CONSOLIDATED BALANCE SHEETS - USD ($) $ in Thousands	Apr. 30, 2018	Apr. 30, 2017
Real estate investments
Property owned	$ 1,669,764	$ 1,358,529
Less accumulated depreciation	(311,324)	(255,599)
Total property owned	1,358,440	1,102,930
Unimproved land	11,476	18,455
Mortgage loans receivable	10,329	0
Total real estate investments	1,380,245	1,121,385
Assets held for sale and assets of discontinued operations	0	283,023
Cash and cash equivalents	11,891	28,819
Restricted cash	4,225	27,981
Other assets	30,297	13,306
TOTAL ASSETS	1,426,658	1,474,514
LIABILITIES
Liabilities held for sale and liabilities of discontinued operations	0	130,904
Accounts payable and accrued expenses	29,018	35,566
Revolving line of credit	124,000	57,050
Term loan, net of unamortized loan costs of $486 and $0, respectively	69,514	0
Mortgages payable, net of unamortized loan costs of $2,221 and $3,054, respectively	509,919	565,978
Construction debt	0	41,741
TOTAL LIABILITIES	732,451	831,239
COMMITMENTS AND CONTINGENCIES (NOTE 13)
REDEEMABLE NONCONTROLLING INTERESTS – CONSOLIDATED REAL ESTATE ENTITIES	6,708	7,181
Investors Real Estate Trust shareholders’ equity
Common Shares of Beneficial Interest (Unlimited authorization, no par value, 119,525,975 shares issued and outstanding at April 30, 2018 and 121,199,299 shares issued and outstanding at April 30, 2017)	907,843	916,121
Accumulated distributions in excess of net income	(395,669)	(466,541)
Accumulated other comprehensive income	1,779	0
Total Investors Real Estate Trust shareholders’ equity	613,409	560,937
Noncontrolling interests – Operating Partnership (14,099,434 units at April 30, 2018 and 15,617,216 units at April 30, 2017)	73,012	73,233
Noncontrolling interests – consolidated real estate entities	1,078	1,924
Total equity	687,499	636,094
TOTAL LIABILITIES, REDEEMABLE NONCONTROLLING INTERESTS AND EQUITY	1,426,658	1,474,514
Series B Preferred Stock [Member]
Investors Real Estate Trust shareholders’ equity
Preferred Shares of Beneficial Interest (Cumulative redeemable preferred shares)	0	111,357
Series C Preferred Stock [Member]
Investors Real Estate Trust shareholders’ equity
Preferred Shares of Beneficial Interest (Cumulative redeemable preferred shares)	$ 99,456	$ 0