2003/linkbase" />
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_IncomeLossFromDiscontinuedOperationsNetOfTaxAttributableToReportingEntity_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase">Income (Loss) from Discontinued Operations, Net of Tax, Attributable to Parent</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="us-gaap_IncomeLossFromDiscontinuedOperationsNetOfTaxAttributableToReportingEntity_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase">Income from discontinued operations - Investors Real Estate Trust</label>
    <loc xlink:type="locator" xlink:href="iret-20170430.xsd#iret_DividendsPreferredStock1" xlink:label="iret_DividendsPreferredStock1" xmlns="http://www.xbrl.org/2003/linkbase" />
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="iret_DividendsPreferredStock1" xlink:to="iret_DividendsPreferredStock1_lbl" xmlns="http://www.xbrl.org/2003/linkbase" />
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="iret_DividendsPreferredStock1_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase">Total equity impact of aggregate cash, stock, and paid-in-kind dividends declared for preferred shareholders during the period.</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="iret_DividendsPreferredStock1_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase">Dividends, Preferred Stock1</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2009/role/negatedLabel" xlink:label="iret_DividendsPreferredStock1_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase">Dividends to preferred shareholders</label>
    <loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2016/elts/us-gaap-2016-01-31.xsd#us-gaap_NetIncomeLossAvailableToCommonStockholdersDiluted" xlink:label="us-gaap_NetIncomeLossAvailableToCommonStockholdersDiluted" xmlns="http://www.xbrl.org/2003/linkbase" />
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_NetIncomeLossAvailableToCommonStockholdersDiluted" xlink:to="us-gaap_NetIncomeLossAvailableToCommonStockholdersDiluted_lbl" xmlns="http://www.xbrl.org/2003/linkbase" />
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_NetIncomeLossAvailableToCommonStockholdersDiluted_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase">Net Income (Loss) Available to Common Stockholders, Diluted</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/totalLabel" xlink:label="us-gaap_NetIncomeLossAvailableToCommonStockholdersDiluted_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase">Numerator for diluted (loss) earnings per share</label>
    <loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2016/elts/us-gaap-2016-01-31.xsd#us-gaap_WeightedAverageNumberOfSharesOutstandingAbstract" xlink:label="us-gaap_WeightedAverageNumberOfSharesOutstandingAbstract" xmlns="http://www.xbrl.org/2003/linkbase" />
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_WeightedAverageNumberOfSharesOutstandingAbstract" xlink:to="us-gaap_WeightedAverageNumberOfSharesOutstandingAbstract_lbl" xmlns="http://www.xbrl.org/2003/linkbase" />
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_WeightedAverageNumberOfSharesOutstandingAbstract_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase">DENOMINATOR [Abstract]</label>
    <loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2016/elts/us-gaap-2016-01-31.xsd#us-gaap_WeightedAverageNumberOfSharesOutstandingBasic" xlink:label="us-gaap_WeightedAverageNumberOfSharesOutstandingBasic" xmlns="http://www.xbrl.org/2003/linkbase" />
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_WeightedAverageNumberOfSharesOutstandingBasic" xlink:to="us-gaap_WeightedAverageNumberOfSharesOutstandingBasic_lbl" xmlns="http://www.xbrl.org/2003/linkbase" />
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_WeightedAverageNumberOfSharesOutstandingBasic_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase">Weighted Average Number of Shares Outstanding, Basic</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:label="us-gaap_WeightedAverageNumberOfSharesOutstandingBasic_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase">Denominator for basic earnings per share weighted average shares (in shares)</label>
    <loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2016/elts/us-gaap-2016-01-31.xsd#us-gaap_WeightedAverageNumberDilutedSharesOutstandingAdjustment" xlink:label="us-gaap_WeightedAverageNumberDilutedSharesOutstandingAdjustment" xmlns="http://www.xbrl.org/2003/linkbase" />
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_WeightedAverageNumberDilutedSharesOutstandingAdjustment" xlink:to="us-gaap_WeightedAverageNumberDilutedSharesOutstandingAdjustment_lbl" xmlns="http://www.xbrl.org/2003/linkbase" />
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_WeightedAverageNumberDilutedSharesOutstandingAdjustment_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase">Weighted Average Number Diluted Shares Outstanding Adjustment</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:label="us-gaap_WeightedAverageNumberDilutedSharesOutstandingAdjustment_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase">Effect of convertible operating partnership units (in shares)</label>
    <loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2016/elts/us-gaap-2016-01-31.xsd#us-gaap_WeightedAverageNumberOfDilutedSharesOutstanding" xlink:label="us-gaap_WeightedAverageNumberOfDilutedSharesOutstanding" xmlns="http://www.xbrl.org/2003/linkbase" />
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_WeightedAverageNumberOfDilutedSharesOutstanding" xlink:to="us-gaap_WeightedAverageNumberOfDilutedSharesOutstanding_lbl" xmlns="http://www.xbrl.org/2003/linkbase" />
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_WeightedAverageNumberOfDilutedSharesOutstanding_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase">Weighted Average Number of Shares Outstanding, Diluted</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/totalLabel" xlink:label="us-gaap_WeightedAverageNumberOfDilutedSharesOutstanding_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase">Denominator for diluted earnings per share (in shares)</label>
    <loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2016/elts/us-gaap-2016-01-31.xsd#us-gaap_DefinedContributionPlanEmployerMatchingContributionPercent" xlink:label="us-gaap_DefinedContributionPlanEmployerMatchingContributionPercent" xmlns="http://www.xbrl.org/2003/linkbase" />
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_DefinedContributionPlanEmployerMatchingContributionPercent" xlink:to="us-gaap_DefinedContributionPlanEmployerMatchingContributionPercent_lbl" xmlns="http://www.xbrl.org/2003/linkbase" />
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_DefinedContributionPlanEmployerMatchingContributionPercent_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase">Maximum contribution each employee, towards 401(k) plan (in hundredths)</label>
    <loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2016/elts/us-gaap-2016-01-31.xsd#us-gaap_DefinedContributionPlanCostRecognized" xlink:label="us-gaap_DefinedContributionPlanCostRecognized" xmlns="http://www.xbrl.org/2003/linkbase" />
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_DefinedContributionPlanCostRecognized" xlink:to="us-gaap_DefinedContributionPlanCostRecognized_lbl" xmlns="http://www.xbrl.org/2003/linkbase" />
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_DefinedContributionPlanCostRecognized_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase">Defined Contribution Plan, Cost Recognized</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:label="us-gaap_DefinedContributionPlanCostRecognized_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase">Employer contribution towards profit sharing plan and 401(k) plan</label>
    <loc xlink:type="locator" xlink:href="iret-20170430.xsd#iret_DefinedContributionPlanEmployerDiscretionaryContributionPercent" xlink:label="iret_DefinedContributionPlanEmployerDiscretionaryContributionPercent" xmlns="http://www.xbrl.org/2003/linkbase" />
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="iret_DefinedContributionPlanEmployerDiscretionaryContributionPercent" xlink:to="iret_DefinedContributionPlanEmployerDiscretionaryContributionPercent_lbl" xmlns="http://www.xbrl.org/2003/linkbase" />
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="iret_DefinedContributionPlanEmployerDiscretionaryContributionPercent_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase">Percentage of discretionary contributions made by an employer to a defined contribution plan.</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="iret_DefinedContributionPlanEmployerDiscretionaryContributionPercent_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase">Defined Contribution Plan Employer Discretionary Contribution Percent</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="iret_DefinedContributionPlanEmployerDiscretionaryContributionPercent_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase">Discretionary employer contribution (as a percent)</label>
    <loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2016/elts/us-gaap-2016-01-31.xsd#us-gaap_CommercialRealEstatePortfolioSegmentMember" xlink:label="us-gaap_CommercialRealEstatePortfolioSegmentMember" xmlns="http://www.xbrl.org/2003/linkbase" />
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_CommercialRealEstatePortfolioSegmentMember" xlink:to="us-gaap_CommercialRealEstatePortfolioSegmentMember_lbl" xmlns="http://www.xbrl.org/2003/linkbase" />
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_CommercialRealEstatePortfolioSegmentMember_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase">Commercial Real Estate Portfolio Segment [Member]</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="us-gaap_CommercialRealEstatePortfolioSegmentMember_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase">Combined Commercial Segments [Member]</label>
    <loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2016/elts/us-gaap-2016-01-31.xsd#us-gaap_PropertySubjectToOrAvailableForOperatingLeaseAxis" xlink:label="us-gaap_PropertySubjectToOrAvailableForOperatingLeaseAxis" xmlns="http://www.xbrl.org/2003/linkbase" />
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_PropertySubjectToOrAvailableForOperatingLeaseAxis" xlink:to="us-gaap_PropertySubjectToOrAvailableForOperatingLeaseAxis_lbl" xmlns="http://www.xbrl.org/2003/linkbase" />
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_PropertySubjectToOrAvailableForOperatingLeaseAxis_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase">Property Subject to or Available for Operating Lease [Axis]</label>
    <loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2016/elts/us-gaap-2016-01-31.xsd#us-gaap_PropertySubjectToOrAvailableForOperatingLeaseDomain" xlink:label="us-gaap_PropertySubjectToOrAvailableForOperatingLeaseDomain" xmlns="http://www.xbrl.org/2003/linkbase" />
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_PropertySubjectToOrAvailableForOperatingLeaseDomain" xlink:to="us-gaap_PropertySubjectToOrAvailableForOperatingLeaseDomain_lbl" xmlns="http://www.xbrl.org/2003/linkbase" />
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_PropertySubjectToOrAvailableForOperatingLeaseDomain_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase">Property Subject To Or Available For Operating Lease [Domain]</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="us-gaap_PropertySubjectToOrAvailableForOperatingLeaseDomain_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase">Property Subject to or Available for Operating Lease [Domain]</label>
    <loc xlink:type="locator" xlink:href="iret-20170430.xsd#iret_SubjectToPurchaseOptionsMember" xlink:label="iret_SubjectToPurchaseOptionsMember" xmlns="http://www.xbrl.org/2003/linkbase" />
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="iret_SubjectToPurchaseOptionsMember" xlink:to="iret_SubjectToPurchaseOptionsMember_lbl" xmlns="http://www.xbrl.org/2003/linkbase" />
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="iret_SubjectToPurchaseOptionsMember_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase">Refers to a property subject to purchase options.</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="iret_SubjectToPurchaseOptionsMember_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase">Subject To Purchase Options [Member]</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="iret_SubjectToPurchaseOptionsMember_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase">Subject to Purchase Options [Member]</label>
    <loc xlink:type="locator" xlink:href="iret-20170430.xsd#iret_SubjectToRestrictionsOnTaxableDispositionsMember" xlink:label="iret_SubjectToRestrictionsOnTaxableDispositionsMember" xmlns="http://www.xbrl.org/2003/linkbase" />
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="iret_SubjectToRestrictionsOnTaxableDispositionsMember" xlink:to="iret_SubjectToRestrictionsOnTaxableDispositionsMember_lbl" xmlns="http://www.xbrl.org/2003/linkbase" />
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="iret_SubjectToRestrictionsOnTaxableDispositionsMember_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase">Refers to a property subject to restrictions on taxable dispositions.</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="iret_SubjectToRestrictionsOnTaxableDispositionsMember_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase">Subject To Restrictions On Taxable Dispositions [Member]</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="iret_SubjectToRestrictionsOnTaxableDispositionsMember_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase">Subject to Restrictions on Taxable Dispositions [Member]</label>
    <loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2016/elts/us-gaap-2016-01-31.xsd#us-gaap_SubsequentEventTypeAxis" xlink:label="us-gaap_SubsequentEventTypeAxis" xmlns="http://www.xbrl.org/2003/linkbase" />
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_SubsequentEventTypeAxis" xlink:to="us-gaap_SubsequentEventTypeAxis_lbl" xmlns="http://www.xbrl.org/2003/linkbase" />
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_SubsequentEventTypeAxis_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase">Subsequent Event Type [Axis]</label>
    <loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2016/elts/us-gaap-2016-01-31.xsd#us-gaap_SubsequentEventTypeDomain" xlink:label="us-gaap_SubsequentEventTypeDomain" xmlns="http://www.xbrl.org/2003/linkbase" />
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_SubsequentEventTypeDomain" xlink:to="us-gaap_SubsequentEventTypeDomain_lbl" xmlns="http://www.xbrl.org/2003/linkbase" />
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_SubsequentEventTypeDomain_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase">Subsequent Event Type [Domain]</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="us-gaap_SubsequentEventTypeDomain_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase">Subsequent Event Type [Domain]</label>
    <loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2016/elts/us-gaap-2016-01-31.xsd#us-gaap_SubsequentEventMember" xlink:label="us-gaap_SubsequentEventMember" xmlns="http://www.xbrl.org/2003/linkbase" />
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_SubsequentEventMember" xlink:to="us-gaap_SubsequentEventMember_lbl" xmlns="http://www.xbrl.org/2003/linkbase" />
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_SubsequentEventMember_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase">Subsequent Event [Member]</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="us-gaap_SubsequentEventMember_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase">Subsequent Event [Member]</label>
    <loc xlink:type="locator" xlink:href="iret-20170430.xsd#iret_NumberOfPropertiesUnderOperatingGroundAndAirRightsLease" xlink:label="iret_NumberOfPropertiesUnderOperatingGroundAndAirRightsLease" xmlns="http://www.xbrl.org/2003/linkbase" />
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="iret_NumberOfPropertiesUnderOperatingGroundAndAirRightsLease" xlink:to="iret_NumberOfPropertiesUnderOperatingGroundAndAirRightsLease_lbl" xmlns="http://www.xbrl.org/2003/linkbase" />
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="iret_NumberOfPropertiesUnderOperatingGroundAndAirRightsLease_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase">The number of properties under operating ground and air rights lease.</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="iret_NumberOfPropertiesUnderOperatingGroundAndAirRightsLease_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase">Number Of Properties Under Operating Ground And Air Rights Lease</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="iret_NumberOfPropertiesUnderOperatingGroundAndAirRightsLease_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase">Number of properties under operating ground and air rights lease</label>
    <loc xlink:type="locator" xlink:href="iret-20170430.xsd#iret_RentPayablePerYearUnderGroundLease" xlink:label="iret_RentPayablePerYearUnderGroundLease" xmlns="http://www.xbrl.org/2003/linkbase" />
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="iret_RentPayablePerYearUnderGroundLease" xlink:to="iret_RentPayablePerYearUnderGroundLease_lbl" xmlns="http://www.xbrl.org/2003/linkbase" />
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="iret_RentPayablePerYearUnderGroundLease_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase">The rent payable per year under ground lease during the period.</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="iret_RentPayablePerYearUnderGroundLease_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase">Rent Payable Per Year Under Ground Lease</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="iret_RentPayablePerYearUnderGroundLease_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase">Rent payable per year under ground lease</label>
    <loc xlink:type="locator" xlink:href="iret-20170430.xsd#iret_RemainingLeaseTermOfProperty" xlink:label="iret_RemainingLeaseTermOfProperty" xmlns="http://www.xbrl.org/2003/linkbase" />
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="iret_RemainingLeaseTermOfProperty" xlink:to="iret_RemainingLeaseTermOfProperty_lbl" xmlns="http://www.xbrl.org/2003/linkbase" />
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="iret_RemainingLeaseTermOfProperty_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase">The remaining lease term of property under an existing joint venture.</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="iret_RemainingLeaseTermOfProperty_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase">Remaining lease term of property</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="iret_RemainingLeaseTermOfProperty_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase">Lease term of property</label>
    <loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2016/elts/us-gaap-2016-01-31.xsd#us-gaap_LeaseExpirationDate1" xlink:label="us-gaap_LeaseExpirationDate1" xmlns="http://www.xbrl.org/2003/linkbase" />
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_LeaseExpirationDate1" xlink:to="us-gaap_LeaseExpirationDate1_lbl" xmlns="http://www.xbrl.org/2003/linkbase" />
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_LeaseExpirationDate1_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase">Lease expiration date</label>
    <loc xlink:type="locator" xlink:href="iret-20170430.xsd#iret_NumberOfRenewalOfLease" xlink:label="iret_NumberOfRenewalOfLease" xmlns="http://www.xbrl.org/2003/linkbase" />
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="iret_NumberOfRenewalOfLease" xlink:to="iret_NumberOfRenewalOfLease_lbl" xmlns="http://www.xbrl.org/2003/linkbase" />
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="iret_NumberOfRenewalOfLease_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase">The number of renewal of lease of property under an existing joint venture.</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="iret_NumberOfRenewalOfLease_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase">Number of renewal of lease</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="iret_NumberOfRenewalOfLease_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase">Number of renewal options</label>
    <loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2016/elts/us-gaap-2016-01-31.xsd#us-gaap_OperatingLeasesFutureMinimumPaymentsDueCurrent" xlink:label="us-gaap_OperatingLeasesFutureMinimumPaymentsDueCurrent" xmlns="http://www.xbrl.org/2003/linkbase" />
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_OperatingLeasesFutureMinimumPaymentsDueCurrent" xlink:to="us-gaap_OperatingLeasesFutureMinimumPaymentsDueCurrent_lbl" xmlns="http://www.xbrl.org/2003/linkbase" />
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_OperatingLeasesFutureMinimumPaymentsDueCurrent_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase">Operating Leases, Future Minimum Payments Due, Next Twelve Months</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="us-gaap_OperatingLeasesFutureMinimumPaymentsDueCurrent_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase">2018</label>
    <loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2016/elts/us-gaap-2016-01-31.xsd#us-gaap_OperatingLeasesFutureMinimumPaymentsDueInTwoYears" xlink:label="us-gaap_OperatingLeasesFutureMinimumPaymentsDueInTwoYears" xmlns="http://www.xbrl.org/2003/linkbase" />
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_OperatingLeasesFutureMinimumPaymentsDueInTwoYears" xlink:to="us-gaap_OperatingLeasesFutureMinimumPaymentsDueInTwoYears_lbl" xmlns="http://www.xbrl.org/2003/linkbase" />
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_OperatingLeasesFutureMinimumPaymentsDueInTwoYears_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase">Operating Leases, Future Minimum Payments, Due in Two Years</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="us-gaap_OperatingLeasesFutureMinimumPaymentsDueInTwoYears_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase">2019</label>
    <loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2016/elts/us-gaap-2016-01-31.xsd#us-gaap_OperatingLeasesFutureMinimumPaymentsDueInThreeYears" xlink:label="us-gaap_OperatingLeasesFutureMinimumPaymentsDueInThreeYears" xmlns="http://www.xbrl.org/2003/linkbase" />
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_OperatingLeasesFutureMinimumPaymentsDueInThreeYears" xlink:to="us-gaap_OperatingLeasesFutureMinimumPaymentsDueInThreeYears_lbl" xmlns="http://www.xbrl.org/2003/linkbase" />
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_OperatingLeasesFutureMinimumPaymentsDueInThreeYears_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase">Operating Leases, Future Minimum Payments, Due in Three Years</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="us-gaap_OperatingLeasesFutureMinimumPaymentsDueInThreeYears_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase">2020</label>
    <loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2016/elts/us-gaap-2016-01-31.xsd#us-gaap_OperatingLeasesFutureMinimumPaymentsDueInFourYears" xlink:label="us-gaap_OperatingLeasesFutureMinimumPaymentsDueInFourYears" xmlns="http://www.xbrl.org/2003/linkbase" />
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_OperatingLeasesFutureMinimumPaymentsDueInFourYears" xlink:to="us-gaap_OperatingLeasesFutureMinimumPaymentsDueInFourYears_lbl" xmlns="http://www.xbrl.org/2003/linkbase" />
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_OperatingLeasesFutureMinimumPaymentsDueInFourYears_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase">Operating Leases, Future Minimum Payments, Due in Four Years</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="us-gaap_OperatingLeasesFutureMinimumPaymentsDueInFourYears_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase">2021</label>
    <loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2016/elts/us-gaap-2016-01-31.xsd#us-gaap_OperatingLeasesFutureMinimumPaymentsDueInFiveYears" xlink:label="us-gaap_OperatingLeasesFutureMinimumPaymentsDueInFiveYears" xmlns="http://www.xbrl.org/2003/linkbase" />
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_OperatingLeasesFutureMinimumPaymentsDueInFiveYears" xlink:to="us-gaap_OperatingLeasesFutureMinimumPaymentsDueInFiveYears_lbl" xmlns="http://www.xbrl.org/2003/linkbase" />
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_OperatingLeasesFutureMinimumPaymentsDueInFiveYears_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase">Operating Leases, Future Minimum Payments, Due in Five Years</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="us-gaap_OperatingLeasesFutureMinimumPaymentsDueInFiveYears_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase">2022</label>
    <loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2016/elts/us-gaap-2016-01-31.xsd#us-gaap_OperatingLeasesFutureMinimumPaymentsDueThereafter" xlink:label="us-gaap_OperatingLeasesFutureMinimumPaymentsDueThereafter" xmlns="http://www.xbrl.org/2003/linkbase" />
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_OperatingLeasesFutureMinimumPaymentsDueThereafter" xlink:to="us-gaap_OperatingLeasesFutureMinimumPaymentsDueThereafter_lbl" xmlns="http://www.xbrl.org/2003/linkbase" />
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_OperatingLeasesFutureMinimumPaymentsDueThereafter_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase">Operating Leases, Future Minimum Payments, Due Thereafter</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="us-gaap_OperatingLeasesFutureMinimumPaymentsDueThereafter_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase">Thereafter</label>
    <loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2016/elts/us-gaap-2016-01-31.xsd#us-gaap_OperatingLeasesFutureMinimumPaymentsDue" xlink:label="us-gaap_OperatingLeasesFutureMinimumPaymentsDue" xmlns="http://www.xbrl.org/2003/linkbase" />
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_OperatingLeasesFutureMinimumPaymentsDue" xlink:to="us-gaap_OperatingLeasesFutureMinimumPaymentsDue_lbl" xmlns="http://www.xbrl.org/2003/linkbase" />
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_OperatingLeasesFutureMinimumPaymentsDue_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase">Operating Leases, Future Minimum Payments Due</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/totalLabel" xlink:label="us-gaap_OperatingLeasesFutureMinimumPaymentsDue_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase">Total</label>
    <loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2016/elts/us-gaap-2016-01-31.xsd#us-gaap_TenantImprovements" xlink:label="us-gaap_TenantImprovements" xmlns="http://www.xbrl.org/2003/linkbase" />
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_TenantImprovements" xlink:to="us-gaap_TenantImprovements_lbl" xmlns="http://www.xbrl.org/2003/linkbase" />
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_TenantImprovements_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase">Tenant improvements</label>
    <loc xlink:type="locator" xlink:href="iret-20170430.xsd#iret_CommitmentPeriodForTenantImprovements" xlink:label="iret_CommitmentPeriodForTenantImprovements" xmlns="http://www.xbrl.org/2003/linkbase" />
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="iret_CommitmentPeriodForTenantImprovements" xlink:to="iret_CommitmentPeriodForTenantImprovements_lbl" xmlns="http://www.xbrl.org/2003/linkbase" />
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="iret_CommitmentPeriodForTenantImprovements_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase">The commitment period related to tenant improvements.</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="iret_CommitmentPeriodForTenantImprovements_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase">Commitment period for tenant improvements</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="iret_CommitmentPeriodForTenantImprovements_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase">Commitment period for tenant improvements</label>
    <loc xlink:type="locator" xlink:href="iret-20170430.xsd#iret_NumberOfRealEstatePropertiesSold" xlink:label="iret_NumberOfRealEstatePropertiesSold" xmlns="http://www.xbrl.org/2003/linkbase" />
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="iret_NumberOfRealEstatePropertiesSold" xlink:to="iret_NumberOfRealEstatePropertiesSold_lbl" xmlns="http://www.xbrl.org/2003/linkbase" />
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="iret_NumberOfRealEstatePropertiesSold_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase">The number of real estate properties sold during the period.</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="iret_NumberOfRealEstatePropertiesSold_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase">Number Of Real Estate Properties Sold</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="iret_NumberOfRealEstatePropertiesSold_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase">Number of real estate properties sold</label>
    <loc xlink:type="locator" xlink:href="iret-20170430.xsd#iret_NumberOfApartmentUnitsSubjectToRestrictionsOnTaxableDispositions" xlink:label="iret_NumberOfApartmentUnitsSubjectToRestrictionsOnTaxableDispositions" xmlns="http://www.xbrl.org/2003/linkbase" />
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="iret_NumberOfApartmentUnitsSubjectToRestrictionsOnTaxableDispositions" xlink:to="iret_NumberOfApartmentUnitsSubjectToRestrictionsOnTaxableDispositions_lbl" xmlns="http://www.xbrl.org/2003/linkbase" />
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="iret_NumberOfApartmentUnitsSubjectToRestrictionsOnTaxableDispositions_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase">The number of apartment units subject to restrictions on taxable dispositions.</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="iret_NumberOfApartmentUnitsSubjectToRestrictionsOnTaxableDispositions_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase">Number of apartment units subject to restrictions on taxable dispositions</label>
    <loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2016/elts/us-gaap-2016-01-31.xsd#us-gaap_RealEstateInvestments" xlink:label="us-gaap_RealEstateInvestments" xmlns="http://www.xbrl.org/2003/linkbase" />
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_RealEstateInvestments" xlink:to="us-gaap_RealEstateInvestments_lbl" xmlns="http://www.xbrl.org/2003/linkbase" />
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_RealEstateInvestments_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase">Real estate investment amount of properties (net of accumulated depreciation)</label>
    <loc xlink:type="locator" xlink:href="iret-20170430.xsd#iret_NumberOfConsecutiveTradingDaysForValuation" xlink:label="iret_NumberOfConsecutiveTradingDaysForValuation" xmlns="http://www.xbrl.org/2003/linkbase" />
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="iret_NumberOfConsecutiveTradingDaysForValuation" xlink:to="iret_NumberOfConsecutiveTradingDaysForValuation_lbl" xmlns="http://www.xbrl.org/2003/linkbase" />
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="iret_NumberOfConsecutiveTradingDaysForValuation_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase">The number of consecutive trading days for valuation.</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="iret_NumberOfConsecutiveTradingDaysForValuation_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase">Number of consecutive trading days for valuation</label>
    <loc xlink:type="locator" xlink:href="iret-20170430.xsd#iret_RedemptionValueOfUpreitUnits" xlink:label="iret_RedemptionValueOfUpreitUnits" xmlns="http://www.xbrl.org/2003/linkbase" />
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="iret_RedemptionValueOfUpreitUnits" xlink:to="iret_RedemptionValueOfUpreitUnits_lbl" xmlns="http://www.xbrl.org/2003/linkbase" />
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="iret_RedemptionValueOfUpreitUnits_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase">The redemption value of UPREIT Units during the period.</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="iret_RedemptionValueOfUpreitUnits_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase">Redemption Value of UPREIT Units</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="iret_RedemptionValueOfUpreitUnits_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase">Aggregate redemption value of Units of operating partnership owned by limited partners</label>
    <loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2016/elts/us-gaap-2016-01-31.xsd#us-gaap_FairValueByBalanceSheetGroupingTable" xlink:label="us-gaap_FairValueByBalanceSheetGroupingTable" xmlns="http://www.xbrl.org/2003/linkbase" />
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_FairValueByBalanceSheetGroupingTable" xlink:to="us-gaap_FairValueByBalanceSheetGroupingTable_lbl" xmlns="http://www.xbrl.org/2003/linkbase" />
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_FairValueByBalanceSheetGroupingTable_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase">Fair Value, by Balance Sheet Grouping [Table]</label>
    <loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2016/elts/us-gaap-2016-01-31.xsd#us-gaap_FairValueByMeasurementFrequencyAxis" xlink:label="us-gaap_FairValueByMeasurementFrequencyAxis" xmlns="http://www.xbrl.org/2003/linkbase" />
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_FairValueByMeasurementFrequencyAxis" xlink:to="us-gaap_FairValueByMeasurementFrequencyAxis_lbl" xmlns="http://www.xbrl.org/2003/linkbase" />
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_FairValueByMeasurementFrequencyAxis_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase">Measurement Frequency [Axis]</label>
    <loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2016/elts/us-gaap-2016-01-31.xsd#us-gaap_FairValueMeasurementFrequencyDomain" xlink:label="us-gaap_FairValueMeasurementFrequencyDomain" xmlns="http://www.xbrl.org/2003/linkbase" />
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_FairValueMeasurementFrequencyDomain" xlink:to="us-gaap_FairValueMeasurementFrequencyDomain_lbl" xmlns="http://www.xbrl.org/2003/linkbase" />
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_FairValueMeasurementFrequencyDomain_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase">Fair Value Measurement Frequency [Domain]</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="us-gaap_FairValueMeasurementFrequencyDomain_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase">Fair Value, Measurement Frequency [Domain]</label>
    <loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2016/elts/us-gaap-2016-01-31.xsd#us-gaap_FairValueMeasurementsNonrecurringMember" xlink:label="us-gaap_FairValueMeasurementsNonrecurringMember" xmlns="http://www.xbrl.org/2003/linkbase" />
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_FairValueMeasurementsNonrecurringMember" xlink:to="us-gaap_FairValueMeasurementsNonrecurringMember_lbl" xmlns="http://www.xbrl.org/2003/linkbase" />
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_FairValueMeasurementsNonrecurringMember_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase">Fair Value Measurements Nonrecurring [Member]</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="us-gaap_FairValueMeasurementsNonrecurringMember_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase">Nonrecurring [Member]</label>
    <loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2016/elts/us-gaap-2016-01-31.xsd#us-gaap_FairValueByFairValueHierarchyLevelAxis" xlink:label="us-gaap_FairValueByFairValueHierarchyLevelAxis" xmlns="http://www.xbrl.org/2003/linkbase" />
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_FairValueByFairValueHierarchyLevelAxis" xlink:to="us-gaap_FairValueByFairValueHierarchyLevelAxis_lbl" xmlns="http://www.xbrl.org/2003/linkbase" />
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_FairValueByFairValueHierarchyLevelAxis_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase">Fair Value, Hierarchy [Axis]</label>
    <loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2016/elts/us-gaap-2016-01-31.xsd#us-gaap_FairValueMeasurementsFairValueHierarchyDomain" xlink:label="us-gaap_FairValueMeasurementsFairValueHierarchyDomain" xmlns="http://www.xbrl.org/2003/linkbase" />
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_FairValueMeasurementsFairValueHierarchyDomain" xlink:to="us-gaap_FairValueMeasurementsFairValueHierarchyDomain_lbl" xmlns="http://www.xbrl.org/2003/linkbase" />
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_FairValueMeasurementsFairValueHierarchyDomain_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase">Fair Value Measurements Fair Value Hierarchy [Domain]</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="us-gaap_FairValueMeasurementsFairValueHierarchyDomain_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase">Fair Value, Measurements, Fair Value Hierarchy [Domain]</label>
    <loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2016/elts/us-gaap-2016-01-31.xsd#us-gaap_FairValueInputsLevel3Member" xlink:label="us-gaap_FairValueInputsLevel3Member" xmlns="http://www.xbrl.org/2003/linkbase" />
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_FairValueInputsLevel3Member" xlink:to="us-gaap_FairValueInputsLevel3Member_lbl" xmlns="http://www.xbrl.org/2003/linkbase" />
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_FairValueInputsLevel3Member_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase">Fair Value Inputs Level3 [Member]</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="us-gaap_FairValueInputsLevel3Member_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase">Level 3 [Member]</label>
    <loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2016/elts/us-gaap-2016-01-31.xsd#us-gaap_FairValueByMeasurementBasisAxis" xlink:label="us-gaap_FairValueByMeasurementBasisAxis" xmlns="http://www.xbrl.org/2003/linkbase" />
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_FairValueByMeasurementBasisAxis" xlink:to="us-gaap_FairValueByMeasurementBasisAxis_lbl" xmlns="http://www.xbrl.org/2003/linkbase" />
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_FairValueByMeasurementBasisAxis_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase">Fair Value, by Balance Sheet Grouping, Disclosure Item Amounts [Axis]</label>
    <loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2016/elts/us-gaap-2016-01-31.xsd#us-gaap_PortionAtFairValueFairValueDisclosureMember" xlink:label="us-gaap_PortionAtFairValueFairValueDisclosureMember" xmlns="http://www.xbrl.org/2003/linkbase" />
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_PortionAtFairValueFairValueDisclosureMember" xlink:to="us-gaap_PortionAtFairValueFairValueDisclosureMember_lbl" xmlns="http://www.xbrl.org/2003/linkbase" />
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_PortionAtFairValueFairValueDisclosureMember_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase">Portion At Fair Value Fair Value Disclosure [Member]</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="us-gaap_PortionAtFairValueFairValueDisclosureMember_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase">Portion at Fair Value Measurement [Member]</label>
    <loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2016/elts/us-gaap-2016-01-31.xsd#us-gaap_CarryingReportedAmountFairValueDisclosureMember" xlink:label="us-gaap_CarryingReportedAmountFairValueDisclosureMember" xmlns="http://www.xbrl.org/2003/linkbase" />
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_CarryingReportedAmountFairValueDisclosureMember" xlink:to="us-gaap_CarryingReportedAmountFairValueDisclosureMember_lbl" xmlns="http://www.xbrl.org/2003/linkbase" />
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_CarryingReportedAmountFairValueDisclosureMember_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase">Carrying Reported Amount Fair Value Disclosure [Member]</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="us-gaap_CarryingReportedAmountFairValueDisclosureMember_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase">Carrying Amount [Member]</label>
    <loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2016/elts/us-gaap-2016-01-31.xsd#us-gaap_EstimateOfFairValueFairValueDisclosureMember" xlink:label="us-gaap_EstimateOfFairValueFairValueDisclosureMember" xmlns="http://www.xbrl.org/2003/linkbase" />
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_EstimateOfFairValueFairValueDisclosureMember" xlink:to="us-gaap_EstimateOfFairValueFairValueDisclosureMember_lbl" xmlns="http://www.xbrl.org/2003/linkbase" />
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_EstimateOfFairValueFairValueDisclosureMember_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase">Estimate Of Fair Value Fair Value Disclosure [Member]</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="us-gaap_EstimateOfFairValueFairValueDisclosureMember_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase">Fair Value [Member]</label>
