BASIS OF PRESENTATION AND SIGNIFICANT ACCOUNTING POLICIES (Tables)

6 Months Ended

Oct. 31, 2012

BASIS OF PRESENTATION AND SIGNIFICANT ACCOUNTING POLICIES [Abstract]

Identified intangible assets and intangible liabilities

The Company's identified intangible assets and intangible liabilities at October 31, 2012 and April 30, 2012 were as follows:

	(in thousands)
	October 31, 2012			April 30, 2012
Identified intangible assets (included in intangible assets):
Gross carrying amount	$	67,860		$	92,401
Accumulated amortization		(25,579	)		(47,813	)
Net carrying amount	$	42,281		$	44,588
Identified intangible liabilities (included in other liabilities):
Gross carrying amount	$	408		$	1,104
Accumulated amortization		(294	)		(967	)
Net carrying amount	$	114		$	137

Estimated annual amortization of acquired below-market leases, net of acquired above-market leases

The effect of amortization of acquired below-market leases and acquired above-market leases on rental income was approximately $(7,000) and $(6,000) for the three months ended October 31, 2012 and 2011, respectively, and $(14,000) and $(32,000) for the six months ended October 31, 2012 and 2011. The estimated annual amortization of acquired below-market leases, net of acquired above-market leases for each of the five succeeding fiscal years is as follows:

Year Ended April 30,	(in thousands)
2014	$	35
2015		18
2016		14
2017		6
2018		(5	)

Estimated annual amortization of all other identified intangible assets

Amortization of all other identified intangible assets (a component of depreciation and amortization expense) was $1.6 million and $1.5 million for the three months ended October 31, 2012 and 2011, respectively, and $3.1 million and $3.2 million for the six months ended October 31, 2012 and 2011.The estimated annual amortization of all other identified intangible assets for each of the five succeeding fiscal years is as follows:

Year Ended April 30,	(in thousands)
2014	$	4,182
2015		3,825
2016		3,608
2017		3,139
2018		2,652