SUBSEQUENT EVENTS

6 Months Ended

Oct. 31, 2017

SUBSEQUENT EVENTS [Abstract]

SUBSEQUENT EVENTS

NOTE 14 • SUBSEQUENT EVENTS

Completed Acquisition.  On November 28, 2017, we purchased a 274-unit multifamily property in Denver, CO for $90.6  million.

Completed Dispositions.  On November 22, 2017, we sold an industrial property in Urbandale, IA for $16.7 million. On November 28, 2017, we sold an industrial property in Roseville, MN for $18.7 million. On December 1, 2017, we sold two multifamily properties with a total of 64 units in Rochester, MN for $6.7 million.

Pending Disposition. On November 30, 2017, we entered into a purchase and sales agreement to sell 28 medical office buildings and one office property for a total purchase price of $417.5 million. This sale is currently pending and is expected to close in the third quarter of our fiscal year. It was not classified as held for sale at October 31, 2017.

Financing Activity. On November 28, 2017, we amended our BMO Line of Credit to provide for a new term loan of up to $70 million and to permit us to execute one or more hedge instruments to hedge the risk of an increase in interest rates.