    <loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2016/elts/us-gaap-2016-01-31.xsd#us-gaap_FairValueBalanceSheetGroupingFinancialStatementCaptionsLineItems" xlink:label="us-gaap_FairValueBalanceSheetGroupingFinancialStatementCaptionsLineItems" xmlns="http://www.xbrl.org/2003/linkbase" />
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_FairValueBalanceSheetGroupingFinancialStatementCaptionsLineItems" xlink:to="us-gaap_FairValueBalanceSheetGroupingFinancialStatementCaptionsLineItems_lbl" xmlns="http://www.xbrl.org/2003/linkbase" />
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_FairValueBalanceSheetGroupingFinancialStatementCaptionsLineItems_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase">Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]</label>
    <loc xlink:type="locator" xlink:href="iret-20170430.xsd#iret_FairValueAssetsAndLiabilitiesMeasuredOnNonrecurringBasisAbstract" xlink:label="iret_FairValueAssetsAndLiabilitiesMeasuredOnNonrecurringBasisAbstract" xmlns="http://www.xbrl.org/2003/linkbase" />
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="iret_FairValueAssetsAndLiabilitiesMeasuredOnNonrecurringBasisAbstract" xlink:to="iret_FairValueAssetsAndLiabilitiesMeasuredOnNonrecurringBasisAbstract_lbl" xmlns="http://www.xbrl.org/2003/linkbase" />
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="iret_FairValueAssetsAndLiabilitiesMeasuredOnNonrecurringBasisAbstract_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase">Fair Value, Assets and Liabilities Measured on Nonrecurring Basis [Abstract]</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="iret_FairValueAssetsAndLiabilitiesMeasuredOnNonrecurringBasisAbstract_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase">Fair Value Measurements on a Nonrecurring Basis [Abstract]</label>
    <loc xlink:type="locator" xlink:href="iret-20170430.xsd#iret_IretRealEstateInvestmentFairValueDisclosure" xlink:label="iret_IretRealEstateInvestmentFairValueDisclosure" xmlns="http://www.xbrl.org/2003/linkbase" />
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="iret_IretRealEstateInvestmentFairValueDisclosure" xlink:to="iret_IretRealEstateInvestmentFairValueDisclosure_lbl" xmlns="http://www.xbrl.org/2003/linkbase" />
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="iret_IretRealEstateInvestmentFairValueDisclosure_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase">This element represents the portion of the balance sheet assertion valued at fair value by the entity whether such amount is presented as a separate caption or as a parenthetical disclosure. Additionally, this element may be used in connection with the fair value disclosures required in the footnote disclosures to the financial statements. The element may be used in both the balance sheet and disclosure in the same submission. This item represents loan receivable as presented on the statement of financial position which may include investments in land and buildings, excluding real estate considered to be inventory of the entity.</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="iret_IretRealEstateInvestmentFairValueDisclosure_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase">iret Real Estate Investment Fair Value Disclosure</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="iret_IretRealEstateInvestmentFairValueDisclosure_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase">Real estate investments</label>
    <loc xlink:type="locator" xlink:href="iret-20170430.xsd#iret_RealEstateHeldForSaleFairValueDisclosure" xlink:label="iret_RealEstateHeldForSaleFairValueDisclosure" xmlns="http://www.xbrl.org/2003/linkbase" />
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="iret_RealEstateHeldForSaleFairValueDisclosure" xlink:to="iret_RealEstateHeldForSaleFairValueDisclosure_lbl" xmlns="http://www.xbrl.org/2003/linkbase" />
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="iret_RealEstateHeldForSaleFairValueDisclosure_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase">This element represents the portion of the balance sheet assertion valued at fair value by the entity whether such amount is presented as a separate caption or as a parenthetical disclosure. Additionally, this element may be used in connection with the fair value disclosures required in the footnote disclosures to the financial statements. The element may be used in both the balance sheet and disclosure in the same submission. This item represents loan receivable as presented on the statement of financial position which may include investments in land and buildings held for sale, excluding real estate considered to be inventory of the entity.</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="iret_RealEstateHeldForSaleFairValueDisclosure_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase">Real estate held for sale</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="iret_RealEstateHeldForSaleFairValueDisclosure_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase">Real estate held for sale</label>
    <loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2016/elts/us-gaap-2016-01-31.xsd#us-gaap_FairValueInputsCapRate" xlink:label="us-gaap_FairValueInputsCapRate" xmlns="http://www.xbrl.org/2003/linkbase" />
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_FairValueInputsCapRate" xlink:to="us-gaap_FairValueInputsCapRate_lbl" xmlns="http://www.xbrl.org/2003/linkbase" />
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_FairValueInputsCapRate_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase">Fair Value Inputs, Cap Rate</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:label="us-gaap_FairValueInputsCapRate_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase">Capitalization rate (as a percent)</label>
    <loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2016/elts/us-gaap-2016-01-31.xsd#us-gaap_FinancialInstrumentsFinancialAssetsBalanceSheetGroupingsAbstract" xlink:label="us-gaap_FinancialInstrumentsFinancialAssetsBalanceSheetGroupingsAbstract" xmlns="http://www.xbrl.org/2003/linkbase" />
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_FinancialInstrumentsFinancialAssetsBalanceSheetGroupingsAbstract" xlink:to="us-gaap_FinancialInstrumentsFinancialAssetsBalanceSheetGroupingsAbstract_lbl" xmlns="http://www.xbrl.org/2003/linkbase" />
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_FinancialInstrumentsFinancialAssetsBalanceSheetGroupingsAbstract_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase">FINANCIAL ASSETS [Abstract]</label>
    <loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2016/elts/us-gaap-2016-01-31.xsd#us-gaap_CashAndCashEquivalentsFairValueDisclosure" xlink:label="us-gaap_CashAndCashEquivalentsFairValueDisclosure" xmlns="http://www.xbrl.org/2003/linkbase" />
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_CashAndCashEquivalentsFairValueDisclosure" xlink:to="us-gaap_CashAndCashEquivalentsFairValueDisclosure_lbl" xmlns="http://www.xbrl.org/2003/linkbase" />
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_CashAndCashEquivalentsFairValueDisclosure_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase">Cash and Cash Equivalents, Fair Value Disclosure</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="us-gaap_CashAndCashEquivalentsFairValueDisclosure_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase">Cash and cash equivalents</label>
    <loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2016/elts/us-gaap-2016-01-31.xsd#us-gaap_InvestmentsFairValueDisclosure" xlink:label="us-gaap_InvestmentsFairValueDisclosure" xmlns="http://www.xbrl.org/2003/linkbase" />
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_InvestmentsFairValueDisclosure" xlink:to="us-gaap_InvestmentsFairValueDisclosure_lbl" xmlns="http://www.xbrl.org/2003/linkbase" />
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_InvestmentsFairValueDisclosure_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase">Investments, Fair Value Disclosure</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="us-gaap_InvestmentsFairValueDisclosure_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase">Other investments</label>
    <loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2016/elts/us-gaap-2016-01-31.xsd#us-gaap_FinancialInstrumentsFinancialLiabilitiesBalanceSheetGroupingsAbstract" xlink:label="us-gaap_FinancialInstrumentsFinancialLiabilitiesBalanceSheetGroupingsAbstract" xmlns="http://www.xbrl.org/2003/linkbase" />
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_FinancialInstrumentsFinancialLiabilitiesBalanceSheetGroupingsAbstract" xlink:to="us-gaap_FinancialInstrumentsFinancialLiabilitiesBalanceSheetGroupingsAbstract_lbl" xmlns="http://www.xbrl.org/2003/linkbase" />
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_FinancialInstrumentsFinancialLiabilitiesBalanceSheetGroupingsAbstract_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase">FINANCIAL LIABILITIES [Abstract]</label>
    <loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2016/elts/us-gaap-2016-01-31.xsd#us-gaap_LoansPayableFairValueDisclosure" xlink:label="us-gaap_LoansPayableFairValueDisclosure" xmlns="http://www.xbrl.org/2003/linkbase" />
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_LoansPayableFairValueDisclosure" xlink:to="us-gaap_LoansPayableFairValueDisclosure_lbl" xmlns="http://www.xbrl.org/2003/linkbase" />
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_LoansPayableFairValueDisclosure_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase">Other debt</label>
    <loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2016/elts/us-gaap-2016-01-31.xsd#us-gaap_LinesOfCreditFairValueDisclosure" xlink:label="us-gaap_LinesOfCreditFairValueDisclosure" xmlns="http://www.xbrl.org/2003/linkbase" />
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_LinesOfCreditFairValueDisclosure" xlink:to="us-gaap_LinesOfCreditFairValueDisclosure_lbl" xmlns="http://www.xbrl.org/2003/linkbase" />
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_LinesOfCreditFairValueDisclosure_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase">Lines of Credit, Fair Value Disclosure</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="us-gaap_LinesOfCreditFairValueDisclosure_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase">Lines of credit</label>
    <loc xlink:type="locator" xlink:href="iret-20170430.xsd#iret_MortgagesPayableRelatedToAssetsHeldForSaleFairValueDisclosure" xlink:label="iret_MortgagesPayableRelatedToAssetsHeldForSaleFairValueDisclosure" xmlns="http://www.xbrl.org/2003/linkbase" />
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="iret_MortgagesPayableRelatedToAssetsHeldForSaleFairValueDisclosure" xlink:to="iret_MortgagesPayableRelatedToAssetsHeldForSaleFairValueDisclosure_lbl" xmlns="http://www.xbrl.org/2003/linkbase" />
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="iret_MortgagesPayableRelatedToAssetsHeldForSaleFairValueDisclosure_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase">Fair value portion of mortgages payable related to assets held for sale.</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="iret_MortgagesPayableRelatedToAssetsHeldForSaleFairValueDisclosure_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase">Mortgages Payable Related To Assets Held For Sale Fair Value Disclosure</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="iret_MortgagesPayableRelatedToAssetsHeldForSaleFairValueDisclosure_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase">Mortgages payable related to assets held for sale</label>
    <loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2016/elts/us-gaap-2016-01-31.xsd#us-gaap_ScheduleOfStockByClassTable" xlink:label="us-gaap_ScheduleOfStockByClassTable" xmlns="http://www.xbrl.org/2003/linkbase" />
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_ScheduleOfStockByClassTable" xlink:to="us-gaap_ScheduleOfStockByClassTable_lbl" xmlns="http://www.xbrl.org/2003/linkbase" />
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_ScheduleOfStockByClassTable_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase">Schedule of Stock by Class [Table]</label>
    <loc xlink:type="locator" xlink:href="iret-20170430.xsd#iret_DistributionReinvestmentAndSharePurchasePlanMember" xlink:label="iret_DistributionReinvestmentAndSharePurchasePlanMember" xmlns="http://www.xbrl.org/2003/linkbase" />
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="iret_DistributionReinvestmentAndSharePurchasePlanMember" xlink:to="iret_DistributionReinvestmentAndSharePurchasePlanMember_lbl" xmlns="http://www.xbrl.org/2003/linkbase" />
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="iret_DistributionReinvestmentAndSharePurchasePlanMember_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase">Refers to distribution reinvestment of earnings and Share purchase plan for the employee.</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="iret_DistributionReinvestmentAndSharePurchasePlanMember_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase">Distribution Reinvestment And Share Purchase Plan [Member]</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="iret_DistributionReinvestmentAndSharePurchasePlanMember_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase">Distribution Reinvestment and Share Purchase Plan [Member]</label>
    <loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2016/elts/us-gaap-2016-01-31.xsd#us-gaap_DividendsAxis" xlink:label="us-gaap_DividendsAxis" xmlns="http://www.xbrl.org/2003/linkbase" />
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_DividendsAxis" xlink:to="us-gaap_DividendsAxis_lbl" xmlns="http://www.xbrl.org/2003/linkbase" />
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_DividendsAxis_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase">Dividends [Axis]</label>
    <loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2016/elts/us-gaap-2016-01-31.xsd#us-gaap_DividendsDomain" xlink:label="us-gaap_DividendsDomain" xmlns="http://www.xbrl.org/2003/linkbase" />
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_DividendsDomain" xlink:to="us-gaap_DividendsDomain_lbl" xmlns="http://www.xbrl.org/2003/linkbase" />
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_DividendsDomain_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase">Dividends [Domain]</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="us-gaap_DividendsDomain_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase">Dividends [Domain]</label>
    <loc xlink:type="locator" xlink:href="iret-20170430.xsd#iret_VoluntaryCashContributionsMember" xlink:label="iret_VoluntaryCashContributionsMember" xmlns="http://www.xbrl.org/2003/linkbase" />
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="iret_VoluntaryCashContributionsMember" xlink:to="iret_VoluntaryCashContributionsMember_lbl" xmlns="http://www.xbrl.org/2003/linkbase" />
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="iret_VoluntaryCashContributionsMember_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase">Refers to voluntary cash contributions, of distribution reinvestment and share purchase plan under which shares are issued.</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="iret_VoluntaryCashContributionsMember_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase">Voluntary Cash Contributions [Member]</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="iret_VoluntaryCashContributionsMember_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase">Voluntary cash contributions [Member]</label>
    <loc xlink:type="locator" xlink:href="iret-20170430.xsd#iret_ReinvestedDistributionsMember" xlink:label="iret_ReinvestedDistributionsMember" xmlns="http://www.xbrl.org/2003/linkbase" />
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="iret_ReinvestedDistributionsMember" xlink:to="iret_ReinvestedDistributionsMember_lbl" xmlns="http://www.xbrl.org/2003/linkbase" />
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="iret_ReinvestedDistributionsMember_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase">Refers to reinvested distributions, of distribution reinvestment and share purchase plan under which shares are issued.</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="iret_ReinvestedDistributionsMember_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase">Reinvested Distributions [Member]</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="iret_ReinvestedDistributionsMember_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase">Reinvested distributions [Member]</label>
    <loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2016/elts/us-gaap-2016-01-31.xsd#us-gaap_ClassOfStockLineItems" xlink:label="us-gaap_ClassOfStockLineItems" xmlns="http://www.xbrl.org/2003/linkbase" />
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    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_ClassOfStockLineItems_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase">Class of Stock [Line Items]</label>
    <loc xlink:type="locator" xlink:href="iret-20170430.xsd#iret_DistributionReinvestmentAndSharePurchasePlanAbstract" xlink:label="iret_DistributionReinvestmentAndSharePurchasePlanAbstract" xmlns="http://www.xbrl.org/2003/linkbase" />
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="iret_DistributionReinvestmentAndSharePurchasePlanAbstract" xlink:to="iret_DistributionReinvestmentAndSharePurchasePlanAbstract_lbl" xmlns="http://www.xbrl.org/2003/linkbase" />
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="iret_DistributionReinvestmentAndSharePurchasePlanAbstract_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase">Distribution Reinvestment and Share Purchase Plan [Abstract]</label>
    <loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2016/elts/us-gaap-2016-01-31.xsd#us-gaap_StockIssuedDuringPeriodSharesNewIssues" xlink:label="us-gaap_StockIssuedDuringPeriodSharesNewIssues" xmlns="http://www.xbrl.org/2003/linkbase" />
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_StockIssuedDuringPeriodSharesNewIssues" xlink:to="us-gaap_StockIssuedDuringPeriodSharesNewIssues_lbl" xmlns="http://www.xbrl.org/2003/linkbase" />
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_StockIssuedDuringPeriodSharesNewIssues_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase">Stock Issued During Period, Shares, New Issues</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:label="us-gaap_StockIssuedDuringPeriodSharesNewIssues_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase">Shares issued (in shares)</label>
    <loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2016/elts/us-gaap-2016-01-31.xsd#us-gaap_StockIssuedDuringPeriodValueNewIssues" xlink:label="us-gaap_StockIssuedDuringPeriodValueNewIssues" xmlns="http://www.xbrl.org/2003/linkbase" />
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_StockIssuedDuringPeriodValueNewIssues" xlink:to="us-gaap_StockIssuedDuringPeriodValueNewIssues_lbl" xmlns="http://www.xbrl.org/2003/linkbase" />
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_StockIssuedDuringPeriodValueNewIssues_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase">Shares issued</label>
    <loc xlink:type="locator" xlink:href="iret-20170430.xsd#iret_IretAggregateGrossSalesPriceOfCommonSharesOfBeneficialInterestAllowedToBeSold" xlink:label="iret_IretAggregateGrossSalesPriceOfCommonSharesOfBeneficialInterestAllowedToBeSold" xmlns="http://www.xbrl.org/2003/linkbase" />
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="iret_IretAggregateGrossSalesPriceOfCommonSharesOfBeneficialInterestAllowedToBeSold" xlink:to="iret_IretAggregateGrossSalesPriceOfCommonSharesOfBeneficialInterestAllowedToBeSold_lbl" xmlns="http://www.xbrl.org/2003/linkbase" />
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="iret_IretAggregateGrossSalesPriceOfCommonSharesOfBeneficialInterestAllowedToBeSold_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase">Aggregate gross sales price of common shares of beneficial interest allowed to be sold related to at-the-market equity program.</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="iret_IretAggregateGrossSalesPriceOfCommonSharesOfBeneficialInterestAllowedToBeSold_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase">iret Aggregate Gross Sales Price Of Common Shares Of Beneficial Interest Allowed To Be Sold</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="iret_IretAggregateGrossSalesPriceOfCommonSharesOfBeneficialInterestAllowedToBeSold_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase">Aggregate offering price</label>
    <loc xlink:type="locator" xlink:href="iret-20170430.xsd#iret_ConversionOfUnitsToCommonSharesAbstract" xlink:label="iret_ConversionOfUnitsToCommonSharesAbstract" xmlns="http://www.xbrl.org/2003/linkbase" />
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="iret_ConversionOfUnitsToCommonSharesAbstract" xlink:to="iret_ConversionOfUnitsToCommonSharesAbstract_lbl" xmlns="http://www.xbrl.org/2003/linkbase" />
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="iret_ConversionOfUnitsToCommonSharesAbstract_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase">Conversion of Units to Common Shares. [Abstract]</label>
    <loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2016/elts/us-gaap-2016-01-31.xsd#us-gaap_ConversionOfStockSharesConverted1" xlink:label="us-gaap_ConversionOfStockSharesConverted1" xmlns="http://www.xbrl.org/2003/linkbase" />
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_ConversionOfStockSharesConverted1" xlink:to="us-gaap_ConversionOfStockSharesConverted1_lbl" xmlns="http://www.xbrl.org/2003/linkbase" />
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_ConversionOfStockSharesConverted1_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase">Conversion of Stock, Shares Converted</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="us-gaap_ConversionOfStockSharesConverted1_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase">Units converted to common stock (in shares)</label>
    <loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2016/elts/us-gaap-2016-01-31.xsd#us-gaap_ConversionOfStockAmountConverted1" xlink:label="us-gaap_ConversionOfStockAmountConverted1" xmlns="http://www.xbrl.org/2003/linkbase" />
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_ConversionOfStockAmountConverted1" xlink:to="us-gaap_ConversionOfStockAmountConverted1_lbl" xmlns="http://www.xbrl.org/2003/linkbase" />
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_ConversionOfStockAmountConverted1_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase">Units converted to common stock</label>
    <loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2016/elts/us-gaap-2016-01-31.xsd#us-gaap_ShareBasedArrangementsToObtainGoodsAndServicesAbstract" xlink:label="us-gaap_ShareBasedArrangementsToObtainGoodsAndServicesAbstract" xmlns="http://www.xbrl.org/2003/linkbase" />
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_ShareBasedArrangementsToObtainGoodsAndServicesAbstract" xlink:to="us-gaap_ShareBasedArrangementsToObtainGoodsAndServicesAbstract_lbl" xmlns="http://www.xbrl.org/2003/linkbase" />
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_ShareBasedArrangementsToObtainGoodsAndServicesAbstract_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase">Share-based Arrangements with Employees and Nonemployees [Abstract]</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="us-gaap_ShareBasedArrangementsToObtainGoodsAndServicesAbstract_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase">Equity Awards</label>
    <loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2016/elts/us-gaap-2016-01-31.xsd#us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsGrantsInPeriod" xlink:label="us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsGrantsInPeriod" xmlns="http://www.xbrl.org/2003/linkbase" />
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsGrantsInPeriod" xlink:to="us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsGrantsInPeriod_lbl" xmlns="http://www.xbrl.org/2003/linkbase" />
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsGrantsInPeriod_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase">Granted (in shares)</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsGrantsInPeriod_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase">Issued (in shares)</label>
    <loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2016/elts/us-gaap-2016-01-31.xsd#us-gaap_SharebasedCompensationArrangementBySharebasedPaymentAwardEquityInstrumentsOtherThanOptionsAggregateIntrinsicValueOutstanding" xlink:label="us-gaap_SharebasedCompensationArrangementBySharebasedPaymentAwardEquityInstrumentsOtherThanOptionsAggregateIntrinsicValueOutstanding" xmlns="http://www.xbrl.org/2003/linkbase" />
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_SharebasedCompensationArrangementBySharebasedPaymentAwardEquityInstrumentsOtherThanOptionsAggregateIntrinsicValueOutstanding" xlink:to="us-gaap_SharebasedCompensationArrangementBySharebasedPaymentAwardEquityInstrumentsOtherThanOptionsAggregateIntrinsicValueOutstanding_lbl" xmlns="http://www.xbrl.org/2003/linkbase" />
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_SharebasedCompensationArrangementBySharebasedPaymentAwardEquityInstrumentsOtherThanOptionsAggregateIntrinsicValueOutstanding_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase">Share-based Compensation Arrangement by Share-based Payment Award, Equity Instruments Other than Options, Aggregate Intrinsic Value, Outstanding</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="us-gaap_SharebasedCompensationArrangementBySharebasedPaymentAwardEquityInstrumentsOtherThanOptionsAggregateIntrinsicValueOutstanding_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase">Grant-date value</label>
    <loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2016/elts/us-gaap-2016-01-31.xsd#us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsForfeitedInPeriod" xlink:label="us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsForfeitedInPeriod" xmlns="http://www.xbrl.org/2003/linkbase" />
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsForfeitedInPeriod" xlink:to="us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsForfeitedInPeriod_lbl" xmlns="http://www.xbrl.org/2003/linkbase" />
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsForfeitedInPeriod_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase">Share-based Compensation Arrangement by Share-based Payment Award, Equity Instruments Other than Options, Forfeited in Period</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2009/role/negatedLabel" xlink:label="us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsForfeitedInPeriod_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase">Forfeited (in shares)</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsForfeitedInPeriod_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase">Forfeited (in shares)</label>
    <loc xlink:type="locator" xlink:href="iret-20170430.xsd#iret_ShareRepurchaseProgramAbstract" xlink:label="iret_ShareRepurchaseProgramAbstract" xmlns="http://www.xbrl.org/2003/linkbase" />
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="iret_ShareRepurchaseProgramAbstract" xlink:to="iret_ShareRepurchaseProgramAbstract_lbl" xmlns="http://www.xbrl.org/2003/linkbase" />
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="iret_ShareRepurchaseProgramAbstract_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase">No definition available.</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="iret_ShareRepurchaseProgramAbstract_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase">Share Repurchase Program [Abstract]</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="iret_ShareRepurchaseProgramAbstract_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase">Share Repurchase Program</label>
    <loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2016/elts/us-gaap-2016-01-31.xsd#us-gaap_StockRepurchaseProgramAuthorizedAmount1" xlink:label="us-gaap_StockRepurchaseProgramAuthorizedAmount1" xmlns="http://www.xbrl.org/2003/linkbase" />
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_StockRepurchaseProgramAuthorizedAmount1" xlink:to="us-gaap_StockRepurchaseProgramAuthorizedAmount1_lbl" xmlns="http://www.xbrl.org/2003/linkbase" />
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_StockRepurchaseProgramAuthorizedAmount1_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase">Stock Repurchase Program, Authorized Amount</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:label="us-gaap_StockRepurchaseProgramAuthorizedAmount1_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase">Authorized share repurchase amount</label>
    <loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2016/elts/us-gaap-2016-01-31.xsd#us-gaap_StockRepurchaseProgramPeriodInForce1" xlink:label="us-gaap_StockRepurchaseProgramPeriodInForce1" xmlns="http://www.xbrl.org/2003/linkbase" />
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_StockRepurchaseProgramPeriodInForce1" xlink:to="us-gaap_StockRepurchaseProgramPeriodInForce1_lbl" xmlns="http://www.xbrl.org/2003/linkbase" />
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_StockRepurchaseProgramPeriodInForce1_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase">Stock Repurchase Program, Period in Force</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="us-gaap_StockRepurchaseProgramPeriodInForce1_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase">Repurchase period</label>
    <loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2016/elts/us-gaap-2016-01-31.xsd#us-gaap_StockRepurchasedAndRetiredDuringPeriodShares" xlink:label="us-gaap_StockRepurchasedAndRetiredDuringPeriodShares" xmlns="http://www.xbrl.org/2003/linkbase" />
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_StockRepurchasedAndRetiredDuringPeriodShares" xlink:to="us-gaap_StockRepurchasedAndRetiredDuringPeriodShares_lbl" xmlns="http://www.xbrl.org/2003/linkbase" />
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_StockRepurchasedAndRetiredDuringPeriodShares_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase">Stock Repurchased and Retired During Period, Shares</label>
    <loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2016/elts/us-gaap-2016-01-31.xsd#us-gaap_StockRepurchasedAndRetiredDuringPeriodValue" xlink:label="us-gaap_StockRepurchasedAndRetiredDuringPeriodValue" xmlns="http://www.xbrl.org/2003/linkbase" />
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_StockRepurchasedAndRetiredDuringPeriodValue" xlink:to="us-gaap_StockRepurchasedAndRetiredDuringPeriodValue_lbl" xmlns="http://www.xbrl.org/2003/linkbase" />
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_StockRepurchasedAndRetiredDuringPeriodValue_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase">Stock Repurchased and Retired During Period, Value</label>
    <loc xlink:type="locator" xlink:href="iret-20170430.xsd#iret_CumulativeRedeemablePreferredSharesOfBeneficialInterestAbstract" xlink:label="iret_CumulativeRedeemablePreferredSharesOfBeneficialInterestAbstract" xmlns="http://www.xbrl.org/2003/linkbase" />
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="iret_CumulativeRedeemablePreferredSharesOfBeneficialInterestAbstract" xlink:to="iret_CumulativeRedeemablePreferredSharesOfBeneficialInterestAbstract_lbl" xmlns="http://www.xbrl.org/2003/linkbase" />
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="iret_CumulativeRedeemablePreferredSharesOfBeneficialInterestAbstract_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase">Cumulative Redeemable Preferred Shares of Beneficial Interest [Abstract]</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="iret_CumulativeRedeemablePreferredSharesOfBeneficialInterestAbstract_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase">Cumulative Redeemable Preferred Shares of Beneficial Interest [Abstract]</label>
    <loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2016/elts/us-gaap-2016-01-31.xsd#us-gaap_PreferredStockDividendRatePercentage" xlink:label="us-gaap_PreferredStockDividendRatePercentage" xmlns="http://www.xbrl.org/2003/linkbase" />
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_PreferredStockDividendRatePercentage" xlink:to="us-gaap_PreferredStockDividendRatePercentage_lbl" xmlns="http://www.xbrl.org/2003/linkbase" />
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_PreferredStockDividendRatePercentage_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase">Preferred Stock, Dividend Rate, Percentage</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="us-gaap_PreferredStockDividendRatePercentage_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase">Distribution rate percentage (in hundredths)</label>
    <loc xlink:type="locator" xlink:href="iret-20170430.xsd#iret_SaleOfPreferredStockPricePerShare" xlink:label="iret_SaleOfPreferredStockPricePerShare" xmlns="http://www.xbrl.org/2003/linkbase" />
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="iret_SaleOfPreferredStockPricePerShare" xlink:to="iret_SaleOfPreferredStockPricePerShare_lbl" xmlns="http://www.xbrl.org/2003/linkbase" />
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="iret_SaleOfPreferredStockPricePerShare_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase">Per share amount received by subsidiary or equity investee for each share of preferred stock issued or sold in the stock transaction.</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="iret_SaleOfPreferredStockPricePerShare_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase">Sale of Preferred Stock, Price Per Share</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:label="iret_SaleOfPreferredStockPricePerShare_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase">Sale of stock, price per share (in dollars per share)</label>
    <loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2016/elts/us-gaap-2016-01-31.xsd#us-gaap_ProceedsFromIssuanceOfRedeemablePreferredStock" xlink:label="us-gaap_ProceedsFromIssuanceOfRedeemablePreferredStock" xmlns="http://www.xbrl.org/2003/linkbase" />
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_ProceedsFromIssuanceOfRedeemablePreferredStock" xlink:to="us-gaap_ProceedsFromIssuanceOfRedeemablePreferredStock_lbl" xmlns="http://www.xbrl.org/2003/linkbase" />
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_ProceedsFromIssuanceOfRedeemablePreferredStock_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase">Proceeds from issuance of cumulative redeemable preferred shares</label>
    <loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2016/elts/us-gaap-2016-01-31.xsd#us-gaap_PreferredStockLiquidationPreference" xlink:label="us-gaap_PreferredStockLiquidationPreference" xmlns="http://www.xbrl.org/2003/linkbase" />
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_PreferredStockLiquidationPreference" xlink:to="us-gaap_PreferredStockLiquidationPreference_lbl" xmlns="http://www.xbrl.org/2003/linkbase" />
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_PreferredStockLiquidationPreference_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase">Preferred Stock, Liquidation Preference Per Share</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="us-gaap_PreferredStockLiquidationPreference_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase">Preferred shares liquidation (in dollars per share)</label>
    <loc xlink:type="locator" xlink:href="iret-20170430.xsd#iret_PreferredStockLiquidationPreferencePerSharePerAnnum" xlink:label="iret_PreferredStockLiquidationPreferencePerSharePerAnnum" xmlns="http://www.xbrl.org/2003/linkbase" />
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="iret_PreferredStockLiquidationPreferencePerSharePerAnnum" xlink:to="iret_PreferredStockLiquidationPreferencePerSharePerAnnum_lbl" xmlns="http://www.xbrl.org/2003/linkbase" />
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="iret_PreferredStockLiquidationPreferencePerSharePerAnnum_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase">The per share liquidation preference (or restrictions) of nonredeemable preferred stock (or preferred stock redeemable solely at the option of the issuer) that has a preference in involuntary liquidation considerably in excess of the par or stated value of the shares per annum. The liquidation preference is the difference between the preference in liquidation and the par or stated values of the share per annum.</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="iret_PreferredStockLiquidationPreferencePerSharePerAnnum_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase">Preferred Stock, Liquidation Preference Per Share per annum</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="iret_PreferredStockLiquidationPreferencePerSharePerAnnum_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase">Preferred shares liquidation per annum (in dollars per share)</label>
    <loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2016/elts/us-gaap-2016-01-31.xsd#us-gaap_PreferredStockRedemptionAmount" xlink:label="us-gaap_PreferredStockRedemptionAmount" xmlns="http://www.xbrl.org/2003/linkbase" />
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_PreferredStockRedemptionAmount" xlink:to="us-gaap_PreferredStockRedemptionAmount_lbl" xmlns="http://www.xbrl.org/2003/linkbase" />
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_PreferredStockRedemptionAmount_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase">Preferred Stock, Redemption Amount</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="us-gaap_PreferredStockRedemptionAmount_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase">Aggregate redemption price</label>
    <loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2016/elts/us-gaap-2016-01-31.xsd#us-gaap_RedeemableNoncontrollingInterestByLegalEntityTable" xlink:label="us-gaap_RedeemableNoncontrollingInterestByLegalEntityTable" xmlns="http://www.xbrl.org/2003/linkbase" />
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_RedeemableNoncontrollingInterestByLegalEntityTable" xlink:to="us-gaap_RedeemableNoncontrollingInterestByLegalEntityTable_lbl" xmlns="http://www.xbrl.org/2003/linkbase" />
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_RedeemableNoncontrollingInterestByLegalEntityTable_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase">Redeemable Noncontrolling Interest, by Legal Entity [Table]</label>
    <loc xlink:type="locator" xlink:href="iret-20170430.xsd#iret_SouthgateMinotNdMember" xlink:label="iret_SouthgateMinotNdMember" xmlns="http://www.xbrl.org/2003/linkbase" />
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="iret_SouthgateMinotNdMember" xlink:to="iret_SouthgateMinotNdMember_lbl" xmlns="http://www.xbrl.org/2003/linkbase" />
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="iret_SouthgateMinotNdMember_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase">Southgate - Minot, ND</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="iret_SouthgateMinotNdMember_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase">Southgate Minot Nd [Member]</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="iret_SouthgateMinotNdMember_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase">Southgate - Minot, ND [Member]</label>
    <loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2016/elts/us-gaap-2016-01-31.xsd#us-gaap_RedeemableNoncontrollingInterestLineItems" xlink:label="us-gaap_RedeemableNoncontrollingInterestLineItems" xmlns="http://www.xbrl.org/2003/linkbase" />
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_RedeemableNoncontrollingInterestLineItems" xlink:to="us-gaap_RedeemableNoncontrollingInterestLineItems_lbl" xmlns="http://www.xbrl.org/2003/linkbase" />
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_RedeemableNoncontrollingInterestLineItems_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase">Redeemable Noncontrolling Interest [Line Items]</label>
    <loc xlink:type="locator" xlink:href="iret-20170430.xsd#iret_NumberOfJointVenturesWithBuySellOptions" xlink:label="iret_NumberOfJointVenturesWithBuySellOptions" xmlns="http://www.xbrl.org/2003/linkbase" />
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="iret_NumberOfJointVenturesWithBuySellOptions" xlink:to="iret_NumberOfJointVenturesWithBuySellOptions_lbl" xmlns="http://www.xbrl.org/2003/linkbase" />
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="iret_NumberOfJointVenturesWithBuySellOptions_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase">The number of joint ventures with a buy/sell option compelling the entity to acquire the interest of the other parties over a specified term.</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="iret_NumberOfJointVenturesWithBuySellOptions_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase">Number of Joint Ventures with Buy Sell Options</label>
    <loc xlink:type="locator" xlink:href="iret-20170430.xsd#iret_CommitmentPeriodForJointVentureAcquisition" xlink:label="iret_CommitmentPeriodForJointVentureAcquisition" xmlns="http://www.xbrl.org/2003/linkbase" />
