Centerspace (CSR) 10-K 28 Jun 18 2018 FY Annual report Financial data

Document and Entity Information

Document and Entity Information - USD ($)	12 Months Ended
	Apr. 30, 2018	Jun. 20, 2018	Oct. 31, 2017
Document and Entity Information [Abstract]
Entity Registrant Name	INVESTORS REAL ESTATE TRUST
Entity Central Index Key	798,359
Current Fiscal Year End Date	--04-30
Entity Well-known Seasoned Issuer	Yes
Entity Voluntary Filers	No
Entity Current Reporting Status	Yes
Entity Filer Category	Large Accelerated Filer
Entity Public Float			$ 695,861,225
Entity Common Stock, Shares Outstanding		119,406,963
Document Fiscal Year Focus	2,018
Document Fiscal Period Focus	FY
Document Type	10-K
Amendment Flag	false
Document Period End Date	Apr. 30, 2018

CONSOLIDATED BALANCE SHEETS

CONSOLIDATED BALANCE SHEETS - USD ($) $ in Thousands	Apr. 30, 2018	Apr. 30, 2017
Real estate investments
Property owned	$ 1,669,764	$ 1,358,529
Less accumulated depreciation	(311,324)	(255,599)
Total property owned	1,358,440	1,102,930
Unimproved land	11,476	18,455
Mortgage loans receivable	10,329	0
Total real estate investments	1,380,245	1,121,385
Assets held for sale and assets of discontinued operations	0	283,023
Cash and cash equivalents	11,891	28,819
Restricted cash	4,225	27,981
Other assets	30,297	13,306
TOTAL ASSETS	1,426,658	1,474,514
LIABILITIES
Liabilities held for sale and liabilities of discontinued operations	0	130,904
Accounts payable and accrued expenses	29,018	35,566
Revolving line of credit	124,000	57,050
Term loan, net of unamortized loan costs of $486 and $0, respectively	69,514	0
Mortgages payable, net of unamortized loan costs of $2,221 and $3,054, respectively	509,919	565,978
Construction debt	0	41,741
TOTAL LIABILITIES	732,451	831,239
COMMITMENTS AND CONTINGENCIES (NOTE 13)
REDEEMABLE NONCONTROLLING INTERESTS – CONSOLIDATED REAL ESTATE ENTITIES	6,708	7,181
Investors Real Estate Trust shareholders’ equity
Common Shares of Beneficial Interest (Unlimited authorization, no par value, 119,525,975 shares issued and outstanding at April 30, 2018 and 121,199,299 shares issued and outstanding at April 30, 2017)	907,843	916,121
Accumulated distributions in excess of net income	(395,669)	(466,541)
Accumulated other comprehensive income	1,779	0
Total Investors Real Estate Trust shareholders’ equity	613,409	560,937
Noncontrolling interests – Operating Partnership (14,099,434 units at April 30, 2018 and 15,617,216 units at April 30, 2017)	73,012	73,233
Noncontrolling interests – consolidated real estate entities	1,078	1,924
Total equity	687,499	636,094
TOTAL LIABILITIES, REDEEMABLE NONCONTROLLING INTERESTS AND EQUITY	1,426,658	1,474,514
Series B Preferred Stock [Member]
Investors Real Estate Trust shareholders’ equity
Preferred Shares of Beneficial Interest (Cumulative redeemable preferred shares)	0	111,357
Series C Preferred Stock [Member]
Investors Real Estate Trust shareholders’ equity
Preferred Shares of Beneficial Interest (Cumulative redeemable preferred shares)	$ 99,456	$ 0

CONSOLIDATED BALANCE SHEETS (Pa

CONSOLIDATED BALANCE SHEETS (Parenthetical) - USD ($)	Apr. 30, 2018	Apr. 30, 2017
EQUITY
Common Shares of Beneficial Interest, shares issued (in shares)	119,525,975	121,199,299
Common Shares of Beneficial Interest, shares outstanding (in shares)	119,525,975	121,199,299
Noncontrolling interests - Operating Partnership (in shares)	14,099,434	15,617,216
Series B Preferred Stock [Member]
EQUITY
Preferred Shares of Beneficial Interest, shares issued (in shares)	0	4,600,000
Preferred Shares of Beneficial Interest, shares outstanding (in shares)	0	4,600,000
Preferred shares liquidation preference		$ 115,000,000
Series C Preferred Stock [Member]
EQUITY
Preferred Shares of Beneficial Interest, shares issued (in shares)	4,118,460	0
Preferred Shares of Beneficial Interest, shares outstanding (in shares)	4,118,460	0
Preferred shares liquidation preference	$ 102,971,475
Medium-term Notes [Member]
LIABILITIES
Mortgages payable, loan costs	486,000	$ 0
Mortgages [Member]
LIABILITIES
Mortgages payable, loan costs	$ 2,221,000	$ 3,054,000

CONSOLIDATED STATEMENTS OF OPER

CONSOLIDATED STATEMENTS OF OPERATIONS - USD ($) $ in Thousands	12 Months Ended
	Apr. 30, 2018	Apr. 30, 2017	Apr. 30, 2016
REVENUE	$ 169,745	$ 160,104	$ 145,500
EXPENSES
Property operating expenses, excluding real estate taxes	54,292	47,587	43,741
Real estate taxes	18,742	16,739	14,407
Casualty loss	500	414	238
Depreciation and amortization	82,070	44,253	39,273
Impairment of real estate investments	18,065	57,028	5,543
General and administrative expenses	14,203	15,871	13,498
Acquisition and investment related costs	51	3,276	830
TOTAL EXPENSES	193,449	190,214	121,244
Operating income (loss)	(23,704)	(30,110)	24,256
Interest expense	(34,178)	(34,314)	(28,417)
Loss on extinguishment of debt	(940)	(1,651)	(106)
Interest income	1,197	366	78
Other income	311	780	307
Loss before gain on sale of real estate and other investments, gain on bargain purchase and income from discontinued operations	(57,314)	(64,929)	(3,882)
Gain on sale of real estate and other investments	20,120	18,701	9,640
Gain on bargain purchase	0	0	3,424
Income (loss) from continuing operations	(37,194)	(46,228)	9,182
Income from discontinued operations	164,823	76,753	67,420
NET INCOME	127,629	30,525	76,602
Net income attributable to noncontrolling interests – Operating Partnership	(12,702)	(4,059)	(7,032)
Net loss attributable to noncontrolling interests – consolidated real estate entities	1,861	16,881	2,436
Net income attributable to Investors Real Estate Trust	116,788	43,347	72,006
Dividends to preferred shareholders	(8,569)	(10,546)	(11,514)
Redemption of preferred shares	(3,657)	(1,435)	0
NET INCOME AVAILABLE TO COMMON SHAREHOLDERS	$ 104,562	$ 31,366	$ 60,492
Earnings (loss) per common share from continuing operations – Investors Real Estate Trust – basic and diluted (in dollars per share)	$ (0.36)	$ (0.30)	$ 0
Earnings per common share from discontinued operations – Investors Real Estate Trust – basic and diluted (in dollars per share)	1.23	0.56	0.49
NET INCOME PER COMMON SHARE – BASIC & DILUTED (in dollars per share)	$ 0.87	$ 0.26	$ 0.49
Management Service [Member]
Cost of revenue	$ 5,526	$ 5,046	$ 3,714

CONSOLIDATED STATEMENTS OF COMP

CONSOLIDATED STATEMENTS OF COMPREHENSIVE INCOME - USD ($) $ in Thousands	12 Months Ended
	Apr. 30, 2018	Apr. 30, 2017	Apr. 30, 2016
Statement of Comprehensive Income [Abstract]
Net income	$ 127,629	$ 30,525	$ 76,602
Other comprehensive income:
Unrealized gain from derivative instrument	1,627	0	0
Loss on derivative instrument reclassified into earnings	152	0	0
Total comprehensive income	129,408	30,525	76,602
Comprehensive income attributable to noncontrolling interests – Operating Partnership	(12,888)	(4,059)	(7,032)
Net loss attributable to noncontrolling interests – consolidated real estate entities	1,861	16,881	2,436
Comprehensive income attributable to controlling interests	$ 118,381	$ 43,347	$ 72,006

CONSOLIDATED STATEMENTS OF EQUI

CONSOLIDATED STATEMENTS OF EQUITY - USD ($) shares in Thousands, $ in Thousands	Total	PREFERRED SHARES [Member]	COMMON SHARES [Member]	ACCUMULATED DISTRIBUTIONS IN EXCESS OF NET INCOME [Member]	ACCUMULATED OTHER COMPREHENSIVE INCOME [Member]	NONREDEEMABLE NONCONTROLLING INTERESTS [Member]	Series A Preferred Stock [Member]	Series A Preferred Stock [Member]ACCUMULATED DISTRIBUTIONS IN EXCESS OF NET INCOME [Member]	Series B Preferred Stock [Member]	Series B Preferred Stock [Member]ACCUMULATED DISTRIBUTIONS IN EXCESS OF NET INCOME [Member]	Series C Preferred Stock [Member]	Series C Preferred Stock [Member]PREFERRED SHARES [Member]	Series C Preferred Stock [Member]ACCUMULATED DISTRIBUTIONS IN EXCESS OF NET INCOME [Member]
Balance at Apr. 30, 2015	$ 740,954	$ 138,674	$ 951,868	$ (438,432)		$ 88,844
Balance (in shares) at Apr. 30, 2015			124,455
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Net income attributable to Investors Real Estate Trust and noncontrolling interests	76,568			72,006		4,562
Distributions – common shares and units	(71,290)			(64,060)		(7,230)
Distributions - preferred shares	(11,514)						$ (2,372)	$ (2,372)	$ (9,142)	$ (9,142)
Distribution reinvestment and share purchase plan	5,619		$ 5,619
Distribution reinvestment and share purchase plan (in shares)			821
Shares issued and share-based compensation	1,728		$ 1,728
Shares issued and share-based compensation (in shares)			185
Partnership units issued	18,226					18,226
Redemption of units for common shares	0		$ 1,477			(1,477)
Redemption of units for common shares (in shares)			273
Shares repurchased	(35,000)		$ (35,000)
Shares repurchased (in shares)			(4,643)
Distributions to nonredeemable noncontrolling interests – consolidated real estate entities	(7,029)					(7,029)
Adjustments to prior year redemption of units for common shares	0		$ (3,608)			3,608
Balance at Apr. 30, 2016	718,262	138,674	$ 922,084	(442,000)		99,504
Balance (in shares) at Apr. 30, 2016			121,091
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Net income attributable to Investors Real Estate Trust and noncontrolling interests	30,947			43,347		(12,400)
Distributions – common shares and units	(63,360)			(55,907)		(7,453)
Distributions - preferred shares	(10,546)						$ (1,403)	$ (1,403)	(9,143)	(9,143)
Shares issued and share-based compensation	358		$ 358
Shares issued and share-based compensation (in shares)			389
Redemption of units for common shares	0		$ 875			(875)
Redemption of units for common shares (in shares)			503
Redemption of units for cash	(966)					(966)
Shares repurchased	(33,253)	(27,317)	$ (4,501)	(1,435)
Shares repurchased (in shares)			(778)
Contributions from nonredeemable noncontrolling interests – consolidated real estate entities	7,188					7,188
Conversion to equity of notes receivable from nonredeemable noncontrolling interests – consolidated real estate entities	(7,366)					(7,366)
Acquisition of nonredeemable noncontrolling interests – consolidated real estate entities	(4,938)		$ (2,677)			(2,261)
Other	(232)		$ (18)			(214)
Other (in shares)			(6)
Balance at Apr. 30, 2017	636,094	111,357	$ 916,121	(466,541)	$ 0	75,157
Balance (in shares) at Apr. 30, 2017			121,199
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Net income attributable to Investors Real Estate Trust and noncontrolling interests	128,370			116,788		11,582
Other comprehensive income - derivative instrument	1,779				1,779
Distributions – common shares and units	(37,785)			(33,689)		(4,096)
Distributions - preferred shares	(8,569)								$ (4,571)	$ (4,571)	$ (3,999)		$ (3,999)
Shares issued and share-based compensation	1,663		$ 1,663
Shares issued and share-based compensation (in shares)			96
Issuance of Series C preferred shares											$ 99,456	$ 99,456
Redemption of units for common shares	0		$ 34			(34)
Redemption of units for common shares (in shares)			29
Redemption of units for cash	(8,775)					(8,775)
Shares repurchased	(124,949)	(111,357)	$ (9,935)	(3,657)
Shares repurchased (in shares)			(1,780)
Contributions from nonredeemable noncontrolling interests – consolidated real estate entities	619					619
Conversion to equity of notes receivable from nonredeemable noncontrolling interests – consolidated real estate entities	(246)					(246)
Other	(157)		$ (40)			(117)
Other (in shares)			(18)
Balance at Apr. 30, 2018	$ 687,499	$ 99,456	$ 907,843	$ (395,669)	$ 1,779	$ 74,090
Balance (in shares) at Apr. 30, 2018			119,526

CONSOLIDATED STATEMENTS OF CASH

CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($) $ in Thousands	12 Months Ended
	Apr. 30, 2018	Apr. 30, 2017	Apr. 30, 2016
CASH FLOWS FROM OPERATING ACTIVITIES
Net income	$ 127,629	$ 30,525	$ 76,602
Adjustments to reconcile net income to net cash provided by operating activities:
Depreciation and amortization	83,276	46,135	41,098
Depreciation and amortization from discontinued operations	8,526	10,477	24,357
Gain on sale of real estate, land, other investments and discontinued operations	(183,687)	(74,847)	(33,423)
(Gain) loss on extinguishment of debt and discontinued operations	608	1,041	(35,552)
Gain on bargain purchase	0	0	(3,424)
Share-based compensation expense	1,587	6	2,256
Impairment of real estate investments	18,065	57,028	5,983
Other, net	1,457	499	651
Write off of development pursuit costs	0	3,161	0
Changes in other assets and liabilities:
Other assets	(1,575)	(2,529)	2,237
Accounts payable and accrued expenses	(7,851)	2,434	(14,292)
Net cash provided (used) by operating activities	48,035	73,930	66,493
CASH FLOWS FROM INVESTING ACTIVITIES
Proceeds from real estate deposits	154,927	1,370	5,203
Payments for real estate deposits	(131,268)	(25,029)	(2,714)
Increase in loans receivable	(15,480)	0	0
Decrease in other investments	0	50	279
Decrease in lender holdbacks for improvements	1,619	2,665	4,347
Increase in lender holdbacks for improvements	(1,201)	(903)	(1,136)
Proceeds from sale of discontinued operations	426,131	237,135	365,845
Proceeds from sale of real estate and other investments	64,639	47,354	40,306
Insurance proceeds received	584	88	1,320
Payments for acquisitions of real estate assets	(374,081)	0	(121,821)
Payments for development and re-development of real estate assets	(2,655)	(18,274)	(122,801)
Payments for improvements of real estate assets	(17,980)	(41,083)	(26,904)
Payments for improvements of real estate assets from discontinued operations	(1,046)	(1,110)	(7,672)
Net cash provided (used) by investing activities	104,189	202,263	134,252
CASH FLOWS FROM FINANCING ACTIVITIES
Proceeds from mortgages payable	0	84,150	143,574
Principal payments on mortgages payable	(198,320)	(295,136)	(234,885)
Proceeds from revolving lines of credit	370,350	246,000	82,000
Principal payments on revolving lines of credit	(303,400)	(206,450)	(125,000)
Proceeds from notes payable and other debt	3,252	19,341	94,142
Principal payments on notes payable and other debt	(21,689)	(49,080)	(24,754)
Payoff of financing liability	(7,900)	0	0
Proceeds from term loan	69,462	0	0
Proceeds from sale of common shares under distribution reinvestment and share purchase program	0	0	1,493
Additions to notes receivable from noncontrolling partner – consolidated real estate entities	0	(9,211)	0
Proceeds from noncontrolling partner – consolidated real estate entities	0	9,749	1,120
Payments for acquisition of noncontrolling interests – consolidated real estate entities	0	(4,938)	0
Proceeds from sale of preferred shares	99,467	0	0
Repurchase of common shares	(9,935)	(4,501)	(35,000)
Repurchase of preferred shares	(115,017)	(28,752)	0
Repurchase of partnership units	(8,775)	(966)	0
Distributions paid to common shareholders	(33,689)	(55,907)	(60,063)
Distributions paid to preferred shareholders	(8,763)	(10,744)	(11,514)
Distributions paid to noncontrolling interests – Unitholders of the Operating Partnership	(4,096)	(7,453)	(7,101)
Distributions paid to noncontrolling interests – consolidated real estate entities	(99)	(174)	(7,029)
Net cash provided (used) by financing activities	(169,152)	(314,072)	(183,017)
NET INCREASE (DECREASE) IN CASH AND CASH EQUIVALENTS	(16,928)	(37,879)	17,728
CASH AND CASH EQUIVALENTS AT BEGINNING OF YEAR	28,819	66,698	48,970
CASH AND CASH EQUIVALENTS AT END OF YEAR	11,891	28,819	66,698
SUPPLEMENTARY SCHEDULE OF NON-CASH INVESTING AND FINANCING ACTIVITIES
Distribution reinvestment plan – shares issued	0	0	3,997
Operating partnership distribution reinvestment plan – shares issued	0	0	130
Operating partnership units converted to shares	34	875	1,477
Real estate assets acquired through the issuance of operating partnership units	0	0	18,226
(Decrease) increase to accounts payable included within real estate investments	(3,415)	(1,851)	(10,420)
Conversion to equity of notes receivable from noncontrolling interests – consolidated real estate entities	0	9,846	0
Construction debt reclassified to mortgages payable	23,300	10,549	123,553
Increase in mortgage notes receivable	10,329	0	0
Decrease in real estate assets in connection with transfer of real estate assets in settlement of debt	0	0	87,213
Decrease in debt in connection with transfer of real estate assets in settlement of debt	0	0	122,610
SUPPLEMENTAL DISCLOSURE OF CASH FLOW INFORMATION
Cash paid for interest, net of amounts capitalized of $4, $431 and $4,396, respectively	$ 35,758	$ 34,432	$ 39,668

CONSOLIDATED STATEMENTS OF CAS8

CONSOLIDATED STATEMENTS OF CASH FLOWS (Parenthetical) - USD ($) $ in Thousands	12 Months Ended
	Apr. 30, 2018	Apr. 30, 2017	Apr. 30, 2016
CASH FLOWS FROM FINANCING ACTIVITIES
Cash paid for interest	$ 4	$ 431	$ 4,396

ORGANIZATION

ORGANIZATION	12 Months Ended
	Apr. 30, 2018
Organization, Consolidation and Presentation of Financial Statements [Abstract]
ORGANIZATION	ORGANIZATION Investors Real Estate Trust (“IRET,” “we” or “us”) is a real estate investment trust (“REIT”) focused on the ownership, management, acquisition, redevelopment and development of apartment communities. As of April 30, 2018 , we held for investment 90 apartment communities with 14,176 apartment homes. We conduct a majority of our business activities through our consolidated operating partnership, IRET Properties, a North Dakota Limited Partnership (the “Operating Partnership”), as well as through a number of other subsidiary entities. All references to IRET, we, or us refer to Investors Real Estate Trust and its consolidated subsidiaries.

BASIS OF PRESENTATION AND SIGNI

BASIS OF PRESENTATION AND SIGNIFICANT ACCOUNTING POLICIES	12 Months Ended
	Apr. 30, 2018
Accounting Policies [Abstract]
BASIS OF PRESENTATION AND SIGNIFICANT ACCOUNTING POLICIES	BASIS OF PRESENTATION AND SIGNIFICANT ACCOUNTING POLICIES BASIS OF PRESENTATION The accompanying consolidated financial statements include our accounts and the accounts of all our subsidiaries in which we maintain a controlling interest, including the Operating Partnership. All intercompany balances and transactions are eliminated in consolidation. Our fiscal year ends April 30th. Our interest in the Operating Partnership was 89.4% and 88.6% , respectively, of the limited partnership units of the Operating Partnership (“Units”) as of April 30, 2018 and 2017 , which includes 100% of the general partnership interest. The consolidated financial statements also reflect the ownership by the Operating Partnership of certain joint venture entities in which the Operating Partnership has a general partner's or controlling interest. These entities are consolidated into our other operations with noncontrolling interests reflecting the noncontrolling partners’ share of ownership, income, and expenses. USE OF ESTIMATES The preparation of financial statements in conformity with GAAP requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities and disclosure of contingent assets and liabilities at the date of the financial statements and the reported amounts of revenues and expenses during the reporting period. Actual results could differ from those estimates. TAX CUTS AND JOBS ACT OF 2017 The Tax Cuts and Jobs Act of 2017 was passed on December 22, 2017. This Act includes a number of changes to the corporate income tax system, including (1) a reduction in the statutory federal corporate income tax rate from 35% to 21% for non-REIT “C” corporations, (2) changes to deductions for certain pass-through business income, and (3) potential limitations on interest expense, depreciation, and the deductibility of executive compensation. As a REIT, we generally will not be subject to federal income tax on our taxable income at the corporate level and do not believe that any of the changes from the Tax Cut and Jobs Act of 2017 will have a material impact on our consolidated financial statements. However, the full impact of this Act is not yet fully known, and there can be no assurance that it will not have an adverse impact on our results of operations. RECENT ACCOUNTING PRONOUNCEMENTS The following table provides a brief description of recent GAAP accounting standards updates (“ASUs”). Standard Description Date of Adoption Effect on the Financial Statements or Other Significant Matters ASU 2014-09, Revenue from Contracts with Customers This ASU will eliminate the transaction- and industry-specific revenue recognition guidance under current GAAP and replace it with a principle based approach for determining revenue recognition. The standard outlines a five-step model whereby revenue is recognized as performance obligations within a contract are satisfied. This ASU is effective for annual reporting periods beginning after December 15, 2017, as a result of a deferral of the effective date arising from the issuance of ASU 2015-14, Revenue from Contracts with Customers - Deferral of the Effective Date . Early adoption is permitted. We will adopt the new standard effective May 1, 2018 using the modified retrospective approach. The majority of our revenue is derived from rental income, which is scoped out from this standard and will be accounted for under ASC 840, Leases . Our other revenue streams were evaluated under this ASU and we determined the new standard will not have a material impact on our consolidated financial statements. ASU 2016-02, Leases This ASU amends existing accounting standards for lease accounting, including by requiring lessees to recognize most leases on the balance sheet and making certain changes to lessor accounting. This ASU is effective for annual reporting periods beginning after December 15, 2018. Early adoption is permitted. We do not anticipate significant changes in the timing of income from our leases with residents. However, in certain circumstances where we are a lessee, primarily in leases for office space, we will be required to recognize right of use assets and related lease liabilities on our consolidated balance sheets. We do not anticipate the adoption of this standard will have a material impact on our financial condition or results of operations. We are in the process of determining the amount of the right of use assets and related lease liabilities that will be recognized upon adoption. ASU 2016-09, Improvements to Employee Share-Based Payment Accounting This ASU amends several aspects of the accounting for share-based payment transactions, including the income tax consequences, accrual of compensation cost, classification of awards as either equity or liabilities, and classification on the statement of cash flows. This ASU is effective for annual reporting periods beginning after December 15, 2016. We adopted this guidance effective May 1, 2017. Upon adoption of the standard, we elected to account for forfeitures when they occur instead of estimating the forfeitures. The new standard did not have a material effect on our financial position, results of operations or earnings per share. ASU 2016-15, Classification of Certain Cash Receipts and Cash Payments This ASU addresses eight specific cash flow issues with the objective of reducing diversity in practice. The cash flow issues include debt prepayment or debt extinguishment costs and proceeds from the settlement of insurance claims. This ASU is effective for fiscal years beginning after December 15, 2017, and interim periods within those fiscal years. Early adoption is permitted. This guidance is effective May 1, 2018. Payments related to debt prepayment or debt extinguishment costs are required to be classified within financing activities. While overall cash flows will not change, there will be changes between cash flow classifications due primarily to the debt prepayment penalties incurred in comparative periods. ASU 2017-01, Clarifying the Definition of a Business This ASU clarifies the definition of a business and provides further guidance for evaluating whether a transaction will be accounted for as an acquisition of an asset or a business. This new standard is required to be applied prospectively to transactions occurring after the date of adoption. This ASU is effective for annual periods beginning after December 15, 2017, including interim periods within those annual periods. Early adoption is permitted. We adopted this standard effective May 1, 2017. We believe that most of our future acquisitions of operating properties will qualify as asset acquisitions and most future transaction costs associated with these acquisitions will be capitalized. Adoption of the standard did not have a material effect on our financial position or results of operations. During the fiscal year ended April 30, 2018, acquisition costs totaling $411,536 were capitalized and allocated to the assets acquired based on the relative fair market value of those underlying assets. Standard Description Date of Adoption Effect on the Financial Statements or Other Significant Matters ASU 2017-05, Other Income – Gains and Losses from the Derecognition of Nonfinancial Assets (Subtopic 610-20): Clarifying the Scope of Asset Derecognition Guidance and Accounting for Partial Sales of Nonfinancial Assets This ASU clarifies the definition of an in-substance nonfinancial asset and changes the accounting for partial sales of nonfinancial assets to be more consistent with the accounting for a sale of a business pursuant to ASU 2017-01. This ASU allows for either a retrospective or modified retrospective approach. This ASU is effective for annual reporting periods beginning after December 15, 2017, including interim reporting periods within that reporting period. Early adoption is permitted. This standard allows for either a retrospective or modified retrospective approach. We are currently evaluating the impact this standard may have on our consolidated financial statements and related disclosures upon adoption. ASU 2017-12, Derivatives and Hedging (Topic 815): Targeted Improvements to Accounting for Hedging Activities This ASU clarifies hedge accounting requirements, improves disclosure of hedging arrangements, and better aligns risk management activities and financial reporting for hedging relationships. This ASU is effective for annual periods beginning after December 15, 2018, and interim periods within those annual periods. Early adoption is permitted. We adopted ASU 2017-12 on November 1, 2017. Adoption of the new standard did not have a material effect on our financial position or results of operations. See Note 6 for additional information. RECLASSIFICATIONS Certain previously reported amounts have been reclassified to conform to the current financial statement presentation, these reclassifications had no impact on net income as reported in the consolidated statement of operations, total assets, liabilities or equity as reported in the consolidated balance sheets and total shareholder’s equity. We report in discontinued operations the results of operations and the related gains or losses of properties that have either been disposed or classified as held for sale and for which the disposition represents a strategic shift that has or will have a major effect on our operations and financial results. As the result of discontinued operations, retroactive reclassifications that change prior period numbers have been made. We classified as discontinued operations 27 healthcare properties that sold during fiscal year 2018. See Note 10 for additional information. REAL ESTATE INVESTMENTS Real estate investments are recorded at cost less accumulated depreciation and an adjustment for impairment, if any. Property, consisting primarily of real estate investments, totaled $1.4 billion and $1.1 billion as of April 30, 2018 and 2017 , respectively. We allocate the purchase price based on the relative fair values of the tangible and intangible assets of an acquired property (which includes the land, building, and personal property) which are determined by valuing the property as if it were vacant and fair value of the intangible assets (which include in-place leases.) The as-if-vacant value is allocated to land, buildings and personal property based on management’s determination of the relative fair values of these assets. The estimated fair value of the property is the amount that would be recoverable upon the disposition of the property. Techniques used to estimate fair value include discounted cash flow analysis and reference to recent sales of comparables. A land value is assigned based on the purchase price if land is acquired separately or based on estimated fair value if acquired in a single or portfolio acquisition. Acquired above- and below-market lease values are recorded as the difference between the contractual amounts to be paid pursuant to the in-place leases and management’s estimate of fair market value lease rates for the corresponding in-place leases. The capitalized above- and below-market lease values are amortized as adjustments to rental revenue over the remaining terms of the respective leases, which includes fixed rate renewal options for below-market leases if it is determined probable the tenant will execute a bargain renewal option. Other intangible assets acquired include amounts for in-place lease values that are based upon our evaluation of the specific characteristics of the leases. Factors considered in the fair value analysis include an estimate of carrying costs and foregone rental income during hypothetical expected lease-up periods, considering current market conditions, and costs to execute similar leases. We also consider information about each property obtained during pre-acquisition due diligence, marketing, and leasing activities in estimating the relative fair value of the tangible and intangible assets acquired. Depreciation is computed on a straight-line basis over the estimated useful lives of the assets. We use a 10 - 37 year estimated life for buildings and improvements and a 5 - 10 year estimated life for furniture, fixtures, and equipment. We follow the real estate project costs guidance in ASC 970, Real Estate – General, in accounting for the costs of development and redevelopment projects. As real estate is undergoing development or redevelopment, all project costs directly associated with and attributable to the development and construction of a project, including interest expense and real estate tax expense, are capitalized to the cost of the real property. The capitalization period begins when development activities and expenditures begin and are identifiable to a specific property and ends upon completion, which is when the asset is ready for its intended use. Generally, rental property is considered substantially complete and ready for its intended use, which is generally upon issuance of a certificate of occupancy (in the case of apartment communities). General and administrative costs are expensed as incurred. Interest of approximately $4,000 , $431,000 , and $4.9 million has been capitalized in continuing and discontinue operations for the years ended April 30, 2018 , 2017 , and 2016 , respectively. Expenditures for ordinary maintenance and repairs are expensed to operations as incurred. Renovations and improvements that improve and/or extend the useful life of the asset are capitalized and depreciated over their estimated useful life, generally five to ten years. Property sales or dispositions are recorded when title transfers, we have received sufficient consideration, and we have no significant continuing involvement with the property sold. We periodically evaluate our long-lived assets, including real estate investments, for impairment indicators. The judgments regarding the existence of impairment indicators are based on factors such as operational performance, market conditions, expected holding period of each asset group, and legal and environmental concerns. If indicators exist, we compare the expected future undiscounted cash flows for the long-lived asset group against the carrying amount of that asset. If the sum of the estimated undiscounted cash flows is less than the carrying amount of the asset, an impairment loss is recorded for the difference between the estimated fair value and the carrying amount of the asset group. If our anticipated holding period for properties, the estimated fair value of properties or other factors change based on market conditions or otherwise, our evaluation of impairment charges may be different and such differences could be material to our consolidated financial statements. The evaluation of anticipated cash flows is subjective and is based, in part, on assumptions regarding future occupancy, rental rates, and capital requirements that could differ materially from actual results. Plans to hold properties over longer periods decrease the likelihood of recording impairment losses. During fiscal year 2018, we incurred a loss of $18.1 million due to impairment of one apartment community, three other commercial properties, and four parcels of land. We recognized impairments of $12.2 million on one apartment community in Grand Forks, North Dakota; $1.4 million on an industrial property in Bloomington, Minnesota; $922,000 on an industrial property in Woodbury, Minnesota; $630,000 on a retail property in Minot, North Dakota. These properties were written-down to estimated fair value based on independent appraisals and market data or, in the case of the retail property, receipt of a market offer to purchase and our intent to dispose of the property. We recognized impairments of $428,000 on a parcel of land in Williston, North Dakota; $1.5 million on a parcel of land in Grand Forks, North Dakota; $256,000 and $709,000 on two parcels of land in Bismarck, North Dakota. These parcels were written down to estimated fair value based on independent appraisals and market data. During fiscal year 2017, we incurred a loss of $57.0 million due to impairment of 16 apartment communities and two parcels of unimproved land. We recognized impairments of $40.9 million , $5.8 million , $4.7 million , and $2.8 million , respectively, on three apartment communities and one parcel of unimproved land in Williston, North Dakota, due to deterioration of this energy-impacted market, which resulted in poor leasing activity and declining rental rates during the three months ended July 31, 2016, which should generally be a strong leasing period. These properties were written down to estimated fair value based on an independent appraisal in the case of one property and management cash flow estimates and market data in the case of the remaining assets. The properties impaired for $40.9 million , $4.7 million , and $2.8 million are owned by joint venture entities in which, at the time of impairment, we had an approximately 70% , 60% , and 70% interest, respectively, but which are consolidated in our consolidated financial statements. We recognized impairments of $2.9 million on 13 properties and one parcel of land in Minot, North Dakota. These properties were written down to estimated fair value based on management cash flow estimates and market data and, in the case of the 13 properties, our intent to dispose of the properties. During fiscal year 2016, we incurred a loss of $6.0 million due to impairment of one office property, one healthcare property, two parcels of land, and eight apartment communities of which approximately $440,000 is reflected in discontinued operations. See Note 10 for additional information on discontinued operations. We recognized impairments of approximately $440,000 on an office property in Eden Prairie, Minnesota; $1.9 million on a healthcare property in Sartell, Minnesota; $1.6 million on a parcel of land in Grand Chute, Wisconsin; $1.9 million on eight apartment communities in St. Cloud, Minnesota; and $162,000 on a parcel of land in River Falls, Wisconsin. These properties were written down to estimated fair value during fiscal year 2016 based on receipt of individual market offers to purchase and our intent to dispose of the properties or, in the case of the Grand Chute, Wisconsin, the sale listing price and our intent to dispose of the property. The Sartell, Minnesota property was classified as held for sale at April 30, 2016. CHANGE IN DEPRECIABLE LIVES OF REAL ESTATE ASSETS We review the estimated useful lives of our real estate assets on an ongoing basis. Prior to our strategic shift to become a multifamily-focused REIT, which began in fiscal year 2016, we operated in five segments (office, retail, industrial, healthcare and multifamily). Accordingly, our estimated useful lives represented a blend of these segments. During fiscal years 2016 and 2017, we disposed of the bulk of our office, retail, and industrial portfolios as well as a portion of our healthcare portfolio. In the first quarter of fiscal year 2018, we determined it was appropriate to review and adjust our estimated useful lives to be specific to our remaining asset portfolio. Effective May 1, 2017, we changed the estimated useful lives of our real estate assets to better reflect the estimated periods during which they will be of economic benefit. Generally, the estimated lives of buildings and improvements that previously were 20 - 40 years have been decreased to 10 - 37 years, while those that were previously nine years were changed to 5 - 10 years. The effect of this change in estimate for the fiscal year ended April 30, 2018 , was to increase depreciation expense by approximately $29.3 million , decrease net income by $29.3 million , and decrease earnings per share by $0.22 . In the first quarter of fiscal year 2018, $9.0 million , or $0.07 per share, represented depreciation on assets that became fully depreciated under the new estimated useful lives. REAL ESTATE HELD FOR SALE Real estate held for sale is stated at the lower of its carrying amount or estimated fair value less disposal costs. Our determination of fair value is based on inputs management believes are consistent with those that market participants would use. Estimates are significantly impacted by estimates of sales price, selling velocity, and other factors. Due to uncertainties in the estimation process, actual results could differ from such estimates. Depreciation is not recorded on assets classified as held for sale. We classify properties as held for sale when they meet the GAAP criteria, which include: (a) management commits to and initiates a plan to sell the asset (disposal group), (b) the sale is probable and expected to be completed within one year under terms that are usual and customary for sales of such assets (disposal groups), and (c) actions required to complete the plan indicate that it is unlikely that significant changes to the plan will be made or that the plan will be withdrawn. We generally consider these criteria met when the transaction has been approved by our Board of Trustees, there are no known significant contingencies related to the sale and management believes it is probable that the sale will be completed within one year . We had no properties classified as held for sale at April 30, 2018 . Thirteen apartment communities, two healthcare properties, and two retail properties were classified as held for sale at April 30, 2017 . We report in discontinued operations the results of operations and the related gains or losses on the sales of properties that have either been disposed of or classified as held for sale and meet the classification of a discontinued operation as described in ASC 205 - Presentation of Financial Statements and ASC 360 - Property, Plant, and Equipment: Reporting Discontinued Operations and Disclosures of Disposals of Components of an Entity . Under this standard, a disposal (or classification as held for sale) of a component of an entity or a group of components of an entity is required to be reported in discontinued operations if the disposal represents a strategic shift that has (or will have) a major effect on an entity’s operations and financial results. PROPERTY AND EQUIPMENT Property and equipment consists primarily of office equipment contained at our headquarters in Minot, North Dakota, corporate offices in Minneapolis and St. Cloud, Minnesota, and additional property management offices located in the states where we own properties. The Consolidated Balance Sheets reflects these assets at cost, net of accumulated depreciation and are included within Other Assets. As of April 30, 2018 and 2017 , property and equipment cost was $2.1 million and $2.1 million , respectively. Accumulated depreciation was $1.3 million and $1.2 million as of April 30, 2018 and 2017 , respectively, and are included within other assets in the Consolidated Balance Sheets. CASH AND CASH EQUIVALENTS Cash and cash equivalents include all cash and highly liquid investments purchased with maturities of three months or less. Cash and cash equivalents consist of our bank deposits, short-term investment certificates acquired subject to repurchase agreements, and our deposits in a money market mutual fund. We are potentially exposed to credit risk for cash deposited with FDIC-insured financial institutions in accounts which, at times, may exceed federally insured limits. We have not experienced any losses in such accounts. RESTRICTED CASH As of April 30, 2018 and 2017 , restricted cash consisted of $4.2 million and $4.3 million , respectively, of escrows held by lenders for real estate taxes, insurance, and capital additions. As of April 30, 2017, we held $23.7 million of net tax-deferred exchange proceeds remaining from the sale of properties. Tax, insurance, and other escrows include funds deposited with a lender for payment of real estate taxes and insurance and reserves for funds to be used for replacement of structural elements and mechanical equipment of certain projects. The funds are under the control of the lender. Disbursements are made after supplying written documentation to the lender. OTHER ASSETS As of April 30, 2018 and 2017 , other assets consisted of the following amounts: in thousands 2018 2017 Receivable arising from straight line rents $ 1,458 $ 2,145 Accounts receivable 2,583 2,626 Fair value of interest rate swap 1,779 — Loans receivable 15,480 — Prepaid and other assets 2,832 2,741 Intangible assets 1,469 202 Property and equipment, net of accumulated depreciation 820 901 Goodwill 1,553 1,572 Deferred charges and leasing costs 2,323 3,119 Total Other Assets $ 30,297 $ 13,306 INCOME TAXES We operate in a manner intended to enable us to continue to qualify as a REIT under Sections 856-860 of the Internal Revenue Code of 1986, as amended. Under those sections, a REIT which distributes at least 90% of its REIT taxable income, excluding capital gains, as a dividend to its shareholders each year and which meets certain other conditions will not be taxed on that portion of its taxable income which is distributed to shareholders. For the fiscal years ended April 30, 2018 , 2017 , and 2016 , we distributed in excess of 90% of our taxable income and realized capital gains from property dispositions within the prescribed time limits. Accordingly, no provision has been made for federal income taxes in the accompanying consolidated financial statements. If we fail to qualify as a REIT in any taxable year, we will be subject to federal income tax on our taxable income at regular corporate rates (including any alternative minimum tax) and may not be able to qualify as a REIT for the four subsequent taxable years. Even as a REIT, we may be subject to certain state and local income and property taxes, and to federal income and excise taxes on undistributed taxable income. In general, however, if we qualify as a REIT, no provisions for federal income taxes are necessary except for taxes on undistributed REIT taxable income and taxes on the income generated by a taxable REIT subsidiary (TRS). We have one TRS, acquired during the second quarter of fiscal year 2014, which is subject to corporate federal and state income taxes on its taxable income at regular statutory rates. For the fiscal year ended April 30, 2018 , we estimate that the TRS will have no taxable income. There were no income tax provisions or material deferred income tax items for our TRS for the fiscal years ended April 30, 2018 , 2017 , and 2016 . We conduct our business activity as an Umbrella Partnership Real Estate Investment Trust (“UPREIT”) through our Operating Partnership. UPREIT status allows us to accept the contribution of real estate in exchange for Units. Generally, such a contribution to a limited partnership allows for the deferral of gain by an owner of appreciated real estate. Distributions for the calendar year ended December 31, 2017, were characterized, for federal income tax purposes, as 14.59% ordinary income, 48.87% capital gain, and 36.54% return of capital. Distributions for the calendar year ended December 31, 2016 were characterized, for federal income tax purposes, as 12.43% ordinary income and 87.57% capital gain. REVENUE RECOGNITION The Company primarily leases apartment homes under operating leases with terms generally of one year or less. Rental revenue is recognized on the straight-line basis, which averages minimum required rents over the terms of the leases. Rental income represents gross market rent less adjustments for concessions, vacancy loss, and bad debt. Rents recognized in advance of collection are reflected as receivable arising from straight-lining of rents, net of allowance for doubtful accounts. Rent concessions, including free rent, are amortized on a straight-line basis over the terms of the related leases. PROCEEDS FROM FINANCING LIABILITY During the first quarter of fiscal year 2014, we sold a senior housing property in exchange for $7.9 million in cash and a $29.0 million contract for deed which matures August 1, 2018. The buyer leased the property back to us, and also granted us an option to repurchase the property at a specified price at or prior to July 31, 2018. We accounted for the transaction as a financing due to our continuing involvement with the property and recorded the $7.9 million in sales proceeds within liabilities held for sale and liabilities from discontinued operations on the Consolidated Balance Sheets. As of April 30, 2018 , we no longer have the liability as we exercised our option to repurchase the property during the year ended April 30, 2018 . MORTGAGE LOANS RECEIVABLE AND NOTES RECEIVABLE In August 2017, we sold 13 apartment communities in exchange for cash and a note secured by a mortgage on the assets. The sale was recorded using the installment method, under which cash receipts are apportioned between cost recovered and the gain on sale. The $11.0 million note is presented net of $626,000 of deferred gain in mortgage loans receivable on our Consolidated Balance Sheets. The note bears an interest rate of 5.5% and matures in August 2020. Monthly payments are interest-only, with the principal balance payable at maturity. During the fiscal year ended April 30, 2018 , we received and recognized approximately $372,000 of interest income. In July 2017, we originated a $16.2 million loan in a multifamily development located in New Hope, MN, a Minneapolis suburb. The investment will be funded in installments through the first quarter of fiscal year 2019. As of April 30, 2018 , we had funded $15.5 million , which appears in other assets on our Consolidated Balance Sheets. The note bears an interest rate of 6% , matures in July 2023, and provides us an option to purchase the development prior to the loan maturity date. VARIABLE INTEREST ENTITY As discussed in the Recent Accounting Pronouncements section, effective May 1, 2016, we adopted the guidance in ASU 2015-02. As a result, the Operating Partnership and each of our less-than-wholly owned real estate partnerships have been deemed to have the characteristics of a variable interest entity (“VIE”). However, we were not required to consolidate any previously unconsolidated entities or deconsolidate any previously consolidated entities as a result of the change in classification. Accordingly, there has been no change to the recognized amounts in our consolidated balance sheets and statements of operations or amounts reported in our consolidated statements of cash flows. We determined that an additional six consolidated partnerships, including the Operating Partnership, are VIEs under the new standard because the limited partners are not able to exercise substantive kick-out or participating rights. We are the VIEs primary beneficiary and the partnerships are required to be consolidated on our balance sheet because we have a controlling financial interest in the VIEs and have both the power to direct the activities of the VIEs that most significantly impact the VIE’s economic performance as well as the obligation to absorb losses or the right to receive benefits from the VIEs that could potentially be significant to the VIEs. Because the Operating Partnership is a VIE, all of our assets and liabilities are held through a VIE. GAIN ON BARGAIN PURCHASE During fiscal year 2016, we acquired an apartment community in Rochester, MN, which had a fair value at acquisition of approximately $36.3 million , as appraised by a third party. The consideration exchanged for the property consisted of $15.0 million cash and approximately 2.5 million Units, valued at approximately $17.8 million . The fair value of the Units transferred was based on the closing market price of our common shares on the acquisition date of $7.09 per share. The acquisition resulted in a gain on bargain purchase because the fair value of assets acquired exceeded the total of the fair value of the consideration paid by approximately $3.4 million . The seller accepted consideration below the fair value of the property in order to do a partial tax-deferred exchange for Units.

