XML 82 R57.htm IDEA: XBRL DOCUMENT
v3.7.0.1

LINE OF CREDIT (Details) $ in Thousands |  | 12 Months Ended |
--- | --- | --- | ---
Jan. 31, 2017 USD ($) | Apr. 30, 2017 USD ($) property | Apr. 30, 2016 USD ($) | Apr. 30, 2015 USD ($) | Jan. 30, 2017 USD ($)
Line of Credit Facility [Line Items] |  |  |  |  |
Repayment of line of credit |  | $ 206,450 | $ 125,000 | $ 17,000 |
Line of Credit [Member] | First International Bank & Trust [Member] |  |  |  |  |
Line of Credit Facility [Line Items] |  |  |  |  |
Repayment of line of credit | $ 17,500 |  |  |  |
Credit Facility [Abstract] |  |  |  |  |
Amount available |  |  |  |  | $ 100,000
Amount outstanding |  |  | $ 17,500 |  |
Line of Credit [Member] | BMO Line of Credit [Member] |  |  |  |  |
Line of Credit Facility [Line Items] |  |  |  |  |
Borrowing capacity with accordion option |  | 250,000 |  |  |
Credit Facility [Abstract] |  |  |  |  |
Amount available |  | 206,000 |  |  |
Amount outstanding |  | $ 57,050 |  |  |
Interest rate (in hundredths) |  | 2.74% |  |  |
Maturity date | Jan. 31, 2021 | Jan. 31, 2021 |  |  |
Weighted average interest rate (in hundredths) |  | 2.67% |  |  |
Line of Credit [Member] | Minimum [Member] | BMO Line of Credit [Member] |  |  |  |  |
Line of Credit Facility [Line Items] |  |  |  |  |
Properties in unencumbered asset pool | property |  | 15 |  |  |
Line of Credit [Member] | Minimum [Member] | Base Rate [Member] | BMO Line of Credit [Member] |  |  |  |  |
Line of Credit Facility [Line Items] |  |  |  |  |
Interest rate spread (as a percent) |  | 0.60% |  |  |
Line of Credit [Member] | Minimum [Member] | London Interbank Offered Rate (LIBOR) [Member] | BMO Line of Credit [Member] |  |  |  |  |
Line of Credit Facility [Line Items] |  |  |  |  |
Interest rate spread (as a percent) |  | 1.60% |  |  |
Line of Credit [Member] | Maximum [Member] | BMO Line of Credit [Member] |  |  |  |  |
Line of Credit Facility [Line Items] |  |  |  |  |
Leverage ratio |  | 0.60 |  |  |
Line of Credit [Member] | Maximum [Member] | Base Rate [Member] | BMO Line of Credit [Member] |  |  |  |  |
Line of Credit Facility [Line Items] |  |  |  |  |
Interest rate spread (as a percent) |  | 1.25% |  |  |
Line of Credit [Member] | Maximum [Member] | London Interbank Offered Rate (LIBOR) [Member] | BMO Line of Credit [Member] |  |  |  |  |
Line of Credit Facility [Line Items] |  |  |  |  |
Interest rate spread (as a percent) | 2.25% |  |  |  |

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

X
- Definition Represents the number of properties that meet certain eligibility criteria for unencumbered asset pool. + References No definition available. + Details
Name: | iret_UnencumberedAssetPoolNumberOfProperties
Namespace Prefix: | iret_
Data Type: | xbrli:integerItemType
Balance Type: | na
Period Type: | duration

X
- Definition Percentage points added to the reference rate to compute the variable rate on the debt instrument. + References No definition available. + Details
Name: | us-gaap_DebtInstrumentBasisSpreadOnVariableRate1
Namespace Prefix: | us-gaap_
Data Type: | num:percentItemType
Balance Type: | na
Period Type: | duration

X
- Definition Date when the debt instrument is scheduled to be fully repaid, in CCYY-MM-DD format. + References Reference 1: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 210 -SubTopic 10 -Section S99 -Paragraph 1 -Subparagraph (SX 210.5-02.22(a)(2)) -URI http://asc.fasb.org/extlink&oid=6877327&loc=d3e13212-122682 + Details
Name: | us-gaap_DebtInstrumentMaturityDate
Namespace Prefix: | us-gaap_
Data Type: | xbrli:dateItemType
Balance Type: | na
Period Type: | duration

X
- Definition Weighted average interest rate of debt outstanding. + References No definition available. + Details
Name: | us-gaap_DebtWeightedAverageInterestRate
Namespace Prefix: | us-gaap_
Data Type: | num:percentItemType
Balance Type: | na
Period Type: | instant

X
- Definition The carrying value as of the balance sheet date of the current and noncurrent portions of long-term obligations drawn from a line of credit, which is a bank's commitment to make loans up to a specific amount. Examples of items that might be included in the application of this element may consist of letters of credit, standby letters of credit, and revolving credit arrangements, under which borrowings can be made up to a maximum amount as of any point in time conditional on satisfaction of specified terms before, as of and after the date of drawdowns on the line. Includes short-term obligations that would normally be classified as current liabilities but for which (a) postbalance sheet date issuance of a long term obligation to refinance the short term obligation on a long term basis, or (b) the enterprise has entered into a financing agreement that clearly permits the enterprise to refinance the short-term obligation on a long term basis and the following conditions are met (1) the agreement does not expire within 1 year and is not cancelable by the lender except for violation of an objectively determinable provision, (2) no violation exists at the BS date, and (3) the lender has entered into the financing agreement is expected to be financially capable of honoring the agreement. + References Reference 1: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 210 -SubTopic 10 -Section S99 -Paragraph 1 -Subparagraph (SX 210.5-02(22)) -URI http://asc.fasb.org/extlink&oid=6877327&loc=d3e13212-122682 Reference 2: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 944 -SubTopic 210 -Section S99 -Paragraph 1 -Subparagraph (SX 210.7-03(16)) -URI http://asc.fasb.org/extlink&oid=6879938&loc=d3e572229-122910 Reference 3: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 942 -SubTopic 210 -Section S99 -Paragraph 1 -Subparagraph (SX 210.9-03(16)) -URI http://asc.fasb.org/extlink&oid=6876686&loc=d3e534808-122878 + Details
Name: | us-gaap_LineOfCredit
Namespace Prefix: | us-gaap_
Data Type: | xbrli:monetaryItemType
Balance Type: | credit
Period Type: | instant