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="iret_CommitmentPeriodForJointVentureAcquisition" xlink:to="iret_CommitmentPeriodForJointVentureAcquisition_lbl" xmlns="http://www.xbrl.org/2003/linkbase" />
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="iret_CommitmentPeriodForJointVentureAcquisition_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase">The commitment period compelling the entity to acquire the interest of the other parties of the joint venture.</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="iret_CommitmentPeriodForJointVentureAcquisition_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase">Commitment Period for Joint Venture Acquisition</label>
    <loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2016/elts/us-gaap-2016-01-31.xsd#us-gaap_NetIncomeLossAttributableToRedeemableNoncontrollingInterest" xlink:label="us-gaap_NetIncomeLossAttributableToRedeemableNoncontrollingInterest" xmlns="http://www.xbrl.org/2003/linkbase" />
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_NetIncomeLossAttributableToRedeemableNoncontrollingInterest" xlink:to="us-gaap_NetIncomeLossAttributableToRedeemableNoncontrollingInterest_lbl" xmlns="http://www.xbrl.org/2003/linkbase" />
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_NetIncomeLossAttributableToRedeemableNoncontrollingInterest_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase">Net income</label>
    <loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2016/elts/us-gaap-2016-01-31.xsd#us-gaap_ScheduleOfShareBasedCompensationArrangementsByShareBasedPaymentAwardTable" xlink:label="us-gaap_ScheduleOfShareBasedCompensationArrangementsByShareBasedPaymentAwardTable" xmlns="http://www.xbrl.org/2003/linkbase" />
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_ScheduleOfShareBasedCompensationArrangementsByShareBasedPaymentAwardTable" xlink:to="us-gaap_ScheduleOfShareBasedCompensationArrangementsByShareBasedPaymentAwardTable_lbl" xmlns="http://www.xbrl.org/2003/linkbase" />
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_ScheduleOfShareBasedCompensationArrangementsByShareBasedPaymentAwardTable_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase">Schedule of Share-based Compensation Arrangements by Share-based Payment Award [Table]</label>
    <loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2016/elts/us-gaap-2016-01-31.xsd#us-gaap_PlanNameAxis" xlink:label="us-gaap_PlanNameAxis" xmlns="http://www.xbrl.org/2003/linkbase" />
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_PlanNameAxis" xlink:to="us-gaap_PlanNameAxis_lbl" xmlns="http://www.xbrl.org/2003/linkbase" />
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_PlanNameAxis_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase">Plan Name [Axis]</label>
    <loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2016/elts/us-gaap-2016-01-31.xsd#us-gaap_PlanNameDomain" xlink:label="us-gaap_PlanNameDomain" xmlns="http://www.xbrl.org/2003/linkbase" />
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_PlanNameDomain" xlink:to="us-gaap_PlanNameDomain_lbl" xmlns="http://www.xbrl.org/2003/linkbase" />
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_PlanNameDomain_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase">Plan Name [Domain]</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="us-gaap_PlanNameDomain_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase">Plan Name [Domain]</label>
    <loc xlink:type="locator" xlink:href="iret-20170430.xsd#iret_IncentivePlan2015Member" xlink:label="iret_IncentivePlan2015Member" xmlns="http://www.xbrl.org/2003/linkbase" />
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="iret_IncentivePlan2015Member" xlink:to="iret_IncentivePlan2015Member_lbl" xmlns="http://www.xbrl.org/2003/linkbase" />
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="iret_IncentivePlan2015Member_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase">Financial information relating to the 2015 stock based compensation plan, long term incentive plan.</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="iret_IncentivePlan2015Member_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase">Incentive Plan2015 [Member]</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="iret_IncentivePlan2015Member_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase">2015 Incentive Plan [Member]</label>
    <loc xlink:type="locator" xlink:href="iret-20170430.xsd#iret_IncentiveAwardPlanMember" xlink:label="iret_IncentiveAwardPlanMember" xmlns="http://www.xbrl.org/2003/linkbase" />
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="iret_IncentiveAwardPlanMember" xlink:to="iret_IncentiveAwardPlanMember_lbl" xmlns="http://www.xbrl.org/2003/linkbase" />
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="iret_IncentiveAwardPlanMember_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase">Financial information relating to the 2009 stock based compensation plan, long term incentive plan.</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="iret_IncentiveAwardPlanMember_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase">Incentive Award Plan [Member]</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="iret_IncentiveAwardPlanMember_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase">2008 Incentive Award Plan [Member]</label>
    <loc xlink:type="locator" xlink:href="iret-20170430.xsd#iret_TrusteeAwardsMember" xlink:label="iret_TrusteeAwardsMember" xmlns="http://www.xbrl.org/2003/linkbase" />
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="iret_TrusteeAwardsMember" xlink:to="iret_TrusteeAwardsMember_lbl" xmlns="http://www.xbrl.org/2003/linkbase" />
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="iret_TrusteeAwardsMember_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase">The financial information relating to stock based compensation awards for each trustee.</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="iret_TrusteeAwardsMember_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase">Trustee Awards [Member]</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="iret_TrusteeAwardsMember_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase">Trustee Awards [Member]</label>
    <loc xlink:type="locator" xlink:href="iret-20170430.xsd#iret_LongTermIncentivePlan2012Member" xlink:label="iret_LongTermIncentivePlan2012Member" xmlns="http://www.xbrl.org/2003/linkbase" />
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="iret_LongTermIncentivePlan2012Member" xlink:to="iret_LongTermIncentivePlan2012Member_lbl" xmlns="http://www.xbrl.org/2003/linkbase" />
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="iret_LongTermIncentivePlan2012Member_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase">The long term incentive plan for stock based compensation approved in 2012.</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="iret_LongTermIncentivePlan2012Member_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase">Long Term Incentive Plan2012 [Member]</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="iret_LongTermIncentivePlan2012Member_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase">Long Term Incentive Plan [Member]</label>
    <loc xlink:type="locator" xlink:href="iret-20170430.xsd#iret_RestrictedShareAwardsMember" xlink:label="iret_RestrictedShareAwardsMember" xmlns="http://www.xbrl.org/2003/linkbase" />
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="iret_RestrictedShareAwardsMember" xlink:to="iret_RestrictedShareAwardsMember_lbl" xmlns="http://www.xbrl.org/2003/linkbase" />
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="iret_RestrictedShareAwardsMember_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase">Financial information relating to Restricted Share Awards.</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="iret_RestrictedShareAwardsMember_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase">Restricted Share Awards [Member]</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="iret_RestrictedShareAwardsMember_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase">Restricted Share Awards [Member]</label>
    <loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2016/elts/us-gaap-2016-01-31.xsd#us-gaap_AwardDateAxis" xlink:label="us-gaap_AwardDateAxis" xmlns="http://www.xbrl.org/2003/linkbase" />
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_AwardDateAxis" xlink:to="us-gaap_AwardDateAxis_lbl" xmlns="http://www.xbrl.org/2003/linkbase" />
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_AwardDateAxis_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase">Award Date [Axis]</label>
    <loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2016/elts/us-gaap-2016-01-31.xsd#us-gaap_AwardDateDomain" xlink:label="us-gaap_AwardDateDomain" xmlns="http://www.xbrl.org/2003/linkbase" />
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_AwardDateDomain" xlink:to="us-gaap_AwardDateDomain_lbl" xmlns="http://www.xbrl.org/2003/linkbase" />
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_AwardDateDomain_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase">Award Date [Domain]</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="us-gaap_AwardDateDomain_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase">Award Date [Domain]</label>
    <loc xlink:type="locator" xlink:href="iret-20170430.xsd#iret_AwardIn2017Member" xlink:label="iret_AwardIn2017Member" xmlns="http://www.xbrl.org/2003/linkbase" />
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="iret_AwardIn2017Member" xlink:to="iret_AwardIn2017Member_lbl" xmlns="http://www.xbrl.org/2003/linkbase" />
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="iret_AwardIn2017Member_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase">Equity-based compensation granted in 2017.</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="iret_AwardIn2017Member_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase">Award In2017 [Member]</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="iret_AwardIn2017Member_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase">2017 LTIP Awards [Member]</label>
    <loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2016/elts/us-gaap-2016-01-31.xsd#us-gaap_AwardTypeAxis" xlink:label="us-gaap_AwardTypeAxis" xmlns="http://www.xbrl.org/2003/linkbase" />
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_AwardTypeAxis" xlink:to="us-gaap_AwardTypeAxis_lbl" xmlns="http://www.xbrl.org/2003/linkbase" />
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_AwardTypeAxis_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase">Award Type [Axis]</label>
    <loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2016/elts/us-gaap-2016-01-31.xsd#us-gaap_ShareBasedCompensationArrangementsByShareBasedPaymentAwardAwardTypeAndPlanNameDomain" xlink:label="us-gaap_ShareBasedCompensationArrangementsByShareBasedPaymentAwardAwardTypeAndPlanNameDomain" xmlns="http://www.xbrl.org/2003/linkbase" />
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_ShareBasedCompensationArrangementsByShareBasedPaymentAwardAwardTypeAndPlanNameDomain" xlink:to="us-gaap_ShareBasedCompensationArrangementsByShareBasedPaymentAwardAwardTypeAndPlanNameDomain_lbl" xmlns="http://www.xbrl.org/2003/linkbase" />
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_ShareBasedCompensationArrangementsByShareBasedPaymentAwardAwardTypeAndPlanNameDomain_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase">Share Based Compensation Arrangements By Share Based Payment Award Award Type And Plan Name [Domain]</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="us-gaap_ShareBasedCompensationArrangementsByShareBasedPaymentAwardAwardTypeAndPlanNameDomain_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase">Award Type [Domain]</label>
    <loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2016/elts/us-gaap-2016-01-31.xsd#us-gaap_StockCompensationPlanMember" xlink:label="us-gaap_StockCompensationPlanMember" xmlns="http://www.xbrl.org/2003/linkbase" />
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_StockCompensationPlanMember" xlink:to="us-gaap_StockCompensationPlanMember_lbl" xmlns="http://www.xbrl.org/2003/linkbase" />
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_StockCompensationPlanMember_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase">Stock Compensation Plan [Member]</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="us-gaap_StockCompensationPlanMember_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase">Unrestricted Stock [Member]</label>
    <loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2016/elts/us-gaap-2016-01-31.xsd#us-gaap_RestrictedStockMember" xlink:label="us-gaap_RestrictedStockMember" xmlns="http://www.xbrl.org/2003/linkbase" />
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_RestrictedStockMember" xlink:to="us-gaap_RestrictedStockMember_lbl" xmlns="http://www.xbrl.org/2003/linkbase" />
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_RestrictedStockMember_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase">Restricted Stock [Member]</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="us-gaap_RestrictedStockMember_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase">Restricted Stock [Member]</label>
    <loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2016/elts/us-gaap-2016-01-31.xsd#us-gaap_PerformanceSharesMember" xlink:label="us-gaap_PerformanceSharesMember" xmlns="http://www.xbrl.org/2003/linkbase" />
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_PerformanceSharesMember" xlink:to="us-gaap_PerformanceSharesMember_lbl" xmlns="http://www.xbrl.org/2003/linkbase" />
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_PerformanceSharesMember_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase">Performance Shares [Member]</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="us-gaap_PerformanceSharesMember_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase">Performance Shares [Member]</label>
    <loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2016/elts/us-gaap-2016-01-31.xsd#us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardLineItems" xlink:label="us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardLineItems" xmlns="http://www.xbrl.org/2003/linkbase" />
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardLineItems" xlink:to="us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardLineItems_lbl" xmlns="http://www.xbrl.org/2003/linkbase" />
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardLineItems_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase">Share-based Compensation Arrangement by Share-based Payment Award [Line Items]</label>
    <loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2016/elts/us-gaap-2016-01-31.xsd#us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardNumberOfSharesAuthorized" xlink:label="us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardNumberOfSharesAuthorized" xmlns="http://www.xbrl.org/2003/linkbase" />
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardNumberOfSharesAuthorized" xlink:to="us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardNumberOfSharesAuthorized_lbl" xmlns="http://www.xbrl.org/2003/linkbase" />
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardNumberOfSharesAuthorized_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase">Share-based Compensation Arrangement by Share-based Payment Award, Number of Shares Authorized</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardNumberOfSharesAuthorized_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase">Number of shares (in shares)</label>
    <loc xlink:type="locator" xlink:href="iret-20170430.xsd#iret_ShareBasedCompensationArrangementByShareBasedPaymentAwardTermOfAward" xlink:label="iret_ShareBasedCompensationArrangementByShareBasedPaymentAwardTermOfAward" xmlns="http://www.xbrl.org/2003/linkbase" />
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="iret_ShareBasedCompensationArrangementByShareBasedPaymentAwardTermOfAward" xlink:to="iret_ShareBasedCompensationArrangementByShareBasedPaymentAwardTermOfAward_lbl" xmlns="http://www.xbrl.org/2003/linkbase" />
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="iret_ShareBasedCompensationArrangementByShareBasedPaymentAwardTermOfAward_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase">Term of award in which the equity-based award remains in effect, in 'PnYnMnDTnHnMnS' format, for example, 'P1Y5M13D' represents the reported fact of one year, five months, and thirteen days.</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="iret_ShareBasedCompensationArrangementByShareBasedPaymentAwardTermOfAward_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase">Share-based Compensation Arrangement by Share-based Payment Award, Term of Award</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="iret_ShareBasedCompensationArrangementByShareBasedPaymentAwardTermOfAward_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase">Term of award</label>
    <loc xlink:type="locator" xlink:href="iret-20170430.xsd#iret_ShareBasedCompensationArrangementByShareBasedPaymentAwardPerformancePeriod" xlink:label="iret_ShareBasedCompensationArrangementByShareBasedPaymentAwardPerformancePeriod" xmlns="http://www.xbrl.org/2003/linkbase" />
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="iret_ShareBasedCompensationArrangementByShareBasedPaymentAwardPerformancePeriod" xlink:to="iret_ShareBasedCompensationArrangementByShareBasedPaymentAwardPerformancePeriod_lbl" xmlns="http://www.xbrl.org/2003/linkbase" />
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="iret_ShareBasedCompensationArrangementByShareBasedPaymentAwardPerformancePeriod_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase">The period of performance for unrestricted shares to vest , in 'PnYnMnDTnHnMnS' format, for example, 'P1Y5M13D' represents the reported fact of one year, five months, and thirteen days.</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="iret_ShareBasedCompensationArrangementByShareBasedPaymentAwardPerformancePeriod_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase">Share-based Compensation Arrangement by Share-based Payment Award, Performance Period</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="iret_ShareBasedCompensationArrangementByShareBasedPaymentAwardPerformancePeriod_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase">Performance period (in years)</label>
    <loc xlink:type="locator" xlink:href="iret-20170430.xsd#iret_SharebasedCompensationArrangementBySharebasedPaymentAwardAwardVestingRightsShares" xlink:label="iret_SharebasedCompensationArrangementBySharebasedPaymentAwardAwardVestingRightsShares" xmlns="http://www.xbrl.org/2003/linkbase" />
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="iret_SharebasedCompensationArrangementBySharebasedPaymentAwardAwardVestingRightsShares" xlink:to="iret_SharebasedCompensationArrangementBySharebasedPaymentAwardAwardVestingRightsShares_lbl" xmlns="http://www.xbrl.org/2003/linkbase" />
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="iret_SharebasedCompensationArrangementBySharebasedPaymentAwardAwardVestingRightsShares_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase">Number of shares of vesting of share-based compensation awards.</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="iret_SharebasedCompensationArrangementBySharebasedPaymentAwardAwardVestingRightsShares_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase">Sharebased Compensation Arrangement by Sharebased Payment Award Award Vesting Rights Shares</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="iret_SharebasedCompensationArrangementBySharebasedPaymentAwardAwardVestingRightsShares_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase">Restricted shares vesting (in shares)</label>
    <loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2016/elts/us-gaap-2016-01-31.xsd#us-gaap_SharebasedCompensationArrangementBySharebasedPaymentAwardAwardVestingRightsPercentage" xlink:label="us-gaap_SharebasedCompensationArrangementBySharebasedPaymentAwardAwardVestingRightsPercentage" xmlns="http://www.xbrl.org/2003/linkbase" />
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_SharebasedCompensationArrangementBySharebasedPaymentAwardAwardVestingRightsPercentage" xlink:to="us-gaap_SharebasedCompensationArrangementBySharebasedPaymentAwardAwardVestingRightsPercentage_lbl" xmlns="http://www.xbrl.org/2003/linkbase" />
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_SharebasedCompensationArrangementBySharebasedPaymentAwardAwardVestingRightsPercentage_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase">Share-based Compensation Arrangement by Share-based Payment Award, Award Vesting Rights, Percentage</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="us-gaap_SharebasedCompensationArrangementBySharebasedPaymentAwardAwardVestingRightsPercentage_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase">Restricted shares vesting percentage</label>
    <loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2016/elts/us-gaap-2016-01-31.xsd#us-gaap_AllocatedShareBasedCompensationExpense" xlink:label="us-gaap_AllocatedShareBasedCompensationExpense" xmlns="http://www.xbrl.org/2003/linkbase" />
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_AllocatedShareBasedCompensationExpense" xlink:to="us-gaap_AllocatedShareBasedCompensationExpense_lbl" xmlns="http://www.xbrl.org/2003/linkbase" />
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_AllocatedShareBasedCompensationExpense_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase">Stock-based compensation expense</label>
    <loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2016/elts/us-gaap-2016-01-31.xsd#us-gaap_EmployeeServiceShareBasedCompensationNonvestedAwardsTotalCompensationCostNotYetRecognized" xlink:label="us-gaap_EmployeeServiceShareBasedCompensationNonvestedAwardsTotalCompensationCostNotYetRecognized" xmlns="http://www.xbrl.org/2003/linkbase" />
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_EmployeeServiceShareBasedCompensationNonvestedAwardsTotalCompensationCostNotYetRecognized" xlink:to="us-gaap_EmployeeServiceShareBasedCompensationNonvestedAwardsTotalCompensationCostNotYetRecognized_lbl" xmlns="http://www.xbrl.org/2003/linkbase" />
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_EmployeeServiceShareBasedCompensationNonvestedAwardsTotalCompensationCostNotYetRecognized_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase">Total compensation cost related to non-vested share awards</label>
    <loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2016/elts/us-gaap-2016-01-31.xsd#us-gaap_EmployeeServiceShareBasedCompensationNonvestedAwardsTotalCompensationCostNotYetRecognizedPeriodForRecognition1" xlink:label="us-gaap_EmployeeServiceShareBasedCompensationNonvestedAwardsTotalCompensationCostNotYetRecognizedPeriodForRecognition1" xmlns="http://www.xbrl.org/2003/linkbase" />
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_EmployeeServiceShareBasedCompensationNonvestedAwardsTotalCompensationCostNotYetRecognizedPeriodForRecognition1" xlink:to="us-gaap_EmployeeServiceShareBasedCompensationNonvestedAwardsTotalCompensationCostNotYetRecognizedPeriodForRecognition1_lbl" xmlns="http://www.xbrl.org/2003/linkbase" />
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_EmployeeServiceShareBasedCompensationNonvestedAwardsTotalCompensationCostNotYetRecognizedPeriodForRecognition1_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase">Employee Service Share-based Compensation, Nonvested Awards, Compensation Cost Not yet Recognized, Period for Recognition</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="us-gaap_EmployeeServiceShareBasedCompensationNonvestedAwardsTotalCompensationCostNotYetRecognizedPeriodForRecognition1_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase">Weighted average period to recognize cost</label>
    <loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2016/elts/us-gaap-2016-01-31.xsd#us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardFairValueAssumptionsAndMethodologyAbstract" xlink:label="us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardFairValueAssumptionsAndMethodologyAbstract" xmlns="http://www.xbrl.org/2003/linkbase" />
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardFairValueAssumptionsAndMethodologyAbstract" xlink:to="us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardFairValueAssumptionsAndMethodologyAbstract_lbl" xmlns="http://www.xbrl.org/2003/linkbase" />
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardFairValueAssumptionsAndMethodologyAbstract_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase">Share-based Compensation Arrangement by Share-based Payment Award, Fair Value Assumptions and Methodology [Abstract]</label>
    <loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2016/elts/us-gaap-2016-01-31.xsd#us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardFairValueAssumptionsExpectedVolatilityRate" xlink:label="us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardFairValueAssumptionsExpectedVolatilityRate" xmlns="http://www.xbrl.org/2003/linkbase" />
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardFairValueAssumptionsExpectedVolatilityRate" xlink:to="us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardFairValueAssumptionsExpectedVolatilityRate_lbl" xmlns="http://www.xbrl.org/2003/linkbase" />
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardFairValueAssumptionsExpectedVolatilityRate_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase">Expected volatility rate (in hundredths)</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardFairValueAssumptionsExpectedVolatilityRate_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase">Volatility rate (in hundredths)</label>
    <loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2016/elts/us-gaap-2016-01-31.xsd#us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardFairValueAssumptionsRiskFreeInterestRate" xlink:label="us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardFairValueAssumptionsRiskFreeInterestRate" xmlns="http://www.xbrl.org/2003/linkbase" />
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardFairValueAssumptionsRiskFreeInterestRate" xlink:to="us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardFairValueAssumptionsRiskFreeInterestRate_lbl" xmlns="http://www.xbrl.org/2003/linkbase" />
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardFairValueAssumptionsRiskFreeInterestRate_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase">Risk-free interest rate (in hundredths)</label>
    <loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2016/elts/us-gaap-2016-01-31.xsd#us-gaap_SharebasedCompensationArrangementBySharebasedPaymentAwardFairValueAssumptionsExpectedTerm1" xlink:label="us-gaap_SharebasedCompensationArrangementBySharebasedPaymentAwardFairValueAssumptionsExpectedTerm1" xmlns="http://www.xbrl.org/2003/linkbase" />
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_SharebasedCompensationArrangementBySharebasedPaymentAwardFairValueAssumptionsExpectedTerm1" xlink:to="us-gaap_SharebasedCompensationArrangementBySharebasedPaymentAwardFairValueAssumptionsExpectedTerm1_lbl" xmlns="http://www.xbrl.org/2003/linkbase" />
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_SharebasedCompensationArrangementBySharebasedPaymentAwardFairValueAssumptionsExpectedTerm1_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase">Share-based Compensation Arrangement by Share-based Payment Award, Fair Value Assumptions, Expected Term</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="us-gaap_SharebasedCompensationArrangementBySharebasedPaymentAwardFairValueAssumptionsExpectedTerm1_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase">Expected life</label>
    <loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2016/elts/us-gaap-2016-01-31.xsd#us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsNonvestedRollForward" xlink:label="us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsNonvestedRollForward" xmlns="http://www.xbrl.org/2003/linkbase" />
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsNonvestedRollForward" xlink:to="us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsNonvestedRollForward_lbl" xmlns="http://www.xbrl.org/2003/linkbase" />
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsNonvestedRollForward_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase">Restricted share awards, shares [Roll Forward]</label>
    <loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2016/elts/us-gaap-2016-01-31.xsd#us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsNonvestedNumber" xlink:label="us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsNonvestedNumber" xmlns="http://www.xbrl.org/2003/linkbase" />
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsNonvestedNumber" xlink:to="us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsNonvestedNumber_lbl" xmlns="http://www.xbrl.org/2003/linkbase" />
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsNonvestedNumber_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase">Share-based Compensation Arrangement by Share-based Payment Award, Equity Instruments Other than Options, Nonvested, Number</label>
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    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsVestedInPeriod_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase">Share-based Compensation Arrangement by Share-based Payment Award, Equity Instruments Other than Options, Vested in Period</label>
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    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="iret_ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsGrantedAggregateGrantDateFairValueAbstract_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase">Share-Based Compensation Arrangement By Share-Based Payment Award, Equity Instruments Other Than Options, Granted, Aggregate Grant Date Fair Value [Abstract]</label>
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    <loc xlink:type="locator" xlink:href="iret-20170430.xsd#iret_ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsGrantsInPeriodAggregateGrantDateFairValue" xlink:label="iret_ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsGrantsInPeriodAggregateGrantDateFairValue" xmlns="http://www.xbrl.org/2003/linkbase" />
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    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="iret_ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsGrantsInPeriodAggregateGrantDateFairValue_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase">Share-Based Compensation Arrangement By Share-Based Payment Award, Equity Instruments Other Than Options, Grants In Period, Aggregate Grant Date Fair Value</label>
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    <loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2016/elts/us-gaap-2016-01-31.xsd#us-gaap_SharebasedCompensationArrangementBySharebasedPaymentAwardEquityInstrumentsOtherThanOptionsAggregateIntrinsicValueAbstract" xlink:label="us-gaap_SharebasedCompensationArrangementBySharebasedPaymentAwardEquityInstrumentsOtherThanOptionsAggregateIntrinsicValueAbstract" xmlns="http://www.xbrl.org/2003/linkbase" />
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    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="us-gaap_SharebasedCompensationArrangementBySharebasedPaymentAwardEquityInstrumentsOtherThanOptionsAggregateIntrinsicValueAbstract_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase">Share based awards with market conditions, unamortized value [Abstract]</label>
    <loc xlink:type="locator" xlink:href="iret-20170430.xsd#iret_ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsAggregateIntrinsicValueGranted" xlink:label="iret_ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsAggregateIntrinsicValueGranted" xmlns="http://www.xbrl.org/2003/linkbase" />
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    <loc xlink:type="locator" xlink:href="iret-20170430.xsd#iret_SubtotalOfMultiFamilyAndCommercialMember" xlink:label="iret_SubtotalOfMultiFamilyAndCommercialMember" xmlns="http://www.xbrl.org/2003/linkbase" />
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="iret_SubtotalOfMultiFamilyAndCommercialMember" xlink:to="iret_SubtotalOfMultiFamilyAndCommercialMember_lbl" xmlns="http://www.xbrl.org/2003/linkbase" />
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="iret_SubtotalOfMultiFamilyAndCommercialMember_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase">Subtotal of multi family and commercial segments.</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="iret_SubtotalOfMultiFamilyAndCommercialMember_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase">Subtotal Of Multi Family And Commercial [Member]</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="iret_SubtotalOfMultiFamilyAndCommercialMember_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase">Subtotal [Member]</label>
    <loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2016/elts/us-gaap-2016-01-31.xsd#us-gaap_WhollyOwnedPropertiesMember" xlink:label="us-gaap_WhollyOwnedPropertiesMember" xmlns="http://www.xbrl.org/2003/linkbase" />
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_WhollyOwnedPropertiesMember" xlink:to="us-gaap_WhollyOwnedPropertiesMember_lbl" xmlns="http://www.xbrl.org/2003/linkbase" />
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_WhollyOwnedPropertiesMember_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase">Wholly Owned Properties [Member]</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="us-gaap_WhollyOwnedPropertiesMember_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase">Wholly Owned Properties [Member]</label>
    <loc xlink:type="locator" xlink:href="iret-20170430.xsd#iret_DevelopmentInProgressMember" xlink:label="iret_DevelopmentInProgressMember" xmlns="http://www.xbrl.org/2003/linkbase" />
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="iret_DevelopmentInProgressMember" xlink:to="iret_DevelopmentInProgressMember_lbl" xmlns="http://www.xbrl.org/2003/linkbase" />
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="iret_DevelopmentInProgressMember_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase">Land and building development in progress.</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="iret_DevelopmentInProgressMember_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase">Development In Progress [Member]</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="iret_DevelopmentInProgressMember_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase">Development in Progress [Member]</label>
    <loc xlink:type="locator" xlink:href="iret-20170430.xsd#iret_Seven1FranceEdinaMNMember" xlink:label="iret_Seven1FranceEdinaMNMember" xmlns="http://www.xbrl.org/2003/linkbase" />
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="iret_Seven1FranceEdinaMNMember" xlink:to="iret_Seven1FranceEdinaMNMember_lbl" xmlns="http://www.xbrl.org/2003/linkbase" />
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="iret_Seven1FranceEdinaMNMember_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase">71 France - Edina, MN for development, expansion and renovation projects underway or recently completed.</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="iret_Seven1FranceEdinaMNMember_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase">Seven1 France Edina M N [Member]</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="iret_Seven1FranceEdinaMNMember_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase">71 France - Edina, MN [Member]</label>
    <loc xlink:type="locator" xlink:href="iret-20170430.xsd#iret_AlpsParkRapidCitySdMember" xlink:label="iret_AlpsParkRapidCitySdMember" xmlns="http://www.xbrl.org/2003/linkbase" />
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="iret_AlpsParkRapidCitySdMember" xlink:to="iret_AlpsParkRapidCitySdMember_lbl" xmlns="http://www.xbrl.org/2003/linkbase" />
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="iret_AlpsParkRapidCitySdMember_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase">Alps Park - Rapid City, SD for development, expansion and renovation projects underway or recently completed.</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="iret_AlpsParkRapidCitySdMember_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase">Alps Park Rapid City Sd [Member]</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="iret_AlpsParkRapidCitySdMember_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase">Alps Park - Rapid City, SD [Member]</label>
    <loc xlink:type="locator" xlink:href="iret-20170430.xsd#iret_ArborsSSiouxCityNeMember" xlink:label="iret_ArborsSSiouxCityNeMember" xmlns="http://www.xbrl.org/2003/linkbase" />
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="iret_ArborsSSiouxCityNeMember" xlink:to="iret_ArborsSSiouxCityNeMember_lbl" xmlns="http://www.xbrl.org/2003/linkbase" />
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="iret_ArborsSSiouxCityNeMember_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase">Arbors - S Sioux City, NE for development, expansion and renovation projects underway or recently completed.</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="iret_ArborsSSiouxCityNeMember_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase">Arbors S Sioux City Ne [Member]</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="iret_ArborsSSiouxCityNeMember_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase">Arbors - S Sioux City, NE [Member]</label>
    <loc xlink:type="locator" xlink:href="iret-20170430.xsd#iret_ArcataGoldenValleyMnMember" xlink:label="iret_ArcataGoldenValleyMnMember" xmlns="http://www.xbrl.org/2003/linkbase" />
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="iret_ArcataGoldenValleyMnMember" xlink:to="iret_ArcataGoldenValleyMnMember_lbl" xmlns="http://www.xbrl.org/2003/linkbase" />
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="iret_ArcataGoldenValleyMnMember_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase">Arcata - Golden Valley, MN ND for development, expansion and renovation projects underway or recently completed.</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="iret_ArcataGoldenValleyMnMember_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase">Arcata Golden Valley Mn [Member]</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="iret_ArcataGoldenValleyMnMember_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase">Arcata - Golden Valley, MN [Member]</label>
    <loc xlink:type="locator" xlink:href="iret-20170430.xsd#iret_AshlandGrandForksNdMember" xlink:label="iret_AshlandGrandForksNdMember" xmlns="http://www.xbrl.org/2003/linkbase" />
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="iret_AshlandGrandForksNdMember" xlink:to="iret_AshlandGrandForksNdMember_lbl" xmlns="http://www.xbrl.org/2003/linkbase" />
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="iret_AshlandGrandForksNdMember_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase">Ashland - Grand Forks, ND property acquired or disposed.</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="iret_AshlandGrandForksNdMember_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase">Ashland Grand Forks Nd [Member]</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="iret_AshlandGrandForksNdMember_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase">Ashland - Grand Forks, ND [Member]</label>
    <loc xlink:type="locator" xlink:href="iret-20170430.xsd#iret_AvalonCoveRochesterMnMember" xlink:label="iret_AvalonCoveRochesterMnMember" xmlns="http://www.xbrl.org/2003/linkbase" />
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="iret_AvalonCoveRochesterMnMember" xlink:to="iret_AvalonCoveRochesterMnMember_lbl" xmlns="http://www.xbrl.org/2003/linkbase" />
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="iret_AvalonCoveRochesterMnMember_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase">Avalon Cove - Rochester, MN for development, expansion and renovation projects underway or recently completed.</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="iret_AvalonCoveRochesterMnMember_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase">Avalon Cove Rochester Mn [Member]</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="iret_AvalonCoveRochesterMnMember_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase">Avalon Cove - Rochester, MN</label>
    <loc xlink:type="locator" xlink:href="iret-20170430.xsd#iret_BoulderCourtEaganMnMember" xlink:label="iret_BoulderCourtEaganMnMember" xmlns="http://www.xbrl.org/2003/linkbase" />
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="iret_BoulderCourtEaganMnMember" xlink:to="iret_BoulderCourtEaganMnMember_lbl" xmlns="http://www.xbrl.org/2003/linkbase" />
