XML 12 R39.htm IDEA: XBRL DOCUMENT
v3.2.0.727

COMMITMENTS AND CONTINGENCIES (Details) $ in Thousands | 3 Months Ended |
--- | --- | ---
Jul. 31, 2015 USD ($) ft² Property Unit | Jul. 31, 2014 USD ($) | Apr. 30, 2015 USD ($)
Real Estate Properties [Line Items] |  |  |  |
Total property cost subject to purchase options |  | $ 1,618,948 |  | $ 1,546,367
Total gross rental revenue from properties subject to purchase options |  | $ 45,522 | $ 43,564 |
Redemption basis |  | one-for-one |  |
Period to hold the beneficial interest, minimum |  | 1 year |  |
Number of consecutive trading days for valuation |  | 10 days |  |
Aggregate redemption value of UPREIT Units of operating partnership owned by limited partners |  | $ 100,300 | 154,400 |
Tenant Improvements |  | $ 7,800 |  |
Commitment period for tenant improvements |  | 12 months |  |
Anticipated Total Cost |  | $ 297,947 |  |
Project costs incurred to date |  | 241,283 |  |
Construction interest capitalized |  | 2,300 | $ 1,000 |
Properties Classified as Discontinued Operations [Member] |  |  |  |
Real Estate Properties [Line Items] |  |  |  |
Amount to be exchanged under Section 1031 |  | $ 37,300 |  |
Subject to Purchase Options [Member] |  |  |  |
Real Estate Properties [Line Items] |  |  |  |
Number of properties | Property |  | 15 |  |
Total property cost subject to purchase options |  | $ 114,900 |  |
Total gross rental revenue from properties subject to purchase options |  | $ 2,500 |  |
Subject to Restrictions on Taxable Dispositions [Member] |  |  |  |
Real Estate Properties [Line Items] |  |  |  |
Number of properties | Property |  | 93 |  |
Area of real estate property | ft² |  | 4,200,000 |  |
Number of apartment units at properties subject to restrictions on taxable dispositions | Unit |  | 5,022 |  |
Real estate investment amount of properties (net of accumulated depreciation) |  | $ 741,900 |  |
Subject to Restrictions on Taxable Dispositions [Member] | Properties Classified as Discontinued Operations [Member] |  |  |  |
Real Estate Properties [Line Items] |  |  |  |
Number of properties | Property |  | 17 |  |
Held for Sale Properties [Member] |  |  |  |
Real Estate Properties [Line Items] |  |  |  |
Tenant Improvements |  | $ 5,200 |  |
Eden Prairie, MN [Member] | Office Property [Member] |  |  |  |
Real Estate Properties [Line Items] |  |  |  |
Sales price of pending disposition |  | $ 2,900 |  |
Cardinal Point, Grand Forks, North Dakota [Member] | Multi-Family Residential [Member] |  |  |  |
Real Estate Properties [Line Items] |  |  |  |
Number of apartment units | Unit |  | 251 |  |
Anticipated Total Cost |  | $ 40,042 |  |
Project costs incurred to date |  | $ 33,704 |  |
Estimated quarter for completion |  | 3 |  |
Estimated year for completion |  | 2016 |  |
Grand Forks, ND [Member] | Multi-Family Residential [Member] |  |  |  |
Real Estate Properties [Line Items] |  |  |  |
Number of apartment units pending acquisition | Unit |  | 74 |  |
Purchase price of pending acquisition |  | $ 9,300 |  |
Value of limited partnership units to be issued in pending acquisition |  | 400 |  |
Cash to be paid for pending acquisition |  | $ 8,900 |  |
Monticello Crossings Phase I - Monticello, MN [Member] | Multi-Family Residential [Member] |  |  |  |
Real Estate Properties [Line Items] |  |  |  |
Number of apartment units | Unit | [1] | 136 |  |
Anticipated Total Cost | [1] | $ 19,097 |  |
Project costs incurred to date | [1] | $ 1,978 |  |
Estimated quarter for completion | [1] | 2 |  |
Estimated year for completion | [1] | 2017 |  |
Minot Southgate Retail Minot ND [Member] | Commercial Other [Member] |  |  |  |
Real Estate Properties [Line Items] |  |  |  |
