REDEEMABLE NONCONTROLLING INTERESTS (Tables)

12 Months Ended

Apr. 30, 2014

REDEEMABLE NONCONTROLLING INTERESTS [Abstract]

Redeemable Noncontrolling Interest

As of April 30, 2014 and 2013, the estimated redemption value of the redeemable noncontrolling interests was $6.2 million and $5.9 million, respectively. The redeemable noncontrolling interest recorded in fiscal years 2014 and 2013 is the noncontrolling interest in the joint venture entity that owns the Company's Southgate apartments project in Minot, North Dakota. The redeemable noncontrolling interest on the Company's Consolidated Balance Sheets in fiscal year 2012 was the noncontrolling interest in the joint venture owner of the Company's Golden Hills office property in Golden Valley, Minnesota, which interest the Company acquired from its joint venture partner in the third quarter of fiscal year 2012. Below is a table reflecting the activity of the redeemable noncontrolling interests.

	(in thousands)
	2014		2013		2012
Balance at beginning of fiscal year	$	5,937	$	0	$	987
Contributions		0		5,932		0
Net income		266		5		12
Net distributions		0		0		(27)
Fair value adjustments		0		0		35
Acquisition of joint venture partner's interest		0		0		(1,007)
Balance at close of fiscal year	$	6,203	$	5,937	$	0