Centerspace (CSR) 10-KT 27 Feb 19 2018 FY Annual report (with FYE transition) Financial data

Document and Entity Information

Document and Entity Information - USD ($)	8 Months Ended
	Dec. 31, 2018	Feb. 20, 2019	Oct. 31, 2018
Document and Entity Information [Abstract]
Entity Registrant Name	INVESTORS REAL ESTATE TRUST
Entity Central Index Key	798,359
Current Fiscal Year End Date	--12-31
Entity Well-known Seasoned Issuer	Yes
Entity Voluntary Filers	No
Entity Current Reporting Status	Yes
Entity Filer Category	Large Accelerated Filer
Entity Small Business	false
Entity Emerging Growth Company	false
Entity Shell Company	false
Entity Public Float			$ 645,456,465
Entity Common Stock, Shares Outstanding		11,768,248
Document Fiscal Year Focus	2,018
Document Fiscal Period Focus	FY
Document Type	10-KT
Amendment Flag	false
Document Period End Date	Dec. 31, 2018

CONSOLIDATED BALANCE SHEETS

CONSOLIDATED BALANCE SHEETS - USD ($) $ in Thousands	Dec. 31, 2018	Apr. 30, 2018	Apr. 30, 2017
Real estate investments
Property owned	$ 1,627,636	$ 1,669,764	$ 1,358,529
Less accumulated depreciation	(353,871)	(311,324)	(255,599)
Total property owned	1,273,765	1,358,440	1,102,930
Unimproved land	5,301	11,476	18,455
Mortgage loans receivable	10,410	10,329	0
Total real estate investments	1,289,476	1,380,245	1,121,385
Assets held for sale and assets of discontinued operations	0	0	283,023
Cash and cash equivalents	13,792	11,891	28,819
Restricted cash	5,464	4,225	27,981
Other assets	27,265	30,297	13,306
TOTAL ASSETS	1,335,997	1,426,658	1,474,514
LIABILITIES
Liabilities held for sale and liabilities of discontinued operations	0	0	130,904
Accounts payable and accrued expenses	40,892	29,018	35,566
Revolving line of credit	57,500	124,000	57,050
Term loans, net of unamortized loan costs of $1,009, $486 and $0, respectively	143,991	69,514	0
Mortgages payable, net of unamortized loan costs of $1,777, $2,221 and $3,054, respectively	444,197	509,919	565,978
Construction debt	0	0	41,741
TOTAL LIABILITIES	686,580	732,451	831,239
COMMITMENTS AND CONTINGENCIES (NOTE 13)
REDEEMABLE NONCONTROLLING INTERESTS – CONSOLIDATED REAL ESTATE ENTITIES	5,968	6,644	7,117
Investors Real Estate Trust shareholders’ equity
Common Shares of Beneficial Interest (Unlimited authorization, no par value, 11,942,372 shares issued and outstanding at December 31, 2018, 11,952,598 shares issued and outstanding at April 30, 2018 and 12,119,930 shares issued and outstanding at April 30, 2017)	899,234	900,097	908,905
Accumulated distributions in excess of net income	(429,048)	(395,669)	(466,541)
Accumulated other comprehensive income	(856)	1,779	0
Total Investors Real Estate Trust shareholders’ equity	568,786	605,663	553,721
Noncontrolling interests – consolidated real estate entities	67,916	73,012	73,233
Noncontrolling interests – consolidated real estate entities	6,747	8,888	9,204
Total equity	643,449	687,563	636,158
TOTAL LIABILITIES, REDEEMABLE NONCONTROLLING INTERESTS AND EQUITY	1,335,997	1,426,658	1,474,514
Series B Preferred Stock
Investors Real Estate Trust shareholders’ equity
Preferred Shares of Beneficial Interest (Cumulative redeemable preferred shares)	0	0	111,357
Series C Preferred Stock
Investors Real Estate Trust shareholders’ equity
Preferred Shares of Beneficial Interest (Cumulative redeemable preferred shares)	$ 99,456	$ 99,456	$ 0

CONSOLIDATED BALANCE SHEETS (Pa

CONSOLIDATED BALANCE SHEETS (Parenthetical) - USD ($)	Dec. 31, 2018	Apr. 30, 2018	Apr. 30, 2017
EQUITY
Common Shares of Beneficial Interest, shares issued (in shares)	11,942,372	11,952,598	12,119,930
Common Shares of Beneficial Interest, shares outstanding (in shares)	11,942,372	11,952,598	12,119,930
Noncontrolling interests - Operating Partnership (in shares)	1,367,502	1,409,943	1,561,722
Series B Preferred Stock
EQUITY
Preferred Shares of Beneficial Interest, shares issued (in shares)	0	0	4,600,000
Preferred Shares of Beneficial Interest, shares outstanding (in shares)	0	0	4,600,000
Preferred shares liquidation preference			$ 115,000,000
Series C Preferred Stock
EQUITY
Preferred Shares of Beneficial Interest, shares issued (in shares)	4,118,460	4,118,460	0
Preferred Shares of Beneficial Interest, shares outstanding (in shares)	4,118,460	4,118,460	0
Preferred shares liquidation preference			$ 102,971,475
Medium-term Notes
LIABILITIES
Mortgages payable, loan costs	$ 1,009,000	$ 486,000	0
Mortgages
LIABILITIES
Mortgages payable, loan costs	$ 1,777,000	$ 2,221,000	$ 3,054,000

CONSOLIDATED STATEMENTS OF OPER

CONSOLIDATED STATEMENTS OF OPERATIONS - USD ($) $ in Thousands	8 Months Ended		12 Months Ended
	Dec. 31, 2018	Dec. 31, 2017	Apr. 30, 2018	Apr. 30, 2017	Apr. 30, 2016
Revenues	$ 121,871	$ 111,249	$ 169,745	$ 160,104	$ 145,500
EXPENSES
Property operating expenses, excluding real estate taxes	37,198	35,581	54,292	47,587	43,741
Real estate taxes	13,521	12,234	18,742	16,739	14,407
Casualty (gain) loss	915	600	500	414	238
Depreciation and amortization	50,456	54,902	82,070	44,253	39,273
Impairment of real estate investments	1,221	256	18,065	57,028	5,543
General and administrative expenses	9,812	9,041	14,203	15,871	13,498
Acquisition and investment related costs	0	0	51	3,276	830
TOTAL EXPENSES	116,786	116,266	193,449	190,214	121,244
Operating income (loss)	5,085	(5,017)	(23,704)	(30,110)	24,256
Interest expense	(21,359)	(22,804)	(34,178)	(34,314)	(28,417)
Loss on extinguishment of debt	(556)	(818)	(940)	(1,651)	(106)
Interest income	1,168	432	1,197	366	78
Other income	65	282	311	780	307
Income (loss) before gain (loss) on sale of real estate and other investments, gain on bargain purchase and income (loss) from discontinued operations	(15,597)	(27,925)	(57,314)	(64,929)	(3,882)
Gain (loss) on sale of real estate and other investments	9,707	17,816	20,120	18,701	9,640
Gain on bargain purchase	0	0	0	0	3,424
Income (loss) from continuing operations	(5,890)	(10,109)	(37,194)	(46,228)	9,182
Income (loss) from discontinued operations	570	150,703	164,823	76,753	67,420
NET INCOME (LOSS)	(5,320)	140,594	127,629	30,525	76,602
Net (income) loss attributable to noncontrolling interests – Operating Partnership	1,032	(14,222)	(12,702)	(4,059)	(7,032)
Net (income) loss attributable to noncontrolling interests – consolidated real estate entities	(110)	1,042	1,861	16,881	2,436
Net income (loss) attributable to controlling interests	(4,398)	127,414	116,788	43,347	72,006
Dividends to preferred shareholders	(4,547)	(6,296)	(8,569)	(10,546)	(11,514)
Redemption of preferred shares	0	(3,657)	(3,657)	(1,435)	0
NET INCOME (LOSS) AVAILABLE TO COMMON SHAREHOLDERS	$ (8,945)	$ 117,461	$ 104,562	$ 31,366	$ 60,492
Earnings (loss) per common share from continuing operations – basic and diluted (in dollars per share)	$ (0.79)	$ (1.41)	$ (3.54)	$ (3.01)	$ 0
Earnings (loss) per common share from discontinued operations – basic and diluted (in dollars per share)	0.04	11.19	12.25	5.59	4.91
NET EARNINGS (LOSS) PER COMMON SHARE – BASIC & DILUTED (in dollars per share)	$ (0.75)	$ 9.78	$ 8.71	$ 2.58	$ 4.91
Management Service
EXPENSES
Property management expense	$ 3,663	$ 3,652	$ 5,526	$ 5,046	$ 3,714

CONSOLIDATED STATEMENTS OF COMP

CONSOLIDATED STATEMENTS OF COMPREHENSIVE INCOME - USD ($) $ in Thousands	8 Months Ended	12 Months Ended
	Dec. 31, 2018	Apr. 30, 2018	Apr. 30, 2017	Apr. 30, 2016
Statement of Comprehensive Income [Abstract]
Net income (loss)	$ (5,320)	$ 127,629	$ 30,525	$ 76,602
Other comprehensive income:
Unrealized gain (loss) from derivative instrument	(2,794)	1,627	0	0
(Gain) loss on derivative instrument reclassified into earnings	159	152	0	0
Total comprehensive income (loss)	(7,955)	129,408	30,525	76,602
Comprehensive (income) loss attributable to noncontrolling interests – Operating Partnership	1,032	(12,888)	(4,059)	(7,032)
Net comprehensive (income) loss attributable to noncontrolling interests – consolidated real estate entities	(110)	1,861	16,881	2,436
Comprehensive income (loss) attributable to controlling interests	$ (7,033)	$ 118,381	$ 43,347	$ 72,006

CONSOLIDATED STATEMENTS OF EQUI

CONSOLIDATED STATEMENTS OF EQUITY - USD ($) shares in Thousands, $ in Thousands	Total	Preferred Shares	Common Stock	Accumulated Distributions In Excess of Net Income	Accumulated Other Comprehensive Income	Noncontrolling Interest	Series A Preferred Stock	Series A Preferred StockAccumulated Distributions In Excess of Net Income	Series B Preferred Stock	Series B Preferred StockAccumulated Distributions In Excess of Net Income	Series C Preferred Stock	Series C Preferred StockPreferred Shares	Series C Preferred StockAccumulated Distributions In Excess of Net Income
Balance at Apr. 30, 2015	$ 740,954	$ 138,674	$ 951,868	$ (438,432)	$ 0	$ 88,844
Balance (in shares) at Apr. 30, 2015			12,446
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Net income (loss) attributable to controlling interest 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 (in shares)			82
Distribution reinvestment and share purchase plan	5,619		$ 5,619
Shares issued and share-based compensation (in shares)			19
Shares issued and share-based compensation	1,728		$ 1,728
Partnership units issued	18,226					18,226
Redemption of units for common shares (in shares)			27
Redemption of Units for common shares	0		$ 1,477			(1,477)
Shares repurchased (in shares)			(464)
Shares repurchased	(35,000)		$ (35,000)
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)	0	99,504
Balance (in shares) at Apr. 30, 2016			12,110
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Net income (loss) attributable to controlling interest 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 (in shares)			39
Shares issued and share-based compensation	358		$ 358
Redemption of units for common shares (in shares)			50
Redemption of Units for common shares	0		$ 875			(875)
Redemption of units for cash	(966)					(966)
Shares repurchased (in shares)			(79)
Shares repurchased	(33,253)	(27,317)	$ (4,501)	(1,435)
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	(4,874)		$ (9,893)			5,019
Other (in shares)			0
Other	(232)		$ (18)			(214)
Balance at Apr. 30, 2017	636,158	111,357	$ 908,905	(466,541)	0	82,437
Balance (in shares) at Apr. 30, 2017			12,120
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Net income (loss) attributable to controlling interest 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 (in shares)			10
Shares issued and share-based compensation	1,663		$ 1,663
Issuance of Series C preferred shares											99,456	$ 99,456
Redemption of units for common shares (in shares)			3
Redemption of Units for common shares	0		$ 34			(34)
Redemption of units for cash	(8,775)					(8,775)
Shares repurchased (in shares)			(178)
Shares repurchased	(124,949)	(111,357)	$ (9,935)	(3,657)
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 (in shares)			(2)
Other	(157)		$ (570)			413
Balance at Apr. 30, 2018	687,563	99,456	$ 900,097	(395,669)	1,779	81,900
Balance (in shares) at Apr. 30, 2018			11,953
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Net income (loss) attributable to controlling interest and noncontrolling interests	(4,878)			(4,398)		(480)
Other comprehensive income - derivative instrument	(2,635)				(2,635)
Distributions – common shares and Units	(27,977)			(25,060)		(2,917)
Distributions - preferred shares	(4,547)										$ (4,548)		$ (4,548)
Shares issued and share-based compensation (in shares)			3
Shares issued and share-based compensation	1,042		$ 1,042
Redemption of units for common shares (in shares)			33
Redemption of Units for common shares	0		$ 649			(649)
Redemption of units for cash	(498)					(498)
Shares repurchased (in shares)			(42)
Shares repurchased	(2,172)		$ (2,172)
Distributions to nonredeemable noncontrolling interests – consolidated real estate entities	(2,432)					(2,432)
Conversion to equity of notes receivable from nonredeemable noncontrolling interests – consolidated real estate entities	(392)					(392)
Acquisition of nonredeemable noncontrolling interests – consolidated real estate entities	(44)		$ (175)			131
Other (in shares)			(5)
Other	(207)		$ (207)
Balance at Dec. 31, 2018	$ 643,449	$ 99,456	$ 899,234	$ (429,048)	$ (856)	$ 74,663
Balance (in shares) at Dec. 31, 2018			11,942

