DISCONTINUED OPERATIONS (Tables)

9 Months Ended

Jan. 31, 2018

Discontinued Operations and Disposal Groups [Abstract]

Effect on Net Income and Gains or Losses From Sale Of Properties Classified as Discontinued Operations

The following information shows the effect on net income and the gains or losses from the sales of properties classified as discontinued operations for the three and nine months ended January 31, 2018 and 2017, respectively:

	(in thousands)
	Three Months Ended January 31,						Nine Months Ended January 31,
	2018			2017			2018			2017
REVENUE
Real estate rentals	$	4,495		$	12,211		$	19,744		$	36,061
Tenant reimbursement	2,739			4,058			11,493			12,177
TRS senior housing revenue	—			813			—			2,602
TOTAL REVENUE	$	7,234		$	17,082		$	31,237		$	50,840
EXPENSES
Property operating expenses, excluding real estate taxes	1,860			2,463			6,645			7,514
Real estate taxes	1,284			1,711			5,191			4,916
Depreciation and amortization	1,432			2,688			8,445			8,096
TRS senior housing expenses	—			840			—			2,393
Other expenses	(2		)	—			13			—
TOTAL EXPENSES	$	4,574		$	7,702		$	20,294		$	22,919
Operating income	2,660			9,380			10,943			27,921
Interest expense	(751		)	(3,048		)	(4,172		)	(9,606		)
Loss on extinguishment of debt	(6,502		)	(1,449		)	(6,508		)	(1,521		)
Interest income	—			544			661			1,634
Other income	—			3			60			337
(Loss) income from discontinued operations before gain on sale	(4,593		)	5,430			984			18,765
Gain on sale of discontinued operations	151,404			19,535			163,642			26,038
INCOME FROM DISCONTINUED OPERATIONS	$	146,811		$	24,965		$	164,626		$	44,803

Reconciliation of Assets and Liabilities of Discontinued Operations to Assets and Liabilities Held for Sale That Are Presented Separately on Condensed Consolidated Balance Sheets

The following information reconciles the carrying amounts of major classes of assets and liabilities of the discontinued operations to assets and liabilities held for sale that are presented separately on the Condensed Consolidated Balance Sheets:

	(in thousands)
	April 30, 2017
Carrying amounts of major classes of assets included as part of discontinued operations
Property owned and intangible assets, net of accumulated depreciation and amortization	$	255,466
Other assets	13,478
Total major classes of assets of the discontinued operations	268,944
Other assets included in the disposal group classified as held for sale	14,079
Total assets of the disposal group classified as held for sale on the balance sheet	$	283,023
Carrying amounts of major classes of liabilities included as part of discontinued operations
Accounts payable and accrued expenses	$	4,835
Mortgages payable	112,208
Other	7,977
Total major classes of liabilities of the discontinued operations	125,020
Other liabilities included in the disposal group classified as held for sale	5,884
Total liabilities of the disposal group classified as held for sale on the balance sheet	$	130,904