DISCONTINUED OPERATIONS (Tables)

3 Months Ended

Jul. 31, 2017

DISCONTINUED OPERATIONS [Abstract]

Effect on Net Income and Gains or Losses From Sale Of Properties Classified as Discontinued Operations

The following information shows the effect on net income and the gains or losses from the sales of properties classified as discontinued operations for the three months ended July 31, 2017 and 2016:

	(in thousands)
	Three Months Ended
	July 31,
	2017		2016
REVENUE
Real estate rentals	$	790	$	5,010
Tenant reimbursement		—		114
TRS senior housing revenue		—		873
TOTAL REVENUE		790		5,997
EXPENSES
Real estate taxes		—		112
Depreciation and amortization		—		16
TRS senior housing expenses		—		784
TOTAL EXPENSES		—		912
Operating income		790		5,085
Interest expense		(821)		(1,374)
Interest income		544		544
Other income		47		313
INCOME FROM DISCONTINUED OPERATIONS	$	560	$	4,568

Reconciliation of Assets and Liabilities of Discontinued Operations to Assets and Liabilities Held for Sale That Are Presented Separately on Condensed Consolidated Balance Sheets

The following information reconciles the carrying amounts of major classes of assets and liabilities of the discontinued operations to assets and liabilities held for sale that are presented separately on the Condensed Consolidated Balance Sheets:

	(in thousands)
	July 31, 2017		April 30, 2017
Carrying amounts of major classes of assets included as part of discontinued operations
Property owned and intangible assets, net of accumulated depreciation and amortization	$	21,332	$	21,332
Receivable arising from straight-lining of rents		2,202		2,283
Goodwill		14		14
Total major classes of assets of the discontinued operations		23,548		23,629
Other assets included in the disposal group classified as held for sale		14,004		14,079
Total assets of the disposal group classified as held for sale on the balance sheet	$	37,552	$	37,708
Carrying amounts of major classes of liabilities included as part of discontinued operations
Accounts payable and accrued expenses	$	59	$	52
Mortgages payable		15,863		16,226
Other		7,900		7,900
Total major classes of liabilities of the discontinued operations		23,822		24,178
Other liabilities included in the disposal group classified as held for sale		5,861		5,884
Total liabilities of the disposal group classified as held for sale on the balance sheet	$	29,683	$	30,062