XML 77 R64.htm IDEA: XBRL DOCUMENT
v2.4.0.8

COMMON AND PREFERRED SHARES OF BENEFICIAL INTEREST AND EQUITY (Details) (USD $) | 12 Months Ended | 3 Months Ended | 12 Months Ended |  | 12 Months Ended |  | 12 Months Ended
--- | --- | --- | --- | --- | --- | --- | ---
Apr. 30, 2014 | Apr. 30, 2013 | Apr. 30, 2012 | Apr. 30, 2013 Common Stock [Member] | Apr. 30, 2014 Common Stock [Member] | Apr. 30, 2013 Common Stock [Member] | Apr. 30, 2013 Preferred Class A [Member] | Apr. 30, 2014 Preferred Class A [Member] | Apr. 30, 2013 Preferred Class B [Member] | Apr. 30, 2012 Preferred Class B [Member] | Apr. 30, 2014 Preferred Class B [Member] | Apr. 30, 2014 Distribution Reinvestment and Share Purchase Plan [Member] | Apr. 30, 2013 Distribution Reinvestment and Share Purchase Plan [Member] | Apr. 30, 2014 Distribution Reinvestment and Share Purchase Plan [Member] Voluntary cash contributions [Member] | Apr. 30, 2013 Distribution Reinvestment and Share Purchase Plan [Member] Voluntary cash contributions [Member] | Apr. 30, 2014 Distribution Reinvestment and Share Purchase Plan [Member] Reinvested distributions [Member] | Apr. 30, 2013 Distribution Reinvestment and Share Purchase Plan [Member] Reinvested distributions [Member]
Distribution Reinvestment and Share Purchase Plan [Abstract] |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Shares issued (in shares) |  |  |  |  |  |  | 6,000,000 | 0 | 300,000 |  |  |  |  |  | 6,600,000 | 5,300,000 | 4,800,000 | 3,800,000 | 1,800,000 | 1,500,000
Shares issued | $ 112,000 | [1] | $ 55,846,000 | [1] | $ 24,870,000 | [1] |  |  |  |  |  |  |  |  | $ 55,800,000 | $ 43,100,000 | $ 41,200,000 | $ 30,700,000 | $ 14,600,000 | $ 12,400,000
Discount rate on shares (in hundredths) | 3.00% |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Conversion of Units to Common Shares. [Abstract] |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Units converted to common stock (in shares) | 903,000 |  | 317,000 |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Units converted to common stock | 4,400,000 |  | 1,600,000 |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Issuance of Common Shares [Abstract] |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Offering price (in dollars per share) |  |  |  |  |  |  | 9.25 |  | 7.24 |  |  |  |  |  |  |  |  |  |  |
Proceeds from issuance of common shares | 0 |  | 55,433,000 |  | 24,413,000 |  | 53,000,000 |  | 2,100,000 |  |  |  |  |  |  |  |  |  |  |
Series A Cumulative Redeemable Preferred Shares of Beneficial Interest [Abstract] |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Preferred shares issued (in shares) |  |  |  |  |  |  |  |  |  | 1,150,000 | 1,150,000 | 4,600,000 |  | 4,600,000 |  |  |  |  |  |
Sale of stock, price per share (in dollars per share) |  |  |  |  |  |  |  |  |  | $ 25.00 |  | $ 25.00 |  |  |  |  |  |  |  |
Proceeds from issuance of cumulative redeemable preferred shares |  |  |  |  |  |  |  |  |  | 27,300,000 |  | 111,200,000 |  |  |  |  |  |  |  |
Preferred shares liquidation per annum (in dollars per share) |  |  |  |  |  |  |  |  |  | $ 2.0625 |  | $ 1.9875 |  |  |  |  |  |  |  |
Distribution rate percentage (in hundredths) |  |  |  |  |  |  |  |  |  | 8.25% |  | 7.95% |  |  |  |  |  |  |  |
Preferred shares liquidation (in dollars per share) |  |  |  |  |  |  |  |  |  | $ 25.00 |  | $ 25.00 |  |  |  |  |  |  |  |
Preferred shares liquidation preference |  |  |  |  |  |  |  |  |  |  |  | 115,000,000 |  |  |  |  |  |  |  |
Debt repaid with proceeds from stock issuance |  |  |  |  |  |  |  |  |  |  |  |  | 34,500,000 |  |  |  |  |  |  |
Original outstanding borrowing under line of credit |  |  |  |  |  |  |  |  |  |  |  | 44,500,000 |  |  |  |  |  |  |  |
Line of credit facility, amount outstanding | 22,500,000 |  | 10,000,000 |  |  |  |  |  |  |  |  | 10,000,000 |  |  |  |  |  |  |  |
Unused capacity, line of credit |  |  |  |  |  |  |  |  |  |  |  | 35,000,000 |  |  |  |  |  |  |  |
Aggregate offering price |  |  |  |  |  |  |  | $ 75,000,000 |  |  |  |  |  |  |  |  |  |  |  |
[1] | (as revised)