CONSOLIDATED STATEMENTS OF CASH

CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($) $ in Thousands	8 Months Ended	12 Months Ended
	Dec. 31, 2018	Apr. 30, 2018	Apr. 30, 2017	Apr. 30, 2016
CASH FLOWS FROM OPERATING ACTIVITIES
Net income (loss)	$ (5,320)	$ 127,629	$ 30,525	$ 76,602
Adjustments to reconcile net income (loss) to net cash provided by operating activities:
Depreciation and amortization	51,394	83,276	46,135	41,098
Depreciation and amortization from discontinued operations	0	8,526	10,477	24,357
(Gain) loss on sale of real estate, land, other investments and discontinued operations	(10,277)	(183,687)	(74,847)	(33,423)
(Gain) loss on extinguishment of debt and discontinued operations	482	6,839	3,848	(30,135)
Gain on bargain purchase	0	0	0	(3,424)
Share-based compensation expense	845	1,587	6	2,256
Impairment of real estate investments	1,221	18,065	57,028	5,983
Other, net	629	1,457	499	651
Write off of development pursuit costs	0	0	3,161	0
Changes in other assets and liabilities:
Other assets	(1,145)	(646)	(214)	2,588
Accounts payable and accrued expenses	2,205	(7,851)	2,434	(14,292)
Net cash provided (used) by operating activities	40,034	55,195	79,052	72,261
CASH FLOWS FROM INVESTING ACTIVITIES
Principal proceeds on mortgage loan receivable	545	0	0	0
Increase in loans receivable	(918)	(15,480)	0	0
Decrease in other investments	0	0	50	279
Proceeds from sale of discontinued operations	0	426,131	237,135	365,845
Proceeds from sale of real estate and other investments	62,695	64,639	47,354	40,306
Insurance proceeds received	1,344	584	88	1,320
Payments for acquisitions of real estate assets	(977)	(374,081)	0	(121,821)
Payments for development of real estate assets	0	(2,655)	(18,274)	(122,801)
Payments for improvements of real estate assets	(11,518)	(17,980)	(41,083)	(26,904)
Payments for improvements of real estate assets from discontinued operations	0	(1,046)	(1,110)	(7,672)
Net cash provided (used) by investing activities	51,171	80,112	224,160	128,552
CASH FLOWS FROM FINANCING ACTIVITIES
Proceeds from mortgages payable	0	0	84,150	143,574
Principal payments on mortgages payable	(67,016)	(205,159)	(298,984)	(241,206)
Proceeds from revolving lines of credit	53,017	370,350	246,000	82,000
Principal payments on revolving lines of credit	(119,517)	(303,400)	(206,450)	(125,000)
Proceeds from notes payable and other debt	0	3,252	19,341	94,142
Principal payments on notes payable and other debt	0	(21,689)	(49,080)	(24,754)
Payoff of financing liability	0	(7,900)	0	0
Proceeds from term loan	74,352	69,462	0	0
Proceeds from sale of common shares under distribution reinvestment and share purchase program	0	0	0	1,493
Additions to notes receivable from noncontrolling partner – consolidated real estate entities	0	0	(9,211)	0
Proceeds from noncontrolling partner – consolidated real estate entities	0	0	9,749	1,120
Payments for acquisition of noncontrolling interests – consolidated real estate entities	0	0	(4,938)	0
Proceeds from sale of preferred shares	0	99,467	0	0
Repurchase of common shares	(2,172)	(9,935)	(4,501)	(35,000)
Repurchase of preferred shares	0	(115,017)	(28,752)	0
Repurchase of partnership units	(498)	(8,775)	(966)	0
Distributions paid to common shareholders	(16,724)	(33,689)	(55,907)	(60,063)
Distributions paid to preferred shareholders	(5,116)	(8,763)	(10,744)	(11,514)
Distributions paid to noncontrolling interests – Unitholders of the Operating Partnership	(1,959)	(4,096)	(7,453)	(7,101)
Distributions paid to noncontrolling interests – consolidated real estate entities	(2,432)	(99)	(174)	(7,029)
Net cash provided (used) by financing activities	(88,065)	(175,991)	(317,920)	(189,338)
NET INCREASE (DECREASE) IN CASH, CASH EQUIVALENTS, AND RESTRICTED CASH	3,140	(40,684)	(14,708)	11,475
CASH, CASH EQUIVALENTS, AND RESTRICTED CASH AT BEGINNING OF YEAR	16,116	56,800	71,508	60,033
CASH, CASH EQUIVALENTS, AND RESTRICTED CASH AT END OF YEAR	19,256	16,116	56,800	71,508
SUPPLEMENTARY SCHEDULE OF NON-CASH INVESTING AND FINANCING ACTIVITIES
Distribution reinvestment plan – shares issued	0	0	0	3,997
Operating partnership distribution reinvestment plan – shares issued	0	0	0	130
Operating partnership units converted to shares	649	34	875	1,477
Real estate assets acquired through the issuance of operating partnership units	0	0	0	18,226
(Decrease) increase to accounts payable included within real estate investments	(329)	(3,415)	(1,851)	(10,420)
Conversion to equity of notes receivable from noncontrolling interests – consolidated real estate entities	670	0	9,846	0
Construction debt reclassified to mortgages payable	0	23,300	10,549	123,553
Increase in mortgage notes receivable	0	10,329	0	0
Decrease in real estate assets in connection with transfer of real estate assets in settlement of debt	0	0	0	87,213
Decrease in debt in connection with transfer of real estate assets in settlement of debt	0	0	0	122,610
SUPPLEMENTAL DISCLOSURE OF CASH FLOW INFORMATION
Cash paid for interest, net of amounts capitalized of $0, $0, $431 and $4,396, respectively	$ 24,135	$ 35,758	$ 34,432	$ 39,668

CONSOLIDATED STATEMENTS OF CA_2

CONSOLIDATED STATEMENTS OF CASH FLOWS (Parenthetical) - USD ($) $ in Thousands	8 Months Ended	12 Months Ended
	Dec. 31, 2018	Apr. 30, 2018	Apr. 30, 2017	Apr. 30, 2016
CASH FLOWS FROM FINANCING ACTIVITIES
Interest capitalized	$ 0	$ 0	$ 431	$ 4,396

