FAIR VALUE MEASUREMENTS (Tables)

3 Months Ended

Jul. 31, 2018

Fair Value Disclosures [Abstract]

Fair Value of Assets Measured on Recurring Basis

The fair value of the derivative by its level in the fair value hierarchy is as follows:

		(in thousands)
	Balance Sheet Location	Total		Level 1	Level 2		Level 3
July 31, 2018
Derivative instrument - interest rate swap	Other Assets	$	1,987	—	$	1,987	—
April 30, 2018
Derivative instrument - interest rate swap	Other Assets	$	1,779	—	$	1,779	—

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
April 30, 2018
Real estate investments	$	52,145	—	—	$	52,145

Estimated Fair Values of Financial Instruments

The estimated fair values of our financial instruments as of July 31, 2018, and April 30, 2018, respectively, are as follows:

	(in thousands)
	July 31, 2018				April 30, 2018
	Carrying Amount		Fair Value		Carrying Amount		Fair Value
FINANCIAL ASSETS
Cash and cash equivalents	$	16,261	$	16,261	$	11,891	$	11,891
FINANCIAL LIABILITIES
Other debt, including other debt related to assets held for sale	—		—		$	—	$	—
Revolving line of credit	$	130,000	$	130,000	$	124,000	$	124,000
Term loan(1)	$	70,000	$	70,000	$	70,000	$	70,000
Mortgages payable	$	466,555	$	465,445	$	509,919	$	510,803

(1) Excluding the effect of the interest rate swap agreement.