IDENTIFIED INTANGIBLE ASSETS AND LIABILITIES (Tables)

12 Months Ended

Apr. 30, 2014

IDENTIFIED INTANGIBLE ASSETS AND LIABILITIES [Abstract]

Schedule Identified Intangible Assets and Intangible Liabilities

The Company's identified intangible assets and intangible liabilities at April 30, 2014 and 2013 were as follows:

	(in thousands)
	April 30, 2014		April 30, 2013
Identified intangible assets (included in intangible assets):
Gross carrying amount	$	56,710	$	68,165
Accumulated amortization		(24,071)		(27,708)
Net carrying amount	$	32,639	$	40,457
Identified intangible liabilities (included in other liabilities):
Gross carrying amount	$	173	$	391
Accumulated amortization		(127)		(296)
Net carrying amount	$	46	$	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 $(42,000), $(38,000) and $(54,000) for the twelve months ended April 30, 2014, 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	$	22
2016		19
2017		11
2018		(2)
2019		(3)

Finite-Lived Intangible Assets [Line Items]

Schedule of Estimated Annual Amortization of Intangibles

Amortization of all other identified intangible assets (a component of depreciation/amortization related to real estate investments) was $8.3 million, $5.3 million and $5.3 million for the twelve months ended April 30, 2014, 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	$	4,959
2016		4,567
2017		4,099
2018		3,667
2019		3,543