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INVESTMENT ASSETS

3 Months Ended

Jul. 31, 2023

INVESTMENT ASSETS

INVESTMENT ASSETS

(3)          INVESTMENT ASSETS

Investment assets, net consist of (in thousands):

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​	​	​	​	​	​	​
​		July 31,			April 30,
​	​	2023		​	2023
Land held for long-term investment	​	$	9,108	​	$	8,961
Owned real estate leased or intended to be leased	​		7,471	​		4,802
Less accumulated depreciation	​	​	(35)	​	​	(16)
Owned real estate leased or intended to be leased, net	​	​	7,436	​	​	4,786
Total	​	$	16,544	​	$	13,747

​

As of July 31, 2023, nine homes were leased to residential tenants and two buildings under construction were leased to commercial tenants. As of April 30, 2023, eight homes were leased to residential tenants and two buildings under construction were leased to commercial tenants. Depreciation associated with owned real estate leased or intended to be leased was $19,000 for the three months ended July 31, 2023 and there was no such depreciation for the three months ended July 31, 2022.

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- Definition

The entire disclosure for real estate investment assets like, the value of land held for long-term investment as well as other real estate investment assets related disclosures.

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