INVESTMENT ASSETS, NET

12 Months Ended

Apr. 30, 2023

INVESTMENT ASSETS, NET

INVESTMENT ASSETS

(3)          INVESTMENT ASSETS, NET

Investment assets, net consist of (in thousands):

	April 30,
	2023		2022
Land held for long-term investment	$	8,961	$	9,017
Owned real estate leased or intended to be leased		4,802		—
Less accumulated depreciation		(16)		—
Owned real estate leased or intended to be leased, net		4,786		—
Total	$	13,747	$	9,017

As of April 30, 2023, eight homes are leased to residential tenants and two buildings under construction have been leased to commercial tenants. Depreciation associated with owned real estate leased or intended to be leased was $16,000 for 2023; there was no such depreciation in 2022.