NONCONTROLLING INTERESTS

NONCONTROLLING INTERESTS	12 Months Ended
	Apr. 30, 2018
Noncontrolling Interest [Abstract]
NONCONTROLLING INTERESTS	NONCONTROLLING INTERESTS Interests in the Operating Partnership held by limited partners are represented by Units. The Operating Partnership’s income is allocated to holders of Units based upon the ratio of their holdings to the total Units outstanding during the period. Capital contributions, distributions, and profits and losses are allocated to noncontrolling interests in accordance with the terms of the Operating Partnership’s Agreement of Limited Partnership. We reflect noncontrolling interests in consolidated real estate entities on the Balance Sheet for the portion of properties consolidated by us that are not wholly owned by us. The earnings or losses from these properties attributable to the noncontrolling interests are reflected as net income attributable to noncontrolling interests – consolidated real estate entities in the Consolidated Statements of Operations. Our noncontrolling interests – consolidated real estate entities at April 30, 2018 and 2017 were as follows: (in thousands) April 30, 2018 April 30, 2017 IRET-71 France, LLC $ 6,604 $ 7,425 IRET-Cypress Court Apartments, LLC 897 986 IRET-Williston Garden Apartments, LLC 1,371 1,057 IRET - WRH 1, LLC (8,018 ) (7,904 ) WRH Holding, LLC 224 360 Noncontrolling interests – consolidated real estate entities $ 1,078 $ 1,924

REDEEMABLE NONCONTROLLING INTER

REDEEMABLE NONCONTROLLING INTERESTS	12 Months Ended
	Apr. 30, 2018
Temporary Equity Disclosure [Abstract]
REDEEMABLE NONCONTROLLING INTERESTS	REDEEMABLE NONCONTROLLING INTERESTS Redeemable noncontrolling interests on our Consolidated Balance Sheets represent the noncontrolling interest in a joint venture in which our unaffiliated partner, at its election, could require us to buy its interest at a purchase price to be determined by an appraisal conducted in accordance with the terms of the agreement, or at a negotiated price. Redeemable noncontrolling interests are presented at the greater of their carrying amount or redemption value at the end of each reporting period. Changes in the value from period to period are charged to common shares on our Consolidated Balance Sheets. We currently have one joint venture, which owns Commons and Landing at Southgate in Minot, North Dakota, in which our joint venture partner can, for the four -year period from February 6, 2016 through February 5, 2020, compel us to acquire its interest for a price to be determined in accordance with the provisions of the joint venture agreement. Below is a table reflecting the activity of the redeemable noncontrolling interests. (in thousands) 2018 2017 2016 Balance at beginning of fiscal year $ 7,181 $ 7,522 $ 6,368 Contributions 268 81 1,120 Net (loss) income (741 ) (422 ) 34 Balance at close of fiscal year $ 6,708 $ 7,181 $ 7,522

DEBT

DEBT	12 Months Ended
	Apr. 30, 2018
Debt Disclosure [Abstract]
DEBT	DEBT As of April 30, 2018 , we owned 99 properties, of which 58 multifamily and other properties (with a carrying amount of $512.1 million ) served as collateral for mortgage loans and 41 multifamily and other properties were unencumbered by mortgages. Of the 58 properties that served as collateral for mortgage loans, the majority of these mortgages payable were non-recourse to us other than for standard carve-out obligations. Interest rates on mortgage loans range from 3.47% to 6.66% , and the mortgage loans have varying maturity dates from June 1, 2018 , through May 31, 2035 . As of April 30, 2018 , we believe there are no material defaults or material compliance issues in regards to any of these mortgage loans. 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 As noted above, as of April 30, 2018 , we owned 41 multifamily and other properties that were not encumbered by mortgages, with 30 of these properties providing credit support for our unsecured borrowings. Our primary unsecured credit facility is a revolving, multi-bank line of credit, with the BMO Harris Bank N.A. serving as administrative agent. Our line of credit has total commitments of $300.0 million (the “Line of Credit”), with borrowing capacity based on the value of properties contained in the unencumbered asset pool (“UAP”). The UAP provided for a borrowing capacity of $300.0 million at fiscal year-end, providing additional borrowing availability of $176.0 million beyond the $124.0 million drawn as of April 30, 2018 , priced at an interest rate of 3.66% . This credit facility matures on January 31, 2021, with one 12 -month option to extend the maturity date at our election. At April 30, 2017, the line of credit borrowing capacity was $206.0 million based on the UAP, of which $57.1 million was drawn on the line. During the fiscal year ended April 30, 2018 , we entered into a $70.0 million unsecured term loan, which matures on January 31, 2023. In addition, we increased the credit capacity of our revolving Line of Credit from $250.0 million to $300.0 million , and maintain a $200.0 million accordion option that can be accessed by increasing lending commitments under the current agreement. The interest rates on the line of credit and term loan are based on the lender's base rate plus a margin, ranging from 60-125 basis points, or the London Interbank Offered Rate (“LIBOR”) plus a margin that ranges from 160-225 basis points based on our consolidated leverage. Our line of credit and term loan are subject to customary financial covenants and limitations. We believe that we are in compliance with all such financial covenants and limitations as of April 30, 2018 . During the quarter ended April 30, 2018, we also closed on a $6.0 million operating line of credit. This operating line of credit is designed to enhance treasury management activities and more effectively manage cash balances. This operating line has a one -year term, with pricing based on a market spread plus the one-month LIBOR index rate. As of April 30, 2018 , we have not drawn on this line of credit. Our remaining construction debt was paid off during the year ended April 30, 2018 . Construction debt at April 30, 2017, was $41.7 million , with a weighted average rate of interest of 3.27% . 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.

DERIVATIVE INSTRUMENT

DERIVATIVE INSTRUMENT	12 Months Ended
	Apr. 30, 2018
Derivative Instruments and Hedging Activities Disclosure [Abstract]
DERIVATIVE INSTRUMENT	DERIVATIVE INSTRUMENT Our objective in using an interest rate derivative is to hedge our exposure to the variability in cash flows of our floating-rate debt. To accomplish this objective, during the fiscal year ended April 30, 2018 , we entered into an interest rate swap contract to fix the variable interest rate on our term loan. The interest rate swap had a $70.0 million notional amount and qualified as a cash flow hedge. Under ASU 2017-12, Derivatives and Hedging (Topic 815): Targeted Improvements to Accounting for Hedging Activities , which we adopted on November 1, 2017, the ineffective portion of a hedging instrument is no longer required to be recognized currently in earnings or disclosed. Changes in the fair value of cash flow hedges are recorded in accumulated other comprehensive income and subsequently reclassified into earnings in the period that the hedged transaction affects earnings. Amounts reported in accumulated other comprehensive income for our interest rate swap will be reclassified to interest expense as interest payments are made on our term loan. The gain recognized in other comprehensive income for the fiscal year ended April 30, 2018 , was $1.6 million , and the amount reclassified from accumulated other comprehensive income into interest expense during this period was $152,000 . We anticipate reclassifying approximately $21,000 of hedge gains from accumulated other comprehensive income into earnings within the next 12 months to offset the variability of cash flows of the hedged item during this period. At April 30, 2018 , the fair value of our interest rate swap included in other assets on our Consolidated Balance Sheets was $1.8 million .

TRANSACTIONS WITH RELATED PARTI

TRANSACTIONS WITH RELATED PARTIES	12 Months Ended
	Apr. 30, 2018
Related Party Transactions [Abstract]
TRANSACTIONS WITH RELATED PARTIES	TRANSACTIONS WITH RELATED PARTIES Transactions with BMO Capital Markets We have an historical and ongoing relationship with BMO Capital Markets (“BMO”). On July 17, 2017, we engaged BMO to provide financial advisory services in connection with the proposed disposition of our healthcare property portfolio. A family member of Mark O. Decker, Jr., our President and Chief Executive Officer, is an employee of BMO and could have an indirect material interest in any such engagement and related transaction(s). The Board pre-approved the engagement of BMO. During the fiscal year ended April 30, 2018 , we completed the disposition of 27 of our 28 healthcare properties and paid BMO a transaction fee of $1.8 million in connection with this engagement.

ACQUISITIONS, DEVELOPMENT PROJE

ACQUISITIONS, DEVELOPMENT PROJECTS PLACED IN SERVICE AND DISPOSITIONS	12 Months Ended
	Apr. 30, 2018
Business Combinations [Abstract]
ACQUISITIONS, DEVELOPMENT PROJECTS PLACED IN SERVICE AND DISPOSITIONS	ACQUISITIONS, DEVELOPMENT PROJECTS PLACED IN SERVICE AND DISPOSITIONS ACQUISITIONS We added $373.1 million of new apartment communities to our portfolio through acquisitions during the fiscal year ended April 30, 2018 , compared to $0 in the fiscal year ended April 30, 2017 . Our acquisitions during fiscal year 2018 qualified as asset acquisitions under ASU 2017-01, Clarifying the Definition of a Business , and are detailed below. Fiscal 2018 ( May 1, 2017 to April 30, 2018 ) (in thousands) Total Form of Consideration Investment Allocation Date Acquisition Intangible Acquisitions Acquired Cost Cash Land Building Assets Multifamily 191 homes - Oxbo - St. Paul, MN (1) May 26, 2017 $ 61,500 $ 61,500 $ 5,809 $ 54,910 $ 781 500 homes - Park Place - Plymouth, MN September 13, 2017 92,250 92,250 10,609 80,711 930 274 homes - Dylan - Denver, CO November 28, 2017 90,600 90,600 12,155 77,249 1,196 390 homes - Westend - Denver, CO March 28, 2018 128,700 128,700 25,525 102,101 1,074 Total Acquisitions $ 373,050 $ 373,050 $ 54,098 $ 314,971 $ 3,981 (1) Property includes 11,477 square feet of retail space. DEVELOPMENT PROJECTS PLACED IN SERVICE We placed $0 of development projects in service during fiscal year 2018 , compared to $102.9 million in fiscal year 2017 . The fiscal year 2017 development projects placed in service are detailed below. Fiscal 2017 ( May 1, 2016 to April 30, 2017 ) (in thousands) Date Placed Development Development Projects Placed in Service in Service Land Building Cost Multifamily 241 homes - 71 France - Edina, MN (1) May 1, 2016 $ 4,721 $ 67,641 $ 72,362 202 homes - Monticello Crossings - Monticello, MN (2) March 1, 2017 $ 1,734 $ 28,782 $ 30,516 Total Development Projects Placed in Service $ 6,455 $ 96,423 $ 102,878 (1) Costs paid in prior fiscal years totaled $70.9 million . Additional costs incurred in fiscal year 2017 totaled $1.5 million , for a total project cost at April 30, 2017 of $72.4 million . The project is owned by a joint venture entity in which we currently have an approximately 52.6% interest. The joint venture is consolidated in our financial statements. (2) Costs paid in prior fiscal years totaled $15.5 million . Additional costs incurred in fiscal year 2017 totaled $15.0 million , for a total project cost at April 30, 2017 of $30.5 million . DISPOSITIONS During the fiscal year ended April 30, 2018 , we sold 15 apartment communities, 2 senior housing properties, 28 medical office properties, 5 commercial properties and 2 parcels of unimproved land for a total sales price of $515.1 million . Dispositions totaled $286.9 million in fiscal year 2017 . The fiscal year 2018 and 2017 dispositions are detailed below. Fiscal 2018 ( May 1, 2017 to April 30, 2018 ) (in thousands) Date Book Value Dispositions Disposed Sales Price and Sales Cost Gain/(Loss) Multifamily 327 homes - 13 apartment communities - Minot, ND (1)(2) August 22, 2017 $ 12,263 $ 11,562 $ 701 48 homes - Crown - Rochester, MN December 1, 2017 5,700 3,318 2,382 16 homes - Northern Valley - Rochester, MN December 1, 2017 950 690 260 18,913 15,570 3,343 Other 4,998 sq ft Minot Southgate Wells Fargo Bank - Minot, ND May 15, 2017 3,440 3,332 108 90,260 sq ft Lexington Commerce Center - Eagan, MN August 22, 2017 9,000 3,963 5,037 17,640 sq ft Duckwood Medical - Eagan, MN August 24, 2017 2,100 1,886 214 279,834 sq ft Edgewood Vista Hermantown I & II - Hermantown, MN October 19, 2017 36,884 24,697 12,187 518,161 sq ft Urbandale - Urbandale, IA November 22, 2017 16,700 12,857 3,843 36,053 sq ft 3075 Long Lake Road - Roseville, MN November 28, 2017 18,650 12,766 5,884 1,205,432 sq ft 25 Healthcare properties (3)(4) December 29, 2017 370,268 232,778 137,490 43,404 sq ft Garden View - St. Paul, MN January 19, 2018 14,000 6,191 7,809 52,116 sq ft Ritchie Medical - St. Paul, MN January 19, 2018 16,500 10,419 6,081 22,187 sq ft Bismarck 715 East Broadway and Unimproved Land - Bismarck, ND March 7, 2018 5,500 3,215 2,285 493,042 312,104 180,938 Unimproved Land Bismarck 4916 Unimproved Land - Bismarck, ND August 8, 2017 3,175 3,188 (13 ) Total Dispositions $ 515,130 $ 330,862 $ 184,268 (1) These communities include: 4th Street 4 Plex, 11th Street 3 Plex, Apartments on Main, Brooklyn Heights, Colton Heights, Fairmont, First Avenue (Apartments and Office), Pines, Southview, Summit Park, Temple (includes 17 South Main Retail), Terrace Heights, and Westridge. (2) $626,000 of the gain on sale was deferred. See Note 2 for additional information on the related mortgage note receivable. (3) The properties included: 2800 Medical, 2828 Chicago Avenue, Airport Medical, Billings 2300 Grand Road, Burnsville 303 Nicollet Medical, Burnsville 305 Nicollet Medical, Duluth Denfeld Clinic, Edina 6363 France Medical, Edina 6405 France Medical, Edina 6517 Drew Avenue, Edina 6225 France SMC II, Edina 6545 France SMC I, Gateway Clinic, High Pointe Health Campus, Lakeside Medical Plaza, Mariner Clinic, Minneapolis 701 25th Avenue Medical, Missoula 3050 Great Northern, Park Dental, Pavilion I, Pavilion II, PrairieCare Medical, St. Michael Clinic, Trinity at Plaza 16 and Wells Clinic. (4) Sale price includes $2.5 million that was deposited into escrow pending the resolution of certain post-closing items. As of April 30, 2018 these items had not yet been resolved. Fiscal 2017 ( May 1, 2016 to April 30, 2017 ) (in thousands) Date Book Value Dispositions Disposed Sales Price and Sales Cost Gain/(Loss) Multifamily 24 homes Pinecone Villas - Sartell, MN April 20, 2017 $ 3,540 $ 2,732 $ 808 Healthcare 189,244 sq ft 9 Idaho Spring Creek Senior Housing Properties (1) October 31, 2016 43,900 37,397 6,503 426,652 sq ft 5 Edgewood Vista Senior Housing Properties (2) January 18, 2017 69,928 50,393 19,535 286,854 sq ft 5 Wyoming Senior Housing Properties (3) February 1, 2017 49,600 45,469 4,131 169,001 sq ft 9 Edgewood Vista Senior Housing Properties (4) February 15, 2017 30,700 24,081 6,619 169,562 sq ft 4 Edgewood Vista Senior Housing Properties (5) March 1, 2017 35,348 14,511 20,837 114,316 sq ft Healtheast St. John & Woodwinds - Maplewood & Woodbury MN March 6, 2017 20,700 13,777 6,923 59,760 sq ft Sartell 2000 23rd Street South - Sartell, MN March 31, 2017 5,600 5,923 (323 ) 98,174 sq ft Legends at Heritage Place - Sartell, MN April 20, 2017 9,960 11,439 (1,479 ) 265,736 202,990 62,746 Other 195,075 sq ft Stone Container - Fargo, ND July 25, 2016 13,400 4,418 8,982 28,528 sq ft Grand Forks Carmike - Grand Forks, ND December 29, 2016 4,000 1,563 2,437 17,400 5,981 11,419 Unimproved Land Georgetown Square Unimproved Land - Grand Chute, WI May 6, 2016 250 274 (24 ) Total Property Dispositions $ 286,926 $ 211,977 $ 74,949 (1) The properties included in this portfolio disposition are: Spring Creek American Falls, Spring Creek Boise, Spring Creek Eagle, Spring Creek Fruitland, Spring Creek Fruitland Unimproved, Spring Creek Meridian, Spring Creek Overland, Spring Creek Soda Springs and Spring Creek Ustick . (2) The properties included in this portfolio disposition are: Edgewood Vista Bismarck, Edgewood Vista Brainerd, Edgewood Vista East Grand Forks, Edgewood Vista Fargo, and Edgewood Vista Spearfish. (3) The properties included in this portfolio disposition are: Casper 1930 E 12th Street (Park Place), Casper 3955 E 12th Street (Meadow Wind), Cheyenne 4010 N College Drive (Aspen Wind), Cheyenne 4606 N College Drive (Sierra Hills) and Laramie 1072 N 22nd Street (Spring Wind). (4) The properties included in this portfolio disposition are: Edgewood Vista Belgrade, Edgewood Vista Billings, Edgewood Vista Columbus, Edgewood Vista Fremont, Edgewood Vista Grand Island, Edgewood Vista Minot, Edgewood Vista Missoula, Edgewood Vista Norfolk and Edgewood Vista Sioux Falls. (5) The properties included in this portfolio are: Edgewood Vista Hastings, Edgewood Vista Kalispell, Edgewood Vista Omaha and Edgewood Vista Virginia.

OPERATING SEGMENT

OPERATING SEGMENT	12 Months Ended
	Apr. 30, 2018
Segment Reporting [Abstract]
OPERATING SEGMENT	OPERATING SEGMENT We operate in a single reportable segment which includes the ownership, management, development, redevelopment, and acquisition of apartment communities. Each of our operating properties is considered a separate operating segment because each property earns revenues, incurs expenses, and has discrete financial information. Our chief operating decision-makers evaluate each property's operating results to make decisions about resources to be allocated and to assess performance. We do not group our operations based on geography, size, or type. Our apartment communities have similar long-term economic characteristics and provide similar products and services to our tenants. No apartment community comprises more than 10% of consolidated revenues, profits, or assets. Accordingly, our apartment communities are aggregated into a single reportable segment. Prior to the third quarter of fiscal year 2018, we reported our results in two reportable segments: multifamily and healthcare. We sold substantially all of our healthcare portfolio during the third quarter of fiscal year 2018 and classified it as discontinued operations (see Note 10 for additional information). Healthcare no longer meets the quantitative thresholds for reporting as a separate reportable segment and is included in "all other" with other non-multifamily properties. Our executive management team comprises our chief operating decision-makers. This team measures the performance of our reportable segment based on net operating income (“NOI”), which we define as total real estate revenues less property operating expenses and real estate tax expense combined (referred to as "real estate expenses"). We believe that NOI is an important supplemental measure of operating performance for a REIT’s operating real estate because it provides a measure of operations that is unaffected by depreciation, amortization, financing, and general and administrative expense. NOI does not represent cash generated by operating activities in accordance with GAAP and should not be considered an alternative to net income, net income available for common shareholders, or cash flow from operating activities as a measure of financial performance. The following tables present real estate revenues, real estate expenses, and net operating income for the fiscal years ended April 30, 2018 , 2017 , and 2016 from our reportable segment and reconcile net operating income to net income as reported in the consolidated financial statements. Segment assets are also reconciled to total assets as reported in the consolidated financial statements. (in thousands) Year ended April 30, 2018 Multifamily All Other Total Real estate revenue $ 159,983 $ 9,762 $ 169,745 Real estate expenses 70,460 2,574 73,034 Net operating income $ 89,523 $ 7,188 $ 96,711 Property management expenses (5,526 ) Casualty loss (500 ) Depreciation and amortization (82,070 ) Impairment of real estate investments (18,065 ) General and administrative expenses (14,203 ) Acquisition and investment related costs (51 ) Interest expense (34,178 ) Loss on debt extinguishment (940 ) Interest and other income 1,508 Loss before gain on sale of real estate and other investments and income from discontinued operations (57,314 ) Gain on sale of real estate and other investments 20,120 Loss from continuing operations (37,194 ) Income from discontinued operations 164,823 Net income $ 127,629 (in thousands) Year ended April 30, 2017 Multifamily All Other Total Real estate revenue $ 142,214 $ 17,890 $ 160,104 Real estate expenses 60,895 3,431 64,326 Net operating income $ 81,319 $ 14,459 $ 95,778 Property management expenses (5,046 ) Casualty loss (414 ) Depreciation and amortization (44,253 ) Impairment of real estate investments (57,028 ) General and administrative expenses (15,871 ) Acquisition and investment related costs (3,276 ) Interest expense (34,314 ) Loss on debt extinguishment (1,651 ) Interest and other income 1,146 Loss before gain on sale of real estate and other investments (64,929 ) Gain on sale of real estate and other investments 18,701 Loss from continuing operations (46,228 ) Income from discontinued operations 76,753 Net income $ 30,525 (in thousands) Year ended April 30, 2016 Multifamily All Other Total Real estate revenue $ 129,049 $ 16,451 $ 145,500 Real estate expenses 54,762 3,386 58,148 Net operating income $ 74,287 $ 13,065 $ 87,352 Property management expenses (3,714 ) Casualty loss (238 ) Depreciation and amortization (39,273 ) Impairment of real estate investments (5,543 ) General and administrative expenses (13,498 ) Acquisition and investment related costs (830 ) Interest expense (28,417 ) Loss on debt extinguishment (106 ) Interest and other income 385 Loss before loss on sale of real estate and other investments and loss from discontinued operations (3,882 ) Gain on sale of real estate and other investments 9,640 Gain on bargain purchase 3,424 Income from continuing operations 9,182 Income from discontinued operations 67,420 Net income $ 76,602 Segment Assets and Accumulated Depreciation (in thousands) As at April 30, 2018 Multifamily All Other Total Segment assets Property owned $ 1,606,421 $ 63,343 $ 1,669,764 Less accumulated depreciation (294,477 ) (16,847 ) (311,324 ) Total property owned $ 1,311,944 $ 46,496 $ 1,358,440 Cash and cash equivalents 11,891 Restricted cash 4,225 Other assets 30,297 Unimproved land 11,476 Mortgage loans receivable 10,329 Total Assets $ 1,426,658 (in thousands) As at April 30, 2017 Multifamily All Other Total Segment assets Property owned $ 1,260,541 $ 97,988 $ 1,358,529 Less accumulated depreciation (232,592 ) (23,007 ) (255,599 ) Total property owned $ 1,027,949 $ 74,981 $ 1,102,930 Assets held for sale and assets from discontinued operations 283,023 Cash and cash equivalents 28,819 Restricted cash 27,981 Other assets 13,306 Unimproved land $ 18,455 Total Assets $ 1,474,514

DISCONTINUED OPERATIONS

DISCONTINUED OPERATIONS	12 Months Ended
	Apr. 30, 2018
Discontinued Operations and Disposal Groups [Abstract]
DISCONTINUED OPERATIONS	DISCONTINUED OPERATIONS We report in discontinued operations the results of operations and the related gains or losses on the sales of properties that have either been disposed of or classified as held for sale and meet the classification of a discontinued operation as described in ASC 205 - Presentation of Financial Statements and ASC 360 - Property, Plant, and Equipment: Reporting Discontinued Operations and Disclosures of Disposals of Components of an Entity. Under this standard, a disposal (or classification as held for sale) of a component of an entity or a group of components of an entity is required to be reported in discontinued operations if the disposal represents a strategic shift that has (or will have) a major effect on an entity’s operations and financial results. We determined that our strategic decision to exit our healthcare segment met the criteria for discontinued operations, and we consequently classified 27 property dispositions as discontinued operations during the fiscal year ended April 30, 2018 . We classified no dispositions as discontinued operations during the fiscal year ended April 30, 2017 . During the fiscal year ended April 30, 2016 , we determined that our strategic plan to exit the office and retail segments met the criteria for discontinued operations. Accordingly, 48 office properties, 17 retail properties and 1 healthcare property were classified as discontinued operations and subsequently sold during the fiscal year ended April 30, 2016 . In fiscal year 2016, we determined that our strategic decision to exit senior housing, which was a subset of our healthcare segment, met the criteria for discontinued operations and we classified 34 senior housing properties as held for sale and discontinued operations at April 30, 2016 . Thirty-two of these senior housing properties were subsequently sold during the fiscal year ended April 30, 2017 . The following information shows the effect on net income and the gains or losses from the sale of properties classified as discontinued operations for the fiscal years ended April 30, 2018 , 2017 , and 2016 . (in thousands) Year Ended April 30, 2018 2017 2016 REVENUE Real estate rentals $ 19,744 $ 43,984 $ 69,623 Tenant reimbursement 11,650 16,110 23,434 TRS senior housing revenue — 3,218 3,955 TOTAL REVENUE 31,394 63,312 97,012 EXPENSES Property operating expenses, excluding real estate taxes 6,350 9,051 17,470 Real estate taxes 5,191 6,848 11,611 Property management expense 206 574 1,957 Depreciation and amortization 8,445 10,772 24,725 Impairment of real estate investments — — 440 TRS senior housing expenses — 3,113 3,366 TOTAL EXPENSES 20,192 30,358 59,569 Operating income 11,202 32,954 37,443 Interest expense (1) (4,172 ) (11,628 ) (25,757 ) Gain (loss) on extinguishment of debt (1) (6,508 ) (3,238 ) 29,336 Interest income 661 2,179 2,179 Other income 73 340 437 Income from discontinued operations before gain on sale 1,256 20,607 43,638 Gain on sale of discontinued operations 163,567 56,146 23,782 INCOME FROM DISCONTINUED OPERATIONS $ 164,823 $ 76,753 $ 67,420 Segment Data All other $ 164,823 $ 76,753 $ 67,420 Total $ 164,823 $ 76,753 $ 67,420 (1) Interest expense includes $4.7 million for the fiscal year ended April 30, 2016 , of default interest related to a $ 122.6 million non-recourse loan. Gain on extinguishment of debt in the fiscal year ended April 30, 2016 includes $36.5 million of gain on extinguishment of debt recognized in connection with our transfer of ownership to the mortgage lender of the nine properties serving as collateral for the $122.6 million non-recourse loan and the removal of the debt obligation and accrued interest from our balance sheet. (in thousands) 2018 2017 2016 Property Sale Data Sales price $ 437,652 $ 239,436 $ 373,460 Net book value and sales costs (274,085 ) (183,290 ) (349,678 ) Gain on sale of discontinued operations $ 163,567 $ 56,146 $ 23,782 As of April 30, 2018, we had no assets or liabilities classified as held for sale. The following information reconciles the carrying amounts of major classes of assets and liabilities of the discontinued operations to assets and liabilities held for sale that are presented separately on the Consolidated Balance Sheets: April 30, 2017 Carrying amounts of major classes of assets included as part of discontinued operations Property owned and intangible assets, net of accumulated depreciation and amortization $ 255,466 Restricted cash 728 Other Assets 12,750 Total major classes of assets of the discontinued operations 268,944 Other assets included in the disposal group classified as held for sale 14,079 Total assets of the disposal group classified as held for sale on the balance sheet $ 283,023 Carrying amounts of major classes of liabilities included as part of discontinued operations Accounts payable and accrued expenses $ 4,835 Mortgages payable 112,208 Other 7,977 Total major classes of liabilities of the discontinued operations 125,020 Other liabilities included in the disposal group classified as held for sale 5,884 Total liabilities of the disposal group classified as held for sale on the balance sheet $ 130,904

EARNINGS PER SHARE

EARNINGS PER SHARE	12 Months Ended
	Apr. 30, 2018
Earnings Per Share [Abstract]
EARNINGS PER SHARE	EARNINGS PER SHARE Basic earnings per share is computed by dividing net income available to common shareholders by the weighted average number of common shares outstanding during the period. We have no outstanding options, warrants, convertible stock or other contractual obligations requiring issuance of additional common shares that would result in a dilution of earnings. Pursuant to the exercise of Exchange Rights, Units may be tendered for redemption for cash or, at our option, for common shares on a one-for-one-basis . The following table presents a reconciliation of the numerator and denominator used to calculate basic and diluted earnings per share reported in the consolidated financial statements for the fiscal years ended April 30, 2018 , 2017 and 2016 : For Year Ended April 30, (in thousands, except per share data) 2018 2017 2016 NUMERATOR Income (loss) from continuing operations – Investors Real Estate Trust $ (30,266 ) $ (24,473 ) $ 11,553 Income from discontinued operations – Investors Real Estate Trust 147,054 67,820 60,453 Net income attributable to Investors Real Estate Trust 116,788 43,347 72,006 Dividends to preferred shareholders (8,569 ) (10,546 ) (11,514 ) Redemption of preferred shares (3,657 ) (1,435 ) — Numerator for basic earnings per share – net income available to common shareholders 104,562 31,366 60,492 Noncontrolling interests – Operating Partnership 12,702 4,059 7,032 Numerator for diluted earnings per share $ 117,264 $ 35,425 $ 67,524 DENOMINATOR Denominator for basic earnings per share weighted average shares 119,977 121,169 123,094 Effect of redeemable operating partnership units 14,617 16,130 14,278 Denominator for diluted earnings per share 134,594 137,299 137,372 Earnings (loss) per common share from continuing operations – Investors Real Estate Trust – basic and diluted $ (0.36 ) $ (0.30 ) $ — Earnings per common share from discontinued operations – Investors Real Estate Trust – basic and diluted 1.23 0.56 0.49 NET INCOME PER COMMON SHARE – BASIC & DILUTED $ 0.87 $ 0.26 $ 0.49

RETIREMENT PLANS

RETIREMENT PLANS	12 Months Ended
	Apr. 30, 2018
Retirement Benefits [Abstract]
RETIREMENT PLANS	RETIREMENT PLANS We sponsor a defined contribution 401(k) plan to provide retirement benefits for employees that meet minimum employment criteria. We currently match, dollar for dollar, employee contributions to the 401(k) plan in an amount equal to up to 5.0% of the eligible wages of each participating employee. 401(k) matching contributions are fully vested when made. We recognized expense of approximately $838,000 , $565,000 and $836,000 in fiscal years 2018 , 2017 , and 2016 , respectively. The expense increased from fiscal year 2017 to fiscal year 2018 primarily due to an increase of 1% in the employer match contribution. The expense decreased from fiscal year 2016 to fiscal year 2017 because fiscal year 2016 included a 3.5% discretionary employer contribution.

COMMITMENTS AND CONTINGENCIES

COMMITMENTS AND CONTINGENCIES	12 Months Ended
	Apr. 30, 2018
Commitments and Contingencies Disclosure [Abstract]
COMMITMENTS AND CONTINGENCIES	COMMITMENTS AND CONTINGENCIES Legal Proceedings . We are involved in various lawsuits arising in the normal course of business. We believe that such matters will not have a material adverse effect on our consolidated financial statements. Environmental Matters . It is generally our policy to obtain a Phase I environmental assessment of each property that we seek to acquire. Such assessments have not revealed, nor are we aware of, any environmental liabilities that we believe would have a material adverse effect on our financial position or results of operations. We own properties that contain or potentially contain (based on the age of the property) asbestos or lead, or have underground fuel storage tanks. For certain of these properties, we estimated the fair value of the conditional asset retirement obligation and chose not to book a liability because the amounts involved were immaterial. With respect to certain other properties, we have not recorded any related asset retirement obligation as the fair value of the liability cannot be reasonably estimated due to insufficient information. We believe we do not have sufficient information to estimate the fair value of the asset retirement obligations for these properties because a settlement date or range of potential settlement dates has not been specified by others and, additionally, there are currently no plans or expectation of plans to demolish these properties or to undertake major renovations that would require removal of the asbestos, lead and/or underground storage tanks. These properties are expected to be maintained by repairs and maintenance activities that would not involve the removal of the asbestos, lead and/or underground storage tanks. Also, a need for renovations caused by tenant changes, technology changes or other factors has not been identified. Insurance. We carry insurance coverage on our properties in amounts and types that we believe are customarily obtained by owners of similar properties and are sufficient to achieve our risk management objectives. Restrictions on Taxable Dispositions. Approximately 26 of our properties, consisting of approximately 4,266 apartment homes, are subject to restrictions on taxable dispositions under agreements entered into with some of the sellers or contributors of the properties. The real estate investment amount of these properties, net of accumulated depreciation, was approximately $558.6 million at April 30, 2018 . The restrictions on taxable dispositions are effective for varying periods. We do not believe that the agreements materially affect the conduct of our business or our decisions whether to dispose of restricted properties during the restriction period because we generally hold these and our other properties for investment purposes rather than for sale. In addition, where we deem it to be in our shareholders’ best interests to dispose of such properties, we generally seek to structure sales of such properties as tax deferred transactions under Section 1031 of the Internal Revenue Code. Otherwise, we may be required to provide tax indemnification payments to the parties to these agreements. Distribution Requirements for Taxable Gains. In order to avoid income tax liability on capital gains, we are required to distribute 100% of net taxable gains to our shareholders. We executed a tax deferred Section 1031 transaction on December 29, 2017. The window to complete the exchange expires on June 27, 2018, which will leave approximately $30 million of taxable capital gains undeferred in fiscal year 2019. We are evaluating strategies to reduce or eliminate any adverse effects of triggering this taxable gain. Redemption Value of Units . Pursuant to a Unitholder’s exercise of its Exchange Rights, we have the right, in our sole discretion, to acquire such Units by either making a cash payment or acquiring the Units for our common shares, on a one -for-one basis. All Units receive the same per Unit cash distributions as the per share dividends paid on common shares. Units are redeemable for an amount of cash per Unit equal to the average of the daily market price of our common shares for the ten consecutive trading days immediately preceding the date of valuation of the Unit. As of April 30, 2018 and 2017 , the aggregate redemption value of the then-outstanding Units owned by limited partners, as determined by the ten -day average market price for our common shares, was approximately $74.7 million and $95.1 million , respectively. Joint Venture Buy/Sell Options. Several of our joint venture agreements contain buy/sell options in which each party under certain circumstances has the option to acquire the interest of the other party, but do not generally require that we buy our partners’ interests. However, from time to time, we have entered into joint venture agreements which contain options compelling us to acquire the interest of the other parties. We currently have one such joint venture, which owns Commons and Landing at Southgate in Minot, North Dakota, in which our joint venture partner can, for the four -year period from February 6, 2016 through February 5, 2020, compel us to acquire the partner’s interest for a price to be determined in accordance with the provisions of the joint venture agreement. The joint venture partner’s interest is reflected as a redeemable noncontrolling interest on the Consolidated Balance Sheets.

FAIR VALUE MEASUREMENTS

FAIR VALUE MEASUREMENTS	12 Months Ended
	Apr. 30, 2018
Fair Value Disclosures [Abstract]
FAIR VALUE MEASUREMENTS	FAIR VALUE MEASUREMENTS Cash and cash equivalents, restricted cash, accounts payable, accrued expenses, and other liabilities are carried at amounts that reasonably approximate their fair value due to their short-term nature. For variable rate debt that re-prices frequently, fair values are based on carrying values. The fair values of our financial instruments approximate their carrying amount in the consolidated financial statements except for fixed rate debt. In determining the fair value of other financial instruments, we apply Financial Accounting Standard Board ASC 820, Fair Value Measurement and Disclosures , or ASC 820. ASC 820 defines fair value, establishes a framework for measuring fair value, and expands disclosures about fair value measurements. Fair value hierarchy under ASC 820 distinguishes between market participant assumptions based on market data obtained from sources independent of the reporting entity (Levels 1 and 2) and the reporting entity’s own assumptions about market participant assumptions (Level 3). Fair value estimates may differ from the amounts that may ultimately be realized upon sale or disposition of the assets and liabilities. Fair Value Measurements on a Recurring Basis During the fiscal year ended April 30, 2018 , we entered into an interest rate swap to manage our interest rate risk. The fair value of our interest rate swap is determined using the market standard methodology of netting discounted expected variable cash payments and receipts. The variable cash payments and receipts are based on an expectation of future interest rates (a forward curve) derived from observable market interest rate curves. We consider both our own nonperformance risk and the counterparty's nonperformance risk in the fair value measurement. The fair value of the derivative by its level in the fair value hierarchy is as follows: (in thousands) Balance Sheet Location Total Level 1 Level 2 Level 3 April 30, 2018 Derivative instrument - interest rate swap Other Assets $ 1,779 $ — $ 1,779 $ — Fair Value Measurements on a Nonrecurring Basis Non-financial assets measured at fair value on a nonrecurring basis at April 30, 2018 , consisted of real estate investments and at April 30, 2017, consisted of real estate investments and real estate held for sale that were written-down to estimated fair value during fiscal year 2018 and 2017 , respectively. 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 April 30, 2018 Real estate investments valued at fair value $ 52,145 $ — $ — $ 52,145 April 30, 2017 Real estate investments valued at fair value $ 506 $ — $ — $ 506 Real estate held for sale (1) 10,891 — — 10,891 (1) Represents only the portion of real estate held for sale at April 30, 2017 that was written down to estimated fair value. As of April 30, 2018 , we estimated the fair value of our real estate investments using appraisals, a market offer to purchase, market comparisons, and other market data. As of April 30, 2017 , we estimated fair value on a group of our properties using projected net operating income and an estimated capitalization rate to estimate fair value. Significant unobservable quantitative inputs used in determining the fair value of each investment includes capitalization rates based on the location, type, and nature of each property and current and anticipated market conditions. Significant unobservable quantitative inputs used in determining the fair value of these real estate investments at April 30, 2017 , was a capitalization rate of 7.0% . Financial Assets and Liabilities Not Measured at Fair Value The fair value of fixed rate loans is estimated based on the discounted cash flows of the loans using relevant treasury interest rates plus credit spreads (Level 2). For mortgages payable, the fair value of fixed rate loans is estimated based on the discounted cash flows of the loans using market research and management estimates of comparable interest rates (Level 3). The estimated fair values of our financial instruments as of April 30, 2018 and 2017 are as follows: (in thousands) 2018 2017 Amount Fair Value Amount Fair Value FINANCIAL ASSETS Cash and cash equivalents $ 11,891 $ 11,891 $ 28,819 $ 28,819 FINANCIAL LIABILITIES Other debt, including other debt related to assets held for sale — — 49,637 49,637 Revolving line of credit 124,000 124,000 57,050 57,050 Term loan (1) 70,000 — — Mortgages payable (2) 509,919 510,803 665,440 680,941 Mortgages payable related to assets held for sale — — 21,803 21,861 (1) Excluding the effect of the interest rate swap agreement. (2) Includes mortgages payable related to assets held for sale and assets of discontinued operations at April 30, 2017.

SHAREHOLDERS_ EQUITY

SHAREHOLDERS’ EQUITY	12 Months Ended
	Apr. 30, 2018
Equity [Abstract]
SHAREHOLDERS' EQUITY	SHAREHOLDERS’ EQUITY Operating Partnership Units. Outstanding Units in the Operating Partnership were 14.1 million Units at April 30, 2018 and 15.6 million Units at April 30, 2017 . Exchange Rights. Pursuant to the exercise of Exchange Rights, during fiscal year 2018 , we redeemed approximately 1.5 million Units for an aggregate cost of $8.8 million at an average price per Unit of $5.89 . In fiscal year 2017 , we redeemed approximately 165,000 Units for an aggregate cost of $966,000 at an average price per Unit of $5.84 . During fiscal year 2017 , 503,000 Units were redeemed in exchange for common shares in connection with Unitholders exercising their Exchange Rights, with a total book value of $875,000 included in equity. Common Shares and Equity Awards . Common Shares outstanding on April 30, 2018 and 2017 , totaled 119.5 million and 121.2 million , respectively. During fiscal years 2018 and 2017 , we issued approximately 93,000 and 604,000 Common Shares, respectively, with a total grant-date value of $536,000 and $2.6 million , respectively, under our 2015 Incentive Award Plan, for executive officer and trustee share-based compensation for future performance. During fiscal year 2017, we also issued approximately 59,000 Common Shares, with a total grant-date value of approximately $352,000 , under our 2008 Incentive Award Plan, for trustee share based compensation for fiscal year 2016 performance. During fiscal year 2018 and 2017, approximately 32,000 and 274,000 common shares were forfeited under the 2015 Incentive Award Plan, respectively. Share Repurchase Program . On December 7, 2016, our Board of Trustees authorized a share repurchase program to repurchase up to 50 million of our Common Shares over a one year period. On December 5, 2017, our Board of Trustees reauthorized this share repurchase program for an additional one year period. Under this program, we may repurchase Common Shares in open-market purchases, including pursuant to Rule 10b5-1 and Rule 10b-18 plans, as determined by management and in accordance with the requirements of the SEC. The extent to which we repurchase our shares, and the timing of such repurchases, will depend upon a variety of factors, including market conditions, regulatory requirements and other corporate considerations, as determined by the executive management team. The program may be suspended or discontinued at any time. During fiscal year 2018, we repurchased and retired approximately 1.8 million common shares for an aggregate cost of $9.9 million , including commissions, at an average price per share of $5.56 , excluding commissions. During fiscal year 2017, we repurchased and retired approximately 778,000 common shares for an aggregate cost of $4.5 million , including commissions, at an average price per share of $5.77 . Issuance of Preferred Shares and Redemption of Series B Preferred Shares . In the year ended April 30, 2018, we issued 4,118,460 shares of our 6.625% Series C Cumulative Redeemable Preferred Shares and redeemed all 4,600,000 shares of our 7.95% Series B Cumulative Redeemable Preferred Shares. In the year ended April 30, 2017, we completed the redemption of all of the outstanding 8.25% Series A Cumulative Redeemable Preferred Shares (“Preferred A Shares”) for an aggregate redemption price of $29.2 million , and such shares are no longer outstanding as of such date.

QUARTERLY RESULTS OF CONSOLIDAT

QUARTERLY RESULTS OF CONSOLIDATED OPERATIONS (unaudited)	12 Months Ended
	Apr. 30, 2018
Selected Quarterly Financial Information [Abstract]
QUARTERLY RESULTS OF CONSOLIDATED OPERATIONS (unaudited)	QUARTERLY RESULTS OF CONSOLIDATED OPERATIONS (unaudited) (in thousands, except per share data) QUARTER ENDED July 31, 2017 October 31, 2017 January 31, 2018 April 30, 2018 Revenues $ 40,978 $ 41,866 $ 42,716 $ 44,185 Net income (loss) attributable to Investors Real Estate Trust $ (11,264 ) $ 12,821 $ 136,105 $ (20,874 ) Net income (loss) available to common shareholders $ (13,550 ) $ 6,360 $ 134,331 $ (22,579 ) Net income (loss) per common share - basic & diluted $ (0.11 ) $ 0.05 $ 1.12 $ (0.19 ) (in thousands, except per share data) QUARTER ENDED July 31, 2016 October 31, 2016 January 31, 2017 April 30, 2017 Revenues $ 38,301 $ 39,195 $ 39,797 $ 42,811 Net income (loss) attributable to Investors Real Estate Trust $ (21,643 ) $ 11,600 $ 23,110 $ 30,280 Net income (loss) available to common shareholders $ (24,522 ) $ 8,722 $ 19,172 $ 27,994 Net income (loss) per common share - basic & diluted $ (0.20 ) $ 0.07 $ 0.16 $ 0.23 The above financial information is unaudited. In the opinion of management, all adjustments (which are of a normal recurring nature) have been included for a fair presentation.

