XML 37 R24.htm IDEA: XBRL DOCUMENT
v3.5.0.2

SEGMENT REPORTING (Tables) | 3 Months Ended
--- | ---
Jul. 31, 2016
SEGMENT REPORTING [Abstract] |
Revenues and Net Operating Income for Reportable Segments | Segment assets are also reconciled to total assets as reported in the condensed consolidated financial statements.
|  | (in thousands) |
Three Months Ended July 31, 2016 |  | Multifamily |  | Healthcare | All Other |  | Amounts Not Allocated To Segments(1) |  | Total |
Real estate revenue |  | $ | 35,040 |  | $ | 11,541 | $ | 3,030 |  | $ | — |  | $ | 49,611 |
Real estate expenses |  |  | 14,879 |  |  | 4,192 |  | 725 |  |  | 1,838 |  |  | 21,634 |
Net operating income (loss) |  | $ | 20,161 |  | $ | 7,349 | $ | 2,305 |  | $ | (1,838) |  | $ | 27,977 |
Depreciation and amortization |  |  |  |  |  |  |  |  |  |  |  |  |  | (14,267) |
Impairment of real estate investments |  |  |  |  |  |  |  |  |  |  |  |  |  | (54,153) |
General and administrative expenses |  |  |  |  |  |  |  |  |  |  |  |  |  | (2,606) |
Acquisition and investment related costs |  |  |  |  |  |  |  |  |  |  |  |  |  | (43) |
Other expenses |  |  |  |  |  |  |  |  |  |  |  |  |  | (852) |
Interest expense |  |  |  |  |  |  |  |  |  |  |  |  |  | (10,364) |
Interest and other income |  |  |  |  |  |  |  |  |  |  |  |  |  | 1,045 |
Loss before gain on sale of real estate and other investments and income from discontinued operations |  |  |  |  |  |  |  |  |  |  |  |  |  | (53,263) |
Gain on sale of real estate and other investments |  |  |  |  |  |  |  |  |  |  |  |  |  | 8,958 |
Loss from continuing operations |  |  |  |  |  |  |  |  |  |  |  |  |  | (44,305) |
Income from discontinued operations |  |  |  |  |  |  |  |  |  |  |  |  |  | 3,711 |
Net loss |  |  |  |  |  |  |  |  |  |  |  |  | $ | (40,594) |
| (1) |  | Consists of offsite costs associated with property management and casualty-related amounts, which are excluded in our assessment of segment performance.
|  | (in thousands) |
Three Months Ended July 31, 2015 |  | Multifamily |  | Healthcare | All Other |  | Amounts Not Allocated To Segments(1) |  |  | Total |
Real estate revenue |  | $ | 31,433 |  | $ | 10,779 | $ | 2,833 |  | $ | — |  | $ | 45,045 |
Real estate expenses |  |  | 13,438 |  |  | 3,482 |  | 610 |  |  | 774 |  |  | 18,304 |
Net operating income (loss) |  | $ | 17,995 |  | $ | 7,297 | $ | 2,223 |  | $ | (774) |  |  | 26,741 |
Depreciation and amortization |  |  |  |  |  |  |  |  |  |  |  |  |  | (11,217) |
Impairment of real estate investments |  |  |  |  |  |  |  |  |  |  |  |  |  | (1,285) |
General and administrative expenses |  |  |  |  |  |  |  |  |  |  |  |  |  | (2,454) |
Acquisition and investment related costs |  |  |  |  |  |  |  |  |  |  |  |  |  | (7) |
Other expenses |  |  |  |  |  |  |  |  |  |  |  |  |  | (417) |
Interest expense |  |  |  |  |  |  |  |  |  |  |  |  |  | (7,814) |
Interest and other income |  |  |  |  |  |  |  |  |  |  |  |  |  | 607 |
Income before gain on sale of real estate and other investments |  |  |  |  |  |  |  |  |  |  |  |  |  | 4,154 |
Loss on sale of real estate and other investments |  |  |  |  |  |  |  |  |  |  |  |  |  | (175) |
Income from continuing operations |  |  |  |  |  |  |  |  |  |  |  |  |  | 3,979 |
Income from discontinued operations |  |  |  |  |  |  |  |  |  |  |  |  |  | 748 |
Net income |  |  |  |  |  |  |  |  |  |  |  |  | $ | 4,727 |
| (1) |  | Consists of offsite costs associated with property management and casualty-related amounts..
Segment Assets and Accumulated Depreciation | Segment assets are summarized as follows as of July 31, 2016, and April 30, 2016, along with reconciliations to the condensed consolidated financial statements:
|  | (in thousands) |
As of July 31, 2016 |  | Multifamily |  | Healthcare |  | All Other |  | Total |
Segment assets |  |  |  |  |  |  |  |  |  |  |  |  |
Property owned |  | $ | 1,226,490 |  | $ | 340,806 |  | $ | 100,146 |  | $ | 1,667,442 |
Less accumulated depreciation |  |  | (211,953) |  |  | (86,120) |  |  | (21,014) |  |  | (319,087) |
Total property owned |  | $ | 1,014,537 |  | $ | 254,686 |  | $ | 79,132 |  | $ | 1,348,355 |
Assets held for sale and assets from discontinued operations |  |  |  |  |  |  |  |  |  |  |  | 215,817 |
Cash and cash equivalents |  |  |  |  |  |  |  |  |  |  |  | 54,438 |
Receivables and other assets |  |  |  |  |  |  |  |  |  |  |  | 26,546 |
Development in progress |  |  |  |  |  |  |  |  |  |  |  | 27,454 |
Unimproved land |  |  |  |  |  |  |  |  |  |  |  | 18,933 |
Total Assets |  |  |  |  |  |  |  |  |  |  | $ | 1,691,543 |
|  | (in thousands) |
As of April 30, 2016 |  | Multifamily |  | Healthcare |  | All Other |  | Total |
Segment assets |  |  |  |  |  |  |  |  |  |  |  |  |
Property owned |  | $ | 1,243,909 |  | $ | 337,920 |  | $ | 99,642 |  | $ | 1,681,471 |
Less accumulated depreciation |  |  | (209,156) |  |  | (83,558) |  |  | (20,175) |  |  | (312,889) |
Total property owned |  | $ | 1,034,753 |  | $ | 254,362 |  | $ | 79,467 |  | $ | 1,368,582 |
Assets held for sale and assets from discontinued operations |  |  |  |  |  |  |  |  |  |  |  | 220,537 |
Cash and cash equivalents |  |  |  |  |  |  |  |  |  |  |  | 66,698 |
Other investments |  |  |  |  |  |  |  |  |  |  |  | 50 |
Receivables and other assets |  |  |  |  |  |  |  |  |  |  |  | 26,535 |
Development in progress |  |  |  |  |  |  |  |  |  |  |  | 51,681 |
Unimproved land |  |  |  |  |  |  |  |  |  |  |  | 20,939 |
Total Assets |  |  |  |  |  |  |  |  |  |  | $ | 1,755,022 |

