SUBSEQUENT EVENTS

3 Months Ended

Jul. 31, 2016

SUBSEQUENT EVENTS [Abstract]

SUBSEQUENT EVENTS

NOTE 13 • SUBSEQUENT EVENTS

Common and Preferred Share Distributions. On September1, 2016, our Board of Trustees declared the following distributions:

	Quarterly Amount
Class of shares/units	per Share or Unit		Record Date	Payment Date
Common shares and limited partnership units	$	0.1300	September 15, 2016	October 3, 2016
Preferred shares:
Series A	$	0.5156	September 15, 2016	September 30, 2016
Series B	$	0.4968	September 15, 2016	September 30, 2016

Acquisition of Joint Venture Minority Interest.  On August 4, 2016, we purchased the remaining 41.41% minority interest in the Red 20 mixed-use, multifamily and retail property for a purchase price totaling $4.9 million.

Pending Acquisitions. On August 5, 2016 we signed an agreement to prepurchase a to-be-built multifamily property with 150 units and 23,600 square feet of retail space in Minneapolis, MN, for a purchase price of $47.6 million, to be paid in cash. This pending acquisition is subject to various closing conditions and contingencies, and no assurances can be given that the transaction will be completed on the terms currently proposed, or at all.

Pending Dispositions. On August 26, 2016 we signed six agreements to sell 26 senior housing properties for a total of approximately $236.0 million. These pending dispositions are subject to various closing conditions and contingencies, and no assurances can be given that the transactions will be completed on the terms currently proposed, or at all.