SHARE BASED COMPENSATION

SHARE BASED COMPENSATION	12 Months Ended
	Apr. 30, 2018
Disclosure of Compensation Related Costs, Share-based Payments [Abstract]
SHARE BASED COMPENSATION	SHARE BASED COMPENSATION Share based awards are provided to officers, non-officer employees, and trustees under our 2015 Incentive Plan approved by shareholders on September 15, 2015, which allows for awards in the form of cash, unrestricted, and restricted Common Shares, and RSUs up to an aggregate of 4,250,000 shares over the ten -year period in which the plan will be in effect. Under our 2015 Incentive Plan, officers and non-officer employees may earn share awards under a long-term incentive plan, which is a forward-looking program that measures long-term performance over the stated performance period. These awards are payable to the extent deemed earned in shares. The terms of the long-term incentive awards granted under the program may vary from year to year. Through April 30, 2018, awards under the 2015 Incentive Plan consisted of restricted and unrestricted Common Shares and RSUs. Fiscal Year 2018 LTIP Awards Awards granted on May 1, 2017, consist of 16,447 time-based restricted shares that vest as to one-third of the shares on each of May 1, 2018, May 1, 2019, and May 1, 2020. We recognize compensation expense associated with the time-based awards ratably over the requisite service periods. Awards granted on June 21, 2017 consist of time-based awards, performance awards based on total shareholder return ("TSR"), and performance awards based on leverage ratio, each for 57,693 RSUs. All of these awards are classified as equity awards. The time-based RSUs vest as to one-third of the shares on each June 21, 2018, May 1, 2019, and May 1, 2020. The maximum number of leverage ratio RSUs eligible to be earned is 115,386 RSUs. The TSR performance RSU awards are earned based on our TSR as compared to the MSCI US REIT Index over a forward looking three -year period. The maximum number of RSUs eligible to be earned is 115,386 RSUs. Earned awards (if any) will fully vest as of the last day of the measurement period. These awards have market conditions in addition to service conditions that must be met for the awards to vest. We recognize compensation expense ratably based on the grant date fair value, as determined using the Monte Carlo valuation model, regardless whether the market conditions are achieved and the awards ultimately vest. Therefore, previously recorded compensation expense is not adjusted in the event that the market conditions are not achieved. We based the expected volatility on the historical volatility of our daily closing share price, the risk-free interest rate on the interest rates on U.S. treasury bonds with a maturity equal to the remaining performance period of the award, and the expected term on the performance period of the award. The assumptions used to value the TSR performance RSU awards were an expected volatility of 27.3% , a risk-free interest rate of 1.48% and an expected life of 2.86 years . The share price at the grant date, June 21, 2017, was $6.15 per share. The leverage ratio based performance RSU awards are earned based on achievement of a stated leverage ratio at the end of the measurement period. Earned awards (if any) will fully vest as of the last day of the measurement period. Total Compensation Expense Total share based compensation expense recognized in the consolidated financial statements for the three years ended April 30, 2018 , for all share-based awards was as follows (in thousands): Year Ended April 30, 2018 2017 2016 Share based compensation expense $ 1,587 $ 6 $ 2,256 Share based compensation expense varied due to forfeitures during the fiscal year ended April 30, 2017, and fewer outstanding awards during the fiscal year ended April 30, 2018 . Restricted Share Awards with Service Conditions The activity for the three years ended April 30, 2018 , related to our time-based restricted share awards was as follows. Wtd Avg Grant- Shares Date Fair Value Unvested at April 30, 2015 107,536 $ 7.17 Vested (107,536 ) 7.17 Unvested at April 30, 2016 — Granted 253,263 6.16 Vested (21,308 ) 5.95 Forfeited (36,817 ) 6.24 Unvested at April 30, 2017 195,138 Granted 91,364 5.75 Vested (185,431 ) 5.99 Forfeited (2,019 ) 6.24 Unvested at April 30, 2018 99,052 6.12 The total fair value of time-based share grants vested during the fiscal years ended April 30, 2018 , 2017 and 2016 was $1.1 million , $127,000 and $647,000 . As of April 30, 2018 , the total compensation cost related to non-vested time-based share awards not yet recognized was $252,000 , which we expect to recognize over a weighted average period of 1.1 years . During the fiscal year ended April 30, 2018 , we issued 69,941 time-based RSUs, including those issued on June 21, 2017. These RSUs generally vest over a three year period. The fair value of the time-based RSUs during the year ended April 30, 2018 was $423,000 . The total compensation cost related to non-vested time-based RSUs not yet recognized is $206,000 , which we expect to recognize over a weighted average period of 0.5 years. Restricted Share Awards with Market Conditions Share-based awards and RSUs with market conditions were granted under the LTIP during fiscal year 2018 with a fair market value, as determined using a Monte Carlo simulation, of $818,000 . The unamortized value of awards and RSUs with market conditions as of April 30, 2018 and 2017 , was approximately $577,000 and $300,000 , respectively. Trustee Awards Awards granted on May 1, 2017 and on March 13, 2018 consist of restricted shares that vested April 30, 2018 and unrestricted shares which vested immediately. The fair value of share awards at grant date for non-management trustees was approximately $389,000 , $365,000 , and $352,000 for each of the fiscal years ending April 30, 2018 , 2017 , and 2016 , respectively.

SCHEDULE III - REAL ESTATE AND

SCHEDULE III - REAL ESTATE AND ACCUMULATED DEPRECIATION	12 Months Ended
	Apr. 30, 2018
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate and Accumulated Depreciation Disclosure [Abstract]
SCHEDULE III - REAL ESTATE AND ACCUMULATED DEPRECIATION	Schedule III - REAL ESTATE AND ACCUMULATED DEPRECIATION (in thousands) Gross amount at which carried at Life on which Initial Cost to Company close of period depreciation in Costs capitalized Date of latest income Buildings & subsequent to Buildings & Accumulated Construction statement is Description Encumbrances (1) Land Improvements acquisition Land Improvements Total Depreciation or Acquisition computed Multifamily 71 France - Edina, MN $ 56,000 $ 4,721 $ 61,762 $ 62 $ 4,721 $ 61,824 $ 66,545 $ (5,731 ) 2016 30-37 years Alps Park - Rapid City, SD 3,618 287 5,551 356 333 5,861 6,194 (898 ) 2013 30-37 years Arbors - S Sioux City, NE 3,562 350 6,625 2,375 1,048 8,302 9,350 (2,966 ) 2006 30-37 years Arcata - Golden Valley, MN — 2,088 31,036 98 2,089 31,133 33,222 (4,177 ) 2015 30-37 years Ashland - Grand Forks, ND 5,193 741 7,569 268 795 7,783 8,578 (1,492 ) 2012 30-37 years Avalon Cove - Rochester, MN — 1,616 34,074 275 1,629 34,336 35,965 (2,354 ) 2016 30-37 years Boulder Court - Eagan, MN — 1,067 5,498 3,003 1,503 8,065 9,568 (3,290 ) 2003 30-37 years Brookfield Village - Topeka, KS 4,920 509 6,698 1,885 874 8,218 9,092 (3,144 ) 2003 30-37 years Canyon Lake - Rapid City, SD 2,677 305 3,958 2,130 397 5,996 6,393 (2,555 ) 2001 30-37 years Cardinal Point - Grand Forks, ND — 1,600 33,400 — 1,600 33,400 35,000 — 2013 30-37 years Cascade Shores - Rochester, MN 11,400 1,585 16,710 66 1,586 16,775 18,361 (1,196 ) 2016 30-37 years Castlerock - Billings, MT 6,222 736 4,864 2,359 1,022 6,937 7,959 (3,587 ) 1998 30-37 years Chateau I & II - Minot, ND — 301 20,058 880 322 20,917 21,239 (3,216 ) 2013 30-37 years Cimarron Hills - Omaha, NE 4,470 706 9,588 4,700 1,494 13,500 14,994 (6,287 ) 2001 30-37 years Colonial Villa - Burnsville, MN — 2,401 11,515 9,090 2,906 20,100 23,006 (8,380 ) 2003 30-37 years Colony - Lincoln, NE 12,453 1,515 15,730 1,428 1,708 16,965 18,673 (3,197 ) 2012 30-37 years Commons and Landing at Southgate - Minot, ND 26,094 5,945 47,512 1,136 6,268 48,325 54,593 (7,026 ) 2015 30-37 years Cottage West Twin Homes - Sioux Falls, SD 3,387 968 3,762 597 1,072 4,255 5,327 (813 ) 2011 30-37 years Cottonwood - Bismarck, ND 14,848 1,056 17,372 5,411 1,597 22,242 23,839 (9,318 ) 1997 30-37 years Country Meadows - Billings, MT 6,161 491 7,809 1,736 569 9,467 10,036 (4,834 ) 1995 30-37 years Crestview - Bismarck, ND 3,576 235 4,290 2,206 600 6,131 6,731 (3,737 ) 1994 30-37 years Crown Colony - Topeka, KS 7,614 620 9,956 3,742 1,148 13,170 14,318 (6,016 ) 1999 30-37 years Crystal Bay - Rochester, MN — 433 11,425 224 436 11,646 12,082 (780 ) 2016 30-37 years Cypress Court - St. Cloud, MN 12,400 1,583 18,879 222 1,607 19,077 20,684 (2,857 ) 2012 30-37 years Dakota Commons - Williston, ND — 823 3,210 24 823 3,234 4,057 (169 ) 2015 30-37 years Deer Ridge - Jamestown, ND 11,201 711 24,129 175 733 24,282 25,015 (2,642 ) 2013 30-37 years Dylan - Denver, CO — 12,155 77,216 158 12,155 77,374 89,529 (1,184 ) 2017 30-37 years Evergreen - Isanti, MN 1,874 1,129 5,524 364 1,141 5,876 7,017 (1,361 ) 2008 30-37 years Forest Park - Grand Forks, ND 7,119 810 5,579 8,203 1,459 13,133 14,592 (7,370 ) 1993 24-37 years French Creek - Rochester, MN — 201 4,735 146 207 4,875 5,082 (313 ) 2016 30-37 years Gables Townhomes - Sioux Falls, SD 1,371 349 1,921 237 397 2,110 2,507 (396 ) 2011 30-37 years Gardens - Grand Forks, ND — 518 8,702 109 528 8,801 9,329 (770 ) 2015 30-37 years Grand Gateway - St. Cloud, MN — 814 7,086 1,860 941 8,819 9,760 (2,003 ) 2012 30-37 years GrandeVille at Cascade Lake - Rochester, MN 36,000 5,003 50,363 1,551 5,065 51,852 56,917 (4,343 ) 2015 30-37 years Greenfield - Omaha, NE — 578 4,122 1,314 868 5,146 6,014 (1,604 ) 2007 30-37 years Heritage Manor - Rochester, MN 3,375 403 6,968 3,227 666 9,932 10,598 (4,886 ) 1998 30-37 years Homestead Garden - Rapid City, SD 2,957 655 14,139 514 713 14,595 15,308 (1,772 ) 2015 30-37 years Indian Hills - Sioux City, IA — 294 2,921 4,362 461 7,116 7,577 (2,103 ) 2007 30-37 years Kirkwood Manor - Bismarck, ND 3,083 449 2,725 1,832 610 4,396 5,006 (2,299 ) 1997 12-37 years Lakeside Village - Lincoln, NE 12,307 1,215 15,837 1,011 1,315 16,748 18,063 (3,075 ) 2012 30-37 years INVESTORS REAL ESTATE TRUST AND SUBSIDIARIES April 30, 2018 Schedule III - REAL ESTATE AND ACCUMULATED DEPRECIATION (in thousands) Gross amount at which carried at Life on which Initial Cost to Company close of period depreciation in Costs capitalized Date of latest income Buildings & subsequent to Buildings & Accumulated Construction statement is Description Encumbrances (1) Land Improvements acquisition Land Improvements Total Depreciation or Acquisition computed Landmark - Grand Forks, ND — 184 1,514 1,175 356 2,517 2,873 (1,379 ) 1997 30-37 years Legacy - Grand Forks, ND 14,327 1,362 21,727 10,396 2,257 31,228 33,485 (13,904 ) 1995-2005 24-37 years Legacy Heights - Bismarck, ND — 1,207 13,742 384 1,288 14,045 15,333 (1,237 ) 2015 30-37 years Mariposa - Topeka, KS 2,756 399 5,110 934 453 5,990 6,443 (2,038 ) 2004 30-37 years Meadows - Jamestown, ND — 590 4,519 1,922 707 6,324 7,031 (2,842 ) 1998 30-37 years Monticello Crossings - Monticello, MN — 1,734 30,131 32 1,734 30,163 31,897 (1,742 ) 2017 30-37 years Monticello Village - Monticello, MN — 490 3,756 1,053 637 4,662 5,299 (1,743 ) 2004 30-37 years North Pointe - Bismarck, ND 3,216 303 3,957 1,290 376 5,174 5,550 (2,083 ) 1995-2011 24-37 years Northridge - Bismarck, ND — 884 7,515 183 970 7,612 8,582 (841 ) 2015 30-37 years Oakmont Estates - Sioux Falls, SD — 422 4,838 1,361 705 5,916 6,621 (2,438 ) 2002 30-37 years Oakwood Estates - Sioux Falls, SD — 543 2,784 4,741 868 7,200 8,068 (5,004 ) 1993 30-37 years Olympic Village - Billings, MT 9,933 1,164 10,441 3,818 1,824 13,599 15,423 (6,454 ) 2000 30-37 years Olympik Village - Rochester, MN 3,991 1,034 6,109 2,597 1,271 8,469 9,740 (2,992 ) 2005 30-37 years Oxbo - St Paul, MN — 5,809 51,586 66 5,809 51,652 57,461 (1,759 ) 2017 30-37 years Oxbow Park - Sioux Falls, SD — 404 3,152 3,707 990 6,273 7,263 (4,227 ) 1994 24-37 years Park Meadows - Waite Park, MN 8,041 1,143 9,099 9,686 2,025 17,903 19,928 (8,722 ) 1997 30-37 years Park Place - Plymouth, MN — 10,609 80,781 1,967 10,609 82,748 93,357 (1,819 ) 2017 30-37 years Pebble Springs - Bismarck, ND — 7 748 228 63 920 983 (459 ) 1999 30-37 years Pinehurst - Billings, MT — 72 687 458 168 1,049 1,217 (434 ) 2002 30-37 years Plaza - Minot, ND 4,915 867 12,784 2,864 998 15,517 16,515 (3,958 ) 2009 30-37 years Pointe West - Rapid City, SD 2,438 240 3,538 2,022 410 5,390 5,800 (3,032 ) 1994 24-37 years Ponds at Heritage Place - Sartell, MN — 395 4,564 441 410 4,990 5,400 (919 ) 2012 30-37 years Prairie Winds - Sioux Falls, SD 1,315 144 1,816 732 309 2,383 2,692 (1,509 ) 1993 24-37 years Quarry Ridge - Rochester, MN 25,662 2,254 30,024 2,058 2,406 31,930 34,336 (7,649 ) 2006 30-37 years Red 20 - Minneapolis, MN 22,518 1,900 24,116 41 1,908 24,149 26,057 (3,361 ) 2015 30-37 years Regency Park Estates - St. Cloud, MN 7,976 702 10,198 2,356 1,019 12,237 13,256 (2,637 ) 2011 30-37 years Renaissance Heights - Williston, ND 22,739 3,080 15,389 265 3,117 15,617 18,734 (826 ) 2013 30-37 years Ridge Oaks - Sioux City, IA 3,175 178 4,073 2,921 307 6,865 7,172 (2,999 ) 2001 30-37 years Rimrock West - Billings, MT 3,092 330 3,489 2,018 516 5,321 5,837 (2,425 ) 1999 30-37 years River Ridge - Bismarck, ND — 576 24,670 870 779 25,337 26,116 (4,492 ) 2008 30-37 years Rocky Meadows - Billings, MT 4,795 656 5,726 1,531 802 7,111 7,913 (3,849 ) 1995 30-37 years Rum River - Isanti, MN 3,294 843 4,823 391 864 5,193 6,057 (1,543 ) 2007 30-37 years Sherwood - Topeka, KS 11,439 1,142 14,684 5,036 1,996 18,866 20,862 (8,743 ) 1999 30-37 years Sierra Vista - Sioux Falls, SD — 241 2,097 581 283 2,636 2,919 (571 ) 2011 30-37 years Silver Springs - Rapid City, SD 2,116 215 3,007 639 256 3,605 3,861 (448 ) 2015 30-37 years South Pointe - Minot, ND 8,018 550 9,548 5,208 1,372 13,934 15,306 (7,460 ) 1995 24-37 years Southpoint - Grand Forks, ND — 576 9,893 166 633 10,002 10,635 (1,302 ) 2013 30-37 years Southwind - Grand Forks, ND 5,125 400 5,034 3,553 825 8,162 8,987 (4,680 ) 1995 24-37 years Sunset Trail - Rochester, MN 7,581 336 12,814 3,239 720 15,669 16,389 (7,108 ) 1999 30-37 years Thomasbrook - Lincoln, NE 5,574 600 10,306 5,139 1,642 14,403 16,045 (6,178 ) 1999 30-37 years Valley Park - Grand Forks, ND 3,607 294 4,137 3,950 1,193 7,188 8,381 (3,719 ) 1999 30-37 years Villa West - Topeka, KS 11,523 1,590 15,760 1,664 2,226 16,788 19,014 (3,177 ) 2012 30-37 years Village Green - Rochester, MN — 234 2,296 1,047 359 3,218 3,577 (1,281 ) 2003 30-37 years Westend - Denver, CO — 25,525 102,180 — 25,525 102,180 127,705 (501 ) 2018 30-37 years INVESTORS REAL ESTATE TRUST AND SUBSIDIARIES April 30, 2018 Schedule III - REAL ESTATE AND ACCUMULATED DEPRECIATION (in thousands) Gross amount at which carried at Life on which Initial Cost to Company close of period depreciation in Costs capitalized Date of latest income Buildings & subsequent to Buildings & Accumulated Construction statement is Description Encumbrances (1) Land Improvements acquisition Land Improvements Total Depreciation or Acquisition computed West Stonehill - Waite Park, MN $ 7,865 $ 939 $ 10,167 $ 7,593 $ 1,810 $ 16,889 $ 18,699 $ (9,013 ) 1995 30-37 years Westwood Park - Bismarck, ND 1,841 116 1,909 2,043 292 3,776 4,068 (1,987 ) 1998 30-37 years Whispering Ridge - Omaha, NE 20,844 2,139 25,424 1,542 2,418 26,687 29,105 (4,407 ) 2012 30-37 years Williston Garden - Williston, ND 6,283 1,400 10,200 336 1,445 10,491 11,936 (576 ) 2012 30-37 years Winchester - Rochester, MN — 748 5,622 2,516 1,044 7,842 8,886 (3,206 ) 2003 30-37 years Woodridge - Rochester, MN 5,737 370 6,028 3,089 750 8,737 9,487 (4,663 ) 1997 30-37 years Total Multifamily $ 505,618 $ 135,906 $ 1,289,330 $ 181,185 $ 157,150 $ 1,449,271 $ 1,606,421 $ (294,477 ) Gross amount at which carried at Life on which Initial Cost to Company close of period depreciation in Costs capitalized Date of latest income Buildings & subsequent to Buildings & Accumulated Construction statement is Description Encumbrances (1) Land Improvements acquisition Land Improvements Total Depreciation or Acquisition computed Other - Mixed Use 71 France - Edina, MN $ — $ — $ 5,879 $ 774 $ — $ 6,653 $ 6,653 $ (397 ) 2016 30-37 years Oxbo - St Paul, MN — — 3,471 54 — 3,525 3,525 (113 ) 2017 30-37 years Plaza - Minot, ND 6,522 389 5,444 3,764 598 8,999 9,597 (3,226 ) 2009 30-37 years Red 20 - Minneapolis, MN — — 2,525 355 — 2,880 2,880 (310 ) 2015 30-37 years Total Other - Mixed Use $ 6,522 $ 389 $ 17,319 $ 4,947 $ 598 $ 22,057 $ 22,655 $ (4,046 ) Other - Commercial Bloomington 2000 W 94th Street - Bloomington, MN $ — $ 2,133 $ 1,864 $ — $ 2,133 $ 1,864 $ 3,997 $ — 2006 30-37 years Dakota West Plaza - Minot , ND — 92 493 30 106 509 615 (173 ) 2006 30-37 years Fresenius - Duluth, MN — 50 1,520 2 50 1,522 1,572 (547 ) 2004 30-37 years Minot 1400 31st Ave - Minot, ND — 1,026 6,143 4,422 1,038 10,553 11,591 (5,334 ) 2010 30-37 years Minot 2505 16th Street SW - Minot, ND — 298 1,724 296 298 2,020 2,318 (544 ) 2009 30-37 years Minot Arrowhead - Minot, ND — 100 3,216 5,586 176 8,726 8,902 (3,191 ) 1973 30-37 years Minot IPS - Minot, ND — 416 5,952 — 416 5,952 6,368 (3,012 ) 2012 30-37 years Minot Southgate Retail - Minot, ND — 889 1,036 — 889 1,036 1,925 — 2015 30-37 years Woodbury 1865 Woodlane - Woodbury, MN — 1,108 2,292 — 1,108 2,292 3,400 — 2007 30-37 years Total Other - Commercial $ — $ 6,112 $ 24,240 $ 10,336 $ 6,214 $ 34,474 $ 40,688 $ (12,801 ) Subtotal $ 512,140 $ 142,407 $ 1,330,889 $ 196,468 $ 163,962 $ 1,505,802 $ 1,669,764 $ (311,324 ) INVESTORS REAL ESTATE TRUST AND SUBSIDIARIES April 30, 2018 Schedule III - REAL ESTATE AND ACCUMULATED DEPRECIATION (in thousands) Gross amount at which carried at Initial Cost to Company close of period Costs capitalized Date of Buildings & subsequent to Buildings & Accumulated Construction Description Encumbrances (1) Land Improvements acquisition Land Improvements Total Depreciation or Acquisition Unimproved Land Badger Hills - Rochester, MN $ — $ 1,050 $ — $ 354 $ 1,404 $ — $ 1,404 $ — 2012 Creekside Crossing - Bismarck, ND — 3,577 — 693 4,270 — 4,270 — 2015 Grand Forks - Grand Forks, ND — 2,798 — 2 2,800 — 2,800 — 2012 Minot 1525 24th Ave SW - Minot, ND — 506 — — 506 — 506 — 2015 Rapid City Unimproved- Rapid City, SD — 1,376 — — 1,376 — 1,376 — 2014 Renaissance Heights - Williston, ND — 750 — — 750 — 750 — 2012 Weston - Weston, WI — 370 — — 370 — 370 — 2006 Total Unimproved Land — $ 10,427 $ — $ 1,049 $ 11,476 — $ 11,476 $ — Total $ 512,140 $ 152,834 $ 1,330,889 $ 197,517 $ 175,438 $ 1,505,802 $ 1,681,240 $ (311,324 ) (1) Amounts in this column are the mortgages payable balance as of April 30, 2018. These amounts do not include amounts owing under the Company's multi-bank line of credit or term loan. Reconciliations of the carrying value of total property owned for the three years ended April 30, 2018 , 2017 , and 2016 are as follows: (in thousands) 2018 2017 2016 Balance at beginning of year $ 1,358,529 $ 1,369,893 $ 1,090,362 Additions during year Multifamily and Other 369,332 61,565 285,080 Improvements and Other 15,065 34,761 31,007 1,742,926 1,466,219 1,406,449 Deductions during year Cost of real estate sold (46,001 ) (21,601 ) (1,305 ) Impairment charge (15,192 ) (51,401 ) — Write down of asset and accumulated depreciation on impaired assets (8,597 ) (7,144 ) — Properties classified as held for sale during the year — (24,156 ) (26,373 ) Other (1) (3,372 ) (3,388 ) (8,878 ) Balance at close of year $ 1,669,764 $ 1,358,529 $ 1,369,893 INVESTORS REAL ESTATE TRUST AND SUBSIDIARIES April 30, 2018 Schedule III - REAL ESTATE AND ACCUMULATED DEPRECIATION (in thousands) Reconciliations of accumulated depreciation/amortization for the three years ended April 30, 2018 , 2017 , and 2016 , are as follows: (in thousands) 2018 2017 2016 Balance at beginning of year $ 255,599 $ 237,859 $ 212,826 Additions during year Provisions for depreciation 78,785 42,960 37,846 Deductions during year Accumulated depreciation on real estate sold or classified as held for sale (11,033 ) (14,687 ) (9,957 ) Write down of asset and accumulated depreciation on impaired assets (8,597 ) (7,144 ) — Other (1) (3,430 ) (3,389 ) (2,856 ) Balance at close of year $ 311,324 $ 255,599 $ 237,859 Reconciliations of development in progress for the three years ended April 30, 2018 , 2017 , and 2016 , are as follows: (in thousands) 2018 2017 2016 Balance at beginning of year $ — $ 51,681 $ 153,994 Additions during year Unimproved land moved to development in progress — — 1,734 Improvements and other — 7,762 48,109 Deductions during year Development placed in service (2) — (59,443 ) (152,156 ) Balance at close of year $ — $ — $ 51,681 INVESTORS REAL ESTATE TRUST AND SUBSIDIARIES April 30, 2018 Schedule III - REAL ESTATE AND ACCUMULATED DEPRECIATION (in thousands) Reconciliations of unimproved land for the three years ended April 30, 2018 , 2017 , and 2016 are as follows: (in thousands) 2018 2017 2016 Balance at beginning of year $ 18,455 $ 20,939 $ 25,827 Additions during year Improvements and other — 1,024 205 Deductions during year Cost of real estate sold (1,000 ) — (442 ) Impairment charge (2,617 ) (3,508 ) (1,285 ) Properties classified as held for sale during the year (3,288 ) — (1,632 ) Unimproved land moved to development in progress — — (1,734 ) Other (1) (74 ) — — Balance at close of year 11,476 18,455 20,939 Total real estate investments, excluding mortgage notes receivable (3) $ 1,369,916 $ 1,121,385 $ 1,204,654 (1) Consists of miscellaneous disposed assets. (2) Includes development projects that are placed in service in phases. (3) The net basis, including held for sale properties, for Federal Income Tax purposes was $1.5 billion , $1.4 billion and $1.6 billion at April 30, 2018 , 2017 and 2016 , respectively.

BASIS OF PRESENTATION AND SIG27

BASIS OF PRESENTATION AND SIGNIFICANT ACCOUNTING POLICIES (Policies)	12 Months Ended
	Apr. 30, 2018
Accounting Policies [Abstract]
BASIS OF PRESENTATION	The consolidated financial statements also reflect the ownership by the Operating Partnership of certain joint venture entities in which the Operating Partnership has a general partner's or controlling interest. These entities are consolidated into our other operations with noncontrolling interests reflecting the noncontrolling partners’ share of ownership, income, and expenses. BASIS OF PRESENTATION The accompanying consolidated financial statements include our accounts and the accounts of all our subsidiaries in which we maintain a controlling interest, including the Operating Partnership. All intercompany balances and transactions are eliminated in consolidation. Our fiscal year ends April 30th.
USE OF ESTIMATES	USE OF ESTIMATES The preparation of financial statements in conformity with GAAP requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities and disclosure of contingent assets and liabilities at the date of the financial statements and the reported amounts of revenues and expenses during the reporting period. Actual results could differ from those estimates.
RECENT ACCOUNTING PRONOUNCEMENTS	RECENT ACCOUNTING PRONOUNCEMENTS The following table provides a brief description of recent GAAP accounting standards updates (“ASUs”). Standard Description Date of Adoption Effect on the Financial Statements or Other Significant Matters ASU 2014-09, Revenue from Contracts with Customers This ASU will eliminate the transaction- and industry-specific revenue recognition guidance under current GAAP and replace it with a principle based approach for determining revenue recognition. The standard outlines a five-step model whereby revenue is recognized as performance obligations within a contract are satisfied. This ASU is effective for annual reporting periods beginning after December 15, 2017, as a result of a deferral of the effective date arising from the issuance of ASU 2015-14, Revenue from Contracts with Customers - Deferral of the Effective Date . Early adoption is permitted. We will adopt the new standard effective May 1, 2018 using the modified retrospective approach. The majority of our revenue is derived from rental income, which is scoped out from this standard and will be accounted for under ASC 840, Leases . Our other revenue streams were evaluated under this ASU and we determined the new standard will not have a material impact on our consolidated financial statements. ASU 2016-02, Leases This ASU amends existing accounting standards for lease accounting, including by requiring lessees to recognize most leases on the balance sheet and making certain changes to lessor accounting. This ASU is effective for annual reporting periods beginning after December 15, 2018. Early adoption is permitted. We do not anticipate significant changes in the timing of income from our leases with residents. However, in certain circumstances where we are a lessee, primarily in leases for office space, we will be required to recognize right of use assets and related lease liabilities on our consolidated balance sheets. We do not anticipate the adoption of this standard will have a material impact on our financial condition or results of operations. We are in the process of determining the amount of the right of use assets and related lease liabilities that will be recognized upon adoption. ASU 2016-09, Improvements to Employee Share-Based Payment Accounting This ASU amends several aspects of the accounting for share-based payment transactions, including the income tax consequences, accrual of compensation cost, classification of awards as either equity or liabilities, and classification on the statement of cash flows. This ASU is effective for annual reporting periods beginning after December 15, 2016. We adopted this guidance effective May 1, 2017. Upon adoption of the standard, we elected to account for forfeitures when they occur instead of estimating the forfeitures. The new standard did not have a material effect on our financial position, results of operations or earnings per share. ASU 2016-15, Classification of Certain Cash Receipts and Cash Payments This ASU addresses eight specific cash flow issues with the objective of reducing diversity in practice. The cash flow issues include debt prepayment or debt extinguishment costs and proceeds from the settlement of insurance claims. This ASU is effective for fiscal years beginning after December 15, 2017, and interim periods within those fiscal years. Early adoption is permitted. This guidance is effective May 1, 2018. Payments related to debt prepayment or debt extinguishment costs are required to be classified within financing activities. While overall cash flows will not change, there will be changes between cash flow classifications due primarily to the debt prepayment penalties incurred in comparative periods. ASU 2017-01, Clarifying the Definition of a Business This ASU clarifies the definition of a business and provides further guidance for evaluating whether a transaction will be accounted for as an acquisition of an asset or a business. This new standard is required to be applied prospectively to transactions occurring after the date of adoption. This ASU is effective for annual periods beginning after December 15, 2017, including interim periods within those annual periods. Early adoption is permitted. We adopted this standard effective May 1, 2017. We believe that most of our future acquisitions of operating properties will qualify as asset acquisitions and most future transaction costs associated with these acquisitions will be capitalized. Adoption of the standard did not have a material effect on our financial position or results of operations. During the fiscal year ended April 30, 2018, acquisition costs totaling $411,536 were capitalized and allocated to the assets acquired based on the relative fair market value of those underlying assets. Standard Description Date of Adoption Effect on the Financial Statements or Other Significant Matters ASU 2017-05, Other Income – Gains and Losses from the Derecognition of Nonfinancial Assets (Subtopic 610-20): Clarifying the Scope of Asset Derecognition Guidance and Accounting for Partial Sales of Nonfinancial Assets This ASU clarifies the definition of an in-substance nonfinancial asset and changes the accounting for partial sales of nonfinancial assets to be more consistent with the accounting for a sale of a business pursuant to ASU 2017-01. This ASU allows for either a retrospective or modified retrospective approach. This ASU is effective for annual reporting periods beginning after December 15, 2017, including interim reporting periods within that reporting period. Early adoption is permitted. This standard allows for either a retrospective or modified retrospective approach. We are currently evaluating the impact this standard may have on our consolidated financial statements and related disclosures upon adoption. ASU 2017-12, Derivatives and Hedging (Topic 815): Targeted Improvements to Accounting for Hedging Activities This ASU clarifies hedge accounting requirements, improves disclosure of hedging arrangements, and better aligns risk management activities and financial reporting for hedging relationships. This ASU is effective for annual periods beginning after December 15, 2018, and interim periods within those annual periods. Early adoption is permitted. We adopted ASU 2017-12 on November 1, 2017. Adoption of the new standard did not have a material effect on our financial position or results of operations. See Note 6 for additional information.
RECLASSIFICATIONS	RECLASSIFICATIONS Certain previously reported amounts have been reclassified to conform to the current financial statement presentation, these reclassifications had no impact on net income as reported in the consolidated statement of operations, total assets, liabilities or equity as reported in the consolidated balance sheets and total shareholder’s equity. We report in discontinued operations the results of operations and the related gains or losses of properties that have either been disposed or classified as held for sale and for which the disposition represents a strategic shift that has or will have a major effect on our operations and financial results. As the result of discontinued operations, retroactive reclassifications that change prior period numbers have been made.
REAL ESTATE INVESTMENTS	REAL ESTATE INVESTMENTS Real estate investments are recorded at cost less accumulated depreciation and an adjustment for impairment, if any. Property, consisting primarily of real estate investments, totaled $1.4 billion and $1.1 billion as of April 30, 2018 and 2017 , respectively. We allocate the purchase price based on the relative fair values of the tangible and intangible assets of an acquired property (which includes the land, building, and personal property) which are determined by valuing the property as if it were vacant and fair value of the intangible assets (which include in-place leases.) The as-if-vacant value is allocated to land, buildings and personal property based on management’s determination of the relative fair values of these assets. The estimated fair value of the property is the amount that would be recoverable upon the disposition of the property. Techniques used to estimate fair value include discounted cash flow analysis and reference to recent sales of comparables. A land value is assigned based on the purchase price if land is acquired separately or based on estimated fair value if acquired in a single or portfolio acquisition. Acquired above- and below-market lease values are recorded as the difference between the contractual amounts to be paid pursuant to the in-place leases and management’s estimate of fair market value lease rates for the corresponding in-place leases. The capitalized above- and below-market lease values are amortized as adjustments to rental revenue over the remaining terms of the respective leases, which includes fixed rate renewal options for below-market leases if it is determined probable the tenant will execute a bargain renewal option. Other intangible assets acquired include amounts for in-place lease values that are based upon our evaluation of the specific characteristics of the leases. Factors considered in the fair value analysis include an estimate of carrying costs and foregone rental income during hypothetical expected lease-up periods, considering current market conditions, and costs to execute similar leases. We also consider information about each property obtained during pre-acquisition due diligence, marketing, and leasing activities in estimating the relative fair value of the tangible and intangible assets acquired. Depreciation is computed on a straight-line basis over the estimated useful lives of the assets. We use a 10 - 37 year estimated life for buildings and improvements and a 5 - 10 year estimated life for furniture, fixtures, and equipment. We follow the real estate project costs guidance in ASC 970, Real Estate – General, in accounting for the costs of development and redevelopment projects. As real estate is undergoing development or redevelopment, all project costs directly associated with and attributable to the development and construction of a project, including interest expense and real estate tax expense, are capitalized to the cost of the real property. The capitalization period begins when development activities and expenditures begin and are identifiable to a specific property and ends upon completion, which is when the asset is ready for its intended use. Generally, rental property is considered substantially complete and ready for its intended use, which is generally upon issuance of a certificate of occupancy (in the case of apartment communities). General and administrative costs are expensed as incurred. Interest of approximately $4,000 , $431,000 , and $4.9 million has been capitalized in continuing and discontinue operations for the years ended April 30, 2018 , 2017 , and 2016 , respectively. Expenditures for ordinary maintenance and repairs are expensed to operations as incurred. Renovations and improvements that improve and/or extend the useful life of the asset are capitalized and depreciated over their estimated useful life, generally five to ten years. Property sales or dispositions are recorded when title transfers, we have received sufficient consideration, and we have no significant continuing involvement with the property sold. We periodically evaluate our long-lived assets, including real estate investments, for impairment indicators. The judgments regarding the existence of impairment indicators are based on factors such as operational performance, market conditions, expected holding period of each asset group, and legal and environmental concerns. If indicators exist, we compare the expected future undiscounted cash flows for the long-lived asset group against the carrying amount of that asset. If the sum of the estimated undiscounted cash flows is less than the carrying amount of the asset, an impairment loss is recorded for the difference between the estimated fair value and the carrying amount of the asset group. If our anticipated holding period for properties, the estimated fair value of properties or other factors change based on market conditions or otherwise, our evaluation of impairment charges may be different and such differences could be material to our consolidated financial statements. The evaluation of anticipated cash flows is subjective and is based, in part, on assumptions regarding future occupancy, rental rates, and capital requirements that could differ materially from actual results. Plans to hold properties over longer periods decrease the likelihood of recording impairment losses.
REAL ESTATE HELD FOR SALE	REAL ESTATE HELD FOR SALE Real estate held for sale is stated at the lower of its carrying amount or estimated fair value less disposal costs. Our determination of fair value is based on inputs management believes are consistent with those that market participants would use. Estimates are significantly impacted by estimates of sales price, selling velocity, and other factors. Due to uncertainties in the estimation process, actual results could differ from such estimates. Depreciation is not recorded on assets classified as held for sale. We classify properties as held for sale when they meet the GAAP criteria, which include: (a) management commits to and initiates a plan to sell the asset (disposal group), (b) the sale is probable and expected to be completed within one year under terms that are usual and customary for sales of such assets (disposal groups), and (c) actions required to complete the plan indicate that it is unlikely that significant changes to the plan will be made or that the plan will be withdrawn. We generally consider these criteria met when the transaction has been approved by our Board of Trustees, there are no known significant contingencies related to the sale and management believes it is probable that the sale will be completed within one year . We had no properties classified as held for sale at April 30, 2018 . Thirteen apartment communities, two healthcare properties, and two retail properties were classified as held for sale at April 30, 2017 . We report in discontinued operations the results of operations and the related gains or losses on the sales of properties that have either been disposed of or classified as held for sale and meet the classification of a discontinued operation as described in ASC 205 - Presentation of Financial Statements and ASC 360 - Property, Plant, and Equipment: Reporting Discontinued Operations and Disclosures of Disposals of Components of an Entity . Under this standard, a disposal (or classification as held for sale) of a component of an entity or a group of components of an entity is required to be reported in discontinued operations if the disposal represents a strategic shift that has (or will have) a major effect on an entity’s operations and financial results.
PROPERTY AND EQUIPMENT	PROPERTY AND EQUIPMENT Property and equipment consists primarily of office equipment contained at our headquarters in Minot, North Dakota, corporate offices in Minneapolis and St. Cloud, Minnesota, and additional property management offices located in the states where we own properties. The Consolidated Balance Sheets reflects these assets at cost, net of accumulated depreciation and are included within Other Assets. CHANGE IN DEPRECIABLE LIVES OF REAL ESTATE ASSETS We review the estimated useful lives of our real estate assets on an ongoing basis. Prior to our strategic shift to become a multifamily-focused REIT, which began in fiscal year 2016, we operated in five segments (office, retail, industrial, healthcare and multifamily). Accordingly, our estimated useful lives represented a blend of these segments.
CASH AND CASH EQUIVALENTS	CASH AND CASH EQUIVALENTS Cash and cash equivalents include all cash and highly liquid investments purchased with maturities of three months or less. Cash and cash equivalents consist of our bank deposits, short-term investment certificates acquired subject to repurchase agreements, and our deposits in a money market mutual fund. We are potentially exposed to credit risk for cash deposited with FDIC-insured financial institutions in accounts which, at times, may exceed federally insured limits. We have not experienced any losses in such accounts.
RESTRICED CASH	RESTRICTED CASH As of April 30, 2018 and 2017 , restricted cash consisted of $4.2 million and $4.3 million , respectively, of escrows held by lenders for real estate taxes, insurance, and capital additions. As of April 30, 2017, we held $23.7 million of net tax-deferred exchange proceeds remaining from the sale of properties. Tax, insurance, and other escrows include funds deposited with a lender for payment of real estate taxes and insurance and reserves for funds to be used for replacement of structural elements and mechanical equipment of certain projects. The funds are under the control of the lender. Disbursements are made after supplying written documentation to the lender
INCOME TAXES	INCOME TAXES We operate in a manner intended to enable us to continue to qualify as a REIT under Sections 856-860 of the Internal Revenue Code of 1986, as amended. Under those sections, a REIT which distributes at least 90% of its REIT taxable income, excluding capital gains, as a dividend to its shareholders each year and which meets certain other conditions will not be taxed on that portion of its taxable income which is distributed to shareholders. For the fiscal years ended April 30, 2018 , 2017 , and 2016 , we distributed in excess of 90% of our taxable income and realized capital gains from property dispositions within the prescribed time limits. Accordingly, no provision has been made for federal income taxes in the accompanying consolidated financial statements. If we fail to qualify as a REIT in any taxable year, we will be subject to federal income tax on our taxable income at regular corporate rates (including any alternative minimum tax) and may not be able to qualify as a REIT for the four subsequent taxable years. Even as a REIT, we may be subject to certain state and local income and property taxes, and to federal income and excise taxes on undistributed taxable income. In general, however, if we qualify as a REIT, no provisions for federal income taxes are necessary except for taxes on undistributed REIT taxable income and taxes on the income generated by a taxable REIT subsidiary (TRS). We have one TRS, acquired during the second quarter of fiscal year 2014, which is subject to corporate federal and state income taxes on its taxable income at regular statutory rates. For the fiscal year ended April 30, 2018 , we estimate that the TRS will have no taxable income. There were no income tax provisions or material deferred income tax items for our TRS for the fiscal years ended April 30, 2018 , 2017 , and 2016 . We conduct our business activity as an Umbrella Partnership Real Estate Investment Trust (“UPREIT”) through our Operating Partnership. UPREIT status allows us to accept the contribution of real estate in exchange for Units. Generally, such a contribution to a limited partnership allows for the deferral of gain by an owner of appreciated real estate.
REVENUE RECOGNITION	REVENUE RECOGNITION The Company primarily leases apartment homes under operating leases with terms generally of one year or less. Rental revenue is recognized on the straight-line basis, which averages minimum required rents over the terms of the leases. Rental income represents gross market rent less adjustments for concessions, vacancy loss, and bad debt. Rents recognized in advance of collection are reflected as receivable arising from straight-lining of rents, net of allowance for doubtful accounts. Rent concessions, including free rent, are amortized on a straight-line basis over the terms of the related leases.
PROCEEDS FROM FINANCING LIABILITY	PROCEEDS FROM FINANCING LIABILITY During the first quarter of fiscal year 2014, we sold a senior housing property in exchange for $7.9 million in cash and a $29.0 million contract for deed which matures August 1, 2018. The buyer leased the property back to us, and also granted us an option to repurchase the property at a specified price at or prior to July 31, 2018. We accounted for the transaction as a financing due to our continuing involvement with the property and recorded the $7.9 million in sales proceeds within liabilities held for sale and liabilities from discontinued operations on the Consolidated Balance Sheets.
VARIABLE INTEREST ENTITY	VARIABLE INTEREST ENTITY As discussed in the Recent Accounting Pronouncements section, effective May 1, 2016, we adopted the guidance in ASU 2015-02. As a result, the Operating Partnership and each of our less-than-wholly owned real estate partnerships have been deemed to have the characteristics of a variable interest entity (“VIE”). However, we were not required to consolidate any previously unconsolidated entities or deconsolidate any previously consolidated entities as a result of the change in classification. Accordingly, there has been no change to the recognized amounts in our consolidated balance sheets and statements of operations or amounts reported in our consolidated statements of cash flows. We determined that an additional six consolidated partnerships, including the Operating Partnership, are VIEs under the new standard because the limited partners are not able to exercise substantive kick-out or participating rights. We are the VIEs primary beneficiary and the partnerships are required to be consolidated on our balance sheet because we have a controlling financial interest in the VIEs and have both the power to direct the activities of the VIEs that most significantly impact the VIE’s economic performance as well as the obligation to absorb losses or the right to receive benefits from the VIEs that could potentially be significant to the VIEs. Because the Operating Partnership is a VIE, all of our assets and liabilities are held through a VIE.

