SUBSEQUENT EVENTS

6 Months Ended

Oct. 31, 2014

SUBSEQUENT EVENTS [Abstract]

SUBSEQUENT EVENTS

NOTE 12 • SUBSEQUENT EVENTS

Common and Preferred Share Distributions. On December4, 2014, the Company's Board of Trustees declared the following distributions:

Class of shares/units	Quarterly Amount per Share or Unit	Record Date	Payment Date
Common shares and limited partnership units	$0.1300	January 2, 2015	January 16, 2015
Preferred shares:
Series A	$0.5156	December 15, 2014	December 31, 2014
Series B	$0.4968	December 15, 2014	December 31, 2014

Completed Dispositions. On November 18, 2014, the Company sold the Fargo Express Community, a retail property in Fargo, North Dakota, for a sale price of $2.8 million. On December 1, 2014, the Company sold Northgate I, an office property in Maple Grove, Minnesota, for a sale price of $7.2 million.