SEGMENT REPORTING (Tables)

3 Months Ended

Jul. 31, 2012

SEGMENT REPORTING [Abstract]

Revenues and net operating income for reportable segments

The revenues and net operating income for these reportable segments are summarized as follows for the three month periods ended July 31, 2012 and 2011, along with reconciliations to the condensed consolidated financial statements. Segment assets are also reconciled to total assets as reported in the condensed consolidated financial statements.

	(in thousands)
Three Months Ended July 31, 2012	Multi-FamilyResidential		Commercial-Office		Commercial-Medical		Commercial-Industrial		Commercial-Retail		Total
Real estate revenue	$	21,635	$	18,638	$	15,327	$	3,459	$	3,351	$	62,410
Real estate expenses		9,522		9,289		4,082		1,019		1,156		25,068
Net operating income	$	12,113	$	9,349	$	11,245	$	2,440	$	2,195		37,342
Depreciation/amortization												(16,286	)
Administrative, advisory and trustee services												(2,096	)
Other expenses												(519	)
Interest expense												(16,517	)
Interest and other income												142
Income from continuing operations												2,066
Loss from discontinued operations												(70	)
Net income											$	1,996

	(in thousands)
Three Months Ended July 31, 2011	Multi-FamilyResidential		Commercial-Office		Commercial-Medical		Commercial-Industrial		Commercial-Retail		Total
Real estate revenue	$	17,482	$	18,815	$	16,617	$	3,435	$	3,208	$	59,557
Real estate expenses		8,366		8,944		5,520		966		1,063		24,859
Net operating income	$	9,116	$	9,871	$	11,097	$	2,469	$	2,145		34,698
Depreciation/amortization												(14,873	)
Administrative, advisory and trustee services												(2,181	)
Other expenses												(315	)
Interest expense												(15,881	)
Interest and other income												153
Income from continuing operations												1,601
Loss from discontinued operations												(28	)
Net income											$	1,573

Segment Assets and Accumulated Depreciation

Segment assets are summarized as follows as of July 31, 2012, and April 30, 2012, along with reconciliations to the condensed consolidated financial statements:

	(in thousands)
As of July 31, 2012	Multi-FamilyResidential			Commercial-Office			Commercial-Medical			Commercial-Industrial			Commercial-Retail			Total
Segment Assets
Property owned	$	622,873		$	607,182		$	501,649		$	119,287		$	128,108		$	1,979,099
Less accumulated depreciation		(133,127	)		(125,743	)		(82,310	)		(21,448	)		(24,658	)		(387,286	)
Total property owned	$	489,746		$	481,439		$	419,339		$	97,839		$	103,450			1,591,813
Real estate held for sale																	1,131
Cash and cash equivalents																	37,002
Other investments																	635
Receivables and other assets																	114,990
Development in progress																	10,498
Unimproved land																	10,990
Total assets																$	1,767,059

	(in thousands)
As of April 30, 2012	Multi-FamilyResidential			Commercial-Office			Commercial-Medical			Commercial-Industrial			Commercial-Retail			Total
Segment assets
Property owned	$	539,783		$	605,318		$	500,268		$	119,002		$	127,638		$	1,892,009
Less accumulated depreciation		(128,834	)		(121,422	)		(78,744	)		(20,693	)		(23,797	)		(373,490	)
Total property owned	$	410,949		$	483,896		$	421,524		$	98,309		$	103,841			1,518,519
Real estate held for sale																	2,067
Cash and cash equivalents																	39,989
Other investments																	634
Receivables and other assets																	114,569
Development in progress																	27,599
Unimproved land																	10,990
Total assets																$	1,714,367