FAIR VALUE MEASUREMENTS (Tables)

3 Months Ended

Jul. 31, 2017

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
July 31, 2017
Real estate held for sale(1)	$	3,175	$	—	$	—	$	3,175
April 30, 2017
Real estate investments	$	506	$	—	$	—	$	506
Real estate held for sale(1)	$	10,891	$	—	$	—	$	10,891

(1) Represents only the portion of real estate held for sale that was written-down to estimated fair value.

Estimated Fair Values of Financial Instruments

The estimated fair values of our financial instruments as of July 31, 2017 and April 30, 2017, are as follows:

	(in thousands)
	July 31, 2017				April 30, 2017
	Carrying Amount		Fair Value		Carrying Amount		Fair Value
FINANCIAL ASSETS
Cash and cash equivalents	$	23,801	$	23,801	$	28,819	$	28,819
Other investments
FINANCIAL LIABILITIES
Other debt, including other debt related to assets held for sale		27,943		27,943		49,637		49,637
Lines of credit		125,900		125,900		57,050		57,050
Mortgages payable		664,029		678,407		665,440		680,941
Mortgages payable related to assets held for sale		21,343		21,388		21,803		21,861