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SUBSEQUENT EVENTS | 12 Months Ended
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Apr. 30, 2016
SUBSEQUENT EVENTS [Abstract] |
SUBSEQUENT EVENTS | NOTE 21 • SUBSEQUENT EVENTS Common and Preferred Share Distributions. On June 2, 2016, our Board of Trustees declared the following distributions:
|  | Quarterly Amount |  |  |  |  |
Class of shares/units |  | per Share or Unit |  | Record Date |  | Payment Date |
Common shares and limited partnership units |  | $ | 0.1300 |  | June 15, 2016 |  | July 1, 2012 |
Preferred shares: |  |  |  |  |  |  |  |
Series A |  | $ | 0.5156 |  | June 15, 2016 |  | June 30, 2016 |
Series B |  | $ | 0.4968 |  | June 15, 2016 |  | June 30, 2016 |
Strategic Plan Update. On June 6, 2016, we announced our plan to move towards becoming a pure play multifamily REIT and our intention to sell our remaining commercial properties. Termination of the ATM Sales Agreement. On June 1, 2016, we and our Operating Partnership terminated the ATM sales agreement with Baird according to its terms. Completed Disposition. On May 6, 2016, we sold a parcel of unimproved land in Grand Chute, WI, for a sale price of $250,000. Pending Dispositions. On May 2, 2016, the tenant in our eight Spring Creek senior housing properties exercised its option to purchase the properties for a sale price of $43.5 million. On May 3, 2016, we signed an agreement to sell an industrial property in Fargo, ND, for a sale price of $13.4 million. These pending dispositions are subject to various closing conditions and contingencies, and no assurances can be given that the transaction will be completed on the terms currently expected, or at all.

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- Definition The entire disclosure for significant events or transactions that occurred after the balance sheet date through the date the financial statements were issued or the date the financial statements were available to be issued. Examples include: the sale of a capital stock issue, purchase of a business, settlement of litigation, catastrophic loss, significant foreign exchange rate changes, loans to insiders or affiliates, and transactions not in the ordinary course of business. + References No definition available. + Details
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