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="iret_BoulderCourtEaganMnMember_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase">Boulder Court - Eagan, MN for development, expansion and renovation projects underway or recently completed.</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="iret_BoulderCourtEaganMnMember_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase">Boulder Court Eagan Mn [Member]</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="iret_BoulderCourtEaganMnMember_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase">Boulder Court - Eagan, MN [Member]</label>
    <loc xlink:type="locator" xlink:href="iret-20170430.xsd#iret_BrookfieldVillageTopekaKsMember" xlink:label="iret_BrookfieldVillageTopekaKsMember" xmlns="http://www.xbrl.org/2003/linkbase" />
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="iret_BrookfieldVillageTopekaKsMember" xlink:to="iret_BrookfieldVillageTopekaKsMember_lbl" xmlns="http://www.xbrl.org/2003/linkbase" />
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="iret_BrookfieldVillageTopekaKsMember_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase">Brookfield Village - Topeka, KS for development, expansion and renovation projects underway or recently completed.</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="iret_BrookfieldVillageTopekaKsMember_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase">Brookfield Village Topeka Ks [Member]</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="iret_BrookfieldVillageTopekaKsMember_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase">Brookfield Village - Topeka, KS [Member]</label>
    <loc xlink:type="locator" xlink:href="iret-20170430.xsd#iret_CanyonLakeRapidCitySdMember" xlink:label="iret_CanyonLakeRapidCitySdMember" xmlns="http://www.xbrl.org/2003/linkbase" />
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="iret_CanyonLakeRapidCitySdMember" xlink:to="iret_CanyonLakeRapidCitySdMember_lbl" xmlns="http://www.xbrl.org/2003/linkbase" />
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="iret_CanyonLakeRapidCitySdMember_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase">Canyon Lake - Rapid City, SD for development, expansion and renovation projects underway or recently completed.</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="iret_CanyonLakeRapidCitySdMember_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase">Canyon Lake Rapid City Sd [Member]</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="iret_CanyonLakeRapidCitySdMember_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase">Canyon Lake - Rapid City, SD [Member]</label>
    <loc xlink:type="locator" xlink:href="iret-20170430.xsd#iret_CardinalPointGrandForksNdMember" xlink:label="iret_CardinalPointGrandForksNdMember" xmlns="http://www.xbrl.org/2003/linkbase" />
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="iret_CardinalPointGrandForksNdMember" xlink:to="iret_CardinalPointGrandForksNdMember_lbl" xmlns="http://www.xbrl.org/2003/linkbase" />
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="iret_CardinalPointGrandForksNdMember_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase">Cardinal Point - Grand Forks, ND for development, expansion and renovation projects underway or recently completed.</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="iret_CardinalPointGrandForksNdMember_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase">Cardinal Point Grand Forks Nd [Member]</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="iret_CardinalPointGrandForksNdMember_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase">Cardinal Point - Grand Forks, ND</label>
    <loc xlink:type="locator" xlink:href="iret-20170430.xsd#iret_CascadeShoresRochesterMnMember" xlink:label="iret_CascadeShoresRochesterMnMember" xmlns="http://www.xbrl.org/2003/linkbase" />
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="iret_CascadeShoresRochesterMnMember" xlink:to="iret_CascadeShoresRochesterMnMember_lbl" xmlns="http://www.xbrl.org/2003/linkbase" />
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="iret_CascadeShoresRochesterMnMember_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase">Cascade Shores - Rochester, MN for development, expansion and renovation projects underway or recently completed.</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="iret_CascadeShoresRochesterMnMember_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase">Cascade Shores Rochester Mn [Member]</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="iret_CascadeShoresRochesterMnMember_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase">Cascade Shores - Rochester, MN</label>
    <loc xlink:type="locator" xlink:href="iret-20170430.xsd#iret_CastlerockBillingsMtMember" xlink:label="iret_CastlerockBillingsMtMember" xmlns="http://www.xbrl.org/2003/linkbase" />
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="iret_CastlerockBillingsMtMember" xlink:to="iret_CastlerockBillingsMtMember_lbl" xmlns="http://www.xbrl.org/2003/linkbase" />
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="iret_CastlerockBillingsMtMember_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase">Castlerock - Billings, MT for development, expansion and renovation projects underway or recently completed.</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="iret_CastlerockBillingsMtMember_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase">Castlerock Billings Mt [Member]</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="iret_CastlerockBillingsMtMember_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase">Castlerock - Billings, MT [Member]</label>
    <loc xlink:type="locator" xlink:href="iret-20170430.xsd#iret_ChateauIIiMinotNdMember" xlink:label="iret_ChateauIIiMinotNdMember" xmlns="http://www.xbrl.org/2003/linkbase" />
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="iret_ChateauIIiMinotNdMember" xlink:to="iret_ChateauIIiMinotNdMember_lbl" xmlns="http://www.xbrl.org/2003/linkbase" />
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="iret_ChateauIIiMinotNdMember_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase">Chateau I &amp; II - Minot, ND for development, expansion and renovation projects underway or recently completed.</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="iret_ChateauIIiMinotNdMember_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase">Chateau I Ii Minot Nd [Member]</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="iret_ChateauIIiMinotNdMember_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase">Chateau I &amp; II - Minot, ND</label>
    <loc xlink:type="locator" xlink:href="iret-20170430.xsd#iret_CimarronHillsOmahaNeMember" xlink:label="iret_CimarronHillsOmahaNeMember" xmlns="http://www.xbrl.org/2003/linkbase" />
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="iret_CimarronHillsOmahaNeMember" xlink:to="iret_CimarronHillsOmahaNeMember_lbl" xmlns="http://www.xbrl.org/2003/linkbase" />
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="iret_CimarronHillsOmahaNeMember_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase">Cimarron Hills - Omaha, NE for development, expansion and renovation projects underway or recently completed.</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="iret_CimarronHillsOmahaNeMember_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase">Cimarron Hills Omaha Ne [Member]</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="iret_CimarronHillsOmahaNeMember_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase">Cimarron Hills - Omaha, NE [Member]</label>
    <loc xlink:type="locator" xlink:href="iret-20170430.xsd#iret_ColonialVillaBurnsvilleMnMember" xlink:label="iret_ColonialVillaBurnsvilleMnMember" xmlns="http://www.xbrl.org/2003/linkbase" />
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="iret_ColonialVillaBurnsvilleMnMember" xlink:to="iret_ColonialVillaBurnsvilleMnMember_lbl" xmlns="http://www.xbrl.org/2003/linkbase" />
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="iret_ColonialVillaBurnsvilleMnMember_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase">Colonial Villa - Burnsville, MN for development, expansion and renovation projects underway or recently completed.</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="iret_ColonialVillaBurnsvilleMnMember_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase">Colonial Villa Burnsville Mn [Member]</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="iret_ColonialVillaBurnsvilleMnMember_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase">Colonial Villa - Burnsville, MN [Member]</label>
    <loc xlink:type="locator" xlink:href="iret-20170430.xsd#iret_ColonyLincolnNeMember" xlink:label="iret_ColonyLincolnNeMember" xmlns="http://www.xbrl.org/2003/linkbase" />
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="iret_ColonyLincolnNeMember" xlink:to="iret_ColonyLincolnNeMember_lbl" xmlns="http://www.xbrl.org/2003/linkbase" />
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="iret_ColonyLincolnNeMember_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase">Colony - Lincoln, NE for development, expansion and renovation projects underway or recently completed.</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="iret_ColonyLincolnNeMember_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase">Colony Lincoln Ne [Member]</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="iret_ColonyLincolnNeMember_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase">Colony - Lincoln, NE [Member]</label>
    <loc xlink:type="locator" xlink:href="iret-20170430.xsd#iret_CommonsAtSouthgateMinotNDMember" xlink:label="iret_CommonsAtSouthgateMinotNDMember" xmlns="http://www.xbrl.org/2003/linkbase" />
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="iret_CommonsAtSouthgateMinotNDMember" xlink:to="iret_CommonsAtSouthgateMinotNDMember_lbl" xmlns="http://www.xbrl.org/2003/linkbase" />
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="iret_CommonsAtSouthgateMinotNDMember_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase">Commons at Southgate - Minot, ND for development, expansion and renovation projects underway or recently completed.</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="iret_CommonsAtSouthgateMinotNDMember_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase">Commons At Southgate Minot N D [Member]</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="iret_CommonsAtSouthgateMinotNDMember_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase">Commons at Southgate - Minot, ND [Member]</label>
    <loc xlink:type="locator" xlink:href="iret-20170430.xsd#iret_CottageWestTwinHomesSiouxFallsSdMember" xlink:label="iret_CottageWestTwinHomesSiouxFallsSdMember" xmlns="http://www.xbrl.org/2003/linkbase" />
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="iret_CottageWestTwinHomesSiouxFallsSdMember" xlink:to="iret_CottageWestTwinHomesSiouxFallsSdMember_lbl" xmlns="http://www.xbrl.org/2003/linkbase" />
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="iret_CottageWestTwinHomesSiouxFallsSdMember_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase">Cottage West Twin Homes - Sioux Falls, SD property acquired or disposed.</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="iret_CottageWestTwinHomesSiouxFallsSdMember_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase">Cottage West Twin Homes Sioux Falls Sd [Member]</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="iret_CottageWestTwinHomesSiouxFallsSdMember_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase">Cottage West Twin Homes - Sioux Falls, SD [Member]</label>
    <loc xlink:type="locator" xlink:href="iret-20170430.xsd#iret_CottonwoodBismarckNdMember" xlink:label="iret_CottonwoodBismarckNdMember" xmlns="http://www.xbrl.org/2003/linkbase" />
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="iret_CottonwoodBismarckNdMember" xlink:to="iret_CottonwoodBismarckNdMember_lbl" xmlns="http://www.xbrl.org/2003/linkbase" />
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="iret_CottonwoodBismarckNdMember_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase">Cottonwood - Bismarck, ND for development, expansion and renovation projects underway or recently completed.</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="iret_CottonwoodBismarckNdMember_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase">Cottonwood Bismarck Nd [Member]</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="iret_CottonwoodBismarckNdMember_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase">Cottonwood - Bismarck, ND [Member]</label>
    <loc xlink:type="locator" xlink:href="iret-20170430.xsd#iret_CountryMeadowsBillingsMtMember" xlink:label="iret_CountryMeadowsBillingsMtMember" xmlns="http://www.xbrl.org/2003/linkbase" />
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="iret_CountryMeadowsBillingsMtMember" xlink:to="iret_CountryMeadowsBillingsMtMember_lbl" xmlns="http://www.xbrl.org/2003/linkbase" />
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="iret_CountryMeadowsBillingsMtMember_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase">Country Meadows - Billings, MT for development, expansion and renovation projects underway or recently completed.</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="iret_CountryMeadowsBillingsMtMember_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase">Country Meadows Billings Mt [Member]</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="iret_CountryMeadowsBillingsMtMember_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase">Country Meadows - Billings, MT [Member]</label>
    <loc xlink:type="locator" xlink:href="iret-20170430.xsd#iret_CrestviewBismarckNdMember" xlink:label="iret_CrestviewBismarckNdMember" xmlns="http://www.xbrl.org/2003/linkbase" />
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="iret_CrestviewBismarckNdMember" xlink:to="iret_CrestviewBismarckNdMember_lbl" xmlns="http://www.xbrl.org/2003/linkbase" />
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="iret_CrestviewBismarckNdMember_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase">Crestview - Bismarck, ND for development, expansion and renovation projects underway or recently completed.</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="iret_CrestviewBismarckNdMember_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase">Crestview Bismarck Nd [Member]</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="iret_CrestviewBismarckNdMember_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase">Crestview - Bismarck, ND [Member]</label>
    <loc xlink:type="locator" xlink:href="iret-20170430.xsd#iret_CrownRochesterMnMember" xlink:label="iret_CrownRochesterMnMember" xmlns="http://www.xbrl.org/2003/linkbase" />
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="iret_CrownRochesterMnMember" xlink:to="iret_CrownRochesterMnMember_lbl" xmlns="http://www.xbrl.org/2003/linkbase" />
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="iret_CrownRochesterMnMember_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase">Crown - Rochester, MN for development, expansion and renovation projects underway or recently completed.</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="iret_CrownRochesterMnMember_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase">Crown Rochester Mn [Member]</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="iret_CrownRochesterMnMember_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase">Crown - Rochester, MN [Member]</label>
    <loc xlink:type="locator" xlink:href="iret-20170430.xsd#iret_CrownColonyTopekaKsMember" xlink:label="iret_CrownColonyTopekaKsMember" xmlns="http://www.xbrl.org/2003/linkbase" />
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="iret_CrownColonyTopekaKsMember" xlink:to="iret_CrownColonyTopekaKsMember_lbl" xmlns="http://www.xbrl.org/2003/linkbase" />
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="iret_CrownColonyTopekaKsMember_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase">Crown Colony - Topeka, KS for development, expansion and renovation projects underway or recently completed.</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="iret_CrownColonyTopekaKsMember_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase">Crown Colony Topeka Ks [Member]</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="iret_CrownColonyTopekaKsMember_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase">Crown Colony - Topeka, KS [Member]</label>
    <loc xlink:type="locator" xlink:href="iret-20170430.xsd#iret_CrystalBayRochesterMnMember" xlink:label="iret_CrystalBayRochesterMnMember" xmlns="http://www.xbrl.org/2003/linkbase" />
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="iret_CrystalBayRochesterMnMember" xlink:to="iret_CrystalBayRochesterMnMember_lbl" xmlns="http://www.xbrl.org/2003/linkbase" />
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="iret_CrystalBayRochesterMnMember_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase">Crystal Bay - Rochester, MN for development, expansion and renovation projects underway or recently completed.</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="iret_CrystalBayRochesterMnMember_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase">Crystal Bay Rochester Mn [Member]</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="iret_CrystalBayRochesterMnMember_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase">Crystal Bay - Rochester, MN</label>
    <loc xlink:type="locator" xlink:href="iret-20170430.xsd#iret_CypressCourtStCloudMnMember" xlink:label="iret_CypressCourtStCloudMnMember" xmlns="http://www.xbrl.org/2003/linkbase" />
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="iret_CypressCourtStCloudMnMember" xlink:to="iret_CypressCourtStCloudMnMember_lbl" xmlns="http://www.xbrl.org/2003/linkbase" />
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="iret_CypressCourtStCloudMnMember_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase">Cypress Court - St. Cloud, MN for development, expansion and renovation projects underway or recently completed.</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="iret_CypressCourtStCloudMnMember_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase">Cypress Court St Cloud Mn [Member]</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="iret_CypressCourtStCloudMnMember_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase">Cypress Court - St. Cloud, MN [Member]</label>
    <loc xlink:type="locator" xlink:href="iret-20170430.xsd#iret_DakotaCommonsWillistonNdMember" xlink:label="iret_DakotaCommonsWillistonNdMember" xmlns="http://www.xbrl.org/2003/linkbase" />
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="iret_DakotaCommonsWillistonNdMember" xlink:to="iret_DakotaCommonsWillistonNdMember_lbl" xmlns="http://www.xbrl.org/2003/linkbase" />
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="iret_DakotaCommonsWillistonNdMember_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase">Dakota Commons - Williston, ND for development, expansion and renovation projects underway or recently completed.</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="iret_DakotaCommonsWillistonNdMember_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase">Dakota Commons Williston Nd [Member]</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="iret_DakotaCommonsWillistonNdMember_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase">Dakota Commons - Williston, ND [Member]</label>
    <loc xlink:type="locator" xlink:href="iret-20170430.xsd#iret_DeerRidgeJamestownNdMember" xlink:label="iret_DeerRidgeJamestownNdMember" xmlns="http://www.xbrl.org/2003/linkbase" />
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="iret_DeerRidgeJamestownNdMember" xlink:to="iret_DeerRidgeJamestownNdMember_lbl" xmlns="http://www.xbrl.org/2003/linkbase" />
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="iret_DeerRidgeJamestownNdMember_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase">'Deer Ridge - Jamestown, ND</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="iret_DeerRidgeJamestownNdMember_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase">Deer Ridge Jamestown Nd [Member]</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="iret_DeerRidgeJamestownNdMember_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase">Deer Ridge - Jamestown, ND</label>
    <loc xlink:type="locator" xlink:href="iret-20170430.xsd#iret_EvergreenIsantiMnMember" xlink:label="iret_EvergreenIsantiMnMember" xmlns="http://www.xbrl.org/2003/linkbase" />
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="iret_EvergreenIsantiMnMember" xlink:to="iret_EvergreenIsantiMnMember_lbl" xmlns="http://www.xbrl.org/2003/linkbase" />
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="iret_EvergreenIsantiMnMember_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase">Evergreen - Isanti, MN for development, expansion and renovation projects underway or recently completed.</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="iret_EvergreenIsantiMnMember_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase">Evergreen Isanti Mn [Member]</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="iret_EvergreenIsantiMnMember_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase">Evergreen - Isanti, MN [Member]</label>
    <loc xlink:type="locator" xlink:href="iret-20170430.xsd#iret_ForestParkGrandForksNdMember" xlink:label="iret_ForestParkGrandForksNdMember" xmlns="http://www.xbrl.org/2003/linkbase" />
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="iret_ForestParkGrandForksNdMember" xlink:to="iret_ForestParkGrandForksNdMember_lbl" xmlns="http://www.xbrl.org/2003/linkbase" />
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="iret_ForestParkGrandForksNdMember_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase">Forest Park - Grand Forks, ND for development, expansion and renovation projects underway or recently completed.</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="iret_ForestParkGrandForksNdMember_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase">Forest Park Grand Forks Nd [Member]</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="iret_ForestParkGrandForksNdMember_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase">Forest Park - Grand Forks, ND [Member]</label>
    <loc xlink:type="locator" xlink:href="iret-20170430.xsd#iret_FrenchCreekRochesterMnMember" xlink:label="iret_FrenchCreekRochesterMnMember" xmlns="http://www.xbrl.org/2003/linkbase" />
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="iret_FrenchCreekRochesterMnMember" xlink:to="iret_FrenchCreekRochesterMnMember_lbl" xmlns="http://www.xbrl.org/2003/linkbase" />
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="iret_FrenchCreekRochesterMnMember_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase">French Creek - Rochester, MN for development, expansion and renovation projects underway or recently completed.</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="iret_FrenchCreekRochesterMnMember_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase">French Creek Rochester Mn [Member]</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="iret_FrenchCreekRochesterMnMember_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase">French Creek - Rochester, MN</label>
    <loc xlink:type="locator" xlink:href="iret-20170430.xsd#iret_GablesTownhomesSiouxFallsSdMember" xlink:label="iret_GablesTownhomesSiouxFallsSdMember" xmlns="http://www.xbrl.org/2003/linkbase" />
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="iret_GablesTownhomesSiouxFallsSdMember" xlink:to="iret_GablesTownhomesSiouxFallsSdMember_lbl" xmlns="http://www.xbrl.org/2003/linkbase" />
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="iret_GablesTownhomesSiouxFallsSdMember_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase">Gables Townhomes - Sioux Falls, SD property acquired or disposed.</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="iret_GablesTownhomesSiouxFallsSdMember_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase">Gables Townhomes Sioux Falls Sd [Member]</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="iret_GablesTownhomesSiouxFallsSdMember_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase">Gables Townhomes - Sioux Falls, SD [Member]</label>
    <loc xlink:type="locator" xlink:href="iret-20170430.xsd#iret_GardensGrandForksNDMember" xlink:label="iret_GardensGrandForksNDMember" xmlns="http://www.xbrl.org/2003/linkbase" />
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="iret_GardensGrandForksNDMember" xlink:to="iret_GardensGrandForksNDMember_lbl" xmlns="http://www.xbrl.org/2003/linkbase" />
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="iret_GardensGrandForksNDMember_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase">Gardens - Grand Forks, ND property acquired or disposed.</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="iret_GardensGrandForksNDMember_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase">Gardens Grand Forks N D [Member]</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="iret_GardensGrandForksNDMember_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase">Gardens - Grand Forks, ND [Member]</label>
    <loc xlink:type="locator" xlink:href="iret-20170430.xsd#iret_GrandGatewayStCloudMnMember" xlink:label="iret_GrandGatewayStCloudMnMember" xmlns="http://www.xbrl.org/2003/linkbase" />
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="iret_GrandGatewayStCloudMnMember" xlink:to="iret_GrandGatewayStCloudMnMember_lbl" xmlns="http://www.xbrl.org/2003/linkbase" />
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="iret_GrandGatewayStCloudMnMember_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase">Grand Gateway - St. Cloud MN property acquired or disposed.</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="iret_GrandGatewayStCloudMnMember_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase">Grand Gateway St Cloud Mn [Member]</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="iret_GrandGatewayStCloudMnMember_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase">Grand Gateway - St. Cloud, MN [Member]</label>
    <loc xlink:type="locator" xlink:href="iret-20170430.xsd#iret_GrandevilleAtCascadeLakeRochesterMnMember" xlink:label="iret_GrandevilleAtCascadeLakeRochesterMnMember" xmlns="http://www.xbrl.org/2003/linkbase" />
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="iret_GrandevilleAtCascadeLakeRochesterMnMember" xlink:to="iret_GrandevilleAtCascadeLakeRochesterMnMember_lbl" xmlns="http://www.xbrl.org/2003/linkbase" />
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="iret_GrandevilleAtCascadeLakeRochesterMnMember_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase">GrandeVille at Cascade Lake - Rochester, MN for development, expansion and renovation projects underway or recently completed.</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="iret_GrandevilleAtCascadeLakeRochesterMnMember_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase">Grandeville At Cascade Lake Rochester Mn [Member]</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="iret_GrandevilleAtCascadeLakeRochesterMnMember_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase">GrandeVille at Cascade Lake - Rochester, MN</label>
    <loc xlink:type="locator" xlink:href="iret-20170430.xsd#iret_GreenfieldOmahaNeMember" xlink:label="iret_GreenfieldOmahaNeMember" xmlns="http://www.xbrl.org/2003/linkbase" />
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="iret_GreenfieldOmahaNeMember" xlink:to="iret_GreenfieldOmahaNeMember_lbl" xmlns="http://www.xbrl.org/2003/linkbase" />
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="iret_GreenfieldOmahaNeMember_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase">Greenfield - Omaha, NE for development, expansion and renovation projects underway or recently completed.</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="iret_GreenfieldOmahaNeMember_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase">Greenfield Omaha Ne [Member]</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="iret_GreenfieldOmahaNeMember_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase">Greenfield - Omaha, NE [Member]</label>
    <loc xlink:type="locator" xlink:href="iret-20170430.xsd#iret_HeritageManorRochesterMnMember" xlink:label="iret_HeritageManorRochesterMnMember" xmlns="http://www.xbrl.org/2003/linkbase" />
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="iret_HeritageManorRochesterMnMember" xlink:to="iret_HeritageManorRochesterMnMember_lbl" xmlns="http://www.xbrl.org/2003/linkbase" />
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="iret_HeritageManorRochesterMnMember_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase">Heritage Manor - Rochester, MN for development, expansion and renovation projects underway or recently completed.</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="iret_HeritageManorRochesterMnMember_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase">Heritage Manor Rochester Mn [Member]</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="iret_HeritageManorRochesterMnMember_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase">Heritage Manor - Rochester, MN [Member]</label>
    <loc xlink:type="locator" xlink:href="iret-20170430.xsd#iret_HomesteadGardenRapidCitySdMember" xlink:label="iret_HomesteadGardenRapidCitySdMember" xmlns="http://www.xbrl.org/2003/linkbase" />
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="iret_HomesteadGardenRapidCitySdMember" xlink:to="iret_HomesteadGardenRapidCitySdMember_lbl" xmlns="http://www.xbrl.org/2003/linkbase" />
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="iret_HomesteadGardenRapidCitySdMember_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase">Homestead Garden - Rapid City, SD</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="iret_HomesteadGardenRapidCitySdMember_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase">Homestead Garden Rapid City Sd [Member]</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="iret_HomesteadGardenRapidCitySdMember_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase">Homestead Garden - Rapid City, SD [Member]</label>
    <loc xlink:type="locator" xlink:href="iret-20170430.xsd#iret_IndianHillsSiouxCityIaMember" xlink:label="iret_IndianHillsSiouxCityIaMember" xmlns="http://www.xbrl.org/2003/linkbase" />
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="iret_IndianHillsSiouxCityIaMember" xlink:to="iret_IndianHillsSiouxCityIaMember_lbl" xmlns="http://www.xbrl.org/2003/linkbase" />
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="iret_IndianHillsSiouxCityIaMember_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase">Indian Hills - Sioux City, IA for development, expansion and renovation projects underway or recently completed.</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="iret_IndianHillsSiouxCityIaMember_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase">Indian Hills Sioux City Ia [Member]</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="iret_IndianHillsSiouxCityIaMember_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase">Indian Hills - Sioux City, IA [Member]</label>
    <loc xlink:type="locator" xlink:href="iret-20170430.xsd#iret_KirkwoodManorBismarckNdMember" xlink:label="iret_KirkwoodManorBismarckNdMember" xmlns="http://www.xbrl.org/2003/linkbase" />
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="iret_KirkwoodManorBismarckNdMember" xlink:to="iret_KirkwoodManorBismarckNdMember_lbl" xmlns="http://www.xbrl.org/2003/linkbase" />
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="iret_KirkwoodManorBismarckNdMember_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase">Kirkwood Manor - Bismarck, ND for development, expansion and renovation projects underway or recently completed.</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="iret_KirkwoodManorBismarckNdMember_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase">Kirkwood Manor Bismarck Nd [Member]</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="iret_KirkwoodManorBismarckNdMember_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase">Kirkwood Manor - Bismarck, ND [Member]</label>
    <loc xlink:type="locator" xlink:href="iret-20170430.xsd#iret_LakesideVillageLincolnNeMember" xlink:label="iret_LakesideVillageLincolnNeMember" xmlns="http://www.xbrl.org/2003/linkbase" />
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="iret_LakesideVillageLincolnNeMember" xlink:to="iret_LakesideVillageLincolnNeMember_lbl" xmlns="http://www.xbrl.org/2003/linkbase" />
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="iret_LakesideVillageLincolnNeMember_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase">Lakeside Village - Lincoln, NE for development, expansion and renovation projects underway or recently completed.</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="iret_LakesideVillageLincolnNeMember_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase">Lakeside Village Lincoln Ne [Member]</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="iret_LakesideVillageLincolnNeMember_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase">Lakeside Village Lincoln, NE [Member]</label>
    <loc xlink:type="locator" xlink:href="iret-20170430.xsd#iret_LandmarkGrandForksNdMember" xlink:label="iret_LandmarkGrandForksNdMember" xmlns="http://www.xbrl.org/2003/linkbase" />
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="iret_LandmarkGrandForksNdMember" xlink:to="iret_LandmarkGrandForksNdMember_lbl" xmlns="http://www.xbrl.org/2003/linkbase" />
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="iret_LandmarkGrandForksNdMember_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase">Landmark - Grand Forks, ND for development, expansion and renovation projects underway or recently completed.</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="iret_LandmarkGrandForksNdMember_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase">Landmark Grand Forks Nd [Member]</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="iret_LandmarkGrandForksNdMember_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase">Landmark - Grand Forks, ND [Member]</label>
    <loc xlink:type="locator" xlink:href="iret-20170430.xsd#iret_LegacyGrandForksNdMember" xlink:label="iret_LegacyGrandForksNdMember" xmlns="http://www.xbrl.org/2003/linkbase" />
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="iret_LegacyGrandForksNdMember" xlink:to="iret_LegacyGrandForksNdMember_lbl" xmlns="http://www.xbrl.org/2003/linkbase" />
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="iret_LegacyGrandForksNdMember_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase">Legacy - Grand Forks, ND for development, expansion and renovation projects underway or recently completed.</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="iret_LegacyGrandForksNdMember_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase">Legacy Grand Forks Nd [Member]</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="iret_LegacyGrandForksNdMember_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase">Legacy - Grand Forks, ND [Member]</label>
    <loc xlink:type="locator" xlink:href="iret-20170430.xsd#iret_LegacyHeightsBismarckNDMember" xlink:label="iret_LegacyHeightsBismarckNDMember" xmlns="http://www.xbrl.org/2003/linkbase" />
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="iret_LegacyHeightsBismarckNDMember" xlink:to="iret_LegacyHeightsBismarckNDMember_lbl" xmlns="http://www.xbrl.org/2003/linkbase" />
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="iret_LegacyHeightsBismarckNDMember_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase">Legacy Heights - Bismarck, ND for development, expansion and renovation projects underway or recently completed.</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="iret_LegacyHeightsBismarckNDMember_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase">Legacy Heights Bismarck N D [Member]</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="iret_LegacyHeightsBismarckNDMember_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase">Legacy Heights - Bismarck, ND [Member]</label>
    <loc xlink:type="locator" xlink:href="iret-20170430.xsd#iret_MariposaTopekaKsMember" xlink:label="iret_MariposaTopekaKsMember" xmlns="http://www.xbrl.org/2003/linkbase" />
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="iret_MariposaTopekaKsMember" xlink:to="iret_MariposaTopekaKsMember_lbl" xmlns="http://www.xbrl.org/2003/linkbase" />
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="iret_MariposaTopekaKsMember_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase">Mariposa - Topeka, KS for development, expansion and renovation projects underway or recently completed.</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="iret_MariposaTopekaKsMember_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase">Mariposa Topeka Ks [Member]</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="iret_MariposaTopekaKsMember_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase">Mariposa - Topeka, KS [Member]</label>
    <loc xlink:type="locator" xlink:href="iret-20170430.xsd#iret_MeadowsJamestownNdMember" xlink:label="iret_MeadowsJamestownNdMember" xmlns="http://www.xbrl.org/2003/linkbase" />
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="iret_MeadowsJamestownNdMember" xlink:to="iret_MeadowsJamestownNdMember_lbl" xmlns="http://www.xbrl.org/2003/linkbase" />
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="iret_MeadowsJamestownNdMember_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase">The Meadows - Jamestown, ND for development, expansion and renovation projects underway or recently completed.</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="iret_MeadowsJamestownNdMember_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase">Meadows Jamestown Nd [Member]</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="iret_MeadowsJamestownNdMember_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase">Meadows - Jamestown, ND [Member]</label>
    <loc xlink:type="locator" xlink:href="iret-20170430.xsd#iret_MonticelloCrossingsMonticelloMnMember" xlink:label="iret_MonticelloCrossingsMonticelloMnMember" xmlns="http://www.xbrl.org/2003/linkbase" />
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="iret_MonticelloCrossingsMonticelloMnMember" xlink:to="iret_MonticelloCrossingsMonticelloMnMember_lbl" xmlns="http://www.xbrl.org/2003/linkbase" />
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="iret_MonticelloCrossingsMonticelloMnMember_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase">Monticello Crossings - Monticello, MN for development, expansion and renovation projects underway or recently completed.</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="iret_MonticelloCrossingsMonticelloMnMember_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase">Monticello Crossings Monticello Mn [Member]</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="iret_MonticelloCrossingsMonticelloMnMember_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase">Monticello Crossings - Monticello, MN [Member]</label>
    <loc xlink:type="locator" xlink:href="iret-20170430.xsd#iret_MonticelloVillageMonticelloMnMember" xlink:label="iret_MonticelloVillageMonticelloMnMember" xmlns="http://www.xbrl.org/2003/linkbase" />
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="iret_MonticelloVillageMonticelloMnMember" xlink:to="iret_MonticelloVillageMonticelloMnMember_lbl" xmlns="http://www.xbrl.org/2003/linkbase" />
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="iret_MonticelloVillageMonticelloMnMember_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase">Monticello Village - Monticello, MN for development, expansion and renovation projects underway or recently completed.</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="iret_MonticelloVillageMonticelloMnMember_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase">Monticello Village Monticello Mn [Member]</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="iret_MonticelloVillageMonticelloMnMember_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase">Monticello Village - Monticello, MN [Member]</label>
    <loc xlink:type="locator" xlink:href="iret-20170430.xsd#iret_NorthernValleyRochesterMnMember" xlink:label="iret_NorthernValleyRochesterMnMember" xmlns="http://www.xbrl.org/2003/linkbase" />
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="iret_NorthernValleyRochesterMnMember" xlink:to="iret_NorthernValleyRochesterMnMember_lbl" xmlns="http://www.xbrl.org/2003/linkbase" />
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="iret_NorthernValleyRochesterMnMember_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase">Northern Valley - Rochester, MN for development, expansion and renovation projects underway or recently completed.</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="iret_NorthernValleyRochesterMnMember_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase">Northern Valley Rochester Mn [Member]</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="iret_NorthernValleyRochesterMnMember_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase">Northern Valley - Rochester, MN [Member]</label>