BASIS OF PRESENTATION AND SIG28

BASIS OF PRESENTATION AND SIGNIFICANT ACCOUNTING POLICIES (Tables)	12 Months Ended
	Apr. 30, 2018
Accounting Policies [Abstract]
Schedule of Recent Accounting Standards Updates	The following table provides a brief description of recent GAAP accounting standards updates (“ASUs”). Standard Description Date of Adoption Effect on the Financial Statements or Other Significant Matters ASU 2014-09, Revenue from Contracts with Customers This ASU will eliminate the transaction- and industry-specific revenue recognition guidance under current GAAP and replace it with a principle based approach for determining revenue recognition. The standard outlines a five-step model whereby revenue is recognized as performance obligations within a contract are satisfied. This ASU is effective for annual reporting periods beginning after December 15, 2017, as a result of a deferral of the effective date arising from the issuance of ASU 2015-14, Revenue from Contracts with Customers - Deferral of the Effective Date . Early adoption is permitted. We will adopt the new standard effective May 1, 2018 using the modified retrospective approach. The majority of our revenue is derived from rental income, which is scoped out from this standard and will be accounted for under ASC 840, Leases . Our other revenue streams were evaluated under this ASU and we determined the new standard will not have a material impact on our consolidated financial statements. ASU 2016-02, Leases This ASU amends existing accounting standards for lease accounting, including by requiring lessees to recognize most leases on the balance sheet and making certain changes to lessor accounting. This ASU is effective for annual reporting periods beginning after December 15, 2018. Early adoption is permitted. We do not anticipate significant changes in the timing of income from our leases with residents. However, in certain circumstances where we are a lessee, primarily in leases for office space, we will be required to recognize right of use assets and related lease liabilities on our consolidated balance sheets. We do not anticipate the adoption of this standard will have a material impact on our financial condition or results of operations. We are in the process of determining the amount of the right of use assets and related lease liabilities that will be recognized upon adoption. ASU 2016-09, Improvements to Employee Share-Based Payment Accounting This ASU amends several aspects of the accounting for share-based payment transactions, including the income tax consequences, accrual of compensation cost, classification of awards as either equity or liabilities, and classification on the statement of cash flows. This ASU is effective for annual reporting periods beginning after December 15, 2016. We adopted this guidance effective May 1, 2017. Upon adoption of the standard, we elected to account for forfeitures when they occur instead of estimating the forfeitures. The new standard did not have a material effect on our financial position, results of operations or earnings per share. ASU 2016-15, Classification of Certain Cash Receipts and Cash Payments This ASU addresses eight specific cash flow issues with the objective of reducing diversity in practice. The cash flow issues include debt prepayment or debt extinguishment costs and proceeds from the settlement of insurance claims. This ASU is effective for fiscal years beginning after December 15, 2017, and interim periods within those fiscal years. Early adoption is permitted. This guidance is effective May 1, 2018. Payments related to debt prepayment or debt extinguishment costs are required to be classified within financing activities. While overall cash flows will not change, there will be changes between cash flow classifications due primarily to the debt prepayment penalties incurred in comparative periods. ASU 2017-01, Clarifying the Definition of a Business This ASU clarifies the definition of a business and provides further guidance for evaluating whether a transaction will be accounted for as an acquisition of an asset or a business. This new standard is required to be applied prospectively to transactions occurring after the date of adoption. This ASU is effective for annual periods beginning after December 15, 2017, including interim periods within those annual periods. Early adoption is permitted. We adopted this standard effective May 1, 2017. We believe that most of our future acquisitions of operating properties will qualify as asset acquisitions and most future transaction costs associated with these acquisitions will be capitalized. Adoption of the standard did not have a material effect on our financial position or results of operations. During the fiscal year ended April 30, 2018, acquisition costs totaling $411,536 were capitalized and allocated to the assets acquired based on the relative fair market value of those underlying assets. Standard Description Date of Adoption Effect on the Financial Statements or Other Significant Matters ASU 2017-05, Other Income – Gains and Losses from the Derecognition of Nonfinancial Assets (Subtopic 610-20): Clarifying the Scope of Asset Derecognition Guidance and Accounting for Partial Sales of Nonfinancial Assets This ASU clarifies the definition of an in-substance nonfinancial asset and changes the accounting for partial sales of nonfinancial assets to be more consistent with the accounting for a sale of a business pursuant to ASU 2017-01. This ASU allows for either a retrospective or modified retrospective approach. This ASU is effective for annual reporting periods beginning after December 15, 2017, including interim reporting periods within that reporting period. Early adoption is permitted. This standard allows for either a retrospective or modified retrospective approach. We are currently evaluating the impact this standard may have on our consolidated financial statements and related disclosures upon adoption. ASU 2017-12, Derivatives and Hedging (Topic 815): Targeted Improvements to Accounting for Hedging Activities This ASU clarifies hedge accounting requirements, improves disclosure of hedging arrangements, and better aligns risk management activities and financial reporting for hedging relationships. This ASU is effective for annual periods beginning after December 15, 2018, and interim periods within those annual periods. Early adoption is permitted. We adopted ASU 2017-12 on November 1, 2017. Adoption of the new standard did not have a material effect on our financial position or results of operations. See Note 6 for additional information.
Schedule of Other Assets	As of April 30, 2018 and 2017 , other assets consisted of the following amounts: in thousands 2018 2017 Receivable arising from straight line rents $ 1,458 $ 2,145 Accounts receivable 2,583 2,626 Fair value of interest rate swap 1,779 — Loans receivable 15,480 — Prepaid and other assets 2,832 2,741 Intangible assets 1,469 202 Property and equipment, net of accumulated depreciation 820 901 Goodwill 1,553 1,572 Deferred charges and leasing costs 2,323 3,119 Total Other Assets $ 30,297 $ 13,306

NONCONTROLLING INTERESTS (Table

NONCONTROLLING INTERESTS (Tables)	12 Months Ended
	Apr. 30, 2018
Noncontrolling Interest [Abstract]
Schedule of Noncontrolling Interests - Consolidated Real Estate Entities	Our noncontrolling interests – consolidated real estate entities at April 30, 2018 and 2017 were as follows: (in thousands) April 30, 2018 April 30, 2017 IRET-71 France, LLC $ 6,604 $ 7,425 IRET-Cypress Court Apartments, LLC 897 986 IRET-Williston Garden Apartments, LLC 1,371 1,057 IRET - WRH 1, LLC (8,018 ) (7,904 ) WRH Holding, LLC 224 360 Noncontrolling interests – consolidated real estate entities $ 1,078 $ 1,924

REDEEMABLE NONCONTROLLING INT30

REDEEMABLE NONCONTROLLING INTERESTS (Tables)	12 Months Ended
	Apr. 30, 2018
Temporary Equity Disclosure [Abstract]
Schedule of Redeemable Noncontrolling Interest Activity	Below is a table reflecting the activity of the redeemable noncontrolling interests. (in thousands) 2018 2017 2016 Balance at beginning of fiscal year $ 7,181 $ 7,522 $ 6,368 Contributions 268 81 1,120 Net (loss) income (741 ) (422 ) 34 Balance at close of fiscal year $ 6,708 $ 7,181 $ 7,522

DEBT (Tables)

DEBT (Tables)	12 Months Ended
	Apr. 30, 2018
Debt Disclosure [Abstract]
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.

ACQUISITIONS, DEVELOPMENT PRO32

ACQUISITIONS, DEVELOPMENT PROJECTS PLACED IN SERVICE AND DISPOSITIONS (Tables)	12 Months Ended
	Apr. 30, 2018
Business Combinations [Abstract]
Acquisitions	Our acquisitions during fiscal year 2018 qualified as asset acquisitions under ASU 2017-01, Clarifying the Definition of a Business , and are detailed below. Fiscal 2018 ( May 1, 2017 to April 30, 2018 ) (in thousands) Total Form of Consideration Investment Allocation Date Acquisition Intangible Acquisitions Acquired Cost Cash Land Building Assets Multifamily 191 homes - Oxbo - St. Paul, MN (1) May 26, 2017 $ 61,500 $ 61,500 $ 5,809 $ 54,910 $ 781 500 homes - Park Place - Plymouth, MN September 13, 2017 92,250 92,250 10,609 80,711 930 274 homes - Dylan - Denver, CO November 28, 2017 90,600 90,600 12,155 77,249 1,196 390 homes - Westend - Denver, CO March 28, 2018 128,700 128,700 25,525 102,101 1,074 Total Acquisitions $ 373,050 $ 373,050 $ 54,098 $ 314,971 $ 3,981 (1) Property includes 11,477 square feet of retail space
Development Projects Placed in Service	The fiscal year 2017 development projects placed in service are detailed below. Fiscal 2017 ( May 1, 2016 to April 30, 2017 ) (in thousands) Date Placed Development Development Projects Placed in Service in Service Land Building Cost Multifamily 241 homes - 71 France - Edina, MN (1) May 1, 2016 $ 4,721 $ 67,641 $ 72,362 202 homes - Monticello Crossings - Monticello, MN (2) March 1, 2017 $ 1,734 $ 28,782 $ 30,516 Total Development Projects Placed in Service $ 6,455 $ 96,423 $ 102,878 (1) Costs paid in prior fiscal years totaled $70.9 million . Additional costs incurred in fiscal year 2017 totaled $1.5 million , for a total project cost at April 30, 2017 of $72.4 million . The project is owned by a joint venture entity in which we currently have an approximately 52.6% interest. The joint venture is consolidated in our financial statements. (2) Costs paid in prior fiscal years totaled $15.5 million . Additional costs incurred in fiscal year 2017 totaled $15.0 million , for a total project cost at April 30, 2017 of $30.5 million .
Schedule of Dispositions	The fiscal year 2018 and 2017 dispositions are detailed below. Fiscal 2018 ( May 1, 2017 to April 30, 2018 ) (in thousands) Date Book Value Dispositions Disposed Sales Price and Sales Cost Gain/(Loss) Multifamily 327 homes - 13 apartment communities - Minot, ND (1)(2) August 22, 2017 $ 12,263 $ 11,562 $ 701 48 homes - Crown - Rochester, MN December 1, 2017 5,700 3,318 2,382 16 homes - Northern Valley - Rochester, MN December 1, 2017 950 690 260 18,913 15,570 3,343 Other 4,998 sq ft Minot Southgate Wells Fargo Bank - Minot, ND May 15, 2017 3,440 3,332 108 90,260 sq ft Lexington Commerce Center - Eagan, MN August 22, 2017 9,000 3,963 5,037 17,640 sq ft Duckwood Medical - Eagan, MN August 24, 2017 2,100 1,886 214 279,834 sq ft Edgewood Vista Hermantown I & II - Hermantown, MN October 19, 2017 36,884 24,697 12,187 518,161 sq ft Urbandale - Urbandale, IA November 22, 2017 16,700 12,857 3,843 36,053 sq ft 3075 Long Lake Road - Roseville, MN November 28, 2017 18,650 12,766 5,884 1,205,432 sq ft 25 Healthcare properties (3)(4) December 29, 2017 370,268 232,778 137,490 43,404 sq ft Garden View - St. Paul, MN January 19, 2018 14,000 6,191 7,809 52,116 sq ft Ritchie Medical - St. Paul, MN January 19, 2018 16,500 10,419 6,081 22,187 sq ft Bismarck 715 East Broadway and Unimproved Land - Bismarck, ND March 7, 2018 5,500 3,215 2,285 493,042 312,104 180,938 Unimproved Land Bismarck 4916 Unimproved Land - Bismarck, ND August 8, 2017 3,175 3,188 (13 ) Total Dispositions $ 515,130 $ 330,862 $ 184,268 (1) These communities include: 4th Street 4 Plex, 11th Street 3 Plex, Apartments on Main, Brooklyn Heights, Colton Heights, Fairmont, First Avenue (Apartments and Office), Pines, Southview, Summit Park, Temple (includes 17 South Main Retail), Terrace Heights, and Westridge. (2) $626,000 of the gain on sale was deferred. See Note 2 for additional information on the related mortgage note receivable. (3) The properties included: 2800 Medical, 2828 Chicago Avenue, Airport Medical, Billings 2300 Grand Road, Burnsville 303 Nicollet Medical, Burnsville 305 Nicollet Medical, Duluth Denfeld Clinic, Edina 6363 France Medical, Edina 6405 France Medical, Edina 6517 Drew Avenue, Edina 6225 France SMC II, Edina 6545 France SMC I, Gateway Clinic, High Pointe Health Campus, Lakeside Medical Plaza, Mariner Clinic, Minneapolis 701 25th Avenue Medical, Missoula 3050 Great Northern, Park Dental, Pavilion I, Pavilion II, PrairieCare Medical, St. Michael Clinic, Trinity at Plaza 16 and Wells Clinic. (4) Sale price includes $2.5 million that was deposited into escrow pending the resolution of certain post-closing items. As of April 30, 2018 these items had not yet been resolved. Fiscal 2017 ( May 1, 2016 to April 30, 2017 ) (in thousands) Date Book Value Dispositions Disposed Sales Price and Sales Cost Gain/(Loss) Multifamily 24 homes Pinecone Villas - Sartell, MN April 20, 2017 $ 3,540 $ 2,732 $ 808 Healthcare 189,244 sq ft 9 Idaho Spring Creek Senior Housing Properties (1) October 31, 2016 43,900 37,397 6,503 426,652 sq ft 5 Edgewood Vista Senior Housing Properties (2) January 18, 2017 69,928 50,393 19,535 286,854 sq ft 5 Wyoming Senior Housing Properties (3) February 1, 2017 49,600 45,469 4,131 169,001 sq ft 9 Edgewood Vista Senior Housing Properties (4) February 15, 2017 30,700 24,081 6,619 169,562 sq ft 4 Edgewood Vista Senior Housing Properties (5) March 1, 2017 35,348 14,511 20,837 114,316 sq ft Healtheast St. John & Woodwinds - Maplewood & Woodbury MN March 6, 2017 20,700 13,777 6,923 59,760 sq ft Sartell 2000 23rd Street South - Sartell, MN March 31, 2017 5,600 5,923 (323 ) 98,174 sq ft Legends at Heritage Place - Sartell, MN April 20, 2017 9,960 11,439 (1,479 ) 265,736 202,990 62,746 Other 195,075 sq ft Stone Container - Fargo, ND July 25, 2016 13,400 4,418 8,982 28,528 sq ft Grand Forks Carmike - Grand Forks, ND December 29, 2016 4,000 1,563 2,437 17,400 5,981 11,419 Unimproved Land Georgetown Square Unimproved Land - Grand Chute, WI May 6, 2016 250 274 (24 ) Total Property Dispositions $ 286,926 $ 211,977 $ 74,949 (1) The properties included in this portfolio disposition are: Spring Creek American Falls, Spring Creek Boise, Spring Creek Eagle, Spring Creek Fruitland, Spring Creek Fruitland Unimproved, Spring Creek Meridian, Spring Creek Overland, Spring Creek Soda Springs and Spring Creek Ustick . (2) The properties included in this portfolio disposition are: Edgewood Vista Bismarck, Edgewood Vista Brainerd, Edgewood Vista East Grand Forks, Edgewood Vista Fargo, and Edgewood Vista Spearfish. (3) The properties included in this portfolio disposition are: Casper 1930 E 12th Street (Park Place), Casper 3955 E 12th Street (Meadow Wind), Cheyenne 4010 N College Drive (Aspen Wind), Cheyenne 4606 N College Drive (Sierra Hills) and Laramie 1072 N 22nd Street (Spring Wind). (4) The properties included in this portfolio disposition are: Edgewood Vista Belgrade, Edgewood Vista Billings, Edgewood Vista Columbus, Edgewood Vista Fremont, Edgewood Vista Grand Island, Edgewood Vista Minot, Edgewood Vista Missoula, Edgewood Vista Norfolk and Edgewood Vista Sioux Falls. (5) The properties included in this portfolio are: Edgewood Vista Hastings, Edgewood Vista Kalispell, Edgewood Vista Omaha and Edgewood Vista Virginia.

OPERATING SEGMENT (Tables)

OPERATING SEGMENT (Tables)	12 Months Ended
	Apr. 30, 2018
Segment Reporting [Abstract]
Revenues and Net Operating Income for Reportable Segments	The following tables present real estate revenues, real estate expenses, and net operating income for the fiscal years ended April 30, 2018 , 2017 , and 2016 from our reportable segment and reconcile net operating income to net income as reported in the consolidated financial statements. Segment assets are also reconciled to total assets as reported in the consolidated financial statements. (in thousands) Year ended April 30, 2018 Multifamily All Other Total Real estate revenue $ 159,983 $ 9,762 $ 169,745 Real estate expenses 70,460 2,574 73,034 Net operating income $ 89,523 $ 7,188 $ 96,711 Property management expenses (5,526 ) Casualty loss (500 ) Depreciation and amortization (82,070 ) Impairment of real estate investments (18,065 ) General and administrative expenses (14,203 ) Acquisition and investment related costs (51 ) Interest expense (34,178 ) Loss on debt extinguishment (940 ) Interest and other income 1,508 Loss before gain on sale of real estate and other investments and income from discontinued operations (57,314 ) Gain on sale of real estate and other investments 20,120 Loss from continuing operations (37,194 ) Income from discontinued operations 164,823 Net income $ 127,629 (in thousands) Year ended April 30, 2017 Multifamily All Other Total Real estate revenue $ 142,214 $ 17,890 $ 160,104 Real estate expenses 60,895 3,431 64,326 Net operating income $ 81,319 $ 14,459 $ 95,778 Property management expenses (5,046 ) Casualty loss (414 ) Depreciation and amortization (44,253 ) Impairment of real estate investments (57,028 ) General and administrative expenses (15,871 ) Acquisition and investment related costs (3,276 ) Interest expense (34,314 ) Loss on debt extinguishment (1,651 ) Interest and other income 1,146 Loss before gain on sale of real estate and other investments (64,929 ) Gain on sale of real estate and other investments 18,701 Loss from continuing operations (46,228 ) Income from discontinued operations 76,753 Net income $ 30,525 (in thousands) Year ended April 30, 2016 Multifamily All Other Total Real estate revenue $ 129,049 $ 16,451 $ 145,500 Real estate expenses 54,762 3,386 58,148 Net operating income $ 74,287 $ 13,065 $ 87,352 Property management expenses (3,714 ) Casualty loss (238 ) Depreciation and amortization (39,273 ) Impairment of real estate investments (5,543 ) General and administrative expenses (13,498 ) Acquisition and investment related costs (830 ) Interest expense (28,417 ) Loss on debt extinguishment (106 ) Interest and other income 385 Loss before loss on sale of real estate and other investments and loss from discontinued operations (3,882 ) Gain on sale of real estate and other investments 9,640 Gain on bargain purchase 3,424 Income from continuing operations 9,182 Income from discontinued operations 67,420 Net income $ 76,602
Segment Assets and Accumulated Depreciation	Segment Assets and Accumulated Depreciation (in thousands) As at April 30, 2018 Multifamily All Other Total Segment assets Property owned $ 1,606,421 $ 63,343 $ 1,669,764 Less accumulated depreciation (294,477 ) (16,847 ) (311,324 ) Total property owned $ 1,311,944 $ 46,496 $ 1,358,440 Cash and cash equivalents 11,891 Restricted cash 4,225 Other assets 30,297 Unimproved land 11,476 Mortgage loans receivable 10,329 Total Assets $ 1,426,658 (in thousands) As at April 30, 2017 Multifamily All Other Total Segment assets Property owned $ 1,260,541 $ 97,988 $ 1,358,529 Less accumulated depreciation (232,592 ) (23,007 ) (255,599 ) Total property owned $ 1,027,949 $ 74,981 $ 1,102,930 Assets held for sale and assets from discontinued operations 283,023 Cash and cash equivalents 28,819 Restricted cash 27,981 Other assets 13,306 Unimproved land $ 18,455 Total Assets $ 1,474,514

DISCONTINUED OPERATIONS (Tables

DISCONTINUED OPERATIONS (Tables)	12 Months Ended
	Apr. 30, 2018
Discontinued Operations and Disposal Groups [Abstract]
Effect on Net Income and Gains or Losses From Sale Of Properties Classified as Discontinued Operations	The following information shows the effect on net income and the gains or losses from the sale of properties classified as discontinued operations for the fiscal years ended April 30, 2018 , 2017 , and 2016 . (in thousands) Year Ended April 30, 2018 2017 2016 REVENUE Real estate rentals $ 19,744 $ 43,984 $ 69,623 Tenant reimbursement 11,650 16,110 23,434 TRS senior housing revenue — 3,218 3,955 TOTAL REVENUE 31,394 63,312 97,012 EXPENSES Property operating expenses, excluding real estate taxes 6,350 9,051 17,470 Real estate taxes 5,191 6,848 11,611 Property management expense 206 574 1,957 Depreciation and amortization 8,445 10,772 24,725 Impairment of real estate investments — — 440 TRS senior housing expenses — 3,113 3,366 TOTAL EXPENSES 20,192 30,358 59,569 Operating income 11,202 32,954 37,443 Interest expense (1) (4,172 ) (11,628 ) (25,757 ) Gain (loss) on extinguishment of debt (1) (6,508 ) (3,238 ) 29,336 Interest income 661 2,179 2,179 Other income 73 340 437 Income from discontinued operations before gain on sale 1,256 20,607 43,638 Gain on sale of discontinued operations 163,567 56,146 23,782 INCOME FROM DISCONTINUED OPERATIONS $ 164,823 $ 76,753 $ 67,420 Segment Data All other $ 164,823 $ 76,753 $ 67,420 Total $ 164,823 $ 76,753 $ 67,420 (1) Interest expense includes $4.7 million for the fiscal year ended April 30, 2016 , of default interest related to a $ 122.6 million non-recourse loan. Gain on extinguishment of debt in the fiscal year ended April 30, 2016 includes $36.5 million of gain on extinguishment of debt recognized in connection with our transfer of ownership to the mortgage lender of the nine properties serving as collateral for the $122.6 million non-recourse loan and the removal of the debt obligation and accrued interest from our balance sheet. (in thousands) 2018 2017 2016 Property Sale Data Sales price $ 437,652 $ 239,436 $ 373,460 Net book value and sales costs (274,085 ) (183,290 ) (349,678 ) Gain on sale of discontinued operations $ 163,567 $ 56,146 $ 23,782
Reconciliation of Assets and Liabilities of Discontinued Operations to Assets and Liabilities Held for Sale That Are Presented Separately on Condensed Consolidated Balance Sheets	The following information reconciles the carrying amounts of major classes of assets and liabilities of the discontinued operations to assets and liabilities held for sale that are presented separately on the Consolidated Balance Sheets: April 30, 2017 Carrying amounts of major classes of assets included as part of discontinued operations Property owned and intangible assets, net of accumulated depreciation and amortization $ 255,466 Restricted cash 728 Other Assets 12,750 Total major classes of assets of the discontinued operations 268,944 Other assets included in the disposal group classified as held for sale 14,079 Total assets of the disposal group classified as held for sale on the balance sheet $ 283,023 Carrying amounts of major classes of liabilities included as part of discontinued operations Accounts payable and accrued expenses $ 4,835 Mortgages payable 112,208 Other 7,977 Total major classes of liabilities of the discontinued operations 125,020 Other liabilities included in the disposal group classified as held for sale 5,884 Total liabilities of the disposal group classified as held for sale on the balance sheet $ 130,904

EARNINGS PER SHARE (Tables)

EARNINGS PER SHARE (Tables)	12 Months Ended
	Apr. 30, 2018
Earnings Per Share [Abstract]
Reconciliation of Numerator and Denominator Used To Calculate Basic and Diluted Earnings per Share	The following table presents a reconciliation of the numerator and denominator used to calculate basic and diluted earnings per share reported in the consolidated financial statements for the fiscal years ended April 30, 2018 , 2017 and 2016 : For Year Ended April 30, (in thousands, except per share data) 2018 2017 2016 NUMERATOR Income (loss) from continuing operations – Investors Real Estate Trust $ (30,266 ) $ (24,473 ) $ 11,553 Income from discontinued operations – Investors Real Estate Trust 147,054 67,820 60,453 Net income attributable to Investors Real Estate Trust 116,788 43,347 72,006 Dividends to preferred shareholders (8,569 ) (10,546 ) (11,514 ) Redemption of preferred shares (3,657 ) (1,435 ) — Numerator for basic earnings per share – net income available to common shareholders 104,562 31,366 60,492 Noncontrolling interests – Operating Partnership 12,702 4,059 7,032 Numerator for diluted earnings per share $ 117,264 $ 35,425 $ 67,524 DENOMINATOR Denominator for basic earnings per share weighted average shares 119,977 121,169 123,094 Effect of redeemable operating partnership units 14,617 16,130 14,278 Denominator for diluted earnings per share 134,594 137,299 137,372 Earnings (loss) per common share from continuing operations – Investors Real Estate Trust – basic and diluted $ (0.36 ) $ (0.30 ) $ — Earnings per common share from discontinued operations – Investors Real Estate Trust – basic and diluted 1.23 0.56 0.49 NET INCOME PER COMMON SHARE – BASIC & DILUTED $ 0.87 $ 0.26 $ 0.49

FAIR VALUE MEASUREMENTS (Tables

FAIR VALUE MEASUREMENTS (Tables)	12 Months Ended
	Apr. 30, 2018
Fair Value Disclosures [Abstract]
Schedule of Fair Value of Derivatives	The fair value of the derivative by its level in the fair value hierarchy is as follows: (in thousands) Balance Sheet Location Total Level 1 Level 2 Level 3 April 30, 2018 Derivative instrument - interest rate swap Other Assets $ 1,779 $ — $ 1,779 $ —
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 April 30, 2018 Real estate investments valued at fair value $ 52,145 $ — $ — $ 52,145 April 30, 2017 Real estate investments valued at fair value $ 506 $ — $ — $ 506 Real estate held for sale (1) 10,891 — — 10,891 (1) Represents only the portion of real estate held for sale at April 30, 2017 that was written down to estimated fair value.
Schedule of Estimated Fair Values of Financial Instruments	The estimated fair values of our financial instruments as of April 30, 2018 and 2017 are as follows: (in thousands) 2018 2017 Amount Fair Value Amount Fair Value FINANCIAL ASSETS Cash and cash equivalents $ 11,891 $ 11,891 $ 28,819 $ 28,819 FINANCIAL LIABILITIES Other debt, including other debt related to assets held for sale — — 49,637 49,637 Revolving line of credit 124,000 124,000 57,050 57,050 Term loan (1) 70,000 — — Mortgages payable (2) 509,919 510,803 665,440 680,941 Mortgages payable related to assets held for sale — — 21,803 21,861 (1) Excluding the effect of the interest rate swap agreement. (2) Includes mortgages payable related to assets held for sale and assets of discontinued operations at April 30, 2017.

QUARTERLY RESULTS OF CONSOLID37

QUARTERLY RESULTS OF CONSOLIDATED OPERATIONS (unaudited) (Tables)	12 Months Ended
	Apr. 30, 2018
Selected Quarterly Financial Information [Abstract]
Schedule of Quarterly Results of Consolidation Operations	(in thousands, except per share data) QUARTER ENDED July 31, 2017 October 31, 2017 January 31, 2018 April 30, 2018 Revenues $ 40,978 $ 41,866 $ 42,716 $ 44,185 Net income (loss) attributable to Investors Real Estate Trust $ (11,264 ) $ 12,821 $ 136,105 $ (20,874 ) Net income (loss) available to common shareholders $ (13,550 ) $ 6,360 $ 134,331 $ (22,579 ) Net income (loss) per common share - basic & diluted $ (0.11 ) $ 0.05 $ 1.12 $ (0.19 ) (in thousands, except per share data) QUARTER ENDED July 31, 2016 October 31, 2016 January 31, 2017 April 30, 2017 Revenues $ 38,301 $ 39,195 $ 39,797 $ 42,811 Net income (loss) attributable to Investors Real Estate Trust $ (21,643 ) $ 11,600 $ 23,110 $ 30,280 Net income (loss) available to common shareholders $ (24,522 ) $ 8,722 $ 19,172 $ 27,994 Net income (loss) per common share - basic & diluted $ (0.20 ) $ 0.07 $ 0.16 $ 0.23

SHARE BASED COMPENSATION (Table

SHARE BASED COMPENSATION (Tables)	12 Months Ended
	Apr. 30, 2018
Disclosure of Compensation Related Costs, Share-based Payments [Abstract]
Schedule of Compensation Expense Recognized	Total share based compensation expense recognized in the consolidated financial statements for the three years ended April 30, 2018 , for all share-based awards was as follows (in thousands): Year Ended April 30, 2018 2017 2016 Share based compensation expense $ 1,587 $ 6 $ 2,256
Schedule of Restricted Share Awards Activity	The activity for the three years ended April 30, 2018 , related to our time-based restricted share awards was as follows. Wtd Avg Grant- Shares Date Fair Value Unvested at April 30, 2015 107,536 $ 7.17 Vested (107,536 ) 7.17 Unvested at April 30, 2016 — Granted 253,263 6.16 Vested (21,308 ) 5.95 Forfeited (36,817 ) 6.24 Unvested at April 30, 2017 195,138 Granted 91,364 5.75 Vested (185,431 ) 5.99 Forfeited (2,019 ) 6.24 Unvested at April 30, 2018 99,052 6.12

ORGANIZATION (Details)

ORGANIZATION (Details)	Apr. 30, 2018propertyunit
Real Estate Properties [Line Items]
Number of real estate properties	99
Multi-family Residential Properties [Member]
Real Estate Properties [Line Items]
Number of real estate properties	90
Number of apartment homes | unit	14,176

BASIS OF PRESENTATION AND SIG40

BASIS OF PRESENTATION AND SIGNIFICANT ACCOUNTING POLICIES - Real Estate Properties (Details) $ / shares in Units, shares in Millions	Apr. 30, 2017USD ($)	Aug. 31, 2017USD ($)property	Apr. 30, 2018USD ($)$ / shares	Jan. 31, 2018USD ($)$ / shares	Oct. 31, 2017USD ($)$ / shares	Jul. 31, 2017USD ($)$ / shares	Apr. 30, 2017USD ($)$ / shares	Jan. 31, 2017USD ($)$ / shares	Oct. 31, 2016USD ($)$ / shares	Jul. 31, 2016USD ($)$ / shares	Oct. 31, 2017segment	Jan. 31, 2018	Apr. 30, 2018USD ($)property$ / shares	Dec. 31, 2017	Apr. 30, 2017USD ($)property$ / shares	Dec. 31, 2016	Apr. 30, 2016USD ($)propertysegment$ / sharesshares
BASIS OF PRESENTATION [Abstract]
Interest in operating partnership (in hundredths)	88.60%		89.40%				88.60%						89.40%		88.60%
Percentage of general interest partnership (in hundredths)	100.00%		100.00%				100.00%						100.00%		100.00%
Redemption basis													1
RECENT ACCOUNTING PRONOUNCEMENTS [Abstract]
Acquisition costs capitalized			$ 411,536										$ 411,536
REAL ESTATE INVESTMENTS [Abstract]
Real estate investments	$ 1,121,385,000		1,380,245,000				$ 1,121,385,000						1,380,245,000		$ 1,121,385,000
Construction period interest capitalized													4,000		431,000		$ 4,900,000
IMPAIRMENT OF LONG-LIVED ASSETS [Abstract]
Impairment of real estate investments													18,065,000		57,028,000		$ 5,983,000
CHANGE IN DEPRECIABLE LIVES OF REAL ESTATE ASSETS
Number of reportable segments | segment											2						5
Net income			$ (22,579,000)	$ 134,331,000	$ 6,360,000	$ (13,550,000)	$ 27,994,000	$ 19,172,000	$ 8,722,000	$ (24,522,000)			$ 104,562,000		$ 31,366,000		$ 60,492,000
Net income (loss) per common share - basic & diluted (in dollars per share) | $ / shares			$ (0.19)	$ 1.12	$ 0.05	$ (0.11)	$ 0.23	$ 0.16	$ 0.07	$ (0.20)			$ 0.87		$ 0.26		$ 0.49
Held for Sale [Abstract]
Number of year after date of acquisition related to adjustment of real estate preliminary allocations of purchase price													1 year
PROPERTY AND EQUIPMENT [Abstract]
Property and equipment cost	2,100,000		$ 2,100,000				$ 2,100,000						$ 2,100,000		$ 2,100,000
Accumulated depreciation	1,200,000		1,300,000				1,200,000						1,300,000		1,200,000
RESTRICTED CASH
Restricted cash	27,981,000		4,225,000				27,981,000						$ 4,225,000		$ 27,981,000
INCOME TAXES [Abstract]
Minimum dividend distribution percentage													90.00%
Dividend distribution percentage (in hundredths)													90.00%		90.00%		90.00%
Distribution of federal income tax (in hundredths)														14.59%		12.43%
Distribution of capital gain (in hundredths)														48.87%		87.57%
Distribution made as return of capital (in hundredths)														36.54%
Financing Receivable, Net [Abstract]
Number of real estate properties sold | property													28
Mortgage loans receivable	$ 0		10,329,000				$ 0						$ 10,329,000		$ 0
Interest income													1,197,000		366,000		$ 78,000
Business Combination, Bargain Purchase [Abstract]
Gain on bargain purchase													$ 0		0		$ 3,424,000
Buildings and Improvements [Member] | Minimum [Member]
REAL ESTATE INVESTMENTS [Abstract]
Estimated useful life of assets (in years)													10 years
Buildings and Improvements [Member] | Maximum [Member]
REAL ESTATE INVESTMENTS [Abstract]
Estimated useful life of assets (in years)													37 years
Furniture, Fixtures and Equipment [Member] | Minimum [Member]
REAL ESTATE INVESTMENTS [Abstract]
Estimated useful life of assets (in years)													5 years
Furniture, Fixtures and Equipment [Member] | Maximum [Member]
REAL ESTATE INVESTMENTS [Abstract]
Estimated useful life of assets (in years)													10 years
Renovations and Improvements [Member] | Minimum [Member]
REAL ESTATE INVESTMENTS [Abstract]
Estimated useful life of assets (in years)													5 years
Renovations and Improvements [Member] | Maximum [Member]
REAL ESTATE INVESTMENTS [Abstract]
Estimated useful life of assets (in years)													10 years
Minot, ND - property [Member]
IMPAIRMENT OF LONG-LIVED ASSETS [Abstract]
Impairment of real estate investments															$ 2,900,000
Multi-family Residential Properties [Member]
IMPAIRMENT OF LONG-LIVED ASSETS [Abstract]
Number of impaired properties | property													1		16
Multi-family Residential Properties [Member] | Grand Forks, North Dakota [Member]
IMPAIRMENT OF LONG-LIVED ASSETS [Abstract]
Impairment of real estate investments													$ 12,200,000
Multi-family Residential Properties [Member] | Williston, ND - property [Member]
IMPAIRMENT OF LONG-LIVED ASSETS [Abstract]
Number of impaired properties | property															3
Multi-family Residential Properties [Member] | Williston, ND - property 1 [Member]
IMPAIRMENT OF LONG-LIVED ASSETS [Abstract]
Impairment of real estate investments															$ 40,900,000
Interest in joint venture	70.00%						70.00%								70.00%
Multi-family Residential Properties [Member] | Williston, ND - property 2 [Member]
IMPAIRMENT OF LONG-LIVED ASSETS [Abstract]
Impairment of real estate investments															$ 5,800,000
Multi-family Residential Properties [Member] | Williston, ND - property 3 [Member]
IMPAIRMENT OF LONG-LIVED ASSETS [Abstract]
Impairment of real estate investments															$ 4,700,000
Interest in joint venture	60.00%						60.00%								60.00%
Commercial Properties [Member]
IMPAIRMENT OF LONG-LIVED ASSETS [Abstract]
Number of impaired properties | property													3
Land [Member]
IMPAIRMENT OF LONG-LIVED ASSETS [Abstract]
Number of impaired properties | property													4		2		2
Land [Member] | Grand Forks, North Dakota [Member]
IMPAIRMENT OF LONG-LIVED ASSETS [Abstract]
Impairment of real estate investments													$ 1,500,000
Land [Member] | Minot, ND - property [Member]
IMPAIRMENT OF LONG-LIVED ASSETS [Abstract]
Number of impaired properties | property															1
Land [Member] | Bismark, North Dakota - First Property [Member]
IMPAIRMENT OF LONG-LIVED ASSETS [Abstract]
Impairment of real estate investments													$ 256,000
Land [Member] | Bismark, North Dakota [Member]
IMPAIRMENT OF LONG-LIVED ASSETS [Abstract]
Number of impaired properties | property													2
Land [Member] | Bismark, North Dakota - Second Property [Member]
IMPAIRMENT OF LONG-LIVED ASSETS [Abstract]
Impairment of real estate investments													$ 709,000
Land [Member] | Williston, ND - property [Member]
IMPAIRMENT OF LONG-LIVED ASSETS [Abstract]
Impairment of real estate investments													428,000		$ 2,800,000
Interest in joint venture	70.00%						70.00%								70.00%
Number of impaired properties | property															1
Land [Member] | River Falls Wisconsin [Member]
IMPAIRMENT OF LONG-LIVED ASSETS [Abstract]
Impairment of real estate investments																	$ 162,000
Industrial [Member] | Bloomington, Minnesota [Member]
IMPAIRMENT OF LONG-LIVED ASSETS [Abstract]
Impairment of real estate investments													1,400,000
Industrial [Member] | Woodbury, Minnesota [Member]
IMPAIRMENT OF LONG-LIVED ASSETS [Abstract]
Impairment of real estate investments													922,000
Retail Site [Member] | Minot, ND - property [Member]
IMPAIRMENT OF LONG-LIVED ASSETS [Abstract]
Impairment of real estate investments													630,000
Office [Member]
IMPAIRMENT OF LONG-LIVED ASSETS [Abstract]
Number of impaired properties | property																	1
Commercial Healthcare [Member]
IMPAIRMENT OF LONG-LIVED ASSETS [Abstract]
Number of impaired properties | property																	1
Multi-Family Residential [Member]
IMPAIRMENT OF LONG-LIVED ASSETS [Abstract]
Number of impaired properties | property																	8
Financing Receivable, Net [Abstract]
Interest rate on mortgages payable												6.00%
Loan commitment						$ 16,200,000
Notes receivable			15,500,000										$ 15,500,000
Multi-Family Residential [Member] | St Cloud Minnesota [Member]
IMPAIRMENT OF LONG-LIVED ASSETS [Abstract]
Impairment of real estate investments																	$ 1,900,000
Number of impaired properties | property																	8
Office Property [Member] | Eden Prairie Minnesota [Member]
IMPAIRMENT OF LONG-LIVED ASSETS [Abstract]
Impairment of real estate investments																	$ 440,000
Assets Held for Sale [Member]
Held for Sale [Abstract]
Number of real estate properties classified as held for sale | property													0
Assets Held for Sale [Member] | Multi-family Residential Properties [Member]
Held for Sale [Abstract]
Number of real estate properties classified as held for sale | property															13
Assets Held for Sale [Member] | Multi-family Residential Properties [Member] | Minot, ND - property [Member]
IMPAIRMENT OF LONG-LIVED ASSETS [Abstract]
Number of impaired properties | property															13
Assets Held for Sale [Member] | Retail Site [Member]
Held for Sale [Abstract]
Number of real estate properties classified as held for sale | property															2
Assets Held for Sale [Member] | Commercial Healthcare [Member]
Held for Sale [Abstract]
Number of real estate properties classified as held for sale | property															2
Assets Held for Sale [Member] | Medical Property [Member] | Sartell, Minnesota, Healthcare Property [Member]
IMPAIRMENT OF LONG-LIVED ASSETS [Abstract]
Impairment of real estate investments																	1,900,000
Discontinued Operations [Member]
IMPAIRMENT OF LONG-LIVED ASSETS [Abstract]
Impairment of real estate investments																	440,000
Financing Receivable, Net [Abstract]
Interest income													$ 661,000		$ 2,179,000		2,179,000
Discontinued Operations [Member] | Land [Member] | Grand Chute, Wisconsin, Unimproved Land [Member]
IMPAIRMENT OF LONG-LIVED ASSETS [Abstract]
Impairment of real estate investments																	1,600,000
Discontinued Operations [Member] | Commercial Healthcare [Member]
REAL ESTATE INVESTMENTS [Abstract]
Number of real estate properties classified as discontinued operations | property													27
Discontinued Operations, Disposed of by Sale [Member] | Multi-Family Residential [Member]
Financing Receivable, Net [Abstract]
Number of real estate properties sold | property		13
Mortgage loans receivable		$ 11,000,000
Deferred gain on sale of properties		$ 626,000
Interest rate on mortgages payable		5.50%
Interest income													$ 372,000
Service Life [Member]
CHANGE IN DEPRECIABLE LIVES OF REAL ESTATE ASSETS
Depreciation													29,300,000
Net income													$ (29,300,000)
Net income (loss) per common share - basic & diluted (in dollars per share) | $ / shares													$ (0.22)
Service Life [Member] | Minimum [Member]
CHANGE IN DEPRECIABLE LIVES OF REAL ESTATE ASSETS
Useful life	20 years											10 years
Service Life [Member] | Maximum [Member]
CHANGE IN DEPRECIABLE LIVES OF REAL ESTATE ASSETS
Useful life	40 years											37 years
Service Life [Member] | Property With Previous Nine Year Life [Member]
CHANGE IN DEPRECIABLE LIVES OF REAL ESTATE ASSETS
Useful life	9 years
Service Life [Member] | Property With Previous Nine Year Life [Member] | Minimum [Member]
CHANGE IN DEPRECIABLE LIVES OF REAL ESTATE ASSETS
Useful life												5 years
Service Life [Member] | Property With Previous Nine Year Life [Member] | Maximum [Member]
CHANGE IN DEPRECIABLE LIVES OF REAL ESTATE ASSETS
Useful life												10 years
Service Life [Member] | Fully Depreciated Property [Member]
CHANGE IN DEPRECIABLE LIVES OF REAL ESTATE ASSETS
Depreciation						$ 9,000,000
Net income (loss) per common share - basic & diluted (in dollars per share) | $ / shares						$ (0.07)
Escrow Deposits [Member]
RESTRICTED CASH
Restricted cash	$ 4,300,000		$ 4,200,000				$ 4,300,000						$ 4,200,000		4,300,000
Tax-Deferred Exchange Proceeds [Member]
RESTRICTED CASH
Restricted cash	$ 23,700,000						$ 23,700,000								$ 23,700,000
187 unit - Avalon Cove - Rochester, MN [Member]
Business Combination, Bargain Purchase [Abstract]
Total acquisition costs																	36,300,000
Form of consideration, cash																	$ 15,000,000
Shares exchanged (in shares) | shares																	2.5
Shares exchanged																	$ 17,800,000
Share price (in dollars per share) | $ / shares																	$ 7.09
Gain on bargain purchase																	$ 3,400,000

BASIS OF PRESENTATION AND SIG41

BASIS OF PRESENTATION AND SIGNIFICANT ACCOUNTING POLICIES - Other Assets (Details) - USD ($) $ in Thousands	Apr. 30, 2018	Apr. 30, 2017
Accounting Policies [Abstract]
Receivable arising from straight line rents	$ 1,458	$ 2,145
Accounts receivable	2,583	2,626
Fair value of interest rate swap	1,779	0
Loans receivable	15,480	0
Prepaid and other assets	2,832	2,741
Intangible assets	1,469	202
Property and equipment, net of accumulated depreciation	820	901
Goodwill	1,553	1,572
Deferred charges and leasing costs	2,323	3,119
Total Other Assets	$ 30,297	$ 13,306