X
- Definition Tabular disclosure of all significant reconciling items in the reconciliation of total assets from reportable segments to the entity's consolidated assets. + References Reference 1: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 30 -Subparagraph (c) -URI http://asc.fasb.org/extlink&oid=51669610&loc=d3e8906-108599 Reference 2: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 31 -URI http://asc.fasb.org/extlink&oid=51669610&loc=d3e8924-108599 + Details
Name: | us-gaap_ReconciliationOfAssetsFromSegmentToConsolidatedTextBlock
Namespace Prefix: | us-gaap_
Data Type: | nonnum:textBlockItemType
Balance Type: | na
Period Type: | duration

X
- Definition Tabular disclosure of all significant reconciling items in the reconciliation of total profit or loss from reportable segments, to the entity's consolidated income before income taxes, extraordinary items, and discontinued operations. + References Reference 1: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 31 -URI http://asc.fasb.org/extlink&oid=51669610&loc=d3e8924-108599 Reference 2: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 30 -Subparagraph (b) -URI http://asc.fasb.org/extlink&oid=51669610&loc=d3e8906-108599 + Details
Name: | us-gaap_ReconciliationOfOperatingProfitLossFromSegmentsToConsolidatedTextBlock
Namespace Prefix: | us-gaap_
Data Type: | nonnum:textBlockItemType
Balance Type: | na
Period Type: | duration

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