ORGANIZATION

ORGANIZATION	8 Months Ended
	Dec. 31, 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 December 31, 2018 , we held for investment 87 apartment communities with 13,702 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	8 Months Ended
	Dec. 31, 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 previously ended April 30th. On September 20, 2018, our Board of Trustees approved a change in our fiscal year-end from April 30 to December 31, effective as of January 1, 2019. This transition report on Form 10-KT is for the eight-month period ended December 31, 2018, in accordance with SEC rules and regulations, and all subsequent fiscal years, beginning in 2019, will be from January 1 to December 31. Our interest in the Operating Partnership was 89.7% , 89.4% , and 88.6% , respectively, of the limited partnership units of the Operating Partnership (“Units”) as of December 31, 2018, April 30, 2018 and April 30, 2017 , which includes 100% of the general partnership interest. On December 14, 2018, the Board approved a reverse stock split of our outstanding common shares and Units, no par value per share, at a ratio of 1-for-10. The reverse stock split was effective as of the close of trading on December 27, 2018, with trading commencing on a split-adjusted basis on December 28, 2018. The number of common shares and Units was reduced from 119.4 million to 11.9 million and 13.7 million to 1.4 million , respectively. We have retroactively restated all shares and Units and per share and Unit data for all periods presented. 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. PRIOR PERIOD FINANCIAL STATEMENT CORRECTION OF AN IMMATERIAL MISSTATEMENT In the first quarter of the transition period ended December 31, 2018, we identified certain adjustments required to correct balances within total equity related to noncontrolling interests in our joint venture entities. Related to our acquisition of additional ownership interest in the joint venture entities, noncontrolling interest - consolidated real estate entities was understated and common shares of beneficial interest was overstated beginning in fiscal year 2017. The adjustments did not impact total assets, total liabilities, revenue, net income, net income available to common shareholders, number of common shares, or earnings per share. Based on an analysis of Accounting Standards Codification (“ASC”) 250 - “Accounting Changes and Error Corrections” (“ASC 250”), Staff Accounting Bulletin 99 - “Materiality” (“SAB 99”) and Staff Accounting Bulletin 108 - "Considering the Effects of Prior Year Misstatements when Quantifying Misstatements in Current Year Financial Statements" (“SAB 108”), we determined that these errors were immaterial to the previously-issued financial statements. The misstatement was corrected in the consolidated balance sheets as of April 30, 2017 and April 30, 2018 and the consolidated statements of equity as of April 30, 2018 and April 30, 2017. The effect of these revisions on our condensed consolidated balance sheet is as follows: (in thousands) As previously reported at April 30, 2017 Adjustment As revised at April 30, 2017 Common shares of beneficial interest $ 916,121 $ (7,216 ) $ 908,905 Noncontrolling interests - consolidated real estate entities 1,924 7,280 9,204 Redeemable noncontrolling interests - consolidated real estate entities 7,181 (64 ) 7,117 (in thousands) As previously reported at April 30, 2018 Adjustment As revised at April 30, 2018 Common shares of beneficial interest $ 907,843 $ (7,746 ) $ 900,097 Noncontrolling interests - consolidated real estate entities 1,078 7,810 8,888 Redeemable noncontrolling interests - consolidated real estate entities 6,708 (64 ) 6,644 The effect of these revisions on our condensed consolidated statements of equity is as follows: (in thousands) As previously reported at April 30, 2017 Adjustment As revised at April 30, 2017 Common shares of beneficial interest $ 916,121 $ (7,216 ) $ 908,905 Nonredeemable noncontrolling interests 75,157 7,280 82,437 (in thousands) As previously reported at April 30, 2018 Adjustment As revised at April 30, 2018 Common shares of beneficial interest $ 907,843 $ (7,746 ) $ 900,097 Nonredeemable noncontrolling interests 74,090 7,810 81,900 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 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 adopted 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, which were evaluated under this ASU, include but are not limited to other income from residents determined not to be within the scope of ASC 840 and gains and losses from real estate dispositions. Refer to the Revenues section below for information regarding the impact of adopting the standard 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. Our residential leases, where we are the lessor, will continue to be accounted for as operating leases under the new standard. As a result, there is not a significant change in the accounting for lease revenue. For leases where we are the lessee, we will recognize a right of use asset and related lease liability on our consolidated balance sheets upon adoption. The adoption of this standard will not have a material impact on our consolidated financial statements. 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. We adopted the new standard effective May 1, 2018. The standard requires we present combined inflows and outflows of cash, cash equivalents, and restricted cash in the consolidated statement of cash flows. See additional disclosures regarding the required change below. ASU 2016-18, Statement of Cash Flows (Topic 230): Restricted Cash This ASU requires the statement of cash flows to explain the change in total cash, cash equivalents, and amounts generally described as restricted cash. It also requires that restricted cash be included when reconciling the beginning and end of period amounts on the statement of cash flows. This ASU is effective for fiscal years beginning after December 15, 2017, and interim periods within those fiscal years. We adopted the new standard effective May 1, 2018. The standard requires we present combined inflows and outflows of cash, cash equivalents, and restricted cash in the consolidated statement of cash flows. See additional disclosures regarding the required change below. 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. We adopted the new standard effective May 1, 2018 using the modified retrospective approach. Refer to the Revenues section below for information regarding the impact of adopting the standard on our condensed consolidated financial statements. ASU 2018-10, Codification Improvements to Topic 842, Leases This ASU was issued to increase shareholders' awareness of narrow aspects of the guidance issued in the amendments and to expedite the improvements under ASU 2016-02. This ASU is effective for annual reporting periods beginning after December 15, 2018. Early adoption is permitted. The adoption of this standard will not have a material impact on our consolidated financial statements. Standard Description Date of Adoption Effect on the Financial Statements or Other Significant Matters ASU 2018-11, Leases: Targeted Improvements This ASU allows lessors to account for lease and non-lease components, by class of underlying assets, as a single lease component if certain criteria are met. The new standard also indicates that companies are permitted to recognize a cumulative-effect adjustment to the opening balance of retained earnings in the period of adoption in lieu of the modified retrospective approach and provides other practical expedients. This ASU is effective for annual reporting periods beginning after December 15, 2018. Early adoption is permitted. The adoption of this standard will not have a material impact on our consolidated financial statements. ASU 2018-13, Fair Value Measurements (Topic 820) - Disclosure Framework - Changes to the Disclosure Requirement for Fair Value Measurements This ASU eliminates certain disclosure requirements affecting all levels of measurement, and modifies and adds new disclosure requirements for Level 3 measurements. This ASU is effective for annual reporting periods beginning after December 15, 2019. Early adoption is permitted. We are currently evaluating the impact the new standard may have on our disclosures. ASU 2018-15, Intangibles - Goodwill and Other - Internal-Use Software (Topic 350-40): Customer's Accounting for Implementation Costs Incurred in a Cloud Computing Arrangement That is a Service Contract This ASU reduces the complexity for the accounting for costs of implementing a cloud computing service arrangement. The standard aligns various requirements for capitalizing implementation costs. This ASU is effective for annual reporting periods beginning after December 15, 2019. Early adoption is permitted. We are currently evaluating the impact the new standard may have on our consolidated financial statements. ASU 2018-20, Leases (Topic 842) - Narrow-Scope Improvements for Lessors This ASU reduces a lessor's implementation and ongoing costs associated with applying the new leases standard. The ASU also clarifies a specific lessor accounting requirements. This ASU is effective for annual reporting periods beginning after December 15, 2018. Early adoption is permitted. The adoption of this standard will not have a material impact on our consolidated financial statements. 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. 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 $1.3 billion , $1.4 billion , and $1.1 billion as of December 31, 2018 , April 30, 2018 , and April 30, 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 comparable transactions. 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. 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. We did not capitalize interest during the transition period ended December 31, 2018 . 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 control of the assets transfers to the buyer 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 physical 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 the transition period ended December 31, 2018 , we incurred a loss of $1.2 million due to impairment of a parcel of land in Bismarck, North Dakota. The parcel was written-down to estimated fair value based on receipt of a market offer to purchase and our intent to dispose of the property. 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 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 . 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 December 31, 2018 and 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 these standards, 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. CASH, CASH EQUIVALENTS, AND RESTRICTED CASH Effective May 1, 2018, we adopted ASU 2016-15, Classification of Certain Cash Receipts and Cash Payments and ASU 2016-18, Statement of Cash Flows (Topic 230): Restricted Cash, which affects the presentation and disclosure of the statements of cash flows. Previously our consolidated statements of cash flows presented transfers between restricted cash and unrestricted cash as operating, financing, and investing cash activities based upon the required or intended purpose for the restricted cash. We revised our consolidated statements of cash flows for the years ended April 30, 2018 , 2017, and 2016 to conform to this presentation, and the effect of the revisions to net cash flows from operating and investing activities as previously reported for the years ended April 30, 2018, 2017, and 2016 are summarized in the following table: (in thousands) As previously reported Impact of ASUs As adjusted and currently reported April 30, 2018 2016-15 and 2016-18 April 30, 2018 Net cash provided by operating activities $ 48,035 $ 7,160 $ 55,195 Net cash provided by (used by) investing activities 104,189 (24,077 ) 80,112 Net cash provided by (used by) financing activities (169,152 ) (6,839 ) (175,991 ) Net increase (decrease) in cash, cash equivalents (16,928 ) 16,928 — Net increase (decrease) in cash, cash equivalents, and restricted cash — (40,684 ) (40,684 ) Cash and cash equivalents at beginning of period 28,819 (28,819 ) — Cash, cash equivalents, and restricted cash at beginning of period — 56,800 56,800 Cash and cash equivalents at end of period $ 11,891 Cash, cash equivalents, and restricted cash at end of period $ 4,225 $ 16,116 (in thousands) As previously reported Impact of ASUs As adjusted and currently reported April 30, 2017 2016-15 and 2016-18 April 30, 2017 Net cash provided by operating activities $ 73,930 $ 5,122 $ 79,052 Net cash provided by (used by) investing activities 202,263 21,897 224,160 Net cash provided by (used by) financing activities (314,072 ) (3,848 ) (317,920 ) Net increase (decrease) in cash, cash equivalents (37,879 ) 37,879 — Net increase (decrease) in cash, cash equivalents, and restricted cash — (14,708 ) (14,708 ) Cash and cash equivalents at beginning of period 66,698 (66,698 ) — Cash, cash equivalents, and restricted cash at beginning of period — 71,508 71,508 Cash and cash equivalents at end of period $ 28,819 Cash, cash equivalents, and restricted cash at end of period $ 27,981 $ 56,800 (in thousands) As previously reported Impact of ASUs As adjusted and currently reported April 30, 2016 2016-15 and 2016-18 April 30, 2016 Net cash provided by operating activities $ 66,493 $ 5,768 $ 72,261 Net cash provided by (used by) investing activities 134,252 (5,700 ) 128,552 Net cash provided by (used by) financing activities (183,017 ) (6,321 ) (189,338 ) Net increase (decrease) in cash, cash equivalents 17,728 (17,728 ) — Net increase (decrease) in cash, cash equivalents, and restricted cash — 11,475 11,475 Cash and cash equivalents at beginning of period 48,970 (48,970 ) — Cash, cash equivalents, and restricted cash at beginning of period — 60,033 60,033 Cash and cash equivalents at end of period $ 66,698 Cash, cash equivalents, and restricted cash at end of period $ 4,810 $ 71,508 (in thousands) Balance sheet description December 31, 2018 April 30, 2018 April 30, 2017 Cash and cash equivalents $ 13,792 $ 11,891 $ 28,819 Restricted cash 5,464 4,225 27,981 Total cash, cash equivalents and restricted cash $ 19,256 $ 16,116 $ 56,800 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. As of December 31, 2018 , April 30, 2018 , and April 30, 2017 , restricted cash consisted of $5.5 million , $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. REVENUE We adopted ASU 2014-09, Revenue from Contracts with Customers, as of May 1, 2018, using the modified retrospective approach. We elected to apply the new standard to contracts that are not complete as of May 1, 2018. We also elected to omit disclosing the value of unsatisfied performance obligations for contracts with an original expected length of one year or less. Under the new standard, revenue is recognized in accordance with the transfer of goods and services to customers at an amount that reflects the consideration the company expects to be entitled for those goods and services. We primarily lease multifamily apartments under operating leases generally with terms of one year or less . Rental revenues are recognized in accordance with ASC 840, Leases, using a method that represents a straight-line basis over the term of the lease. Rental income represents approximately 96.5% of our total revenues and includes gross market rent less adjustments for concessions, vacancy loss, and bad debt. Other property revenues represent the remaining 3.5% of our total revenue and are primarily driven by utility reimbursement from our residents and other fee income, which is typically recognized at a point in time. Revenue streams that are included in ASU 2014-09 include: • Other property revenues: We recognize revenue for rental related income not included as a component of a lease, such as other transactional fees, when the services are transferred to our customers for an amount which reflects the consideration we expect to receive in exchange for those services. These fees are charged to residents monthly and recognized as the performance obligation is satisfied. • Gains or losses on sales of real estate: Subsequent to the adoption of the new standard, a gain or loss is recognized when the criteria for derecognition of an asset are met, including when (1) a contract exists and (2) the buyer obtained control of the nonfinancial asset that was sold. As a result, we may recognize a gain on real estate disposition transactions that previously did not qualify as a sale or for full profit recognition under the previous accounting standard. We concluded that the adoption of the new standard required a cumulative adjustment of $627,000 to the opening balance of retained earnings as of May 1, 2018, due to the sale of a group of properties in the prior fiscal year. The sale of properties was previously accounted for using the installment method. Under the installment method, we recorded a mortgage receivable net of the deferred gain on sale, which was to be recognized as payments were received. The gain on sale under the new revenue stan

NONCONTROLLING INTERESTS

NONCONTROLLING INTERESTS	8 Months Ended
	Dec. 31, 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 December 31, 2018 , April 30, 2018 , and 2017 were as follows: (in thousands) December 31, 2018 April 30, 2018 April 30, 2017 IRET - 71 France, LLC $ 5,918 $ 6,606 $ 7,427 IRET - Cypress Court Apartments, LLC 829 890 979 IRET - Williston Garden Apartments, LLC — 1,635 1,057 IRET - WRH 1, LLC — (467 ) (619 ) WRH Holding, LLC — 224 360 Noncontrolling interests – consolidated real estate entities $ 6,747 $ 8,888 $ 9,204

REDEEMABLE NONCONTROLLING INTER

REDEEMABLE NONCONTROLLING INTERESTS	8 Months Ended
	Dec. 31, 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) Transition period ended Years ended April 30, December 31, 2018 2018 2017 2016 Balance at beginning of fiscal year $ 6,644 $ 7,117 $ 7,522 $ 6,368 Contributions — 268 17 1,120 Net (loss) income (676 ) (741 ) (422 ) 34 Balance at close of fiscal year $ 5,968 $ 6,644 $ 7,117 $ 7,522

DEBT

DEBT	8 Months Ended
	Dec. 31, 2018
Debt Disclosure [Abstract]
DEBT	DEBT As of December 31, 2018 , we owned 87 apartment communities, of which 51 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 September 1, 2019 , through May 31, 2035 . As of December 31, 2018 , we believe there are no material defaults or instances of material noncompliance in regards to any of these mortgage loans. The aggregate amount of required future principal payments on mortgages payable and term loans as of December 31, 2018 is as follows: (in thousands) 2019 $ 28,587 2020 87,592 2021 104,553 2022 40,917 2023 48,546 Thereafter 280,779 Total payments $ 590,974 As of December 31, 2018 , we owned 40 multifamily and other properties that were not encumbered by mortgages, with 32 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 $250.0 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 $232.5 million at December 31, 2018, providing additional borrowing availability of $175.0 million beyond the $57.5 million drawn as of December 31, 2018, priced at an interest rate of 3.72% . This credit facility matures on August 31, 2022, with one 12 -month option to extend the maturity date at our election. At April 30, 2018 , the line of credit borrowing capacity was $300.0 million based on the UAP, of which $124.0 million was drawn on the line. 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 transition period ended December 31, 2018, we amended our primary unsecured credit facility. We extended the maturity date on our existing $70.0 million unsecured term loan, which now matures on January 15, 2024. We also added a new $75.0 million , seven -year term loan which matures on August 31, 2025. The interest rates on the line of credit and term loans are based, at our option, on the lender's base rate plus a margin, ranging from 35-85 basis points, or the London Interbank Offered Rate (“LIBOR”), plus a margin that ranges from 135-190 basis points based on our consolidated leverage. Our line of credit and term loans are subject to customary financial covenants and limitations. We believe that we are in compliance with all such financial covenants and limitations as of December 31, 2018 . We also have 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 December 31, 2018 and April 30, 2018 , we had no outstanding balance on this operating 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 December 31, 2018 : (in thousands) December 31, 2018 April 30, 2018 April 30, 2017 Weighted Average Maturity in Years Unsecured line of credit $ 57,500 $ 124,000 $ 57,050 3.67 Term loans 145,000 70,000 — 5.86 Unsecured debt 202,500 194,000 57,050 Mortgages payable - fixed (1) 445,974 489,401 629,535 3.61 Mortgages payable - variable (1) — 22,739 57,708 Construction debt - variable — — 41,737 Total debt $ 648,474 $ 706,140 $ 786,030 Weighted average interest rate on unsecured line of credit 3.72 % 3.35 % 2.67 % Weighted average interest rate on term loans (rate with swaps) 4.01 % 3.86 % — Weighted average interest rate on mortgages payable (1) 4.58 % 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 INSTRUMENTS

DERIVATIVE INSTRUMENTS	8 Months Ended
	Dec. 31, 2018
Derivative Instruments and Hedging Activities Disclosure [Abstract]
DERIVATIVE INSTRUMENTS	DERIVATIVE INSTRUMENTS Our objective in using an interest rate derivatives is to add stability to interest expense and to manage our exposure to interest rate fluctuations. To accomplish this objective, we primarily use interest rate swap contracts to fix the variable rate interest on our term loans. The interest rate swap contracts qualify as cash flow hedges. 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. During the next 12 months, we estimate an additional $61,000 will be reclassified as a decrease to interest expense. At December 31, 2018, we had two interest rate swap contracts in effect with a notional amount of $145.0 million and one additional interest rate swap that becomes effective on January 31, 2023 with a notional amount of $70.0 million . The table below presents the fair value of our derivative financial instruments as well as their classification on our Consolidated Balance Sheets as of December 31, 2018, April 30, 2018 and April 30, 2017. (in thousands) (in thousands) December 31, 2018 April 30, 2018 April 30, 2017 December 31, 2018 April 30, 2018 April 30, 2017 Balance Sheet Location Fair Value Fair Value Fair Value Balance Sheet Location Fair Value Fair Value Fair Value Derivative instruments - interest rate swaps Other Assets $ 818 $ 1,779 — Accounts Payable and Accrued Expenses $ 1,675 — — Total derivatives designated as hedging instruments $ 818 $ 1,779 — $ 1,675 — — The table below presents the effect of the Company's derivative financial instruments on the Consolidated Statements of Operations as of December 31, 2018 and April 30, 2018 . (in thousands) Gain (Loss) Recognized in OCI Location of Gain (Loss) Reclassified from Accumulated OCI into Income Gain (Loss) Reclassified from Accumulated OCI into Income Transition Period Ended December 31, Year Ended April 30, Transition Period Ended December 31, Year Ended April 30, 2018 2018 2017 2018 2018 2017 Interest rate contracts $ (2,794 ) $ 1,627 — Interest expense $ (159 ) $ (152 ) — Total derivatives in cash flow hedging relationships $ (2,794 ) $ 1,627 — $ (159 ) $ (152 ) —

