CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($) $ in Thousands	12 Months Ended
	Apr. 30, 2018	Apr. 30, 2017	Apr. 30, 2016
CASH FLOWS FROM OPERATING ACTIVITIES
Net income	$ 127,629	$ 30,525	$ 76,602
Adjustments to reconcile net income to net cash provided by operating activities:
Depreciation and amortization	83,276	46,135	41,098
Depreciation and amortization from discontinued operations	8,526	10,477	24,357
Gain on sale of real estate, land, other investments and discontinued operations	(183,687)	(74,847)	(33,423)
(Gain) loss on extinguishment of debt and discontinued operations	608	1,041	(35,552)
Gain on bargain purchase	0	0	(3,424)
Share-based compensation expense	1,587	6	2,256
Impairment of real estate investments	18,065	57,028	5,983
Other, net	1,457	499	651
Write off of development pursuit costs	0	3,161	0
Changes in other assets and liabilities:
Other assets	(1,575)	(2,529)	2,237
Accounts payable and accrued expenses	(7,851)	2,434	(14,292)
Net cash provided (used) by operating activities	48,035	73,930	66,493
CASH FLOWS FROM INVESTING ACTIVITIES
Proceeds from real estate deposits	154,927	1,370	5,203
Payments for real estate deposits	(131,268)	(25,029)	(2,714)
Increase in loans receivable	(15,480)	0	0
Decrease in other investments	0	50	279
Decrease in lender holdbacks for improvements	1,619	2,665	4,347
Increase in lender holdbacks for improvements	(1,201)	(903)	(1,136)
Proceeds from sale of discontinued operations	426,131	237,135	365,845
Proceeds from sale of real estate and other investments	64,639	47,354	40,306
Insurance proceeds received	584	88	1,320
Payments for acquisitions of real estate assets	(374,081)	0	(121,821)
Payments for development and re-development of real estate assets	(2,655)	(18,274)	(122,801)
Payments for improvements of real estate assets	(17,980)	(41,083)	(26,904)
Payments for improvements of real estate assets from discontinued operations	(1,046)	(1,110)	(7,672)
Net cash provided (used) by investing activities	104,189	202,263	134,252
CASH FLOWS FROM FINANCING ACTIVITIES
Proceeds from mortgages payable	0	84,150	143,574
Principal payments on mortgages payable	(198,320)	(295,136)	(234,885)
Proceeds from revolving lines of credit	370,350	246,000	82,000
Principal payments on revolving lines of credit	(303,400)	(206,450)	(125,000)
Proceeds from notes payable and other debt	3,252	19,341	94,142
Principal payments on notes payable and other debt	(21,689)	(49,080)	(24,754)
Payoff of financing liability	(7,900)	0	0
Proceeds from term loan	69,462	0	0
Proceeds from sale of common shares under distribution reinvestment and share purchase program	0	0	1,493
Additions to notes receivable from noncontrolling partner – consolidated real estate entities	0	(9,211)	0
Proceeds from noncontrolling partner – consolidated real estate entities	0	9,749	1,120
Payments for acquisition of noncontrolling interests – consolidated real estate entities	0	(4,938)	0
Proceeds from sale of preferred shares	99,467	0	0
Repurchase of common shares	(9,935)	(4,501)	(35,000)
Repurchase of preferred shares	(115,017)	(28,752)	0
Repurchase of partnership units	(8,775)	(966)	0
Distributions paid to common shareholders	(33,689)	(55,907)	(60,063)
Distributions paid to preferred shareholders	(8,763)	(10,744)	(11,514)
Distributions paid to noncontrolling interests – Unitholders of the Operating Partnership	(4,096)	(7,453)	(7,101)
Distributions paid to noncontrolling interests – consolidated real estate entities	(99)	(174)	(7,029)
Net cash provided (used) by financing activities	(169,152)	(314,072)	(183,017)
NET INCREASE (DECREASE) IN CASH AND CASH EQUIVALENTS	(16,928)	(37,879)	17,728
CASH AND CASH EQUIVALENTS AT BEGINNING OF YEAR	28,819	66,698	48,970
CASH AND CASH EQUIVALENTS AT END OF YEAR	11,891	28,819	66,698
SUPPLEMENTARY SCHEDULE OF NON-CASH INVESTING AND FINANCING ACTIVITIES
Distribution reinvestment plan – shares issued	0	0	3,997
Operating partnership distribution reinvestment plan – shares issued	0	0	130
Operating partnership units converted to shares	34	875	1,477
Real estate assets acquired through the issuance of operating partnership units	0	0	18,226
(Decrease) increase to accounts payable included within real estate investments	(3,415)	(1,851)	(10,420)
Conversion to equity of notes receivable from noncontrolling interests – consolidated real estate entities	0	9,846	0
Construction debt reclassified to mortgages payable	23,300	10,549	123,553
Increase in mortgage notes receivable	10,329	0	0
Decrease in real estate assets in connection with transfer of real estate assets in settlement of debt	0	0	87,213
Decrease in debt in connection with transfer of real estate assets in settlement of debt	0	0	122,610
SUPPLEMENTAL DISCLOSURE OF CASH FLOW INFORMATION
Cash paid for interest, net of amounts capitalized of $4, $431 and $4,396, respectively	$ 35,758	$ 34,432	$ 39,668