INVESTMENT ASSETS

3 Months Ended

Jul. 31, 2016

Investment Assets Disclosure [Text Block]

(3)

INVESTMENT ASSETS

Investment assets, net consist of the following (in thousands):

	July 31, 2016		April 30, 2016

Land held for long-term investment	$	9,716	$	9,717
Other		-		609
	$	9,716	$	10,326

Land held for long-term investment represents property located in areas that are not planned to be developed in the near term and thus has not been offered for sale. As of July 31, 2016, the Company held approximately 12,000 acres of land in New Mexico classified as land held for long-term investment.

At April 30, 2016, Other included an approximately 2,200 square foot, single tenant retail commercial building on property owned by the AMREP Southwest in Rio Rancho, New Mexico. In the first quarter of 2017, the Company sold this property (see Note 8).