FAIR VALUE MEASUREMENTS (Tables)

12 Months Ended

Apr. 30, 2015

FAIR VALUE MEASUREMENTS [Abstract]

Fair Value Measurements on a Nonrecurring Basis

	(in thousands)
	Total			Level 1			Level 2			Level 3
April 30, 2015
Real estate held for sale		$	7,100		$	0		$	0		$	7,100
April 30, 2014
Real estate investments		$	89,537		$	0		$	0		$	89,537
Real estate held for sale			2,951			0			0			2,951

Estimated Fair Values of Financial Instruments

The estimated fair values of the Company’s financial instruments as of April 30, 2015 and 2014 are as follows:

	(in thousands)
	2015				2014
	Carrying Amount		Fair Value		Carrying Amount		Fair Value
FINANCIAL ASSETS
Cash and cash equivalents	$	48,970	$	48,970	$	47,267	$	47,267
Other investments		329		329		329		329
FINANCIAL LIABILITIES
Other debt		144,090		143,749		63,132		63,250
Lines of credit		60,500		60,500		22,500		22,500
Mortgages payable		974,828		1,124,422		997,689		1,130,262