X
- Definition Amount of current borrowing capacity under the credit facility considering any current restrictions on the amount that could be borrowed (for example, borrowings may be limited by the amount of current assets), but without considering any amounts currently outstanding under the facility. + References Reference 1: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 210 -SubTopic 10 -Section S99 -Paragraph 1 -Subparagraph (SX 210.5-02.19(b),22(b)) -URI http://asc.fasb.org/extlink&oid=6877327&loc=d3e13212-122682 + Details
Name: | us-gaap_LineOfCreditFacilityCurrentBorrowingCapacity
Namespace Prefix: | us-gaap_
Data Type: | xbrli:monetaryItemType
Balance Type: | credit
Period Type: | instant

X
- Definition The effective interest rate during the reporting period. + References Reference 1: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 210 -SubTopic 10 -Section S99 -Paragraph 1 -Subparagraph (SX 210.5-02.19(b),22(b)) -URI http://asc.fasb.org/extlink&oid=6877327&loc=d3e13212-122682 + Details
Name: | us-gaap_LineOfCreditFacilityInterestRateDuringPeriod
Namespace Prefix: | us-gaap_
Data Type: | num:percentItemType
Balance Type: | na
Period Type: | duration

X
- Definition Line items represent financial concepts included in a table. These concepts are used to disclose reportable information associated with domain members defined in one or many axes to the table. + References No definition available. + Details
Name: | us-gaap_LineOfCreditFacilityLineItems
Namespace Prefix: | us-gaap_
Data Type: | xbrli:stringItemType
Balance Type: | na
Period Type: | duration

X
- Definition Maximum borrowing capacity under the credit facility without consideration of any current restrictions on the amount that could be borrowed or the amounts currently outstanding under the facility. + References Reference 1: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 210 -SubTopic 10 -Section S99 -Paragraph 1 -Subparagraph (SX 210.5-02.19(b),22(b)) -URI http://asc.fasb.org/extlink&oid=6877327&loc=d3e13212-122682 + Details
Name: | us-gaap_LineOfCreditFacilityMaximumBorrowingCapacity
Namespace Prefix: | us-gaap_
Data Type: | xbrli:monetaryItemType
Balance Type: | credit
Period Type: | instant

X
- Definition Indebtedness divided by net capital. + References No definition available. + Details
Name: | us-gaap_RatioOfIndebtednessToNetCapital1
Namespace Prefix: | us-gaap_
Data Type: | xbrli:pureItemType
Balance Type: | na
Period Type: | instant

X
- Definition Amount of cash outflow for payment of an obligation from a lender, including but not limited to, letter of credit, standby letter of credit and revolving credit arrangements. + References Reference 1: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 230 -SubTopic 10 -Section 45 -Paragraph 15 -Subparagraph (b) -URI http://asc.fasb.org/extlink&oid=66902209&loc=d3e3291-108585 Reference 2: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Glossary Financing Activities -URI http://asc.fasb.org/extlink&oid=6513228 Reference 3: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 235 -SubTopic 10 -Section S99 -Paragraph 1 -Subparagraph (SX 210.4-08.(f)) -URI http://asc.fasb.org/extlink&oid=26873400&loc=d3e23780-122690 + Details
Name: | us-gaap_RepaymentsOfLinesOfCredit
Namespace Prefix: | us-gaap_
Data Type: | xbrli:monetaryItemType
Balance Type: | credit
Period Type: | duration

X
- Details
Name: | us-gaap_CreditFacilityAxis=us-gaap_LineOfCreditMember
Namespace Prefix: |
Data Type: | na
Balance Type: |
Period Type: |

X
- Details
Name: | us-gaap_LineOfCreditFacilityAxis=iret_FirstInternationalBankTrustMember
Namespace Prefix: |
Data Type: | na
Balance Type: |
Period Type: |

X
- Details
Name: | us-gaap_LineOfCreditFacilityAxis=iret_BMOLineOfCreditMember
Namespace Prefix: |
Data Type: | na
Balance Type: |
Period Type: |

X
- Details
Name: | us-gaap_RangeAxis=us-gaap_MinimumMember
Namespace Prefix: |
Data Type: | na
Balance Type: |
Period Type: |

X
- Details
Name: | us-gaap_VariableRateAxis=us-gaap_BaseRateMember
Namespace Prefix: |
Data Type: | na
Balance Type: |
Period Type: |

X
- Details
Name: | us-gaap_VariableRateAxis=us-gaap_LondonInterbankOfferedRateLIBORMember
Namespace Prefix: |
Data Type: | na
Balance Type: |
Period Type: |

X
- Details
Name: | us-gaap_RangeAxis=us-gaap_MaximumMember
Namespace Prefix: |
Data Type: | na
Balance Type: |
Period Type: |