ACQUISITIONS, DEVELOPMENT PROJECTS PLACED IN SERVICE AND DISPOSITIONS (Tables)

3 Months Ended

Jul. 31, 2017

ACQUISITIONS, DEVELOPMENT PROJECTS PLACED IN SERVICE AND DISPOSITIONS [Abstract]

Acquisitions

Our acquisitions during the three months ended July 31, 2017 are detailed below.

Three Months Ended July 31, 2017

		(in thousands)
		Total		Form of  Consideration		Investment Allocation
	Date	Acquisition								Intangible
Acquisitions	Acquired	Cost		Cash		Land		Building		Assets
Multifamily
191 unit - Oxbo - St. Paul, MN(1)	May 26, 2017	$	61,500	$	61,500	$	5,809	$	54,910	$	781
Total Property Acquisitions		$	61,500	$	61,500	$	5,809	$	54,910	$	781

(1) Property includes 11,477 sq ft of retail space.

Development Projects Placed in Service

The Operating Partnership placed $0 and $72.2 million of development projects in service during the three months ended July 31, 2017 and 2016, respectively, as detailed below.

Three Months Ended July 31, 2016

		(in thousands)
	Date Placed					Development
Development Projects Placed in Service	in Service	Land		Building		Cost
Multifamily
241 unit - 71 France - Edina, MN(1)	2016-05-01	$	4,721	$	67,509	$	72,230
Total Development Projects Placed in Service		$	4,721	$	67,509	$	72,230

(1) Costs paid in fiscal years 2015 and 2016 totaled $70.9 million. Additional costs incurred in fiscal year 2017 totaled $1.3 million, for a total project cost at July 31, 2016 of $72.2 million. The project is owned by a joint venture entity in which we currently have an approximately 52.6% interest. The joint venture is consolidated in our financial statements. 

Schedule of Dispositions

The following table details our dispositions during the three months ended July 31, 2017 and 2016:

Three Months Ended July 31, 2017

		(in thousands)
	Date			Book Value
Dispositions	Disposed	Sales Price		and Sales Cost		Gain/(Loss)
Other
4,998 sq ft Minot Southgate Wells Fargo Bank - Minot, ND	2017-05-15	$	3,440	$	3,332	$	108
Total Property Dispositions		$	3,440	$	3,332	$	108

Three Months Ended July 31, 2016 

			(in thousands)
	Date			Book Value
Dispositions	Disposed	Sales Price		and Sales Cost		Gain/(Loss)
Other
195,075 sq ft Stone Container - Fargo, ND	2016-07-25	$	13,400	$	4,418	$	8,982
Unimproved Land
Georgetown Square Unimproved Land - Grand Chute, WI	2016-05-06		250		274		(24)
Total Property Dispositions		$	13,650	$	4,692	$	8,958