TRANSACTIONS WITH RELATED PARTI

TRANSACTIONS WITH RELATED PARTIES	8 Months Ended
	Dec. 31, 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	8 Months Ended
	Dec. 31, 2018
Business Combinations [Abstract]
ACQUISITIONS, DEVELOPMENT PROJECTS PLACED IN SERVICE AND DISPOSITIONS	ACQUISITIONS, DEVELOPMENT PROJECTS PLACED IN SERVICE AND DISPOSITIONS ACQUISITIONS We added no new apartment communities to our portfolio through acquisitions during the transition period ended December 31, 2018 compared to $373.1 million during the fiscal year ended April 30, 2018 and $0 in the fiscal year ended April 30, 2017 . Our acquisitions during fiscal year ended April 30, 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 no development projects in service during the transition period ended December 31, 2018 and the fiscal year ended April 30, 2018 , compared to $102.9 million in fiscal year ended April 30, 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 transition period ended December 31, 2018, we sold three apartment communities, five commercial properties and three parcels of unimproved land for a total sales price of $63.4 million . Dispositions totaled $515.1 million and $286.9 million in the fiscal years ended April 30, 2018 and 2017 , respectively. The dispositions for the transition period ended December 31, 2018 and fiscal years ended April 30, 2018 and 2017 are detailed below. Transition Period Ended December 31, 2018 ( May 1, 2018 to December 31, 2018 ) (in thousands) Date Book Value Dispositions Disposed Sales Price and Sale Cost Gain/(Loss) Multifamily 44 unit - Dakota Commons - Williston, ND July 26, 2018 $ 4,420 $ 3,878 $ 542 145 unit - Williston Garden - Williston, ND (1) July 26, 2018 12,310 11,313 997 288 unit - Renaissance Heights - Williston, ND (2) July 26, 2018 24,770 17,856 6,914 41,500 33,047 8,453 Other 7,849 sq ft Minot Southgate Retail - Minot, ND July 12, 2018 1,925 2,056 (131 ) 9,052 sq ft Fresenius - Duluth, MN July 27, 2018 1,900 1,078 822 15,000 sq ft Minot 2505 16th St SW - Minot, ND October 12, 2018 1,710 1,814 (104 ) 81,594 sq ft Minot Arrowhead - Minot, ND November 30, 2018 6,622 5,907 715 100,850 sq ft Bloomington 2000 W 94th Street - Bloomington, MN December 19, 2018 4,550 4,550 — 16,707 15,405 1,302 Unimproved Land Grand Forks - Grand Forks, ND July 16, 2018 3,000 2,986 14 Renaissance Heights - Williston, ND (3) July 26, 2018 750 684 66 Badger Hills Unimproved - Rochester, MN August 29, 2018 1,400 1,528 (128 ) 5,150 5,198 (48 ) Total Property Dispositions $ 63,357 $ 53,650 $ 9,707 (1) This apartment community was owned by a joint venture entity in which we had an interest of approximately 74.11% . (2) This apartment community was owned by a joint venture entity in which we had an interest of approximately 87.14% . (3) This parcel of land was owned by a joint venture entity in which we had an interest of approximately 70.00% 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 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) 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. 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	8 Months Ended
	Dec. 31, 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 residents. No apartment community comprises more than 10% of consolidated revenues, profits, or assets. Accordingly, our apartment communities are aggregated into a single reportable segment. "All other" is composed of non-multifamily properties, non-multifamily components of mixed use properties, and properties disposed or designated as held for sale. 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), at which point healthcare no longer met the quantitative thresholds for reporting as a separate reportable segment. 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, including real estate taxes. We believe that NOI is an important supplemental measure of operating performance for real estate because it provides a measure of operations that is unaffected by depreciation, amortization, financing, property management overhead, 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 net operating income for the transition period ended December 31, 2018 and 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) Transition period ended December 31, 2018 Multifamily All Other Total Revenue $ 116,138 $ 5,733 $ 121,871 Property operating expenses, including real estate taxes 48,896 1,823 50,719 Net operating income $ 67,242 $ 3,910 $ 71,152 Property management expenses (3,663 ) Casualty loss (915 ) Depreciation and amortization (50,456 ) Impairment of real estate investments (1,221 ) General and administrative expenses (9,812 ) Interest expense (21,359 ) Loss on debt extinguishment (556 ) Interest and other income 1,233 Income (loss) before gain on sale of real estate and other investments and income (loss) from discontinued operations (15,597 ) Gain (loss) on sale of real estate and other investments 9,707 Gain (loss) from continuing operations (5,890 ) Income (loss) from discontinued operations 570 Net income (loss) $ (5,320 ) (in thousands) Year ended April 30, 2018 Multifamily All Other Total Revenue $ 159,983 $ 9,762 $ 169,745 Property operating expenses, including real estate taxes 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 Income (loss) before gain on sale of real estate and other investments and income (loss) from discontinued operations (57,314 ) Gain (loss) on sale of real estate and other investments 20,120 Gain (loss) from continuing operations (37,194 ) Income (loss) from discontinued operations 164,823 Net income (loss) $ 127,629 (in thousands) Year ended April 30, 2017 Multifamily All Other Total Revenue $ 142,214 $ 17,890 $ 160,104 Property operating expenses, including real estate taxes 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 Income (loss) before gain on sale of real estate and other investments (64,929 ) Gain (loss) on sale of real estate and other investments 18,701 Income (loss) from continuing operations (46,228 ) Income (loss) from discontinued operations 76,753 Net income (loss) $ 30,525 (in thousands) Year ended April 30, 2016 Multifamily All Other Total Revenue $ 129,049 $ 16,451 $ 145,500 Property operating expenses, including real estate taxes 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 Income (loss) before loss on sale of real estate and other investments and income (loss) from discontinued operations (3,882 ) Gain (loss) on sale of real estate and other investments 9,640 Gain (loss) on bargain purchase 3,424 Income (loss) from continuing operations 9,182 Income (loss) from discontinued operations 67,420 Net income (loss) $ 76,602 Segment Assets and Accumulated Depreciation (in thousands) As at December 31, 2018 Multifamily All Other Total Segment assets Property owned $ 1,582,917 $ 44,719 $ 1,627,636 Less accumulated depreciation (340,081 ) (13,790 ) (353,871 ) Total property owned $ 1,242,836 $ 30,929 $ 1,273,765 Cash and cash equivalents 13,792 Restricted cash 5,464 Other assets 27,265 Unimproved land 5,301 Mortgage loans receivable 10,410 Total Assets $ 1,335,997 (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	8 Months Ended
	Dec. 31, 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 transition period ended December 31, 2018 and 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 transition period ended December 31, 2018 and the fiscal years ended April 30, 2018 , 2017 , and 2016 . (in thousands) Period Ended Year Ended December 31, 2018 April 30, 2018 April 30, 2017 April 30, 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 (loss) — 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 (loss) from discontinued operations before gain on sale — 1,256 20,607 43,638 Gain (loss) on sale of discontinued operations 570 163,567 56,146 23,782 INCOME (LOSS) FROM DISCONTINUED OPERATIONS $ 570 $ 164,823 $ 76,753 $ 67,420 Segment Data All other $ 570 $ 164,823 $ 76,753 $ 67,420 Total $ 570 $ 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) Period Ended Year Ended 12/31/2018 April 30, 2018 April 30, 2017 April 30, 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 December 31, 2018 and 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 at April 30, 2017: 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	8 Months Ended
	Dec. 31, 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 issued restricted stock units ("RSUs") under our 2015 Incentive Plan, which could have a dilutive effect on our earnings per share upon exercise of the RSUs. Other than the issuance of RSUs, 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 . For the transition period ended December 31, 2018, performance-based restricted stock awards of 25,300 were excluded from the calculation of diluted earnings per share because the assumed proceeds per share plus the average unearned compensation were greater than the average market price of the common stock for the periods presented and, therefore, were anti-dilutive. Refer to Note 17 - Share-Based Compensation for discussion of the terms for these awards. 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 transition period ended December 31, 2018 and the fiscal years ended April 30, 2018 , 2017 , and 2016 : (in thousands, except per share data) For Period Ended For Year Ended April 30, December 31, 2018 April 30, 2018 April 30, 2017 April 30, 2016 NUMERATOR Income (loss) from continuing operations – controlling interests $ (4,908 ) $ (30,266 ) $ (24,473 ) $ 11,553 Income (loss) from discontinued operations – controlling interests 510 147,054 67,820 60,453 Net income (loss) attributable to controlling interests (4,398 ) 116,788 43,347 72,006 Dividends to preferred shareholders (4,547 ) (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 (8,945 ) 104,562 31,366 60,492 Noncontrolling interests – Operating Partnership (1,032 ) 12,702 4,059 7,032 Numerator for diluted earnings per share $ (9,977 ) $ 117,264 $ 35,425 $ 67,524 DENOMINATOR Denominator for basic earnings per share weighted average shares 11,937 119,977 121,169 123,094 Effect of redeemable operating partnership units 1,387 14,617 16,130 14,278 Denominator for diluted earnings per share 13,324 134,594 137,299 137,372 Earnings (loss) per common share from continuing operations – basic and diluted $ (0.79 ) $ (3.54 ) $ (3.01 ) $ — Earnings (loss) per common share from discontinued operations – basic and diluted 0.04 12.25 5.59 4.91 NET EARNINGS (LOSS) PER COMMON SHARE – BASIC & DILUTED $ (0.75 ) $ 8.71 $ 2.58 $ 4.91