Area of real estate property | ft² |  | 7,963 |  |
Anticipated Total Cost |  | $ 2,923 |  |
Project costs incurred to date |  | $ 2,550 |  |
Estimated quarter for completion |  | 2 |  |
Estimated year for completion |  | 2016 |  |
Rochester, MN [Member] | Multi-Family Residential [Member] |  |  |  |
Real Estate Properties [Line Items] |  |  |  |
Number of apartment units pending acquisition | Unit |  | 276 |  |
Purchase price of pending acquisition |  | $ 56,000 |  |
Chateau II - Minot, ND [Member] | Multi-Family Residential [Member] |  |  |  |
Real Estate Properties [Line Items] |  |  |  |
Number of apartment units | Unit |  | 72 |  |
Anticipated Total Cost |  | $ 14,711 |  |
Project costs incurred to date |  | $ 14,600 |  |
Deer Ridge - Jamestown, ND [Member] | Multi-Family Residential [Member] |  |  |  |
Real Estate Properties [Line Items] |  |  |  |
Number of apartment units | Unit |  | 163 |  |
Anticipated Total Cost |  | $ 24,519 |  |
Project costs incurred to date |  | $ 20,627 |  |
Estimated quarter for completion |  | 3 |  |
Estimated year for completion |  | 2016 |  |
71 France Phase I, II, & III - Edina Mn [Member] | Multi-Family Residential [Member] |  |  |  |
Real Estate Properties [Line Items] |  |  |  |
Area of real estate property | ft² |  | 21,772 |  |
Number of apartment units | Unit | [2] | 241 |  |
Anticipated Total Cost | [2] | $ 73,290 |  |
Project costs incurred to date | [2] | $ 50,455 |  |
Estimated quarter for completion | [2] | 1 |  |
Estimated year for completion | [2] | 2017 |  |
Interest in joint venture (in hundredths) |  | 52.60% |  |
PrairieCare Medical - Brooklyn Park, MN [Member] | Commercial Healthcare [Member] |  |  |  |
Real Estate Properties [Line Items] |  |  |  |
Area of real estate property | ft² |  | 70,756 |  |
Anticipated Total Cost |  | $ 24,251 |  |
Project costs incurred to date |  | $ 23,424 |  |
Estimated quarter for completion |  | 2 |  |
Estimated year for completion |  | 2016 |  |
Renaissance Heights - Williston ND [Member] | Multi-Family Residential [Member] |  |  |  |
Real Estate Properties [Line Items] |  |  |  |
Number of apartment units | Unit | [3] | 288 |  |
Anticipated Total Cost | [3] | $ 62,362 |  |
Project costs incurred to date | [3] | $ 62,339 |  |
Interest in joint venture (in hundredths) |  | 70.00% |  |
Edina 6565 France SMC III - Edina, MN [Member] | Commercial Healthcare [Member] |  |  |  |
Real Estate Properties [Line Items] |  |  |  |
Area of real estate property | ft² | [4] | 57,624 |  |
Anticipated Total Cost | [4] | $ 36,752 |  |
Project costs incurred to date | [4] | 28,816 |  |
Minnesota, Nebraska, North Dakota [Member] | Retail [Member] |  |  |  |
Real Estate Properties [Line Items] |  |  |  |
Sales price of pending disposition |  | $ 80,600 |  |
Number of properties | Property |  | 17 |  |
Other [Member] |  |  |  |
Real Estate Properties [Line Items] |  |  |  |
Project costs incurred to date |  | $ 2,790 |  |
[1] | This project will be constructed in two phases with approximately 202 units and an anticipated total cost of $ 31.5 million.
[2] | The project will be constructed in three phases by a joint venture entity in which the Company has an approximately 52.6% interest. The anticipated total cost amount given in the table above is the total cost to the joint venture entity. The anticipated total cost includes approximately 21,772 square feet of retail space.
[3] | The Company is currently an approximately 70.0% partner in the joint venture entity constructing this project. The anticipated total cost amount given is the total cost to the joint venture entity.
[4] | Anticipated total cost includes estimated tenant improvement costs that have not been incurred as of July 31, 2015.

