CONDENSED CONSOLIDATED BALANCE SHEETS (Unaudited) - USD ($)
$ in Thousands |
Jan. 31, 2016 |
Apr. 30, 2015 |
| Real estate investments |
|
|
| Property owned |
$ 1,801,019
|
$ 1,546,367
|
| Less accumulated depreciation |
(346,895)
|
(313,308)
|
| Total property owned |
1,454,124
|
1,233,059
|
| Development in progress |
78,341
|
153,994
|
| Unimproved land |
22,304
|
25,827
|
| Total real estate investments |
1,554,769
|
1,412,880
|
| Assets held for sale |
22,064
|
463,103
|
| Cash and cash equivalents |
47,117
|
48,970
|
| Other investments |
50
|
329
|
| Receivable arising from straight-lining of rents, net of allowance of $766 and $718, respectively |
16,778
|
15,617
|
| Accounts receivable, net of allowance of $163 and $438, respectively |
5,118
|
2,865
|
| Real estate deposits |
1,250
|
2,489
|
| Prepaid and other assets |
3,943
|
3,174
|
| Intangible assets, net of accumulated amortization of $21,214 and $19,610, respectively |
23,913
|
26,213
|
| Tax, insurance, and other escrow |
7,834
|
10,073
|
| Property and equipment, net of accumulated depreciation of $1,116 and $1,464, respectively |
1,442
|
1,542
|
| Goodwill |
1,715
|
1,718
|
| Deferred charges and leasing costs, net of accumulated amortization of $9,078 and $8,077, respectively |
9,816
|
8,864
|
| TOTAL ASSETS |
1,695,809
|
1,997,837
|
| LIABILITIES |
|
|
| Liabilities held for sale |
11,449
|
321,393
|
| Accounts payable and accrued expenses |
48,778
|
56,399
|
| Revolving line of credit |
17,500
|
60,500
|
| Mortgages payable |
761,645
|
668,112
|
| Construction debt and other |
140,264
|
144,111
|
| TOTAL LIABILITIES |
$ 979,636
|
$ 1,250,515
|
| COMMITMENTS AND CONTINGENCIES (NOTE 6) |
|
|
| REDEEMABLE NONCONTROLLING INTERESTS - CONSOLIDATED REAL ESTATE ENTITIES |
$ 7,244
|
$ 6,368
|
| Investors Real Estate Trust shareholders' equity |
|
|
| Common Shares of Beneficial Interest (Unlimited authorization, no par value, 121,033,647 shares issued and outstanding at January 31, 2016, and 124,455,624 shares issued and outstanding at April 30, 2015) |
924,658
|
951,868
|
| Accumulated distributions in excess of net income |
(434,388)
|
(438,432)
|
| Total Investors Real Estate Trust shareholders' equity |
628,944
|
652,110
|
| Noncontrolling interests - Operating Partnership (13,863,575 units at January 31, 2016 and 13,999,725 units at April 30, 2015) |
58,254
|
58,325
|
| Noncontrolling interests - consolidated real estate entities |
21,731
|
30,519
|
| Total equity |
708,929
|
740,954
|
| TOTAL LIABILITIES, REDEEMABLE NONCONTROLLING INTERESTS AND EQUITY |
1,695,809
|
1,997,837
|
| Preferred Series A [Member] |
|
|
| Investors Real Estate Trust shareholders' equity |
|
|
| Preferred Shares of Beneficial Interest (Cumulative redeemable preferred shares) |
27,317
|
27,317
|
| Preferred Series B [Member] |
|
|
| Investors Real Estate Trust shareholders' equity |
|
|
| Preferred Shares of Beneficial Interest (Cumulative redeemable preferred shares) |
$ 111,357
|
$ 111,357
|