RETIREMENT PLANS

RETIREMENT PLANS	8 Months Ended
	Dec. 31, 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 $476,000 , $838,000 , $565,000 , and $836,000 in the transition period ended December 31, 2018 and the fiscal years ended April 30, 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	8 Months Ended
	Dec. 31, 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. 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 resident 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 24 of our properties, consisting of approximately 4,099 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 $532.0 million at December 31, 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. 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 December 31, 2018, April 30, 2018 , and April 30, 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 $68.4 million , $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	8 Months Ended
	Dec. 31, 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 The fair value of our interest rate swaps 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. Fair Value Measurements on a Nonrecurring Basis Non-financial assets measured at fair value on a nonrecurring basis at December 31, 2018 and 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 the transition period ended December 31, 2018 and the fiscal years ended April 30, 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 December 31, 2018 Real estate investments valued at fair value $ 3,049 — — $ 3,049 April 30, 2018 Real estate investments valued at fair value $ 52,145 — — $ 52,145 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 December 31, 2018 and 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 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 December 31, 2018, April 30, 2018 and April 30, 2017 are as follows: (in thousands) 12/31/2018 4/30/2018 4/30/2017 Amount Fair Value Amount Fair Value Amount Fair Value FINANCIAL ASSETS Cash and cash equivalents $ 13,792 $ 13,792 $ 11,891 $ 11,891 $ 28,819 $ 28,819 Mortgage and note receivables 26,809 26,809 25,809 25,809 — — FINANCIAL LIABILITIES Other debt, including other debt related to assets held for sale — — — — 49,637 49,637 Revolving line of credit 57,500 57,500 124,000 124,000 57,050 57,050 Term loan A (1) 70,000 70,000 70,000 70,000 — — Term loan B (1) 75,000 75,000 — — — — Mortgages payable (2) 445,974 444,241 509,919 510,803 665,440 680,941 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	8 Months Ended
	Dec. 31, 2018
Equity [Abstract]
SHAREHOLDERS' EQUITY	SHAREHOLDERS’ EQUITY Operating Partnership Units. Outstanding Units in the Operating Partnership were 1.4 million Units at December 31, 2018, 1.4 million Units at April 30, 2018 , and 1.6 million Units at April 30, 2017 . Exchange Rights. Pursuant to the exercise of Exchange Rights, we redeemed Units during the transition period ended December 31, 2018 and the fiscal years ended April 30, 2018 and 2017 as detailed in the table below. (in thousands, except per Unit amounts) Number of Aggregate Average Price Units Cost Per Unit Transition Period Ended December 31, 2018 9 $ 499 $ 53.12 Fiscal Year Ended April 30, 2018 149 8,775 58.90 Fiscal Year Ended April 30, 2017 17 966 58.40 We also redeemed Units in exchange for common shares during the transition period ended December 31, 2018 and the fiscal years ended April 30, 2018 and April 30, 2017 as detailed in the table below. (in thousands) Number of Total Book Units Value Transition Period Ended December 31, 2018 33 $ 649 Fiscal Year Ended April 30, 2018 3 34 Fiscal Year Ended April 30, 2017 50 875 Common Shares and Equity Awards . Common shares outstanding on December 31, 2018, April 30, 2018 and April 30, 2017 , totaled 11.9 million , 12.0 million , and 12.1 million , respectively. During the transition period ended December 31, 2018 and the fiscal years ended April 30, 2018 and 2017 , we issued approximately 5,600 , 9,300 , and 60,400 common shares, respectively, with a total grant-date value of $347,000 , $536,000 , and $2.6 million , respectively, under our 2015 Incentive Plan, for executive officer and trustee share-based compensation for future performance. During fiscal year 2017, we also issued approximately 5,900 common shares, with a total grant-date value of approximately $352,000 , under our 2008 Incentive Plan, for trustee share based compensation for fiscal year 2016 performance. During the transition period ended December 31, 2018 and the fiscal years ended April 30, 2018 and 2017, approximately 200 , 3,200 , and 27,400 common shares were forfeited under the 2015 Incentive 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. On December 5, 2018, our Board of Trustees reauthorized this share repurchase program for an third 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 the transition period ended December 31, 2018, we repurchased and retired approximately 42,000 common shares for an aggregate cost of $2.2 million , including commissions, at an average price per share of $51.36 , excluding commissions. During fiscal year 2018, we repurchased and retired approximately 178,000 common shares for an aggregate cost of $9.9 million , including commissions, at an average price per share of $55.82 , excluding commissions. During fiscal year 2017, we repurchased and retired approximately 78,000 common shares for an aggregate cost of $4.5 million , including commissions, at an average price per share of $57.69 . 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 ("Series C preferred shares") and redeemed all 4,600,000 shares of our 7.95% Series B Cumulative Redeemable Preferred Shares. The Series C preferred shares are nonvoting and redeemable for cash at $25.00 per share at our option on or after October 2, 2022. Holders of these shares are entitled to cumulative distributions, payable quarterly (as and if declared by the Board of Trustees). Distributions accrue at an annual rate of $1.65625 per share, which is equal to 6.625% of the $25.00 per share liquidation preference ( $103.0 million liquidation preference in the aggregate). 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)	8 Months Ended
	Dec. 31, 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, 2018 October 31, 2018 Two Months Ended December 31, 2018 Revenues $ 45,946 $ 45,638 $ 30,287 Net income (loss) attributable to controlling interest $ 2,916 $ (4,558 ) $ (2,756 ) Net income (loss) available to common shareholders $ 1,211 $ (6,264 ) $ (3,892 ) Net income (loss) per common share - basic & diluted $ 0.10 $ (0.52 ) $ (0.33 ) (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 controlling interests $ (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 $ (1.12 ) $ 0.53 $ 11.22 $ (1.89 ) (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 controlling interests $ (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 $ (2.02 ) $ 0.72 $ 1.58 $ 2.33 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	8 Months Ended
	Dec. 31, 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 restricted stock units ("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 December 31, 2018, awards under the 2015 Incentive Plan consisted of restricted and unrestricted common shares and RSUs. We account for forfeitures of restricted and unrestricted common shares and RSUs when they occur instead of estimating the forfeitures. Transition Period Ended December 31, 2018 LTIP Awards Awards granted to trustees on July 20, 2018, consist of 6,495 time-based RSUs. All of these awards are classified as equity awards. The time-based awards vest on July 20, 2019. We recognize compensation expense associated with the time-based awards ratably over the requisite service period. The fair value of share awards at grant date for non-management trustees was approximately $348,000 , $389,000 , $365,000 , and $352,000 for the transition period ended December 31, 2018 and each of the fiscal years ended April 30, 2018 , 2017 , and 2016 , respectively. Awards granted to management on July 20, 2018, consist of time-based RSUs for 7,492 shares and performance RSUs based on total shareholder return ("TSR") for 14,987 shares. The time-based RSUs vest as to one-third of the shares on each of July 20, 2019, April 30, 2020, and April 30, 2021. All of these awards are classified as equity awards. Awards granted on August 10, 2018, consist of 237 time-based RSUs that vest as to one-third on each of August 10, 2019, April 30, 2020, and April 30, 2021; 474 performance RSUs based on TSR; and 554 time-based RSUs that vest as to one-third on each of August 10, 2019, August 10, 2020, and August 10, 2021. Awards granted on November 5, 2018, consist of 100 time-based RSUs that vest on November 5, 2019. All of these awards are classified as equity awards. 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 30,922 RSUs, which is 200% of the RSUs granted. 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 of 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 28.6% , a risk-free interest rate of 2.66% and an expected life of 2.78 years . The share price at the grant date, July 20, 2018, was $53.60 per share. Total Compensation Expense Total share based compensation expense recognized in the consolidated financial statements for the transition period ended December 31, 2018 and the three years ended April 30, 2018 , for all share-based awards was as follows (in thousands): Transition Period Ended Fiscal Year Ended April 30, December 31, 2018 2018 2017 2016 Share based compensation expense $ 845 $ 1,587 $ 6 $ 2,256 Restricted Share Awards The total fair value of time-based share grants vested during the transition period ended December 31, 2018 and the fiscal years ended April 30, 2018 , 2017 , and 2016 was $147,000 , $1.1 million , $127,000 , and $647,000 , respectively. As of December 31, 2018, the total compensation cost related to non-vested time-based share awards not yet recognized was $109,000 , which we expect to recognize over a weighted average period of 1.1 years . The unamortized value of share awards with market conditions as of December 31, 2018, April 30, 2018 , and April 30, 2017 was approximately $26,000 , $130,000 , and $300,000 , respectively. The activity for the transition period ended December 31, 2018 and the three years ended April 30, 2018 , 2017, and 2016, related to our restricted share awards was as follows: Awards with Service Conditions Wtd Avg Grant- Shares Date Fair Value Unvested at April 30, 2015 10,754 $ 71.70 Granted — — Vested (10,754 ) 71.70 Unvested at April 30, 2016 — Granted 25,326 61.59 Vested (2,132 ) 59.50 Forfeited (3,683 ) 62.40 Unvested at April 30, 2017 19,511 Granted 9,136 57.55 Vested (18,545 ) 59.89 Forfeited (202 ) 62.40 Unvested at April 30, 2018 9,900 Granted — — Vested (2,709 ) 63.21 Forfeited — — Unvested at December 31, 2018 7,191 $ 60.49 Restricted Stock Units During the transition period ended December 31, 2018, we issued 8,383 time-based RSUs to management. These RSUs generally vest over a three year period. The fair value of the time-based RSUs granted to management during the transition period ended December 31, 2018 was $449,000 . The total compensation cost related to non-vested time-based RSUs not yet recognized is $574,000 , which we expect to recognize over a weighted average period of 1.7 years . RSUs with market conditions were granted under the LTIP during the transition period ended December 31, 2018 with a fair market value, as determined using a Monte Carlo simulation, of $892,000 . The unamortized value of awards and RSUs with market conditions as of December 31, 2018 and April 30, 2018 , was approximately $1.1 million and $448,000 , respectively. The activity for the transition period ended December 31, 2018 and the three years ended April 30, 2018 , related to our RSUs was as follows: RSUs with Service Conditions RSUs with Market Conditions Wtd Avg Grant- Wtd Avg Grant- Shares Date Fair Value Shares Date Fair Value Unvested at April 30, 2017 — — Granted 6,994 $ 60.54 11,538 $ 70.90 Vested (207 ) 50.30 — Forfeited — — Unvested at April 30, 2018 6,787 60.85 11,538 70.90 Granted 14,878 53.60 15,461 57.70 Vested (2,943 ) 60.83 — — Forfeited (462 ) 53.60 (1,680 ) 70.90 Unvested at December 31, 2018 18,260 $ 55.13 25,319 $ 62.84

SUBSEQUENT EVENTS

SUBSEQUENT EVENTS	8 Months Ended
	Dec. 31, 2018
Subsequent Events [Abstract]
SUBSEQUENT EVENTS	SUBSEQUENT EVENTS On February 26, 2019, we acquired SouthFork Townhomes, a 272 -unit residential apartment community located in Lakeville, Minnesota, for a total sale pri ce of $44.0 million , with $27.4 million paid in cash and $16.6 million paid through the issuance of convertible preferred units that have a 3.9% coupon and are convertible, at the holders' option, into common units at an exchange rate of $72.50 per common unit share. The convertible preferred units also have a put feature that allows the seller to put all or any of the convertible preferred units to IRET for a cash payment equal to the issue price.

