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DISCONTINUED OPERATIONS (Tables) | 12 Months Ended
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Apr. 30, 2015
DISCONTINUED OPERATIONS [Abstract] |
Effect on Net Income and Gains or Losses From Sale Of Properties Classified as Discontinued Operations | The following information shows the effect on net income and the gains or losses from the sale of properties classified as discontinued operations for the fiscal years ended April 30, 2015, 2014 and 2013.
|  | (in thousands) |
|  | 2015 |  | 2014 |  | 2013 |
REVENUE |  |  |  |  |  |  |
Real estate rentals |  | $ | 54,591 |  | $ | 57,629 |  | $ | 63,704 |
Tenant reimbursement |  | 24,084 |  | 26,949 |  | 27,788 |
TOTAL REVENUE |  | 78,675 |  | 84,578 |  | 91,492 |
EXPENSES |  |  |  |  |  |  |
Depreciation/amortization related to real estate investments |  | 16,226 |  | 19,359 |  | 20,873 |
Utilities |  | 7,493 |  | 8,423 |  | 7,876 |
Maintenance |  | 10,861 |  | 12,022 |  | 12,307 |
Real estate taxes |  | 13,906 |  | 14,898 |  | 16,235 |
Insurance |  | 1,079 |  | 1,172 |  | 1,151 |
Property management expenses |  | 3,795 |  | 3,657 |  | 3,810 |
Other property expenses |  | 30 |  | 243 |  | 16 |
Other expenses |  | 0 |  | 3 |  | 2 |
Amortization related to non-real estate investments |  | 2,606 |  | 2,500 |  | 2,446 |
Impairment of real estate investments |  | 1,442 |  | 36,726 |  | 305 |
TOTAL EXPENSES |  | 57,438 |  | 99,003 |  | 65,021 |
Operating income (loss) |  | 21,237 |  | (14,425 | ) | 26,471 |
Interest expense |  | (18,949 | ) | (19,944 | ) | (23,425 | )
Interest income |  | 0 |  | 2 |  | 2 |
Other income |  | 5 |  | 241 |  | 16 |
Income (loss) income from discontinued operations before gain on sale |  | 2,293 |  | (34,126 | ) | 3,244 |
Gain on sale of discontinued operations |  | 0 |  | 6,999 |  | 6,885 |
INCOME FROM DISCONTINUED OPERATIONS |  | 2,293 |  | $ | (27,127 | ) | $ | 10,129 |
Segment Data |  |  |  |  |  |  |
Multifamily |  | 0 |  | $ | (99 | ) | $ | 3,712 |
Healthcare |  | (55 | ) | (68 | ) | 3,307 |
Industrial |  | 0 |  | 8,923 |  | 2,118 |
Other |  | 2,348 |  | (35,883 | ) | 992 |
Total |  | 2,293 |  | $ | (27,127 | ) | $ | 10,129 |
|  | (in thousands) |
|  | 2014 |  | 2013 |
Property Sale Data |  |  |  |  |
Sales price |  | $ | 80,883 |  | $ | 26,273 |
Net book value and sales costs |  | (73,884 | ) | (19,388 | )
Gain on sale of discontinued operations |  | $ | 6,999 |  | $ | 6,885 |
Reconciliation of Assets and Liabilities of Discontinued Operations to Assets and Liabilities Held for Sale That Are Presented Separately on the Condensed Consolidated Balance Sheet | The following information reconciles the carrying amounts of major classes of assets and liabilities of the discontinued operations to assets and liabilities held for sale that are presented separately on the Consolidated Balance Sheets:
|  | (in thousands) |
|  | April 30, 2015 |  | April 30, 2014 |
Carrying amounts of major classes of assets included as part of discontinued operations |  |  |  |  |
Property owned and intangible assets, net of accumulated depreciation and amortization |  | $ | 417,045 |  | $ | 425,676 |
Receivable arising from straight-lining of rents |  | 10,078 |  | 11,087 |
Accounts receivable |  | 566 |  | 1,752 |
Prepaid and other assets |  | 699 |  | 691 |
Tax, insurance and other escrow |  | 1,176 |  | 4,655 |
Property and equipment |  | 0 |  | 7 |
Goodwill |  | 193 |  | 0 |
Deferred charges and leasing costs |  | 9,606 |  | 10,488 |
Total major classes of assets of the discontinued operations |  | 439,363 |  | 454,356 |
Other assets included in the disposal group classified as held for sale |  | 23,740 |  | 2,951 |
Total assets of the disposal group classified as held for sale on the balance sheet |  | $ | 463,103 |  | $ | 457,307 |
Carrying amounts of major classes of liabilities included as part of discontinued operations |  |  |  |  |
Accounts payable and accrued expenses |  | $ | 13,952 |  | $ | 13,988 |
Mortgages payable |  | 295,677 |  | 318,734 |
Other |  | 4 |  | 9 |
Total major classes of liabilities of the discontinued operations |  | 309,633 |  | 332,731 |
Other liabilities included in the disposal group classified as held for sale |  | 11,760 |  | 0 |
Total liabilities of the disposal group classified as held for sale on the balance sheet |  | $ | 321,393 |  | $ | 332,731 |

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- Definition Tabular disclosure of information related to a disposal group. Includes, but is not limited to, a discontinued operation, disposal classified as held-for-sale or disposed of by means other than sale or disposal of an individually significant component. + References Reference 1: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 205 -SubTopic 20 -Section 45 -Paragraph 11 -URI http://asc.fasb.org/extlink&oid=51716988&loc=SL51721533-107759 Reference 2: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 205 -SubTopic 20 -Section 50 -Paragraph 4B -URI http://asc.fasb.org/extlink&oid=51717284&loc=SL51721665-107760 Reference 3: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 205 -SubTopic 20 -Section 50 -Paragraph 3 -URI http://asc.fasb.org/extlink&oid=51717284&loc=d3e1474-107760 Reference 4: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 205 -SubTopic 20 -Section 50 -Paragraph 1 -URI http://asc.fasb.org/extlink&oid=51717284&loc=d3e1361-107760 Reference 5: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 205 -SubTopic 20 -Section 50 -Paragraph 7 -URI http://asc.fasb.org/extlink&oid=51717284&loc=SL51721683-107760 Reference 6: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 360 -SubTopic 10 -Section 50 -Paragraph 3A -URI http://asc.fasb.org/extlink&oid=51719941&loc=SL51724579-110230 Reference 7: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 205 -SubTopic 20 -Section 50 -Paragraph 5C -URI http://asc.fasb.org/extlink&oid=51717284&loc=SL51721675-107760 Reference 8: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 205 -SubTopic 20 -Section 50 -Paragraph 4A -URI http://asc.fasb.org/extlink&oid=51717284&loc=SL51721663-107760 Reference 9: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 360 -SubTopic 10 -Section 50 -Paragraph 3 -URI http://asc.fasb.org/extlink&oid=51719941&loc=d3e2941-110230 Reference 10: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 205 -SubTopic 20 -Section 50 -Paragraph 5B -URI http://asc.fasb.org/extlink&oid=51717284&loc=SL51721673-107760 Reference 11: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 205 -SubTopic 20 -Section 50 -Paragraph 3A -URI http://asc.fasb.org/extlink&oid=51717284&loc=SL51721659-107760 Reference 12: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 205 -SubTopic 20 -Section 50 -Paragraph 5A -URI http://asc.fasb.org/extlink&oid=51717284&loc=SL51721671-107760 Reference 13: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 205 -SubTopic 20 -Section 50 -Paragraph 5D -URI http://asc.fasb.org/extlink&oid=51717284&loc=SL51721677-107760 + Details
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