CONSOLIDATED BALANCE SHEETS - USD ($) $ in Thousands	Dec. 31, 2018	Apr. 30, 2018	Apr. 30, 2017
Real estate investments
Property owned	$ 1,627,636	$ 1,669,764	$ 1,358,529
Less accumulated depreciation	(353,871)	(311,324)	(255,599)
Total property owned	1,273,765	1,358,440	1,102,930
Unimproved land	5,301	11,476	18,455
Mortgage loans receivable	10,410	10,329	0
Total real estate investments	1,289,476	1,380,245	1,121,385
Assets held for sale and assets of discontinued operations	0	0	283,023
Cash and cash equivalents	13,792	11,891	28,819
Restricted cash	5,464	4,225	27,981
Other assets	27,265	30,297	13,306
TOTAL ASSETS	1,335,997	1,426,658	1,474,514
LIABILITIES
Liabilities held for sale and liabilities of discontinued operations	0	0	130,904
Accounts payable and accrued expenses	40,892	29,018	35,566
Revolving line of credit	57,500	124,000	57,050
Term loans, net of unamortized loan costs of $1,009, $486 and $0, respectively	143,991	69,514	0
Mortgages payable, net of unamortized loan costs of $1,777, $2,221 and $3,054, respectively	444,197	509,919	565,978
Construction debt	0	0	41,741
TOTAL LIABILITIES	686,580	732,451	831,239
COMMITMENTS AND CONTINGENCIES (NOTE 13)
REDEEMABLE NONCONTROLLING INTERESTS – CONSOLIDATED REAL ESTATE ENTITIES	5,968	6,644	7,117
Investors Real Estate Trust shareholders’ equity
Common Shares of Beneficial Interest (Unlimited authorization, no par value, 11,942,372 shares issued and outstanding at December 31, 2018, 11,952,598 shares issued and outstanding at April 30, 2018 and 12,119,930 shares issued and outstanding at April 30, 2017)	899,234	900,097	908,905
Accumulated distributions in excess of net income	(429,048)	(395,669)	(466,541)
Accumulated other comprehensive income	(856)	1,779	0
Total Investors Real Estate Trust shareholders’ equity	568,786	605,663	553,721
Noncontrolling interests – consolidated real estate entities	67,916	73,012	73,233
Noncontrolling interests – consolidated real estate entities	6,747	8,888	9,204
Total equity	643,449	687,563	636,158
TOTAL LIABILITIES, REDEEMABLE NONCONTROLLING INTERESTS AND EQUITY	1,335,997	1,426,658	1,474,514
Series B Preferred Stock
Investors Real Estate Trust shareholders’ equity
Preferred Shares of Beneficial Interest (Cumulative redeemable preferred shares)	0	0	111,357
Series C Preferred Stock
Investors Real Estate Trust shareholders’ equity
Preferred Shares of Beneficial Interest (Cumulative redeemable preferred shares)	$ 99,456	$ 99,456	$ 0