X
- Definition Estimated cost of project. + References No definition available. + Details
Name: | iret_AnticipatedTotalCost
Namespace Prefix: | iret_
Data Type: | xbrli:monetaryItemType
Balance Type: | debit
Period Type: | instant

X
- Definition Cash to be paid for pending acquisition. + References No definition available. + Details
Name: | iret_CashToBePaidForPendingAcquisition
Namespace Prefix: | iret_
Data Type: | xbrli:monetaryItemType
Balance Type: | debit
Period Type: | instant

X
- Definition The commitment period related to tenant improvements. + References No definition available. + Details
Name: | iret_CommitmentPeriodForTenantImprovements
Namespace Prefix: | iret_
Data Type: | xbrli:durationItemType
Balance Type: | na
Period Type: | duration

X
- Definition Represents the minimum estimated sale proceeds from restricted properties expected to be exchanged under Section 1031. + References No definition available. + Details
Name: | iret_MinimumEstimatedSaleProceedsFromRestrictedProperties
Namespace Prefix: | iret_
Data Type: | xbrli:monetaryItemType
Balance Type: | credit
Period Type: | duration

X
- Definition Number of apartment units. + References No definition available. + Details
Name: | iret_NumberOfApartmentUnits
Namespace Prefix: | iret_
Data Type: | xbrli:integerItemType
Balance Type: | na
Period Type: | instant

X
- Definition Number of apartment units pending acquisition + References No definition available. + Details
Name: | iret_NumberOfApartmentUnitsPendingAcquisition
Namespace Prefix: | iret_
Data Type: | xbrli:integerItemType
Balance Type: | na
Period Type: | instant

X
- Definition The number of consecutive trading days for valuation. + References No definition available. + Details
Name: | iret_NumberOfConsecutiveTradingDaysForValuation
Namespace Prefix: | iret_
Data Type: | xbrli:durationItemType
Balance Type: | na
Period Type: | duration

X
- Definition Refers to number of real estate properties classified as held for sale. + References No definition available. + Details
Name: | iret_NumberOfRealEstatePropertiesClassifiedAsHeldForSale
Namespace Prefix: | iret_
Data Type: | xbrli:integerItemType
Balance Type: | na
Period Type: | duration

X
- Definition The minimum period for which some limited partners have contractually agreed to hold the beneficial interest. + References No definition available. + Details
Name: | iret_PeriodToHoldBeneficialInterestMinimum
Namespace Prefix: | iret_
Data Type: | xbrli:durationItemType
Balance Type: | na
Period Type: | duration

X
- Definition Purchase Price of Pending Acquisition + References No definition available. + Details
Name: | iret_PurchasePriceofPendingAcquisition
Namespace Prefix: | iret_
Data Type: | xbrli:monetaryItemType
Balance Type: | credit
Period Type: | duration

X
- Definition The quarter in which a construction project is estimated to be completed. + References No definition available. + Details
Name: | iret_RealEstateConstructionEstimatedQuarterForCompletion
Namespace Prefix: | iret_
Data Type: | xbrli:stringItemType
Balance Type: | na
Period Type: | duration

X
- Definition The year in which a construction project is estimated to be completed. + References No definition available. + Details
Name: | iret_RealEstateConstructionEstimatedYearForCompletion
Namespace Prefix: | iret_
Data Type: | xbrli:stringItemType
Balance Type: | na
Period Type: | duration

