INVESTMENT ASSETS:

12 Months Ended

Apr. 30, 2017

Investment Assets Disclosure [Text Block]

(4)

INVESTMENT ASSETS:

Investment assets consist of:

	April 30,
	2017		2016
	(in thousands)

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 April 30, 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 building on property owned by a subsidiary of AMREP Southwest in Rio Rancho, New Mexico. In 2017, this property was sold, which resulted in a pre-tax gain of $1,496,000. The pre-tax gain is included in Other revenues in the accompanying consolidated statements of operations.