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BASIS OF PRESENTATION AND SIGNIFICANT ACCOUNTING POLICIES (Tables)
 9 Months Ended
Jan. 31, 2014
BASIS OF PRESENTATION AND SIGNIFICANT ACCOUNTING POLICIES [Abstract]  
Identified intangible assets and intangible liabilities
The Company's identified intangible assets and intangible liabilities at January 31, 2014 and April 30, 2013 were as follows:
 
(in thousands)
 
January 31, 2014
April 30, 2013
Identified intangible assets (included in intangible assets):
 
 
 
 
Gross carrying amount
$
56,711
$
68,165
Accumulated amortization
 
(22,703)
 
(27,708)
Net carrying amount
$
34,008
$
40,457
 
 
 
 
 
Identified intangible liabilities (included in other liabilities):
 
 
 
 
Gross carrying amount
$
173
$
391
Accumulated amortization
 
(123)
 
(296)
Net carrying amount
$
50
$
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 $(11,000) and $(8,000) for the three months ended January 31, 2014 and 2013, respectively, and approximately $(32,000) and $(28,000) for the nine months ended January 31, 2014 and 2013, 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
$
22
2016
 
19
2017
 
11
2018
 
(2)
2019
 
(3)
Estimated annual amortization of all other identified intangible assets
Amortization of all other identified intangible assets (a component of depreciation and amortization expense) was $1.5 million and $1.2 million for the three months ended January 31, 2014 and 2013, respectively, and $6.9 million and $4.1 million for the nine months ended January 31, 2014 and 2013, 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
$
4,959
2016
 
4,567
2017
 
4,099
2018
 
3,667
2019
 
3,543