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ACQUISITIONS, DEVELOPMENTS PLACED IN SERVICE AND DISPOSITIONS, Property Acquisitions (Details)
9 Months Ended
Jan. 31, 2016
USD ($)
ft²
Unit
Jan. 31, 2015
USD ($)
Unit
Business Acquisition [Line Items]    
Transaction costs expensed during the period $ 162,000 $ 104,000
Acquisitions and development projects placed in service [Abstract]    
Investment Allocation, Land 6,819,000 [1] 9,941,000
Investment Allocation, Building 129,979,000 [1] 103,627,000
Goodwill, acquired during period 0 852,000
Results of operations from acquired properties [Abstract]    
Total revenue 1,969,000 1,756,000
Net income (loss) (62,000) (27,000)
Multifamily [Member]    
Acquisitions and development projects placed in service [Abstract]    
Investment Allocation, Land 3,320,000 [1] 8,949,000
Investment Allocation, Building 73,772,000 [1] 101,434,000
Healthcare [Member]    
Acquisitions and development projects placed in service [Abstract]    
Investment Allocation, Land [1],[2],[3] 2,610,000  
Investment Allocation, Building [1],[2],[3] 54,473,000  
Acquisitions [Member]    
Acquisitions and development projects placed in service [Abstract]    
Total Acquisition Cost 71,750,000 41,297,000
Form of Consideration, Cash 71,350,000 24,306,000
Form of Consideration, Units [4] 400,000 100,000
Form of Consideration, Other [5]   16,891,000
Investment Allocation, Land 6,424,000 [1],[2],[3],[6],[7],[8] 16,271,000 [9],[10],[11],[12],[13],[14]
Investment Allocation, Building 64,144,000 [1],[2],[3],[6],[7],[8] 24,661,000 [9],[10],[11],[12],[13],[14]
Investment Allocation, Intangible Assets 1,182,000 365,000
Acquisitions [Member] | 71 France Phases I, II & III [Member]    
Acquisitions and development projects placed in service [Abstract]    
JV partner contributions   4,700,000
Acquisitions [Member] | Multifamily [Member]    
Acquisitions and development projects placed in service [Abstract]    
Total Acquisition Cost 65,250,000 26,780,000
Form of Consideration, Cash 64,850,000 14,511,000
Form of Consideration, Units [4] 400,000 100,000
Form of Consideration, Other [5]   12,169,000
Investment Allocation, Land 5,521,000 1,754,000
Investment Allocation, Building 59,035,000 24,661,000
Investment Allocation, Intangible Assets $ 694,000 $ 365,000
Acquisitions [Member] | Multifamily [Member] | 74 unit - Gardens - Grand Forks, ND [Member]    
Acquisitions and development projects placed in service [Abstract]    
Date Acquired Sep. 10, 2015  
Total Acquisition Cost $ 9,250,000  
Form of Consideration, Cash 8,850,000  
Form of Consideration, Units [4] 400,000  
Investment Allocation, Land 518,000  
Investment Allocation, Building 8,672,000  
Investment Allocation, Intangible Assets $ 60,000  
Number of units | Unit 74  
Acquisitions [Member] | Multifamily [Member] | 276 unit - GrandeVille at Cascade Lake - Rochester, MN [Member]    
Acquisitions and development projects placed in service [Abstract]    
Date Acquired Oct. 29, 2015  
Total Acquisition Cost $ 56,000,000  
Form of Consideration, Cash 56,000,000  
Form of Consideration, Units [4] 0  
Investment Allocation, Land 5,003,000  
Investment Allocation, Building 50,363,000  
Investment Allocation, Intangible Assets $ 634,000  
Number of units | Unit 276  
Acquisitions [Member] | Multifamily [Member] | 152 unit - Homestead Garden - Rapid City, SD [Member]    
Acquisitions and development projects placed in service [Abstract]    
Date Acquired [15]   Jun. 02, 2014
Total Acquisition Cost [15]   $ 15,000,000
Form of Consideration, Cash [15]   5,092,000
Form of Consideration, Units [4],[15]   0
Form of Consideration, Other [5],[15]   9,908,000
Investment Allocation, Land [15]   655,000
Investment Allocation, Building [15]   14,139,000
Investment Allocation, Intangible Assets [15]   $ 206,000
Number of units | Unit [15]   152
Goodwill, acquired during period   $ 852,000
Assumed debt   $ 9,900,000
Acquisitions [Member] | Multifamily [Member] | 52 unit - Silver Springs - Rapid City, SD [Member]    
Acquisitions and development projects placed in service [Abstract]    
Date Acquired   Jun. 02, 2014
Total Acquisition Cost   $ 3,280,000
Form of Consideration, Cash   1,019,000
Form of Consideration, Units [4]   0
Form of Consideration, Other [5]   2,261,000
Investment Allocation, Land   215,000
Investment Allocation, Building   3,006,000
Investment Allocation, Intangible Assets   $ 59,000
Number of units | Unit   52
Assumed debt   $ 2,300,000
Acquisitions [Member] | Multifamily [Member] | 68 unit - Northridge - Bismarck, ND [Member]    
