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SUBSEQUENT EVENTS | 3 Months Ended
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Jul. 31, 2017
SUBSEQUENT EVENTS [Abstract] |
SUBSEQUENT EVENTS | NOTE 14 • SUBSEQUENT EVENTS Common and Preferred Share Distributions. On September 6, 2017, our Board of Trustees declared the following distributions:
|  | Quarterly Amount |  |  |  |  |
Class of shares/units |  | per Share or Unit |  | Record Date |  | Payment Date |
Common shares and limited partnership units |  | $ | 0.07 |  | September 15, 2017 |  | October 2, 2017 |
Preferred shares: |  |  |  |  |  |  |  |
Series B |  | $ | 0.496875 |  | September 15, 2017 |  | October 2, 2017 |
Completed Acquisition. On August 21, 2017, we repurchased two senior housing properties for $36.9 million, of which $7.9 million was paid in cash and $29.0 million was in the form of the cancellation of a contract for deed. The cash paid eliminated a financing liability within other liabilities on our Condensed Consolidated Balance Sheets. The properties had originally been sold during fiscal year 2014 in a sale-leaseback transaction that we accounted for as a financing liability due to our continuing involvement with the properties. We currently have a signed sales agreement for the disposition of these two senior housing properties for a total sales price of $36.9 million. Completed Dispositions. On August 8, 2017, we sold a parcel of unimproved land in Bismarck, ND, for a sale price of $3.2 million. On August 22, 2017, we sold an industrial property in Eagan, MN, for a sale price of $9.0 million and 13 multifamily properties in Minot, ND, for a sale price of $12.3 million. On August 24, 2017, we sold a healthcare property in Eagan, MN, for a sale price of $2.1 million. Pending Acquisition. On August 25, 2017, we signed a purchase agreement for the acquisition of a 500-unit multifamily property in Plymouth, MN for a purchase price of $92.3 million, to be paid in cash. At September 6, 2017, our $7.0 million earnest money deposit on the acquisition became nonrefundable. This pending acquisition is subject to various closing conditions, and no assurances can be given that the transaction will be completed on the terms currently proposed, or at all.

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- Definition The entire disclosure for significant events or transactions that occurred after the balance sheet date through the date the financial statements were issued or the date the financial statements were available to be issued. Examples include: the sale of a capital stock issue, purchase of a business, settlement of litigation, catastrophic loss, significant foreign exchange rate changes, loans to insiders or affiliates, and transactions not in the ordinary course of business. + References No definition available. + Details
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