BASIS OF PRESENTATION AND SIG42

BASIS OF PRESENTATION AND SIGNIFICANT ACCOUNTING POLICIES - Proceeds From Financing Liability (Details) $ in Millions	3 Months Ended
	Jul. 31, 2013USD ($)
Accounting Policies [Abstract]
Proceeds from sale of property	$ 7.9
Contract for deed	29
Financing liability	$ 7.9

NONCONTROLLING INTERESTS (Detai

NONCONTROLLING INTERESTS (Details) - USD ($) $ in Thousands	Apr. 30, 2018	Apr. 30, 2017
Noncontrolling Interest [Line Items]
Noncontrolling interests – consolidated real estate entities	$ 1,078	$ 1,924
IRET - 71 France, LLC [Member]
Noncontrolling Interest [Line Items]
Noncontrolling interests – consolidated real estate entities	6,604	7,425
IRET-Cypress Court Apartments, LLC [Member]
Noncontrolling Interest [Line Items]
Noncontrolling interests – consolidated real estate entities	897	986
IRET-Williston Garden Apartments, LLC [Member]
Noncontrolling Interest [Line Items]
Noncontrolling interests – consolidated real estate entities	1,371	1,057
IRET-WRH 1, LLC [Member]
Noncontrolling Interest [Line Items]
Noncontrolling interests – consolidated real estate entities	(8,018)	(7,904)
WRH Holding, LLC [Member]
Noncontrolling Interest [Line Items]
Noncontrolling interests – consolidated real estate entities	$ 224	$ 360

REDEEMABLE NONCONTROLLING INT44

REDEEMABLE NONCONTROLLING INTERESTS (Details) $ in Thousands	12 Months Ended
	Apr. 30, 2018USD ($)joint_venture	Apr. 30, 2017USD ($)	Apr. 30, 2016USD ($)
Redeemable Noncontrolling Interest [Line Items]
Number of joint ventures with buy sell options | joint_venture	1
Increase (Decrease) in Temporary Equity [Roll Forward]
Balance at beginning of fiscal year	$ 7,181
Contributions	619	$ 7,188
Balance at close of fiscal year	$ 6,708	7,181
Southgate - Minot, ND [Member]
Redeemable Noncontrolling Interest [Line Items]
Number of joint ventures with buy sell options | joint_venture	1
Commitment period for joint venture acquisition	4 years
Increase (Decrease) in Temporary Equity [Roll Forward]
Balance at beginning of fiscal year	$ 7,181	7,522	$ 6,368
Contributions	268	81	1,120
Net (loss) income	(741)	(422)	34
Balance at close of fiscal year	$ 6,708	$ 7,181	$ 7,522

DEBT - Narrative (Details)

DEBT - Narrative (Details)	9 Months Ended	12 Months Ended
	Jan. 31, 2018	Apr. 30, 2018USD ($)propertyloanextension	Apr. 30, 2017USD ($)
Line of Credit Facility [Line Items]
Number of real estate properties, owned | property		99
Number of real estate properties, serving as collateral for mortgage loans | property		58
Property owned		$ 1,669,764,000	$ 1,358,529,000
Number of real estate properties, unemcumbered by mortgages | property		41
Number of real estate properties, unemcumbered used to provide credit support | property		30
Amount available		$ 6,000,000
Revolving line of credit		124,000,000	57,050,000
Carrying principal value		706,140,000	$ 786,030,000
Domestic Line of Credit [Member] | Minimum [Member] | Base Rate [Member]
Line of Credit Facility [Line Items]
Interest rate spread (as a percent)	0.60%
Domestic Line of Credit [Member] | Minimum [Member] | London Interbank Offered Rate (LIBOR) [Member]
Line of Credit Facility [Line Items]
Interest rate spread (as a percent)	1.60%
Domestic Line of Credit [Member] | Maximum [Member] | Base Rate [Member]
Line of Credit Facility [Line Items]
Interest rate spread (as a percent)	1.25%
Domestic Line of Credit [Member] | Maximum [Member] | London Interbank Offered Rate (LIBOR) [Member]
Line of Credit Facility [Line Items]
Interest rate spread (as a percent)	2.25%
Multifamily [Member]
Line of Credit Facility [Line Items]
Property owned		$ 512,100,000
Mortgages [Member]
Line of Credit Facility [Line Items]
Number of loans in default | loan		0
Weighted average interest rate (in hundredths)		4.69%	4.71%
Mortgages [Member] | Minimum [Member]
Line of Credit Facility [Line Items]
Interest rate		3.47%
Mortgages [Member] | Maximum [Member]
Line of Credit Facility [Line Items]
Interest rate		6.66%
Line of Credit [Member]
Line of Credit Facility [Line Items]
Amount available		$ 300,000,000	$ 250,000,000
Accordion option		$ 200,000,000
Term		1 year
Unsecured Debt [Member]
Line of Credit Facility [Line Items]
Original principal balance		$ 70,000,000
Construction Debt [Member]
Line of Credit Facility [Line Items]
Carrying principal value			$ 41,700,000
Weighted average interest rate (in hundredths)			3.27%
BMO Line of Credit [Member] | Line of Credit [Member]
Line of Credit Facility [Line Items]
Amount available		300,000,000	$ 206,000,000
Revolving line of credit		$ 124,000,000	$ 57,100,000
Interest rate (in hundredths)		3.66%
Number of extensions | extension		1
Extension term		12 months
BMO Line of Credit [Member] | Domestic Line of Credit [Member]
Line of Credit Facility [Line Items]
Remaining borrowing capacity		$ 176,000,000

DEBT - Schedule of Required Pay

DEBT - Schedule of Required Payments (Details) - USD ($) $ in Thousands	Apr. 30, 2018	Apr. 30, 2017
Debt Instrument [Line Items]
Total payments	$ 509,919	$ 565,978
Mortgages [Member]
Debt Instrument [Line Items]
2,019	25,002
2,020	114,520
2,021	92,182
2,022	70,509
2,023	27,497
Thereafter	182,430
Total payments	$ 512,140

DEBT - Schedule of Debt (Detail

DEBT - Schedule of Debt (Details) - USD ($) $ in Thousands	12 Months Ended
	Apr. 30, 2018	Apr. 30, 2017
Debt Instrument [Line Items]
Carrying principal value	$ 706,140	$ 786,030
Fixed Rate Mortgages Payable [Member]
Debt Instrument [Line Items]
Carrying principal value	$ 489,401	629,535
Weighted average maturity in years	6 years 3 months 18 days
Variable Rate Mortgages Payable [Member]
Debt Instrument [Line Items]
Carrying principal value	$ 22,739	$ 57,708
Weighted average maturity in years	3 years 3 months 18 days
Mortgages [Member]
Debt Instrument [Line Items]
Weighted average interest rate	4.69%	4.71%
Construction Loans [Member]
Debt Instrument [Line Items]
Carrying principal value	$ 0	$ 41,737
Weighted average interest rate	0.00%	3.27%
Unsecured Debt [Member]
Debt Instrument [Line Items]
Carrying principal value	$ 194,000	$ 57,050
Unsecured Debt [Member] | Line of Credit [Member]
Debt Instrument [Line Items]
Carrying principal value	$ 124,000	$ 57,050
Weighted average maturity in years	3 years
Weighted average interest rate	3.35%	2.67%
Unsecured Debt [Member] | Medium-term Notes [Member]
Debt Instrument [Line Items]
Carrying principal value	$ 70,000	$ 0
Weighted average maturity in years	4 years
Weighted average interest rate	3.86%	0.00%

DERIVATIVE INSTRUMENT (Details)

DERIVATIVE INSTRUMENT (Details) - USD ($)	12 Months Ended
	Apr. 30, 2018	Apr. 30, 2017	Apr. 30, 2016
Derivative [Line Items]
Gain recognized in other comprehensive income (loss)	$ 1,600,000
Gain reclassified from AOCI into income	34,178,000	$ 34,314,000	$ 28,417,000
Cash flow hedge gain (loss) to be reclassified within twelve months	21,000
Interest Rate Swap [Member]
Derivative [Line Items]
Derivative instrument - interest rate swap	1,800,000
Designated as Hedging Instrument [Member] | Interest Rate Swap [Member]
Derivative [Line Items]
Notional amount	70,000,000
Accumulated Gain (Loss), Cash Flow Hedge, Including Noncontrolling Interest [Member] | Reclassification out of Accumulated Other Comprehensive Income [Member]
Derivative [Line Items]
Gain reclassified from AOCI into income	$ 152,000

TRANSACTIONS WITH RELATED PAR49

TRANSACTIONS WITH RELATED PARTIES - Narrative (Details) $ in Millions	12 Months Ended
	Apr. 30, 2018USD ($)property
Related Party Transaction [Line Items]
Number of real estate properties sold	28
BMO Capital Markets [Member]
Related Party Transaction [Line Items]
Number of real estate properties sold	27
Transaction fee | $	$ 1.8

ACQUISITIONS, DEVELOPMENT PRO50

ACQUISITIONS, DEVELOPMENT PROJECTS PLACED IN SERVICE AND DISPOSITIONS - Acquisitions (Details) - Acquisitions [Member] $ in Thousands	12 Months Ended
	Apr. 30, 2018USD ($)ft²unit	Apr. 30, 2017USD ($)
Acquisitions and development projects placed in service [Abstract]
Total acquisition costs	$ 373,050	$ 0
Form of consideration, cash	373,050
Investment allocation, land	54,098
Investment allocation, building	314,971
Investment allocation, intangible assets	3,981
Multi-Family Residential [Member] | 191 homes - Oxbo - St Paul, MN [Member]
Acquisitions and development projects placed in service [Abstract]
Total acquisition costs	61,500
Form of consideration, cash	61,500
Investment allocation, land	5,809
Investment allocation, building	54,910
Investment allocation, intangible assets	$ 781
Number of apartment units | unit	191
Area of real estate property | ft²	11,477
Multi-Family Residential [Member] | 500 homes - Park Place - Plymouth, MN [Member]
Acquisitions and development projects placed in service [Abstract]
Total acquisition costs	$ 92,250
Form of consideration, cash	92,250
Investment allocation, land	10,609
Investment allocation, building	80,711
Investment allocation, intangible assets	$ 930
Number of apartment units | unit	500
Multi-Family Residential [Member] | 274 homes - Dylan - Denver, CO [Member]
Acquisitions and development projects placed in service [Abstract]
Total acquisition costs	$ 90,600
Form of consideration, cash	90,600
Investment allocation, land	12,155
Investment allocation, building	77,249
Investment allocation, intangible assets	$ 1,196
Number of apartment units | unit	274
Multi-Family Residential [Member] | 390 homes - Westend - Denver, CO [Member]
Acquisitions and development projects placed in service [Abstract]
Total acquisition costs	$ 128,700
Form of consideration, cash	128,700
Investment allocation, land	25,525
Investment allocation, building	102,101
Investment allocation, intangible assets	$ 1,074
Number of apartment units | unit	390

ACQUISITIONS, DEVELOPMENT PRO51

ACQUISITIONS, DEVELOPMENT PROJECTS PLACED IN SERVICE AND DISPOSITIONS - Development Projects Placed In Service (Details) - Development Projects Placed in Service [Member] $ in Thousands	12 Months Ended
	Apr. 30, 2017USD ($)unit	Apr. 30, 2016USD ($)	Apr. 30, 2018USD ($)
Business Acquisition [Line Items]
Land	$ 6,455
Building	96,423
Development cost	102,878		$ 0
Multi-Family Residential [Member] | 71 France - Edina, MN [Member]
Business Acquisition [Line Items]
Land	4,721
Building	67,641
Development cost	$ 72,362
Number of apartment units | unit	241
Development costs paid	$ 1,500	$ 70,900
Project costs incurred to date	72,400
Interest in joint venture			52.60%
Multi-Family Residential [Member] | Monticello Crossings - Monticello, MN [Member]
Business Acquisition [Line Items]
Land	1,734
Building	28,782
Development cost	$ 30,516
Number of apartment units | unit	202
Development costs paid	$ 15,000	$ 15,500
Project costs incurred to date	$ 30,500

ACQUISITIONS, DEVELOPMENT PRO52

ACQUISITIONS, DEVELOPMENT PROJECTS PLACED IN SERVICE AND DISPOSITIONS - Property Dispositions (Details) $ in Thousands	3 Months Ended								12 Months Ended
	Apr. 30, 2018USD ($)ft²unit	Jan. 31, 2018USD ($)	Oct. 31, 2017USD ($)	Jul. 31, 2017USD ($)	Apr. 30, 2017USD ($)ft²property	Jan. 31, 2017USD ($)	Oct. 31, 2016USD ($)	Jul. 31, 2016USD ($)	Apr. 30, 2018USD ($)ft²propertyunit	Apr. 30, 2017USD ($)ft²property	Apr. 30, 2016USD ($)
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items]
Sales price	$ 44,185	$ 42,716	$ 41,866	$ 40,978	$ 42,811	$ 39,797	$ 39,195	$ 38,301	$ 169,745	$ 160,104	$ 145,500
Disposed of by Sale [Member]
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items]
Sales price									515,130	286,926
Gain/(Loss)									$ 184,268	74,949
Multi-Family Residential [Member] | Disposed of by Sale [Member]
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items]
Number of properties sold | property									15
Sales price									$ 18,913
Gain/(Loss)									3,343
Multi-Family Residential [Member] | Disposed of by Sale [Member] | Multifamily 327 Unit Minot Nd [Member]
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items]
Sales price									12,263
Gain/(Loss)									$ 701
Number of apartment units, dispositions | unit	327								327
Multi-Family Residential [Member] | Disposed of by Sale [Member] | Crown - Rochester, MN [Member]
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items]
Sales price									$ 5,700
Gain/(Loss)									$ 2,382
Number of apartment units, dispositions | unit	48								48
Multi-Family Residential [Member] | Disposed of by Sale [Member] | Northern Valley - Rochester, MN [Member]
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items]
Sales price									$ 950
Gain/(Loss)									$ 260
Number of apartment units, dispositions | unit	16								16
Multi-Family Residential [Member] | Disposed of by Sale [Member] | Minot Southgate Retail - Minot, ND [Member]
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items]
Deferred gain on sale of properties	$ 626								$ 626
Multi-Family Residential [Member] | Disposed of by Sale [Member] | Pinecone Villas Sartell Mn [Member]
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items]
Sales price										3,540
Gain/(Loss)										$ 808
Number of apartment units, dispositions | property					24					24
Senior Housing Properties [Member] | Disposed of by Sale [Member]
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items]
Number of properties sold | property									2
Healthcare [Member] | Disposed of by Sale [Member]
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items]
Number of properties sold | property									28
Sales price										$ 265,736
Gain/(Loss)										$ 62,746
Healthcare [Member] | Disposed of by Sale [Member] | Idaho Spring Creek Senior Housing Properties [Member]
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items]
Number of properties sold | property										9
Sales price										$ 43,900
Gain/(Loss)										$ 6,503
Area of real estate property | ft²					189,244					189,244
Healthcare [Member] | Disposed of by Sale [Member] | Five Edgewood Vista Senior Housing Properties [Member]
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items]
Number of properties sold | property										5
Sales price										$ 69,928
Gain/(Loss)										$ 19,535
Area of real estate property | ft²					426,652					426,652
Healthcare [Member] | Disposed of by Sale [Member] | Wyoming Senior Housing Portfolio [Member]
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items]
Number of properties sold | property										5
Sales price										$ 49,600
Gain/(Loss)										$ 4,131
Area of real estate property | ft²					286,854					286,854
Healthcare [Member] | Disposed of by Sale [Member] | Nine Edgewood Vista Senior Housing Properties [Member]
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items]
Number of properties sold | property										9
Sales price										$ 30,700
Gain/(Loss)										$ 6,619
Area of real estate property | ft²					169,001					169,001
Healthcare [Member] | Disposed of by Sale [Member] | Four Edgewood Vista Senior Housing Properties [Member]
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items]
Number of properties sold | property										4
Sales price										$ 35,348
Gain/(Loss)										$ 20,837
Area of real estate property | ft²					169,562					169,562
Healthcare [Member] | Disposed of by Sale [Member] | Healtheast St John And Woodwinds Maplewood And Woodbury Mn [Member]
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items]
Sales price										$ 20,700
Gain/(Loss)										$ 6,923
Area of real estate property | ft²					114,316					114,316
Healthcare [Member] | Disposed of by Sale [Member] | Sartell 2000 23 Rd Street South Sartell Mn [Member]
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items]
Sales price										$ 5,600
Gain/(Loss)										$ (323)
Area of real estate property | ft²					59,760					59,760
Healthcare [Member] | Disposed of by Sale [Member] | Legends At Heritage Place Sartell Mn [Member]
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items]
Sales price										$ 9,960
Gain/(Loss)										$ (1,479)
Area of real estate property | ft²					98,174					98,174
Retail Site [Member] | Disposed of by Sale [Member]
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items]
Number of properties sold | property									5
Unimproved Land [Member] | Disposed of by Sale [Member]
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items]
Number of properties sold | property									2
Unimproved Land [Member] | Disposed of by Sale [Member] | Bismarck 4916 - Bismarck, ND [Member]
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items]
Sales price									$ 3,175
Gain/(Loss)									(13)
Unimproved Land [Member] | Disposed of by Sale [Member] | Grand Chute, Wisconsin, Unimproved Land [Member]
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items]
Sales price										$ 250
Gain/(Loss)										(24)
Other [Member] | Disposed of by Sale [Member]
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items]
Sales price									493,042	17,400
Gain/(Loss)									180,938	11,419
Other [Member] | Disposed of by Sale [Member] | Minot Southgate Retail - Minot, ND [Member]
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items]
Sales price									3,440
Gain/(Loss)									$ 108
Area of real estate property | ft²	4,998								4,998
Other [Member] | Disposed of by Sale [Member] | Lexington Commerce Center Eagan Mn [Member]
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items]
Sales price									$ 9,000
Gain/(Loss)									$ 5,037
Area of real estate property | ft²	90,260								90,260
Other [Member] | Disposed of by Sale [Member] | Eagan 1440 Duckwood Medical - Eagan, MN [Member]
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items]
Sales price									$ 2,100
Gain/(Loss)									$ 214
Area of real estate property | ft²	17,640								17,640
Other [Member] | Disposed of by Sale [Member] | Edgewood Vista Hermantown Mn [Member]
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items]
Sales price									$ 36,884
Gain/(Loss)									$ 12,187
Area of real estate property | ft²	279,834								279,834
Other [Member] | Disposed of by Sale [Member] | Urbandale - Urbandale IA [Member]
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items]
Sales price									$ 16,700
Gain/(Loss)									$ 3,843
Area of real estate property | ft²	518,161								518,161
Other [Member] | Disposed of by Sale [Member] | Long Lake Road - Roseville MN [Member]
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items]
Sales price									$ 18,650
Gain/(Loss)									$ 5,884
Area of real estate property | ft²	36,053								36,053
Other [Member] | Disposed of by Sale [Member] | Healthcare Properties [Member]
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items]
Sales price									$ 370,268
Gain/(Loss)									$ 137,490
Area of real estate property | ft²	1,205,432								1,205,432
Deposits held in escrow	$ 2,500								$ 2,500
Other [Member] | Disposed of by Sale [Member] | Garden View - St. Paul MN [Member]
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items]
Sales price									14,000
Gain/(Loss)									$ 7,809
Area of real estate property | ft²	43,404								43,404
Other [Member] | Disposed of by Sale [Member] | Ritchie Medical - St. Paul MN [Member]
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items]
Sales price									$ 16,500
Gain/(Loss)									$ 6,081
Area of real estate property | ft²	52,116								52,116
Other [Member] | Disposed of by Sale [Member] | Bismarck 715 East Broadway - Bismarck, ND [Member]
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items]
Sales price									$ 5,500
Gain/(Loss)									$ 2,285
Area of real estate property | ft²	22,187								22,187
Other [Member] | Disposed of by Sale [Member] | Stone Container Fargo Nd [Member]
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items]
Sales price										13,400
Gain/(Loss)										$ 8,982
Area of real estate property | ft²					195,075					195,075
Other [Member] | Disposed of by Sale [Member] | Grand Forks Carmike Grand Forks Nd [Member]
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items]
Sales price										$ 4,000
Gain/(Loss)										$ 2,437
Area of real estate property | ft²					28,528					28,528
Real Estate [Member]
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items]
Cost of revenue									$ 73,034	$ 64,326	$ 58,148
Real Estate [Member] | Disposed of by Sale [Member]
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items]
Cost of revenue									330,862	211,977
Real Estate [Member] | Multi-Family Residential [Member] | Disposed of by Sale [Member]
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items]
Cost of revenue									15,570
Real Estate [Member] | Multi-Family Residential [Member] | Disposed of by Sale [Member] | Multifamily 327 Unit Minot Nd [Member]
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items]
Cost of revenue									11,562
Real Estate [Member] | Multi-Family Residential [Member] | Disposed of by Sale [Member] | Crown - Rochester, MN [Member]
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items]
Cost of revenue									3,318
Real Estate [Member] | Multi-Family Residential [Member] | Disposed of by Sale [Member] | Northern Valley - Rochester, MN [Member]
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items]
Cost of revenue									690
Real Estate [Member] | Multi-Family Residential [Member] | Disposed of by Sale [Member] | Pinecone Villas Sartell Mn [Member]
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items]
Cost of revenue										2,732
Real Estate [Member] | Healthcare [Member] | Disposed of by Sale [Member]
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items]
Cost of revenue										202,990
Real Estate [Member] | Healthcare [Member] | Disposed of by Sale [Member] | Idaho Spring Creek Senior Housing Properties [Member]
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items]
Cost of revenue										37,397
Real Estate [Member] | Healthcare [Member] | Disposed of by Sale [Member] | Five Edgewood Vista Senior Housing Properties [Member]
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items]
Cost of revenue										50,393
Real Estate [Member] | Healthcare [Member] | Disposed of by Sale [Member] | Wyoming Senior Housing Portfolio [Member]
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items]
Cost of revenue										45,469
Real Estate [Member] | Healthcare [Member] | Disposed of by Sale [Member] | Nine Edgewood Vista Senior Housing Properties [Member]
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items]
Cost of revenue										24,081
Real Estate [Member] | Healthcare [Member] | Disposed of by Sale [Member] | Four Edgewood Vista Senior Housing Properties [Member]
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items]
Cost of revenue										14,511
Real Estate [Member] | Healthcare [Member] | Disposed of by Sale [Member] | Healtheast St John And Woodwinds Maplewood And Woodbury Mn [Member]
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items]
Cost of revenue										13,777
Real Estate [Member] | Healthcare [Member] | Disposed of by Sale [Member] | Sartell 2000 23 Rd Street South Sartell Mn [Member]
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items]
Cost of revenue										5,923
Real Estate [Member] | Healthcare [Member] | Disposed of by Sale [Member] | Legends At Heritage Place Sartell Mn [Member]
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items]
Cost of revenue										11,439
Real Estate [Member] | Unimproved Land [Member] | Disposed of by Sale [Member] | Bismarck 4916 - Bismarck, ND [Member]
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items]
Cost of revenue									3,188
Real Estate [Member] | Unimproved Land [Member] | Disposed of by Sale [Member] | Grand Chute, Wisconsin, Unimproved Land [Member]
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items]
Cost of revenue										274
Real Estate [Member] | Other [Member] | Disposed of by Sale [Member]
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items]
Cost of revenue									312,104	5,981
Real Estate [Member] | Other [Member] | Disposed of by Sale [Member] | Minot Southgate Retail - Minot, ND [Member]
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items]
Cost of revenue									3,332
Real Estate [Member] | Other [Member] | Disposed of by Sale [Member] | Lexington Commerce Center Eagan Mn [Member]
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items]
Cost of revenue									3,963
Real Estate [Member] | Other [Member] | Disposed of by Sale [Member] | Eagan 1440 Duckwood Medical - Eagan, MN [Member]
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items]
Cost of revenue									1,886
Real Estate [Member] | Other [Member] | Disposed of by Sale [Member] | Edgewood Vista Hermantown Mn [Member]
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items]
Cost of revenue									24,697
Real Estate [Member] | Other [Member] | Disposed of by Sale [Member] | Urbandale - Urbandale IA [Member]
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items]
Cost of revenue									12,857
Real Estate [Member] | Other [Member] | Disposed of by Sale [Member] | Long Lake Road - Roseville MN [Member]
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items]
Cost of revenue									12,766
Real Estate [Member] | Other [Member] | Disposed of by Sale [Member] | Healthcare Properties [Member]
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items]
Cost of revenue									232,778
Real Estate [Member] | Other [Member] | Disposed of by Sale [Member] | Garden View - St. Paul MN [Member]
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items]
Cost of revenue									6,191
Real Estate [Member] | Other [Member] | Disposed of by Sale [Member] | Ritchie Medical - St. Paul MN [Member]
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items]
Cost of revenue									10,419
Real Estate [Member] | Other [Member] | Disposed of by Sale [Member] | Bismarck 715 East Broadway - Bismarck, ND [Member]
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items]
Cost of revenue									$ 3,215
Real Estate [Member] | Other [Member] | Disposed of by Sale [Member] | Stone Container Fargo Nd [Member]
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items]
Cost of revenue										4,418
Real Estate [Member] | Other [Member] | Disposed of by Sale [Member] | Grand Forks Carmike Grand Forks Nd [Member]
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items]
Cost of revenue										$ 1,563

OPERATING SEGMENT (Details)

OPERATING SEGMENT (Details) $ in Thousands	3 Months Ended								6 Months Ended	12 Months Ended
	Apr. 30, 2018USD ($)	Jan. 31, 2018USD ($)	Oct. 31, 2017USD ($)	Jul. 31, 2017USD ($)	Apr. 30, 2017USD ($)	Jan. 31, 2017USD ($)	Oct. 31, 2016USD ($)	Jul. 31, 2016USD ($)	Oct. 31, 2017segment	Apr. 30, 2018USD ($)	Apr. 30, 2017USD ($)	Apr. 30, 2016USD ($)segment	Apr. 30, 2015USD ($)
Segment Reporting Information [Line Items]
Number of reportable segments | segment									2			5
Segment Reporting Information, Profit (Loss) [Abstract]
REVENUE	$ 44,185	$ 42,716	$ 41,866	$ 40,978	$ 42,811	$ 39,797	$ 39,195	$ 38,301		$ 169,745	$ 160,104	$ 145,500
Net operating income										96,711	95,778	87,352
Casualty loss										(500)	(414)	(238)
Depreciation and amortization										(82,070)	(44,253)	(39,273)
Impairment of real estate investments										(18,065)	(57,028)	(5,543)
General and administrative expenses										(14,203)	(15,871)	(13,498)
Acquisition and investment related costs										(51)	(3,276)	(830)
Interest expense										(34,178)	(34,314)	(28,417)
Loss on extinguishment of debt										(940)	(1,651)	(106)
Interest and other income										1,508	1,146	385
Loss before gain on sale of real estate and other investments, gain on bargain purchase and income from discontinued operations										(57,314)	(64,929)	(3,882)
Gain on sale of real estate and other investments										20,120	18,701	9,640
Gain on bargain purchase										0	0	3,424
Income (loss) from continuing operations										(37,194)	(46,228)	9,182
Income from discontinued operations										164,823	76,753	67,420
NET INCOME										127,629	30,525	76,602
Segment Assets [Abstract]
Property owned	1,669,764				1,358,529					1,669,764	1,358,529
Less accumulated depreciation	(311,324)				(255,599)					(311,324)	(255,599)
Total property owned	1,358,440				1,102,930					1,358,440	1,102,930
Assets held for sale and assets of discontinued operations	0				283,023					0	283,023
Cash and cash equivalents	11,891				28,819					11,891	28,819	66,698	$ 48,970
Restricted cash	4,225				27,981					4,225	27,981
Other assets	30,297				13,306					30,297	13,306
Unimproved land	11,476				18,455					11,476	18,455
Mortgage loans receivable	10,329				0					10,329	0
TOTAL ASSETS	1,426,658				1,474,514					1,426,658	1,474,514
Multi-Family Residential [Member] | Operating Segments [Member]
Segment Reporting Information, Profit (Loss) [Abstract]
REVENUE										159,983	142,214	129,049
Net operating income										89,523	81,319	74,287
Segment Assets [Abstract]
Property owned	1,606,421				1,260,541					1,606,421	1,260,541
Less accumulated depreciation	(294,477)				(232,592)					(294,477)	(232,592)
Total property owned	1,311,944				1,027,949					1,311,944	1,027,949
All Other [Member] | Operating Segments [Member]
Segment Reporting Information, Profit (Loss) [Abstract]
REVENUE										9,762	17,890	16,451
Net operating income										7,188	14,459	13,065
Segment Assets [Abstract]
Property owned	63,343				97,988					63,343	97,988
Less accumulated depreciation	(16,847)				(23,007)					(16,847)	(23,007)
Total property owned	$ 46,496				$ 74,981					46,496	74,981
Real Estate [Member]
Segment Reporting Information, Profit (Loss) [Abstract]
Cost of revenue										(73,034)	(64,326)	(58,148)
Cost of revenue										(73,034)	(64,326)	(58,148)
Real Estate [Member] | Multi-Family Residential [Member] | Operating Segments [Member]
Segment Reporting Information, Profit (Loss) [Abstract]
Cost of revenue										(70,460)	(60,895)	(54,762)
Cost of revenue										(70,460)	(60,895)	(54,762)
Real Estate [Member] | All Other [Member] | Operating Segments [Member]
Segment Reporting Information, Profit (Loss) [Abstract]
Cost of revenue										(2,574)	(3,431)	(3,386)
Cost of revenue										(2,574)	(3,431)	(3,386)
Management Service [Member]
Segment Reporting Information, Profit (Loss) [Abstract]
Cost of revenue										(5,526)	(5,046)	(3,714)
Cost of revenue										$ (5,526)	$ (5,046)	$ (3,714)

DISCONTINUED OPERATIONS (Detail

DISCONTINUED OPERATIONS (Details) $ in Thousands	3 Months Ended								12 Months Ended
	Apr. 30, 2018USD ($)	Jan. 31, 2018USD ($)	Oct. 31, 2017USD ($)	Jul. 31, 2017USD ($)	Apr. 30, 2017USD ($)	Jan. 31, 2017USD ($)	Oct. 31, 2016USD ($)	Jul. 31, 2016USD ($)	Apr. 30, 2018USD ($)property	Apr. 30, 2017USD ($)property	Apr. 30, 2016USD ($)property
Revenues [Abstract]
TOTAL REVENUE	$ 44,185	$ 42,716	$ 41,866	$ 40,978	$ 42,811	$ 39,797	$ 39,195	$ 38,301	$ 169,745	$ 160,104	$ 145,500
EXPENSES
Property operating expenses, excluding real estate taxes									54,292	47,587	43,741
Real estate taxes									18,742	16,739	14,407
Depreciation and amortization									82,070	44,253	39,273
Impairment of real estate investments									18,065	57,028	5,543
TOTAL EXPENSES									193,449	190,214	121,244
Operating income									(23,704)	(30,110)	24,256
Interest expense									(34,178)	(34,314)	(28,417)
Gain (loss) on extinguishment of debt									(940)	(1,651)	(106)
Interest income									1,197	366	78
Other income									311	780	307
Gain on sale of discontinued operations									183,687	74,847	33,423
INCOME FROM DISCONTINUED OPERATIONS									164,823	76,753	67,420
Property Sale Data
Gain on sale of discontinued operations									$ 183,687	$ 74,847	33,423
Discontinued Operations [Member]
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items]
Number of real estate properties classified as discontinued operations | property									27	0
Revenues [Abstract]
Real estate rentals									$ 19,744	$ 43,984	69,623
EXPENSES
Property operating expenses, excluding real estate taxes									6,350	9,051	17,470
Real estate taxes									5,191	6,848	11,611
Depreciation and amortization									8,445	10,772	24,725
Impairment of real estate investments									0	0	440
TRS senior housing expenses									0	3,113	3,366
TOTAL EXPENSES									20,192	30,358	59,569
Operating income									11,202	32,954	37,443
Interest expense									(4,172)	(11,628)	(25,757)
Gain (loss) on extinguishment of debt									(6,508)	(3,238)	29,336
Interest income									661	2,179	2,179
Other income									73	340	437
Income from discontinued operations before gain on sale									1,256	20,607	43,638
Gain on sale of discontinued operations									163,567	56,146	23,782
INCOME FROM DISCONTINUED OPERATIONS									164,823	76,753	67,420
Default interest											4,700
Non-recourse loan											122,600
Gain on extinguishment of debt from transfer of ownership											$ 36,500
Number of loan properties | property											9
Property Sale Data
Sales price									437,652	239,436	$ 373,460
Net book value and sales costs									(274,085)	(183,290)	(349,678)
Gain on sale of discontinued operations									163,567	56,146	23,782
Discontinued Operations [Member] | All Other [Member]
EXPENSES
INCOME FROM DISCONTINUED OPERATIONS									164,823	$ 76,753	$ 67,420
Discontinued Operations, Disposed of by Sale [Member] | Office [Member]
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items]
Number of real estate properties classified as discontinued operations | property											48
Discontinued Operations, Disposed of by Sale [Member] | Retail Site [Member]
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items]
Number of real estate properties classified as discontinued operations | property											17
Discontinued Operations, Disposed of by Sale [Member] | Commercial Healthcare [Member]
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items]
Number of real estate properties classified as discontinued operations | property											1
Discontinued Operations, Disposed of by Sale [Member] | Senior Housing Properties [Member]
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items]
Number of real estate properties disposed | property										32
Discontinued Operations, Held-for-sale [Member] | Senior Housing Properties [Member]
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items]
Number of properties classified as held for sale | property											34
Tenant Reimbursement [Member] | Discontinued Operations [Member]
Revenues [Abstract]
TOTAL REVENUE									11,650	$ 16,110	$ 23,434
TRS Senior Housing [Member] | Discontinued Operations [Member]
Revenues [Abstract]
TOTAL REVENUE									0	3,218	3,955
Real Estate [Member]
EXPENSES
Cost of revenue									73,034	64,326	58,148
Real Estate [Member] | Discontinued Operations [Member]
Revenues [Abstract]
TOTAL REVENUE									31,394	63,312	97,012
Management Service [Member]
EXPENSES
Cost of revenue									5,526	5,046	3,714
Management Service [Member] | Discontinued Operations [Member]
EXPENSES
Cost of revenue									$ 206	$ 574	$ 1,957

DISCONTINUED OPERATIONS - Recon

DISCONTINUED OPERATIONS - Reconciliation of Assets and Liabilities of Discontinued Operations (Details) - USD ($) $ in Thousands	Apr. 30, 2018	Apr. 30, 2017
Carrying amounts of major classes of liabilities included as part of discontinued operations
Total liabilities of the disposal group classified as held for sale on the balance sheet	$ 0	$ 130,904
Discontinued Operations, Held-for-sale [Member]
Carrying amounts of major classes of assets included as part of discontinued operations
Property owned and intangible assets, net of accumulated depreciation and amortization		255,466
Restricted cash		728
Other Assets		12,750
Total major classes of assets of the discontinued operations		268,944
Other assets included in the disposal group classified as held for sale		14,079
Total assets of the disposal group classified as held for sale on the balance sheet		283,023
Carrying amounts of major classes of liabilities included as part of discontinued operations
Accounts payable and accrued expenses		4,835
Mortgages payable		112,208
Other		7,977
Total major classes of liabilities of the discontinued operations		125,020
Other liabilities included in the disposal group classified as held for sale		5,884
Total liabilities of the disposal group classified as held for sale on the balance sheet		$ 130,904

EARNINGS PER SHARE (Details)

EARNINGS PER SHARE (Details) $ / shares in Units, shares in Thousands, $ in Thousands	3 Months Ended								12 Months Ended
	Apr. 30, 2018USD ($)$ / shares	Jan. 31, 2018USD ($)$ / shares	Oct. 31, 2017USD ($)$ / shares	Jul. 31, 2017USD ($)$ / shares	Apr. 30, 2017USD ($)$ / shares	Jan. 31, 2017USD ($)$ / shares	Oct. 31, 2016USD ($)$ / shares	Jul. 31, 2016USD ($)$ / shares	Apr. 30, 2018USD ($)$ / sharesshares	Apr. 30, 2017USD ($)$ / sharesshares	Apr. 30, 2016USD ($)$ / sharesshares
Earnings Per Share [Abstract]
Ratio of units exchanged for shares									1
Net Income (Loss) Attributable to Parent [Abstract]
Income (loss) from continuing operations – Investors Real Estate Trust									$ (30,266)	$ (24,473)	$ 11,553
Income from discontinued operations – Investors Real Estate Trust									147,054	67,820	60,453
Net income attributable to Investors Real Estate Trust	$ (20,874)	$ 136,105	$ 12,821	$ (11,264)	$ 30,280	$ 23,110	$ 11,600	$ (21,643)	116,788	43,347	72,006
Dividends to preferred shareholders									(8,569)	(10,546)	(11,514)
Redemption of preferred shares									(3,657)	(1,435)	0
NET INCOME AVAILABLE TO COMMON SHAREHOLDERS	$ (22,579)	$ 134,331	$ 6,360	$ (13,550)	$ 27,994	$ 19,172	$ 8,722	$ (24,522)	104,562	31,366	60,492
Noncontrolling interests – Operating Partnership									12,702	4,059	7,032
Numerator for diluted earnings per share									$ 117,264	$ 35,425	$ 67,524
DENOMINATOR
Denominator for basic earnings per share weighted average shares (in shares) | shares									119,977	121,169	123,094
Effect of convertible operating partnership units (in shares) | shares									14,617	16,130	14,278
Denominator for diluted earnings per share (in shares) | shares									134,594	137,299	137,372
Earnings (loss) per common share from continuing operations – Investors Real Estate Trust – basic and diluted (in dollars per share) | $ / shares									$ (0.36)	$ (0.30)	$ 0
Earnings per common share from discontinued operations – Investors Real Estate Trust – basic and diluted (in dollars per share) | $ / shares									1.23	0.56	0.49
NET INCOME PER COMMON SHARE – BASIC & DILUTED (in dollars per share) | $ / shares	$ (0.19)	$ 1.12	$ 0.05	$ (0.11)	$ 0.23	$ 0.16	$ 0.07	$ (0.20)	$ 0.87	$ 0.26	$ 0.49

RETIREMENT PLANS (Details)

RETIREMENT PLANS (Details) - USD ($) $ in Thousands	12 Months Ended
	Apr. 30, 2018	Apr. 30, 2017	Apr. 30, 2016
Retirement Benefits [Abstract]
Maximum contribution each employee, towards 401(k) plan	5.00%
Employer contribution towards profit sharing plan and 401(k) plan	$ 838	$ 565	$ 836
Maximum contribution each employee, towards 401(k) plan, increase	1.00%
Discretionary employer contribution			3.50%

COMMITMENTS AND CONTINGENCIES (

COMMITMENTS AND CONTINGENCIES (Details) $ in Millions	12 Months Ended
	Apr. 30, 2018USD ($)propertyunitjoint_venture	Jun. 27, 2018USD ($)	Apr. 30, 2017USD ($)
Real Estate Properties [Line Items]
Number of real estate properties | property	99
Redemption basis	1
Number of consecutive trading days for valuation	10 days
Aggregate redemption value of Units of operating partnership owned by limited partners	$ 74.7		$ 95.1
Number of joint ventures with buy sell options | joint_venture	1
Subsequent Event [Member]
Real Estate Properties [Line Items]
Undeferred taxable capital gains		$ 30
Subject to Restrictions on Taxable Dispositions [Member]
Real Estate Properties [Line Items]
Number of real estate properties | property	26
Number of apartment homes (approximately) | unit	4,266
Real estate investment amount of properties (net of accumulated depreciation)	$ 558.6
Southgate - Minot, ND [Member]
Real Estate Properties [Line Items]
Commitment period for joint venture acquisition	4 years

FAIR VALUE MEASUREMENTS (Detail

FAIR VALUE MEASUREMENTS (Details) $ in Thousands	Apr. 30, 2018USD ($)	Apr. 30, 2017USD ($)
FINANCIAL LIABILITIES
Mortgages payable	$ 509,919	$ 565,978
Carrying Amount [Member]
FINANCIAL ASSETS
Cash and cash equivalents	11,891	28,819
FINANCIAL LIABILITIES
Other debt, including other debt related to assets held for sale	0	49,637
Revolving line of credit	124,000	57,050
Term loan	70,000	0
Mortgages payable	509,919	665,440
Mortgages payable related to assets held for sale	0	21,803
Fair Value [Member]
FINANCIAL ASSETS
Cash and cash equivalents	11,891	28,819
FINANCIAL LIABILITIES
Other debt, including other debt related to assets held for sale	0	49,637
Revolving line of credit	124,000	57,050
Term loan		0
Mortgages payable	510,803	680,941
Mortgages payable related to assets held for sale	0	21,861
Recurring [Member]
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Derivative instrument - interest rate swap	1,779
Recurring [Member] | Level 1 [Member]
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Derivative instrument - interest rate swap	0
Recurring [Member] | Level 2 [Member]
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Derivative instrument - interest rate swap	1,779
Recurring [Member] | Level 3 [Member]
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Derivative instrument - interest rate swap	0
Nonrecurring [Member]
Fair Value Measurements on a Nonrecurring Basis [Abstract]
Real estate investments valued at fair value	52,145	506
Real estate held for sale		10,891
Nonrecurring [Member] | Level 1 [Member]
Fair Value Measurements on a Nonrecurring Basis [Abstract]
Real estate investments valued at fair value	0	0
Real estate held for sale		0
Nonrecurring [Member] | Level 2 [Member]
Fair Value Measurements on a Nonrecurring Basis [Abstract]
Real estate investments valued at fair value	0	0
Real estate held for sale		0
Nonrecurring [Member] | Level 3 [Member]
Fair Value Measurements on a Nonrecurring Basis [Abstract]
Real estate investments valued at fair value	$ 52,145	506
Real estate held for sale		$ 10,891
Measurement Input, Cap Rate [Member] | Nonrecurring [Member]
Fair Value Measurements on a Nonrecurring Basis [Abstract]
Capitalization rate (as a percent)		0.070

SHAREHOLDERS_ EQUITY (Details)

SHAREHOLDERS’ EQUITY (Details) - USD ($)	Dec. 05, 2017	Dec. 07, 2016	Apr. 30, 2018	Apr. 30, 2017
Class of Stock [Line Items]
Noncontrolling interests - Operating Partnership (in shares)			14,099,434	15,617,216
Conversion of Units to Common Shares. [Abstract]
Units converted to common stock (in shares)			1,500,000	165,000
Units converted to common stock			$ 8,800,000	$ 966,000
Units converted to common stock, unit price (in dollars per share)			$ 5.89	$ 5.84
Equity Awards
Common shares outstanding (in shares)			119,525,975	121,199,299
Share Repurchase Program [Member]
Share Repurchase Program
Authorized share repurchase amount		$ 50,000,000
Repurchase period	1 year	1 year
Shares repurchased and retired (in shares)			1,800,000	778,000
Shares repurchased and retired			$ 9,900,000	$ 4,500,000
Share price (in dollars per share)			$ 5.56	$ 5.77
2015 Incentive Plan [Member]
Equity Awards
Forfeited (in shares)			32,000	274,000
2015 Incentive Plan [Member] | Performance Shares [Member]
Equity Awards
Issued (in shares)			93,000	604,000
Grant-date value			$ 536,000	$ 2,600,000
2008 Incentive Award Plan [Member] | Performance Shares [Member]
Equity Awards
Issued (in shares)				59,000
Grant-date value				$ 352,000
Series C Preferred Stock [Member]
Cumulative Redeemable Preferred Shares of Beneficial Interest [Abstract]
Preferred shares issued (in shares)			4,118,460	0
Distribution rate percentage			6.625%
Series B Preferred Stock [Member]
Cumulative Redeemable Preferred Shares of Beneficial Interest [Abstract]
Preferred shares issued (in shares)			0	4,600,000
Distribution rate percentage			7.95%
Shares redeemed (in shares)			4,600,000
Series A Preferred Stock [Member]
Cumulative Redeemable Preferred Shares of Beneficial Interest [Abstract]
Distribution rate percentage				8.25%
Aggregate redemption price				$ 29,200,000
Exercise of Exchange Rights [Member]
Conversion of Units to Common Shares. [Abstract]
Units converted to common stock (in shares)				503,000
Units converted to common stock				$ 875,000

