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INVESTMENT ASSETS
9 Months Ended
Jan. 31, 2025
INVESTMENT ASSETS  
INVESTMENT ASSETS

(3)          INVESTMENT ASSETS

Investment assets, net consist of (in thousands):

    

January 31,

    

April 30,

2025

2024

Land held for long-term investment

$

8,879

$

9,200

Owned real estate leased or intended to be leased

 

5,781

 

3,449

Less accumulated depreciation

(162)

(98)

Owned real estate leased or intended to be leased, net

5,619

3,351

Total

$

14,498

$

12,551

Refer to Note 3 to the consolidated financial statements contained in the 2024 Form 10-K for detail regarding investment assets. As of January 31, 2025, fifteen homes were leased to residential tenants. As of April 30, 2024, ten homes were leased to residential tenants. Depreciation associated with owned real estate leased or intended to be leased was $33,000 and $64,000 for the three and nine months ended January 31, 2025 and $12,000 and $60,000 for the three and nine months ended January 31, 2024.