X
- Definition 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. + References No definition available. + Details
Name: | iret_RedemptionBasis
Namespace Prefix: | iret_
Data Type: | xbrli:stringItemType
Balance Type: | na
Period Type: | duration

X
- Definition The redemption value of UPREIT Units during the period. + References No definition available. + Details
Name: | iret_RedemptionValueOfUpreitUnits
Namespace Prefix: | iret_
Data Type: | xbrli:monetaryItemType
Balance Type: | credit
Period Type: | instant

X
- Definition Sale amount of pending property disposition. + References No definition available. + Details
Name: | iret_SaleAmountOfPendingDisposition
Namespace Prefix: | iret_
Data Type: | xbrli:monetaryItemType
Balance Type: | credit
Period Type: | duration

X
- Definition Represents the value of limited partnership units to be issued pending. + References No definition available. + Details
Name: | iret_ValueOfLimitedPartnershipUnitsToBeIssuedPending
Namespace Prefix: | iret_
Data Type: | xbrli:monetaryItemType
Balance Type: | debit
Period Type: | instant

X
- Definition Area of a real estate property. + References No definition available. + Details
Name: | us-gaap_AreaOfRealEstateProperty
Namespace Prefix: | us-gaap_
Data Type: | num:areaItemType
Balance Type: | na
Period Type: | instant

X
- Definition The capitalized costs incurred (excluded from amortization), as of the date of the balance sheet, to obtain access to proved reserves and to provide facilities for extracting, treating, gathering and storing the oil and gas. + References Reference 1: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 932 -SubTopic 10 -Section S99 -Paragraph 1 -Subparagraph (SX 210.4-10.(c)(7)(ii)) -URI http://asc.fasb.org/extlink&oid=50486907&loc=d3e511914-122862 + Details
Name: | us-gaap_DevelopmentCostsCumulative
Namespace Prefix: | us-gaap_
Data Type: | xbrli:monetaryItemType
Balance Type: | debit
Period Type: | instant

X
- Definition The percentage of ownership of common stock or equity participation in the investee accounted for under the equity method of accounting. + References Reference 1: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 323 -SubTopic 10 -Section 50 -Paragraph 3 -Subparagraph (a)(1) -URI http://asc.fasb.org/extlink&oid=6382943&loc=d3e33918-111571 + Details
Name: | us-gaap_EquityMethodInvestmentOwnershipPercentage
Namespace Prefix: | us-gaap_
Data Type: | num:percentItemType
Balance Type: | na
Period Type: | instant

X
- Definition The number of real estate properties owned as of the balance sheet date. + References No definition available. + Details
Name: | us-gaap_NumberOfRealEstateProperties
Namespace Prefix: | us-gaap_
Data Type: | xbrli:integerItemType
Balance Type: | na
Period Type: | instant

X
- Definition The number of units in a real estate property owned as of the balance sheet date. + References No definition available. + Details
Name: | us-gaap_NumberOfUnitsInRealEstateProperty
Namespace Prefix: | us-gaap_
Data Type: | xbrli:integerItemType
Balance Type: | na
Period Type: | instant

X
- Definition The total amount of revenue recognized for the period from operating leases, including minimum lease revenue, contingent revenue, percentage revenue and sublease revenue. + References Reference 1: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 840 -SubTopic 20 -Section 25 -Paragraph 1 -URI http://asc.fasb.org/extlink&oid=7501430&loc=d3e39896-112707 + Details
Name: | us-gaap_OperatingLeasesIncomeStatementLeaseRevenue
Namespace Prefix: | us-gaap_
Data Type: | xbrli:monetaryItemType
Balance Type: | credit
Period Type: | duration