QUARTERLY RESULTS OF CONSOLID61

QUARTERLY RESULTS OF CONSOLIDATED OPERATIONS (unaudited) (Details) - USD ($) $ / shares in Units, $ in Thousands	3 Months Ended								12 Months Ended
	Apr. 30, 2018	Jan. 31, 2018	Oct. 31, 2017	Jul. 31, 2017	Apr. 30, 2017	Jan. 31, 2017	Oct. 31, 2016	Jul. 31, 2016	Apr. 30, 2018	Apr. 30, 2017	Apr. 30, 2016
Selected Quarterly Financial Information [Abstract]
REVENUE	$ 44,185	$ 42,716	$ 41,866	$ 40,978	$ 42,811	$ 39,797	$ 39,195	$ 38,301	$ 169,745	$ 160,104	$ 145,500
Net income (loss) attributable to Investors Real Estate Trust	(20,874)	136,105	12,821	(11,264)	30,280	23,110	11,600	(21,643)	116,788	43,347	72,006
Net income (loss) available to common shareholders	$ (22,579)	$ 134,331	$ 6,360	$ (13,550)	$ 27,994	$ 19,172	$ 8,722	$ (24,522)	$ 104,562	$ 31,366	$ 60,492
Net income (loss) per common share - basic & diluted (in dollars per share)	$ (0.19)	$ 1.12	$ 0.05	$ (0.11)	$ 0.23	$ 0.16	$ 0.07	$ (0.20)	$ 0.87	$ 0.26	$ 0.49

SHARE BASED COMPENSATION (Detai

SHARE BASED COMPENSATION (Details) - USD ($) $ / shares in Units, $ in Thousands	Jun. 21, 2017	May 01, 2017	Apr. 30, 2018	Apr. 30, 2017	Apr. 30, 2016
Share-based Compensation Arrangement by Share-based Payment Award, Fair Value Assumptions and Methodology [Abstract]
Stock based compensation expense			$ 1,587	$ 6	$ 2,256
2018 LTIP Awards [Member] | Performance Shares [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Performance period (in years)	3 years
Share-based Compensation Arrangement by Share-based Payment Award, Fair Value Assumptions and Methodology [Abstract]
Volatility rate (in hundredths)	27.30%
Risk free interest rate	1.48%
Expected life	2 years 10 months 10 days
Share price (in dollars per share)	$ 6.15
2015 Incentive Plan [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Number of shares (in shares)			4,250,000
Term of award			10 years
Share-based Compensation Arrangement by Share-based Payment Award, Equity Instruments Other than Options, Nonvested, Number of Shares [Roll Forward]
Forfeited (in shares)			(32,000)	(274,000)
2015 Incentive Plan [Member] | Performance Shares [Member]
Share-based Compensation Arrangement by Share-based Payment Award, Equity Instruments Other than Options, Nonvested, Number of Shares [Roll Forward]
Granted (in share)			93,000	604,000
2015 Incentive Plan [Member] | 2018 LTIP Awards [Member] | Restricted Stock [Member]
Share-based Compensation Arrangement by Share-based Payment Award, Fair Value Assumptions and Methodology [Abstract]
Awards vested during period			$ 423
Total compensation cost related to non-vested share awards			$ 206
Weighted average period to recognize cost			6 months
Award vesting period			3 years
Share-based Compensation Arrangement by Share-based Payment Award, Equity Instruments Other than Options, Nonvested, Number of Shares [Roll Forward]
Granted (in share)	57,693	16,447	69,941
2015 Incentive Plan [Member] | 2018 LTIP Awards [Member] | Restricted Stock [Member] | Vesting Periods One [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Restricted shares vesting percentage	33.33%	33.33%
2015 Incentive Plan [Member] | 2018 LTIP Awards [Member] | Restricted Stock [Member] | Vesting Periods Two [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Restricted shares vesting percentage	33.33%	33.33%
2015 Incentive Plan [Member] | 2018 LTIP Awards [Member] | Restricted Stock [Member] | Vesting Periods Three [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Restricted shares vesting percentage	33.33%	33.33%
2015 Incentive Plan [Member] | 2018 LTIP Awards [Member] | Performance Shares [Member]
Share-based Compensation Arrangement by Share-based Payment Award, Equity Instruments Other than Options, Nonvested, Number of Shares [Roll Forward]
Granted (in share)	57,693
Unvested, end of period (in shares)	115,386
2015 Incentive Plan [Member] | 2018 LTIP Awards [Member] | Relative Total Shareholder Return Performance Shares [Member]
Share-based Compensation Arrangement by Share-based Payment Award, Equity Instruments Other than Options, Nonvested, Number of Shares [Roll Forward]
Granted (in share)	57,693
Restricted Share Awards [Member] | Restricted Stock [Member]
Share-based Compensation Arrangement by Share-based Payment Award, Fair Value Assumptions and Methodology [Abstract]
Awards vested during period			$ 1,100	$ 127	$ 647
Total compensation cost related to non-vested share awards			$ 252
Weighted average period to recognize cost			1 year 1 month 6 days
Share-based Compensation Arrangement by Share-based Payment Award, Equity Instruments Other than Options, Nonvested, Number of Shares [Roll Forward]
Unvested, beginning of period (in shares)		195,138	195,138	0	107,536
Granted (in share)			91,364	253,263
Vested (in shares)			(185,431)	(21,308)	(107,536)
Forfeited (in shares)			(2,019)	(36,817)
Unvested, end of period (in shares)			99,052	195,138	0
Share-based Compensation Arrangement by Share-based Payment Award, Equity Instruments Other than Options, Nonvested, Weighted Average Grant Date Fair Value [Abstract]
Unvested, beginning of period (in dollars per share)					$ 7.17
Granted (in dollars per share)			$ 5.75	$ 6.16
Vested (in dollars per share)			5.99	5.95	$ 7.17
Forfeited (in dollars per share)			6.24	$ 6.24
Unvested, end of period (in dollars per share)			$ 6.12
Long Term Incentive Plan [Member] | 2018 LTIP Awards [Member]
Share based awards with market conditions, grant date fair value [Abstract]
Grant date fair value			$ 818
Share based awards with market conditions, unamortized value [Abstract]
Unamortized value			577	$ 300
Trustee Awards [Member] | Unrestricted Stock [Member]
Share-based Compensation Arrangement by Share-based Payment Award, Fair Value Assumptions and Methodology [Abstract]
Stock based compensation expense			$ 389	$ 365	$ 352

