FAIR VALUE MEASUREMENTS (Tables)

6 Months Ended

Oct. 31, 2015

FAIR VALUE MEASUREMENTS [Abstract]

Fair Value Measurements on a Nonrecurring Basis

The aggregate fair value of these assets by their levels in the fair value hierarchy is as follows:

	(in thousands)
	Total		Level 1		Level 2		Level 3
October 31, 2015
Real estate held for sale	$	5,615	$	0	$	0	$	5,615
April 30, 2015
Real estate held for sale		7,100		0		0		7,100

Estimated Fair Values of Financial Instruments

The estimated fair values of our financial instruments as of October 31, 2015 and April 30, 2015, are as follows:

	(in thousands)
	October 31, 2015				April 30, 2015
	Carrying Amount		Fair Value		Carrying Amount		Fair Value
FINANCIAL ASSETS
Cash and cash equivalents	$	55,133	$	55,133	$	48,970	$	48,970
Other investments		329		329		329		329
FINANCIAL LIABILITIES
Other debt		128,362		128,007		144,090		143,749
Line of credit		17,500		17,500		60,500		60,500
Mortgages payable		728,973		783,921		668,112		749,604
Mortgages payable related to assets held for sale		133,398		163,117		306,716		374,818