SCHEDULE III - REAL ESTATE AND

SCHEDULE III - REAL ESTATE AND ACCUMULATED DEPRECIATION	8 Months Ended
	Dec. 31, 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 $ 55,554 $ 4,721 $ 61,762 $ 102 $ 4,721 $ 61,864 $ 66,585 $ (7,861 ) 2016 30-37 years Alps Park - Rapid City, SD 3,543 287 5,551 370 333 5,875 6,208 (1,084 ) 2013 30-37 years Arbors - South Sioux City, NE 3,494 350 6,625 2,530 1,055 8,450 9,505 (3,328 ) 2006 30-37 years Arcata - Golden Valley, MN — 2,088 31,036 120 2,090 31,154 33,244 (5,281 ) 2015 30-37 years Ashland - Grand Forks, ND 5,115 741 7,569 293 803 7,800 8,603 (1,704 ) 2012 30-37 years Avalon Cove - Rochester, MN — 1,616 34,074 437 1,726 34,401 36,127 (3,237 ) 2016 30-37 years Boulder Court - Eagan, MN — 1,067 5,498 3,253 1,561 8,257 9,818 (3,613 ) 2003 30-37 years Brookfield Village - Topeka, KS 4,847 509 6,698 2,008 926 8,289 9,215 (3,418 ) 2003 30-37 years Canyon Lake - Rapid City, SD 2,636 305 3,958 2,411 398 6,276 6,674 (2,794 ) 2001 30-37 years Cardinal Point - Grand Forks, ND — 1,600 33,400 52 1,615 33,437 35,052 (700 ) 2013 30-37 years Cascade Shores - Rochester, MN 11,400 1,585 16,710 88 1,586 16,797 18,383 (1,636 ) 2016 30-37 years Castlerock - Billings, MT 6,134 736 4,864 2,459 1,022 7,037 8,059 (3,879 ) 1998 30-37 years Chateau - Minot, ND — 301 20,058 940 326 20,973 21,299 (4,017 ) 2013 30-37 years Cimarron Hills - Omaha, NE 4,406 706 9,588 4,891 1,588 13,597 15,185 (6,732 ) 2001 30-37 years Colonial Villa - Burnsville, MN — 2,401 11,515 9,418 2,946 20,388 23,334 (9,557 ) 2003 30-37 years Colony - Lincoln, NE 12,251 1,515 15,730 1,656 1,771 17,130 18,901 (3,826 ) 2012 30-37 years Commons and Landing at Southgate - Minot, ND 25,655 5,945 47,512 1,460 6,333 48,584 54,917 (8,764 ) 2015 30-37 years Cottage West Twin Homes - Sioux Falls, SD 3,338 968 3,762 618 1,076 4,272 5,348 (943 ) 2011 30-37 years Cottonwood - Bismarck, ND — 1,056 17,372 5,583 1,625 22,386 24,011 (10,152 ) 1997 30-37 years Country Meadows - Billings, MT 6,062 491 7,809 1,789 575 9,514 10,089 (5,134 ) 1995 30-37 years Crestview - Bismarck, ND 3,511 235 4,290 2,301 607 6,219 6,826 (4,002 ) 1994 30-37 years Crown Colony - Topeka, KS 7,499 620 9,956 3,949 1,207 13,318 14,525 (6,541 ) 1999 30-37 years Crystal Bay - Rochester, MN — 433 11,425 272 436 11,694 12,130 (1,078 ) 2016 30-37 years Cypress Court - St. Cloud, MN 12,217 1,583 18,879 252 1,612 19,102 20,714 (3,508 ) 2012 30-37 years Deer Ridge - Jamestown, ND 11,001 711 24,129 201 738 24,303 25,041 (3,534 ) 2013 30-37 years Dylan - Denver, CO — 12,155 77,215 572 12,155 77,787 89,942 (2,917 ) 2013 30-37 years Evergreen - Isanti, MN — 1,129 5,524 430 1,141 5,942 7,083 (1,528 ) 2008 30-37 years Forest Park - Grand Forks, ND 7,011 810 5,579 8,447 1,473 13,363 14,836 (7,928 ) 1993 30-37 years French Creek - Rochester, MN — 201 4,735 217 207 4,946 5,153 (434 ) 2016 30-37 years Gables Townhomes - Sioux Falls, SD 1,351 349 1,921 257 400 2,127 2,527 (458 ) 2011 30-37 years Gardens - Grand Forks, ND — 518 8,702 113 528 8,805 9,333 (1,017 ) 2015 30-37 years Grand Gateway - St. Cloud, MN — 814 7,086 1,888 961 8,827 9,788 (2,406 ) 2012 30-37 years GrandeVille at Cascade Lake - Rochester, MN 36,000 5,003 50,363 1,651 5,065 51,952 57,017 (5,814 ) 2015 30-37 years Greenfield - Omaha, NE — 578 4,122 1,344 872 5,172 6,044 (1,799 ) 2007 30-37 years Heritage Manor - Rochester, MN 3,248 403 6,968 3,317 682 10,006 10,688 (5,251 ) 1998 30-37 years Homestead Garden - Rapid City, SD — 655 14,139 665 718 14,741 15,459 (2,195 ) 2015 30-37 years Indian Hills - Sioux City, IA — 294 2,921 4,489 470 7,234 7,704 (2,361 ) 2007 30-37 years Kirkwood Manor - Bismarck, ND 3,039 449 2,725 1,950 625 4,499 5,124 (2,498 ) 1997 30-37 years Lakeside Village - Lincoln, NE 12,111 1,215 15,837 1,202 1,348 16,906 18,254 (3,659 ) 2012 30-37 years INVESTORS REAL ESTATE TRUST AND SUBSIDIARIES December 31, 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 $ 1,215 $ 366 $ 2,547 $ 2,913 $ (1,492 ) 1997 30-37 years Legacy - Grand Forks, ND $ 14,031 1,362 21,727 10,479 2,263 31,305 33,568 (15,220 ) 1995-2005 30-37 years Legacy Heights - Bismarck, ND — 1,207 13,742 419 1,307 14,061 15,368 (1,578 ) 2015 30-37 years Mariposa - Topeka, KS 2,715 399 5,110 1,041 455 6,095 6,550 (2,228 ) 2004 30-37 years Meadows - Jamestown, ND — 590 4,519 1,955 710 6,354 7,064 (3,091 ) 1998 30-37 years Monticello Crossings - Monticello, MN — 1,734 30,136 28 1,734 30,164 31,898 (2,648 ) 2017 30-37 years Monticello Village - Monticello, MN — 490 3,756 1,108 638 4,716 5,354 (1,922 ) 2004 30-37 years North Pointe - Bismarck, ND 3,175 303 3,957 1,359 384 5,235 5,619 (2,331 ) 1995-2011 30-37 years Northridge - Bismarck, ND — 884 7,515 191 974 7,616 8,590 (1,041 ) 2015 30-37 years Oakmont Estates - Sioux Falls, SD — 422 4,838 1,404 711 5,953 6,664 (2,664 ) 2002 30-37 years Oakwood Estates - Sioux Falls, SD — 543 2,784 4,828 868 7,287 8,155 (5,235 ) 1993 30-37 years Olympic Village - Billings, MT 9,777 1,164 10,441 4,033 1,829 13,809 15,638 (6,978 ) 2000 30-37 years Olympik Village - Rochester, MN 3,895 1,034 6,109 2,718 1,368 8,493 9,861 (3,336 ) 2005 30-37 years Oxbo - St Paul, MN — 5,809 51,586 167 5,879 51,683 57,562 (3,093 ) 2015 30-37 years Oxbow Park - Sioux Falls, SD — 404 3,152 3,738 993 6,301 7,294 (4,496 ) 1994 30-37 years Park Meadows - Waite Park, MN 7,934 1,143 9,099 9,999 2,121 18,120 20,241 (9,812 ) 1997 30-37 years Park Place - Plymouth, MN — 10,609 80,781 3,471 10,623 84,238 94,861 (3,892 ) 1997 30-37 years Pebble Springs - Bismarck, ND — 7 748 236 65 926 991 (497 ) 1999 30-37 years Pinehurst - Billings, MT — 72 687 523 168 1,114 1,282 (493 ) 2002 30-37 years Plaza - Minot, ND — 867 12,784 3,046 998 15,699 16,697 (4,410 ) 2009 30-37 years Pointe West - Rapid City, SD 2,393 240 3,538 2,095 431 5,442 5,873 (3,253 ) 1994 30-37 years Ponds at Heritage Place - Sartell, MN — 395 4,564 446 413 4,992 5,405 (1,098 ) 2012 30-37 years Prairie Winds - Sioux Falls, SD 1,292 144 1,816 739 309 2,390 2,699 (1,589 ) 1993 30-37 years Quarry Ridge - Rochester, MN 25,277 2,254 30,024 2,092 2,406 31,964 34,370 (8,553 ) 2006 30-37 years Red 20 - Minneapolis, MN 22,219 1,900 24,116 185 1,908 24,293 26,201 (4,221 ) 2015 30-37 years Regency Park Estates - St. Cloud, MN 7,838 702 10,198 2,455 1,060 12,295 13,355 (3,121 ) 2011 30-37 years Ridge Oaks - Sioux City, IA 3,131 178 4,073 3,007 318 6,940 7,258 (3,250 ) 2001 30-37 years Rimrock West - Billings, MT 3,046 330 3,489 2,062 516 5,365 5,881 (2,647 ) 1999 30-37 years River Ridge - Bismarck, ND — 576 24,670 899 793 25,352 26,145 (5,598 ) 2008 30-37 years Rocky Meadows - Billings, MT 4,722 656 5,726 1,617 815 7,184 7,999 (4,087 ) 1995 30-37 years Rum River - Isanti, MN 3,235 843 4,823 463 864 5,265 6,129 (1,700 ) 2007 30-37 years Sherwood - Topeka, KS 11,268 1,142 14,684 5,327 2,159 18,994 21,153 (9,478 ) 1999 30-37 years Sierra Vista - Sioux Falls, SD — 241 2,097 596 291 2,643 2,934 (662 ) 2011 30-37 years Silver Springs - Rapid City, SD 2,088 215 3,007 724 257 3,689 3,946 (574 ) 2015 30-37 years South Pointe - Minot, ND 7,871 550 9,548 5,638 1,373 14,363 15,736 (8,222 ) 1995 30-37 years Southpoint - Grand Forks, ND — 576 9,893 169 633 10,005 10,638 (1,548 ) 2013 30-37 years Southwind - Grand Forks, ND 5,031 400 4,938 4,119 827 8,630 9,457 (4,988 ) 1995 30-37 years Sunset Trail - Rochester, MN 7,476 336 12,814 3,283 720 15,713 16,433 (7,608 ) 1999 30-37 years Thomasbrook - Lincoln, NE 5,496 600 10,306 5,329 1,646 14,589 16,235 (6,829 ) 1999 30-37 years Valley Park - Grand Forks, ND 3,555 294 4,137 4,049 1,223 7,257 8,480 (4,072 ) 1999 30-37 years Villa West - Topeka, KS 11,381 1,590 15,760 1,882 2,338 16,894 19,232 (3,787 ) 2012 30-37 years Village Green - Rochester, MN — 234 2,296 1,068 359 3,239 3,598 (1,394 ) 2003 30-37 years Westend - Denver, CO — 25,525 102,180 174 25,525 102,354 127,879 (2,848 ) 1995 30-37 years INVESTORS REAL ESTATE TRUST AND SUBSIDIARIES December 31, 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 $ 7,720 $ 939 $ 10,167 $ 7,836 $ 1,914 $ 17,028 $ 18,942 $ (9,874 ) 1995 30-37 years Westwood Park - Bismarck, ND 1,814 116 1,909 2,063 293 3,795 4,088 (2,114 ) 1998 30-37 years Whispering Ridge - Omaha, NE 20,561 2,139 25,424 1,693 2,438 26,818 29,256 (5,317 ) 2012 30-37 years Winchester - Rochester, MN — 748 5,622 2,554 1,044 7,880 8,924 (3,536 ) 2003 30-37 years Woodridge - Rochester, MN 5,610 370 6,028 3,358 750 9,006 9,756 (5,068 ) 1997 30-37 years Total Multifamily $ 445,974 $ 130,603 $ 1,260,439 $ 191,875 $ 153,398 $ 1,429,519 $ 1,582,917 $ (340,081 ) 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 $ 775 $ — $ 6,654 $ 6,654 $ (585 ) 2016 30-37 years Oxbo - St Paul, MN — — 3,472 54 — 3,526 3,526 (194 ) 2015 30-37 years Plaza - Minot, ND — 389 5,444 3,764 598 8,999 9,597 (3,494 ) 2009 30-37 years Red 20 - Minneapolis, MN — — 2,525 419 — 2,944 2,944 (401 ) 2015 30-37 years Total Other - Mixed Use — $ 389 $ 17,320 $ 5,012 $ 598 $ 22,123 $ 22,721 $ (4,674 ) Other - Commercial Dakota West Plaza - Minot , ND — 92 493 39 106 518 624 (185 ) 2006 30-37 years Minot 1400 31st Ave - Minot, ND — 1,026 6,143 4,437 1,038 10,568 11,606 (5,485 ) 2010 30-37 years Minot IPS - Minot, ND — 416 5,952 — 416 5,952 6,368 (3,399 ) 2012 30-37 years Woodbury 1865 Woodlane - Woodbury, MN — 1,108 2,292 — 1,108 2,292 3,400 (47 ) 2007 30-37 years Total Other - Commercial — $ 2,642 $ 14,880 $ 4,476 $ 2,668 $ 19,330 $ 21,998 $ (9,116 ) Subtotal $ 445,974 $ 133,634 $ 1,292,639 $ 201,363 $ 156,664 $ 1,470,972 $ 1,627,636 $ (353,871 ) INVESTORS REAL ESTATE TRUST AND SUBSIDIARIES December 31, 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 Creekside Crossing - Bismarck, ND — $ 2,357 — $ 692 $ 3,049 — $ 3,049 — 2015 Minot 1525 24th Ave SW - Minot, ND — 506 — — 506 — 506 — 2015 Rapid City - Rapid City, SD — 1,376 — — 1,376 — 1,376 — 2014 Weston - Weston, WI — 370 — — 370 — 370 — 2006 Total Unimproved Land — $ 4,609 — $ 692 $ 5,301 — $ 5,301 — Total $ 445,974 $ 138,243 $ 1,292,639 $ 202,055 $ 161,965 $ 1,470,972 $ 1,632,937 $ (353,871 ) (1) Amounts in this column are the mortgages payable balance as of December 31, 2018. These amounts do not include amounts owing under the Company's multi-bank line of credit or term loans. Reconciliations of the carrying value of total property owned for the transition period ended December 31, 2018 and the three years ended April 30, 2018 , 2017 , and 2016 are as follows: (in thousands) Transition Period Ended Year Ended April 30, December 31, 2018 2018 2017 2016 Balance at beginning of year $ 1,669,764 $ 1,358,529 $ 1,369,893 $ 1,090,362 Additions during year Multifamily and Other — 369,332 61,565 285,080 Improvements and Other 11,620 15,065 34,761 31,007 1,681,384 1,742,926 1,466,219 1,406,449 Deductions during year Cost of real estate sold (53,653 ) (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) (95 ) (3,372 ) (3,388 ) (8,878 ) Balance at close of year $ 1,627,636 $ 1,669,764 $ 1,358,529 $ 1,369,893 INVESTORS REAL ESTATE TRUST AND SUBSIDIARIES December 31, 2018 Schedule III - REAL ESTATE AND ACCUMULATED DEPRECIATION (in thousands) Reconciliations of accumulated depreciation/amortization for the transition period ended December 31, 2018 and the three years ended April 30, 2018 , 2017 , and 2016 , are as follows: (in thousands) Transition Period Ended Year Ended April 30, December 31, 2018 2018 2017 2016 Balance at beginning of year $ 311,324 $ 255,599 $ 237,859 $ 212,826 Additions during year Provisions for depreciation 49,208 78,785 42,960 37,846 Deductions during year Accumulated depreciation on real estate sold or classified as held for sale (6,609 ) (11,033 ) (14,687 ) (9,957 ) Write down of asset and accumulated depreciation on impaired assets — (8,597 ) (7,144 ) — Other (1) (52 ) (3,430 ) (3,389 ) (2,856 ) Balance at close of year $ 353,871 $ 311,324 $ 255,599 $ 237,859 Reconciliations of development in progress for the transition period ended December 31, 2018 and the three years ended April 30, 2018 , 2017 , and 2016 , are as follows: (in thousands) Transition Period Ended Year Ended April 30, December 31, 2018 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 December 31, 2018 Schedule III - REAL ESTATE AND ACCUMULATED DEPRECIATION (in thousands) Reconciliations of unimproved land for the transition period ended December 31, 2018 and the three years ended April 30, 2018 , 2017 , and 2016 are as follows: (in thousands) Transition Period Ended Year Ended April 30, December 31, 2018 2018 2017 2016 Balance at beginning of year $ 11,476 $ 18,455 $ 20,939 $ 25,827 Additions during year Improvements and other — — 1,024 205 Deductions during year Cost of real estate sold (4,954 ) (1,000 ) — (442 ) Impairment charge (1,221 ) (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 5,301 11,476 18,455 20,939 Total real estate investments, excluding mortgage notes receivable (3) $ 1,279,066 $ 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 $1.2 billion , $1.5 billion , $1.4 billion and $1.6 billion at December 31, 2018, April 30, 2018 , 2017 and 2016 , respectively.