SCHEDULE III - REAL ESTATE AN63

SCHEDULE III - REAL ESTATE AND ACCUMULATED DEPRECIATION (Details) - USD ($) $ in Thousands	12 Months Ended
	Apr. 30, 2018	Apr. 30, 2017	Apr. 30, 2016	Apr. 30, 2018	Apr. 30, 2017	Apr. 30, 2016	Apr. 30, 2015
Real Estate And Accumulated Depreciation [Abstract]
Encumbrances				$ 512,140
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate and Accumulated Depreciation, Initial Cost [Abstract]
Land				152,834
Buildings & Improvements				1,330,889
Costs capitalized subsequent to acquisition				197,517
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate, Gross [Abstract]
Land				175,438
Buildings & Improvements				1,505,802
Total	$ 1,681,240			1,681,240
Accumulated Depreciation	(311,324)	$ (255,599)	$ (237,859)	(311,324)	$ (255,599)	$ (237,859)	$ (212,826)
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate [Roll Forward]
Write down of asset and accumulated depreciation on impaired assets	(8,597)	(7,144)	0
Other	(74)	0	0
Balance at close of year	1,681,240
Total real estate investments				1,380,245	1,121,385
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate, Accumulated Depreciation [Roll Forward]
Balance at beginning of year	311,324	255,599	237,859	311,324	255,599	237,859	212,826
Additions during year [Abstract]
Provisions for depreciation	78,785	42,960	37,846
Deductions during year [Abstract]
Accumulated depreciation on real estate sold or classified as held for sale	(11,033)	(14,687)	(9,957)
Write down of asset and accumulated depreciation on impaired assets	(8,597)	(7,144)	0
Other	(3,430)	(3,389)	(2,856)
Balance at close of year	311,324	255,599	237,859
Net basis of real estate investments for federal income tax purposes				1,500,000	1,400,000	1,600,000
Unimproved Land [Member]
Real Estate And Accumulated Depreciation [Abstract]
Encumbrances				0
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate and Accumulated Depreciation, Initial Cost [Abstract]
Land				10,427
Buildings & Improvements				0
Costs capitalized subsequent to acquisition				1,049
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate, Gross [Abstract]
Land				11,476
Buildings & Improvements				0
Total	18,455	20,939	25,827	11,476	18,455	20,939	25,827
Accumulated Depreciation	0			0
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate [Roll Forward]
Balance at beginning of year	18,455	20,939	25,827
Improvements and Other	0	1,024	205
Cost of real estate sold	(1,000)	0	(442)
Impairment charge	(2,617)	(3,508)	(1,285)
Transfers	(3,288)	0	(1,632)
Development placed in service	0	0	(1,734)
Balance at close of year	11,476	18,455	20,939
Total real estate investments				1,369,916	1,121,385	1,204,654
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate, Accumulated Depreciation [Roll Forward]
Balance at beginning of year	0			0
Deductions during year [Abstract]
Balance at close of year	0
Unimproved Land [Member] | Renaissance Heights - Williston, ND [Member]
Real Estate And Accumulated Depreciation [Abstract]
Encumbrances				0
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate and Accumulated Depreciation, Initial Cost [Abstract]
Land				750
Buildings & Improvements				0
Costs capitalized subsequent to acquisition				0
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate, Gross [Abstract]
Land				750
Buildings & Improvements				0
Total	750			750
Accumulated Depreciation	0			0
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate [Roll Forward]
Balance at close of year	750
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate, Accumulated Depreciation [Roll Forward]
Balance at beginning of year	0			0
Deductions during year [Abstract]
Balance at close of year	0
Unimproved Land [Member] | Badger Hills - Rochester, MN [Member]
Real Estate And Accumulated Depreciation [Abstract]
Encumbrances				0
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate and Accumulated Depreciation, Initial Cost [Abstract]
Land				1,050
Buildings & Improvements				0
Costs capitalized subsequent to acquisition				354
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate, Gross [Abstract]
Land				1,404
Buildings & Improvements				0
Total	1,404			1,404
Accumulated Depreciation	0			0
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate [Roll Forward]
Balance at close of year	1,404
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate, Accumulated Depreciation [Roll Forward]
Balance at beginning of year	0			0
Deductions during year [Abstract]
Balance at close of year	0
Unimproved Land [Member] | Creekside Crossing - Bismarck, ND [Member]
Real Estate And Accumulated Depreciation [Abstract]
Encumbrances				0
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate and Accumulated Depreciation, Initial Cost [Abstract]
Land				3,577
Buildings & Improvements				0
Costs capitalized subsequent to acquisition				693
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate, Gross [Abstract]
Land				4,270
Buildings & Improvements				0
Total	4,270			4,270
Accumulated Depreciation	0			0
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate [Roll Forward]
Balance at close of year	4,270
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate, Accumulated Depreciation [Roll Forward]
Balance at beginning of year	0			0
Deductions during year [Abstract]
Balance at close of year	0
Unimproved Land [Member] | Grand Forks Grand Forks, ND [Member]
Real Estate And Accumulated Depreciation [Abstract]
Encumbrances				0
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate and Accumulated Depreciation, Initial Cost [Abstract]
Land				2,798
Buildings & Improvements				0
Costs capitalized subsequent to acquisition				2
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate, Gross [Abstract]
Land				2,800
Buildings & Improvements				0
Total	2,800			2,800
Accumulated Depreciation	0			0
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate [Roll Forward]
Balance at close of year	2,800
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate, Accumulated Depreciation [Roll Forward]
Balance at beginning of year	0			0
Deductions during year [Abstract]
Balance at close of year	0
Unimproved Land [Member] | Minot 1525 24th Ave SW - Minot, ND [Member]
Real Estate And Accumulated Depreciation [Abstract]
Encumbrances				0
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate and Accumulated Depreciation, Initial Cost [Abstract]
Land				506
Buildings & Improvements				0
Costs capitalized subsequent to acquisition				0
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate, Gross [Abstract]
Land				506
Buildings & Improvements				0
Total	506			506
Accumulated Depreciation	0			0
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate [Roll Forward]
Balance at close of year	506
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate, Accumulated Depreciation [Roll Forward]
Balance at beginning of year	0			0
Deductions during year [Abstract]
Balance at close of year	0
Unimproved Land [Member] | Rapid City Unimproved- Rapid City, SD [Member]
Real Estate And Accumulated Depreciation [Abstract]
Encumbrances				0
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate and Accumulated Depreciation, Initial Cost [Abstract]
Land				1,376
Buildings & Improvements				0
Costs capitalized subsequent to acquisition				0
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate, Gross [Abstract]
Land				1,376
Buildings & Improvements				0
Total	1,376			1,376
Accumulated Depreciation	0			0
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate [Roll Forward]
Balance at close of year	1,376
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate, Accumulated Depreciation [Roll Forward]
Balance at beginning of year	0			0
Deductions during year [Abstract]
Balance at close of year	0
Unimproved Land [Member] | Weston - Weston, WI [Member]
Real Estate And Accumulated Depreciation [Abstract]
Encumbrances				0
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate and Accumulated Depreciation, Initial Cost [Abstract]
Land				370
Buildings & Improvements				0
Costs capitalized subsequent to acquisition				0
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate, Gross [Abstract]
Land				370
Buildings & Improvements				0
Total	370			370
Accumulated Depreciation	0			0
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate [Roll Forward]
Balance at close of year	370
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate, Accumulated Depreciation [Roll Forward]
Balance at beginning of year	0			0
Deductions during year [Abstract]
Balance at close of year	0
Wholly Owned Properties [Member]
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate, Gross [Abstract]
Total	1,358,529	1,369,893	1,090,362	1,669,764	1,358,529	1,369,893	1,090,362
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate [Roll Forward]
Balance at beginning of year	1,358,529	1,369,893	1,090,362
Improvements and Other	15,065	34,761	31,007
Total Additions	1,742,926	1,466,219	1,406,449
Cost of real estate sold	(46,001)	(21,601)	(1,305)
Impairment charge	(15,192)	(51,401)	0
Write down of asset and accumulated depreciation on impaired assets	(8,597)	(7,144)	0
Transfers	0	(24,156)	(26,373)
Other	(3,372)	(3,388)	(8,878)
Balance at close of year	1,669,764	1,358,529	1,369,893
Deductions during year [Abstract]
Write down of asset and accumulated depreciation on impaired assets	(8,597)	(7,144)	0
Development in Progress [Member]
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate, Gross [Abstract]
Total	0	51,681	153,994	0	0	$ 51,681	$ 153,994
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate [Roll Forward]
Balance at beginning of year	0	51,681	153,994
Improvements and Other	0	7,762	48,109
Transfers	0	0	1,734
Development placed in service	0	(59,443)	(152,156)
Balance at close of year	0	0	51,681
Multi-Family Residential [Member]
Real Estate And Accumulated Depreciation [Abstract]
Encumbrances				505,618
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate and Accumulated Depreciation, Initial Cost [Abstract]
Land				135,906
Buildings & Improvements				1,289,330
Costs capitalized subsequent to acquisition				181,185
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate, Gross [Abstract]
Land				157,150
Buildings & Improvements				1,449,271
Total	1,606,421			1,606,421
Accumulated Depreciation	(294,477)			(294,477)
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate [Roll Forward]
Balance at close of year	1,606,421
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate, Accumulated Depreciation [Roll Forward]
Balance at beginning of year	294,477			294,477
Deductions during year [Abstract]
Balance at close of year	294,477
Multi-Family Residential [Member] | 71 France - Edina, MN [Member]
Real Estate And Accumulated Depreciation [Abstract]
Encumbrances				56,000
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate and Accumulated Depreciation, Initial Cost [Abstract]
Land				4,721
Buildings & Improvements				61,762
Costs capitalized subsequent to acquisition				62
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate, Gross [Abstract]
Land				4,721
Buildings & Improvements				61,824
Total	66,545			66,545
Accumulated Depreciation	(5,731)			(5,731)
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate [Roll Forward]
Balance at close of year	66,545
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate, Accumulated Depreciation [Roll Forward]
Balance at beginning of year	5,731			5,731
Deductions during year [Abstract]
Balance at close of year	$ 5,731
Multi-Family Residential [Member] | 71 France - Edina, MN [Member] | Minimum [Member]
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate, Gross [Abstract]
Life on which depreciation in latest income statement is computed	30 years
Multi-Family Residential [Member] | 71 France - Edina, MN [Member] | Maximum [Member]
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate, Gross [Abstract]
Life on which depreciation in latest income statement is computed	37 years
Multi-Family Residential [Member] | Alps Park - Rapid City, SD [Member]
Real Estate And Accumulated Depreciation [Abstract]
Encumbrances				3,618
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate and Accumulated Depreciation, Initial Cost [Abstract]
Land				287
Buildings & Improvements				5,551
Costs capitalized subsequent to acquisition				356
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate, Gross [Abstract]
Land				333
Buildings & Improvements				5,861
Total	$ 6,194			6,194
Accumulated Depreciation	(898)			(898)
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate [Roll Forward]
Balance at close of year	6,194
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate, Accumulated Depreciation [Roll Forward]
Balance at beginning of year	898			898
Deductions during year [Abstract]
Balance at close of year	$ 898
Multi-Family Residential [Member] | Alps Park - Rapid City, SD [Member] | Minimum [Member]
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate, Gross [Abstract]
Life on which depreciation in latest income statement is computed	30 years
Multi-Family Residential [Member] | Alps Park - Rapid City, SD [Member] | Maximum [Member]
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate, Gross [Abstract]
Life on which depreciation in latest income statement is computed	37 years
Multi-Family Residential [Member] | Arbors - S Sioux City, NE [Member]
Real Estate And Accumulated Depreciation [Abstract]
Encumbrances				3,562
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate and Accumulated Depreciation, Initial Cost [Abstract]
Land				350
Buildings & Improvements				6,625
Costs capitalized subsequent to acquisition				2,375
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate, Gross [Abstract]
Land				1,048
Buildings & Improvements				8,302
Total	$ 9,350			9,350
Accumulated Depreciation	(2,966)			(2,966)
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate [Roll Forward]
Balance at close of year	9,350
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate, Accumulated Depreciation [Roll Forward]
Balance at beginning of year	2,966			2,966
Deductions during year [Abstract]
Balance at close of year	$ 2,966
Multi-Family Residential [Member] | Arbors - S Sioux City, NE [Member] | Minimum [Member]
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate, Gross [Abstract]
Life on which depreciation in latest income statement is computed	30 years
Multi-Family Residential [Member] | Arbors - S Sioux City, NE [Member] | Maximum [Member]
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate, Gross [Abstract]
Life on which depreciation in latest income statement is computed	37 years
Multi-Family Residential [Member] | Arcata - Golden Valley, MN [Member]
Real Estate And Accumulated Depreciation [Abstract]
Encumbrances				0
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate and Accumulated Depreciation, Initial Cost [Abstract]
Land				2,088
Buildings & Improvements				31,036
Costs capitalized subsequent to acquisition				98
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate, Gross [Abstract]
Land				2,089
Buildings & Improvements				31,133
Total	$ 33,222			33,222
Accumulated Depreciation	(4,177)			(4,177)
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate [Roll Forward]
Balance at close of year	33,222
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate, Accumulated Depreciation [Roll Forward]
Balance at beginning of year	4,177			4,177
Deductions during year [Abstract]
Balance at close of year	$ 4,177
Multi-Family Residential [Member] | Arcata - Golden Valley, MN [Member] | Minimum [Member]
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate, Gross [Abstract]
Life on which depreciation in latest income statement is computed	30 years
Multi-Family Residential [Member] | Arcata - Golden Valley, MN [Member] | Maximum [Member]
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate, Gross [Abstract]
Life on which depreciation in latest income statement is computed	37 years
Multi-Family Residential [Member] | Ashland - Grand Forks, ND [Member]
Real Estate And Accumulated Depreciation [Abstract]
Encumbrances				5,193
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate and Accumulated Depreciation, Initial Cost [Abstract]
Land				741
Buildings & Improvements				7,569
Costs capitalized subsequent to acquisition				268
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate, Gross [Abstract]
Land				795
Buildings & Improvements				7,783
Total	$ 8,578			8,578
Accumulated Depreciation	(1,492)			(1,492)
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate [Roll Forward]
Balance at close of year	8,578
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate, Accumulated Depreciation [Roll Forward]
Balance at beginning of year	1,492			1,492
Deductions during year [Abstract]
Balance at close of year	$ 1,492
Multi-Family Residential [Member] | Ashland - Grand Forks, ND [Member] | Minimum [Member]
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate, Gross [Abstract]
Life on which depreciation in latest income statement is computed	30 years
Multi-Family Residential [Member] | Ashland - Grand Forks, ND [Member] | Maximum [Member]
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate, Gross [Abstract]
Life on which depreciation in latest income statement is computed	37 years
Multi-Family Residential [Member] | Avalon Cove - Rochester, MN
Real Estate And Accumulated Depreciation [Abstract]
Encumbrances				0
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate and Accumulated Depreciation, Initial Cost [Abstract]
Land				1,616
Buildings & Improvements				34,074
Costs capitalized subsequent to acquisition				275
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate, Gross [Abstract]
Land				1,629
Buildings & Improvements				34,336
Total	$ 35,965			35,965
Accumulated Depreciation	(2,354)			(2,354)
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate [Roll Forward]
Balance at close of year	35,965
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate, Accumulated Depreciation [Roll Forward]
Balance at beginning of year	2,354			2,354
Deductions during year [Abstract]
Balance at close of year	$ 2,354
Multi-Family Residential [Member] | Avalon Cove - Rochester, MN | Minimum [Member]
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate, Gross [Abstract]
Life on which depreciation in latest income statement is computed	30 years
Multi-Family Residential [Member] | Avalon Cove - Rochester, MN | Maximum [Member]
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate, Gross [Abstract]
Life on which depreciation in latest income statement is computed	37 years
Multi-Family Residential [Member] | Boulder Court - Eagan, MN [Member]
Real Estate And Accumulated Depreciation [Abstract]
Encumbrances				0
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate and Accumulated Depreciation, Initial Cost [Abstract]
Land				1,067
Buildings & Improvements				5,498
Costs capitalized subsequent to acquisition				3,003
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate, Gross [Abstract]
Land				1,503
Buildings & Improvements				8,065
Total	$ 9,568			9,568
Accumulated Depreciation	(3,290)			(3,290)
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate [Roll Forward]
Balance at close of year	9,568
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate, Accumulated Depreciation [Roll Forward]
Balance at beginning of year	3,290			3,290
Deductions during year [Abstract]
Balance at close of year	$ 3,290
Multi-Family Residential [Member] | Boulder Court - Eagan, MN [Member] | Minimum [Member]
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate, Gross [Abstract]
Life on which depreciation in latest income statement is computed	30 years
Multi-Family Residential [Member] | Boulder Court - Eagan, MN [Member] | Maximum [Member]
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate, Gross [Abstract]
Life on which depreciation in latest income statement is computed	37 years
Multi-Family Residential [Member] | Brookfield Village - Topeka, KS [Member]
Real Estate And Accumulated Depreciation [Abstract]
Encumbrances				4,920
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate and Accumulated Depreciation, Initial Cost [Abstract]
Land				509
Buildings & Improvements				6,698
Costs capitalized subsequent to acquisition				1,885
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate, Gross [Abstract]
Land				874
Buildings & Improvements				8,218
Total	$ 9,092			9,092
Accumulated Depreciation	(3,144)			(3,144)
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate [Roll Forward]
Balance at close of year	9,092
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate, Accumulated Depreciation [Roll Forward]
Balance at beginning of year	3,144			3,144
Deductions during year [Abstract]
Balance at close of year	$ 3,144
Multi-Family Residential [Member] | Brookfield Village - Topeka, KS [Member] | Minimum [Member]
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate, Gross [Abstract]
Life on which depreciation in latest income statement is computed	30 years
Multi-Family Residential [Member] | Brookfield Village - Topeka, KS [Member] | Maximum [Member]
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate, Gross [Abstract]
Life on which depreciation in latest income statement is computed	37 years
Multi-Family Residential [Member] | Canyon Lake - Rapid City, SD [Member]
Real Estate And Accumulated Depreciation [Abstract]
Encumbrances				2,677
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate and Accumulated Depreciation, Initial Cost [Abstract]
Land				305
Buildings & Improvements				3,958
Costs capitalized subsequent to acquisition				2,130
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate, Gross [Abstract]
Land				397
Buildings & Improvements				5,996
Total	$ 6,393			6,393
Accumulated Depreciation	(2,555)			(2,555)
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate [Roll Forward]
Balance at close of year	6,393
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate, Accumulated Depreciation [Roll Forward]
Balance at beginning of year	2,555			2,555
Deductions during year [Abstract]
Balance at close of year	$ 2,555
Multi-Family Residential [Member] | Canyon Lake - Rapid City, SD [Member] | Minimum [Member]
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate, Gross [Abstract]
Life on which depreciation in latest income statement is computed	30 years
Multi-Family Residential [Member] | Canyon Lake - Rapid City, SD [Member] | Maximum [Member]
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate, Gross [Abstract]
Life on which depreciation in latest income statement is computed	37 years
Multi-Family Residential [Member] | Cardinal Point - Grand Forks, ND
Real Estate And Accumulated Depreciation [Abstract]
Encumbrances				0
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate and Accumulated Depreciation, Initial Cost [Abstract]
Land				1,600
Buildings & Improvements				33,400
Costs capitalized subsequent to acquisition				0
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate, Gross [Abstract]
Land				1,600
Buildings & Improvements				33,400
Total	$ 35,000			35,000
Accumulated Depreciation	0			0
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate [Roll Forward]
Balance at close of year	35,000
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate, Accumulated Depreciation [Roll Forward]
Balance at beginning of year	0			0
Deductions during year [Abstract]
Balance at close of year	$ 0
Multi-Family Residential [Member] | Cardinal Point - Grand Forks, ND | Minimum [Member]
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate, Gross [Abstract]
Life on which depreciation in latest income statement is computed	30 years
Multi-Family Residential [Member] | Cardinal Point - Grand Forks, ND | Maximum [Member]
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate, Gross [Abstract]
Life on which depreciation in latest income statement is computed	37 years
Multi-Family Residential [Member] | Cascade Shores - Rochester, MN
Real Estate And Accumulated Depreciation [Abstract]
Encumbrances				11,400
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate and Accumulated Depreciation, Initial Cost [Abstract]
Land				1,585
Buildings & Improvements				16,710
Costs capitalized subsequent to acquisition				66
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate, Gross [Abstract]
Land				1,586
Buildings & Improvements				16,775
Total	$ 18,361			18,361
Accumulated Depreciation	(1,196)			(1,196)
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate [Roll Forward]
Balance at close of year	18,361
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate, Accumulated Depreciation [Roll Forward]
Balance at beginning of year	1,196			1,196
Deductions during year [Abstract]
Balance at close of year	$ 1,196
Multi-Family Residential [Member] | Cascade Shores - Rochester, MN | Minimum [Member]
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate, Gross [Abstract]
Life on which depreciation in latest income statement is computed	30 years
Multi-Family Residential [Member] | Cascade Shores - Rochester, MN | Maximum [Member]
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate, Gross [Abstract]
Life on which depreciation in latest income statement is computed	37 years
Multi-Family Residential [Member] | Castlerock - Billings, MT [Member]
Real Estate And Accumulated Depreciation [Abstract]
Encumbrances				6,222
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate and Accumulated Depreciation, Initial Cost [Abstract]
Land				736
Buildings & Improvements				4,864
Costs capitalized subsequent to acquisition				2,359
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate, Gross [Abstract]
Land				1,022
Buildings & Improvements				6,937
Total	$ 7,959			7,959
Accumulated Depreciation	(3,587)			(3,587)
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate [Roll Forward]
Balance at close of year	7,959
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate, Accumulated Depreciation [Roll Forward]
Balance at beginning of year	3,587			3,587
Deductions during year [Abstract]
Balance at close of year	$ 3,587
Multi-Family Residential [Member] | Castlerock - Billings, MT [Member] | Minimum [Member]
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate, Gross [Abstract]
Life on which depreciation in latest income statement is computed	30 years
Multi-Family Residential [Member] | Castlerock - Billings, MT [Member] | Maximum [Member]
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate, Gross [Abstract]
Life on which depreciation in latest income statement is computed	37 years
Multi-Family Residential [Member] | Chateau I & II - Minot, ND [Member]
Real Estate And Accumulated Depreciation [Abstract]
Encumbrances				0
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate and Accumulated Depreciation, Initial Cost [Abstract]
Land				301
Buildings & Improvements				20,058
Costs capitalized subsequent to acquisition				880
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate, Gross [Abstract]
Land				322
Buildings & Improvements				20,917
Total	$ 21,239			21,239
Accumulated Depreciation	(3,216)			(3,216)
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate [Roll Forward]
Balance at close of year	21,239
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate, Accumulated Depreciation [Roll Forward]
Balance at beginning of year	3,216			3,216
Deductions during year [Abstract]
Balance at close of year	$ 3,216
Multi-Family Residential [Member] | Chateau I & II - Minot, ND [Member] | Minimum [Member]
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate, Gross [Abstract]
Life on which depreciation in latest income statement is computed	30 years
Multi-Family Residential [Member] | Chateau I & II - Minot, ND [Member] | Maximum [Member]
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate, Gross [Abstract]
Life on which depreciation in latest income statement is computed	37 years
Multi-Family Residential [Member] | Cimarron Hills - Omaha, NE [Member]
Real Estate And Accumulated Depreciation [Abstract]
Encumbrances				4,470
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate and Accumulated Depreciation, Initial Cost [Abstract]
Land				706
Buildings & Improvements				9,588
Costs capitalized subsequent to acquisition				4,700
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate, Gross [Abstract]
Land				1,494
Buildings & Improvements				13,500
Total	$ 14,994			14,994
Accumulated Depreciation	(6,287)			(6,287)
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate [Roll Forward]
Balance at close of year	14,994
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate, Accumulated Depreciation [Roll Forward]
Balance at beginning of year	6,287			6,287
Deductions during year [Abstract]
Balance at close of year	$ 6,287
Multi-Family Residential [Member] | Cimarron Hills - Omaha, NE [Member] | Minimum [Member]
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate, Gross [Abstract]
Life on which depreciation in latest income statement is computed	30 years
Multi-Family Residential [Member] | Cimarron Hills - Omaha, NE [Member] | Maximum [Member]
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate, Gross [Abstract]
Life on which depreciation in latest income statement is computed	37 years
Multi-Family Residential [Member] | Colonial Villa - Burnsville, MN [Member]
Real Estate And Accumulated Depreciation [Abstract]
Encumbrances				0
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate and Accumulated Depreciation, Initial Cost [Abstract]
Land				2,401
Buildings & Improvements				11,515
Costs capitalized subsequent to acquisition				9,090
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate, Gross [Abstract]
Land				2,906
Buildings & Improvements				20,100
Total	$ 23,006			23,006
Accumulated Depreciation	(8,380)			(8,380)
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate [Roll Forward]
Balance at close of year	23,006
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate, Accumulated Depreciation [Roll Forward]
Balance at beginning of year	8,380			8,380
Deductions during year [Abstract]
Balance at close of year	$ 8,380
Multi-Family Residential [Member] | Colonial Villa - Burnsville, MN [Member] | Minimum [Member]
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate, Gross [Abstract]
Life on which depreciation in latest income statement is computed	30 years
Multi-Family Residential [Member] | Colonial Villa - Burnsville, MN [Member] | Maximum [Member]
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate, Gross [Abstract]
Life on which depreciation in latest income statement is computed	37 years
Multi-Family Residential [Member] | Colony - Lincoln, NE [Member]
Real Estate And Accumulated Depreciation [Abstract]
Encumbrances				12,453
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate and Accumulated Depreciation, Initial Cost [Abstract]
Land				1,515
Buildings & Improvements				15,730
Costs capitalized subsequent to acquisition				1,428
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate, Gross [Abstract]
Land				1,708
Buildings & Improvements				16,965
Total	$ 18,673			18,673
Accumulated Depreciation	(3,197)			(3,197)
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate [Roll Forward]
Balance at close of year	18,673
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate, Accumulated Depreciation [Roll Forward]
Balance at beginning of year	3,197			3,197
Deductions during year [Abstract]
Balance at close of year	$ 3,197
Multi-Family Residential [Member] | Colony - Lincoln, NE [Member] | Minimum [Member]
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate, Gross [Abstract]
Life on which depreciation in latest income statement is computed	30 years
Multi-Family Residential [Member] | Colony - Lincoln, NE [Member] | Maximum [Member]
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate, Gross [Abstract]
Life on which depreciation in latest income statement is computed	37 years
Multi-Family Residential [Member] | Commons at Southgate - Minot, ND [Member]
Real Estate And Accumulated Depreciation [Abstract]
Encumbrances				26,094
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate and Accumulated Depreciation, Initial Cost [Abstract]
Land				5,945
Buildings & Improvements				47,512
Costs capitalized subsequent to acquisition				1,136
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate, Gross [Abstract]
Land				6,268
Buildings & Improvements				48,325
Total	$ 54,593			54,593
Accumulated Depreciation	(7,026)			(7,026)
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate [Roll Forward]
Balance at close of year	54,593
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate, Accumulated Depreciation [Roll Forward]
Balance at beginning of year	7,026			7,026
Deductions during year [Abstract]
Balance at close of year	$ 7,026
Multi-Family Residential [Member] | Commons at Southgate - Minot, ND [Member] | Minimum [Member]
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate, Gross [Abstract]
Life on which depreciation in latest income statement is computed	30 years
Multi-Family Residential [Member] | Commons at Southgate - Minot, ND [Member] | Maximum [Member]
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate, Gross [Abstract]
Life on which depreciation in latest income statement is computed	37 years
Multi-Family Residential [Member] | Cottage West Twin Homes - Sioux Falls, SD [Member]
Real Estate And Accumulated Depreciation [Abstract]
Encumbrances				3,387
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate and Accumulated Depreciation, Initial Cost [Abstract]
Land				968
Buildings & Improvements				3,762
Costs capitalized subsequent to acquisition				597
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate, Gross [Abstract]
Land				1,072
Buildings & Improvements				4,255
Total	$ 5,327			5,327
Accumulated Depreciation	(813)			(813)
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate [Roll Forward]
Balance at close of year	5,327
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate, Accumulated Depreciation [Roll Forward]
Balance at beginning of year	813			813
Deductions during year [Abstract]
Balance at close of year	$ 813
Multi-Family Residential [Member] | Cottage West Twin Homes - Sioux Falls, SD [Member] | Minimum [Member]
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate, Gross [Abstract]
Life on which depreciation in latest income statement is computed	30 years
Multi-Family Residential [Member] | Cottage West Twin Homes - Sioux Falls, SD [Member] | Maximum [Member]
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate, Gross [Abstract]
Life on which depreciation in latest income statement is computed	37 years
Multi-Family Residential [Member] | Cottonwood - Bismarck, ND [Member]
Real Estate And Accumulated Depreciation [Abstract]
Encumbrances				14,848
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate and Accumulated Depreciation, Initial Cost [Abstract]
Land				1,056
Buildings & Improvements				17,372
Costs capitalized subsequent to acquisition				5,411
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate, Gross [Abstract]
Land				1,597
Buildings & Improvements				22,242
Total	$ 23,839			23,839
Accumulated Depreciation	(9,318)			(9,318)
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate [Roll Forward]
Balance at close of year	23,839
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate, Accumulated Depreciation [Roll Forward]
Balance at beginning of year	9,318			9,318
Deductions during year [Abstract]
Balance at close of year	$ 9,318
Multi-Family Residential [Member] | Cottonwood - Bismarck, ND [Member] | Minimum [Member]
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate, Gross [Abstract]
Life on which depreciation in latest income statement is computed	30 years
Multi-Family Residential [Member] | Cottonwood - Bismarck, ND [Member] | Maximum [Member]
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate, Gross [Abstract]
Life on which depreciation in latest income statement is computed	37 years
Multi-Family Residential [Member] | Country Meadows - Billings, MT [Member]
Real Estate And Accumulated Depreciation [Abstract]
Encumbrances				6,161
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate and Accumulated Depreciation, Initial Cost [Abstract]
Land				491
Buildings & Improvements				7,809
Costs capitalized subsequent to acquisition				1,736
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate, Gross [Abstract]
Land				569
Buildings & Improvements				9,467
Total	$ 10,036			10,036
Accumulated Depreciation	(4,834)			(4,834)
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate [Roll Forward]
Balance at close of year	10,036
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate, Accumulated Depreciation [Roll Forward]
Balance at beginning of year	4,834			4,834
Deductions during year [Abstract]
Balance at close of year	$ 4,834
Multi-Family Residential [Member] | Country Meadows - Billings, MT [Member] | Minimum [Member]
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate, Gross [Abstract]
Life on which depreciation in latest income statement is computed	30 years
Multi-Family Residential [Member] | Country Meadows - Billings, MT [Member] | Maximum [Member]
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate, Gross [Abstract]
Life on which depreciation in latest income statement is computed	37 years
Multi-Family Residential [Member] | Crestview - Bismarck, ND [Member]
Real Estate And Accumulated Depreciation [Abstract]
Encumbrances				3,576
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate and Accumulated Depreciation, Initial Cost [Abstract]
Land				235
Buildings & Improvements				4,290
Costs capitalized subsequent to acquisition				2,206
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate, Gross [Abstract]
Land				600
Buildings & Improvements				6,131
Total	$ 6,731			6,731
Accumulated Depreciation	(3,737)			(3,737)
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate [Roll Forward]
Balance at close of year	6,731
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate, Accumulated Depreciation [Roll Forward]
Balance at beginning of year	3,737			3,737
Deductions during year [Abstract]
Balance at close of year	$ 3,737
Multi-Family Residential [Member] | Crestview - Bismarck, ND [Member] | Minimum [Member]
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate, Gross [Abstract]
Life on which depreciation in latest income statement is computed	30 years
Multi-Family Residential [Member] | Crestview - Bismarck, ND [Member] | Maximum [Member]
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate, Gross [Abstract]
Life on which depreciation in latest income statement is computed	37 years
Multi-Family Residential [Member] | Crown Colony - Topeka, KS [Member]
Real Estate And Accumulated Depreciation [Abstract]
Encumbrances				7,614
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate and Accumulated Depreciation, Initial Cost [Abstract]
Land				620
Buildings & Improvements				9,956
Costs capitalized subsequent to acquisition				3,742
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate, Gross [Abstract]
Land				1,148
Buildings & Improvements				13,170
Total	$ 14,318			14,318
Accumulated Depreciation	(6,016)			(6,016)
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate [Roll Forward]
Balance at close of year	14,318
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate, Accumulated Depreciation [Roll Forward]
Balance at beginning of year	6,016			6,016
Deductions during year [Abstract]
Balance at close of year	$ 6,016
Multi-Family Residential [Member] | Crown Colony - Topeka, KS [Member] | Minimum [Member]
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate, Gross [Abstract]
Life on which depreciation in latest income statement is computed	30 years
Multi-Family Residential [Member] | Crown Colony - Topeka, KS [Member] | Maximum [Member]
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate, Gross [Abstract]
Life on which depreciation in latest income statement is computed	37 years
Multi-Family Residential [Member] | Crystal Bay - Rochester, MN
Real Estate And Accumulated Depreciation [Abstract]
Encumbrances				0
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate and Accumulated Depreciation, Initial Cost [Abstract]
Land				433
Buildings & Improvements				11,425
Costs capitalized subsequent to acquisition				224
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate, Gross [Abstract]
Land				436
Buildings & Improvements				11,646
Total	$ 12,082			12,082
Accumulated Depreciation	(780)			(780)
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate [Roll Forward]
Balance at close of year	12,082
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate, Accumulated Depreciation [Roll Forward]
Balance at beginning of year	780			780
Deductions during year [Abstract]
Balance at close of year	$ 780
Multi-Family Residential [Member] | Crystal Bay - Rochester, MN | Minimum [Member]
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate, Gross [Abstract]
Life on which depreciation in latest income statement is computed	30 years
Multi-Family Residential [Member] | Crystal Bay - Rochester, MN | Maximum [Member]
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate, Gross [Abstract]
Life on which depreciation in latest income statement is computed	37 years
Multi-Family Residential [Member] | Cypress Court - St. Cloud, MN [Member]
Real Estate And Accumulated Depreciation [Abstract]
Encumbrances				12,400
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate and Accumulated Depreciation, Initial Cost [Abstract]
Land				1,583
Buildings & Improvements				18,879
Costs capitalized subsequent to acquisition				222
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate, Gross [Abstract]
Land				1,607
Buildings & Improvements				19,077
Total	$ 20,684			20,684
Accumulated Depreciation	(2,857)			(2,857)
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate [Roll Forward]
Balance at close of year	20,684
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate, Accumulated Depreciation [Roll Forward]
Balance at beginning of year	2,857			2,857
Deductions during year [Abstract]
Balance at close of year	$ 2,857
Multi-Family Residential [Member] | Cypress Court - St. Cloud, MN [Member] | Minimum [Member]
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate, Gross [Abstract]
Life on which depreciation in latest income statement is computed	30 years
Multi-Family Residential [Member] | Cypress Court - St. Cloud, MN [Member] | Maximum [Member]
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate, Gross [Abstract]
Life on which depreciation in latest income statement is computed	37 years
Multi-Family Residential [Member] | Dakota Commons - Williston, ND [Member]
Real Estate And Accumulated Depreciation [Abstract]
Encumbrances				0
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate and Accumulated Depreciation, Initial Cost [Abstract]
Land				823
Buildings & Improvements				3,210
Costs capitalized subsequent to acquisition				24
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate, Gross [Abstract]
Land				823
Buildings & Improvements				3,234
Total	$ 4,057			4,057
Accumulated Depreciation	(169)			(169)
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate [Roll Forward]
Balance at close of year	4,057
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate, Accumulated Depreciation [Roll Forward]
Balance at beginning of year	169			169
Deductions during year [Abstract]
Balance at close of year	$ 169
Multi-Family Residential [Member] | Dakota Commons - Williston, ND [Member] | Minimum [Member]
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate, Gross [Abstract]
Life on which depreciation in latest income statement is computed	30 years
Multi-Family Residential [Member] | Dakota Commons - Williston, ND [Member] | Maximum [Member]
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate, Gross [Abstract]
Life on which depreciation in latest income statement is computed	37 years
Multi-Family Residential [Member] | Deer Ridge - Jamestown, ND
Real Estate And Accumulated Depreciation [Abstract]
Encumbrances				11,201
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate and Accumulated Depreciation, Initial Cost [Abstract]
Land				711
Buildings & Improvements				24,129
Costs capitalized subsequent to acquisition				175
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate, Gross [Abstract]
Land				733
Buildings & Improvements				24,282
Total	$ 25,015			25,015
Accumulated Depreciation	(2,642)			(2,642)
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate [Roll Forward]
Balance at close of year	25,015
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate, Accumulated Depreciation [Roll Forward]
Balance at beginning of year	2,642			2,642
Deductions during year [Abstract]
Balance at close of year	$ 2,642
Multi-Family Residential [Member] | Deer Ridge - Jamestown, ND | Minimum [Member]
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate, Gross [Abstract]
Life on which depreciation in latest income statement is computed	30 years
Multi-Family Residential [Member] | Deer Ridge - Jamestown, ND | Maximum [Member]
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate, Gross [Abstract]
Life on which depreciation in latest income statement is computed	37 years
Multi-Family Residential [Member] | Dylan - Denver Co [Member]
Real Estate And Accumulated Depreciation [Abstract]
Encumbrances				0
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate and Accumulated Depreciation, Initial Cost [Abstract]
Land				12,155
Buildings & Improvements				77,216
Costs capitalized subsequent to acquisition				158
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate, Gross [Abstract]
Land				12,155
Buildings & Improvements				77,374
Total	$ 89,529			89,529
Accumulated Depreciation	(1,184)			(1,184)
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate [Roll Forward]
Balance at close of year	89,529
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate, Accumulated Depreciation [Roll Forward]
Balance at beginning of year	1,184			1,184
Deductions during year [Abstract]
Balance at close of year	$ 1,184
Multi-Family Residential [Member] | Dylan - Denver Co [Member] | Minimum [Member]
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate, Gross [Abstract]
Life on which depreciation in latest income statement is computed	30 years
Multi-Family Residential [Member] | Dylan - Denver Co [Member] | Maximum [Member]
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate, Gross [Abstract]
Life on which depreciation in latest income statement is computed	37 years
Multi-Family Residential [Member] | Evergreen - Isanti, MN [Member]
Real Estate And Accumulated Depreciation [Abstract]
Encumbrances				1,874
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate and Accumulated Depreciation, Initial Cost [Abstract]
Land				1,129
Buildings & Improvements				5,524
Costs capitalized subsequent to acquisition				364
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate, Gross [Abstract]
Land				1,141
Buildings & Improvements				5,876
Total	$ 7,017			7,017
Accumulated Depreciation	(1,361)			(1,361)
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate [Roll Forward]
Balance at close of year	7,017
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate, Accumulated Depreciation [Roll Forward]
Balance at beginning of year	1,361			1,361
Deductions during year [Abstract]
Balance at close of year	$ 1,361
Multi-Family Residential [Member] | Evergreen - Isanti, MN [Member] | Minimum [Member]
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate, Gross [Abstract]
Life on which depreciation in latest income statement is computed	30 years
Multi-Family Residential [Member] | Evergreen - Isanti, MN [Member] | Maximum [Member]
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate, Gross [Abstract]
Life on which depreciation in latest income statement is computed	37 years
Multi-Family Residential [Member] | Forest Park - Grand Forks, ND [Member]
Real Estate And Accumulated Depreciation [Abstract]
Encumbrances				7,119
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate and Accumulated Depreciation, Initial Cost [Abstract]
Land				810
Buildings & Improvements				5,579
Costs capitalized subsequent to acquisition				8,203
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate, Gross [Abstract]
Land				1,459
Buildings & Improvements				13,133
Total	$ 14,592			14,592
Accumulated Depreciation	(7,370)			(7,370)
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate [Roll Forward]
Balance at close of year	14,592
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate, Accumulated Depreciation [Roll Forward]
Balance at beginning of year	7,370			7,370
Deductions during year [Abstract]
Balance at close of year	$ 7,370
Multi-Family Residential [Member] | Forest Park - Grand Forks, ND [Member] | Minimum [Member]
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate, Gross [Abstract]
Life on which depreciation in latest income statement is computed	24 years
Multi-Family Residential [Member] | Forest Park - Grand Forks, ND [Member] | Maximum [Member]
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate, Gross [Abstract]
Life on which depreciation in latest income statement is computed	37 years
Multi-Family Residential [Member] | French Creek - Rochester, MN [Member]
Real Estate And Accumulated Depreciation [Abstract]
Encumbrances				0
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate and Accumulated Depreciation, Initial Cost [Abstract]
Land				201
Buildings & Improvements				4,735
Costs capitalized subsequent to acquisition				146
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate, Gross [Abstract]
Land				207
Buildings & Improvements				4,875
Total	$ 5,082			5,082
Accumulated Depreciation	(313)			(313)
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate [Roll Forward]
Balance at close of year	5,082
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate, Accumulated Depreciation [Roll Forward]
Balance at beginning of year	313			313
Deductions during year [Abstract]
Balance at close of year	$ 313
Multi-Family Residential [Member] | French Creek - Rochester, MN [Member] | Minimum [Member]
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate, Gross [Abstract]
Life on which depreciation in latest income statement is computed	30 years
Multi-Family Residential [Member] | French Creek - Rochester, MN [Member] | Maximum [Member]
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate, Gross [Abstract]
Life on which depreciation in latest income statement is computed	37 years
Multi-Family Residential [Member] | Gables Townhomes - Sioux Falls, SD [Member]
Real Estate And Accumulated Depreciation [Abstract]
Encumbrances				1,371
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate and Accumulated Depreciation, Initial Cost [Abstract]
Land				349
Buildings & Improvements				1,921
Costs capitalized subsequent to acquisition				237
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate, Gross [Abstract]
Land				397
Buildings & Improvements				2,110
Total	$ 2,507			2,507
Accumulated Depreciation	(396)			(396)
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate [Roll Forward]
Balance at close of year	2,507
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate, Accumulated Depreciation [Roll Forward]
Balance at beginning of year	396			396
Deductions during year [Abstract]
Balance at close of year	$ 396
Multi-Family Residential [Member] | Gables Townhomes - Sioux Falls, SD [Member] | Minimum [Member]
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate, Gross [Abstract]
Life on which depreciation in latest income statement is computed	30 years
Multi-Family Residential [Member] | Gables Townhomes - Sioux Falls, SD [Member] | Maximum [Member]
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate, Gross [Abstract]
Life on which depreciation in latest income statement is computed	37 years
Multi-Family Residential [Member] | Gardens - Grand Forks, ND [Member]
Real Estate And Accumulated Depreciation [Abstract]
Encumbrances				0
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate and Accumulated Depreciation, Initial Cost [Abstract]
Land				518
Buildings & Improvements				8,702
Costs capitalized subsequent to acquisition				109
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate, Gross [Abstract]
Land				528
Buildings & Improvements				8,801
Total	$ 9,329			9,329
Accumulated Depreciation	(770)			(770)
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate [Roll Forward]
Balance at close of year	9,329
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate, Accumulated Depreciation [Roll Forward]
Balance at beginning of year	770			770
Deductions during year [Abstract]
Balance at close of year	$ 770
Multi-Family Residential [Member] | Gardens - Grand Forks, ND [Member] | Minimum [Member]
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate, Gross [Abstract]
Life on which depreciation in latest income statement is computed	30 years
Multi-Family Residential [Member] | Gardens - Grand Forks, ND [Member] | Maximum [Member]
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate, Gross [Abstract]
Life on which depreciation in latest income statement is computed	37 years
Multi-Family Residential [Member] | Grand Gateway - St. Cloud, MN [Member]
Real Estate And Accumulated Depreciation [Abstract]
Encumbrances				0
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate and Accumulated Depreciation, Initial Cost [Abstract]
Land				814
Buildings & Improvements				7,086
Costs capitalized subsequent to acquisition				1,860
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate, Gross [Abstract]
Land				941
Buildings & Improvements				8,819
Total	$ 9,760			9,760
Accumulated Depreciation	(2,003)			(2,003)
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate [Roll Forward]
Balance at close of year	9,760
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate, Accumulated Depreciation [Roll Forward]
Balance at beginning of year	2,003			2,003
Deductions during year [Abstract]
Balance at close of year	$ 2,003
Multi-Family Residential [Member] | Grand Gateway - St. Cloud, MN [Member] | Minimum [Member]
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate, Gross [Abstract]
Life on which depreciation in latest income statement is computed	30 years
Multi-Family Residential [Member] | Grand Gateway - St. Cloud, MN [Member] | Maximum [Member]
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate, Gross [Abstract]
Life on which depreciation in latest income statement is computed	37 years
Multi-Family Residential [Member] | GrandeVille at Cascade Lake - Rochester, MN [Member]
Real Estate And Accumulated Depreciation [Abstract]
Encumbrances				36,000
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate and Accumulated Depreciation, Initial Cost [Abstract]
Land				5,003
Buildings & Improvements				50,363
Costs capitalized subsequent to acquisition				1,551
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate, Gross [Abstract]
Land				5,065
Buildings & Improvements				51,852
Total	$ 56,917			56,917
Accumulated Depreciation	(4,343)			(4,343)
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate [Roll Forward]
Balance at close of year	56,917
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate, Accumulated Depreciation [Roll Forward]
Balance at beginning of year	4,343			4,343
Deductions during year [Abstract]
Balance at close of year	$ 4,343
Multi-Family Residential [Member] | GrandeVille at Cascade Lake - Rochester, MN [Member] | Minimum [Member]
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate, Gross [Abstract]
Life on which depreciation in latest income statement is computed	30 years
Multi-Family Residential [Member] | GrandeVille at Cascade Lake - Rochester, MN [Member] | Maximum [Member]
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate, Gross [Abstract]
Life on which depreciation in latest income statement is computed	37 years
Multi-Family Residential [Member] | Greenfield - Omaha, NE [Member]
Real Estate And Accumulated Depreciation [Abstract]
Encumbrances				0
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate and Accumulated Depreciation, Initial Cost [Abstract]
Land				578
Buildings & Improvements				4,122
Costs capitalized subsequent to acquisition				1,314
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate, Gross [Abstract]
Land				868
Buildings & Improvements				5,146
Total	$ 6,014			6,014
Accumulated Depreciation	(1,604)			(1,604)
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate [Roll Forward]
Balance at close of year	6,014
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate, Accumulated Depreciation [Roll Forward]
Balance at beginning of year	1,604			1,604
Deductions during year [Abstract]
Balance at close of year	$ 1,604
Multi-Family Residential [Member] | Greenfield - Omaha, NE [Member] | Minimum [Member]
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate, Gross [Abstract]
Life on which depreciation in latest income statement is computed	30 years
Multi-Family Residential [Member] | Greenfield - Omaha, NE [Member] | Maximum [Member]
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate, Gross [Abstract]
Life on which depreciation in latest income statement is computed	37 years
Multi-Family Residential [Member] | Heritage Manor - Rochester, MN [Member]
Real Estate And Accumulated Depreciation [Abstract]
Encumbrances				3,375
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate and Accumulated Depreciation, Initial Cost [Abstract]
Land				403
Buildings & Improvements				6,968
Costs capitalized subsequent to acquisition				3,227
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate, Gross [Abstract]
Land				666
Buildings & Improvements				9,932
Total	$ 10,598			10,598
Accumulated Depreciation	(4,886)			(4,886)
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate [Roll Forward]
Balance at close of year	10,598
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate, Accumulated Depreciation [Roll Forward]
Balance at beginning of year	4,886			4,886
Deductions during year [Abstract]
Balance at close of year	$ 4,886
Multi-Family Residential [Member] | Heritage Manor - Rochester, MN [Member] | Minimum [Member]
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate, Gross [Abstract]
Life on which depreciation in latest income statement is computed	30 years
Multi-Family Residential [Member] | Heritage Manor - Rochester, MN [Member] | Maximum [Member]
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate, Gross [Abstract]
Life on which depreciation in latest income statement is computed	37 years
Multi-Family Residential [Member] | Homestead Garden - Rapid City, SD [Member]
Real Estate And Accumulated Depreciation [Abstract]
Encumbrances				2,957
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate and Accumulated Depreciation, Initial Cost [Abstract]
Land				655
Buildings & Improvements				14,139
Costs capitalized subsequent to acquisition				514
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate, Gross [Abstract]
Land				713
Buildings & Improvements				14,595
Total	$ 15,308			15,308
Accumulated Depreciation	(1,772)			(1,772)
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate [Roll Forward]
Balance at close of year	15,308
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate, Accumulated Depreciation [Roll Forward]
Balance at beginning of year	1,772			1,772
Deductions during year [Abstract]
Balance at close of year	$ 1,772
Multi-Family Residential [Member] | Homestead Garden - Rapid City, SD [Member] | Minimum [Member]
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate, Gross [Abstract]
Life on which depreciation in latest income statement is computed	30 years
Multi-Family Residential [Member] | Homestead Garden - Rapid City, SD [Member] | Maximum [Member]
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate, Gross [Abstract]
Life on which depreciation in latest income statement is computed	37 years
Multi-Family Residential [Member] | Indian Hills - Sioux City, IA [Member]
Real Estate And Accumulated Depreciation [Abstract]
Encumbrances				0
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate and Accumulated Depreciation, Initial Cost [Abstract]
Land				294
Buildings & Improvements				2,921
Costs capitalized subsequent to acquisition				4,362
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate, Gross [Abstract]
Land				461
Buildings & Improvements				7,116
Total	$ 7,577			7,577
Accumulated Depreciation	(2,103)			(2,103)
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate [Roll Forward]
Balance at close of year	7,577
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate, Accumulated Depreciation [Roll Forward]
Balance at beginning of year	2,103			2,103
Deductions during year [Abstract]
Balance at close of year	$ 2,103
Multi-Family Residential [Member] | Indian Hills - Sioux City, IA [Member] | Minimum [Member]
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate, Gross [Abstract]
Life on which depreciation in latest income statement is computed	30 years
Multi-Family Residential [Member] | Indian Hills - Sioux City, IA [Member] | Maximum [Member]
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate, Gross [Abstract]
Life on which depreciation in latest income statement is computed	37 years
Multi-Family Residential [Member] | Kirkwood Manor - Bismarck, ND [Member]
Real Estate And Accumulated Depreciation [Abstract]
Encumbrances				3,083
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate and Accumulated Depreciation, Initial Cost [Abstract]
Land				449
Buildings & Improvements				2,725
Costs capitalized subsequent to acquisition				1,832
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate, Gross [Abstract]
Land				610
Buildings & Improvements				4,396
Total	$ 5,006			5,006
Accumulated Depreciation	(2,299)			(2,299)
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate [Roll Forward]
Balance at close of year	5,006
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate, Accumulated Depreciation [Roll Forward]
Balance at beginning of year	2,299			2,299
Deductions during year [Abstract]
Balance at close of year	$ 2,299
Multi-Family Residential [Member] | Kirkwood Manor - Bismarck, ND [Member] | Minimum [Member]
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate, Gross [Abstract]
Life on which depreciation in latest income statement is computed	12 years
Multi-Family Residential [Member] | Kirkwood Manor - Bismarck, ND [Member] | Maximum [Member]
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate, Gross [Abstract]
Life on which depreciation in latest income statement is computed	37 years
Multi-Family Residential [Member] | Lakeside Village Lincoln, NE [Member]
Real Estate And Accumulated Depreciation [Abstract]
Encumbrances				12,307
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate and Accumulated Depreciation, Initial Cost [Abstract]
Land				1,215
Buildings & Improvements				15,837
Costs capitalized subsequent to acquisition				1,011
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate, Gross [Abstract]
Land				1,315
Buildings & Improvements				16,748
Total	$ 18,063			18,063
Accumulated Depreciation	(3,075)			(3,075)
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate [Roll Forward]
Balance at close of year	18,063
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate, Accumulated Depreciation [Roll Forward]
Balance at beginning of year	3,075			3,075
Deductions during year [Abstract]
Balance at close of year	$ 3,075
Multi-Family Residential [Member] | Lakeside Village Lincoln, NE [Member] | Minimum [Member]
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate, Gross [Abstract]
Life on which depreciation in latest income statement is computed	30 years
Multi-Family Residential [Member] | Lakeside Village Lincoln, NE [Member] | Maximum [Member]
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate, Gross [Abstract]
Life on which depreciation in latest income statement is computed	37 years
Multi-Family Residential [Member] | Landmark - Grand Forks, ND [Member]
Real Estate And Accumulated Depreciation [Abstract]
Encumbrances					0
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate and Accumulated Depreciation, Initial Cost [Abstract]
Land					184
Buildings & Improvements					1,514
Costs capitalized subsequent to acquisition					1,175
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate, Gross [Abstract]
Land					356
Buildings & Improvements					2,517
Total	$ 2,873	2,873			2,873
Accumulated Depreciation		(1,379)			(1,379)
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate [Roll Forward]
Balance at beginning of year	2,873
Balance at close of year		2,873
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate, Accumulated Depreciation [Roll Forward]
Balance at beginning of year		1,379			$ 1,379
Deductions during year [Abstract]
Balance at close of year		$ 1,379
Multi-Family Residential [Member] | Landmark - Grand Forks, ND [Member] | Minimum [Member]
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate, Gross [Abstract]
Life on which depreciation in latest income statement is computed		30 years
Multi-Family Residential [Member] | Landmark - Grand Forks, ND [Member] | Maximum [Member]
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate, Gross [Abstract]
Life on which depreciation in latest income statement is computed		37 years
Multi-Family Residential [Member] | Legacy - Grand Forks, ND [Member]
Real Estate And Accumulated Depreciation [Abstract]
Encumbrances				14,327
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate and Accumulated Depreciation, Initial Cost [Abstract]
Land				1,362
Buildings & Improvements				21,727
Costs capitalized subsequent to acquisition				10,396
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate, Gross [Abstract]
Land				2,257
Buildings & Improvements				31,228
Total	33,485			33,485
Accumulated Depreciation	(13,904)			(13,904)
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate [Roll Forward]
Balance at close of year	33,485
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate, Accumulated Depreciation [Roll Forward]
Balance at beginning of year	13,904			13,904
Deductions during year [Abstract]
Balance at close of year	$ 13,904
Multi-Family Residential [Member] | Legacy - Grand Forks, ND [Member] | Minimum [Member]
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate, Gross [Abstract]
Life on which depreciation in latest income statement is computed	24 years
Multi-Family Residential [Member] | Legacy - Grand Forks, ND [Member] | Maximum [Member]
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate, Gross [Abstract]
Life on which depreciation in latest income statement is computed	37 years
Multi-Family Residential [Member] | Legacy Heights - Bismarck, ND [Member]
Real Estate And Accumulated Depreciation [Abstract]
Encumbrances				0
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate and Accumulated Depreciation, Initial Cost [Abstract]
Land				1,207
Buildings & Improvements				13,742
Costs capitalized subsequent to acquisition				384
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate, Gross [Abstract]
Land				1,288
Buildings & Improvements				14,045
Total	$ 15,333			15,333
Accumulated Depreciation	(1,237)			(1,237)
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate [Roll Forward]
Balance at close of year	15,333
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate, Accumulated Depreciation [Roll Forward]
Balance at beginning of year	1,237			1,237
Deductions during year [Abstract]
Balance at close of year	$ 1,237
Multi-Family Residential [Member] | Legacy Heights - Bismarck, ND [Member] | Minimum [Member]
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate, Gross [Abstract]
Life on which depreciation in latest income statement is computed	30 years
Multi-Family Residential [Member] | Legacy Heights - Bismarck, ND [Member] | Maximum [Member]
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate, Gross [Abstract]
Life on which depreciation in latest income statement is computed	37 years
Multi-Family Residential [Member] | Mariposa - Topeka, KS [Member]
Real Estate And Accumulated Depreciation [Abstract]
Encumbrances				2,756
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate and Accumulated Depreciation, Initial Cost [Abstract]
Land				399
Buildings & Improvements				5,110
Costs capitalized subsequent to acquisition				934
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate, Gross [Abstract]
Land				453
Buildings & Improvements				5,990
Total	$ 6,443			6,443
Accumulated Depreciation	(2,038)			(2,038)
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate [Roll Forward]
Balance at close of year	6,443
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate, Accumulated Depreciation [Roll Forward]
Balance at beginning of year	2,038			2,038
Deductions during year [Abstract]
Balance at close of year	$ 2,038
Multi-Family Residential [Member] | Mariposa - Topeka, KS [Member] | Minimum [Member]
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate, Gross [Abstract]
Life on which depreciation in latest income statement is computed	30 years
Multi-Family Residential [Member] | Mariposa - Topeka, KS [Member] | Maximum [Member]
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate, Gross [Abstract]
Life on which depreciation in latest income statement is computed	37 years
Multi-Family Residential [Member] | Meadows - Jamestown, ND [Member]
Real Estate And Accumulated Depreciation [Abstract]
Encumbrances				0
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate and Accumulated Depreciation, Initial Cost [Abstract]
Land				590
Buildings & Improvements				4,519
Costs capitalized subsequent to acquisition				1,922
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate, Gross [Abstract]
Land				707
Buildings & Improvements				6,324
Total	$ 7,031			7,031
Accumulated Depreciation	(2,842)			(2,842)
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate [Roll Forward]
Balance at close of year	7,031
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate, Accumulated Depreciation [Roll Forward]
Balance at beginning of year	2,842			2,842
Deductions during year [Abstract]
Balance at close of year	$ 2,842
Multi-Family Residential [Member] | Meadows - Jamestown, ND [Member] | Minimum [Member]
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate, Gross [Abstract]
Life on which depreciation in latest income statement is computed	30 years
Multi-Family Residential [Member] | Meadows - Jamestown, ND [Member] | Maximum [Member]
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate, Gross [Abstract]
Life on which depreciation in latest income statement is computed	37 years
Multi-Family Residential [Member] | Monticello Crossings - Monticello, MN [Member]
Real Estate And Accumulated Depreciation [Abstract]
Encumbrances				0
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate and Accumulated Depreciation, Initial Cost [Abstract]
Land				1,734
Buildings & Improvements				30,131
Costs capitalized subsequent to acquisition				32
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate, Gross [Abstract]
Land				1,734
Buildings & Improvements				30,163
Total	$ 31,897			31,897
Accumulated Depreciation	(1,742)			(1,742)
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate [Roll Forward]
Balance at close of year	31,897
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate, Accumulated Depreciation [Roll Forward]
Balance at beginning of year	1,742			1,742
Deductions during year [Abstract]
Balance at close of year	$ 1,742
Multi-Family Residential [Member] | Monticello Crossings - Monticello, MN [Member] | Minimum [Member]
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate, Gross [Abstract]
Life on which depreciation in latest income statement is computed	30 years
Multi-Family Residential [Member] | Monticello Crossings - Monticello, MN [Member] | Maximum [Member]
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate, Gross [Abstract]
Life on which depreciation in latest income statement is computed	37 years
Multi-Family Residential [Member] | Monticello Village - Monticello, MN [Member]
Real Estate And Accumulated Depreciation [Abstract]
Encumbrances				0
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate and Accumulated Depreciation, Initial Cost [Abstract]
Land				490
Buildings & Improvements				3,756
Costs capitalized subsequent to acquisition				1,053
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate, Gross [Abstract]
Land				637
Buildings & Improvements				4,662
Total	$ 5,299			5,299
Accumulated Depreciation	(1,743)			(1,743)
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate [Roll Forward]
Balance at close of year	5,299
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate, Accumulated Depreciation [Roll Forward]
Balance at beginning of year	1,743			1,743
Deductions during year [Abstract]
Balance at close of year	$ 1,743
Multi-Family Residential [Member] | Monticello Village - Monticello, MN [Member] | Minimum [Member]
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate, Gross [Abstract]
Life on which depreciation in latest income statement is computed	30 years
Multi-Family Residential [Member] | Monticello Village - Monticello, MN [Member] | Maximum [Member]
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate, Gross [Abstract]
Life on which depreciation in latest income statement is computed	37 years
Multi-Family Residential [Member] | North Pointe - Bismarck, ND [Member]
Real Estate And Accumulated Depreciation [Abstract]
Encumbrances				3,216
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate and Accumulated Depreciation, Initial Cost [Abstract]
Land				303
Buildings & Improvements				3,957
Costs capitalized subsequent to acquisition				1,290
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate, Gross [Abstract]
Land				376
Buildings & Improvements				5,174
Total	$ 5,550			5,550
Accumulated Depreciation	(2,083)			(2,083)
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate [Roll Forward]
Balance at close of year	5,550
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate, Accumulated Depreciation [Roll Forward]
Balance at beginning of year	2,083			2,083
Deductions during year [Abstract]
Balance at close of year	$ 2,083
Multi-Family Residential [Member] | North Pointe - Bismarck, ND [Member] | Minimum [Member]
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate, Gross [Abstract]
Life on which depreciation in latest income statement is computed	24 years
Multi-Family Residential [Member] | North Pointe - Bismarck, ND [Member] | Maximum [Member]
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate, Gross [Abstract]
Life on which depreciation in latest income statement is computed	37 years
Multi-Family Residential [Member] | Northridge - Bismarck, ND [Member]
Real Estate And Accumulated Depreciation [Abstract]
Encumbrances				0
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate and Accumulated Depreciation, Initial Cost [Abstract]
Land				884
Buildings & Improvements				7,515
Costs capitalized subsequent to acquisition				183
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate, Gross [Abstract]
Land				970
Buildings & Improvements				7,612
Total	$ 8,582			8,582
Accumulated Depreciation	(841)			(841)