X
- Definition The amount of interest capitalized to an operative builder's inventory during the period. + References Reference 1: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 835 -SubTopic 20 -Section 50 -Paragraph 1 -Subparagraph (b) -URI http://asc.fasb.org/extlink&oid=6450988&loc=d3e26243-108391 + Details
Name: | us-gaap_RealEstateInventoryCapitalizedInterestCostsIncurred
Namespace Prefix: | us-gaap_
Data Type: | xbrli:monetaryItemType
Balance Type: | debit
Period Type: | duration

X
- Definition Amount of real estate investment property which may include the following: (1) land available-for-sale; (2) land available-for-development; (3) investments in building and building improvements; (4) tenant allowances; (5) developments in-process; (6) rental properties; and (7) other real estate investments. + References Reference 1: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 944 -SubTopic 210 -Section S99 -Paragraph 1 -Subparagraph (SX 210.7-03.1(d)) -URI http://asc.fasb.org/extlink&oid=6879938&loc=d3e572229-122910 + Details
Name: | us-gaap_RealEstateInvestmentPropertyAtCost
Namespace Prefix: | us-gaap_
Data Type: | xbrli:monetaryItemType
Balance Type: | debit
Period Type: | instant

X
- Definition Amount of real estate investments, net of accumulated depreciation, which may include the following: (1) land available-for-sale; (2) land available-for-development; (3) investments in building and building improvements; (4) tenant allowances; (5) developments in-process; (6) rental properties; (7) other real estate investments; (8) real estate joint ventures; and (9) unconsolidated real estate and other joint ventures not separately presented. + References Reference 1: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 944 -SubTopic 210 -Section S99 -Paragraph 1 -Subparagraph (SX 210.7-03.1(d)) -URI http://asc.fasb.org/extlink&oid=6879938&loc=d3e572229-122910 + Details
Name: | us-gaap_RealEstateInvestments
Namespace Prefix: | us-gaap_
Data Type: | xbrli:monetaryItemType
Balance Type: | debit
Period Type: | instant

X
- Definition 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. + References No definition available. + Details
Name: | us-gaap_RealEstatePropertiesLineItems
Namespace Prefix: | us-gaap_
Data Type: | xbrli:stringItemType
Balance Type: | na
Period Type: | duration

X
- Definition Carrying amount as of the balance sheet date of improvements having a life longer than one year that were made for the benefit of one or more tenants. + References Reference 1: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 944 -SubTopic 210 -Section S99 -Paragraph 1 -Subparagraph (SX 210.7-03.1(f)) -URI http://asc.fasb.org/extlink&oid=6879938&loc=d3e572229-122910 + Details
Name: | us-gaap_TenantImprovements
Namespace Prefix: | us-gaap_
Data Type: | xbrli:monetaryItemType
Balance Type: | debit
Period Type: | instant

X
- Details
Name: | us-gaap_IncomeStatementBalanceSheetAndAdditionalDisclosuresByDisposalGroupsIncludingDiscontinuedOperationsAxis=iret_PropertiesClassifiedAsDiscontinuedOperationsMember
Namespace Prefix: |
Data Type: | na
Balance Type: |
Period Type: |

X
- Details
Name: | us-gaap_PropertySubjectToOrAvailableForOperatingLeaseAxis=iret_SubjectToPurchaseOptionsMember
Namespace Prefix: |
Data Type: | na
Balance Type: |
Period Type: |

X
- Details
Name: | us-gaap_PropertySubjectToOrAvailableForOperatingLeaseAxis=iret_SubjectToRestrictionsOnTaxableDispositionsMember
Namespace Prefix: |
Data Type: | na
Balance Type: |
Period Type: |

X
- Details
Name: | us-gaap_PropertySubjectToOrAvailableForOperatingLeaseAxis=iret_HeldForSalePropertiesMember
Namespace Prefix: |
Data Type: | na
Balance Type: |
Period Type: |

X
- Details
Name: | us-gaap_RealEstatePropertiesAxis=iret_EdenPrairieMNMember
Namespace Prefix: |
Data Type: | na
Balance Type: |
Period Type: |