BASIS OF PRESENTATION AND SIG_2

BASIS OF PRESENTATION AND SIGNIFICANT ACCOUNTING POLICIES (Policies)	8 Months Ended
	Dec. 31, 2018
Accounting Policies [Abstract]
BASIS OF PRESENTATION	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 previously ended April 30th.
CONSOLIDATION	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	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	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 adopted 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, which were evaluated under this ASU, include but are not limited to other income from residents determined not to be within the scope of ASC 840 and gains and losses from real estate dispositions. Refer to the Revenues section below for information regarding the impact of adopting the standard 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. Our residential leases, where we are the lessor, will continue to be accounted for as operating leases under the new standard. As a result, there is not a significant change in the accounting for lease revenue. For leases where we are the lessee, we will recognize a right of use asset and related lease liability on our consolidated balance sheets upon adoption. The adoption of this standard will not have a material impact on our consolidated financial statements. 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. We adopted the new standard effective May 1, 2018. The standard requires we present combined inflows and outflows of cash, cash equivalents, and restricted cash in the consolidated statement of cash flows. See additional disclosures regarding the required change below. ASU 2016-18, Statement of Cash Flows (Topic 230): Restricted Cash This ASU requires the statement of cash flows to explain the change in total cash, cash equivalents, and amounts generally described as restricted cash. It also requires that restricted cash be included when reconciling the beginning and end of period amounts on the statement of cash flows. This ASU is effective for fiscal years beginning after December 15, 2017, and interim periods within those fiscal years. We adopted the new standard effective May 1, 2018. The standard requires we present combined inflows and outflows of cash, cash equivalents, and restricted cash in the consolidated statement of cash flows. See additional disclosures regarding the required change below. 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. We adopted the new standard effective May 1, 2018 using the modified retrospective approach. Refer to the Revenues section below for information regarding the impact of adopting the standard on our condensed consolidated financial statements. ASU 2018-10, Codification Improvements to Topic 842, Leases This ASU was issued to increase shareholders' awareness of narrow aspects of the guidance issued in the amendments and to expedite the improvements under ASU 2016-02. This ASU is effective for annual reporting periods beginning after December 15, 2018. Early adoption is permitted. The adoption of this standard will not have a material impact on our consolidated financial statements. Standard Description Date of Adoption Effect on the Financial Statements or Other Significant Matters ASU 2018-11, Leases: Targeted Improvements This ASU allows lessors to account for lease and non-lease components, by class of underlying assets, as a single lease component if certain criteria are met. The new standard also indicates that companies are permitted to recognize a cumulative-effect adjustment to the opening balance of retained earnings in the period of adoption in lieu of the modified retrospective approach and provides other practical expedients. This ASU is effective for annual reporting periods beginning after December 15, 2018. Early adoption is permitted. The adoption of this standard will not have a material impact on our consolidated financial statements. ASU 2018-13, Fair Value Measurements (Topic 820) - Disclosure Framework - Changes to the Disclosure Requirement for Fair Value Measurements This ASU eliminates certain disclosure requirements affecting all levels of measurement, and modifies and adds new disclosure requirements for Level 3 measurements. This ASU is effective for annual reporting periods beginning after December 15, 2019. Early adoption is permitted. We are currently evaluating the impact the new standard may have on our disclosures. ASU 2018-15, Intangibles - Goodwill and Other - Internal-Use Software (Topic 350-40): Customer's Accounting for Implementation Costs Incurred in a Cloud Computing Arrangement That is a Service Contract This ASU reduces the complexity for the accounting for costs of implementing a cloud computing service arrangement. The standard aligns various requirements for capitalizing implementation costs. This ASU is effective for annual reporting periods beginning after December 15, 2019. Early adoption is permitted. We are currently evaluating the impact the new standard may have on our consolidated financial statements. ASU 2018-20, Leases (Topic 842) - Narrow-Scope Improvements for Lessors This ASU reduces a lessor's implementation and ongoing costs associated with applying the new leases standard. The ASU also clarifies a specific lessor accounting requirements. This ASU is effective for annual reporting periods beginning after December 15, 2018. Early adoption is permitted. The adoption of this standard will not have a material impact on our consolidated financial statements.
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.
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 $1.3 billion , $1.4 billion , and $1.1 billion as of December 31, 2018 , April 30, 2018 , and April 30, 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 comparable transactions. 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. 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. We did not capitalize interest during the transition period ended December 31, 2018 . 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 control of the assets transfers to the buyer 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 physical 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.
CHANGE IN DEPRECIABLE LIVES OF REAL ESTATE ASSETS AND PROPERTY AND EQUIPMENT	PROPERTY AND EQUIPMENT Property and equipment consists primarily of office equipment contained at our headquarters in Minot, North Dakota, corporate office in Minneapolis, 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 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.
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 December 31, 2018 and 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 these standards, 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.
CASH AND CASH EQUIVALENTS	CASH, CASH EQUIVALENTS, AND RESTRICTED CASH Effective May 1, 2018, we adopted ASU 2016-15, Classification of Certain Cash Receipts and Cash Payments and ASU 2016-18, Statement of Cash Flows (Topic 230): Restricted Cash, which affects the presentation and disclosure of the statements of cash flows. Previously our consolidated statements of cash flows presented transfers between restricted cash and unrestricted cash as operating, financing, and investing cash activities based upon the required or intended purpose for the restricted cash. We revised our consolidated statements of cash flows for the years ended April 30, 2018 , 2017, and 2016 to conform to this presentation, and the effect of the revisions to net cash flows from operating and investing activities as previously reported for the years ended April 30, 2018, 2017, and 2016 are summarized in the following table: (in thousands) As previously reported Impact of ASUs As adjusted and currently reported April 30, 2018 2016-15 and 2016-18 April 30, 2018 Net cash provided by operating activities $ 48,035 $ 7,160 $ 55,195 Net cash provided by (used by) investing activities 104,189 (24,077 ) 80,112 Net cash provided by (used by) financing activities (169,152 ) (6,839 ) (175,991 ) Net increase (decrease) in cash, cash equivalents (16,928 ) 16,928 — Net increase (decrease) in cash, cash equivalents, and restricted cash — (40,684 ) (40,684 ) Cash and cash equivalents at beginning of period 28,819 (28,819 ) — Cash, cash equivalents, and restricted cash at beginning of period — 56,800 56,800 Cash and cash equivalents at end of period $ 11,891 Cash, cash equivalents, and restricted cash at end of period $ 4,225 $ 16,116 (in thousands) As previously reported Impact of ASUs As adjusted and currently reported April 30, 2017 2016-15 and 2016-18 April 30, 2017 Net cash provided by operating activities $ 73,930 $ 5,122 $ 79,052 Net cash provided by (used by) investing activities 202,263 21,897 224,160 Net cash provided by (used by) financing activities (314,072 ) (3,848 ) (317,920 ) Net increase (decrease) in cash, cash equivalents (37,879 ) 37,879 — Net increase (decrease) in cash, cash equivalents, and restricted cash — (14,708 ) (14,708 ) Cash and cash equivalents at beginning of period 66,698 (66,698 ) — Cash, cash equivalents, and restricted cash at beginning of period — 71,508 71,508 Cash and cash equivalents at end of period $ 28,819 Cash, cash equivalents, and restricted cash at end of period $ 27,981 $ 56,800 (in thousands) As previously reported Impact of ASUs As adjusted and currently reported April 30, 2016 2016-15 and 2016-18 April 30, 2016 Net cash provided by operating activities $ 66,493 $ 5,768 $ 72,261 Net cash provided by (used by) investing activities 134,252 (5,700 ) 128,552 Net cash provided by (used by) financing activities (183,017 ) (6,321 ) (189,338 ) Net increase (decrease) in cash, cash equivalents 17,728 (17,728 ) — Net increase (decrease) in cash, cash equivalents, and restricted cash — 11,475 11,475 Cash and cash equivalents at beginning of period 48,970 (48,970 ) — Cash, cash equivalents, and restricted cash at beginning of period — 60,033 60,033 Cash and cash equivalents at end of period $ 66,698 Cash, cash equivalents, and restricted cash at end of period $ 4,810 $ 71,508 (in thousands) Balance sheet description December 31, 2018 April 30, 2018 April 30, 2017 Cash and cash equivalents $ 13,792 $ 11,891 $ 28,819 Restricted cash 5,464 4,225 27,981 Total cash, cash equivalents and restricted cash $ 19,256 $ 16,116 $ 56,800 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	As of December 31, 2018 , April 30, 2018 , and April 30, 2017 , restricted cash consisted of $5.5 million , $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
REVENUE	REVENUE We adopted ASU 2014-09, Revenue from Contracts with Customers, as of May 1, 2018, using the modified retrospective approach. We elected to apply the new standard to contracts that are not complete as of May 1, 2018. We also elected to omit disclosing the value of unsatisfied performance obligations for contracts with an original expected length of one year or less. Under the new standard, revenue is recognized in accordance with the transfer of goods and services to customers at an amount that reflects the consideration the company expects to be entitled for those goods and services. We primarily lease multifamily apartments under operating leases generally with terms of one year or less . Rental revenues are recognized in accordance with ASC 840, Leases, using a method that represents a straight-line basis over the term of the lease. Rental income represents approximately 96.5% of our total revenues and includes gross market rent less adjustments for concessions, vacancy loss, and bad debt. Other property revenues represent the remaining 3.5% of our total revenue and are primarily driven by utility reimbursement from our residents and other fee income, which is typically recognized at a point in time. Revenue streams that are included in ASU 2014-09 include: • Other property revenues: We recognize revenue for rental related income not included as a component of a lease, such as other transactional fees, when the services are transferred to our customers for an amount which reflects the consideration we expect to receive in exchange for those services. These fees are charged to residents monthly and recognized as the performance obligation is satisfied. • Gains or losses on sales of real estate: Subsequent to the adoption of the new standard, a gain or loss is recognized when the criteria for derecognition of an asset are met, including when (1) a contract exists and (2) the buyer obtained control of the nonfinancial asset that was sold. As a result, we may recognize a gain on real estate disposition transactions that previously did not qualify as a sale or for full profit recognition under the previous accounting standard. We concluded that the adoption of the new standard required a cumulative adjustment of $627,000 to the opening balance of retained earnings as of May 1, 2018, due to the sale of a group of properties in the prior fiscal year. The sale of properties was previously accounted for using the installment method. Under the installment method, we recorded a mortgage receivable net of the deferred gain on sale, which was to be recognized as payments were received. The gain on sale under the new revenue standard is recognized when control of the assets is transferred to the buyer. As a result of our adoption of the new standard, we recorded a cumulative adjustment to retained earnings and increased the mortgage receivable by $627,000 to recognize the previously deferred gain on sale. The following table presents the disaggregation of revenue streams of our rental income for the transition period ended December 31, 2018 : (in thousands, except percentages) Eight Months Ended December 31, 2018 Revenue Stream Applicable Standard Amount of Revenue Percent of Revenue Rental revenue Leases $ 117,575 96.5 % Other property revenue Revenue Recognition 4,296 3.5 % $ 121,871 100.0 %
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 transition period ended December 31, 2018 and 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 transition period ended December 31, 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 transition period ended December 31, 2018 and 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, 2018 , were characterized, for federal income tax purposes, as 100.00% capital gain. 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.
VARIABLE INTEREST ENTITY	VARIABLE INTEREST ENTITY We have determined that our Operating Partnership and each of our less-than-wholly owned real estate partnerships is a variable interest entity (“VIE”), as the limited partners or the functional equivalent of limited partners lack substantive kick-out rights and substantive participating rights. We are the primary beneficiary of the VIEs, and the VIEs 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 economic performance of the VIEs 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 our Operating Partnership is a VIE, all of our assets and liabilities are held through a VIE.

