FAIR VALUE MEASUREMENTS (Tables)

3 Months Ended

Jul. 31, 2016

FAIR VALUE MEASUREMENTS [Abstract]

Fair Value Measurements on a Nonrecurring Basis

The aggregate fair value of these assets by their levels in the fair value hierarchy is as follows:

	(in thousands)
	Total		Level 1		Level 2		Level 3
July 31, 2016
Real estate investments	$	35,281	$	—	$	—	$	35,281
April 30, 2016
Real estate held for sale	$	6,650	$	—	$	—	$	6,650

Estimated Fair Values of Financial Instruments

The estimated fair values of our financial instruments as of July 31, 2016 and April 30, 2016, are as follows:

	(in thousands)
	July 31, 2016				April 30, 2016
	Carrying Amount		Fair Value		Carrying Amount		Fair Value
FINANCIAL ASSETS
Cash and cash equivalents	$	54,438	$	54,438	$	66,698	$	66,698
FINANCIAL LIABILITIES
Other debt		78,383		78,383		82,026		82,026
Lines of credit		17,500		17,500		17,500		17,500
Mortgages payable		816,626		884,809		817,324		866,649
Mortgages payable related to assets held for sale		67,794		79,632		68,824		78,690