Acquisitions and development projects placed in service [Abstract]    
Date Acquired   Sep. 12, 2014
Total Acquisition Cost   $ 8,500,000
Form of Consideration, Cash   8,400,000
Form of Consideration, Units [4]   100,000
Form of Consideration, Other [5]   0
Investment Allocation, Land   884,000
Investment Allocation, Building   7,516,000
Investment Allocation, Intangible Assets   $ 100,000
Number of units | Unit   68
Acquisitions [Member] | Healthcare [Member] | 27,819 sq ft Lakeside Medical Plaza - Omaha, NE [Member]    
Acquisitions and development projects placed in service [Abstract]    
Date Acquired Aug. 20, 2015  
Total Acquisition Cost $ 6,500,000  
Form of Consideration, Cash 6,500,000  
Form of Consideration, Units [4] 0  
Investment Allocation, Land 903,000  
Investment Allocation, Building 5,109,000  
Investment Allocation, Intangible Assets $ 488,000  
Area of real estate property | ft² 27,819  
Acquisitions [Member] | Unimproved Land [Member]    
Acquisitions and development projects placed in service [Abstract]    
Total Acquisition Cost   $ 14,517,000
Form of Consideration, Cash   9,795,000
Form of Consideration, Units [4]   0
Form of Consideration, Other [5]   4,722,000
Investment Allocation, Land   14,517,000
Investment Allocation, Building   0
Investment Allocation, Intangible Assets   $ 0
Acquisitions [Member] | Unimproved Land [Member] | Creekside Crossing - Bismarck, ND [Member]    
Acquisitions and development projects placed in service [Abstract]    
Date Acquired   May 22, 2014
Total Acquisition Cost   $ 4,269,000
Form of Consideration, Cash   4,269,000
Form of Consideration, Units [4]   0
Form of Consideration, Other [5]   0
Investment Allocation, Land   4,269,000
Investment Allocation, Building   0
Investment Allocation, Intangible Assets   $ 0
Acquisitions [Member] | Unimproved Land [Member] | PrairieCare Medical - Brooklyn Park, MN [Member]    
Acquisitions and development projects placed in service [Abstract]    
Date Acquired   Jun. 05, 2014
Total Acquisition Cost   $ 2,616,000
Form of Consideration, Cash   2,616,000
Form of Consideration, Units [4]   0
Form of Consideration, Other [5]   0
Investment Allocation, Land   2,616,000
Investment Allocation, Building   0
Investment Allocation, Intangible Assets   $ 0
Acquisitions [Member] | Unimproved Land [Member] | 71 France Phase I - Edina, MN [Member]    
Acquisitions and development projects placed in service [Abstract]    
Date Acquired [16]   Jun. 12, 2014
Total Acquisition Cost [16]   $ 1,413,000
Form of Consideration, Cash [16]   0
Form of Consideration, Units [4],[16]   0
Form of Consideration, Other [5],[16]   1,413,000
Investment Allocation, Land [16]   1,413,000
Investment Allocation, Building [16]   0
Investment Allocation, Intangible Assets [16]   $ 0
Interest held percentage   52.60%
Acquisitions [Member] | Unimproved Land [Member] | Monticello 7th Addition - Monticello, MN [Member]    
Acquisitions and development projects placed in service [Abstract]    
Date Acquired   Oct. 09, 2014
Total Acquisition Cost   $ 1,660,000
Form of Consideration, Cash   1,660,000
Form of Consideration, Units [4]   0
Form of Consideration, Other [5]   0
Investment Allocation, Land   1,660,000
Investment Allocation, Building   0
Investment Allocation, Intangible Assets   $ 0
Acquisitions [Member] | Unimproved Land [Member] | 71 France Phase II & III - Edina, MN [Member]    
Acquisitions and development projects placed in service [Abstract]    
Date Acquired [16]   Nov. 04, 2014
Total Acquisition Cost [16]   $ 3,309,000
Form of Consideration, Cash [16]   0
Form of Consideration, Units [4],[16]   0
Form of Consideration, Other [5],[16]   3,309,000
Investment Allocation, Land [16]   3,309,000
Investment Allocation, Building [16]   0
Investment Allocation, Intangible Assets [16]   $ 0
Acquisitions [Member] | Unimproved Land [Member] | Minot 1525 24th Ave SW - Minot, ND [Member]    
Acquisitions and development projects placed in service [Abstract]    
Date Acquired   Dec. 23, 2014
Total Acquisition Cost   $ 1,250,000
Form of Consideration, Cash   1,250,000
Form of Consideration, Units [4]   0
Form of Consideration, Other [5]   0
Investment Allocation, Land   1,250,000
Investment Allocation, Building   0
Investment Allocation, Intangible Assets   $ 0
[1] Development projects that are placed in service in phases are excluded from this table until the entire project has been placed in service. See Note 6 for additional information on the Deer Ridge, 71 France, and Cardinal Point projects, which were partially placed in service during the nine months ended January 31, 2016.
