DISCONTINUED OPERATIONS

3 Months Ended

Jul. 31, 2011

Notes To Financial Statements [Abstract]

DISCONTINUED OPERATIONS

NOTE 7 . DISCONTINUED OPERATIONS

The Company reports in discontinued operations the results of operations of a property that has either been disposed of or is classified as held for sale. The Company also reports any gains or losses from the sale of a property in discontinued operations. There were no properties classified as discontinued operations during the three months ended July 31, 2011. There were no properties held for sale as of July 31, 2011 or 2010. The following information shows the effect on net income and the gains or losses from the sale of properties classified as discontinued operations for the three months ended July 31, 2010:

	(in thousands)
	Three Months Ended July 31
	2010
REVENUE
Real estate rentals	$	2,826
Tenant reimbursement		19
TOTAL REVENUE		2,845
EXPENSES
Depreciation/amortization related to real estate investments		568
Utilities		241
Maintenance		301
Real estate taxes		325
Insurance		54
Property management expenses		357
Amortization related to non-real estate investments		2
TOTAL EXPENSES		1,848
Interest expense		(691	)
Interest income		4
INCOME FROM DISCONTINUED OPERATIONS	$	310