INVESTMENT ASSETS

9 Months Ended

Jan. 31, 2023

INVESTMENT ASSETS

INVESTMENT ASSETS

(3)          INVESTMENT ASSETS

Investment assets consist of (in thousands):

	January 31,		April 30,
	2023		2022
Land held for long-term investment	$	8,962	$	9,017
Owned real estate leased or intended to be leased		2,767		—
	$	11,729	$	9,017

Land held for long-term investment represents property located in areas that are not planned to be developed in the near term and that has not been offered for sale in the normal course of business.

Owned real estate leased or intended to be leased represents homes and buildings leased or intended to be leased to third parties. As of January 31, 2023, four homes are leased to residential tenants and two buildings under construction have been leased to commercial tenants.