BASIS OF PRESENTATION AND SIGNIFICANT ACCOUNTING POLICIES (Tables)

3 Months Ended

Jul. 31, 2013

BASIS OF PRESENTATION AND SIGNIFICANT ACCOUNTING POLICIES [Abstract]

Identified intangible assets and intangible liabilities

The Company's identified intangible assets and intangible liabilities at July 31, 2013 and April 30, 2013 were as follows:

	(in thousands)
	July 31, 2013		April 30, 2013
Identified intangible assets (included in intangible assets):
Gross carrying amount	$	61,008	$	68,165
Accumulated amortization		(24,019)		(27,708)
Net carrying amount	$	36,989	$	40,457
Identified intangible liabilities (included in other liabilities):
Gross carrying amount	$	327	$	391
Accumulated amortization		(249)		(296)
Net carrying amount	$	78	$	95

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 $(10,000) and $(10,000) for the three months ended July 31, 2013 and 2012, respectively. 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)
2015	$	21
2016		17
2017		9
2018		(5)
2019		(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 $3.6 million and $1.5 million for the three months ended July 31, 2013 and 2012, respectively. 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)
2015	$	4,830
2016		4,612
2017		4,143
2018		3,701
2019		3,549