    <loc xlink:type="locator" xlink:href="iret-20170430.xsd#iret_NorthPointeBismarckNdMember" xlink:label="iret_NorthPointeBismarckNdMember" xmlns="http://www.xbrl.org/2003/linkbase" />
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="iret_NorthPointeBismarckNdMember" xlink:to="iret_NorthPointeBismarckNdMember_lbl" xmlns="http://www.xbrl.org/2003/linkbase" />
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="iret_NorthPointeBismarckNdMember_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase">North Pointe - Bismarck, ND for development, expansion and renovation projects underway or recently completed.</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="iret_NorthPointeBismarckNdMember_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase">North Pointe Bismarck Nd [Member]</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="iret_NorthPointeBismarckNdMember_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase">North Pointe - Bismarck, ND [Member]</label>
    <loc xlink:type="locator" xlink:href="iret-20170430.xsd#iret_NorthridgeBismarckNDMember" xlink:label="iret_NorthridgeBismarckNDMember" xmlns="http://www.xbrl.org/2003/linkbase" />
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="iret_NorthridgeBismarckNDMember" xlink:to="iret_NorthridgeBismarckNDMember_lbl" xmlns="http://www.xbrl.org/2003/linkbase" />
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="iret_NorthridgeBismarckNDMember_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase">Northridge - Bismarck, ND</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="iret_NorthridgeBismarckNDMember_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase">Northridge Bismarck N D [Member]</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="iret_NorthridgeBismarckNDMember_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase">Northridge - Bismarck, ND [Member]</label>
    <loc xlink:type="locator" xlink:href="iret-20170430.xsd#iret_OakmontEstatesSiouxFallsSdMember" xlink:label="iret_OakmontEstatesSiouxFallsSdMember" xmlns="http://www.xbrl.org/2003/linkbase" />
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="iret_OakmontEstatesSiouxFallsSdMember" xlink:to="iret_OakmontEstatesSiouxFallsSdMember_lbl" xmlns="http://www.xbrl.org/2003/linkbase" />
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="iret_OakmontEstatesSiouxFallsSdMember_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase">Oakmont Estates - Sioux Falls, SD for development, expansion and renovation projects underway or recently completed.</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="iret_OakmontEstatesSiouxFallsSdMember_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase">Oakmont Estates Sioux Falls Sd [Member]</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="iret_OakmontEstatesSiouxFallsSdMember_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase">Oakmont Estates - Sioux Falls, SD [Member]</label>
    <loc xlink:type="locator" xlink:href="iret-20170430.xsd#iret_OakwoodEstatesSiouxFallsSdMember" xlink:label="iret_OakwoodEstatesSiouxFallsSdMember" xmlns="http://www.xbrl.org/2003/linkbase" />
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="iret_OakwoodEstatesSiouxFallsSdMember" xlink:to="iret_OakwoodEstatesSiouxFallsSdMember_lbl" xmlns="http://www.xbrl.org/2003/linkbase" />
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="iret_OakwoodEstatesSiouxFallsSdMember_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase">Oakwood Estates - Sioux Falls, SD for development, expansion and renovation projects underway or recently completed.</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="iret_OakwoodEstatesSiouxFallsSdMember_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase">Oakwood Estates Sioux Falls Sd [Member]</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="iret_OakwoodEstatesSiouxFallsSdMember_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase">Oakwood Estates - Sioux Falls, SD [Member]</label>
    <loc xlink:type="locator" xlink:href="iret-20170430.xsd#iret_OlympicVillageBillingsMtMember" xlink:label="iret_OlympicVillageBillingsMtMember" xmlns="http://www.xbrl.org/2003/linkbase" />
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="iret_OlympicVillageBillingsMtMember" xlink:to="iret_OlympicVillageBillingsMtMember_lbl" xmlns="http://www.xbrl.org/2003/linkbase" />
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="iret_OlympicVillageBillingsMtMember_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase">Olympic Village - Billings, MT for development, expansion and renovation projects underway or recently completed.</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="iret_OlympicVillageBillingsMtMember_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase">Olympic Village Billings Mt [Member]</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="iret_OlympicVillageBillingsMtMember_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase">Olympic Village - Billings, MT [Member]</label>
    <loc xlink:type="locator" xlink:href="iret-20170430.xsd#iret_OlympikVillageRochesterMnMember" xlink:label="iret_OlympikVillageRochesterMnMember" xmlns="http://www.xbrl.org/2003/linkbase" />
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="iret_OlympikVillageRochesterMnMember" xlink:to="iret_OlympikVillageRochesterMnMember_lbl" xmlns="http://www.xbrl.org/2003/linkbase" />
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="iret_OlympikVillageRochesterMnMember_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase">Olympik Village - Rochester, MN for development, expansion and renovation projects underway or recently completed.</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="iret_OlympikVillageRochesterMnMember_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase">Olympik Village Rochester Mn [Member]</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="iret_OlympikVillageRochesterMnMember_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase">Olympik Village - Rochester, MN [Member]</label>
    <loc xlink:type="locator" xlink:href="iret-20170430.xsd#iret_OxbowParkSiouxFallsSdMember" xlink:label="iret_OxbowParkSiouxFallsSdMember" xmlns="http://www.xbrl.org/2003/linkbase" />
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="iret_OxbowParkSiouxFallsSdMember" xlink:to="iret_OxbowParkSiouxFallsSdMember_lbl" xmlns="http://www.xbrl.org/2003/linkbase" />
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="iret_OxbowParkSiouxFallsSdMember_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase">Oxbow Park - Sioux Falls, SD for development, expansion and renovation projects underway or recently completed.</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="iret_OxbowParkSiouxFallsSdMember_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase">Oxbow Park Sioux Falls Sd [Member]</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="iret_OxbowParkSiouxFallsSdMember_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase">Oxbow Park - Sioux Falls, SD [Member]</label>
    <loc xlink:type="locator" xlink:href="iret-20170430.xsd#iret_ParkMeadowsWaiteParkMnMember" xlink:label="iret_ParkMeadowsWaiteParkMnMember" xmlns="http://www.xbrl.org/2003/linkbase" />
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="iret_ParkMeadowsWaiteParkMnMember" xlink:to="iret_ParkMeadowsWaiteParkMnMember_lbl" xmlns="http://www.xbrl.org/2003/linkbase" />
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="iret_ParkMeadowsWaiteParkMnMember_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase">Park Meadows - Waite Park, MN for development, expansion and renovation projects underway or recently completed.</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="iret_ParkMeadowsWaiteParkMnMember_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase">Park Meadows Waite Park Mn [Member]</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="iret_ParkMeadowsWaiteParkMnMember_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase">Park Meadows - Waite Park, MN [Member]</label>
    <loc xlink:type="locator" xlink:href="iret-20170430.xsd#iret_PebbleSpringsBismarckNdMember" xlink:label="iret_PebbleSpringsBismarckNdMember" xmlns="http://www.xbrl.org/2003/linkbase" />
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="iret_PebbleSpringsBismarckNdMember" xlink:to="iret_PebbleSpringsBismarckNdMember_lbl" xmlns="http://www.xbrl.org/2003/linkbase" />
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="iret_PebbleSpringsBismarckNdMember_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase">Pebble Springs - Bismarck, ND for development, expansion and renovation projects underway or recently completed.</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="iret_PebbleSpringsBismarckNdMember_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase">Pebble Springs Bismarck Nd [Member]</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="iret_PebbleSpringsBismarckNdMember_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase">Pebble Springs - Bismarck, ND [Member]</label>
    <loc xlink:type="locator" xlink:href="iret-20170430.xsd#iret_PinehurstBillingsMtMember" xlink:label="iret_PinehurstBillingsMtMember" xmlns="http://www.xbrl.org/2003/linkbase" />
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="iret_PinehurstBillingsMtMember" xlink:to="iret_PinehurstBillingsMtMember_lbl" xmlns="http://www.xbrl.org/2003/linkbase" />
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="iret_PinehurstBillingsMtMember_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase">Pinehurst - Billings, MT for development, expansion and renovation projects underway or recently completed.</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="iret_PinehurstBillingsMtMember_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase">Pinehurst Billings Mt [Member]</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="iret_PinehurstBillingsMtMember_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase">Pinehurst - Billings, MT [Member]</label>
    <loc xlink:type="locator" xlink:href="iret-20170430.xsd#iret_PlazaMinotNdMember" xlink:label="iret_PlazaMinotNdMember" xmlns="http://www.xbrl.org/2003/linkbase" />
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="iret_PlazaMinotNdMember" xlink:to="iret_PlazaMinotNdMember_lbl" xmlns="http://www.xbrl.org/2003/linkbase" />
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="iret_PlazaMinotNdMember_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase">Plaza - Minot, ND for development, expansion and renovation projects underway or recently completed.</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="iret_PlazaMinotNdMember_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase">Plaza Minot Nd [Member]</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="iret_PlazaMinotNdMember_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase">Plaza - Minot, ND [Member]</label>
    <loc xlink:type="locator" xlink:href="iret-20170430.xsd#iret_PointeWestRapidCitySdMember" xlink:label="iret_PointeWestRapidCitySdMember" xmlns="http://www.xbrl.org/2003/linkbase" />
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="iret_PointeWestRapidCitySdMember" xlink:to="iret_PointeWestRapidCitySdMember_lbl" xmlns="http://www.xbrl.org/2003/linkbase" />
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="iret_PointeWestRapidCitySdMember_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase">Pointe West - Rapid City, SD for development, expansion and renovation projects underway or recently completed.</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="iret_PointeWestRapidCitySdMember_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase">Pointe West Rapid City Sd [Member]</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="iret_PointeWestRapidCitySdMember_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase">Pointe West - Rapid City, SD [Member]</label>
    <loc xlink:type="locator" xlink:href="iret-20170430.xsd#iret_PondsAtHeritagePlaceSartellMnMember" xlink:label="iret_PondsAtHeritagePlaceSartellMnMember" xmlns="http://www.xbrl.org/2003/linkbase" />
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="iret_PondsAtHeritagePlaceSartellMnMember" xlink:to="iret_PondsAtHeritagePlaceSartellMnMember_lbl" xmlns="http://www.xbrl.org/2003/linkbase" />
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="iret_PondsAtHeritagePlaceSartellMnMember_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase">Ponds at Heritage Place - Sartell, MN for development, expansion and renovation projects underway or recently completed.</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="iret_PondsAtHeritagePlaceSartellMnMember_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase">Ponds At Heritage Place Sartell Mn [Member]</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="iret_PondsAtHeritagePlaceSartellMnMember_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase">Ponds at Heritage Place - Sartell, MN [Member]</label>
    <loc xlink:type="locator" xlink:href="iret-20170430.xsd#iret_PrairieWindsSiouxFallsSdMember" xlink:label="iret_PrairieWindsSiouxFallsSdMember" xmlns="http://www.xbrl.org/2003/linkbase" />
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="iret_PrairieWindsSiouxFallsSdMember" xlink:to="iret_PrairieWindsSiouxFallsSdMember_lbl" xmlns="http://www.xbrl.org/2003/linkbase" />
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="iret_PrairieWindsSiouxFallsSdMember_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase">Prairie Winds - Sioux Falls, SD for development, expansion and renovation projects underway or recently completed.</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="iret_PrairieWindsSiouxFallsSdMember_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase">Prairie Winds Sioux Falls Sd [Member]</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="iret_PrairieWindsSiouxFallsSdMember_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase">Prairie Winds - Sioux Falls, SD [Member]</label>
    <loc xlink:type="locator" xlink:href="iret-20170430.xsd#iret_QuarryRidgeRochesterMnMember" xlink:label="iret_QuarryRidgeRochesterMnMember" xmlns="http://www.xbrl.org/2003/linkbase" />
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="iret_QuarryRidgeRochesterMnMember" xlink:to="iret_QuarryRidgeRochesterMnMember_lbl" xmlns="http://www.xbrl.org/2003/linkbase" />
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="iret_QuarryRidgeRochesterMnMember_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase">Quarry Ridge - Rochester, MN for development, expansion and renovation projects underway or recently completed.</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="iret_QuarryRidgeRochesterMnMember_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase">Quarry Ridge Rochester Mn [Member]</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="iret_QuarryRidgeRochesterMnMember_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase">Quarry Ridge - Rochester, MN [Member]</label>
    <loc xlink:type="locator" xlink:href="iret-20170430.xsd#iret_Red20MinneapolisMnMember" xlink:label="iret_Red20MinneapolisMnMember" xmlns="http://www.xbrl.org/2003/linkbase" />
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="iret_Red20MinneapolisMnMember" xlink:to="iret_Red20MinneapolisMnMember_lbl" xmlns="http://www.xbrl.org/2003/linkbase" />
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="iret_Red20MinneapolisMnMember_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase">RED 20 - Minneapolis, MN for development, expansion and renovation projects underway or recently completed.</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="iret_Red20MinneapolisMnMember_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase">Red20 Minneapolis Mn [Member]</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="iret_Red20MinneapolisMnMember_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase">RED 20 - Minneapolis, MN [Member]</label>
    <loc xlink:type="locator" xlink:href="iret-20170430.xsd#iret_RegencyParkEstatesStCloudMnMember" xlink:label="iret_RegencyParkEstatesStCloudMnMember" xmlns="http://www.xbrl.org/2003/linkbase" />
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="iret_RegencyParkEstatesStCloudMnMember" xlink:to="iret_RegencyParkEstatesStCloudMnMember_lbl" xmlns="http://www.xbrl.org/2003/linkbase" />
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="iret_RegencyParkEstatesStCloudMnMember_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase">Regency Park Estates - St. Cloud, MN property acquired or disposed.</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="iret_RegencyParkEstatesStCloudMnMember_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase">Regency Park Estates St Cloud Mn [Member]</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="iret_RegencyParkEstatesStCloudMnMember_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase">Regency Park Estates - St. Cloud, MN [Member]</label>
    <loc xlink:type="locator" xlink:href="iret-20170430.xsd#iret_RidgeOaksSiouxCityIaMember" xlink:label="iret_RidgeOaksSiouxCityIaMember" xmlns="http://www.xbrl.org/2003/linkbase" />
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="iret_RidgeOaksSiouxCityIaMember" xlink:to="iret_RidgeOaksSiouxCityIaMember_lbl" xmlns="http://www.xbrl.org/2003/linkbase" />
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="iret_RidgeOaksSiouxCityIaMember_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase">Ridge Oaks - Sioux City, IA for development, expansion and renovation projects underway or recently completed.</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="iret_RidgeOaksSiouxCityIaMember_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase">Ridge Oaks Sioux City Ia [Member]</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="iret_RidgeOaksSiouxCityIaMember_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase">Ridge Oaks - Sioux City, IA [Member]</label>
    <loc xlink:type="locator" xlink:href="iret-20170430.xsd#iret_RimrockWestBillingsMtMember" xlink:label="iret_RimrockWestBillingsMtMember" xmlns="http://www.xbrl.org/2003/linkbase" />
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="iret_RimrockWestBillingsMtMember" xlink:to="iret_RimrockWestBillingsMtMember_lbl" xmlns="http://www.xbrl.org/2003/linkbase" />
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="iret_RimrockWestBillingsMtMember_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase">Rimrock West - Billings, MT for development, expansion and renovation projects underway or recently completed.</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="iret_RimrockWestBillingsMtMember_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase">Rimrock West Billings Mt [Member]</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="iret_RimrockWestBillingsMtMember_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase">Rimrock West - Billings, MT [Member]</label>
    <loc xlink:type="locator" xlink:href="iret-20170430.xsd#iret_RiverRidgeBismarckNdMember" xlink:label="iret_RiverRidgeBismarckNdMember" xmlns="http://www.xbrl.org/2003/linkbase" />
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="iret_RiverRidgeBismarckNdMember" xlink:to="iret_RiverRidgeBismarckNdMember_lbl" xmlns="http://www.xbrl.org/2003/linkbase" />
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="iret_RiverRidgeBismarckNdMember_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase">River Ridge - Bismarck, ND for development, expansion and renovation projects underway or recently completed.</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="iret_RiverRidgeBismarckNdMember_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase">River Ridge Bismarck Nd [Member]</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="iret_RiverRidgeBismarckNdMember_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase">River Ridge - Bismarck, ND [Member]</label>
    <loc xlink:type="locator" xlink:href="iret-20170430.xsd#iret_RockyMeadowsBillingsMtMember" xlink:label="iret_RockyMeadowsBillingsMtMember" xmlns="http://www.xbrl.org/2003/linkbase" />
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="iret_RockyMeadowsBillingsMtMember" xlink:to="iret_RockyMeadowsBillingsMtMember_lbl" xmlns="http://www.xbrl.org/2003/linkbase" />
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="iret_RockyMeadowsBillingsMtMember_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase">Rocky Meadows - Billings, MT for development, expansion and renovation projects underway or recently completed.</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="iret_RockyMeadowsBillingsMtMember_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase">Rocky Meadows Billings Mt [Member]</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="iret_RockyMeadowsBillingsMtMember_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase">Rocky Meadows - Billings, MT [Member]</label>
    <loc xlink:type="locator" xlink:href="iret-20170430.xsd#iret_RumRiverIsantiMnMember" xlink:label="iret_RumRiverIsantiMnMember" xmlns="http://www.xbrl.org/2003/linkbase" />
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="iret_RumRiverIsantiMnMember" xlink:to="iret_RumRiverIsantiMnMember_lbl" xmlns="http://www.xbrl.org/2003/linkbase" />
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="iret_RumRiverIsantiMnMember_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase">Rum River - Isanti, MN for development, expansion and renovation projects underway or recently completed.</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="iret_RumRiverIsantiMnMember_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase">Rum River Isanti Mn [Member]</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="iret_RumRiverIsantiMnMember_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase">Rum River - Isanti, MN [Member]</label>
    <loc xlink:type="locator" xlink:href="iret-20170430.xsd#iret_SherwoodTopekaKsMember" xlink:label="iret_SherwoodTopekaKsMember" xmlns="http://www.xbrl.org/2003/linkbase" />
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="iret_SherwoodTopekaKsMember" xlink:to="iret_SherwoodTopekaKsMember_lbl" xmlns="http://www.xbrl.org/2003/linkbase" />
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="iret_SherwoodTopekaKsMember_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase">Sherwood - Topeka, KS for development, expansion and renovation projects underway or recently completed.</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="iret_SherwoodTopekaKsMember_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase">Sherwood Topeka Ks [Member]</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="iret_SherwoodTopekaKsMember_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase">Sherwood - Topeka, KS [Member]</label>
    <loc xlink:type="locator" xlink:href="iret-20170430.xsd#iret_SierraVistaSiouxFallsSdMember" xlink:label="iret_SierraVistaSiouxFallsSdMember" xmlns="http://www.xbrl.org/2003/linkbase" />
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="iret_SierraVistaSiouxFallsSdMember" xlink:to="iret_SierraVistaSiouxFallsSdMember_lbl" xmlns="http://www.xbrl.org/2003/linkbase" />
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="iret_SierraVistaSiouxFallsSdMember_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase">Sierra Vista - Sioux Falls, SD property acquired or disposed.</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="iret_SierraVistaSiouxFallsSdMember_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase">Sierra Vista Sioux Falls Sd [Member]</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="iret_SierraVistaSiouxFallsSdMember_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase">Sierra Vista - Sioux Falls, SD [Member]</label>
    <loc xlink:type="locator" xlink:href="iret-20170430.xsd#iret_SilverSpringsRapidCitySdMember" xlink:label="iret_SilverSpringsRapidCitySdMember" xmlns="http://www.xbrl.org/2003/linkbase" />
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="iret_SilverSpringsRapidCitySdMember" xlink:to="iret_SilverSpringsRapidCitySdMember_lbl" xmlns="http://www.xbrl.org/2003/linkbase" />
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="iret_SilverSpringsRapidCitySdMember_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase">Silver Springs - Rapid City, SD</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="iret_SilverSpringsRapidCitySdMember_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase">Silver Springs Rapid City Sd [Member]</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="iret_SilverSpringsRapidCitySdMember_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase">Silver Springs - Rapid City, SD [Member]</label>
    <loc xlink:type="locator" xlink:href="iret-20170430.xsd#iret_SouthPointeMinotNdMember" xlink:label="iret_SouthPointeMinotNdMember" xmlns="http://www.xbrl.org/2003/linkbase" />
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="iret_SouthPointeMinotNdMember" xlink:to="iret_SouthPointeMinotNdMember_lbl" xmlns="http://www.xbrl.org/2003/linkbase" />
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="iret_SouthPointeMinotNdMember_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase">South Pointe - Minot, ND for development, expansion and renovation projects underway or recently completed.</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="iret_SouthPointeMinotNdMember_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase">South Pointe Minot Nd [Member]</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="iret_SouthPointeMinotNdMember_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase">South Pointe - Minot, ND [Member]</label>
    <loc xlink:type="locator" xlink:href="iret-20170430.xsd#iret_SouthpointGrandForksNdMember" xlink:label="iret_SouthpointGrandForksNdMember" xmlns="http://www.xbrl.org/2003/linkbase" />
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="iret_SouthpointGrandForksNdMember" xlink:to="iret_SouthpointGrandForksNdMember_lbl" xmlns="http://www.xbrl.org/2003/linkbase" />
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="iret_SouthpointGrandForksNdMember_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase">Southpoint - Grand Forks, ND for development, expansion and renovation projects underway or recently completed.</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="iret_SouthpointGrandForksNdMember_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase">Southpoint Grand Forks Nd [Member]</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="iret_SouthpointGrandForksNdMember_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase">Southpoint - Grand Forks, ND [Member]</label>
    <loc xlink:type="locator" xlink:href="iret-20170430.xsd#iret_SouthwindGrandForksNdMember" xlink:label="iret_SouthwindGrandForksNdMember" xmlns="http://www.xbrl.org/2003/linkbase" />
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="iret_SouthwindGrandForksNdMember" xlink:to="iret_SouthwindGrandForksNdMember_lbl" xmlns="http://www.xbrl.org/2003/linkbase" />
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="iret_SouthwindGrandForksNdMember_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase">Southwind - Grand Forks, ND for development, expansion and renovation projects underway or recently completed.</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="iret_SouthwindGrandForksNdMember_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase">Southwind Grand Forks Nd [Member]</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="iret_SouthwindGrandForksNdMember_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase">Southwind - Grand Forks, ND [Member]</label>
    <loc xlink:type="locator" xlink:href="iret-20170430.xsd#iret_SunsetTrailRochesterMnMember" xlink:label="iret_SunsetTrailRochesterMnMember" xmlns="http://www.xbrl.org/2003/linkbase" />
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="iret_SunsetTrailRochesterMnMember" xlink:to="iret_SunsetTrailRochesterMnMember_lbl" xmlns="http://www.xbrl.org/2003/linkbase" />
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="iret_SunsetTrailRochesterMnMember_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase">Sunset Trail - Rochester, MN for development, expansion and renovation projects underway or recently completed.</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="iret_SunsetTrailRochesterMnMember_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase">Sunset Trail Rochester Mn [Member]</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="iret_SunsetTrailRochesterMnMember_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase">Sunset Trail - Rochester, MN [Member]</label>
    <loc xlink:type="locator" xlink:href="iret-20170430.xsd#iret_ThomasbrookLincolnNeMember" xlink:label="iret_ThomasbrookLincolnNeMember" xmlns="http://www.xbrl.org/2003/linkbase" />
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="iret_ThomasbrookLincolnNeMember" xlink:to="iret_ThomasbrookLincolnNeMember_lbl" xmlns="http://www.xbrl.org/2003/linkbase" />
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="iret_ThomasbrookLincolnNeMember_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase">Thomasbrook - Lincoln, NE for development, expansion and renovation projects underway or recently completed.</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="iret_ThomasbrookLincolnNeMember_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase">Thomasbrook Lincoln Ne [Member]</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="iret_ThomasbrookLincolnNeMember_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase">Thomasbrook - Lincoln, NE [Member]</label>
    <loc xlink:type="locator" xlink:href="iret-20170430.xsd#iret_ValleyParkGrandForksNdMember" xlink:label="iret_ValleyParkGrandForksNdMember" xmlns="http://www.xbrl.org/2003/linkbase" />
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="iret_ValleyParkGrandForksNdMember" xlink:to="iret_ValleyParkGrandForksNdMember_lbl" xmlns="http://www.xbrl.org/2003/linkbase" />
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="iret_ValleyParkGrandForksNdMember_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase">Valley Park - Grand Forks, ND for development, expansion and renovation projects underway or recently completed.</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="iret_ValleyParkGrandForksNdMember_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase">Valley Park Grand Forks Nd [Member]</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="iret_ValleyParkGrandForksNdMember_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase">Valley Park - Grand Forks, ND [Member]</label>
    <loc xlink:type="locator" xlink:href="iret-20170430.xsd#iret_VillaWestTopekaKsMember" xlink:label="iret_VillaWestTopekaKsMember" xmlns="http://www.xbrl.org/2003/linkbase" />
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="iret_VillaWestTopekaKsMember" xlink:to="iret_VillaWestTopekaKsMember_lbl" xmlns="http://www.xbrl.org/2003/linkbase" />
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="iret_VillaWestTopekaKsMember_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase">Villa West - Topeka, KS for development, expansion and renovation projects underway or recently completed.</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="iret_VillaWestTopekaKsMember_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase">Villa West Topeka Ks [Member]</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="iret_VillaWestTopekaKsMember_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase">Villa West - Topeka, KS [Member]</label>
    <loc xlink:type="locator" xlink:href="iret-20170430.xsd#iret_VillageGreenRochesterMnMember" xlink:label="iret_VillageGreenRochesterMnMember" xmlns="http://www.xbrl.org/2003/linkbase" />
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="iret_VillageGreenRochesterMnMember" xlink:to="iret_VillageGreenRochesterMnMember_lbl" xmlns="http://www.xbrl.org/2003/linkbase" />
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="iret_VillageGreenRochesterMnMember_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase">Village Green - Rochester, MN for development, expansion and renovation projects underway or recently completed.</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="iret_VillageGreenRochesterMnMember_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase">Village Green Rochester Mn [Member]</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="iret_VillageGreenRochesterMnMember_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase">Village Green - Rochester, MN [Member]</label>
    <loc xlink:type="locator" xlink:href="iret-20170430.xsd#iret_WestStonehillWaiteParkMnMember" xlink:label="iret_WestStonehillWaiteParkMnMember" xmlns="http://www.xbrl.org/2003/linkbase" />
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="iret_WestStonehillWaiteParkMnMember" xlink:to="iret_WestStonehillWaiteParkMnMember_lbl" xmlns="http://www.xbrl.org/2003/linkbase" />
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="iret_WestStonehillWaiteParkMnMember_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase">West Stonehill - Waite Park, MN for development, expansion and renovation projects underway or recently completed.</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="iret_WestStonehillWaiteParkMnMember_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase">West Stonehill Waite Park Mn [Member]</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="iret_WestStonehillWaiteParkMnMember_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase">West Stonehill - Waite Park, MN [Member]</label>
    <loc xlink:type="locator" xlink:href="iret-20170430.xsd#iret_WestwoodParkBismarckNdMember" xlink:label="iret_WestwoodParkBismarckNdMember" xmlns="http://www.xbrl.org/2003/linkbase" />
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="iret_WestwoodParkBismarckNdMember" xlink:to="iret_WestwoodParkBismarckNdMember_lbl" xmlns="http://www.xbrl.org/2003/linkbase" />
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="iret_WestwoodParkBismarckNdMember_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase">Westwood Park - Bismarck, ND for development, expansion and renovation projects underway or recently completed.</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="iret_WestwoodParkBismarckNdMember_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase">Westwood Park Bismarck Nd [Member]</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="iret_WestwoodParkBismarckNdMember_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase">Westwood Park - Bismarck, ND [Member]</label>
    <loc xlink:type="locator" xlink:href="iret-20170430.xsd#iret_WhisperingRidgeOmahaNeMember" xlink:label="iret_WhisperingRidgeOmahaNeMember" xmlns="http://www.xbrl.org/2003/linkbase" />
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="iret_WhisperingRidgeOmahaNeMember" xlink:to="iret_WhisperingRidgeOmahaNeMember_lbl" xmlns="http://www.xbrl.org/2003/linkbase" />
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="iret_WhisperingRidgeOmahaNeMember_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase">Whispering Ridge - Omaha, NE for development, expansion and renovation projects underway or recently completed.</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="iret_WhisperingRidgeOmahaNeMember_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase">Whispering Ridge Omaha Ne [Member]</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="iret_WhisperingRidgeOmahaNeMember_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase">Whispering Ridge - Omaha, NE [Member]</label>
    <loc xlink:type="locator" xlink:href="iret-20170430.xsd#iret_WillistonGardenWillistonNdMember" xlink:label="iret_WillistonGardenWillistonNdMember" xmlns="http://www.xbrl.org/2003/linkbase" />
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="iret_WillistonGardenWillistonNdMember" xlink:to="iret_WillistonGardenWillistonNdMember_lbl" xmlns="http://www.xbrl.org/2003/linkbase" />
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="iret_WillistonGardenWillistonNdMember_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase">Williston Garden - Williston, ND for development, expansion and renovation projects underway or recently completed.</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="iret_WillistonGardenWillistonNdMember_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase">Williston Garden Williston Nd [Member]</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="iret_WillistonGardenWillistonNdMember_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase">Williston Garden - Williston, ND [Member]</label>
    <loc xlink:type="locator" xlink:href="iret-20170430.xsd#iret_WinchesterRochesterMnMember" xlink:label="iret_WinchesterRochesterMnMember" xmlns="http://www.xbrl.org/2003/linkbase" />
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="iret_WinchesterRochesterMnMember" xlink:to="iret_WinchesterRochesterMnMember_lbl" xmlns="http://www.xbrl.org/2003/linkbase" />
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="iret_WinchesterRochesterMnMember_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase">Winchester - Rochester, MN for development, expansion and renovation projects underway or recently completed.</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="iret_WinchesterRochesterMnMember_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase">Winchester Rochester Mn [Member]</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="iret_WinchesterRochesterMnMember_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase">Winchester - Rochester, MN [Member]</label>
    <loc xlink:type="locator" xlink:href="iret-20170430.xsd#iret_WoodridgeRochesterMnMember" xlink:label="iret_WoodridgeRochesterMnMember" xmlns="http://www.xbrl.org/2003/linkbase" />
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="iret_WoodridgeRochesterMnMember" xlink:to="iret_WoodridgeRochesterMnMember_lbl" xmlns="http://www.xbrl.org/2003/linkbase" />
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="iret_WoodridgeRochesterMnMember_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase">Woodridge - Rochester, MN for development, expansion and renovation projects underway or recently completed.</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="iret_WoodridgeRochesterMnMember_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase">Woodridge Rochester Mn [Member]</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="iret_WoodridgeRochesterMnMember_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase">Woodridge - Rochester, MN [Member]</label>
    <loc xlink:type="locator" xlink:href="iret-20170430.xsd#iret_TwoEightZeroZeroMedicalBuildingMinneapolisMnMember" xlink:label="iret_TwoEightZeroZeroMedicalBuildingMinneapolisMnMember" xmlns="http://www.xbrl.org/2003/linkbase" />
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="iret_TwoEightZeroZeroMedicalBuildingMinneapolisMnMember" xlink:to="iret_TwoEightZeroZeroMedicalBuildingMinneapolisMnMember_lbl" xmlns="http://www.xbrl.org/2003/linkbase" />
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="iret_TwoEightZeroZeroMedicalBuildingMinneapolisMnMember_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase">2800 Medical Building - Minneapolis, MN for development, expansion and renovation projects underway or recently completed.</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="iret_TwoEightZeroZeroMedicalBuildingMinneapolisMnMember_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase">Two Eight Zero Zero Medical Building Minneapolis Mn [Member]</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="iret_TwoEightZeroZeroMedicalBuildingMinneapolisMnMember_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase">2800 Medical Building - Minneapolis, MN [Member]</label>
    <loc xlink:type="locator" xlink:href="iret-20170430.xsd#iret_TwoEightTwoEightChicagoAvenueMinneapolisMnMember" xlink:label="iret_TwoEightTwoEightChicagoAvenueMinneapolisMnMember" xmlns="http://www.xbrl.org/2003/linkbase" />
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="iret_TwoEightTwoEightChicagoAvenueMinneapolisMnMember" xlink:to="iret_TwoEightTwoEightChicagoAvenueMinneapolisMnMember_lbl" xmlns="http://www.xbrl.org/2003/linkbase" />
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="iret_TwoEightTwoEightChicagoAvenueMinneapolisMnMember_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase">2828 Chicago Avenue - Minneapolis, MN for development, expansion and renovation projects underway or recently completed.</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="iret_TwoEightTwoEightChicagoAvenueMinneapolisMnMember_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase">Two Eight Two Eight Chicago Avenue Minneapolis Mn [Member]</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="iret_TwoEightTwoEightChicagoAvenueMinneapolisMnMember_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase">2828 Chicago Avenue - Minneapolis, MN [Member]</label>
