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CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS (unaudited) - USD ($)
3 Months Ended
Jul. 31, 2018
Jul. 31, 2017
CASH FLOWS FROM OPERATING ACTIVITIES    
Net income (loss) $ 3,716,000 $ (13,279,000)
Adjustments to reconcile net income (loss) to net cash provided by operating activities:    
Depreciation and amortization, including amortization of capitalized loan costs 18,944,000 25,616,000
Depreciation and amortization from discontinued operations, including amortization of capitalized loan costs 0 3,622,000
Gain on sale of real estate, land, other investments and discontinued operations (9,794,000) (124,000)
Loss on extinguishment of debt 482,000 133,000
Share-based compensation expense 114,000 376,000
Impairment of real estate investments 0 256,000
Other, net 399,000 171,000
Changes in other assets and liabilities:    
Other assets 850,000 950,000
Accounts payable and accrued expenses 13,000 (1,974,000)
Net cash provided by operating activities 14,724,000 15,747,000
CASH FLOWS FROM INVESTING ACTIVITIES    
Principal proceeds on mortgage loans receivable 425,000 0
Increase in notes receivable (736,000) (3,000,000)
Proceeds from sale of real estate and other investments 49,276,000 3,300,000
Insurance proceeds received 632,000 542,000
Payments for acquisitions of real estate assets (585,000) (61,734,000)
Payments for development and re-development of real estate assets 0 (2,219,000)
Payments for improvements of real estate assets (5,094,000) (4,984,000)
Payments for improvements of real estate assets from discontinued operations 0 (503,000)
Net cash provided by (used by) investing activities 43,918,000 (68,598,000)
CASH FLOWS FROM FINANCING ACTIVITIES    
Principal payments on mortgages payable, including prepayment penalties (46,150,000) (25,406,000)
Proceeds from revolving lines of credit 27,000,000 72,350,000
Principal payments on revolving lines of credit (21,000,000) (3,500,000)
Proceeds from construction debt 0 1,606,000
Repurchase of common shares (615,000) (3,936,000)
Repurchase of partnership units (480,000) (5,735,000)
Distributions paid to common shareholders (8,358,000) (8,444,000)
Distributions paid to preferred shareholders (1,705,000) (2,285,000)
Distributions paid to noncontrolling interests – Unitholders of the Operating Partnership (987,000) (1,065,000)
Distributions paid to noncontrolling interests – consolidated real estate entities (2,099,000) (20,000)
Net cash provided by (used by) financing activities (54,394,000) 23,565,000
NET INCREASE (DECREASE) IN CASH, CASH EQUIVALENTS, AND RESTRICTED CASH 4,248,000 (29,286,000)
CASH, CASH EQUIVALENTS, AND RESTRICTED CASH AT BEGINNING OF PERIOD 16,116,000 56,800,000
CASH, CASH EQUIVALENTS, AND RESTRICTED CASH AT END OF PERIOD 20,364,000 27,514,000
SUPPLEMENTARY SCHEDULE OF NON-CASH INVESTING AND FINANCING ACTIVITIES    
Operating partnership units converted to shares 291,000 0
Decrease to accounts payable included within real estate investments (806,000) (1,377,000)
Notes and accounts receivable converted to equity 670,000 0
Construction debt reclassified to mortgages payable 0 23,300,000
SUPPLEMENTAL DISCLOSURE OF CASH FLOW INFORMATION    
Cash paid for interest $ 8,014,000 $ 8,125,000