FAIR VALUE MEASUREMENTS (Tables)

6 Months Ended

Oct. 31, 2018

Fair Value Disclosures [Abstract]

Fair Value Measurements on a Nonrecurring Basis

The aggregate fair value of these assets by their levels in the fair value hierarchy is as follows:

	(in thousands)
	Total		Level 1	Level 2	Level 3
April 30, 2018
Real estate investments	$	52,145	—	—	$	52,145

Estimated Fair Values of Financial Instruments

The estimated fair values of our financial instruments as of October 31, 2018, and April 30, 2018, respectively, are as follows:

	(in thousands)
	October 31, 2018				April 30, 2018
	Carrying Amount		Fair Value		Carrying Amount		Fair Value
FINANCIAL ASSETS
Cash and cash equivalents	$	12,777	$	12,777	$	11,891	$	11,891
FINANCIAL LIABILITIES
Revolving line of credit	$	69,500	$	69,500	$	124,000	$	124,000
Term loan A(1)	$	70,000	$	70,000	$	70,000	$	70,000
Term loan B(1)	$	75,000	$	75,000	$	—	$	—
Mortgages payable	$	449,414	$	446,360	$	509,919	$	510,803

(1) Excluding the effect of the interest rate swap agreement.