FAIR VALUE MEASUREMENTS (Tables)

12 Months Ended

Dec. 31, 2019

Fair Value Disclosures [Abstract]

Schedule of Fair Value Measurements on a Nonrecurring Basis

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

	(in thousands)
	Total		Level 1	Level 2	Level 3
December 31, 2018
Real estate investments valued at fair value	$	3,049	—	—	$	3,049
April 30, 2018
Real estate investments valued at fair value	$	52,145	—	—	$	52,145

Schedule of Estimated Fair Values of Financial Instruments

The estimated fair values of our financial instruments as of December 31, 2019, December 31, 2018, and April 30, 2018 are as follows:

	(in thousands)
	12/31/2019				12/31/2018				4/30/2018
	Amount		Fair Value		Amount		Fair Value		Amount		Fair Value
FINANCIAL ASSETS
Cash and cash equivalents	$	26,579	$	26,579	$	13,792	$	13,792	$	11,891	$	11,891
Restricted cash	19,538		19,538		5,464		5,464		4,225		4,225
Mortgage and note receivables	32,810		32,810		26,809		26,809		25,809		25,809
FINANCIAL LIABILITIES
Revolving lines of credit(1)	50,079		50,079		57,500		57,500		124,000		124,000
Notes payable(1)	270,000		270,000		145,000		145,000		70,000		70,000
Mortgages payable	331,376		332,471		445,974		444,241		509,919		510,803

(1)

Excluding the effect of the interest rate swap agreement.