XML 38 R57.htm IDEA: XBRL DOCUMENT v2.4.0.8
DISCONTINUED OPERATIONS (Details) (USD $)
3 Months Ended 12 Months Ended
Apr. 30, 2013
Jan. 31, 2013
Oct. 31, 2012
Jul. 31, 2012
Apr. 30, 2012
Jan. 31, 2012
Oct. 31, 2011
Jul. 31, 2011
Apr. 30, 2013
Apr. 30, 2012
Apr. 30, 2011
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items]                      
Number of properties classified as held for sale 0       8       0 8 0
REVENUE                      
Real estate rentals                 $ 212,969,000 $ 196,149,000 $ 189,245,000
Tenant reimbursement                 46,437,000 42,929,000 44,931,000
TOTAL REVENUE 67,011,000 65,976,000 64,689,000 61,730,000 59,932,000 60,291,000 59,946,000 58,909,000 259,406,000 239,078,000 234,176,000
EXPENSES                      
Depreciation/amortization related to real estate investments                 61,996,000 56,426,000 55,080,000
Utilities                 19,172,000 17,442,000 18,020,000
Maintenance                 29,237,000 26,354,000 28,955,000
Real estate taxes                 34,380,000 31,581,000 30,637,000
Insurance                 3,927,000 3,502,000 2,256,000
Property management expenses                 15,408,000 18,651,000 20,348,000
Other property expenses                 1,008,000 (142,000) 665,000
Other expenses                 2,173,000 1,898,000 1,747,000
Amortization related to non-real estate investments                 3,274,000 3,216,000 2,679,000
Impairment of real estate investments                 305,000 428,000 0
TOTAL EXPENSES                 179,374,000 166,309,000 167,609,000
Operating income                 85,116,000 73,043,000 66,567,000
Interest expense                 (62,900,000) (64,066,000) (62,735,000)
Interest income                 222,000 148,000 259,000
Other income                 526,000 638,000 282,000
Gain on sale of discontinued operations                 6,885,000 349,000 19,365,000
INCOME (LOSS) FROM DISCONTINUED OPERATIONS                 7,008,000 (57,000) 19,978,000
Property Sale Data                      
Gain on sale of discontinued operations                 6,885,000 349,000 19,365,000
Multi-Family Residential [Member]
                     
REVENUE                      
TOTAL REVENUE                 90,759,000 72,500,000 65,229,000
Commercial-Office [Member]
                     
REVENUE                      
TOTAL REVENUE                 77,162,000 74,334,000 77,747,000
Commercial-Healthcare [Member]
                     
REVENUE                      
TOTAL REVENUE                 61,975,000 64,511,000 64,879,000
Commercial-Industrial [Member]
                     
REVENUE                      
TOTAL REVENUE                 14,911,000 14,325,000 13,165,000
Commercial-Retail [Member]
                     
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items]                      
Number of properties classified as held for sale         1         1  
REVENUE                      
TOTAL REVENUE                 14,599,000 13,408,000 13,156,000
Multi Family Residential -Condominium Units [Member]
                     
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items]                      
Number of properties classified as held for sale         8         8  
Discontinued Operations [Member]
                     
REVENUE                      
Real estate rentals                 1,818,000 2,852,000 9,056,000
Tenant reimbursement                 1,000 62,000 112,000
TOTAL REVENUE                 1,819,000 2,914,000 9,168,000
EXPENSES                      
Depreciation/amortization related to real estate investments                 479,000 682,000 1,911,000
Utilities                 67,000 225,000 776,000
Maintenance                 132,000 246,000 993,000
Real estate taxes                 78,000 196,000 853,000
Insurance                 25,000 52,000 158,000
Property management expenses                 115,000 272,000 1,047,000
Other property expenses                 16,000 4,000 72,000
Other expenses                 0 67,000 28,000
Amortization related to non-real estate investments                 0 0 4,000
Impairment of real estate investments                 0 428,000 0
TOTAL EXPENSES                 912,000 2,172,000 5,842,000
Operating income                 907,000 742,000 3,326,000
Interest expense                 (786,000) (1,164,000) (2,718,000)
Interest income                 0 0 5,000
Other income                 2,000 16,000 0
Income (loss) from discontinued operations before gain on sale                 123,000 (406,000) 613,000
Gain on sale of discontinued operations                 6,885,000 349,000 19,365,000
INCOME (LOSS) FROM DISCONTINUED OPERATIONS                 7,008,000 (57,000) 19,978,000
Property Sale Data                      
Sales price                 26,273,000 3,237,000 83,330,000
Net book value and sales costs                 (19,388,000) (2,888,000) (63,965,000)
Gain on sale of discontinued operations                 6,885,000 349,000 19,365,000
Discontinued Operations [Member] | Multi-Family Residential [Member]
                     
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items]                      
Number of properties sold 3               3    
EXPENSES                      
INCOME (LOSS) FROM DISCONTINUED OPERATIONS                 3,653,000 161,000 19,268,000
Discontinued Operations [Member] | Commercial-Office [Member]
                     
EXPENSES                      
INCOME (LOSS) FROM DISCONTINUED OPERATIONS                 0 0 0
Discontinued Operations [Member] | Commercial-Healthcare [Member]
                     
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items]                      
Number of properties sold 1               1    
EXPENSES                      
INCOME (LOSS) FROM DISCONTINUED OPERATIONS                 3,419,000 (465,000) (84,000)
Discontinued Operations [Member] | Commercial-Industrial [Member]
                     
EXPENSES                      
INCOME (LOSS) FROM DISCONTINUED OPERATIONS                 0 0 726,000
Discontinued Operations [Member] | Commercial-Retail [Member]
                     
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items]                      
Number of properties sold 1               1    
EXPENSES                      
INCOME (LOSS) FROM DISCONTINUED OPERATIONS                 $ (64,000) $ 247,000 $ 68,000
Discontinued Operations [Member] | Multi Family Residential -Condominium Units [Member]
                     
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items]                      
Number of properties sold 4               4