    <loc xlink:type="locator" xlink:href="iret-20170430.xsd#iret_AirportMedicalBloomingtonMnMember" xlink:label="iret_AirportMedicalBloomingtonMnMember" xmlns="http://www.xbrl.org/2003/linkbase" />
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="iret_AirportMedicalBloomingtonMnMember" xlink:to="iret_AirportMedicalBloomingtonMnMember_lbl" xmlns="http://www.xbrl.org/2003/linkbase" />
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="iret_AirportMedicalBloomingtonMnMember_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase">Airport Medical - Bloomington, MN for development, expansion and renovation projects underway or recently completed.</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="iret_AirportMedicalBloomingtonMnMember_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase">Airport Medical Bloomington Mn [Member]</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="iret_AirportMedicalBloomingtonMnMember_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase">Airport Medical - Bloomington, MN [Member]</label>
    <loc xlink:type="locator" xlink:href="iret-20170430.xsd#iret_Billings2300GrantRoadBillingsMtMember" xlink:label="iret_Billings2300GrantRoadBillingsMtMember" xmlns="http://www.xbrl.org/2003/linkbase" />
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="iret_Billings2300GrantRoadBillingsMtMember" xlink:to="iret_Billings2300GrantRoadBillingsMtMember_lbl" xmlns="http://www.xbrl.org/2003/linkbase" />
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="iret_Billings2300GrantRoadBillingsMtMember_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase">Billings 2300 Grant Road - Billings, MT property acquired or disposed.</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="iret_Billings2300GrantRoadBillingsMtMember_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase">Billings2300 Grant Road Billings Mt [Member]</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="iret_Billings2300GrantRoadBillingsMtMember_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase">Billings 2300 Grant Road - Billings, MT [Member]</label>
    <loc xlink:type="locator" xlink:href="iret-20170430.xsd#iret_Burnsville303NicolletMedicalRidgeviewBurnsvilleMnMember" xlink:label="iret_Burnsville303NicolletMedicalRidgeviewBurnsvilleMnMember" xmlns="http://www.xbrl.org/2003/linkbase" />
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="iret_Burnsville303NicolletMedicalRidgeviewBurnsvilleMnMember" xlink:to="iret_Burnsville303NicolletMedicalRidgeviewBurnsvilleMnMember_lbl" xmlns="http://www.xbrl.org/2003/linkbase" />
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="iret_Burnsville303NicolletMedicalRidgeviewBurnsvilleMnMember_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase">Burnsville 303 Nicollet Medical (Ridgeview) - Burnsville, MN for development, expansion and renovation projects underway or recently completed.</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="iret_Burnsville303NicolletMedicalRidgeviewBurnsvilleMnMember_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase">Burnsville303 Nicollet Medical Ridgeview Burnsville Mn [Member]</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="iret_Burnsville303NicolletMedicalRidgeviewBurnsvilleMnMember_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase">Burnsville 303 Nicollet Medical (Ridgeview) - Burnsville, MN [Member]</label>
    <loc xlink:type="locator" xlink:href="iret-20170430.xsd#iret_Burnsville305NicolletMedicalRidgeviewSouthBurnsvilleMnMember" xlink:label="iret_Burnsville305NicolletMedicalRidgeviewSouthBurnsvilleMnMember" xmlns="http://www.xbrl.org/2003/linkbase" />
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="iret_Burnsville305NicolletMedicalRidgeviewSouthBurnsvilleMnMember" xlink:to="iret_Burnsville305NicolletMedicalRidgeviewSouthBurnsvilleMnMember_lbl" xmlns="http://www.xbrl.org/2003/linkbase" />
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="iret_Burnsville305NicolletMedicalRidgeviewSouthBurnsvilleMnMember_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase">Burnsville 305 Nicollet Medical (Ridgeview South) - Burnsville, MN for development, expansion and renovation projects underway or recently completed.</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="iret_Burnsville305NicolletMedicalRidgeviewSouthBurnsvilleMnMember_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase">Burnsville305 Nicollet Medical Ridgeview South Burnsville Mn [Member]</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="iret_Burnsville305NicolletMedicalRidgeviewSouthBurnsvilleMnMember_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase">Burnsville 305 Nicollet Medical (Ridgeview South) - Burnsville, MN [Member]</label>
    <loc xlink:type="locator" xlink:href="iret-20170430.xsd#iret_DenfeldClinicDuluthMnMember" xlink:label="iret_DenfeldClinicDuluthMnMember" xmlns="http://www.xbrl.org/2003/linkbase" />
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="iret_DenfeldClinicDuluthMnMember" xlink:to="iret_DenfeldClinicDuluthMnMember_lbl" xmlns="http://www.xbrl.org/2003/linkbase" />
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="iret_DenfeldClinicDuluthMnMember_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase">Denfeld Clinic - Duluth, MN for development, expansion and renovation projects underway or recently completed.</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="iret_DenfeldClinicDuluthMnMember_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase">Denfeld Clinic Duluth Mn [Member]</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="iret_DenfeldClinicDuluthMnMember_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase">Denfeld Clinic - Duluth, MN [Member]</label>
    <loc xlink:type="locator" xlink:href="iret-20170430.xsd#iret_Eagan1440DuckwoodMedicalEaganMnMember" xlink:label="iret_Eagan1440DuckwoodMedicalEaganMnMember" xmlns="http://www.xbrl.org/2003/linkbase" />
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="iret_Eagan1440DuckwoodMedicalEaganMnMember" xlink:to="iret_Eagan1440DuckwoodMedicalEaganMnMember_lbl" xmlns="http://www.xbrl.org/2003/linkbase" />
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="iret_Eagan1440DuckwoodMedicalEaganMnMember_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase">Eagan 1440 Duckwood Medical - Eagan, MN for development, expansion and renovation projects underway or recently completed.</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="iret_Eagan1440DuckwoodMedicalEaganMnMember_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase">Eagan1440 Duckwood Medical Eagan Mn [Member]</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="iret_Eagan1440DuckwoodMedicalEaganMnMember_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase">Eagan 1440 Duckwood Medical - Eagan, MN [Member]</label>
    <loc xlink:type="locator" xlink:href="iret-20170430.xsd#iret_Edina6363FranceMedicalEdinaMnMember" xlink:label="iret_Edina6363FranceMedicalEdinaMnMember" xmlns="http://www.xbrl.org/2003/linkbase" />
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="iret_Edina6363FranceMedicalEdinaMnMember" xlink:to="iret_Edina6363FranceMedicalEdinaMnMember_lbl" xmlns="http://www.xbrl.org/2003/linkbase" />
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="iret_Edina6363FranceMedicalEdinaMnMember_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase">Edina 6363 France Medical - Edina, MN for development, expansion and renovation projects underway or recently completed.</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="iret_Edina6363FranceMedicalEdinaMnMember_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase">Edina6363 France Medical Edina Mn [Member]</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="iret_Edina6363FranceMedicalEdinaMnMember_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase">Edina 6363 France Medical - Edina, MN [Member]</label>
    <loc xlink:type="locator" xlink:href="iret-20170430.xsd#iret_Edina6405FranceMedicalEdinaMnMember" xlink:label="iret_Edina6405FranceMedicalEdinaMnMember" xmlns="http://www.xbrl.org/2003/linkbase" />
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="iret_Edina6405FranceMedicalEdinaMnMember" xlink:to="iret_Edina6405FranceMedicalEdinaMnMember_lbl" xmlns="http://www.xbrl.org/2003/linkbase" />
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="iret_Edina6405FranceMedicalEdinaMnMember_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase">Edina 6405 France Medical-Edina, MN for development, expansion and renovation projects underway or recently completed.</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="iret_Edina6405FranceMedicalEdinaMnMember_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase">Edina6405 France Medical Edina Mn [Member]</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="iret_Edina6405FranceMedicalEdinaMnMember_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase">Edina 6405 France Medical - Edina, MN [Member]</label>
    <loc xlink:type="locator" xlink:href="iret-20170430.xsd#iret_Edina6517DrewAvenueEdinaMnMember" xlink:label="iret_Edina6517DrewAvenueEdinaMnMember" xmlns="http://www.xbrl.org/2003/linkbase" />
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="iret_Edina6517DrewAvenueEdinaMnMember" xlink:to="iret_Edina6517DrewAvenueEdinaMnMember_lbl" xmlns="http://www.xbrl.org/2003/linkbase" />
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="iret_Edina6517DrewAvenueEdinaMnMember_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase">Edina 6517 Drew Avenue - Edina, MN for development, expansion and renovation projects underway or recently completed.</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="iret_Edina6517DrewAvenueEdinaMnMember_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase">Edina6517 Drew Avenue Edina Mn [Member]</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="iret_Edina6517DrewAvenueEdinaMnMember_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase">Edina 6517 Drew Avenue - Edina, MN [Member]</label>
    <loc xlink:type="locator" xlink:href="iret-20170430.xsd#iret_Edina6525FranceSmcIiEdinaMnMember" xlink:label="iret_Edina6525FranceSmcIiEdinaMnMember" xmlns="http://www.xbrl.org/2003/linkbase" />
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="iret_Edina6525FranceSmcIiEdinaMnMember" xlink:to="iret_Edina6525FranceSmcIiEdinaMnMember_lbl" xmlns="http://www.xbrl.org/2003/linkbase" />
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="iret_Edina6525FranceSmcIiEdinaMnMember_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase">Edina 6525 France SMC II - Edina, MN for development, expansion and renovation projects underway or recently completed.</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="iret_Edina6525FranceSmcIiEdinaMnMember_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase">Edina6525 France Smc Ii Edina Mn [Member]</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="iret_Edina6525FranceSmcIiEdinaMnMember_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase">Edina 6525 France SMC II - Edina, MN [Member]</label>
    <loc xlink:type="locator" xlink:href="iret-20170430.xsd#iret_Edina6545FranceSmcIEdinaMnMember" xlink:label="iret_Edina6545FranceSmcIEdinaMnMember" xmlns="http://www.xbrl.org/2003/linkbase" />
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="iret_Edina6545FranceSmcIEdinaMnMember" xlink:to="iret_Edina6545FranceSmcIEdinaMnMember_lbl" xmlns="http://www.xbrl.org/2003/linkbase" />
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="iret_Edina6545FranceSmcIEdinaMnMember_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase">Edina 6545 France SMC I - Edina MN for development, expansion and renovation projects underway or recently completed.</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="iret_Edina6545FranceSmcIEdinaMnMember_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase">Edina6545 France Smc I Edina Mn [Member]</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="iret_Edina6545FranceSmcIEdinaMnMember_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase">Edina 6545 France SMC I - Edina MN [Member]</label>
    <loc xlink:type="locator" xlink:href="iret-20170430.xsd#iret_FreseniusDuluthMnMember" xlink:label="iret_FreseniusDuluthMnMember" xmlns="http://www.xbrl.org/2003/linkbase" />
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="iret_FreseniusDuluthMnMember" xlink:to="iret_FreseniusDuluthMnMember_lbl" xmlns="http://www.xbrl.org/2003/linkbase" />
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="iret_FreseniusDuluthMnMember_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase">Fresenius - Duluth, MN for development, expansion and renovation projects underway or recently completed.</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="iret_FreseniusDuluthMnMember_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase">Fresenius Duluth Mn [Member]</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="iret_FreseniusDuluthMnMember_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase">Fresenius - Duluth, MN [Member]</label>
    <loc xlink:type="locator" xlink:href="iret-20170430.xsd#iret_GardenViewStPaulMnMember" xlink:label="iret_GardenViewStPaulMnMember" xmlns="http://www.xbrl.org/2003/linkbase" />
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="iret_GardenViewStPaulMnMember" xlink:to="iret_GardenViewStPaulMnMember_lbl" xmlns="http://www.xbrl.org/2003/linkbase" />
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="iret_GardenViewStPaulMnMember_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase">Garden View - St. Paul, MN for development, expansion and renovation projects underway or recently completed.</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="iret_GardenViewStPaulMnMember_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase">Garden View St Paul Mn [Member]</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="iret_GardenViewStPaulMnMember_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase">Garden View - St. Paul, MN [Member]</label>
    <loc xlink:type="locator" xlink:href="iret-20170430.xsd#iret_GatewayClinicSandstoneMnMember" xlink:label="iret_GatewayClinicSandstoneMnMember" xmlns="http://www.xbrl.org/2003/linkbase" />
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="iret_GatewayClinicSandstoneMnMember" xlink:to="iret_GatewayClinicSandstoneMnMember_lbl" xmlns="http://www.xbrl.org/2003/linkbase" />
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="iret_GatewayClinicSandstoneMnMember_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase">Gateway Clinic - Sandstone, MN for development, expansion and renovation projects underway or recently completed.</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="iret_GatewayClinicSandstoneMnMember_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase">Gateway Clinic Sandstone Mn [Member]</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="iret_GatewayClinicSandstoneMnMember_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase">Gateway Clinic - Sandstone, MN [Member]</label>
    <loc xlink:type="locator" xlink:href="iret-20170430.xsd#iret_HighPointeHealthCampusLakeElmoMnMember" xlink:label="iret_HighPointeHealthCampusLakeElmoMnMember" xmlns="http://www.xbrl.org/2003/linkbase" />
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="iret_HighPointeHealthCampusLakeElmoMnMember" xlink:to="iret_HighPointeHealthCampusLakeElmoMnMember_lbl" xmlns="http://www.xbrl.org/2003/linkbase" />
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="iret_HighPointeHealthCampusLakeElmoMnMember_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase">High Pointe Health Campus - Lake Elmo, MN for development, expansion and renovation projects underway or recently completed.</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="iret_HighPointeHealthCampusLakeElmoMnMember_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase">High Pointe Health Campus Lake Elmo Mn [Member]</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="iret_HighPointeHealthCampusLakeElmoMnMember_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase">High Pointe Health Campus - Lake Elmo, MN [Member]</label>
    <loc xlink:type="locator" xlink:href="iret-20170430.xsd#iret_LakesideMedicalPlazaOmahaNeMember" xlink:label="iret_LakesideMedicalPlazaOmahaNeMember" xmlns="http://www.xbrl.org/2003/linkbase" />
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="iret_LakesideMedicalPlazaOmahaNeMember" xlink:to="iret_LakesideMedicalPlazaOmahaNeMember_lbl" xmlns="http://www.xbrl.org/2003/linkbase" />
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="iret_LakesideMedicalPlazaOmahaNeMember_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase">Lakeside Medical Plaza - Omaha, NE for development, expansion and renovation projects underway or recently completed.</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="iret_LakesideMedicalPlazaOmahaNeMember_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase">Lakeside Medical Plaza Omaha Ne [Member]</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="iret_LakesideMedicalPlazaOmahaNeMember_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase">Lakeside Medical Plaza - Omaha, NE [Member]</label>
    <loc xlink:type="locator" xlink:href="iret-20170430.xsd#iret_MarinerClinicSuperiorWiMember" xlink:label="iret_MarinerClinicSuperiorWiMember" xmlns="http://www.xbrl.org/2003/linkbase" />
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="iret_MarinerClinicSuperiorWiMember" xlink:to="iret_MarinerClinicSuperiorWiMember_lbl" xmlns="http://www.xbrl.org/2003/linkbase" />
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="iret_MarinerClinicSuperiorWiMember_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase">Mariner Clinic - Superior, WI for development, expansion and renovation projects underway or recently completed.</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="iret_MarinerClinicSuperiorWiMember_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase">Mariner Clinic Superior Wi [Member]</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="iret_MarinerClinicSuperiorWiMember_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase">Mariner Clinic - Superior, WI [Member]</label>
    <loc xlink:type="locator" xlink:href="iret-20170430.xsd#iret_Minneapolis70125ThAvenueMedicalMinneapolisMnMember" xlink:label="iret_Minneapolis70125ThAvenueMedicalMinneapolisMnMember" xmlns="http://www.xbrl.org/2003/linkbase" />
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="iret_Minneapolis70125ThAvenueMedicalMinneapolisMnMember" xlink:to="iret_Minneapolis70125ThAvenueMedicalMinneapolisMnMember_lbl" xmlns="http://www.xbrl.org/2003/linkbase" />
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="iret_Minneapolis70125ThAvenueMedicalMinneapolisMnMember_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase">Minneapolis 701 25th Avenue Medical - Minneapolis, MN for development, expansion and renovation projects underway or recently completed.</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="iret_Minneapolis70125ThAvenueMedicalMinneapolisMnMember_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase">Minneapolis70125 Th Avenue Medical Minneapolis Mn [Member]</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="iret_Minneapolis70125ThAvenueMedicalMinneapolisMnMember_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase">Minneapolis 701 25th Avenue Medical - Minneapolis, MN [Member]</label>
    <loc xlink:type="locator" xlink:href="iret-20170430.xsd#iret_Missoula3050GreatNorthernMissoulaMtMember" xlink:label="iret_Missoula3050GreatNorthernMissoulaMtMember" xmlns="http://www.xbrl.org/2003/linkbase" />
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="iret_Missoula3050GreatNorthernMissoulaMtMember" xlink:to="iret_Missoula3050GreatNorthernMissoulaMtMember_lbl" xmlns="http://www.xbrl.org/2003/linkbase" />
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="iret_Missoula3050GreatNorthernMissoulaMtMember_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase">Missoula 3050 Great Northern - Missoula, MT property acquired or disposed.</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="iret_Missoula3050GreatNorthernMissoulaMtMember_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase">Missoula3050 Great Northern Missoula Mt [Member]</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="iret_Missoula3050GreatNorthernMissoulaMtMember_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase">Missoula 3050 Great Northern - Missoula, MT [Member]</label>
    <loc xlink:type="locator" xlink:href="iret-20170430.xsd#iret_ParkDentalBrooklynCenterMnMember" xlink:label="iret_ParkDentalBrooklynCenterMnMember" xmlns="http://www.xbrl.org/2003/linkbase" />
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="iret_ParkDentalBrooklynCenterMnMember" xlink:to="iret_ParkDentalBrooklynCenterMnMember_lbl" xmlns="http://www.xbrl.org/2003/linkbase" />
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="iret_ParkDentalBrooklynCenterMnMember_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase">Park Dental - Brooklyn Center, MN for development, expansion and renovation projects underway or recently completed.</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="iret_ParkDentalBrooklynCenterMnMember_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase">Park Dental Brooklyn Center Mn [Member]</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="iret_ParkDentalBrooklynCenterMnMember_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase">Park Dental - Brooklyn Center, MN [Member]</label>
    <loc xlink:type="locator" xlink:href="iret-20170430.xsd#iret_PavilionIDuluthMnMember" xlink:label="iret_PavilionIDuluthMnMember" xmlns="http://www.xbrl.org/2003/linkbase" />
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="iret_PavilionIDuluthMnMember" xlink:to="iret_PavilionIDuluthMnMember_lbl" xmlns="http://www.xbrl.org/2003/linkbase" />
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="iret_PavilionIDuluthMnMember_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase">Pavilion I - Duluth, MN for development, expansion and renovation projects underway or recently completed.</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="iret_PavilionIDuluthMnMember_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase">Pavilion I Duluth Mn [Member]</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="iret_PavilionIDuluthMnMember_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase">Pavilion I - Duluth, MN [Member]</label>
    <loc xlink:type="locator" xlink:href="iret-20170430.xsd#iret_PavilionIiDuluthMnMember" xlink:label="iret_PavilionIiDuluthMnMember" xmlns="http://www.xbrl.org/2003/linkbase" />
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="iret_PavilionIiDuluthMnMember" xlink:to="iret_PavilionIiDuluthMnMember_lbl" xmlns="http://www.xbrl.org/2003/linkbase" />
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="iret_PavilionIiDuluthMnMember_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase">Pavilion II - Duluth, MN for development, expansion and renovation projects underway or recently completed.</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="iret_PavilionIiDuluthMnMember_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase">Pavilion Ii Duluth Mn [Member]</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="iret_PavilionIiDuluthMnMember_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase">Pavilion II - Duluth, MN [Member]</label>
    <loc xlink:type="locator" xlink:href="iret-20170430.xsd#iret_PrairiecareMedicalBrooklynParkMnMember" xlink:label="iret_PrairiecareMedicalBrooklynParkMnMember" xmlns="http://www.xbrl.org/2003/linkbase" />
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="iret_PrairiecareMedicalBrooklynParkMnMember" xlink:to="iret_PrairiecareMedicalBrooklynParkMnMember_lbl" xmlns="http://www.xbrl.org/2003/linkbase" />
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="iret_PrairiecareMedicalBrooklynParkMnMember_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase">PrairieCare Medical - Brooklyn Park, MN</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="iret_PrairiecareMedicalBrooklynParkMnMember_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase">Prairiecare Medical Brooklyn Park Mn [Member]</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="iret_PrairiecareMedicalBrooklynParkMnMember_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase">PrairieCare Medical - Brooklyn Park, MN [Member]</label>
    <loc xlink:type="locator" xlink:href="iret-20170430.xsd#iret_RitchieMedicalPlazaStPaulMnMember" xlink:label="iret_RitchieMedicalPlazaStPaulMnMember" xmlns="http://www.xbrl.org/2003/linkbase" />
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="iret_RitchieMedicalPlazaStPaulMnMember" xlink:to="iret_RitchieMedicalPlazaStPaulMnMember_lbl" xmlns="http://www.xbrl.org/2003/linkbase" />
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="iret_RitchieMedicalPlazaStPaulMnMember_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase">Ritchie Medical Plaza - St Paul, MN for development, expansion and renovation projects underway or recently completed.</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="iret_RitchieMedicalPlazaStPaulMnMember_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase">Ritchie Medical Plaza St Paul Mn [Member]</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="iret_RitchieMedicalPlazaStPaulMnMember_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase">Ritchie Medical Plaza - St Paul, MN [Member]</label>
    <loc xlink:type="locator" xlink:href="iret-20170430.xsd#iret_StMichaelClinicStMichaelMnMember" xlink:label="iret_StMichaelClinicStMichaelMnMember" xmlns="http://www.xbrl.org/2003/linkbase" />
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="iret_StMichaelClinicStMichaelMnMember" xlink:to="iret_StMichaelClinicStMichaelMnMember_lbl" xmlns="http://www.xbrl.org/2003/linkbase" />
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="iret_StMichaelClinicStMichaelMnMember_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase">St Michael Clinic - St Michael, MN for development, expansion and renovation projects underway or recently completed.</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="iret_StMichaelClinicStMichaelMnMember_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase">St Michael Clinic St Michael Mn [Member]</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="iret_StMichaelClinicStMichaelMnMember_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase">St Michael Clinic - St Michael, MN [Member]</label>
    <loc xlink:type="locator" xlink:href="iret-20170430.xsd#iret_TrinityAtPlaza16MinotNdMember" xlink:label="iret_TrinityAtPlaza16MinotNdMember" xmlns="http://www.xbrl.org/2003/linkbase" />
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="iret_TrinityAtPlaza16MinotNdMember" xlink:to="iret_TrinityAtPlaza16MinotNdMember_lbl" xmlns="http://www.xbrl.org/2003/linkbase" />
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="iret_TrinityAtPlaza16MinotNdMember_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase">Trinity at Plaza 16 - Minot, ND property acquired or disposed.</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="iret_TrinityAtPlaza16MinotNdMember_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase">Trinity At Plaza16 Minot Nd [Member]</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="iret_TrinityAtPlaza16MinotNdMember_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase">Trinity at Plaza 16 - Minot, ND [Member]</label>
    <loc xlink:type="locator" xlink:href="iret-20170430.xsd#iret_WellsClinicHibbingMnMember" xlink:label="iret_WellsClinicHibbingMnMember" xmlns="http://www.xbrl.org/2003/linkbase" />
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="iret_WellsClinicHibbingMnMember" xlink:to="iret_WellsClinicHibbingMnMember_lbl" xmlns="http://www.xbrl.org/2003/linkbase" />
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="iret_WellsClinicHibbingMnMember_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase">Wells Clinic - Hibbing, MN for development, expansion and renovation projects underway or recently completed.</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="iret_WellsClinicHibbingMnMember_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase">Wells Clinic Hibbing Mn [Member]</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="iret_WellsClinicHibbingMnMember_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase">Wells Clinic - Hibbing, MN [Member]</label>
    <loc xlink:type="locator" xlink:href="iret-20170430.xsd#iret_Bismarck715EastBroadwayBismarckNdMember" xlink:label="iret_Bismarck715EastBroadwayBismarckNdMember" xmlns="http://www.xbrl.org/2003/linkbase" />
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="iret_Bismarck715EastBroadwayBismarckNdMember" xlink:to="iret_Bismarck715EastBroadwayBismarckNdMember_lbl" xmlns="http://www.xbrl.org/2003/linkbase" />
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="iret_Bismarck715EastBroadwayBismarckNdMember_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase">Bismarck 715 East Broadway - Bismarck, ND for development, expansion and renovation projects underway or recently completed.</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="iret_Bismarck715EastBroadwayBismarckNdMember_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase">Bismarck715 East Broadway Bismarck Nd [Member]</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="iret_Bismarck715EastBroadwayBismarckNdMember_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase">Bismarck 715 East Broadway - Bismarck, ND [Member]</label>
    <loc xlink:type="locator" xlink:href="iret-20170430.xsd#iret_Bloomington2000W94ThStreetBloomingtonMnMember" xlink:label="iret_Bloomington2000W94ThStreetBloomingtonMnMember" xmlns="http://www.xbrl.org/2003/linkbase" />
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="iret_Bloomington2000W94ThStreetBloomingtonMnMember" xlink:to="iret_Bloomington2000W94ThStreetBloomingtonMnMember_lbl" xmlns="http://www.xbrl.org/2003/linkbase" />
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="iret_Bloomington2000W94ThStreetBloomingtonMnMember_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase">Bloomington 2000 W 94th Street - Bloomington, MN for development, expansion and renovation projects underway or recently completed.</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="iret_Bloomington2000W94ThStreetBloomingtonMnMember_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase">Bloomington2000 W94 Th Street Bloomington Mn [Member]</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="iret_Bloomington2000W94ThStreetBloomingtonMnMember_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase">Bloomington 2000 W 94th Street - Bloomington, MN [Member]</label>
    <loc xlink:type="locator" xlink:href="iret-20170430.xsd#iret_DakotaWestPlazaMinotNdMember" xlink:label="iret_DakotaWestPlazaMinotNdMember" xmlns="http://www.xbrl.org/2003/linkbase" />
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="iret_DakotaWestPlazaMinotNdMember" xlink:to="iret_DakotaWestPlazaMinotNdMember_lbl" xmlns="http://www.xbrl.org/2003/linkbase" />
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="iret_DakotaWestPlazaMinotNdMember_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase">Dakota West Plaza - Minot , ND for development, expansion and renovation projects underway or recently completed.</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="iret_DakotaWestPlazaMinotNdMember_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase">Dakota West Plaza Minot Nd [Member]</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="iret_DakotaWestPlazaMinotNdMember_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase">Dakota West Plaza - Minot , ND [Member]</label>
    <loc xlink:type="locator" xlink:href="iret-20170430.xsd#iret_LexingtonCommerceCenterEaganMnMember" xlink:label="iret_LexingtonCommerceCenterEaganMnMember" xmlns="http://www.xbrl.org/2003/linkbase" />
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="iret_LexingtonCommerceCenterEaganMnMember" xlink:to="iret_LexingtonCommerceCenterEaganMnMember_lbl" xmlns="http://www.xbrl.org/2003/linkbase" />
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="iret_LexingtonCommerceCenterEaganMnMember_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase">Lexington Commerce Center - Eagan, MN for development, expansion and renovation projects underway or recently completed.</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="iret_LexingtonCommerceCenterEaganMnMember_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase">Lexington Commerce Center Eagan Mn [Member]</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="iret_LexingtonCommerceCenterEaganMnMember_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase">Lexington Commerce Center - Eagan, MN [Member]</label>
    <loc xlink:type="locator" xlink:href="iret-20170430.xsd#iret_Minot140031StAveMinotNdMember" xlink:label="iret_Minot140031StAveMinotNdMember" xmlns="http://www.xbrl.org/2003/linkbase" />
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="iret_Minot140031StAveMinotNdMember" xlink:to="iret_Minot140031StAveMinotNdMember_lbl" xmlns="http://www.xbrl.org/2003/linkbase" />
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="iret_Minot140031StAveMinotNdMember_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase">Minot 1400 31st Ave - Minot, ND property acquired or disposed.</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="iret_Minot140031StAveMinotNdMember_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase">Minot140031 St Ave Minot Nd [Member]</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="iret_Minot140031StAveMinotNdMember_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase">Minot 1400 31st Ave - Minot, ND [Member]</label>
    <loc xlink:type="locator" xlink:href="iret-20170430.xsd#iret_Minot250516ThStreetSwMinotNdMember" xlink:label="iret_Minot250516ThStreetSwMinotNdMember" xmlns="http://www.xbrl.org/2003/linkbase" />
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="iret_Minot250516ThStreetSwMinotNdMember" xlink:to="iret_Minot250516ThStreetSwMinotNdMember_lbl" xmlns="http://www.xbrl.org/2003/linkbase" />
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="iret_Minot250516ThStreetSwMinotNdMember_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase">Minot 2505 16th Street SW - Minot, ND for development, expansion and renovation projects underway or recently completed.</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="iret_Minot250516ThStreetSwMinotNdMember_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase">Minot250516 Th Street Sw Minot Nd [Member]</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="iret_Minot250516ThStreetSwMinotNdMember_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase">Minot 2505 16th Street SW - Minot, ND [Member]</label>
    <loc xlink:type="locator" xlink:href="iret-20170430.xsd#iret_MinotArrowheadMinotNdMember" xlink:label="iret_MinotArrowheadMinotNdMember" xmlns="http://www.xbrl.org/2003/linkbase" />
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="iret_MinotArrowheadMinotNdMember" xlink:to="iret_MinotArrowheadMinotNdMember_lbl" xmlns="http://www.xbrl.org/2003/linkbase" />
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="iret_MinotArrowheadMinotNdMember_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase">Minot Arrowhead - Minot, ND for development, expansion and renovation projects underway or recently completed.</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="iret_MinotArrowheadMinotNdMember_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase">Minot Arrowhead Minot Nd [Member]</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="iret_MinotArrowheadMinotNdMember_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase">Minot Arrowhead - Minot, ND [Member]</label>
    <loc xlink:type="locator" xlink:href="iret-20170430.xsd#iret_MinotIpsMinotNdMember" xlink:label="iret_MinotIpsMinotNdMember" xmlns="http://www.xbrl.org/2003/linkbase" />
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="iret_MinotIpsMinotNdMember" xlink:to="iret_MinotIpsMinotNdMember_lbl" xmlns="http://www.xbrl.org/2003/linkbase" />
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="iret_MinotIpsMinotNdMember_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase">Minot IPS - Minot, ND for development, expansion and renovation projects underway or recently completed.</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="iret_MinotIpsMinotNdMember_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase">Minot Ips Minot Nd [Member]</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="iret_MinotIpsMinotNdMember_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase">Minot IPS - Minot, ND [Member]</label>
    <loc xlink:type="locator" xlink:href="iret-20170430.xsd#iret_MinotSouthgateRetailMinotNDMember" xlink:label="iret_MinotSouthgateRetailMinotNDMember" xmlns="http://www.xbrl.org/2003/linkbase" />
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="iret_MinotSouthgateRetailMinotNDMember" xlink:to="iret_MinotSouthgateRetailMinotNDMember_lbl" xmlns="http://www.xbrl.org/2003/linkbase" />
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="iret_MinotSouthgateRetailMinotNDMember_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase">Minot Southgate Retail - Minot, ND</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="iret_MinotSouthgateRetailMinotNDMember_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase">Minot Southgate Retail Minot N D [Member]</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="iret_MinotSouthgateRetailMinotNDMember_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase">Minot Southgate Retail - Minot, ND [Member]</label>
    <loc xlink:type="locator" xlink:href="iret-20170430.xsd#iret_Plaza16MinotNdMember" xlink:label="iret_Plaza16MinotNdMember" xmlns="http://www.xbrl.org/2003/linkbase" />
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="iret_Plaza16MinotNdMember" xlink:to="iret_Plaza16MinotNdMember_lbl" xmlns="http://www.xbrl.org/2003/linkbase" />
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="iret_Plaza16MinotNdMember_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase">Plaza 16 - Minot, ND for development, expansion and renovation projects underway or recently completed.</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="iret_Plaza16MinotNdMember_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase">Plaza16 Minot Nd [Member]</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="iret_Plaza16MinotNdMember_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase">Plaza 16 - Minot, ND [Member]</label>
    <loc xlink:type="locator" xlink:href="iret-20170430.xsd#iret_StoneContainerRosevilleMnMember" xlink:label="iret_StoneContainerRosevilleMnMember" xmlns="http://www.xbrl.org/2003/linkbase" />
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="iret_StoneContainerRosevilleMnMember" xlink:to="iret_StoneContainerRosevilleMnMember_lbl" xmlns="http://www.xbrl.org/2003/linkbase" />
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="iret_StoneContainerRosevilleMnMember_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase">Stone Container - Roseville, MN for development, expansion and renovation projects underway or recently completed.</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="iret_StoneContainerRosevilleMnMember_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase">Stone Container Roseville Mn [Member]</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="iret_StoneContainerRosevilleMnMember_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase">Roseville 3075 Long Lake Road - Roseville, MN [Member]</label>
    <loc xlink:type="locator" xlink:href="iret-20170430.xsd#iret_Urbandale3900106ThStreetUrbandaleIaMember" xlink:label="iret_Urbandale3900106ThStreetUrbandaleIaMember" xmlns="http://www.xbrl.org/2003/linkbase" />
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="iret_Urbandale3900106ThStreetUrbandaleIaMember" xlink:to="iret_Urbandale3900106ThStreetUrbandaleIaMember_lbl" xmlns="http://www.xbrl.org/2003/linkbase" />
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="iret_Urbandale3900106ThStreetUrbandaleIaMember_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase">Urbandale 3900 106th Street - Urbandale, IA for development, expansion and renovation projects underway or recently completed.</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="iret_Urbandale3900106ThStreetUrbandaleIaMember_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase">Urbandale3900106 Th Street Urbandale Ia [Member]</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="iret_Urbandale3900106ThStreetUrbandaleIaMember_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase">Urbandale 3900 106th Street - Urbandale, IA [Member]</label>
