DEBT (Tables)

12 Months Ended

Apr. 30, 2018

Schedule of Aggregate Amount of Required Future Principal Payments on Mortgages Payable

The aggregate amount of required future principal payments on mortgages payable as of April 30, 2018 is as follows:



Year Ended April 30,	(in thousands)
2019	$	25,002
2020	114,520
2021	92,182
2022	70,509
2023	27,497
Thereafter	182,430
Total payments	$	512,140

Summary of Indebtedness

The following table summarizes our indebtedness at April 30, 2018:



	(in thousands)
	April 30, 2018			April 30, 2017			Weighted Average Maturity in Years
Unsecured line of credit	$	124,000		$	57,050		3.0
Term loan	70,000			—			4.0
Unsecured debt	194,000			57,050
Mortgages payable - fixed ⁽¹⁾	489,401			629,535			6.3
Mortgages payable - variable⁽¹⁾	22,739			57,708			3.3
Construction debt - variable	—			41,737
Total debt	$	706,140		$	786,030
Weighted average interest rate on unsecured line of credit	3.35		%	2.67		%
Weighted average interest rate on term loan (rate with swap)	3.86		%	—
Weighted average interest rate on mortgages payable⁽¹⁾	4.69		%	4.71		%
Weighted average interest rate on construction debt	—			3.27		%


(1)	Includes mortgages payable related to assets held for sale and assets of discontinued operations at April 30, 2017.

- Definition

Tabular disclosure of long-debt instruments or arrangements, including identification, terms, features, collateral requirements and other information necessary to a fair presentation. These are debt arrangements that originally required repayment more than twelve months after issuance or greater than the normal operating cycle of the entity, if longer.

+ References

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+ Details