XML 31 R40.htm IDEA: XBRL DOCUMENT v3.2.0.727
DISCONTINUED OPERATIONS (Details)
$ in Thousands
3 Months Ended
Jul. 31, 2015
USD ($)
Property
Jul. 31, 2014
USD ($)
Apr. 30, 2015
USD ($)
REVENUE      
Real estate rentals $ 45,522 $ 43,564  
Tenant reimbursement 4,396 4,857  
TOTAL REVENUE 50,956 49,214  
EXPENSES      
Depreciation/amortization related to real estate investments 13,272 12,214  
Utilities 3,206 2,945  
Maintenance 5,374 4,986  
Real estate taxes 4,917 4,987  
Insurance 1,100 1,462  
Property management expenses 3,871 3,666  
Amortization related to non-real estate investments 171 221  
Impairment of real estate investments 1,285 2,320  
TOTAL EXPENSES 36,775 37,976  
Interest expense (9,196) (9,747)  
Default interest [1] 1,500 0  
Other income 51 126  
INCOME FROM DISCONTINUED OPERATIONS (690) 617  
Carrying amounts of major classes of assets included as part of discontinued operations      
Property owned and intangible assets, net of accumulated depreciation and amortization 414,380   $ 417,045
Receivable arising from straight-lining of rents 9,843   10,078
Accounts receivable 759   566
Prepaid and other assets 443   699
Tax, insurance and other escrow 1,017   1,176
Goodwill 193   193
Deferred charges and leasing costs 9,918   9,606
Total major classes of assets of the discontinued operations 436,553   439,363
Other assets included in the disposal group classified as held for sale 16,664   23,740
Total assets of the disposal groups classified as held for sale on the balance sheet 453,217   463,103
Carrying amounts of major classes of liabilities included as part of discontinued operations      
Accounts payable and accrued expenses 15,173   13,952
Mortgages payable 282,106   295,677
Other 0   4
Total major classes of liabilities of the discontinued operations 297,279   309,633
Other liabilities included in the disposal group classified as held for sale 11,533   11,760
Total liabilities of the disposal groups classified as held for sale on the balance sheet 308,812   $ 321,393
Defaulted Mortgage [Member]      
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items]      
Non-recourse loan $ 122,600    
Retail Properties [Member]      
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items]      
Number of properties held for sale | Property 17    
Office [Member]      
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items]      
Number of properties held for sale | Property 48    
Number of loan properties | Property 9    
Healthcare Properties [Member]      
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items]      
Number of properties held for sale | Property 1    
Discontinued Operations [Member]      
REVENUE      
Real estate rentals $ 13,614 13,562  
Tenant reimbursement 6,164 5,854  
TOTAL REVENUE 19,778 19,416  
EXPENSES      
Depreciation/amortization related to real estate investments 4,239 3,970  
Utilities 1,743 1,736  
Maintenance 2,992 2,778  
Real estate taxes 3,419 3,514  
Insurance 265 274  
Property management expenses 1,051 964  
Amortization related to non-real estate investments 624 651  
Impairment of real estate investments 440 0  
TOTAL EXPENSES 14,773 13,887  
Operating income (loss) 5,005 5,529  
Interest expense [1] (5,765) (4,917)  
Other income 70 5  
INCOME FROM DISCONTINUED OPERATIONS $ (690) $ 617  
[1] Includes $1.5 million and $0, respectively, of default interest related to a $122.6 million non-recourse loan by a Company subsidiary, for which we received a default notice from the special servicer on April 14, 2015 due to nonpayment on April 6, 2015.