    <loc xlink:type="locator" xlink:href="iret-20170430.xsd#iret_Woodbury1865WoodlaneWoodburyMnMember" xlink:label="iret_Woodbury1865WoodlaneWoodburyMnMember" xmlns="http://www.xbrl.org/2003/linkbase" />
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="iret_Woodbury1865WoodlaneWoodburyMnMember" xlink:to="iret_Woodbury1865WoodlaneWoodburyMnMember_lbl" xmlns="http://www.xbrl.org/2003/linkbase" />
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="iret_Woodbury1865WoodlaneWoodburyMnMember_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase">Woodbury 1865 Woodlane - Woodbury, MN for development, expansion and renovation projects underway or recently completed.</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="iret_Woodbury1865WoodlaneWoodburyMnMember_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase">Woodbury1865 Woodlane Woodbury Mn [Member]</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="iret_Woodbury1865WoodlaneWoodburyMnMember_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase">Woodbury 1865 Woodlane - Woodbury, MN [Member]</label>
    <loc xlink:type="locator" xlink:href="iret-20170430.xsd#iret_BadgerHillsRochesterMnMember" xlink:label="iret_BadgerHillsRochesterMnMember" xmlns="http://www.xbrl.org/2003/linkbase" />
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="iret_BadgerHillsRochesterMnMember" xlink:to="iret_BadgerHillsRochesterMnMember_lbl" xmlns="http://www.xbrl.org/2003/linkbase" />
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="iret_BadgerHillsRochesterMnMember_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase">Badger Hills - Rochester, MN for development, expansion and renovation projects underway or recently completed.</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="iret_BadgerHillsRochesterMnMember_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase">Badger Hills Rochester Mn [Member]</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="iret_BadgerHillsRochesterMnMember_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase">Badger Hills - Rochester, MN [Member]</label>
    <loc xlink:type="locator" xlink:href="iret-20170430.xsd#iret_Bismarck4916BismarckNdMember" xlink:label="iret_Bismarck4916BismarckNdMember" xmlns="http://www.xbrl.org/2003/linkbase" />
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="iret_Bismarck4916BismarckNdMember" xlink:to="iret_Bismarck4916BismarckNdMember_lbl" xmlns="http://www.xbrl.org/2003/linkbase" />
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="iret_Bismarck4916BismarckNdMember_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase">Bismarck 4916 - Bismarck, ND for development, expansion and renovation projects underway or recently completed.</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="iret_Bismarck4916BismarckNdMember_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase">Bismarck4916 Bismarck Nd [Member]</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="iret_Bismarck4916BismarckNdMember_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase">Bismarck 4916 - Bismarck, ND [Member]</label>
    <loc xlink:type="locator" xlink:href="iret-20170430.xsd#iret_Bismarck700EMainBismarckNdMember" xlink:label="iret_Bismarck700EMainBismarckNdMember" xmlns="http://www.xbrl.org/2003/linkbase" />
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="iret_Bismarck700EMainBismarckNdMember" xlink:to="iret_Bismarck700EMainBismarckNdMember_lbl" xmlns="http://www.xbrl.org/2003/linkbase" />
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="iret_Bismarck700EMainBismarckNdMember_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase">Bismarck 700 E Main - Bismarck, ND for development, expansion and renovation projects underway or recently completed.</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="iret_Bismarck700EMainBismarckNdMember_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase">Bismarck700 E Main Bismarck Nd [Member]</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="iret_Bismarck700EMainBismarckNdMember_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase">Bismarck 700 E Main - Bismarck, ND [Member]</label>
    <loc xlink:type="locator" xlink:href="iret-20170430.xsd#iret_CreeksideCrossingBismarckNdMember" xlink:label="iret_CreeksideCrossingBismarckNdMember" xmlns="http://www.xbrl.org/2003/linkbase" />
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="iret_CreeksideCrossingBismarckNdMember" xlink:to="iret_CreeksideCrossingBismarckNdMember_lbl" xmlns="http://www.xbrl.org/2003/linkbase" />
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="iret_CreeksideCrossingBismarckNdMember_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase">Creekside Crossing - Bismarck, ND</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="iret_CreeksideCrossingBismarckNdMember_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase">Creekside Crossing Bismarck Nd [Member]</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="iret_CreeksideCrossingBismarckNdMember_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase">Creekside Crossing - Bismarck, ND [Member]</label>
    <loc xlink:type="locator" xlink:href="iret-20170430.xsd#iret_GrandForksGrandForksNdMember" xlink:label="iret_GrandForksGrandForksNdMember" xmlns="http://www.xbrl.org/2003/linkbase" />
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="iret_GrandForksGrandForksNdMember" xlink:to="iret_GrandForksGrandForksNdMember_lbl" xmlns="http://www.xbrl.org/2003/linkbase" />
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="iret_GrandForksGrandForksNdMember_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase">Grand Forks - Grand Forks, ND for development, expansion and renovation projects underway or recently completed.</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="iret_GrandForksGrandForksNdMember_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase">Grand Forks Grand Forks Nd [Member]</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="iret_GrandForksGrandForksNdMember_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase">Grand Forks Grand Forks, ND [Member]</label>
    <loc xlink:type="locator" xlink:href="iret-20170430.xsd#iret_IsantiUnimprovedIsantiMnMember" xlink:label="iret_IsantiUnimprovedIsantiMnMember" xmlns="http://www.xbrl.org/2003/linkbase" />
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="iret_IsantiUnimprovedIsantiMnMember" xlink:to="iret_IsantiUnimprovedIsantiMnMember_lbl" xmlns="http://www.xbrl.org/2003/linkbase" />
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="iret_IsantiUnimprovedIsantiMnMember_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase">Isanti Unimproved - Isanti, MN for development, expansion and renovation projects underway or recently completed.</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="iret_IsantiUnimprovedIsantiMnMember_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase">Isanti Unimproved Isanti Mn [Member]</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="iret_IsantiUnimprovedIsantiMnMember_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase">Isanti Unimproved - Isanti, MN [Member]</label>
    <loc xlink:type="locator" xlink:href="iret-20170430.xsd#iret_Minot152524thAveSWMinotNDMember" xlink:label="iret_Minot152524thAveSWMinotNDMember" xmlns="http://www.xbrl.org/2003/linkbase" />
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="iret_Minot152524thAveSWMinotNDMember" xlink:to="iret_Minot152524thAveSWMinotNDMember_lbl" xmlns="http://www.xbrl.org/2003/linkbase" />
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="iret_Minot152524thAveSWMinotNDMember_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase">Minot 1525 24th Ave SW - Minot, ND</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="iret_Minot152524thAveSWMinotNDMember_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase">Minot152524th Ave S W Minot N D [Member]</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="iret_Minot152524thAveSWMinotNDMember_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase">Minot 1525 24th Ave SW - Minot, ND [Member]</label>
    <loc xlink:type="locator" xlink:href="iret-20170430.xsd#iret_RapidCityUnimprovedRapidCitySdMember" xlink:label="iret_RapidCityUnimprovedRapidCitySdMember" xmlns="http://www.xbrl.org/2003/linkbase" />
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="iret_RapidCityUnimprovedRapidCitySdMember" xlink:to="iret_RapidCityUnimprovedRapidCitySdMember_lbl" xmlns="http://www.xbrl.org/2003/linkbase" />
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="iret_RapidCityUnimprovedRapidCitySdMember_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase">Rapid City Unimproved- Rapid City, SD</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="iret_RapidCityUnimprovedRapidCitySdMember_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase">Rapid City Unimproved Rapid City Sd [Member]</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="iret_RapidCityUnimprovedRapidCitySdMember_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase">Rapid City Unimproved- Rapid City, SD [Member]</label>
    <loc xlink:type="locator" xlink:href="iret-20170430.xsd#iret_UrbandaleUnimprovedLandUrbandaleIaMember" xlink:label="iret_UrbandaleUnimprovedLandUrbandaleIaMember" xmlns="http://www.xbrl.org/2003/linkbase" />
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="iret_UrbandaleUnimprovedLandUrbandaleIaMember" xlink:to="iret_UrbandaleUnimprovedLandUrbandaleIaMember_lbl" xmlns="http://www.xbrl.org/2003/linkbase" />
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="iret_UrbandaleUnimprovedLandUrbandaleIaMember_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase">Urbandale Unimproved Land - Urbandale, IA for development, expansion and renovation projects underway or recently completed.</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="iret_UrbandaleUnimprovedLandUrbandaleIaMember_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase">Urbandale Unimproved Land Urbandale Ia [Member]</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="iret_UrbandaleUnimprovedLandUrbandaleIaMember_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase">Urbandale - Urbandale, IA [Member]</label>
    <loc xlink:type="locator" xlink:href="iret-20170430.xsd#iret_WestonUnimprovedLandWestonWiMember" xlink:label="iret_WestonUnimprovedLandWestonWiMember" xmlns="http://www.xbrl.org/2003/linkbase" />
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="iret_WestonUnimprovedLandWestonWiMember" xlink:to="iret_WestonUnimprovedLandWestonWiMember_lbl" xmlns="http://www.xbrl.org/2003/linkbase" />
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="iret_WestonUnimprovedLandWestonWiMember_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase">Weston Unimproved Land - Weston, WI for development, expansion and renovation projects underway or recently completed.</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="iret_WestonUnimprovedLandWestonWiMember_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase">Weston Unimproved Land Weston Wi [Member]</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="iret_WestonUnimprovedLandWestonWiMember_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase">Weston - Weston, WI [Member]</label>
    <loc xlink:type="locator" xlink:href="iret-20170430.xsd#iret_FirstAvenueBuildingMinotNdMember" xlink:label="iret_FirstAvenueBuildingMinotNdMember" xmlns="http://www.xbrl.org/2003/linkbase" />
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="iret_FirstAvenueBuildingMinotNdMember" xlink:to="iret_FirstAvenueBuildingMinotNdMember_lbl" xmlns="http://www.xbrl.org/2003/linkbase" />
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="iret_FirstAvenueBuildingMinotNdMember_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase">1st Avenue Building - Minot, ND for development, expansion and renovation projects underway or recently completed.</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="iret_FirstAvenueBuildingMinotNdMember_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase">First Avenue Building Minot Nd [Member]</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="iret_FirstAvenueBuildingMinotNdMember_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase">1st Avenue Building - Minot, ND [Member]</label>
    <loc xlink:type="locator" xlink:href="iret-20170430.xsd#iret_FourthStreetFourPlexMinotNdMember" xlink:label="iret_FourthStreetFourPlexMinotNdMember" xmlns="http://www.xbrl.org/2003/linkbase" />
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="iret_FourthStreetFourPlexMinotNdMember" xlink:to="iret_FourthStreetFourPlexMinotNdMember_lbl" xmlns="http://www.xbrl.org/2003/linkbase" />
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="iret_FourthStreetFourPlexMinotNdMember_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase">4th Street 4 Plex-Minot, ND for development, expansion and renovation projects underway or recently completed.</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="iret_FourthStreetFourPlexMinotNdMember_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase">Fourth Street Four Plex Minot Nd [Member]</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="iret_FourthStreetFourPlexMinotNdMember_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase">4th Street 4 Plex - Minot, ND [Member]</label>
    <loc xlink:type="locator" xlink:href="iret-20170430.xsd#iret_EleventhStreetThreePlexMinotNdMember" xlink:label="iret_EleventhStreetThreePlexMinotNdMember" xmlns="http://www.xbrl.org/2003/linkbase" />
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="iret_EleventhStreetThreePlexMinotNdMember" xlink:to="iret_EleventhStreetThreePlexMinotNdMember_lbl" xmlns="http://www.xbrl.org/2003/linkbase" />
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="iret_EleventhStreetThreePlexMinotNdMember_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase">11th Street 3 Plex - Minot, ND for development, expansion and renovation projects underway or recently completed.</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="iret_EleventhStreetThreePlexMinotNdMember_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase">Eleventh Street Three Plex Minot Nd [Member]</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="iret_EleventhStreetThreePlexMinotNdMember_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase">11th Street 3 Plex - Minot, ND [Member]</label>
    <loc xlink:type="locator" xlink:href="iret-20170430.xsd#iret_OneSevenSouthMainMinotNdMember" xlink:label="iret_OneSevenSouthMainMinotNdMember" xmlns="http://www.xbrl.org/2003/linkbase" />
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="iret_OneSevenSouthMainMinotNdMember" xlink:to="iret_OneSevenSouthMainMinotNdMember_lbl" xmlns="http://www.xbrl.org/2003/linkbase" />
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="iret_OneSevenSouthMainMinotNdMember_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase">17 South Main - Minot, ND for development, expansion and renovation projects underway or recently completed.</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="iret_OneSevenSouthMainMinotNdMember_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase">One Seven South Main Minot Nd [Member]</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="iret_OneSevenSouthMainMinotNdMember_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase">17 South Main - Minot, ND [Member]</label>
    <loc xlink:type="locator" xlink:href="iret-20170430.xsd#iret_ApartmentsOnMainMinotNdMember" xlink:label="iret_ApartmentsOnMainMinotNdMember" xmlns="http://www.xbrl.org/2003/linkbase" />
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="iret_ApartmentsOnMainMinotNdMember" xlink:to="iret_ApartmentsOnMainMinotNdMember_lbl" xmlns="http://www.xbrl.org/2003/linkbase" />
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="iret_ApartmentsOnMainMinotNdMember_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase">Apartments on Main - Minot, ND for development, expansion and renovation projects underway or recently completed.</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="iret_ApartmentsOnMainMinotNdMember_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase">Apartments On Main Minot Nd [Member]</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="iret_ApartmentsOnMainMinotNdMember_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase">Apartments on Main - Minot, ND [Member]</label>
    <loc xlink:type="locator" xlink:href="iret-20170430.xsd#iret_BrooklynHeightsMinotNdMember" xlink:label="iret_BrooklynHeightsMinotNdMember" xmlns="http://www.xbrl.org/2003/linkbase" />
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="iret_BrooklynHeightsMinotNdMember" xlink:to="iret_BrooklynHeightsMinotNdMember_lbl" xmlns="http://www.xbrl.org/2003/linkbase" />
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="iret_BrooklynHeightsMinotNdMember_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase">Brooklyn Heights - Minot, ND for development, expansion and renovation projects underway or recently completed.</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="iret_BrooklynHeightsMinotNdMember_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase">Brooklyn Heights Minot Nd [Member]</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="iret_BrooklynHeightsMinotNdMember_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase">Brooklyn Heights - Minot, ND [Member]</label>
    <loc xlink:type="locator" xlink:href="iret-20170430.xsd#iret_ColtonHeightMinotNdMember" xlink:label="iret_ColtonHeightMinotNdMember" xmlns="http://www.xbrl.org/2003/linkbase" />
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="iret_ColtonHeightMinotNdMember" xlink:to="iret_ColtonHeightMinotNdMember_lbl" xmlns="http://www.xbrl.org/2003/linkbase" />
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="iret_ColtonHeightMinotNdMember_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase">Colton Heights - Minot, ND for development, expansion and renovation projects underway or recently completed.</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="iret_ColtonHeightMinotNdMember_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase">Colton Height Minot Nd [Member]</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="iret_ColtonHeightMinotNdMember_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase">Colton Heights - Minot, ND [Member]</label>
    <loc xlink:type="locator" xlink:href="iret-20170430.xsd#iret_EdgewoodVistaHermantownIMnMember" xlink:label="iret_EdgewoodVistaHermantownIMnMember" xmlns="http://www.xbrl.org/2003/linkbase" />
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="iret_EdgewoodVistaHermantownIMnMember" xlink:to="iret_EdgewoodVistaHermantownIMnMember_lbl" xmlns="http://www.xbrl.org/2003/linkbase" />
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="iret_EdgewoodVistaHermantownIMnMember_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase">Edgewood Vista - Hermantown I, MN for development, expansion and renovation projects underway or recently completed.</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="iret_EdgewoodVistaHermantownIMnMember_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase">Edgewood Vista Hermantown I Mn [Member]</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="iret_EdgewoodVistaHermantownIMnMember_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase">Edgewood Vista - Hermantown I, MN [Member]</label>
    <loc xlink:type="locator" xlink:href="iret-20170430.xsd#iret_EdgewoodVistaHermantownIiMnMember" xlink:label="iret_EdgewoodVistaHermantownIiMnMember" xmlns="http://www.xbrl.org/2003/linkbase" />
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="iret_EdgewoodVistaHermantownIiMnMember" xlink:to="iret_EdgewoodVistaHermantownIiMnMember_lbl" xmlns="http://www.xbrl.org/2003/linkbase" />
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="iret_EdgewoodVistaHermantownIiMnMember_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase">Edgewood Vista - Hermantown II, MN for development, expansion and renovation projects underway or recently completed.</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="iret_EdgewoodVistaHermantownIiMnMember_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase">Edgewood Vista Hermantown Ii Mn [Member]</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="iret_EdgewoodVistaHermantownIiMnMember_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase">Edgewood Vista - Hermantown II, MN [Member]</label>
    <loc xlink:type="locator" xlink:href="iret-20170430.xsd#iret_FairmontMinotNdMember" xlink:label="iret_FairmontMinotNdMember" xmlns="http://www.xbrl.org/2003/linkbase" />
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="iret_FairmontMinotNdMember" xlink:to="iret_FairmontMinotNdMember_lbl" xmlns="http://www.xbrl.org/2003/linkbase" />
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="iret_FairmontMinotNdMember_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase">Fairmont - Minot, ND for development, expansion and renovation projects underway or recently completed.</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="iret_FairmontMinotNdMember_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase">Fairmont Minot Nd [Member]</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="iret_FairmontMinotNdMember_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase">Fairmont - Minot, ND [Member]</label>
    <loc xlink:type="locator" xlink:href="iret-20170430.xsd#iret_FirstAvenueMinotNdMember" xlink:label="iret_FirstAvenueMinotNdMember" xmlns="http://www.xbrl.org/2003/linkbase" />
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="iret_FirstAvenueMinotNdMember" xlink:to="iret_FirstAvenueMinotNdMember_lbl" xmlns="http://www.xbrl.org/2003/linkbase" />
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="iret_FirstAvenueMinotNdMember_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase">First Avenue - Minot ND for development, expansion and renovation projects underway or recently completed.</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="iret_FirstAvenueMinotNdMember_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase">First Avenue Minot Nd [Member]</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="iret_FirstAvenueMinotNdMember_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase">First Avenue - Minot ND [Member]</label>
    <loc xlink:type="locator" xlink:href="iret-20170430.xsd#iret_MinotWellsFargoBankMinotNdMember" xlink:label="iret_MinotWellsFargoBankMinotNdMember" xmlns="http://www.xbrl.org/2003/linkbase" />
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="iret_MinotWellsFargoBankMinotNdMember" xlink:to="iret_MinotWellsFargoBankMinotNdMember_lbl" xmlns="http://www.xbrl.org/2003/linkbase" />
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="iret_MinotWellsFargoBankMinotNdMember_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase">Minot Wells Fargo Bank - Minot, ND</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="iret_MinotWellsFargoBankMinotNdMember_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase">Minot Wells Fargo Bank Minot Nd [Member]</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="iret_MinotWellsFargoBankMinotNdMember_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase">Minot Southgate Wells Fargo Bank - Minot, ND [Member]</label>
    <loc xlink:type="locator" xlink:href="iret-20170430.xsd#iret_PinesMinotNdMember" xlink:label="iret_PinesMinotNdMember" xmlns="http://www.xbrl.org/2003/linkbase" />
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="iret_PinesMinotNdMember" xlink:to="iret_PinesMinotNdMember_lbl" xmlns="http://www.xbrl.org/2003/linkbase" />
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="iret_PinesMinotNdMember_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase">Pines - Minot, ND for development, expansion and renovation projects underway or recently completed.</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="iret_PinesMinotNdMember_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase">Pines Minot Nd [Member]</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="iret_PinesMinotNdMember_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase">Pines - Minot, ND [Member]</label>
    <loc xlink:type="locator" xlink:href="iret-20170430.xsd#iret_SouthviewMinotNdMember" xlink:label="iret_SouthviewMinotNdMember" xmlns="http://www.xbrl.org/2003/linkbase" />
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="iret_SouthviewMinotNdMember" xlink:to="iret_SouthviewMinotNdMember_lbl" xmlns="http://www.xbrl.org/2003/linkbase" />
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="iret_SouthviewMinotNdMember_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase">Southview - Minot, ND for development, expansion and renovation projects underway or recently completed.</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="iret_SouthviewMinotNdMember_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase">Southview Minot Nd [Member]</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="iret_SouthviewMinotNdMember_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase">Southview - Minot, ND [Member]</label>
    <loc xlink:type="locator" xlink:href="iret-20170430.xsd#iret_SummitParkMinotNdMember" xlink:label="iret_SummitParkMinotNdMember" xmlns="http://www.xbrl.org/2003/linkbase" />
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="iret_SummitParkMinotNdMember" xlink:to="iret_SummitParkMinotNdMember_lbl" xmlns="http://www.xbrl.org/2003/linkbase" />
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="iret_SummitParkMinotNdMember_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase">Summit Park - Minot, ND for development, expansion and renovation projects underway or recently completed.</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="iret_SummitParkMinotNdMember_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase">Summit Park Minot Nd [Member]</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="iret_SummitParkMinotNdMember_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase">Summit Park - Minot, ND [Member]</label>
    <loc xlink:type="locator" xlink:href="iret-20170430.xsd#iret_TempleMinotNdMember" xlink:label="iret_TempleMinotNdMember" xmlns="http://www.xbrl.org/2003/linkbase" />
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="iret_TempleMinotNdMember" xlink:to="iret_TempleMinotNdMember_lbl" xmlns="http://www.xbrl.org/2003/linkbase" />
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="iret_TempleMinotNdMember_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase">Temple - Minot, ND for development, expansion and renovation projects underway or recently completed.</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="iret_TempleMinotNdMember_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase">Temple Minot Nd [Member]</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="iret_TempleMinotNdMember_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase">Temple - Minot, ND [Member]</label>
    <loc xlink:type="locator" xlink:href="iret-20170430.xsd#iret_TerraceHeightsMinotNdMember" xlink:label="iret_TerraceHeightsMinotNdMember" xmlns="http://www.xbrl.org/2003/linkbase" />
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="iret_TerraceHeightsMinotNdMember" xlink:to="iret_TerraceHeightsMinotNdMember_lbl" xmlns="http://www.xbrl.org/2003/linkbase" />
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="iret_TerraceHeightsMinotNdMember_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase">Terrace Heights - Minot, ND for development, expansion and renovation projects underway or recently completed.</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="iret_TerraceHeightsMinotNdMember_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase">Terrace Heights Minot Nd [Member]</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="iret_TerraceHeightsMinotNdMember_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase">Terrace Heights - Minot, ND [Member]</label>
    <loc xlink:type="locator" xlink:href="iret-20170430.xsd#iret_WestridgeMinotNdMember" xlink:label="iret_WestridgeMinotNdMember" xmlns="http://www.xbrl.org/2003/linkbase" />
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="iret_WestridgeMinotNdMember" xlink:to="iret_WestridgeMinotNdMember_lbl" xmlns="http://www.xbrl.org/2003/linkbase" />
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="iret_WestridgeMinotNdMember_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase">Westridge - Minot, ND for development, expansion and renovation projects underway or recently completed.</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="iret_WestridgeMinotNdMember_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase">Westridge Minot Nd [Member]</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="iret_WestridgeMinotNdMember_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase">Westridge - Minot, ND [Member]</label>
    <loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2016/elts/us-gaap-2016-01-31.xsd#us-gaap_RealEstateAndAccumulatedDepreciationLineItems" xlink:label="us-gaap_RealEstateAndAccumulatedDepreciationLineItems" xmlns="http://www.xbrl.org/2003/linkbase" />
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_RealEstateAndAccumulatedDepreciationLineItems" xlink:to="us-gaap_RealEstateAndAccumulatedDepreciationLineItems_lbl" xmlns="http://www.xbrl.org/2003/linkbase" />
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_RealEstateAndAccumulatedDepreciationLineItems_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase">Real Estate and Accumulated Depreciation [Line Items]</label>
    <loc xlink:type="locator" xlink:href="iret-20170430.xsd#iret_RealEstateAndAccumulatedDepreciationAbstract" xlink:label="iret_RealEstateAndAccumulatedDepreciationAbstract" xmlns="http://www.xbrl.org/2003/linkbase" />
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="iret_RealEstateAndAccumulatedDepreciationAbstract" xlink:to="iret_RealEstateAndAccumulatedDepreciationAbstract_lbl" xmlns="http://www.xbrl.org/2003/linkbase" />
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="iret_RealEstateAndAccumulatedDepreciationAbstract_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase">Real Estate And Accumulated Depreciation [Abstract]</label>
    <loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2016/elts/us-gaap-2016-01-31.xsd#us-gaap_RealEstateAndAccumulatedDepreciationAmountOfEncumbrances" xlink:label="us-gaap_RealEstateAndAccumulatedDepreciationAmountOfEncumbrances" xmlns="http://www.xbrl.org/2003/linkbase" />
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_RealEstateAndAccumulatedDepreciationAmountOfEncumbrances" xlink:to="us-gaap_RealEstateAndAccumulatedDepreciationAmountOfEncumbrances_lbl" xmlns="http://www.xbrl.org/2003/linkbase" />
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_RealEstateAndAccumulatedDepreciationAmountOfEncumbrances_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase">Encumbrances</label>
    <loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2016/elts/us-gaap-2016-01-31.xsd#us-gaap_RealEstateAndAccumulatedDepreciationInitialCostAbstract" xlink:label="us-gaap_RealEstateAndAccumulatedDepreciationInitialCostAbstract" xmlns="http://www.xbrl.org/2003/linkbase" />
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_RealEstateAndAccumulatedDepreciationInitialCostAbstract" xlink:to="us-gaap_RealEstateAndAccumulatedDepreciationInitialCostAbstract_lbl" xmlns="http://www.xbrl.org/2003/linkbase" />
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_RealEstateAndAccumulatedDepreciationInitialCostAbstract_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase">Initial Cost to Company [Abstract]</label>
    <loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2016/elts/us-gaap-2016-01-31.xsd#us-gaap_RealEstateAndAccumulatedDepreciationInitialCostOfLand" xlink:label="us-gaap_RealEstateAndAccumulatedDepreciationInitialCostOfLand" xmlns="http://www.xbrl.org/2003/linkbase" />
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_RealEstateAndAccumulatedDepreciationInitialCostOfLand" xlink:to="us-gaap_RealEstateAndAccumulatedDepreciationInitialCostOfLand_lbl" xmlns="http://www.xbrl.org/2003/linkbase" />
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_RealEstateAndAccumulatedDepreciationInitialCostOfLand_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase">SEC Schedule III, Real Estate and Accumulated Depreciation, Initial Cost of Land</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="us-gaap_RealEstateAndAccumulatedDepreciationInitialCostOfLand_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase">Land</label>
    <loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2016/elts/us-gaap-2016-01-31.xsd#us-gaap_RealEstateAndAccumulatedDepreciationInitialCostOfBuildingsAndImprovements" xlink:label="us-gaap_RealEstateAndAccumulatedDepreciationInitialCostOfBuildingsAndImprovements" xmlns="http://www.xbrl.org/2003/linkbase" />
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_RealEstateAndAccumulatedDepreciationInitialCostOfBuildingsAndImprovements" xlink:to="us-gaap_RealEstateAndAccumulatedDepreciationInitialCostOfBuildingsAndImprovements_lbl" xmlns="http://www.xbrl.org/2003/linkbase" />
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_RealEstateAndAccumulatedDepreciationInitialCostOfBuildingsAndImprovements_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase">SEC Schedule III, Real Estate and Accumulated Depreciation, Initial Cost of Buildings and Improvements</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="us-gaap_RealEstateAndAccumulatedDepreciationInitialCostOfBuildingsAndImprovements_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase">Buildings &amp; Improvements</label>
    <loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2016/elts/us-gaap-2016-01-31.xsd#us-gaap_RealEstateAndAccumulatedDepreciationCostsCapitalizedSubsequentToAcquisitionCarryingCosts" xlink:label="us-gaap_RealEstateAndAccumulatedDepreciationCostsCapitalizedSubsequentToAcquisitionCarryingCosts" xmlns="http://www.xbrl.org/2003/linkbase" />
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_RealEstateAndAccumulatedDepreciationCostsCapitalizedSubsequentToAcquisitionCarryingCosts" xlink:to="us-gaap_RealEstateAndAccumulatedDepreciationCostsCapitalizedSubsequentToAcquisitionCarryingCosts_lbl" xmlns="http://www.xbrl.org/2003/linkbase" />
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_RealEstateAndAccumulatedDepreciationCostsCapitalizedSubsequentToAcquisitionCarryingCosts_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase">Costs capitalized subsequent to acquisition</label>
    <loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2016/elts/us-gaap-2016-01-31.xsd#us-gaap_RealEstateAndAccumulatedDepreciationCarryingAmountOfLandAndBuildingsAndImprovementsAbstract" xlink:label="us-gaap_RealEstateAndAccumulatedDepreciationCarryingAmountOfLandAndBuildingsAndImprovementsAbstract" xmlns="http://www.xbrl.org/2003/linkbase" />
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_RealEstateAndAccumulatedDepreciationCarryingAmountOfLandAndBuildingsAndImprovementsAbstract" xlink:to="us-gaap_RealEstateAndAccumulatedDepreciationCarryingAmountOfLandAndBuildingsAndImprovementsAbstract_lbl" xmlns="http://www.xbrl.org/2003/linkbase" />
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_RealEstateAndAccumulatedDepreciationCarryingAmountOfLandAndBuildingsAndImprovementsAbstract_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase">Gross amount at which carried at close of period [Abstract]</label>
    <loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2016/elts/us-gaap-2016-01-31.xsd#us-gaap_RealEstateAndAccumulatedDepreciationCarryingAmountOfLand" xlink:label="us-gaap_RealEstateAndAccumulatedDepreciationCarryingAmountOfLand" xmlns="http://www.xbrl.org/2003/linkbase" />
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_RealEstateAndAccumulatedDepreciationCarryingAmountOfLand" xlink:to="us-gaap_RealEstateAndAccumulatedDepreciationCarryingAmountOfLand_lbl" xmlns="http://www.xbrl.org/2003/linkbase" />
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_RealEstateAndAccumulatedDepreciationCarryingAmountOfLand_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase">SEC Schedule III, Real Estate and Accumulated Depreciation, Carrying Amount of Land</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="us-gaap_RealEstateAndAccumulatedDepreciationCarryingAmountOfLand_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase">Land</label>
    <loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2016/elts/us-gaap-2016-01-31.xsd#us-gaap_RealEstateAndAccumulatedDepreciationCarryingAmountOfBuildingsAndImprovements" xlink:label="us-gaap_RealEstateAndAccumulatedDepreciationCarryingAmountOfBuildingsAndImprovements" xmlns="http://www.xbrl.org/2003/linkbase" />
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_RealEstateAndAccumulatedDepreciationCarryingAmountOfBuildingsAndImprovements" xlink:to="us-gaap_RealEstateAndAccumulatedDepreciationCarryingAmountOfBuildingsAndImprovements_lbl" xmlns="http://www.xbrl.org/2003/linkbase" />
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_RealEstateAndAccumulatedDepreciationCarryingAmountOfBuildingsAndImprovements_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase">SEC Schedule III, Real Estate and Accumulated Depreciation, Carrying Amount of Buildings and Improvements</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="us-gaap_RealEstateAndAccumulatedDepreciationCarryingAmountOfBuildingsAndImprovements_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase">Buildings &amp; Improvements</label>
    <loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2016/elts/us-gaap-2016-01-31.xsd#us-gaap_RealEstateGrossAtCarryingValue" xlink:label="us-gaap_RealEstateGrossAtCarryingValue" xmlns="http://www.xbrl.org/2003/linkbase" />
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_RealEstateGrossAtCarryingValue" xlink:to="us-gaap_RealEstateGrossAtCarryingValue_lbl" xmlns="http://www.xbrl.org/2003/linkbase" />
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_RealEstateGrossAtCarryingValue_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase">SEC Schedule III, Real Estate, Gross</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/periodEndLabel" xlink:label="us-gaap_RealEstateGrossAtCarryingValue_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase">Balance at close of year</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/periodStartLabel" xlink:label="us-gaap_RealEstateGrossAtCarryingValue_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase">Balance at beginning of year</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="us-gaap_RealEstateGrossAtCarryingValue_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase">Total</label>
    <loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2016/elts/us-gaap-2016-01-31.xsd#us-gaap_RealEstateAccumulatedDepreciation" xlink:label="us-gaap_RealEstateAccumulatedDepreciation" xmlns="http://www.xbrl.org/2003/linkbase" />
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_RealEstateAccumulatedDepreciation" xlink:to="us-gaap_RealEstateAccumulatedDepreciation_lbl" xmlns="http://www.xbrl.org/2003/linkbase" />
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_RealEstateAccumulatedDepreciation_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase">SEC Schedule III, Real Estate Accumulated Depreciation</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2009/role/negatedLabel" xlink:label="us-gaap_RealEstateAccumulatedDepreciation_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase">Accumulated Depreciation</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/periodEndLabel" xlink:label="us-gaap_RealEstateAccumulatedDepreciation_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase">Balance at close of year</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/periodStartLabel" xlink:label="us-gaap_RealEstateAccumulatedDepreciation_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase">Balance at beginning of year</label>
    <loc xlink:type="locator" xlink:href="iret-20170430.xsd#iret_YearOfConstructionOrAcquisition" xlink:label="iret_YearOfConstructionOrAcquisition" xmlns="http://www.xbrl.org/2003/linkbase" />
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="iret_YearOfConstructionOrAcquisition" xlink:to="iret_YearOfConstructionOrAcquisition_lbl" xmlns="http://www.xbrl.org/2003/linkbase" />
