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FAIR VALUE MEASUREMENTS (Tables)

12 Months Ended

Apr. 30, 2015

FAIR VALUE MEASUREMENTS [Abstract]

Fair Value Measurements on a Nonrecurring Basis

The aggregate fair value of these assets by their levels in the fair value hierarchy are as follows:

		(in thousands)
		Total			Level 1			Level 2			Level 3
April 30, 2015
Real estate held for sale		$	7,100		$	0		$	0		$	7,100
April 30, 2014
Real estate investments		89,537			0			0			89,537
Real estate held for sale		2,951			0			0			2,951

Estimated Fair Values of Financial Instruments

The estimated fair values of the Company’s financial instruments as of April 30, 2015 and 2014 are as follows:

		(in thousands)
		2015						2014
		Carrying Amount			Fair Value			Carrying Amount			Fair Value
FINANCIAL ASSETS
Cash and cash equivalents		$	48,970		$	48,970		$	47,267		$	47,267
Other investments		329			329			329			329
FINANCIAL LIABILITIES
Other debt		144,090			143,749			63,132			63,250
Lines of credit		60,500			60,500			22,500			22,500
Mortgages payable		668,112			749,604			678,955			751,117

X

- Definition

Tabular disclosure of assets and liabilities by class, including financial instruments measured at fair value that are classified in shareholders' equity, if any, that are measured at fair value on a nonrecurring basis in periods after initial recognition (for example, impaired assets). Disclosures may include, but are not limited to: (a) the fair value measurements recorded and the reasons for the measurements and (b) the level within the fair value hierarchy in which the fair value measurements are categorized in their entirety (levels 1, 2, 3).

+ References

Reference 1: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 820
-SubTopic 10
-Section 50
-Paragraph 5
-URI http://asc.fasb.org/extlink&oid=36462937&loc=d3e19296-110258

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- References

No definition available.

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- Definition

Tabular disclosure of assets and liabilities, including [financial] instruments measured at fair value that are classified in stockholders' equity, if any, that are measured at fair value on a recurring basis. The disclosures contemplated herein include the fair value measurements at the reporting date by the level within the fair value hierarchy in which the fair value measurements in their entirety fall, segregating fair value measurements using quoted prices in active markets for identical assets (Level 1), significant other observable inputs (Level 2), and significant unobservable inputs (Level 3).

+ References

Reference 1: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 820
-SubTopic 10
-Section 50
-Paragraph 1
-URI http://asc.fasb.org/extlink&oid=36462937&loc=d3e19190-110258

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