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ACQUISITIONS AND DISPOSITIONS | 3 Months Ended
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Jul. 31, 2018
Business Combinations [Abstract] |
ACQUISITIONS AND DISPOSITIONS | ACQUISITIONS AND DISPOSITIONS PROPERTY ACQUISITIONS We added no new real estate property to our portfolio through property acquisitions during the three months ended July 31, 2018, compared to $61.5 million in the three months ended July 31, 2017. Our acquisitions during the three months ended July 31, 2017 are detailed below. Three Months Ended July 31, 2017
| Date Acquired |  | (in thousands)
|  | Total Acquisition Cost |  |  | Investment Allocation
Acquisitions |  |  | Land |  |  | Building |  |  | Intangible Assets |
Multifamily |  |  |  |  |  |  |  |  |
191 unit - Oxbo - St. Paul, MN(1) | May 26, 2017 |  | $ | 61,500 |  |  | $ | 5,809 |  |  | $ | 54,910 |  |  | $ | 781 |
Total Property Acquisitions |  |  | $ | 61,500 |  |  | $ | 5,809 |  |  | $ | 54,910 |  |  | $ | 781 |
(1) | Property includes 11,477 square feet of retail space.
PROPERTY DISPOSITIONS During the three months ended July 31, 2018, we sold three apartment communities, two commercial properties, and two parcels of land for a total sale price of $49.1 million. During the three months ended July 31, 2017, we sold one commercial property for a total sale price of $3.4 million. The following table details our dispositions for the three months ended July 31, 2018 and 2017: Three Months Ended July 31, 2018
|  |  | (in thousands) |
Dispositions | Date Disposed |  | Sales Price |  | Book Value and Sale Cost |  | Gain/(Loss) |
Multifamily |  |  |  |  |  |  |  |
44 unit - Dakota Commons - Williston, ND | July 26, 2018 |  | $ | 4,420 |  |  | $ | 3,878 |  |  | $ | 542 |  |
145 unit - Williston Garden - Williston, ND(1) | July 26, 2018 |  | 12,310 |  |  | 11,313 |  |  | 997 |  |
288 unit - Renaissance Heights - Williston, ND(2) | July 26, 2018 |  | 24,770 |  |  | 17,856 |  |  | 6,914 |  |
|  |  | 41,500 |  |  | 33,047 |  |  | 8,453 |  |
Other |  |  |  |  |  |  |  |
7,849 sq ft Minot Southgate Retail - Minot, ND | July 12, 2018 |  | $ | 1,925 |  |  | $ | 2,056 |  |  | $ | (131 | ) |
9,052 sq ft Fresenius - Duluth, MN | July 27, 2018 |  | 1,900 |  |  | 1,078 |  |  | $ | 822 |  |
|  |  | 3,825 |  |  | 3,134 |  |  | 691 |  |
Unimproved Land |  |  |  |  |  |  |  |
Grand Forks - Grand Forks, ND | July 16, 2018 |  | $ | 3,000 |  |  | $ | 2,986 |  |  | $ | 14 |  |
Renaissance Heights - Williston, ND(3) | July 26, 2018 |  | 750 |  |  | 684 |  |  | 66 |  |
|  |  | 3,750 |  |  | 3,670 |  |  | 80 |  |
Total Property Dispositions |  |  | $ | 49,075 |  |  | $ | 39,851 |  |  | $ | 9,224 |  |
(1) | This apartment community was owned by a joint venture entity in which we had an interest of approximately 74.11%. The joint venture is consolidated in our financial statements.
(2) | This apartment community was owned by a joint venture entity in which we had an interest of approximately 87.14%. The joint venture is consolidated in our financial statements.
(3) | This parcel of land was owned by a joint venture entity in which we had an interest of approximately 70.00%. The joint venture is consolidated in our financial statements.
Three Months Ended July 31, 2017
|  |  | (in thousands) |
Dispositions | Date Disposed |  | Sale Price |  | Book Value and Sale Cost |  | Gain/(Loss) |
Other |  |  |  |  |  |  |  |
4,998 sq ft Minot Southgate Wells Fargo Bank - Minot, ND | May 15, 2017 |  | $ | 3,440 |  |  | $ | 3,332 |  |  | $ | 108 |  |
Total Property Dispositions |  |  | $ | 3,440 |  |  | $ | 3,332 |  |  | $ | 108 |  |

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- Definition The entire disclosure for business combinations, including leverage buyout transactions (as applicable), and divestitures. This may include a description of a business combination or divestiture (or series of individually immaterial business combinations or divestitures) completed during the period, including background, timing, and assets and liabilities recognized and reclassified or sold. This element does not include fixed asset sales and plant closings. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 205 -SubTopic 20 -URI http://asc.fasb.org/subtopic&trid=2122178 Reference 2: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 805 -URI http://asc.fasb.org/topic&trid=2303972 + Details
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