X
- Definition The discount rate from market value on purchase date that participants pay for shares. + References No definition available. + Details
Name: | iret_CommonSharesDiscountOnShares
Namespace Prefix: | iret_
Data Type: | num:percentItemType
Balance Type: | na
Period Type: | instant

X
- Details
Name: | iret_ConversionOfUnitsToCommonSharesAbstract
Namespace Prefix: | iret_
Data Type: | xbrli:stringItemType
Balance Type: | na
Period Type: | duration

X
- Details
Name: | iret_CumulativeRedeemablePreferredSharesOfBeneficialInterestAbstract
Namespace Prefix: | iret_
Data Type: | xbrli:stringItemType
Balance Type: | na
Period Type: | duration

X
- Details
Name: | iret_DistributionReinvestmentAndSharePurchasePlanAbstract
Namespace Prefix: | iret_
Data Type: | xbrli:stringItemType
Balance Type: | na
Period Type: | duration

X
- Definition Aggregate gross sales price of common shares of beneficial interest allowed to be sold related to at-the-market equity program. + References No definition available. + Details
Name: | iret_IretAggregateGrossSalesPriceOfCommonSharesOfBeneficialInterestAllowedToBeSold
Namespace Prefix: | iret_
Data Type: | xbrli:monetaryItemType
Balance Type: | na
Period Type: | duration

X
- Details
Name: | iret_IssuanceOfCommonSharesAbstract
Namespace Prefix: | iret_
Data Type: | xbrli:stringItemType
Balance Type: | na
Period Type: | duration

X
- Definition The original amount borrowed under the credit facility before the extinguishment of debt by equity issuance. + References No definition available. + Details
Name: | iret_LineOfCreditFacilityOriginalAmountOutstanding
Namespace Prefix: | iret_
Data Type: | xbrli:monetaryItemType
Balance Type: | credit
Period Type: | instant

X
- Definition 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. + References No definition available. + Details
Name: | iret_PreferredStockLiquidationPreferencePerSharePerAnnum
Namespace Prefix: | iret_
Data Type: | num:perShareItemType
Balance Type: | na
Period Type: | instant

X
- Definition Per share amount received by subsidiary or equity investee for each share of preferred stock issued or sold in the stock transaction. + References No definition available. + Details
Name: | iret_SaleOfPreferredStockPricePerShare
Namespace Prefix: | iret_
Data Type: | num:perShareItemType
Balance Type: | na
Period Type: | instant

X
- Definition Per share amount received by subsidiary or equity investee for each share of common stock issued or sold in the stock transaction. + References No definition available. + Details
Name: | iret_SaleOfStockPricePerShare1
Namespace Prefix: | iret_
Data Type: | xbrli:monetaryItemType
Balance Type: | na
Period Type: | duration

X
- Definition The 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. + References Reference 1: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 230 -SubTopic 10 -Section 50 -Paragraph 5 -URI http://asc.fasb.org/extlink&oid=6367179&loc=d3e4332-108586 Reference 2: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 230 -SubTopic 10 -Section 50 -Paragraph 4 -URI http://asc.fasb.org/extlink&oid=6367179&loc=d3e4313-108586 Reference 3: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 230 -SubTopic 10 -Section 50 -Paragraph 3 -URI http://asc.fasb.org/extlink&oid=6367179&loc=d3e4304-108586 + Details
Name: | us-gaap_ConversionOfStockAmountConverted1
Namespace Prefix: | us-gaap_
Data Type: | xbrli:monetaryItemType
Balance Type: | debit
Period Type: | duration

X
- Definition The number of shares 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. + References Reference 1: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 230 -SubTopic 10 -Section 50 -Paragraph 5 -URI http://asc.fasb.org/extlink&oid=6367179&loc=d3e4332-108586 Reference 2: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 230 -SubTopic 10 -Section 50 -Paragraph 4 -URI http://asc.fasb.org/extlink&oid=6367179&loc=d3e4313-108586 Reference 3: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 230 -SubTopic 10 -Section 50 -Paragraph 3 -URI http://asc.fasb.org/extlink&oid=6367179&loc=d3e4304-108586 + Details
Name: | us-gaap_ConversionOfStockSharesConverted1
Namespace Prefix: | us-gaap_
Data Type: | xbrli:sharesItemType
Balance Type: | na
Period Type: | duration

