CONDENSED CONSOLIDATED BALANCE SHEETS (unaudited) - USD ($) $ in Thousands	Oct. 31, 2018	Apr. 30, 2018
Real estate investments
Property owned	$ 1,638,072	$ 1,669,764
Less accumulated depreciation	(345,015)	(311,324)
Total property owned	1,293,057	1,358,440
Unimproved land	6,522	11,476
Mortgage loans receivable	10,530	10,329
Total real estate investments	1,310,109	1,380,245
Cash and cash equivalents	12,777	11,891
Restricted cash	5,085	4,225
Other assets	29,769	30,297
TOTAL ASSETS	1,357,740	1,426,658
LIABILITIES
Accounts payable and accrued expenses	27,920	29,018
Revolving line of credit	69,500	124,000
Term loans, net of unamortized loan costs of $1,044 and $486, respectively	143,956	69,514
Mortgages payable, net of unamortized loan costs of $1,865 and $2,221, respectively	447,549	509,919
TOTAL LIABILITIES	688,925	732,451
COMMITMENTS AND CONTINGENCIES (NOTE 6)
REDEEMABLE NONCONTROLLING INTERESTS – CONSOLIDATED REAL ESTATE ENTITIES	6,078	6,644
EQUITY
Series C Preferred Shares of Beneficial Interest (Cumulative redeemable preferred shares, no par value, $25 per share liquidation preference, 4,118 shares issued and outstanding at October 31, 2018 and April 30, 2018, aggregate liquidation preference of $102,971)	99,456	99,456
Common Shares of Beneficial Interest (Unlimited authorization, no par value, 119,727 shares issued and outstanding at October 31, 2018 and 119,526 shares issued and outstanding at April 30, 2018)	900,526	900,097
Accumulated distributions in excess of net income	(416,819)	(395,669)
Accumulated other comprehensive income	3,321	1,779
Total shareholders’ equity	586,484	605,663
Noncontrolling interests – Operating Partnership (13,678 units at October 31, 2018 and 14,099 units at April 30, 2018)	69,334	73,012
Noncontrolling interests – consolidated real estate entities	6,919	8,888
Total equity	662,737	687,563
TOTAL LIABILITIES, REDEEMABLE NONCONTROLLING INTERESTS, AND EQUITY	$ 1,357,740	$ 1,426,658