NONCONTROLLING INTERESTS

12 Months Ended

Apr. 30, 2017

NONCONTROLLING INTERESTS [Abstract]

NONCONTROLLING INTERESTS

NOTE 6 • NONCONTROLLING INTERESTS

Interests in the Operating Partnership held by limited partners are represented by Units. The Operating Partnership’s income is allocated to holders of Units based upon the ratio of their holdings to the total Units outstanding during the period. Capital contributions, distributions and profits and losses are allocated to noncontrolling interests in accordance with the terms of the Operating Partnership’s Agreement of Limited Partnership.

We reflect noncontrolling interests in consolidated real estate entities on the Balance Sheet for the portion of properties consolidated by us that are not wholly owned by us. The earnings or losses from these properties attributable to the noncontrolling interests are reflected as net income attributable to noncontrolling interests –‑consolidated real estate entities in the Consolidated Statements of Operations. Our noncontrolling interests – consolidated real estate entities at April 30, 2017 and 2016 were as follows:

	(in thousands)
	April 30, 2017		April 30, 2016
IRET-71 France, LLC	$	7,425	$	8,070
IRET-Cypress Court Apartments, LLC		986		1,042
IRET-RED 20, LLC		—		2,410
IRET-Williston Garden Apartments, LLC		1,057		3,014
IRET - WRH 1, LLC		(7,904)		5,266
WRH Holding, LLC		360		1,195
Other		—		23
Noncontrolling interests – consolidated real estate entities	$	1,924	$	21,020