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate [Roll Forward]
Balance at close of year	8,582
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate, Accumulated Depreciation [Roll Forward]
Balance at beginning of year	841			841
Deductions during year [Abstract]
Balance at close of year	$ 841
Multi-Family Residential [Member] | Northridge - Bismarck, ND [Member] | Minimum [Member]
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate, Gross [Abstract]
Life on which depreciation in latest income statement is computed	30 years
Multi-Family Residential [Member] | Northridge - Bismarck, ND [Member] | Maximum [Member]
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate, Gross [Abstract]
Life on which depreciation in latest income statement is computed	37 years
Multi-Family Residential [Member] | Oakmont Estates - Sioux Falls, SD [Member]
Real Estate And Accumulated Depreciation [Abstract]
Encumbrances				0
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate and Accumulated Depreciation, Initial Cost [Abstract]
Land				422
Buildings & Improvements				4,838
Costs capitalized subsequent to acquisition				1,361
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate, Gross [Abstract]
Land				705
Buildings & Improvements				5,916
Total	$ 6,621			6,621
Accumulated Depreciation	(2,438)			(2,438)
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate [Roll Forward]
Balance at close of year	6,621
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate, Accumulated Depreciation [Roll Forward]
Balance at beginning of year	2,438			2,438
Deductions during year [Abstract]
Balance at close of year	$ 2,438
Multi-Family Residential [Member] | Oakmont Estates - Sioux Falls, SD [Member] | Minimum [Member]
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate, Gross [Abstract]
Life on which depreciation in latest income statement is computed	30 years
Multi-Family Residential [Member] | Oakmont Estates - Sioux Falls, SD [Member] | Maximum [Member]
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate, Gross [Abstract]
Life on which depreciation in latest income statement is computed	37 years
Multi-Family Residential [Member] | Oakwood Estates - Sioux Falls, SD [Member]
Real Estate And Accumulated Depreciation [Abstract]
Encumbrances				0
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate and Accumulated Depreciation, Initial Cost [Abstract]
Land				543
Buildings & Improvements				2,784
Costs capitalized subsequent to acquisition				4,741
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate, Gross [Abstract]
Land				868
Buildings & Improvements				7,200
Total	$ 8,068			8,068
Accumulated Depreciation	(5,004)			(5,004)
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate [Roll Forward]
Balance at close of year	8,068
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate, Accumulated Depreciation [Roll Forward]
Balance at beginning of year	5,004			5,004
Deductions during year [Abstract]
Balance at close of year	$ 5,004
Multi-Family Residential [Member] | Oakwood Estates - Sioux Falls, SD [Member] | Minimum [Member]
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate, Gross [Abstract]
Life on which depreciation in latest income statement is computed	30 years
Multi-Family Residential [Member] | Oakwood Estates - Sioux Falls, SD [Member] | Maximum [Member]
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate, Gross [Abstract]
Life on which depreciation in latest income statement is computed	37 years
Multi-Family Residential [Member] | Olympic Village - Billings, MT [Member]
Real Estate And Accumulated Depreciation [Abstract]
Encumbrances				9,933
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate and Accumulated Depreciation, Initial Cost [Abstract]
Land				1,164
Buildings & Improvements				10,441
Costs capitalized subsequent to acquisition				3,818
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate, Gross [Abstract]
Land				1,824
Buildings & Improvements				13,599
Total	$ 15,423			15,423
Accumulated Depreciation	(6,454)			(6,454)
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate [Roll Forward]
Balance at close of year	15,423
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate, Accumulated Depreciation [Roll Forward]
Balance at beginning of year	6,454			6,454
Deductions during year [Abstract]
Balance at close of year	$ 6,454
Multi-Family Residential [Member] | Olympic Village - Billings, MT [Member] | Minimum [Member]
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate, Gross [Abstract]
Life on which depreciation in latest income statement is computed	30 years
Multi-Family Residential [Member] | Olympic Village - Billings, MT [Member] | Maximum [Member]
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate, Gross [Abstract]
Life on which depreciation in latest income statement is computed	37 years
Multi-Family Residential [Member] | Olympik Village - Rochester, MN [Member]
Real Estate And Accumulated Depreciation [Abstract]
Encumbrances				3,991
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate and Accumulated Depreciation, Initial Cost [Abstract]
Land				1,034
Buildings & Improvements				6,109
Costs capitalized subsequent to acquisition				2,597
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate, Gross [Abstract]
Land				1,271
Buildings & Improvements				8,469
Total	$ 9,740			9,740
Accumulated Depreciation	(2,992)			(2,992)
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate [Roll Forward]
Balance at close of year	9,740
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate, Accumulated Depreciation [Roll Forward]
Balance at beginning of year	2,992			2,992
Deductions during year [Abstract]
Balance at close of year	$ 2,992
Multi-Family Residential [Member] | Olympik Village - Rochester, MN [Member] | Minimum [Member]
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate, Gross [Abstract]
Life on which depreciation in latest income statement is computed	30 years
Multi-Family Residential [Member] | Olympik Village - Rochester, MN [Member] | Maximum [Member]
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate, Gross [Abstract]
Life on which depreciation in latest income statement is computed	37 years
Multi-Family Residential [Member] | Oxbo - St Paul, MN [Member]
Real Estate And Accumulated Depreciation [Abstract]
Encumbrances				0
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate and Accumulated Depreciation, Initial Cost [Abstract]
Land				5,809
Buildings & Improvements				51,586
Costs capitalized subsequent to acquisition				66
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate, Gross [Abstract]
Land				5,809
Buildings & Improvements				51,652
Total	$ 57,461			57,461
Accumulated Depreciation	(1,759)			(1,759)
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate [Roll Forward]
Balance at close of year	57,461
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate, Accumulated Depreciation [Roll Forward]
Balance at beginning of year	1,759			1,759
Deductions during year [Abstract]
Balance at close of year	$ 1,759
Multi-Family Residential [Member] | Oxbo - St Paul, MN [Member] | Minimum [Member]
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate, Gross [Abstract]
Life on which depreciation in latest income statement is computed	30 years
Multi-Family Residential [Member] | Oxbo - St Paul, MN [Member] | Maximum [Member]
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate, Gross [Abstract]
Life on which depreciation in latest income statement is computed	37 years
Multi-Family Residential [Member] | Oxbow Park - Sioux Falls, SD [Member]
Real Estate And Accumulated Depreciation [Abstract]
Encumbrances				0
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate and Accumulated Depreciation, Initial Cost [Abstract]
Land				404
Buildings & Improvements				3,152
Costs capitalized subsequent to acquisition				3,707
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate, Gross [Abstract]
Land				990
Buildings & Improvements				6,273
Total	$ 7,263			7,263
Accumulated Depreciation	(4,227)			(4,227)
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate [Roll Forward]
Balance at close of year	7,263
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate, Accumulated Depreciation [Roll Forward]
Balance at beginning of year	4,227			4,227
Deductions during year [Abstract]
Balance at close of year	$ 4,227
Multi-Family Residential [Member] | Oxbow Park - Sioux Falls, SD [Member] | Minimum [Member]
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate, Gross [Abstract]
Life on which depreciation in latest income statement is computed	24 years
Multi-Family Residential [Member] | Oxbow Park - Sioux Falls, SD [Member] | Maximum [Member]
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate, Gross [Abstract]
Life on which depreciation in latest income statement is computed	37 years
Multi-Family Residential [Member] | Park Meadows - Waite Park, MN [Member]
Real Estate And Accumulated Depreciation [Abstract]
Encumbrances				8,041
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate and Accumulated Depreciation, Initial Cost [Abstract]
Land				1,143
Buildings & Improvements				9,099
Costs capitalized subsequent to acquisition				9,686
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate, Gross [Abstract]
Land				2,025
Buildings & Improvements				17,903
Total	$ 19,928			19,928
Accumulated Depreciation	(8,722)			(8,722)
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate [Roll Forward]
Balance at close of year	19,928
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate, Accumulated Depreciation [Roll Forward]
Balance at beginning of year	8,722			8,722
Deductions during year [Abstract]
Balance at close of year	$ 8,722
Multi-Family Residential [Member] | Park Meadows - Waite Park, MN [Member] | Minimum [Member]
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate, Gross [Abstract]
Life on which depreciation in latest income statement is computed	30 years
Multi-Family Residential [Member] | Park Meadows - Waite Park, MN [Member] | Maximum [Member]
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate, Gross [Abstract]
Life on which depreciation in latest income statement is computed	37 years
Multi-Family Residential [Member] | Park Place - Plymouth, MN [Member]
Real Estate And Accumulated Depreciation [Abstract]
Encumbrances				0
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate and Accumulated Depreciation, Initial Cost [Abstract]
Land				10,609
Buildings & Improvements				80,781
Costs capitalized subsequent to acquisition				1,967
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate, Gross [Abstract]
Land				10,609
Buildings & Improvements				82,748
Total	$ 93,357			93,357
Accumulated Depreciation	(1,819)			(1,819)
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate [Roll Forward]
Balance at close of year	93,357
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate, Accumulated Depreciation [Roll Forward]
Balance at beginning of year	1,819			1,819
Deductions during year [Abstract]
Balance at close of year	$ 1,819
Multi-Family Residential [Member] | Park Place - Plymouth, MN [Member] | Minimum [Member]
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate, Gross [Abstract]
Life on which depreciation in latest income statement is computed	30 years
Multi-Family Residential [Member] | Park Place - Plymouth, MN [Member] | Maximum [Member]
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate, Gross [Abstract]
Life on which depreciation in latest income statement is computed	37 years
Multi-Family Residential [Member] | Pebble Springs - Bismarck, ND [Member]
Real Estate And Accumulated Depreciation [Abstract]
Encumbrances				0
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate and Accumulated Depreciation, Initial Cost [Abstract]
Land				7
Buildings & Improvements				748
Costs capitalized subsequent to acquisition				228
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate, Gross [Abstract]
Land				63
Buildings & Improvements				920
Total	$ 983			983
Accumulated Depreciation	(459)			(459)
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate [Roll Forward]
Balance at close of year	983
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate, Accumulated Depreciation [Roll Forward]
Balance at beginning of year	459			459
Deductions during year [Abstract]
Balance at close of year	$ 459
Multi-Family Residential [Member] | Pebble Springs - Bismarck, ND [Member] | Minimum [Member]
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate, Gross [Abstract]
Life on which depreciation in latest income statement is computed	30 years
Multi-Family Residential [Member] | Pebble Springs - Bismarck, ND [Member] | Maximum [Member]
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate, Gross [Abstract]
Life on which depreciation in latest income statement is computed	37 years
Multi-Family Residential [Member] | Pinehurst - Billings, MT [Member]
Real Estate And Accumulated Depreciation [Abstract]
Encumbrances				0
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate and Accumulated Depreciation, Initial Cost [Abstract]
Land				72
Buildings & Improvements				687
Costs capitalized subsequent to acquisition				458
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate, Gross [Abstract]
Land				168
Buildings & Improvements				1,049
Total	$ 1,217			1,217
Accumulated Depreciation	(434)			(434)
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate [Roll Forward]
Balance at close of year	1,217
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate, Accumulated Depreciation [Roll Forward]
Balance at beginning of year	434			434
Deductions during year [Abstract]
Balance at close of year	$ 434
Multi-Family Residential [Member] | Pinehurst - Billings, MT [Member] | Minimum [Member]
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate, Gross [Abstract]
Life on which depreciation in latest income statement is computed	30 years
Multi-Family Residential [Member] | Pinehurst - Billings, MT [Member] | Maximum [Member]
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate, Gross [Abstract]
Life on which depreciation in latest income statement is computed	37 years
Multi-Family Residential [Member] | Plaza - Minot, ND [Member]
Real Estate And Accumulated Depreciation [Abstract]
Encumbrances				4,915
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate and Accumulated Depreciation, Initial Cost [Abstract]
Land				867
Buildings & Improvements				12,784
Costs capitalized subsequent to acquisition				2,864
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate, Gross [Abstract]
Land				998
Buildings & Improvements				15,517
Total	$ 16,515			16,515
Accumulated Depreciation	(3,958)			(3,958)
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate [Roll Forward]
Balance at close of year	16,515
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate, Accumulated Depreciation [Roll Forward]
Balance at beginning of year	3,958			3,958
Deductions during year [Abstract]
Balance at close of year	$ 3,958
Multi-Family Residential [Member] | Plaza - Minot, ND [Member] | Minimum [Member]
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate, Gross [Abstract]
Life on which depreciation in latest income statement is computed	30 years
Multi-Family Residential [Member] | Plaza - Minot, ND [Member] | Maximum [Member]
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate, Gross [Abstract]
Life on which depreciation in latest income statement is computed	37 years
Multi-Family Residential [Member] | Pointe West - Rapid City, SD [Member]
Real Estate And Accumulated Depreciation [Abstract]
Encumbrances				2,438
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate and Accumulated Depreciation, Initial Cost [Abstract]
Land				240
Buildings & Improvements				3,538
Costs capitalized subsequent to acquisition				2,022
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate, Gross [Abstract]
Land				410
Buildings & Improvements				5,390
Total	$ 5,800			5,800
Accumulated Depreciation	(3,032)			(3,032)
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate [Roll Forward]
Balance at close of year	5,800
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate, Accumulated Depreciation [Roll Forward]
Balance at beginning of year	3,032			3,032
Deductions during year [Abstract]
Balance at close of year	$ 3,032
Multi-Family Residential [Member] | Pointe West - Rapid City, SD [Member] | Minimum [Member]
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate, Gross [Abstract]
Life on which depreciation in latest income statement is computed	24 years
Multi-Family Residential [Member] | Pointe West - Rapid City, SD [Member] | Maximum [Member]
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate, Gross [Abstract]
Life on which depreciation in latest income statement is computed	37 years
Multi-Family Residential [Member] | Ponds at Heritage Place - Sartell, MN [Member]
Real Estate And Accumulated Depreciation [Abstract]
Encumbrances				0
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate and Accumulated Depreciation, Initial Cost [Abstract]
Land				395
Buildings & Improvements				4,564
Costs capitalized subsequent to acquisition				441
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate, Gross [Abstract]
Land				410
Buildings & Improvements				4,990
Total	$ 5,400			5,400
Accumulated Depreciation	(919)			(919)
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate [Roll Forward]
Balance at close of year	5,400
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate, Accumulated Depreciation [Roll Forward]
Balance at beginning of year	919			919
Deductions during year [Abstract]
Balance at close of year	$ 919
Multi-Family Residential [Member] | Ponds at Heritage Place - Sartell, MN [Member] | Minimum [Member]
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate, Gross [Abstract]
Life on which depreciation in latest income statement is computed	30 years
Multi-Family Residential [Member] | Ponds at Heritage Place - Sartell, MN [Member] | Maximum [Member]
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate, Gross [Abstract]
Life on which depreciation in latest income statement is computed	37 years
Multi-Family Residential [Member] | Prairie Winds - Sioux Falls, SD [Member]
Real Estate And Accumulated Depreciation [Abstract]
Encumbrances				1,315
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate and Accumulated Depreciation, Initial Cost [Abstract]
Land				144
Buildings & Improvements				1,816
Costs capitalized subsequent to acquisition				732
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate, Gross [Abstract]
Land				309
Buildings & Improvements				2,383
Total	$ 2,692			2,692
Accumulated Depreciation	(1,509)			(1,509)
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate [Roll Forward]
Balance at close of year	2,692
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate, Accumulated Depreciation [Roll Forward]
Balance at beginning of year	1,509			1,509
Deductions during year [Abstract]
Balance at close of year	$ 1,509
Multi-Family Residential [Member] | Prairie Winds - Sioux Falls, SD [Member] | Minimum [Member]
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate, Gross [Abstract]
Life on which depreciation in latest income statement is computed	24 years
Multi-Family Residential [Member] | Prairie Winds - Sioux Falls, SD [Member] | Maximum [Member]
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate, Gross [Abstract]
Life on which depreciation in latest income statement is computed	37 years
Multi-Family Residential [Member] | Quarry Ridge - Rochester, MN [Member]
Real Estate And Accumulated Depreciation [Abstract]
Encumbrances				25,662
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate and Accumulated Depreciation, Initial Cost [Abstract]
Land				2,254
Buildings & Improvements				30,024
Costs capitalized subsequent to acquisition				2,058
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate, Gross [Abstract]
Land				2,406
Buildings & Improvements				31,930
Total	$ 34,336			34,336
Accumulated Depreciation	(7,649)			(7,649)
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate [Roll Forward]
Balance at close of year	34,336
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate, Accumulated Depreciation [Roll Forward]
Balance at beginning of year	7,649			7,649
Deductions during year [Abstract]
Balance at close of year	$ 7,649
Multi-Family Residential [Member] | Quarry Ridge - Rochester, MN [Member] | Minimum [Member]
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate, Gross [Abstract]
Life on which depreciation in latest income statement is computed	30 years
Multi-Family Residential [Member] | Quarry Ridge - Rochester, MN [Member] | Maximum [Member]
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate, Gross [Abstract]
Life on which depreciation in latest income statement is computed	37 years
Multi-Family Residential [Member] | Red 20 - Minneapolis, MN [Member]
Real Estate And Accumulated Depreciation [Abstract]
Encumbrances				22,518
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate and Accumulated Depreciation, Initial Cost [Abstract]
Land				1,900
Buildings & Improvements				24,116
Costs capitalized subsequent to acquisition				41
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate, Gross [Abstract]
Land				1,908
Buildings & Improvements				24,149
Total	$ 26,057			26,057
Accumulated Depreciation	(3,361)			(3,361)
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate [Roll Forward]
Balance at close of year	26,057
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate, Accumulated Depreciation [Roll Forward]
Balance at beginning of year	3,361			3,361
Deductions during year [Abstract]
Balance at close of year	$ 3,361
Multi-Family Residential [Member] | Red 20 - Minneapolis, MN [Member] | Minimum [Member]
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate, Gross [Abstract]
Life on which depreciation in latest income statement is computed	30 years
Multi-Family Residential [Member] | Red 20 - Minneapolis, MN [Member] | Maximum [Member]
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate, Gross [Abstract]
Life on which depreciation in latest income statement is computed	37 years
Multi-Family Residential [Member] | Regency Park Estates - St. Cloud, MN [Member]
Real Estate And Accumulated Depreciation [Abstract]
Encumbrances				7,976
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate and Accumulated Depreciation, Initial Cost [Abstract]
Land				702
Buildings & Improvements				10,198
Costs capitalized subsequent to acquisition				2,356
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate, Gross [Abstract]
Land				1,019
Buildings & Improvements				12,237
Total	$ 13,256			13,256
Accumulated Depreciation	(2,637)			(2,637)
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate [Roll Forward]
Balance at close of year	13,256
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate, Accumulated Depreciation [Roll Forward]
Balance at beginning of year	2,637			2,637
Deductions during year [Abstract]
Balance at close of year	$ 2,637
Multi-Family Residential [Member] | Regency Park Estates - St. Cloud, MN [Member] | Minimum [Member]
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate, Gross [Abstract]
Life on which depreciation in latest income statement is computed	30 years
Multi-Family Residential [Member] | Regency Park Estates - St. Cloud, MN [Member] | Maximum [Member]
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate, Gross [Abstract]
Life on which depreciation in latest income statement is computed	37 years
Multi-Family Residential [Member] | Renaissance Heights - Williston, ND [Member]
Real Estate And Accumulated Depreciation [Abstract]
Encumbrances				22,739
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate and Accumulated Depreciation, Initial Cost [Abstract]
Land				3,080
Buildings & Improvements				15,389
Costs capitalized subsequent to acquisition				265
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate, Gross [Abstract]
Land				3,117
Buildings & Improvements				15,617
Total	$ 18,734			18,734
Accumulated Depreciation	(826)			(826)
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate [Roll Forward]
Balance at close of year	18,734
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate, Accumulated Depreciation [Roll Forward]
Balance at beginning of year	826			826
Deductions during year [Abstract]
Balance at close of year	$ 826
Multi-Family Residential [Member] | Renaissance Heights - Williston, ND [Member] | Minimum [Member]
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate, Gross [Abstract]
Life on which depreciation in latest income statement is computed	30 years
Multi-Family Residential [Member] | Renaissance Heights - Williston, ND [Member] | Maximum [Member]
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate, Gross [Abstract]
Life on which depreciation in latest income statement is computed	37 years
Multi-Family Residential [Member] | Ridge Oaks - Sioux City, IA [Member]
Real Estate And Accumulated Depreciation [Abstract]
Encumbrances				3,175
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate and Accumulated Depreciation, Initial Cost [Abstract]
Land				178
Buildings & Improvements				4,073
Costs capitalized subsequent to acquisition				2,921
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate, Gross [Abstract]
Land				307
Buildings & Improvements				6,865
Total	$ 7,172			7,172
Accumulated Depreciation	(2,999)			(2,999)
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate [Roll Forward]
Balance at close of year	7,172
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate, Accumulated Depreciation [Roll Forward]
Balance at beginning of year	2,999			2,999
Deductions during year [Abstract]
Balance at close of year	$ 2,999
Multi-Family Residential [Member] | Ridge Oaks - Sioux City, IA [Member] | Minimum [Member]
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate, Gross [Abstract]
Life on which depreciation in latest income statement is computed	30 years
Multi-Family Residential [Member] | Ridge Oaks - Sioux City, IA [Member] | Maximum [Member]
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate, Gross [Abstract]
Life on which depreciation in latest income statement is computed	37 years
Multi-Family Residential [Member] | Rimrock West - Billings, MT [Member]
Real Estate And Accumulated Depreciation [Abstract]
Encumbrances				3,092
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate and Accumulated Depreciation, Initial Cost [Abstract]
Land				330
Buildings & Improvements				3,489
Costs capitalized subsequent to acquisition				2,018
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate, Gross [Abstract]
Land				516
Buildings & Improvements				5,321
Total	$ 5,837			5,837
Accumulated Depreciation	(2,425)			(2,425)
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate [Roll Forward]
Balance at close of year	5,837
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate, Accumulated Depreciation [Roll Forward]
Balance at beginning of year	2,425			2,425
Deductions during year [Abstract]
Balance at close of year	$ 2,425
Multi-Family Residential [Member] | Rimrock West - Billings, MT [Member] | Minimum [Member]
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate, Gross [Abstract]
Life on which depreciation in latest income statement is computed	30 years
Multi-Family Residential [Member] | Rimrock West - Billings, MT [Member] | Maximum [Member]
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate, Gross [Abstract]
Life on which depreciation in latest income statement is computed	37 years
Multi-Family Residential [Member] | River Ridge - Bismarck, ND [Member]
Real Estate And Accumulated Depreciation [Abstract]
Encumbrances				0
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate and Accumulated Depreciation, Initial Cost [Abstract]
Land				576
Buildings & Improvements				24,670
Costs capitalized subsequent to acquisition				870
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate, Gross [Abstract]
Land				779
Buildings & Improvements				25,337
Total	$ 26,116			26,116
Accumulated Depreciation	(4,492)			(4,492)
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate [Roll Forward]
Balance at close of year	26,116
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate, Accumulated Depreciation [Roll Forward]
Balance at beginning of year	4,492			4,492
Deductions during year [Abstract]
Balance at close of year	$ 4,492
Multi-Family Residential [Member] | River Ridge - Bismarck, ND [Member] | Minimum [Member]
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate, Gross [Abstract]
Life on which depreciation in latest income statement is computed	30 years
Multi-Family Residential [Member] | River Ridge - Bismarck, ND [Member] | Maximum [Member]
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate, Gross [Abstract]
Life on which depreciation in latest income statement is computed	37 years
Multi-Family Residential [Member] | Rocky Meadows - Billings, MT [Member]
Real Estate And Accumulated Depreciation [Abstract]
Encumbrances				4,795
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate and Accumulated Depreciation, Initial Cost [Abstract]
Land				656
Buildings & Improvements				5,726
Costs capitalized subsequent to acquisition				1,531
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate, Gross [Abstract]
Land				802
Buildings & Improvements				7,111
Total	$ 7,913			7,913
Accumulated Depreciation	(3,849)			(3,849)
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate [Roll Forward]
Balance at close of year	7,913
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate, Accumulated Depreciation [Roll Forward]
Balance at beginning of year	3,849			3,849
Deductions during year [Abstract]
Balance at close of year	$ 3,849
Multi-Family Residential [Member] | Rocky Meadows - Billings, MT [Member] | Minimum [Member]
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate, Gross [Abstract]
Life on which depreciation in latest income statement is computed	30 years
Multi-Family Residential [Member] | Rocky Meadows - Billings, MT [Member] | Maximum [Member]
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate, Gross [Abstract]
Life on which depreciation in latest income statement is computed	37 years
Multi-Family Residential [Member] | Rum River - Isanti, MN [Member]
Real Estate And Accumulated Depreciation [Abstract]
Encumbrances				3,294
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate and Accumulated Depreciation, Initial Cost [Abstract]
Land				843
Buildings & Improvements				4,823
Costs capitalized subsequent to acquisition				391
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate, Gross [Abstract]
Land				864
Buildings & Improvements				5,193
Total	$ 6,057			6,057
Accumulated Depreciation	(1,543)			(1,543)
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate [Roll Forward]
Balance at close of year	6,057
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate, Accumulated Depreciation [Roll Forward]
Balance at beginning of year	1,543			1,543
Deductions during year [Abstract]
Balance at close of year	$ 1,543
Multi-Family Residential [Member] | Rum River - Isanti, MN [Member] | Minimum [Member]
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate, Gross [Abstract]
Life on which depreciation in latest income statement is computed	30 years
Multi-Family Residential [Member] | Rum River - Isanti, MN [Member] | Maximum [Member]
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate, Gross [Abstract]
Life on which depreciation in latest income statement is computed	37 years
Multi-Family Residential [Member] | Sherwood - Topeka, KS [Member]
Real Estate And Accumulated Depreciation [Abstract]
Encumbrances				11,439
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate and Accumulated Depreciation, Initial Cost [Abstract]
Land				1,142
Buildings & Improvements				14,684
Costs capitalized subsequent to acquisition				5,036
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate, Gross [Abstract]
Land				1,996
Buildings & Improvements				18,866
Total	$ 20,862			20,862
Accumulated Depreciation	(8,743)			(8,743)
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate [Roll Forward]
Balance at close of year	20,862
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate, Accumulated Depreciation [Roll Forward]
Balance at beginning of year	8,743			8,743
Deductions during year [Abstract]
Balance at close of year	$ 8,743
Multi-Family Residential [Member] | Sherwood - Topeka, KS [Member] | Minimum [Member]
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate, Gross [Abstract]
Life on which depreciation in latest income statement is computed	30 years
Multi-Family Residential [Member] | Sherwood - Topeka, KS [Member] | Maximum [Member]
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate, Gross [Abstract]
Life on which depreciation in latest income statement is computed	37 years
Multi-Family Residential [Member] | Sierra Vista - Sioux Falls, SD [Member]
Real Estate And Accumulated Depreciation [Abstract]
Encumbrances				0
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate and Accumulated Depreciation, Initial Cost [Abstract]
Land				241
Buildings & Improvements				2,097
Costs capitalized subsequent to acquisition				581
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate, Gross [Abstract]
Land				283
Buildings & Improvements				2,636
Total	$ 2,919			2,919
Accumulated Depreciation	(571)			(571)
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate [Roll Forward]
Balance at close of year	2,919
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate, Accumulated Depreciation [Roll Forward]
Balance at beginning of year	571			571
Deductions during year [Abstract]
Balance at close of year	$ 571
Multi-Family Residential [Member] | Sierra Vista - Sioux Falls, SD [Member] | Minimum [Member]
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate, Gross [Abstract]
Life on which depreciation in latest income statement is computed	30 years
Multi-Family Residential [Member] | Sierra Vista - Sioux Falls, SD [Member] | Maximum [Member]
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate, Gross [Abstract]
Life on which depreciation in latest income statement is computed	37 years
Multi-Family Residential [Member] | Silver Springs - Rapid City, SD [Member]
Real Estate And Accumulated Depreciation [Abstract]
Encumbrances				2,116
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate and Accumulated Depreciation, Initial Cost [Abstract]
Land				215
Buildings & Improvements				3,007
Costs capitalized subsequent to acquisition				639
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate, Gross [Abstract]
Land				256
Buildings & Improvements				3,605
Total	$ 3,861			3,861
Accumulated Depreciation	(448)			(448)
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate [Roll Forward]
Balance at close of year	3,861
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate, Accumulated Depreciation [Roll Forward]
Balance at beginning of year	448			448
Deductions during year [Abstract]
Balance at close of year	$ 448
Multi-Family Residential [Member] | Silver Springs - Rapid City, SD [Member] | Minimum [Member]
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate, Gross [Abstract]
Life on which depreciation in latest income statement is computed	30 years
Multi-Family Residential [Member] | Silver Springs - Rapid City, SD [Member] | Maximum [Member]
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate, Gross [Abstract]
Life on which depreciation in latest income statement is computed	37 years
Multi-Family Residential [Member] | South Pointe - Minot, ND [Member]
Real Estate And Accumulated Depreciation [Abstract]
Encumbrances				8,018
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate and Accumulated Depreciation, Initial Cost [Abstract]
Land				550
Buildings & Improvements				9,548
Costs capitalized subsequent to acquisition				5,208
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate, Gross [Abstract]
Land				1,372
Buildings & Improvements				13,934
Total	$ 15,306			15,306
Accumulated Depreciation	(7,460)			(7,460)
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate [Roll Forward]
Balance at close of year	15,306
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate, Accumulated Depreciation [Roll Forward]
Balance at beginning of year	7,460			7,460
Deductions during year [Abstract]
Balance at close of year	$ 7,460
Multi-Family Residential [Member] | South Pointe - Minot, ND [Member] | Minimum [Member]
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate, Gross [Abstract]
Life on which depreciation in latest income statement is computed	24 years
Multi-Family Residential [Member] | South Pointe - Minot, ND [Member] | Maximum [Member]
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate, Gross [Abstract]
Life on which depreciation in latest income statement is computed	37 years
Multi-Family Residential [Member] | Southpoint - Grand Forks, ND [Member]
Real Estate And Accumulated Depreciation [Abstract]
Encumbrances				0
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate and Accumulated Depreciation, Initial Cost [Abstract]
Land				576
Buildings & Improvements				9,893
Costs capitalized subsequent to acquisition				166
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate, Gross [Abstract]
Land				633
Buildings & Improvements				10,002
Total	$ 10,635			10,635
Accumulated Depreciation	(1,302)			(1,302)
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate [Roll Forward]
Balance at close of year	10,635
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate, Accumulated Depreciation [Roll Forward]
Balance at beginning of year	1,302			1,302
Deductions during year [Abstract]
Balance at close of year	$ 1,302
Multi-Family Residential [Member] | Southpoint - Grand Forks, ND [Member] | Minimum [Member]
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate, Gross [Abstract]
Life on which depreciation in latest income statement is computed	30 years
Multi-Family Residential [Member] | Southpoint - Grand Forks, ND [Member] | Maximum [Member]
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate, Gross [Abstract]
Life on which depreciation in latest income statement is computed	37 years
Multi-Family Residential [Member] | Southwind - Grand Forks, ND [Member]
Real Estate And Accumulated Depreciation [Abstract]
Encumbrances				5,125
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate and Accumulated Depreciation, Initial Cost [Abstract]
Land				400
Buildings & Improvements				5,034
Costs capitalized subsequent to acquisition				3,553
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate, Gross [Abstract]
Land				825
Buildings & Improvements				8,162
Total	$ 8,987			8,987
Accumulated Depreciation	(4,680)			(4,680)
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate [Roll Forward]
Balance at close of year	8,987
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate, Accumulated Depreciation [Roll Forward]
Balance at beginning of year	4,680			4,680
Deductions during year [Abstract]
Balance at close of year	$ 4,680
Multi-Family Residential [Member] | Southwind - Grand Forks, ND [Member] | Minimum [Member]
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate, Gross [Abstract]
Life on which depreciation in latest income statement is computed	24 years
Multi-Family Residential [Member] | Southwind - Grand Forks, ND [Member] | Maximum [Member]
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate, Gross [Abstract]
Life on which depreciation in latest income statement is computed	37 years
Multi-Family Residential [Member] | Sunset Trail - Rochester, MN [Member]
Real Estate And Accumulated Depreciation [Abstract]
Encumbrances				7,581
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate and Accumulated Depreciation, Initial Cost [Abstract]
Land				336
Buildings & Improvements				12,814
Costs capitalized subsequent to acquisition				3,239
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate, Gross [Abstract]
Land				720
Buildings & Improvements				15,669
Total	$ 16,389			16,389
Accumulated Depreciation	(7,108)			(7,108)
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate [Roll Forward]
Balance at close of year	16,389
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate, Accumulated Depreciation [Roll Forward]
Balance at beginning of year	7,108			7,108
Deductions during year [Abstract]
Balance at close of year	$ 7,108
Multi-Family Residential [Member] | Sunset Trail - Rochester, MN [Member] | Minimum [Member]
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate, Gross [Abstract]
Life on which depreciation in latest income statement is computed	30 years
Multi-Family Residential [Member] | Sunset Trail - Rochester, MN [Member] | Maximum [Member]
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate, Gross [Abstract]
Life on which depreciation in latest income statement is computed	37 years
Multi-Family Residential [Member] | Thomasbrook - Lincoln, NE [Member]
Real Estate And Accumulated Depreciation [Abstract]
Encumbrances				5,574
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate and Accumulated Depreciation, Initial Cost [Abstract]
Land				600
Buildings & Improvements				10,306
Costs capitalized subsequent to acquisition				5,139
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate, Gross [Abstract]
Land				1,642
Buildings & Improvements				14,403
Total	$ 16,045			16,045
Accumulated Depreciation	(6,178)			(6,178)
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate [Roll Forward]
Balance at close of year	16,045
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate, Accumulated Depreciation [Roll Forward]
Balance at beginning of year	6,178			6,178
Deductions during year [Abstract]
Balance at close of year	$ 6,178
Multi-Family Residential [Member] | Thomasbrook - Lincoln, NE [Member] | Minimum [Member]
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate, Gross [Abstract]
Life on which depreciation in latest income statement is computed	30 years
Multi-Family Residential [Member] | Thomasbrook - Lincoln, NE [Member] | Maximum [Member]
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate, Gross [Abstract]
Life on which depreciation in latest income statement is computed	37 years
Multi-Family Residential [Member] | Valley Park - Grand Forks, ND [Member]
Real Estate And Accumulated Depreciation [Abstract]
Encumbrances				3,607
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate and Accumulated Depreciation, Initial Cost [Abstract]
Land				294
Buildings & Improvements				4,137
Costs capitalized subsequent to acquisition				3,950
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate, Gross [Abstract]
Land				1,193
Buildings & Improvements				7,188
Total	$ 8,381			8,381
Accumulated Depreciation	(3,719)			(3,719)
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate [Roll Forward]
Balance at close of year	8,381
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate, Accumulated Depreciation [Roll Forward]
Balance at beginning of year	3,719			3,719
Deductions during year [Abstract]
Balance at close of year	$ 3,719
Multi-Family Residential [Member] | Valley Park - Grand Forks, ND [Member] | Minimum [Member]
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate, Gross [Abstract]
Life on which depreciation in latest income statement is computed	30 years
Multi-Family Residential [Member] | Valley Park - Grand Forks, ND [Member] | Maximum [Member]
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate, Gross [Abstract]
Life on which depreciation in latest income statement is computed	37 years
Multi-Family Residential [Member] | Villa West - Topeka, KS [Member]
Real Estate And Accumulated Depreciation [Abstract]
Encumbrances				11,523
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate and Accumulated Depreciation, Initial Cost [Abstract]
Land				1,590
Buildings & Improvements				15,760
Costs capitalized subsequent to acquisition				1,664
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate, Gross [Abstract]
Land				2,226
Buildings & Improvements				16,788
Total	$ 19,014			19,014
Accumulated Depreciation	(3,177)			(3,177)
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate [Roll Forward]
Balance at close of year	19,014
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate, Accumulated Depreciation [Roll Forward]
Balance at beginning of year	3,177			3,177
Deductions during year [Abstract]
Balance at close of year	$ 3,177
Multi-Family Residential [Member] | Villa West - Topeka, KS [Member] | Minimum [Member]
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate, Gross [Abstract]
Life on which depreciation in latest income statement is computed	30 years
Multi-Family Residential [Member] | Villa West - Topeka, KS [Member] | Maximum [Member]
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate, Gross [Abstract]
Life on which depreciation in latest income statement is computed	37 years
Multi-Family Residential [Member] | Village Green - Rochester, MN [Member]
Real Estate And Accumulated Depreciation [Abstract]
Encumbrances				0
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate and Accumulated Depreciation, Initial Cost [Abstract]
Land				234
Buildings & Improvements				2,296
Costs capitalized subsequent to acquisition				1,047
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate, Gross [Abstract]
Land				359
Buildings & Improvements				3,218
Total	$ 3,577			3,577
Accumulated Depreciation	(1,281)			(1,281)
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate [Roll Forward]
Balance at close of year	3,577
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate, Accumulated Depreciation [Roll Forward]
Balance at beginning of year	1,281			1,281
Deductions during year [Abstract]
Balance at close of year	$ 1,281
Multi-Family Residential [Member] | Village Green - Rochester, MN [Member] | Minimum [Member]
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate, Gross [Abstract]
Life on which depreciation in latest income statement is computed	30 years
Multi-Family Residential [Member] | Village Green - Rochester, MN [Member] | Maximum [Member]
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate, Gross [Abstract]
Life on which depreciation in latest income statement is computed	37 years
Multi-Family Residential [Member] | Westend - Denver CO [Member]
Real Estate And Accumulated Depreciation [Abstract]
Encumbrances				0
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate and Accumulated Depreciation, Initial Cost [Abstract]
Land				25,525
Buildings & Improvements				102,180
Costs capitalized subsequent to acquisition				0
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate, Gross [Abstract]
Land				25,525
Buildings & Improvements				102,180
Total	$ 127,705			127,705
Accumulated Depreciation	(501)			(501)
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate [Roll Forward]
Balance at close of year	127,705
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate, Accumulated Depreciation [Roll Forward]
Balance at beginning of year	501			501
Deductions during year [Abstract]
Balance at close of year	$ 501
Multi-Family Residential [Member] | Westend - Denver CO [Member] | Minimum [Member]
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate, Gross [Abstract]
Life on which depreciation in latest income statement is computed	30 years
Multi-Family Residential [Member] | Westend - Denver CO [Member] | Maximum [Member]
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate, Gross [Abstract]
Life on which depreciation in latest income statement is computed	37 years
Multi-Family Residential [Member] | West Stonehill - Waite Park, MN [Member]
Real Estate And Accumulated Depreciation [Abstract]
Encumbrances				7,865
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate and Accumulated Depreciation, Initial Cost [Abstract]
Land				939
Buildings & Improvements				10,167
Costs capitalized subsequent to acquisition				7,593
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate, Gross [Abstract]
Land				1,810
Buildings & Improvements				16,889
Total	$ 18,699			18,699
Accumulated Depreciation	(9,013)			(9,013)
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate [Roll Forward]
Balance at close of year	18,699
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate, Accumulated Depreciation [Roll Forward]
Balance at beginning of year	9,013			9,013
Deductions during year [Abstract]
Balance at close of year	$ 9,013
Multi-Family Residential [Member] | West Stonehill - Waite Park, MN [Member] | Minimum [Member]
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate, Gross [Abstract]
Life on which depreciation in latest income statement is computed	30 years
Multi-Family Residential [Member] | West Stonehill - Waite Park, MN [Member] | Maximum [Member]
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate, Gross [Abstract]
Life on which depreciation in latest income statement is computed	37 years
Multi-Family Residential [Member] | Westwood Park - Bismarck, ND [Member]
Real Estate And Accumulated Depreciation [Abstract]
Encumbrances				1,841
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate and Accumulated Depreciation, Initial Cost [Abstract]
Land				116
Buildings & Improvements				1,909
Costs capitalized subsequent to acquisition				2,043
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate, Gross [Abstract]
Land				292
Buildings & Improvements				3,776
Total	$ 4,068			4,068
Accumulated Depreciation	(1,987)			(1,987)
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate [Roll Forward]
Balance at close of year	4,068
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate, Accumulated Depreciation [Roll Forward]
Balance at beginning of year	1,987			1,987
Deductions during year [Abstract]
Balance at close of year	$ 1,987
Multi-Family Residential [Member] | Westwood Park - Bismarck, ND [Member] | Minimum [Member]
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate, Gross [Abstract]
Life on which depreciation in latest income statement is computed	30 years
Multi-Family Residential [Member] | Westwood Park - Bismarck, ND [Member] | Maximum [Member]
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate, Gross [Abstract]
Life on which depreciation in latest income statement is computed	37 years
Multi-Family Residential [Member] | Whispering Ridge - Omaha, NE [Member]
Real Estate And Accumulated Depreciation [Abstract]
Encumbrances				20,844
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate and Accumulated Depreciation, Initial Cost [Abstract]
Land				2,139
Buildings & Improvements				25,424
Costs capitalized subsequent to acquisition				1,542
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate, Gross [Abstract]
Land				2,418
Buildings & Improvements				26,687
Total	$ 29,105			29,105
Accumulated Depreciation	(4,407)			(4,407)
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate [Roll Forward]
Balance at close of year	29,105
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate, Accumulated Depreciation [Roll Forward]
Balance at beginning of year	4,407			4,407
Deductions during year [Abstract]
Balance at close of year	$ 4,407
Multi-Family Residential [Member] | Whispering Ridge - Omaha, NE [Member] | Minimum [Member]
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate, Gross [Abstract]
Life on which depreciation in latest income statement is computed	30 years
Multi-Family Residential [Member] | Whispering Ridge - Omaha, NE [Member] | Maximum [Member]
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate, Gross [Abstract]
Life on which depreciation in latest income statement is computed	37 years
Multi-Family Residential [Member] | Williston Garden - Williston, ND [Member]
Real Estate And Accumulated Depreciation [Abstract]
Encumbrances				6,283
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate and Accumulated Depreciation, Initial Cost [Abstract]
Land				1,400
Buildings & Improvements				10,200
Costs capitalized subsequent to acquisition				336
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate, Gross [Abstract]
Land				1,445
Buildings & Improvements				10,491
Total	$ 11,936			11,936
Accumulated Depreciation	(576)			(576)
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate [Roll Forward]
Balance at close of year	11,936
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate, Accumulated Depreciation [Roll Forward]
Balance at beginning of year	576			576
Deductions during year [Abstract]
Balance at close of year	$ 576
Multi-Family Residential [Member] | Williston Garden - Williston, ND [Member] | Minimum [Member]
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate, Gross [Abstract]
Life on which depreciation in latest income statement is computed	30 years
Multi-Family Residential [Member] | Williston Garden - Williston, ND [Member] | Maximum [Member]
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate, Gross [Abstract]
Life on which depreciation in latest income statement is computed	37 years
Multi-Family Residential [Member] | Winchester - Rochester, MN [Member]
Real Estate And Accumulated Depreciation [Abstract]
Encumbrances				0
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate and Accumulated Depreciation, Initial Cost [Abstract]
Land				748
Buildings & Improvements				5,622
Costs capitalized subsequent to acquisition				2,516
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate, Gross [Abstract]
Land				1,044
Buildings & Improvements				7,842
Total	$ 8,886			8,886
Accumulated Depreciation	(3,206)			(3,206)
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate [Roll Forward]
Balance at close of year	8,886
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate, Accumulated Depreciation [Roll Forward]
Balance at beginning of year	3,206			3,206
Deductions during year [Abstract]
Balance at close of year	$ 3,206
Multi-Family Residential [Member] | Winchester - Rochester, MN [Member] | Minimum [Member]
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate, Gross [Abstract]
Life on which depreciation in latest income statement is computed	30 years
Multi-Family Residential [Member] | Winchester - Rochester, MN [Member] | Maximum [Member]
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate, Gross [Abstract]
Life on which depreciation in latest income statement is computed	37 years
Multi-Family Residential [Member] | Woodridge - Rochester, MN [Member]
Real Estate And Accumulated Depreciation [Abstract]
Encumbrances				5,737
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate and Accumulated Depreciation, Initial Cost [Abstract]
Land				370
Buildings & Improvements				6,028
Costs capitalized subsequent to acquisition				3,089
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate, Gross [Abstract]
Land				750
Buildings & Improvements				8,737
Total	$ 9,487			9,487
Accumulated Depreciation	(4,663)			(4,663)
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate [Roll Forward]
Balance at close of year	9,487
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate, Accumulated Depreciation [Roll Forward]
Balance at beginning of year	4,663			4,663
Deductions during year [Abstract]
Balance at close of year	$ 4,663
Multi-Family Residential [Member] | Woodridge - Rochester, MN [Member] | Minimum [Member]
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate, Gross [Abstract]
Life on which depreciation in latest income statement is computed	30 years
Multi-Family Residential [Member] | Woodridge - Rochester, MN [Member] | Maximum [Member]
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate, Gross [Abstract]
Life on which depreciation in latest income statement is computed	37 years
Multi-Family Residential [Member] | Wholly Owned Properties [Member]
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate [Roll Forward]
Additions	$ 369,332	$ 61,565	$ 285,080
Other - Mixed Use [Member]
Real Estate And Accumulated Depreciation [Abstract]
Encumbrances				6,522
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate and Accumulated Depreciation, Initial Cost [Abstract]
Land				389
Buildings & Improvements				17,319
Costs capitalized subsequent to acquisition				4,947
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate, Gross [Abstract]
Land				598
Buildings & Improvements				22,057
Total	22,655			22,655
Accumulated Depreciation	(4,046)			(4,046)
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate [Roll Forward]
Balance at close of year	22,655
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate, Accumulated Depreciation [Roll Forward]
Balance at beginning of year	4,046			4,046
Deductions during year [Abstract]
Balance at close of year	4,046
Other - Mixed Use [Member] | 71 France - Edina, MN [Member]
Real Estate And Accumulated Depreciation [Abstract]
Encumbrances				0
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate and Accumulated Depreciation, Initial Cost [Abstract]
Land				0
Buildings & Improvements				5,879
Costs capitalized subsequent to acquisition				774
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate, Gross [Abstract]
Land				0
Buildings & Improvements				6,653
Total	6,653			6,653
Accumulated Depreciation	(397)			(397)
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate [Roll Forward]
Balance at close of year	6,653
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate, Accumulated Depreciation [Roll Forward]
Balance at beginning of year	397			397
Deductions during year [Abstract]
Balance at close of year	$ 397
Other - Mixed Use [Member] | 71 France - Edina, MN [Member] | Minimum [Member]
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate, Gross [Abstract]
Life on which depreciation in latest income statement is computed	30 years
Other - Mixed Use [Member] | 71 France - Edina, MN [Member] | Maximum [Member]
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate, Gross [Abstract]
Life on which depreciation in latest income statement is computed	37 years
Other - Mixed Use [Member] | Oxbo - St Paul, MN [Member]
Real Estate And Accumulated Depreciation [Abstract]
Encumbrances				0
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate and Accumulated Depreciation, Initial Cost [Abstract]
Land				0
Buildings & Improvements				3,471
Costs capitalized subsequent to acquisition				54
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate, Gross [Abstract]
Land				0
Buildings & Improvements				3,525
Total	$ 3,525			3,525
Accumulated Depreciation	(113)			(113)
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate [Roll Forward]
Balance at close of year	3,525
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate, Accumulated Depreciation [Roll Forward]
Balance at beginning of year	113			113
Deductions during year [Abstract]
Balance at close of year	$ 113
Other - Mixed Use [Member] | Oxbo - St Paul, MN [Member] | Minimum [Member]
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate, Gross [Abstract]
Life on which depreciation in latest income statement is computed	30 years
Other - Mixed Use [Member] | Oxbo - St Paul, MN [Member] | Maximum [Member]
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate, Gross [Abstract]
Life on which depreciation in latest income statement is computed	37 years
Other - Mixed Use [Member] | Plaza - Minot, ND [Member]
Real Estate And Accumulated Depreciation [Abstract]
Encumbrances				6,522
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate and Accumulated Depreciation, Initial Cost [Abstract]
Land				389
Buildings & Improvements				5,444
Costs capitalized subsequent to acquisition				3,764
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate, Gross [Abstract]
Land				598
Buildings & Improvements				8,999
Total	$ 9,597			9,597
Accumulated Depreciation	(3,226)			(3,226)
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate [Roll Forward]
Balance at close of year	9,597
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate, Accumulated Depreciation [Roll Forward]
Balance at beginning of year	3,226			3,226
Deductions during year [Abstract]
Balance at close of year	$ 3,226
Other - Mixed Use [Member] | Plaza - Minot, ND [Member] | Minimum [Member]
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate, Gross [Abstract]
Life on which depreciation in latest income statement is computed	30 years
Other - Mixed Use [Member] | Plaza - Minot, ND [Member] | Maximum [Member]
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate, Gross [Abstract]
Life on which depreciation in latest income statement is computed	37 years
Other - Mixed Use [Member] | Red 20 - Minneapolis, MN [Member]
Real Estate And Accumulated Depreciation [Abstract]
Encumbrances				0
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate and Accumulated Depreciation, Initial Cost [Abstract]
Land				0
Buildings & Improvements				2,525
Costs capitalized subsequent to acquisition				355
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate, Gross [Abstract]
Land				0
Buildings & Improvements				2,880
Total	$ 2,880			2,880
Accumulated Depreciation	(310)			(310)
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate [Roll Forward]
Balance at close of year	2,880
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate, Accumulated Depreciation [Roll Forward]
Balance at beginning of year	310			310
Deductions during year [Abstract]
Balance at close of year	$ 310
Other - Mixed Use [Member] | Red 20 - Minneapolis, MN [Member] | Minimum [Member]
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate, Gross [Abstract]
Life on which depreciation in latest income statement is computed	30 years
Other - Mixed Use [Member] | Red 20 - Minneapolis, MN [Member] | Maximum [Member]
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate, Gross [Abstract]
Life on which depreciation in latest income statement is computed	37 years
Other - Commercial [Member]
Real Estate And Accumulated Depreciation [Abstract]
Encumbrances				0
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate and Accumulated Depreciation, Initial Cost [Abstract]
Land				6,112
Buildings & Improvements				24,240
Costs capitalized subsequent to acquisition				10,336
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate, Gross [Abstract]
Land				6,214
Buildings & Improvements				34,474
Total	$ 40,688			40,688
Accumulated Depreciation	(12,801)			(12,801)
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate [Roll Forward]
Balance at close of year	40,688
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate, Accumulated Depreciation [Roll Forward]
Balance at beginning of year	12,801			12,801
Deductions during year [Abstract]
Balance at close of year	12,801
Other - Commercial [Member] | Bloomington 2000 W 94th Street - Bloomington, MN [Member]
Real Estate And Accumulated Depreciation [Abstract]
Encumbrances				0
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate and Accumulated Depreciation, Initial Cost [Abstract]
Land				2,133
Buildings & Improvements				1,864
Costs capitalized subsequent to acquisition				0
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate, Gross [Abstract]
Land				2,133
Buildings & Improvements				1,864
Total	3,997			3,997
Accumulated Depreciation	0			0
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate [Roll Forward]
Balance at close of year	3,997
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate, Accumulated Depreciation [Roll Forward]
Balance at beginning of year	0			0
Deductions during year [Abstract]
Balance at close of year	$ 0
Other - Commercial [Member] | Bloomington 2000 W 94th Street - Bloomington, MN [Member] | Minimum [Member]
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate, Gross [Abstract]
Life on which depreciation in latest income statement is computed	30 years
Other - Commercial [Member] | Bloomington 2000 W 94th Street - Bloomington, MN [Member] | Maximum [Member]
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate, Gross [Abstract]
Life on which depreciation in latest income statement is computed	37 years
Other - Commercial [Member] | Dakota West Plaza - Minot , ND [Member]
Real Estate And Accumulated Depreciation [Abstract]
Encumbrances				0
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate and Accumulated Depreciation, Initial Cost [Abstract]
Land				92
Buildings & Improvements				493
Costs capitalized subsequent to acquisition				30
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate, Gross [Abstract]
Land				106
Buildings & Improvements				509
Total	$ 615			615
Accumulated Depreciation	(173)			(173)
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate [Roll Forward]
Balance at close of year	615
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate, Accumulated Depreciation [Roll Forward]
Balance at beginning of year	173			173
Deductions during year [Abstract]
Balance at close of year	$ 173
Other - Commercial [Member] | Dakota West Plaza - Minot , ND [Member] | Minimum [Member]
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate, Gross [Abstract]
Life on which depreciation in latest income statement is computed	30 years
Other - Commercial [Member] | Dakota West Plaza - Minot , ND [Member] | Maximum [Member]
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate, Gross [Abstract]
Life on which depreciation in latest income statement is computed	37 years
Other - Commercial [Member] | Fresenius - Duluth, MN [Member]
Real Estate And Accumulated Depreciation [Abstract]
Encumbrances				0
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate and Accumulated Depreciation, Initial Cost [Abstract]
Land				50
Buildings & Improvements				1,520
Costs capitalized subsequent to acquisition				2
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate, Gross [Abstract]
Land				50
Buildings & Improvements				1,522
Total	$ 1,572			1,572
Accumulated Depreciation	(547)			(547)
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate [Roll Forward]
Balance at close of year	1,572
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate, Accumulated Depreciation [Roll Forward]
Balance at beginning of year	547			547
Deductions during year [Abstract]
Balance at close of year	$ 547
Other - Commercial [Member] | Fresenius - Duluth, MN [Member] | Minimum [Member]
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate, Gross [Abstract]
Life on which depreciation in latest income statement is computed	30 years
Other - Commercial [Member] | Fresenius - Duluth, MN [Member] | Maximum [Member]
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate, Gross [Abstract]
Life on which depreciation in latest income statement is computed	37 years
Other - Commercial [Member] | Minot 1400 31st Ave - Minot, ND [Member]
Real Estate And Accumulated Depreciation [Abstract]
Encumbrances				0
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate and Accumulated Depreciation, Initial Cost [Abstract]
Land				1,026
Buildings & Improvements				6,143
Costs capitalized subsequent to acquisition				4,422
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate, Gross [Abstract]
Land				1,038
Buildings & Improvements				10,553
Total	$ 11,591			11,591
Accumulated Depreciation	(5,334)			(5,334)
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate [Roll Forward]
Balance at close of year	11,591
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate, Accumulated Depreciation [Roll Forward]
Balance at beginning of year	5,334			5,334
Deductions during year [Abstract]
Balance at close of year	$ 5,334
Other - Commercial [Member] | Minot 1400 31st Ave - Minot, ND [Member] | Minimum [Member]
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate, Gross [Abstract]
Life on which depreciation in latest income statement is computed	30 years
Other - Commercial [Member] | Minot 1400 31st Ave - Minot, ND [Member] | Maximum [Member]
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate, Gross [Abstract]
Life on which depreciation in latest income statement is computed	37 years
Other - Commercial [Member] | Minot 2505 16th Street SW - Minot, ND [Member]
Real Estate And Accumulated Depreciation [Abstract]
Encumbrances				0
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate and Accumulated Depreciation, Initial Cost [Abstract]
Land				298
Buildings & Improvements				1,724
Costs capitalized subsequent to acquisition				296
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate, Gross [Abstract]
Land				298
Buildings & Improvements				2,020
Total	$ 2,318			2,318
Accumulated Depreciation	(544)			(544)
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate [Roll Forward]
Balance at close of year	2,318
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate, Accumulated Depreciation [Roll Forward]
Balance at beginning of year	544			544
Deductions during year [Abstract]
Balance at close of year	$ 544
Other - Commercial [Member] | Minot 2505 16th Street SW - Minot, ND [Member] | Minimum [Member]
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate, Gross [Abstract]
Life on which depreciation in latest income statement is computed	30 years
Other - Commercial [Member] | Minot 2505 16th Street SW - Minot, ND [Member] | Maximum [Member]
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate, Gross [Abstract]
Life on which depreciation in latest income statement is computed	37 years
Other - Commercial [Member] | Minot Arrowhead - Minot, ND [Member]
Real Estate And Accumulated Depreciation [Abstract]
Encumbrances				0
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate and Accumulated Depreciation, Initial Cost [Abstract]
Land				100
Buildings & Improvements				3,216
Costs capitalized subsequent to acquisition				5,586
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate, Gross [Abstract]
Land				176
Buildings & Improvements				8,726
Total	$ 8,902			8,902
Accumulated Depreciation	(3,191)			(3,191)
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate [Roll Forward]
Balance at close of year	8,902
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate, Accumulated Depreciation [Roll Forward]
Balance at beginning of year	3,191			3,191
Deductions during year [Abstract]
Balance at close of year	$ 3,191
Other - Commercial [Member] | Minot Arrowhead - Minot, ND [Member] | Minimum [Member]
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate, Gross [Abstract]
Life on which depreciation in latest income statement is computed	30 years
Other - Commercial [Member] | Minot Arrowhead - Minot, ND [Member] | Maximum [Member]
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate, Gross [Abstract]
Life on which depreciation in latest income statement is computed	37 years
Other - Commercial [Member] | Minot IPS - Minot, ND [Member]
Real Estate And Accumulated Depreciation [Abstract]
Encumbrances				0
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate and Accumulated Depreciation, Initial Cost [Abstract]
Land				416
Buildings & Improvements				5,952
Costs capitalized subsequent to acquisition				0
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate, Gross [Abstract]
Land				416
Buildings & Improvements				5,952
Total	$ 6,368			6,368
Accumulated Depreciation	(3,012)			(3,012)
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate [Roll Forward]
Balance at close of year	6,368
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate, Accumulated Depreciation [Roll Forward]
Balance at beginning of year	3,012			3,012
Deductions during year [Abstract]
Balance at close of year	$ 3,012
Other - Commercial [Member] | Minot IPS - Minot, ND [Member] | Minimum [Member]
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate, Gross [Abstract]
Life on which depreciation in latest income statement is computed	30 years
Other - Commercial [Member] | Minot IPS - Minot, ND [Member] | Maximum [Member]
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate, Gross [Abstract]
Life on which depreciation in latest income statement is computed	37 years
Other - Commercial [Member] | Minot Southgate Retail - Minot, ND [Member]
Real Estate And Accumulated Depreciation [Abstract]
Encumbrances				0
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate and Accumulated Depreciation, Initial Cost [Abstract]
Land				889
Buildings & Improvements				1,036
Costs capitalized subsequent to acquisition				0
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate, Gross [Abstract]
Land				889
Buildings & Improvements				1,036
Total	$ 1,925			1,925
Accumulated Depreciation	0			0
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate [Roll Forward]
Balance at close of year	1,925
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate, Accumulated Depreciation [Roll Forward]
Balance at beginning of year	0			0
Deductions during year [Abstract]
Balance at close of year	$ 0
Other - Commercial [Member] | Minot Southgate Retail - Minot, ND [Member] | Minimum [Member]
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate, Gross [Abstract]
Life on which depreciation in latest income statement is computed	30 years
Other - Commercial [Member] | Minot Southgate Retail - Minot, ND [Member] | Maximum [Member]
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate, Gross [Abstract]
Life on which depreciation in latest income statement is computed	37 years
Other - Commercial [Member] | Woodbury 1865 Woodlane - Woodbury, MN [Member]
Real Estate And Accumulated Depreciation [Abstract]
Encumbrances				0
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate and Accumulated Depreciation, Initial Cost [Abstract]
Land				1,108
Buildings & Improvements				2,292
Costs capitalized subsequent to acquisition				0
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate, Gross [Abstract]
Land				1,108
Buildings & Improvements				2,292
Total	$ 3,400			3,400
Accumulated Depreciation	0			0
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate [Roll Forward]
Balance at close of year	3,400
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate, Accumulated Depreciation [Roll Forward]
Balance at beginning of year	0			0
Deductions during year [Abstract]
Balance at close of year	$ 0
Other - Commercial [Member] | Woodbury 1865 Woodlane - Woodbury, MN [Member] | Minimum [Member]
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate, Gross [Abstract]
Life on which depreciation in latest income statement is computed	30 years
Other - Commercial [Member] | Woodbury 1865 Woodlane - Woodbury, MN [Member] | Maximum [Member]
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate, Gross [Abstract]
Life on which depreciation in latest income statement is computed	37 years
Subtotal [Member]
Real Estate And Accumulated Depreciation [Abstract]
Encumbrances				512,140
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate and Accumulated Depreciation, Initial Cost [Abstract]
Land				142,407
Buildings & Improvements				1,330,889
Costs capitalized subsequent to acquisition				196,468
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate, Gross [Abstract]
Land				163,962
Buildings & Improvements				1,505,802
Total	$ 1,669,764			1,669,764
Accumulated Depreciation	(311,324)			(311,324)
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate [Roll Forward]
Balance at close of year	1,669,764
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate, Accumulated Depreciation [Roll Forward]
Balance at beginning of year	311,324			$ 311,324
Deductions during year [Abstract]
Balance at close of year	$ 311,324