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="iret_YearOfConstructionOrAcquisition_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase">Year the property was constructed or acquired.</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="iret_YearOfConstructionOrAcquisition_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase">Year of Construction or Acquisition</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="iret_YearOfConstructionOrAcquisition_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase">Date of Construction or Acquisition</label>
    <loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2016/elts/us-gaap-2016-01-31.xsd#us-gaap_ReconciliationOfCarryingAmountOfRealEstateInvestmentsRollForward" xlink:label="us-gaap_ReconciliationOfCarryingAmountOfRealEstateInvestmentsRollForward" xmlns="http://www.xbrl.org/2003/linkbase" />
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_ReconciliationOfCarryingAmountOfRealEstateInvestmentsRollForward" xlink:to="us-gaap_ReconciliationOfCarryingAmountOfRealEstateInvestmentsRollForward_lbl" xmlns="http://www.xbrl.org/2003/linkbase" />
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_ReconciliationOfCarryingAmountOfRealEstateInvestmentsRollForward_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase">Reconciliations of total real estate carrying value [Abstract]</label>
    <loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2016/elts/us-gaap-2016-01-31.xsd#us-gaap_RealEstateOtherAdditions" xlink:label="us-gaap_RealEstateOtherAdditions" xmlns="http://www.xbrl.org/2003/linkbase" />
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_RealEstateOtherAdditions" xlink:to="us-gaap_RealEstateOtherAdditions_lbl" xmlns="http://www.xbrl.org/2003/linkbase" />
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_RealEstateOtherAdditions_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase">Additions</label>
    <loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2016/elts/us-gaap-2016-01-31.xsd#us-gaap_RealEstateOtherAcquisitions" xlink:label="us-gaap_RealEstateOtherAcquisitions" xmlns="http://www.xbrl.org/2003/linkbase" />
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_RealEstateOtherAcquisitions" xlink:to="us-gaap_RealEstateOtherAcquisitions_lbl" xmlns="http://www.xbrl.org/2003/linkbase" />
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_RealEstateOtherAcquisitions_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase">Acquisitions</label>
    <loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2016/elts/us-gaap-2016-01-31.xsd#us-gaap_PropertyPlantAndEquipmentTransfersAndChanges" xlink:label="us-gaap_PropertyPlantAndEquipmentTransfersAndChanges" xmlns="http://www.xbrl.org/2003/linkbase" />
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_PropertyPlantAndEquipmentTransfersAndChanges" xlink:to="us-gaap_PropertyPlantAndEquipmentTransfersAndChanges_lbl" xmlns="http://www.xbrl.org/2003/linkbase" />
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_PropertyPlantAndEquipmentTransfersAndChanges_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase">Transfers</label>
    <loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2016/elts/us-gaap-2016-01-31.xsd#us-gaap_RealEstateImprovements" xlink:label="us-gaap_RealEstateImprovements" xmlns="http://www.xbrl.org/2003/linkbase" />
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_RealEstateImprovements" xlink:to="us-gaap_RealEstateImprovements_lbl" xmlns="http://www.xbrl.org/2003/linkbase" />
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_RealEstateImprovements_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase">Improvements and Other</label>
    <loc xlink:type="locator" xlink:href="iret-20170430.xsd#iret_RealEstateTotalAdditions" xlink:label="iret_RealEstateTotalAdditions" xmlns="http://www.xbrl.org/2003/linkbase" />
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="iret_RealEstateTotalAdditions" xlink:to="iret_RealEstateTotalAdditions_lbl" xmlns="http://www.xbrl.org/2003/linkbase" />
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="iret_RealEstateTotalAdditions_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase">Amount of additions made to real estate investments during the period.</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="iret_RealEstateTotalAdditions_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase">Real Estate Total Additions</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="iret_RealEstateTotalAdditions_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase">Total Additions</label>
    <loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2016/elts/us-gaap-2016-01-31.xsd#us-gaap_RealEstateCostOfRealEstateSold" xlink:label="us-gaap_RealEstateCostOfRealEstateSold" xmlns="http://www.xbrl.org/2003/linkbase" />
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_RealEstateCostOfRealEstateSold" xlink:to="us-gaap_RealEstateCostOfRealEstateSold_lbl" xmlns="http://www.xbrl.org/2003/linkbase" />
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_RealEstateCostOfRealEstateSold_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase">SEC Schedule III, Real Estate, Cost of Real Estate Sold</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2009/role/negatedLabel" xlink:label="us-gaap_RealEstateCostOfRealEstateSold_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase">Cost of real estate sold</label>
    <loc xlink:type="locator" xlink:href="iret-20170430.xsd#iret_RealEstateImpairmentCharge" xlink:label="iret_RealEstateImpairmentCharge" xmlns="http://www.xbrl.org/2003/linkbase" />
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="iret_RealEstateImpairmentCharge" xlink:to="iret_RealEstateImpairmentCharge_lbl" xmlns="http://www.xbrl.org/2003/linkbase" />
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="iret_RealEstateImpairmentCharge_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase">Impairment charge relating to real estate during the period.</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="iret_RealEstateImpairmentCharge_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase">Real Estate Impairment Charge</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2009/role/negatedLabel" xlink:label="iret_RealEstateImpairmentCharge_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase">Impairment charge</label>
    <loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2016/elts/us-gaap-2016-01-31.xsd#us-gaap_SECScheduleIIIRealEstateWritedownOrReserveAmount" xlink:label="us-gaap_SECScheduleIIIRealEstateWritedownOrReserveAmount" xmlns="http://www.xbrl.org/2003/linkbase" />
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_SECScheduleIIIRealEstateWritedownOrReserveAmount" xlink:to="us-gaap_SECScheduleIIIRealEstateWritedownOrReserveAmount_lbl" xmlns="http://www.xbrl.org/2003/linkbase" />
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_SECScheduleIIIRealEstateWritedownOrReserveAmount_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase">SEC Schedule III, Real Estate, Write-down or Reserve, Amount</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2009/role/negatedLabel" xlink:label="us-gaap_SECScheduleIIIRealEstateWritedownOrReserveAmount_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase">Write down of asset and accumulated depreciation on impaired assets</label>
    <loc xlink:type="locator" xlink:href="iret-20170430.xsd#iret_DevelopmentPlacedInService" xlink:label="iret_DevelopmentPlacedInService" xmlns="http://www.xbrl.org/2003/linkbase" />
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="iret_DevelopmentPlacedInService" xlink:to="iret_DevelopmentPlacedInService_lbl" xmlns="http://www.xbrl.org/2003/linkbase" />
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="iret_DevelopmentPlacedInService_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase">Transfer of development in progress to placed in service.</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="iret_DevelopmentPlacedInService_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase">Development placed in service</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2009/role/negatedLabel" xlink:label="iret_DevelopmentPlacedInService_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase">Development placed in service</label>
    <loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2016/elts/us-gaap-2016-01-31.xsd#us-gaap_ReconciliationOfRealEstateAccumulatedDepreciationRollForward" xlink:label="us-gaap_ReconciliationOfRealEstateAccumulatedDepreciationRollForward" xmlns="http://www.xbrl.org/2003/linkbase" />
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_ReconciliationOfRealEstateAccumulatedDepreciationRollForward" xlink:to="us-gaap_ReconciliationOfRealEstateAccumulatedDepreciationRollForward_lbl" xmlns="http://www.xbrl.org/2003/linkbase" />
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_ReconciliationOfRealEstateAccumulatedDepreciationRollForward_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase">Reconciliations of accumulated depreciation/amortization [Abstract]</label>
    <loc xlink:type="locator" xlink:href="iret-20170430.xsd#iret_RealEstateAccumulatedDepreciationAdditionsDuringYearAbstract" xlink:label="iret_RealEstateAccumulatedDepreciationAdditionsDuringYearAbstract" xmlns="http://www.xbrl.org/2003/linkbase" />
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="iret_RealEstateAccumulatedDepreciationAdditionsDuringYearAbstract" xlink:to="iret_RealEstateAccumulatedDepreciationAdditionsDuringYearAbstract_lbl" xmlns="http://www.xbrl.org/2003/linkbase" />
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="iret_RealEstateAccumulatedDepreciationAdditionsDuringYearAbstract_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase">Real Estate Accumulated Depreciation additions during year [Abstract]</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="iret_RealEstateAccumulatedDepreciationAdditionsDuringYearAbstract_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase">Additions during year [Abstract]</label>
    <loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2016/elts/us-gaap-2016-01-31.xsd#us-gaap_SECScheduleIIIRealEstateAccumulatedDepreciationDepreciationExpense" xlink:label="us-gaap_SECScheduleIIIRealEstateAccumulatedDepreciationDepreciationExpense" xmlns="http://www.xbrl.org/2003/linkbase" />
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_SECScheduleIIIRealEstateAccumulatedDepreciationDepreciationExpense" xlink:to="us-gaap_SECScheduleIIIRealEstateAccumulatedDepreciationDepreciationExpense_lbl" xmlns="http://www.xbrl.org/2003/linkbase" />
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_SECScheduleIIIRealEstateAccumulatedDepreciationDepreciationExpense_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase">SEC Schedule III, Real Estate Accumulated Depreciation, Depreciation Expense</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="us-gaap_SECScheduleIIIRealEstateAccumulatedDepreciationDepreciationExpense_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase">Provisions for depreciation</label>
    <loc xlink:type="locator" xlink:href="iret-20170430.xsd#iret_RealEstateAccumulatedDepreciationDeductionsDuringYearAbstract" xlink:label="iret_RealEstateAccumulatedDepreciationDeductionsDuringYearAbstract" xmlns="http://www.xbrl.org/2003/linkbase" />
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="iret_RealEstateAccumulatedDepreciationDeductionsDuringYearAbstract" xlink:to="iret_RealEstateAccumulatedDepreciationDeductionsDuringYearAbstract_lbl" xmlns="http://www.xbrl.org/2003/linkbase" />
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="iret_RealEstateAccumulatedDepreciationDeductionsDuringYearAbstract_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase">Real estate accumulated depreciation deductions during year [Abstract]</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="iret_RealEstateAccumulatedDepreciationDeductionsDuringYearAbstract_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase">Deductions during year [Abstract]</label>
    <loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2016/elts/us-gaap-2016-01-31.xsd#us-gaap_RealEstateAccumulatedDepreciationRealEstateSold" xlink:label="us-gaap_RealEstateAccumulatedDepreciationRealEstateSold" xmlns="http://www.xbrl.org/2003/linkbase" />
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_RealEstateAccumulatedDepreciationRealEstateSold" xlink:to="us-gaap_RealEstateAccumulatedDepreciationRealEstateSold_lbl" xmlns="http://www.xbrl.org/2003/linkbase" />
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_RealEstateAccumulatedDepreciationRealEstateSold_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase">SEC Schedule III, Real Estate Accumulated Depreciation, Real Estate Sold</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2009/role/negatedLabel" xlink:label="us-gaap_RealEstateAccumulatedDepreciationRealEstateSold_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase">Accumulated depreciation on real estate sold</label>
    <loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2016/elts/us-gaap-2016-01-31.xsd#us-gaap_RealEstateAccumulatedDepreciationOtherDeductions" xlink:label="us-gaap_RealEstateAccumulatedDepreciationOtherDeductions" xmlns="http://www.xbrl.org/2003/linkbase" />
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_RealEstateAccumulatedDepreciationOtherDeductions" xlink:to="us-gaap_RealEstateAccumulatedDepreciationOtherDeductions_lbl" xmlns="http://www.xbrl.org/2003/linkbase" />
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_RealEstateAccumulatedDepreciationOtherDeductions_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase">SEC Schedule III, Real Estate Accumulated Depreciation, Other Deductions</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2009/role/negatedLabel" xlink:label="us-gaap_RealEstateAccumulatedDepreciationOtherDeductions_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase">Other</label>
    <loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2016/elts/us-gaap-2016-01-31.xsd#us-gaap_RealEstateFederalIncomeTaxBasis" xlink:label="us-gaap_RealEstateFederalIncomeTaxBasis" xmlns="http://www.xbrl.org/2003/linkbase" />
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_RealEstateFederalIncomeTaxBasis" xlink:to="us-gaap_RealEstateFederalIncomeTaxBasis_lbl" xmlns="http://www.xbrl.org/2003/linkbase" />
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_RealEstateFederalIncomeTaxBasis_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase">Net basis of real estate investments for federal income tax purposes</label>
    <loc xlink:type="locator" xlink:href="iret-20170430.xsd#iret_ImpairedPropertyWillistonNdMember" xlink:label="iret_ImpairedPropertyWillistonNdMember" xmlns="http://www.xbrl.org/2003/linkbase" />
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="iret_ImpairedPropertyWillistonNdMember" xlink:to="iret_ImpairedPropertyWillistonNdMember_lbl" xmlns="http://www.xbrl.org/2003/linkbase" />
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="iret_ImpairedPropertyWillistonNdMember_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase">Represents the impaired properties and unimproved land in Williston, ND.</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="iret_ImpairedPropertyWillistonNdMember_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase">Impaired Property Williston Nd [Member]</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="iret_ImpairedPropertyWillistonNdMember_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase">Williston, ND - property [Member]</label>
    <loc xlink:type="locator" xlink:href="iret-20170430.xsd#iret_ImpairedPropertyOneWillistonNdMember" xlink:label="iret_ImpairedPropertyOneWillistonNdMember" xmlns="http://www.xbrl.org/2003/linkbase" />
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="iret_ImpairedPropertyOneWillistonNdMember" xlink:to="iret_ImpairedPropertyOneWillistonNdMember_lbl" xmlns="http://www.xbrl.org/2003/linkbase" />
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="iret_ImpairedPropertyOneWillistonNdMember_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase">Represents the first of three impaired multifamily properties in Williston, ND.</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="iret_ImpairedPropertyOneWillistonNdMember_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase">Impaired Property One Williston Nd [Member]</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="iret_ImpairedPropertyOneWillistonNdMember_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase">Williston, ND - property 1 [Member]</label>
    <loc xlink:type="locator" xlink:href="iret-20170430.xsd#iret_ImpairedPropertyTwoWillistonNdMember" xlink:label="iret_ImpairedPropertyTwoWillistonNdMember" xmlns="http://www.xbrl.org/2003/linkbase" />
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="iret_ImpairedPropertyTwoWillistonNdMember" xlink:to="iret_ImpairedPropertyTwoWillistonNdMember_lbl" xmlns="http://www.xbrl.org/2003/linkbase" />
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="iret_ImpairedPropertyTwoWillistonNdMember_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase">Represents the second of three impaired multifamily properties in Williston, ND.</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="iret_ImpairedPropertyTwoWillistonNdMember_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase">Impaired Property Two Williston Nd [Member]</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="iret_ImpairedPropertyTwoWillistonNdMember_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase">Williston, ND - property 2 [Member]</label>
    <loc xlink:type="locator" xlink:href="iret-20170430.xsd#iret_ImpairedPropertyThreeWillistonNdMember" xlink:label="iret_ImpairedPropertyThreeWillistonNdMember" xmlns="http://www.xbrl.org/2003/linkbase" />
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="iret_ImpairedPropertyThreeWillistonNdMember" xlink:to="iret_ImpairedPropertyThreeWillistonNdMember_lbl" xmlns="http://www.xbrl.org/2003/linkbase" />
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="iret_ImpairedPropertyThreeWillistonNdMember_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase">Represents the third of three impaired multifamily properties in Williston, ND.</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="iret_ImpairedPropertyThreeWillistonNdMember_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase">Impaired Property Three Williston Nd [Member]</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="iret_ImpairedPropertyThreeWillistonNdMember_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase">Williston, ND - property 3 [Member]</label>
    <loc xlink:type="locator" xlink:href="iret-20170430.xsd#iret_ImpairedPropertyMinotNDMember" xlink:label="iret_ImpairedPropertyMinotNDMember" xmlns="http://www.xbrl.org/2003/linkbase" />
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="iret_ImpairedPropertyMinotNDMember" xlink:to="iret_ImpairedPropertyMinotNDMember_lbl" xmlns="http://www.xbrl.org/2003/linkbase" />
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="iret_ImpairedPropertyMinotNDMember_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase">Represents the impaired property and unimproved land in Minot, ND.</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="iret_ImpairedPropertyMinotNDMember_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase">Impaired Property Minot N D [Member]</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="iret_ImpairedPropertyMinotNDMember_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase">Minot, ND - property [Member]</label>
    <loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2016/elts/us-gaap-2016-01-31.xsd#us-gaap_StatementScenarioAxis" xlink:label="us-gaap_StatementScenarioAxis" xmlns="http://www.xbrl.org/2003/linkbase" />
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_StatementScenarioAxis" xlink:to="us-gaap_StatementScenarioAxis_lbl" xmlns="http://www.xbrl.org/2003/linkbase" />
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_StatementScenarioAxis_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase">Scenario [Axis]</label>
    <loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2016/elts/us-gaap-2016-01-31.xsd#us-gaap_ScenarioUnspecifiedDomain" xlink:label="us-gaap_ScenarioUnspecifiedDomain" xmlns="http://www.xbrl.org/2003/linkbase" />
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_ScenarioUnspecifiedDomain" xlink:to="us-gaap_ScenarioUnspecifiedDomain_lbl" xmlns="http://www.xbrl.org/2003/linkbase" />
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_ScenarioUnspecifiedDomain_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase">Scenario Unspecified [Domain]</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="us-gaap_ScenarioUnspecifiedDomain_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase">Scenario, Unspecified [Domain]</label>
    <loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2016/elts/us-gaap-2016-01-31.xsd#us-gaap_ScenarioPreviouslyReportedMember" xlink:label="us-gaap_ScenarioPreviouslyReportedMember" xmlns="http://www.xbrl.org/2003/linkbase" />
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_ScenarioPreviouslyReportedMember" xlink:to="us-gaap_ScenarioPreviouslyReportedMember_lbl" xmlns="http://www.xbrl.org/2003/linkbase" />
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_ScenarioPreviouslyReportedMember_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase">Scenario Previously Reported [Member]</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="us-gaap_ScenarioPreviouslyReportedMember_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase">Scenario, Previously Reported [Member]</label>
    <loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2016/elts/us-gaap-2016-01-31.xsd#us-gaap_RestatementAdjustmentMember" xlink:label="us-gaap_RestatementAdjustmentMember" xmlns="http://www.xbrl.org/2003/linkbase" />
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_RestatementAdjustmentMember" xlink:to="us-gaap_RestatementAdjustmentMember_lbl" xmlns="http://www.xbrl.org/2003/linkbase" />
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_RestatementAdjustmentMember_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase">Restatement Adjustment [Member]</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="us-gaap_RestatementAdjustmentMember_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase">Restatement Adjustment [Member]</label>
    <loc xlink:type="locator" xlink:href="iret-20170430.xsd#iret_BMOLineOfCreditMember" xlink:label="iret_BMOLineOfCreditMember" xmlns="http://www.xbrl.org/2003/linkbase" />
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="iret_BMOLineOfCreditMember" xlink:to="iret_BMOLineOfCreditMember_lbl" xmlns="http://www.xbrl.org/2003/linkbase" />
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="iret_BMOLineOfCreditMember_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase">Represents the credit agreement for the unsecured, variable interest rate BMO Line of Credit.</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="iret_BMOLineOfCreditMember_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase">B M O Line Of Credit [Member]</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="iret_BMOLineOfCreditMember_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase">BMO Line of Credit [Member]</label>
    <loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2016/elts/us-gaap-2016-01-31.xsd#us-gaap_VariableRateAxis" xlink:label="us-gaap_VariableRateAxis" xmlns="http://www.xbrl.org/2003/linkbase" />
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_VariableRateAxis" xlink:to="us-gaap_VariableRateAxis_lbl" xmlns="http://www.xbrl.org/2003/linkbase" />
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_VariableRateAxis_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase">Variable Rate [Axis]</label>
    <loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2016/elts/us-gaap-2016-01-31.xsd#us-gaap_VariableRateDomain" xlink:label="us-gaap_VariableRateDomain" xmlns="http://www.xbrl.org/2003/linkbase" />
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_VariableRateDomain" xlink:to="us-gaap_VariableRateDomain_lbl" xmlns="http://www.xbrl.org/2003/linkbase" />
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_VariableRateDomain_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase">Variable Rate [Domain]</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="us-gaap_VariableRateDomain_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase">Variable Rate [Domain]</label>
    <loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2016/elts/us-gaap-2016-01-31.xsd#us-gaap_BaseRateMember" xlink:label="us-gaap_BaseRateMember" xmlns="http://www.xbrl.org/2003/linkbase" />
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_BaseRateMember" xlink:to="us-gaap_BaseRateMember_lbl" xmlns="http://www.xbrl.org/2003/linkbase" />
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_BaseRateMember_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase">Base Rate [Member]</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="us-gaap_BaseRateMember_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase">Base Rate [Member]</label>
    <loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2016/elts/us-gaap-2016-01-31.xsd#us-gaap_LondonInterbankOfferedRateLIBORMember" xlink:label="us-gaap_LondonInterbankOfferedRateLIBORMember" xmlns="http://www.xbrl.org/2003/linkbase" />
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_LondonInterbankOfferedRateLIBORMember" xlink:to="us-gaap_LondonInterbankOfferedRateLIBORMember_lbl" xmlns="http://www.xbrl.org/2003/linkbase" />
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_LondonInterbankOfferedRateLIBORMember_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase">London Interbank Offered Rate L I B O R [Member]</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="us-gaap_LondonInterbankOfferedRateLIBORMember_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase">London Interbank Offered Rate (LIBOR) [Member]</label>
    <loc xlink:type="locator" xlink:href="iret-20170430.xsd#iret_MonticelloCrossingsPhaseIMember" xlink:label="iret_MonticelloCrossingsPhaseIMember" xmlns="http://www.xbrl.org/2003/linkbase" />
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="iret_MonticelloCrossingsPhaseIMember" xlink:to="iret_MonticelloCrossingsPhaseIMember_lbl" xmlns="http://www.xbrl.org/2003/linkbase" />
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="iret_MonticelloCrossingsPhaseIMember_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase">RealEstateAndAccumulatedDepreciationDescriptionOfPropertyAxis</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="iret_MonticelloCrossingsPhaseIMember_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase">Monticello Crossings Phase I [Member]</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="iret_MonticelloCrossingsPhaseIMember_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase">Monticello Crossings - Monticello, MN</label>
    <loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2016/elts/us-gaap-2016-01-31.xsd#us-gaap_DisposalGroupDisposedOfBySaleNotDiscontinuedOperationsMember" xlink:label="us-gaap_DisposalGroupDisposedOfBySaleNotDiscontinuedOperationsMember" xmlns="http://www.xbrl.org/2003/linkbase" />
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_DisposalGroupDisposedOfBySaleNotDiscontinuedOperationsMember" xlink:to="us-gaap_DisposalGroupDisposedOfBySaleNotDiscontinuedOperationsMember_lbl" xmlns="http://www.xbrl.org/2003/linkbase" />
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_DisposalGroupDisposedOfBySaleNotDiscontinuedOperationsMember_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase">Disposal Group Disposed Of By Sale Not Discontinued Operations [Member]</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="us-gaap_DisposalGroupDisposedOfBySaleNotDiscontinuedOperationsMember_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase">Disposed of by Sale [Member]</label>
    <loc xlink:type="locator" xlink:href="iret-20170430.xsd#iret_PineconeVillasSartellMnMember" xlink:label="iret_PineconeVillasSartellMnMember" xmlns="http://www.xbrl.org/2003/linkbase" />
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="iret_PineconeVillasSartellMnMember" xlink:to="iret_PineconeVillasSartellMnMember_lbl" xmlns="http://www.xbrl.org/2003/linkbase" />
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="iret_PineconeVillasSartellMnMember_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase">Pinecone Villas - Sartell, MN for development, expansion and renovation projects underway or recently completed.</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="iret_PineconeVillasSartellMnMember_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase">Pinecone Villas Sartell Mn [Member]</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="iret_PineconeVillasSartellMnMember_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase">Pinecone Villas - Sartell, MN [Member]</label>
    <loc xlink:type="locator" xlink:href="iret-20170430.xsd#iret_SpringCreekSeniorHousingPropertiesMember" xlink:label="iret_SpringCreekSeniorHousingPropertiesMember" xmlns="http://www.xbrl.org/2003/linkbase" />
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="iret_SpringCreekSeniorHousingPropertiesMember" xlink:to="iret_SpringCreekSeniorHousingPropertiesMember_lbl" xmlns="http://www.xbrl.org/2003/linkbase" />
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="iret_SpringCreekSeniorHousingPropertiesMember_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase">Spring Creek senior - housing properties.</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="iret_SpringCreekSeniorHousingPropertiesMember_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase">Spring Creek Senior Housing Properties [Member]</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="iret_SpringCreekSeniorHousingPropertiesMember_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase">Idaho Spring Creek Senior Housing Properties [Member]</label>
    <loc xlink:type="locator" xlink:href="iret-20170430.xsd#iret_FiveEdgewoodVistaSeniorHousingPropertiesMember" xlink:label="iret_FiveEdgewoodVistaSeniorHousingPropertiesMember" xmlns="http://www.xbrl.org/2003/linkbase" />
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="iret_FiveEdgewoodVistaSeniorHousingPropertiesMember" xlink:to="iret_FiveEdgewoodVistaSeniorHousingPropertiesMember_lbl" xmlns="http://www.xbrl.org/2003/linkbase" />
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="iret_FiveEdgewoodVistaSeniorHousingPropertiesMember_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase">The properties dispositions included in this portfolio disposition are: Edgewood Vista Bismarck, Edgewood Vista Brainerd, Edgewood Vista East Grand Forks, Edgewood Vista Fargo and Edgewood Vista Spearfish.</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="iret_FiveEdgewoodVistaSeniorHousingPropertiesMember_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase">Five Edgewood Vista Senior Housing Properties [Member]</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="iret_FiveEdgewoodVistaSeniorHousingPropertiesMember_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase">5 Edgewood Vista Senior Housing Properties</label>
    <loc xlink:type="locator" xlink:href="iret-20170430.xsd#iret_WyomingSeniorHousingPortfolioMember" xlink:label="iret_WyomingSeniorHousingPortfolioMember" xmlns="http://www.xbrl.org/2003/linkbase" />
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="iret_WyomingSeniorHousingPortfolioMember" xlink:to="iret_WyomingSeniorHousingPortfolioMember_lbl" xmlns="http://www.xbrl.org/2003/linkbase" />
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="iret_WyomingSeniorHousingPortfolioMember_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase">Refers to Wyoming senior housing portfolio.</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="iret_WyomingSeniorHousingPortfolioMember_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase">Wyoming Senior Housing Portfolio [Member]</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="iret_WyomingSeniorHousingPortfolioMember_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase">Wyoming Senior Housing Portfolio [Member]</label>
    <loc xlink:type="locator" xlink:href="iret-20170430.xsd#iret_NineEdgewoodVistaSeniorHousingPropertiesMember" xlink:label="iret_NineEdgewoodVistaSeniorHousingPropertiesMember" xmlns="http://www.xbrl.org/2003/linkbase" />
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="iret_NineEdgewoodVistaSeniorHousingPropertiesMember" xlink:to="iret_NineEdgewoodVistaSeniorHousingPropertiesMember_lbl" xmlns="http://www.xbrl.org/2003/linkbase" />
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="iret_NineEdgewoodVistaSeniorHousingPropertiesMember_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase">The properties included in this portfolio are: Edgewood Vista Belgrade, Edgewood Vista Billings, Edgewood Vista Columbus, Edgewood Vista Fremont, Edgewood Vista Grand Island, Edgewood Vista Minot, Edgewood Vista Missoula, Edgewood Vista Norfolk and Edgewood Vista Sioux Falls.</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="iret_NineEdgewoodVistaSeniorHousingPropertiesMember_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase">Nine Edgewood Vista Senior Housing Properties [Member]</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="iret_NineEdgewoodVistaSeniorHousingPropertiesMember_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase">9 Edgewood Vista Senior Housing Properties [Member]</label>
    <loc xlink:type="locator" xlink:href="iret-20170430.xsd#iret_FourEdgewoodVistaSeniorHousingPropertiesMember" xlink:label="iret_FourEdgewoodVistaSeniorHousingPropertiesMember" xmlns="http://www.xbrl.org/2003/linkbase" />
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="iret_FourEdgewoodVistaSeniorHousingPropertiesMember" xlink:to="iret_FourEdgewoodVistaSeniorHousingPropertiesMember_lbl" xmlns="http://www.xbrl.org/2003/linkbase" />
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="iret_FourEdgewoodVistaSeniorHousingPropertiesMember_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase">The properties included in this portfolio are: Edgewood Vista Hastings, Edgewood Vista Kalispell, Edgewood Vista Omaha and Edgewood Vista Virginia.</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="iret_FourEdgewoodVistaSeniorHousingPropertiesMember_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase">Four Edgewood Vista Senior Housing Properties [Member]</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="iret_FourEdgewoodVistaSeniorHousingPropertiesMember_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase">4 Edgewood Vista Senior Housing Properties [Member]</label>
    <loc xlink:type="locator" xlink:href="iret-20170430.xsd#iret_HealtheastStJohnAndWoodwindsMaplewoodAndWoodburyMnMember" xlink:label="iret_HealtheastStJohnAndWoodwindsMaplewoodAndWoodburyMnMember" xmlns="http://www.xbrl.org/2003/linkbase" />
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="iret_HealtheastStJohnAndWoodwindsMaplewoodAndWoodburyMnMember" xlink:to="iret_HealtheastStJohnAndWoodwindsMaplewoodAndWoodburyMnMember_lbl" xmlns="http://www.xbrl.org/2003/linkbase" />
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="iret_HealtheastStJohnAndWoodwindsMaplewoodAndWoodburyMnMember_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase">Healtheast St John &amp; Woodwinds - Maplewood &amp; Woodbury, MN for development, expansion and renovation projects underway or recently completed.</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="iret_HealtheastStJohnAndWoodwindsMaplewoodAndWoodburyMnMember_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase">Healtheast St John And Woodwinds Maplewood And Woodbury Mn [Member]</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="iret_HealtheastStJohnAndWoodwindsMaplewoodAndWoodburyMnMember_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase">Healtheast St John &amp; Woodwinds - Maplewood &amp; Woodbury, MN [Member]</label>
    <loc xlink:type="locator" xlink:href="iret-20170430.xsd#iret_Sartell200023RdStreetSouthSartellMnMember" xlink:label="iret_Sartell200023RdStreetSouthSartellMnMember" xmlns="http://www.xbrl.org/2003/linkbase" />
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="iret_Sartell200023RdStreetSouthSartellMnMember" xlink:to="iret_Sartell200023RdStreetSouthSartellMnMember_lbl" xmlns="http://www.xbrl.org/2003/linkbase" />
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="iret_Sartell200023RdStreetSouthSartellMnMember_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase">Sartell 2000 23rd Street South - Sartell, MN for development, expansion and renovation projects underway or recently completed.</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="iret_Sartell200023RdStreetSouthSartellMnMember_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase">Sartell200023 Rd Street South Sartell Mn [Member]</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="iret_Sartell200023RdStreetSouthSartellMnMember_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase">Sartell 2000 23rd Street South - Sartell, MN [Member]</label>
    <loc xlink:type="locator" xlink:href="iret-20170430.xsd#iret_LegendsAtHeritagePlaceSartellMnMember" xlink:label="iret_LegendsAtHeritagePlaceSartellMnMember" xmlns="http://www.xbrl.org/2003/linkbase" />
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="iret_LegendsAtHeritagePlaceSartellMnMember" xlink:to="iret_LegendsAtHeritagePlaceSartellMnMember_lbl" xmlns="http://www.xbrl.org/2003/linkbase" />
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="iret_LegendsAtHeritagePlaceSartellMnMember_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase">Legends at Heritage Place - Sartell, MN for development, expansion and renovation projects underway or recently completed.</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="iret_LegendsAtHeritagePlaceSartellMnMember_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase">Legends At Heritage Place Sartell Mn [Member]</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="iret_LegendsAtHeritagePlaceSartellMnMember_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase">Legends at Heritage Place - Sartell, MN [Member]</label>
    <loc xlink:type="locator" xlink:href="iret-20170430.xsd#iret_StoneContainerFargoNdMember" xlink:label="iret_StoneContainerFargoNdMember" xmlns="http://www.xbrl.org/2003/linkbase" />
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="iret_StoneContainerFargoNdMember" xlink:to="iret_StoneContainerFargoNdMember_lbl" xmlns="http://www.xbrl.org/2003/linkbase" />
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="iret_StoneContainerFargoNdMember_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase">Stone Container - Fargo, ND for development, expansion and renovation projects underway or recently completed.</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="iret_StoneContainerFargoNdMember_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase">Stone Container Fargo Nd [Member]</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="iret_StoneContainerFargoNdMember_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase">Stone Container - Fargo, ND [Member]</label>
    <loc xlink:type="locator" xlink:href="iret-20170430.xsd#iret_GrandForksCarmikeGrandForksNdMember" xlink:label="iret_GrandForksCarmikeGrandForksNdMember" xmlns="http://www.xbrl.org/2003/linkbase" />
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="iret_GrandForksCarmikeGrandForksNdMember" xlink:to="iret_GrandForksCarmikeGrandForksNdMember_lbl" xmlns="http://www.xbrl.org/2003/linkbase" />
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="iret_GrandForksCarmikeGrandForksNdMember_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase">Grand Forks Carmike - Grand Forks, ND for development, expansion and renovation projects underway or recently completed.</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="iret_GrandForksCarmikeGrandForksNdMember_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase">Grand Forks Carmike Grand Forks Nd [Member]</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="iret_GrandForksCarmikeGrandForksNdMember_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase">Grand Forks Carmike - Grand Forks, ND [Member]</label>
    <loc xlink:type="locator" xlink:href="iret-20170430.xsd#iret_GeorgetownSquareGrandChuteWiMember" xlink:label="iret_GeorgetownSquareGrandChuteWiMember" xmlns="http://www.xbrl.org/2003/linkbase" />
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="iret_GeorgetownSquareGrandChuteWiMember" xlink:to="iret_GeorgetownSquareGrandChuteWiMember_lbl" xmlns="http://www.xbrl.org/2003/linkbase" />
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="iret_GeorgetownSquareGrandChuteWiMember_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase">Georgetown Square - Grand Chute, WI for development, expansion and renovation projects underway or recently completed.</label>
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