CONDENSED CONSOLIDATED BALANCE SHEETS (unaudited) - USD ($) $ in Thousands	Jul. 31, 2018	Apr. 30, 2018
Real estate investments
Property owned	$ 1,636,233	$ 1,669,764
Less accumulated depreciation	(326,772)	(311,324)
Total property owned	1,309,461	1,358,440
Unimproved land	7,926	11,476
Mortgage loans receivable	10,530	10,329
Total real estate investments	1,327,917	1,380,245
Cash and cash equivalents	16,261	11,891
Restricted cash	4,103	4,225
Other assets	27,885	30,297
TOTAL ASSETS	1,376,166	1,426,658
LIABILITIES
Accounts payable and accrued expenses	28,112	29,018
Revolving line of credit	130,000	124,000
Term loan, net of unamortized loan costs of $460 and $486, respectively	69,540	69,514
Mortgages payable, net of unamortized loan costs of $1,998 and $2,221, respectively	464,557	509,919
TOTAL LIABILITIES	692,209	732,451
COMMITMENTS AND CONTINGENCIES (NOTE 6)
REDEEMABLE NONCONTROLLING INTERESTS – CONSOLIDATED REAL ESTATE ENTITIES	6,230	6,644
EQUITY
Series C Preferred Shares of Beneficial Interest (Cumulative redeemable preferred shares, no par value, $25 per share liquidation preference, 4,118 shares issued and outstanding at July 31, 2018 and April 30, 2018, aggregate liquidation preference of $102,971)	99,456	99,456
Common Shares of Beneficial Interest (Unlimited authorization, no par value, 119,507 shares issued and outstanding at July 31, 2018 and 119,526 shares issued and outstanding at April 30, 2018)	899,708	900,097
Accumulated distributions in excess of net income	(402,190)	(395,669)
Accumulated other comprehensive income	1,987	1,779
Total shareholders’ equity	598,961	605,663
Noncontrolling interests – Operating Partnership (13,895 units at July 31, 2018 and 14,099 units at April 30, 2018)	71,390	73,012
Noncontrolling interests – consolidated real estate entities	7,376	8,888
Total equity	677,727	687,563
TOTAL LIABILITIES, REDEEMABLE NONCONTROLLING INTERESTS, AND EQUITY	$ 1,376,166	$ 1,426,658