X
- Details
Name: | us-gaap_PropertySubjectToOrAvailableForOperatingLeaseAxis=iret_OfficePropertyMember
Namespace Prefix: |
Data Type: | na
Balance Type: |
Period Type: |

X
- Details
Name: | us-gaap_RealEstatePropertiesAxis=iret_CardinalPointGrandForksNorthDakotaMember
Namespace Prefix: |
Data Type: | na
Balance Type: |
Period Type: |

X
- Details
Name: | us-gaap_MortgageLoansOnRealEstateDescriptionTypeOfPropertyAxis=iret_MultiFamilyResidentialMember
Namespace Prefix: |
Data Type: | na
Balance Type: |
Period Type: |

X
- Details
Name: | us-gaap_RealEstatePropertiesAxis=iret_GrandForksNdMember
Namespace Prefix: |
Data Type: | na
Balance Type: |
Period Type: |

X
- Details
Name: | us-gaap_RealEstatePropertiesAxis=iret_MonticelloCrossingsPhaseIMember
Namespace Prefix: |
Data Type: | na
Balance Type: |
Period Type: |

X
- Details
Name: | us-gaap_RealEstatePropertiesAxis=iret_MinotSouthgateRetailMinotNDMember
Namespace Prefix: |
Data Type: | na
Balance Type: |
Period Type: |

X
- Details
Name: | us-gaap_MortgageLoansOnRealEstateDescriptionTypeOfPropertyAxis=iret_CommercialOtherMember
Namespace Prefix: |
Data Type: | na
Balance Type: |
Period Type: |

X
- Details
Name: | us-gaap_RealEstatePropertiesAxis=iret_RochesterMNMember
Namespace Prefix: |
Data Type: | na
Balance Type: |
Period Type: |

X
- Details
Name: | us-gaap_RealEstatePropertiesAxis=iret_ChateauIiMinotNdMember
Namespace Prefix: |
Data Type: | na
Balance Type: |
Period Type: |

X
- Details
Name: | us-gaap_RealEstatePropertiesAxis=iret_DeerRidgeJamestownNdMember
Namespace Prefix: |
Data Type: | na
Balance Type: |
Period Type: |

X
- Details
Name: | us-gaap_RealEstatePropertiesAxis=iret_FrancePhaseIIIIIIEdinaMnMember
Namespace Prefix: |
Data Type: | na
Balance Type: |
Period Type: |

X
- Details
Name: | us-gaap_RealEstatePropertiesAxis=iret_PrairiecareMedicalBrooklynParkMnMember
Namespace Prefix: |
Data Type: | na
Balance Type: |
Period Type: |

X
- Details
Name: | us-gaap_MortgageLoansOnRealEstateDescriptionTypeOfPropertyAxis=iret_CommercialHealthcareMember
Namespace Prefix: |
Data Type: | na
Balance Type: |
Period Type: |

X
- Details
Name: | us-gaap_RealEstatePropertiesAxis=iret_RenaissanceHeightsWillistonNdMember
Namespace Prefix: |
Data Type: | na
Balance Type: |
Period Type: |

X
- Details
Name: | us-gaap_RealEstatePropertiesAxis=iret_Edina6565FranceSmcIiiEdinaMnMember
Namespace Prefix: |
Data Type: | na
Balance Type: |
Period Type: |

X
- Details
Name: | us-gaap_RealEstatePropertiesAxis=iret_MinnesotaNebraskaNorthDakotaMember
Namespace Prefix: |
Data Type: | na
Balance Type: |
Period Type: |

X
- Details
Name: | us-gaap_PropertySubjectToOrAvailableForOperatingLeaseAxis=iret_RetailMember
Namespace Prefix: |
Data Type: | na
Balance Type: |
Period Type: |

X
- Details
Name: | us-gaap_RealEstatePropertiesAxis=iret_OtherPropertiesMember
Namespace Prefix: |
Data Type: | na
Balance Type: |
Period Type: |