X
- Definition The carrying value as of the balance sheet date of the current and noncurrent portions of long-term obligations drawn from a line of credit, which is a bank's commitment to make loans up to a specific amount. Examples of items that might be included in the application of this element may consist of letters of credit, standby letters of credit, and revolving credit arrangements, under which borrowings can be made up to a 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. Includes short-term obligations that would normally be classified as current liabilities but for which (a) postbalance sheet date issuance of a long term obligation to refinance the short term obligation on a long term basis, or (b) the enterprise has entered into a financing agreement that clearly permits the enterprise to refinance the short-term obligation on a long term basis and the following conditions are met (1) the agreement does not expire within 1 year and is not cancelable by the lender except for violation of an objectively determinable provision, (2) no violation exists at the BS date, and (3) the lender has entered into the financing agreement is expected to be financially capable of honoring the agreement. + References Reference 1: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 942 -SubTopic 210 -Section S99 -Paragraph 1 -Subparagraph (SX 210.9-03.16) -URI http://asc.fasb.org/extlink&oid=6876686&loc=d3e534808-122878 Reference 2: http://www.xbrl.org/2003/role/presentationRef -Publisher SEC -Name Regulation S-X (SX) -Number 210 -Section 02 -Paragraph 19, 20, 22 -Article 5 Reference 3: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 944 -SubTopic 210 -Section S99 -Paragraph 1 -Subparagraph (SX 210.7-03.16) -URI http://asc.fasb.org/extlink&oid=6879938&loc=d3e572229-122910 + Details
Name: | us-gaap_LineOfCredit
Namespace Prefix: | us-gaap_
Data Type: | xbrli:monetaryItemType
Balance Type: | credit
Period Type: | instant

X
- Definition Amount of borrowing capacity currently available under the credit facility (current borrowing capacity less the amount of borrowings outstanding). + References Reference 1: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 210 -SubTopic 10 -Section S99 -Paragraph 1 -Subparagraph (SX 210.5-02.19(b),22(b)) -URI http://asc.fasb.org/extlink&oid=6877327&loc=d3e13212-122682 Reference 2: http://www.xbrl.org/2003/role/presentationRef -Publisher SEC -Name Regulation S-X (SX) -Number 210 -Section 02 -Paragraph 19, 22 -Article 5 + Details
Name: | us-gaap_LineOfCreditFacilityRemainingBorrowingCapacity
Namespace Prefix: | us-gaap_
Data Type: | xbrli:monetaryItemType
Balance Type: | credit
Period Type: | instant

X
- Definition The percentage rate used to calculate dividend payments on preferred stock. + References No definition available. + Details
Name: | us-gaap_PreferredStockDividendRatePercentage
Namespace Prefix: | us-gaap_
Data Type: | num:percentItemType
Balance Type: | na
Period Type: | duration

X
- Definition 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. The liquidation preference is the difference between the preference in liquidation and the par or stated values of the share. + References Reference 1: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 505 -SubTopic 10 -Section 50 -Paragraph 3 -URI http://asc.fasb.org/extlink&oid=6928386&loc=d3e21475-112644 Reference 2: http://www.xbrl.org/2003/role/presentationRef -Publisher SEC -Name Regulation S-X (SX) -Number 210 -Section 02 -Paragraph 29 -Article 5 Reference 3: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 505 -SubTopic 10 -Section 50 -Paragraph 4 -URI http://asc.fasb.org/extlink&oid=6928386&loc=d3e21484-112644 Reference 4: http://www.xbrl.org/2003/role/presentationRef -Publisher SEC -Name Regulation S-X (SX) -Number 210 -Section 08 -Paragraph d -Article 4 Reference 5: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 235 -SubTopic 10 -Section S99 -Paragraph 1 -Subparagraph (SX 210.4-08.(d)(1)) -URI http://asc.fasb.org/extlink&oid=26873400&loc=d3e23780-122690 + Details
Name: | us-gaap_PreferredStockLiquidationPreference
Namespace Prefix: | us-gaap_
Data Type: | num:perShareItemType
Balance Type: | na
Period Type: | instant

X
- Definition Value of the difference between preference in liquidation and the par or stated values of the preferred shares. + References No definition available. + Details
Name: | us-gaap_PreferredStockLiquidationPreferenceValue
Namespace Prefix: | us-gaap_
Data Type: | xbrli:monetaryItemType
Balance Type: | credit
Period Type: | instant

X
- Definition Total number of nonredeemable preferred shares (or preferred stock redeemable solely at the option of the issuer) issued to shareholders (includes related preferred shares that were issued, repurchased, and remain in the treasury). May be all or portion of the number of preferred shares authorized. Excludes preferred shares that are classified as debt. + References Reference 1: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 210 -SubTopic 10 -Section S99 -Paragraph 1 -Subparagraph (SX 210.5-02.28) -URI http://asc.fasb.org/extlink&oid=6877327&loc=d3e13212-122682 Reference 2: http://www.xbrl.org/2003/role/presentationRef -Publisher SEC -Name Regulation S-X (SX) -Number 210 -Section 02 -Paragraph 29 -Article 5 + Details
Name: | us-gaap_PreferredStockSharesIssued
Namespace Prefix: | us-gaap_
Data Type: | xbrli:sharesItemType
Balance Type: | na
Period Type: | instant