[2] Costs paid in prior fiscal years totaled $17.3 million. Additional costs incurred in fiscal year 2016 totaled $7.1 million, for a total project cost at January 31, 2016 of $24.4 million.
[3] Costs paid in prior fiscal years totaled $20.8 million. Additional costs incurred in fiscal year 2016 totaled $11.9 million, for a total project cost at January 31, 2016 of $32.7 million.
[4] Value of Units of the Operating Partnership at the acquisition date.
[5] Consists of assumed debt (Homestead Garden I: $9.9 million, Silver Springs: $2.3 million) and value of land contributed by the joint venture partner (71 France: $4.7 million).
[6] Costs paid in prior fiscal years totaled $12.3 million. Additional costs incurred in fiscal year 2016 totaled $2.3 million, for a total project cost at January 31, 2016 of $14.6 million.
[7] Costs paid in prior fiscal years totaled $2.1 million. Additional costs incurred in fiscal year 2016 totaled approximately $500,000, for a total project cost at January 31, 2016 of $2.6 million.
[8] Costs paid in prior fiscal years totaled $57.7 million. Additional costs incurred in fiscal year 2016 totaled $4.8 million, for a total project cost at January 31, 2016 of $62.5 million. The project is owned by a joint venture entity in which we currently have an approximately 70.0% interest. The joint venture is consolidated in our financial statements.
[9] Costs paid in prior fiscal years totaled $1.0 million. Additional cost paid in fiscal year 2015 totaled $2.2 million, for a total project cost at January 31, 2015 of $3.2 million.
[10] Costs paid in prior fiscal years totaled $1.2 million. Additional costs paid in fiscal year 2015 totaled $5.5 million, for a total project cost at January 31, 2015 of $6.6 million. The project is owned by a joint venture entity in which we currently have an approximately 86.1% interest. The joint venture is consolidated in our financial statements.
[11] Costs paid in prior fiscal years totaled $11.3 million. Additional costs paid in fiscal year 2015 totaled $19.1 million, for a total project cost at January 31, 2015 of $30.4 million.
[12] Costs paid in prior fiscal years totaled $12.2 million. Additional costs paid in fiscal year 2015 totaled $16.1 million, for a total project cost at January 31, 2015 of $28.3 million. The project is owned by a joint venture entity in which we currently have an approximately 58.6% interest. The joint venture is consolidated in our financial statements.
[13] Costs paid in prior fiscal years totaled $26.5 million. Additional costs paid in fiscal year 2015 totaled $8.1 million, for a total project cost at January 31, 2015 of $34.6 million. The project is owned by a joint venture entity in which we have an approximately 52.9% interest. The joint venture is consolidated in our financial statements.
[14] Costs paid in prior fiscal years totaled $8.1 million. Additional costs paid in fiscal year 2015 totaled $2.3 million, for a total project cost at January 31, 2015 of $10.4 million.
[15] At acquisition, we adjusted the assumed debt to fair value and recognized approximately $852,000 of goodwill.
[16] Land was contributed to a joint venture in which we currently have an approximately 52.6% interest. The joint venture is consolidated in our financial statements.