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ACQUISITIONS AND DISPOSITIONS | 6 Months Ended
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Oct. 31, 2018
Business Combinations [Abstract] |
ACQUISITIONS AND DISPOSITIONS | ACQUISITIONS AND DISPOSITIONS PROPERTY ACQUISITIONS We added no new real estate to our portfolio through property acquisitions during the three and six months ended October 31, 2018, compared to $153.8 million in the six months ended October 31, 2017. Our acquisitions during the six months ended October 31, 2017 are detailed below. Six Months Ended October 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 |
500 unit - Park Place - Plymouth, MN | September 13, 2017 |  | 92,250 |  |  | 10,609 |  |  | 80,711 |  |  | 930 |
Total Property Acquisitions |  |  | $ | 153,750 |  |  | $ | 16,418 |  |  | $ | 135,621 |  |  | $ | 1,711 |
(1) | Property includes 11,477 square feet of retail space.
PROPERTY DISPOSITIONS During the three months ended October 31, 2018, we sold one commercial property and one parcel of land for a total sale price of $3.1 million. During the three months ended October 31, 2017, we sold 13 apartment communities, three healthcare properties, one industrial property, and one parcel of unimproved land for a total sale price of $63.4 million. The following table details our dispositions for the six months ended October 31, 2018 and 2017: Six Months Ended October 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 |  |
15,000 sq ft Minot 2505 16th St SW - Minot, ND | October 12, 2018 |  | 1,710 |  |  | 1,814 |  |  | (104 | ) |
|  |  | 5,535 |  |  | 4,948 |  |  | 587 |  |
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 |  |
Badger Hills Unimproved - Rochester, MN | August 29, 2018 |  | 1,400 |  |  | 1,528 |  |  | (128 | ) |
|  |  | 5,150 |  |  | 5,198 |  |  | (48 | ) |
Total Property Dispositions |  |  | $ | 52,185 |  |  | $ | 43,193 |  |  | $ | 8,992 |  |
(1) | This apartment community was owned by a joint venture entity in which we had an interest of approximately 74.11%. The joint venture was consolidated in our financial statements at October 31, 2018.
(2) | This apartment community was owned by a joint venture entity in which we had an interest of approximately 87.14%. The joint venture was consolidated in our financial statements at October 31, 2018.
(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 was consolidated in our financial statements at October 31, 2018.
Six Months Ended October 31, 2017
|  |  | (in thousands) |
Dispositions | Date Disposed |  | Sale Price |  | Book Value and Sale Cost |  | Gain/(Loss) |
Multifamily |  |  |  |  |  |  |  |
327 unit - 13 Multifamily properties - Minot, ND(1) | August 22, 2017 |  | $ | 12,263 |  |  | $ | 11,562 |  |  | $ | 701 |  |
Other |  |  |  |  |  |  |  |
4,998 sq ft Minot Southgate Wells Fargo Bank - Minot, ND | May 15, 2017 |  | 3,440 |  |  | 3,332 |  |  | 108 |  |
90,260 sq ft Lexington Commerce Center - Eagan, MN | August 22, 2017 |  | 9,000 |  |  | 3,963 |  |  | 5,037 |  |
17,640 sq ft 1440 Duckwood Medical - Eagan, MN | August 24, 2017 |  | 2,100 |  |  | 1,886 |  |  | 214 |  |
279,834 sq ft Edgewood Vista Hermantown I & II - Hermantown, MN | October 19, 2017 |  | 36,884 |  |  | 24,697 |  |  | 12,187 |  |
|  |  | 51,424 |  |  | 33,878 |  |  | 17,546 |  |
Unimproved Land |  |  |  |  |  |  |  |
Bismarck 4916 Unimproved Land - Bismarck, ND | August 8, 2017 |  | 3,175 |  |  | 3,188 |  |  | (13 | ) |
Total Property Dispositions |  |  | $ | 66,862 |  |  | $ | 48,628 |  |  | $ | 18,234 |  |
(1) | These properties include: 4th Street 4 Plex, 11th Street 3 Plex, Apartments on Main, Brooklyn Heights, Colton Heights, Fairmont, First Avenue (Apartments and Office), Pines, Southview, Summit Park, Temple (including 17 South Main Retail), Terrace Heights and Westridge.

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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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