X
- Definition The cash inflow from the additional capital contribution to the entity. + References Reference 1: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Glossary Financing Activities -URI http://asc.fasb.org/extlink&oid=6513228 Reference 2: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 230 -SubTopic 10 -Section 45 -Paragraph 14 -Subparagraph (a) -URI http://asc.fasb.org/extlink&oid=31042434&loc=d3e3255-108585 + Details
Name: | us-gaap_ProceedsFromIssuanceOfCommonStock
Namespace Prefix: | us-gaap_
Data Type: | xbrli:monetaryItemType
Balance Type: | debit
Period Type: | duration

X
- Definition The cash inflow from issuance of preferred stock that is classified as callable. + References Reference 1: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Glossary Financing Activities -URI http://asc.fasb.org/extlink&oid=6513228 Reference 2: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 230 -SubTopic 10 -Section 45 -Paragraph 14 -Subparagraph (a) -URI http://asc.fasb.org/extlink&oid=31042434&loc=d3e3255-108585 + Details
Name: | us-gaap_ProceedsFromIssuanceOfRedeemablePreferredStock
Namespace Prefix: | us-gaap_
Data Type: | xbrli:monetaryItemType
Balance Type: | debit
Period Type: | duration

X
- Definition Amount of cash outflow for payment of an obligation from a lender, including but not limited to, letter of credit, standby letter of credit and revolving credit arrangements. + References Reference 1: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 235 -SubTopic 10 -Section S99 -Paragraph 1 -Subparagraph (SX 210.4-08.(f)) -URI http://asc.fasb.org/extlink&oid=26873400&loc=d3e23780-122690 Reference 2: http://www.xbrl.org/2003/role/presentationRef -Publisher SEC -Name Regulation S-X (SX) -Number 210 -Section 08 -Paragraph f -Article 4 Reference 3: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 230 -SubTopic 10 -Section 45 -Paragraph 15 -Subparagraph (b) -URI http://asc.fasb.org/extlink&oid=31042434&loc=d3e3291-108585 Reference 4: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Glossary Financing Activities -URI http://asc.fasb.org/extlink&oid=6513228 + Details
Name: | us-gaap_RepaymentsOfLinesOfCredit
Namespace Prefix: | us-gaap_
Data Type: | xbrli:monetaryItemType
Balance Type: | credit
Period Type: | duration

X
- Definition Number of new stock issued during the period. + References Reference 1: http://www.xbrl.org/2003/role/presentationRef -Publisher SEC -Name Regulation S-X (SX) -Number 210 -Section 04 -Article 3 Reference 2: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 505 -SubTopic 10 -Section 50 -Paragraph 2 -URI http://asc.fasb.org/extlink&oid=6928386&loc=d3e21463-112644 Reference 3: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 505 -SubTopic 10 -Section S99 -Paragraph 1 -Subparagraph (SX 210.3-04) -URI http://asc.fasb.org/extlink&oid=27012166&loc=d3e187085-122770 Reference 4: http://www.xbrl.org/2003/role/presentationRef -Publisher SEC -Name Regulation S-X (SX) -Number 210 -Section 02 -Paragraph 29, 30 -Article 5 + Details
Name: | us-gaap_StockIssuedDuringPeriodSharesNewIssues
Namespace Prefix: | us-gaap_
Data Type: | xbrli:sharesItemType
Balance Type: | na
Period Type: | duration

X
- Definition Equity impact of the value of new stock issued during the period. Includes shares issued in an initial public offering or a secondary public offering. + References Reference 1: http://www.xbrl.org/2003/role/presentationRef -Publisher SEC -Name Regulation S-X (SX) -Number 210 -Section 04 -Article 3 Reference 2: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 505 -SubTopic 10 -Section 50 -Paragraph 2 -URI http://asc.fasb.org/extlink&oid=6928386&loc=d3e21463-112644 Reference 3: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 505 -SubTopic 10 -Section S99 -Paragraph 1 -Subparagraph (SX 210.3-04) -URI http://asc.fasb.org/extlink&oid=27012166&loc=d3e187085-122770 Reference 4: http://www.xbrl.org/2003/role/presentationRef -Publisher SEC -Name Regulation S-X (SX) -Number 210 -Section 02 -Paragraph 29, 30, 31 -Article 5 + Details
Name: | us-gaap_StockIssuedDuringPeriodValueNewIssues
Namespace Prefix: | us-gaap_
Data Type: | xbrli:monetaryItemType
Balance Type: | credit
Period Type: | duration