XML 18 R8.htm IDEA: XBRL DOCUMENT v3.6.0.2
INVESTMENT ASSETS
 9 Months Ended
Jan. 31, 2017
Investment Assets [Abstract]  
Investment Assets Disclosure [Text Block]
(3)
INVESTMENT ASSETS
 
Investment assets, net consist of the following (in thousands):
 
 
 
January 31, 
2017
 
April 30, 
2016
 
 
 
 
 
 
 
 
 
Land held for long-term investment
 
$
9,715
 
$
9,717
 
Other
 
 
-
 
 
609
 
 
 
$
9,715
 
$
10,326
 
 
Land held for long-term investment represents property located in areas that are not planned to be developed in the near term and thus has not been offered for sale. As of January 31, 2017, the Company held approximately 12,000 acres of land in New Mexico classified as land held for long-term investment.
 
At April 30, 2016, Other included an approximately 2,200 square foot, single tenant retail commercial building on property owned by a subsidiary of AMREP Southwest in Rio Rancho, New Mexico. In the first quarter of 2017, this property was sold (see Note 8).