XML 74 R61.htm IDEA: XBRL DOCUMENT v3.4.0.3
DISCONTINUED OPERATIONS (Details)
$ in Thousands
3 Months Ended 12 Months Ended
Apr. 30, 2015
USD ($)
Jan. 31, 2015
USD ($)
Oct. 31, 2014
USD ($)
Jul. 31, 2014
USD ($)
Apr. 30, 2014
USD ($)
Jan. 31, 2014
USD ($)
Oct. 31, 2013
USD ($)
Jul. 31, 2013
USD ($)
Apr. 30, 2016
Property
Apr. 30, 2015
USD ($)
Apr. 30, 2014
USD ($)
Property
Apr. 30, 2013
USD ($)
Property
Apr. 30, 2012
Property
REVENUE                          
Real estate rentals                   $ 181,261 $ 165,465 $ 151,083  
Tenant reimbursement                   19,734 19,914 18,650  
TOTAL REVENUE $ 51,173 $ 52,939 $ 51,189 $ 49,214 $ 47,440 $ 48,383 $ 45,896 $ 45,287   204,515 187,006 169,733  
EXPENSES                          
Depreciation/amortization related to real estate investments                   50,886 49,153 41,602  
Utilities                   13,388 13,605 11,363  
Maintenance                   20,063 19,435 17,062  
Real estate taxes                   20,039 19,035 18,223  
Insurance                   4,760 4,090 2,801  
Property management expenses                   14,707 13,526 11,713  
Other property expenses                   876 114 1,008  
Other expenses                   2,010 2,129 2,171  
Amortization related to non-real estate investments                   889 916 828  
Impairment of real estate investments                   4,663 7,700    
TOTAL EXPENSES                   147,102 141,777 115,265  
Operating (loss) income                   57,413 47,709 59,552  
Interest expense                   (40,071) (39,619) (40,441)  
Other income                   718 242 512  
Gain on sale of discontinued operations                   6,093 6,948 6,885  
INCOME FROM DISCONTINUED OPERATIONS                   2,293 (27,127) 10,129  
Property Sale Data                          
Gain on sale of discontinued operations                   6,093 6,948 6,885  
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         417,045 425,676    
Receivable arising from straight-lining of rents 10,078       11,087         10,078 11,087    
Accounts receivable 566       1,752         566 1,752    
Prepaid and other assets 699       691         699 691    
Tax, isurance and other escrow 1,176       4,655         1,176 4,655    
Property and equipment 0       7         0 7    
Goodwill 193       0         193 0    
Deferred charges and leasing costs 9,606       10,488         9,606 10,488    
Total major classes of assets of the discontinued operations 439,363       454,356         439,363 454,356 72,631  
Other assets included in the disposal group classified as held for sale 23,740       2,951         23,740 2,951    
Total assets of the disposal group classified as held for sale on the balance sheet 463,103       457,307         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         13,952 13,988    
Mortgages payable 295,677       318,734         295,677 318,734    
Other 4       9         4 9    
Total major classes of liabilities of the discontinued operations 309,633       332,731         309,633 332,731    
Other liabilities included in the disposal group classified as held for sale 11,760       0         11,760 0    
Total liabilities of the disposal group classified as held for sale on the balance sheet $ 321,393       $ 332,731         321,393 332,731 $ 1,335  
Discontinued Operations, Held-for-sale [Member]                          
EXPENSES                          
Impairment of real estate investments                     $ 36,700    
Multi-Family Residential [Member]                          
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items]                          
Number of real estate properties classified as discontinued operations | Property                     2 3  
Commercial Office [Member]                          
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items]                          
Number of real estate properties classified as discontinued operations | Property                     3    
Commercial Office [Member] | Subsequent Event [Member] | Discontinued Operations, Held-for-sale [Member]                          
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items]                          
Number of real estate properties classified as discontinued operations | Property                 48        
Commercial Healthcare [Member]                          
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items]                          
Number of real estate properties classified as discontinued operations | Property                       1  
Commercial Healthcare [Member] | Subsequent Event [Member] | Discontinued Operations, Held-for-sale [Member]                          
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items]                          
Number of real estate properties classified as discontinued operations | Property                 1        
Commercial Industrial [Member]                          
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items]                          
Number of real estate properties classified as discontinued operations | Property                     12    
Retail [Member]                          
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items]                          
Number of real estate properties classified as discontinued operations | Property                     3 1 1
Number of properties classified as held for sale | Property                         1
Retail [Member] | Subsequent Event [Member] | Discontinued Operations, Held-for-sale [Member]                          
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items]                          
Number of real estate properties classified as discontinued operations | Property                 17        
Condominium Unit [Member]                          
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items]                          
Number of real estate properties classified as discontinued operations | Property                       4 8
Number of properties classified as held for sale | Property                         8
Discontinued Operations [Member]                          
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 19,259 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 (loss) income                   21,237 (14,425) 26,471  
Interest expense                   (18,949) 19,944 23,425  
Interest income                   0 2 2  
Other income                   5 241 16  
(Loss) income from discontinued operations before gain on sale                   2,293 (34,126) 3,244  
Gain on sale of discontinued operations                   0 6,999 3,885  
INCOME FROM DISCONTINUED OPERATIONS                   2,293 (27,127) 10,129  
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                   0 6,999 3,885  
Discontinued Operations [Member] | Multi-Family Residential [Member]                          
EXPENSES                          
INCOME FROM DISCONTINUED OPERATIONS                   0 (99) 3,712  
Discontinued Operations [Member] | Commercial Healthcare [Member]                          
EXPENSES                          
INCOME FROM DISCONTINUED OPERATIONS                   (55) (68) 3,307  
Discontinued Operations [Member] | Commercial Industrial [Member]                          
EXPENSES                          
INCOME FROM DISCONTINUED OPERATIONS                   0 8,923 2,118  
Discontinued Operations [Member] | Other Segments [Member]                          
EXPENSES                          
INCOME FROM DISCONTINUED OPERATIONS                   $ 2,348 $ (35,883) $ 992