BASIS OF PRESENTATION AND SIG_3

BASIS OF PRESENTATION AND SIGNIFICANT ACCOUNTING POLICIES (Tables)	8 Months Ended
	Dec. 31, 2018
Accounting Policies [Abstract]
Schedule of Error Corrections and Prior Period Adjustments	The effect of these revisions on our condensed consolidated balance sheet is as follows: (in thousands) As previously reported at April 30, 2017 Adjustment As revised at April 30, 2017 Common shares of beneficial interest $ 916,121 $ (7,216 ) $ 908,905 Noncontrolling interests - consolidated real estate entities 1,924 7,280 9,204 Redeemable noncontrolling interests - consolidated real estate entities 7,181 (64 ) 7,117 (in thousands) As previously reported at April 30, 2018 Adjustment As revised at April 30, 2018 Common shares of beneficial interest $ 907,843 $ (7,746 ) $ 900,097 Noncontrolling interests - consolidated real estate entities 1,078 7,810 8,888 Redeemable noncontrolling interests - consolidated real estate entities 6,708 (64 ) 6,644 The effect of these revisions on our condensed consolidated statements of equity is as follows: (in thousands) As previously reported at April 30, 2017 Adjustment As revised at April 30, 2017 Common shares of beneficial interest $ 916,121 $ (7,216 ) $ 908,905 Nonredeemable noncontrolling interests 75,157 7,280 82,437 (in thousands) As previously reported at April 30, 2018 Adjustment As revised at April 30, 2018 Common shares of beneficial interest $ 907,843 $ (7,746 ) $ 900,097 Nonredeemable noncontrolling interests 74,090 7,810 81,900
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 adopted 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, which were evaluated under this ASU, include but are not limited to other income from residents determined not to be within the scope of ASC 840 and gains and losses from real estate dispositions. Refer to the Revenues section below for information regarding the impact of adopting the standard 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. Our residential leases, where we are the lessor, will continue to be accounted for as operating leases under the new standard. As a result, there is not a significant change in the accounting for lease revenue. For leases where we are the lessee, we will recognize a right of use asset and related lease liability on our consolidated balance sheets upon adoption. The adoption of this standard will not have a material impact on our consolidated financial statements. 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. We adopted the new standard effective May 1, 2018. The standard requires we present combined inflows and outflows of cash, cash equivalents, and restricted cash in the consolidated statement of cash flows. See additional disclosures regarding the required change below. ASU 2016-18, Statement of Cash Flows (Topic 230): Restricted Cash This ASU requires the statement of cash flows to explain the change in total cash, cash equivalents, and amounts generally described as restricted cash. It also requires that restricted cash be included when reconciling the beginning and end of period amounts on the statement of cash flows. This ASU is effective for fiscal years beginning after December 15, 2017, and interim periods within those fiscal years. We adopted the new standard effective May 1, 2018. The standard requires we present combined inflows and outflows of cash, cash equivalents, and restricted cash in the consolidated statement of cash flows. See additional disclosures regarding the required change below. 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. We adopted the new standard effective May 1, 2018 using the modified retrospective approach. Refer to the Revenues section below for information regarding the impact of adopting the standard on our condensed consolidated financial statements. ASU 2018-10, Codification Improvements to Topic 842, Leases This ASU was issued to increase shareholders' awareness of narrow aspects of the guidance issued in the amendments and to expedite the improvements under ASU 2016-02. This ASU is effective for annual reporting periods beginning after December 15, 2018. Early adoption is permitted. The adoption of this standard will not have a material impact on our consolidated financial statements. Standard Description Date of Adoption Effect on the Financial Statements or Other Significant Matters ASU 2018-11, Leases: Targeted Improvements This ASU allows lessors to account for lease and non-lease components, by class of underlying assets, as a single lease component if certain criteria are met. The new standard also indicates that companies are permitted to recognize a cumulative-effect adjustment to the opening balance of retained earnings in the period of adoption in lieu of the modified retrospective approach and provides other practical expedients. This ASU is effective for annual reporting periods beginning after December 15, 2018. Early adoption is permitted. The adoption of this standard will not have a material impact on our consolidated financial statements. ASU 2018-13, Fair Value Measurements (Topic 820) - Disclosure Framework - Changes to the Disclosure Requirement for Fair Value Measurements This ASU eliminates certain disclosure requirements affecting all levels of measurement, and modifies and adds new disclosure requirements for Level 3 measurements. This ASU is effective for annual reporting periods beginning after December 15, 2019. Early adoption is permitted. We are currently evaluating the impact the new standard may have on our disclosures. ASU 2018-15, Intangibles - Goodwill and Other - Internal-Use Software (Topic 350-40): Customer's Accounting for Implementation Costs Incurred in a Cloud Computing Arrangement That is a Service Contract This ASU reduces the complexity for the accounting for costs of implementing a cloud computing service arrangement. The standard aligns various requirements for capitalizing implementation costs. This ASU is effective for annual reporting periods beginning after December 15, 2019. Early adoption is permitted. We are currently evaluating the impact the new standard may have on our consolidated financial statements. ASU 2018-20, Leases (Topic 842) - Narrow-Scope Improvements for Lessors This ASU reduces a lessor's implementation and ongoing costs associated with applying the new leases standard. The ASU also clarifies a specific lessor accounting requirements. This ASU is effective for annual reporting periods beginning after December 15, 2018. Early adoption is permitted. The adoption of this standard will not have a material impact on our consolidated financial statements. We revised our consolidated statements of cash flows for the years ended April 30, 2018 , 2017, and 2016 to conform to this presentation, and the effect of the revisions to net cash flows from operating and investing activities as previously reported for the years ended April 30, 2018, 2017, and 2016 are summarized in the following table: (in thousands) As previously reported Impact of ASUs As adjusted and currently reported April 30, 2018 2016-15 and 2016-18 April 30, 2018 Net cash provided by operating activities $ 48,035 $ 7,160 $ 55,195 Net cash provided by (used by) investing activities 104,189 (24,077 ) 80,112 Net cash provided by (used by) financing activities (169,152 ) (6,839 ) (175,991 ) Net increase (decrease) in cash, cash equivalents (16,928 ) 16,928 — Net increase (decrease) in cash, cash equivalents, and restricted cash — (40,684 ) (40,684 ) Cash and cash equivalents at beginning of period 28,819 (28,819 ) — Cash, cash equivalents, and restricted cash at beginning of period — 56,800 56,800 Cash and cash equivalents at end of period $ 11,891 Cash, cash equivalents, and restricted cash at end of period $ 4,225 $ 16,116 (in thousands) As previously reported Impact of ASUs As adjusted and currently reported April 30, 2017 2016-15 and 2016-18 April 30, 2017 Net cash provided by operating activities $ 73,930 $ 5,122 $ 79,052 Net cash provided by (used by) investing activities 202,263 21,897 224,160 Net cash provided by (used by) financing activities (314,072 ) (3,848 ) (317,920 ) Net increase (decrease) in cash, cash equivalents (37,879 ) 37,879 — Net increase (decrease) in cash, cash equivalents, and restricted cash — (14,708 ) (14,708 ) Cash and cash equivalents at beginning of period 66,698 (66,698 ) — Cash, cash equivalents, and restricted cash at beginning of period — 71,508 71,508 Cash and cash equivalents at end of period $ 28,819 Cash, cash equivalents, and restricted cash at end of period $ 27,981 $ 56,800 (in thousands) As previously reported Impact of ASUs As adjusted and currently reported April 30, 2016 2016-15 and 2016-18 April 30, 2016 Net cash provided by operating activities $ 66,493 $ 5,768 $ 72,261 Net cash provided by (used by) investing activities 134,252 (5,700 ) 128,552 Net cash provided by (used by) financing activities (183,017 ) (6,321 ) (189,338 ) Net increase (decrease) in cash, cash equivalents 17,728 (17,728 ) — Net increase (decrease) in cash, cash equivalents, and restricted cash — 11,475 11,475 Cash and cash equivalents at beginning of period 48,970 (48,970 ) — Cash, cash equivalents, and restricted cash at beginning of period — 60,033 60,033 Cash and cash equivalents at end of period $ 66,698 Cash, cash equivalents, and restricted cash at end of period $ 4,810 $ 71,508
Disaggregation of Revenue	The following table presents the disaggregation of revenue streams of our rental income for the transition period ended December 31, 2018 : (in thousands, except percentages) Eight Months Ended December 31, 2018 Revenue Stream Applicable Standard Amount of Revenue Percent of Revenue Rental revenue Leases $ 117,575 96.5 % Other property revenue Revenue Recognition 4,296 3.5 % $ 121,871 100.0 %
Schedule of Other Assets	As of December 31, 2018 , April 30, 2018 , and April 30, 2017 , other assets consisted of the following amounts: in thousands December 31, 2018 April 30, 2018 April 30, 2017 Receivable arising from straight line rents $ 1,145 $ 1,458 $ 2,145 Accounts receivable, net of allowance 71 81 476 Fair value of interest rate swaps 818 1,779 — Loans receivable 16,399 15,480 — Prepaid and other assets 3,802 5,334 4,891 Intangible assets 498 1,469 202 Property and equipment, net of accumulated depreciation 686 820 901 Goodwill 1,546 1,553 1,572 Deferred charges and leasing costs 2,300 2,323 3,119 Total Other Assets $ 27,265 $ 30,297 $ 13,306
Restrictions on Cash and Cash Equivalents	(in thousands) Balance sheet description December 31, 2018 April 30, 2018 April 30, 2017 Cash and cash equivalents $ 13,792 $ 11,891 $ 28,819 Restricted cash 5,464 4,225 27,981 Total cash, cash equivalents and restricted cash $ 19,256 $ 16,116 $ 56,800
Schedule of Cash and Cash Equivalents	(in thousands) Balance sheet description December 31, 2018 April 30, 2018 April 30, 2017 Cash and cash equivalents $ 13,792 $ 11,891 $ 28,819 Restricted cash 5,464 4,225 27,981 Total cash, cash equivalents and restricted cash $ 19,256 $ 16,116 $ 56,800

NONCONTROLLING INTERESTS (Table

NONCONTROLLING INTERESTS (Tables)	8 Months Ended
	Dec. 31, 2018
Noncontrolling Interest [Abstract]
Schedule of Noncontrolling Interests - Consolidated Real Estate Entities	Our noncontrolling interests – consolidated real estate entities at December 31, 2018 , April 30, 2018 , and 2017 were as follows: (in thousands) December 31, 2018 April 30, 2018 April 30, 2017 IRET - 71 France, LLC $ 5,918 $ 6,606 $ 7,427 IRET - Cypress Court Apartments, LLC 829 890 979 IRET - Williston Garden Apartments, LLC — 1,635 1,057 IRET - WRH 1, LLC — (467 ) (619 ) WRH Holding, LLC — 224 360 Noncontrolling interests – consolidated real estate entities $ 6,747 $ 8,888 $ 9,204

REDEEMABLE NONCONTROLLING INT_2

REDEEMABLE NONCONTROLLING INTERESTS (Tables)	8 Months Ended
	Dec. 31, 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) Transition period ended Years ended April 30, December 31, 2018 2018 2017 2016 Balance at beginning of fiscal year $ 6,644 $ 7,117 $ 7,522 $ 6,368 Contributions — 268 17 1,120 Net (loss) income (676 ) (741 ) (422 ) 34 Balance at close of fiscal year $ 5,968 $ 6,644 $ 7,117 $ 7,522

DEBT (Tables)

DEBT (Tables)	8 Months Ended
	Dec. 31, 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 and term loans as of December 31, 2018 is as follows: (in thousands) 2019 $ 28,587 2020 87,592 2021 104,553 2022 40,917 2023 48,546 Thereafter 280,779 Total payments $ 590,974
Summary of Indebtedness	The following table summarizes our indebtedness at December 31, 2018 : (in thousands) December 31, 2018 April 30, 2018 April 30, 2017 Weighted Average Maturity in Years Unsecured line of credit $ 57,500 $ 124,000 $ 57,050 3.67 Term loans 145,000 70,000 — 5.86 Unsecured debt 202,500 194,000 57,050 Mortgages payable - fixed (1) 445,974 489,401 629,535 3.61 Mortgages payable - variable (1) — 22,739 57,708 Construction debt - variable — — 41,737 Total debt $ 648,474 $ 706,140 $ 786,030 Weighted average interest rate on unsecured line of credit 3.72 % 3.35 % 2.67 % Weighted average interest rate on term loans (rate with swaps) 4.01 % 3.86 % — Weighted average interest rate on mortgages payable (1) 4.58 % 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 INSTRUMENTS (Tables)

DERIVATIVE INSTRUMENTS (Tables)	8 Months Ended
	Dec. 31, 2018
Derivative Instruments and Hedging Activities Disclosure [Abstract]
Schedule of Derivative Assets at Fair Value	The table below presents the fair value of our derivative financial instruments as well as their classification on our Consolidated Balance Sheets as of December 31, 2018, April 30, 2018 and April 30, 2017. (in thousands) (in thousands) December 31, 2018 April 30, 2018 April 30, 2017 December 31, 2018 April 30, 2018 April 30, 2017 Balance Sheet Location Fair Value Fair Value Fair Value Balance Sheet Location Fair Value Fair Value Fair Value Derivative instruments - interest rate swaps Other Assets $ 818 $ 1,779 — Accounts Payable and Accrued Expenses $ 1,675 — — Total derivatives designated as hedging instruments $ 818 $ 1,779 — $ 1,675 — —
Schedule of Cash Flow Hedges Included in Accumulated Other Comprehensive Income (Loss)	The table below presents the effect of the Company's derivative financial instruments on the Consolidated Statements of Operations as of December 31, 2018 and April 30, 2018 . (in thousands) Gain (Loss) Recognized in OCI Location of Gain (Loss) Reclassified from Accumulated OCI into Income Gain (Loss) Reclassified from Accumulated OCI into Income Transition Period Ended December 31, Year Ended April 30, Transition Period Ended December 31, Year Ended April 30, 2018 2018 2017 2018 2018 2017 Interest rate contracts $ (2,794 ) $ 1,627 — Interest expense $ (159 ) $ (152 ) — Total derivatives in cash flow hedging relationships $ (2,794 ) $ 1,627 — $ (159 ) $ (152 ) —

ACQUISITIONS, DEVELOPMENT PRO_2

ACQUISITIONS, DEVELOPMENT PROJECTS PLACED IN SERVICE AND DISPOSITIONS (Tables)	8 Months Ended
	Dec. 31, 2018
Business Combinations [Abstract]
Acquisitions	Our acquisitions during fiscal year ended April 30, 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 dispositions for the transition period ended December 31, 2018 and fiscal years ended April 30, 2018 and 2017 are detailed below. Transition Period Ended December 31, 2018 ( May 1, 2018 to December 31, 2018 ) (in thousands) Date Book Value Dispositions Disposed Sales Price and Sale Cost Gain/(Loss) Multifamily 44 unit - Dakota Commons - Williston, ND July 26, 2018 $ 4,420 $ 3,878 $ 542 145 unit - Williston Garden - Williston, ND (1) July 26, 2018 12,310 11,313 997 288 unit - Renaissance Heights - Williston, ND (2) July 26, 2018 24,770 17,856 6,914 41,500 33,047 8,453 Other 7,849 sq ft Minot Southgate Retail - Minot, ND July 12, 2018 1,925 2,056 (131 ) 9,052 sq ft Fresenius - Duluth, MN July 27, 2018 1,900 1,078 822 15,000 sq ft Minot 2505 16th St SW - Minot, ND October 12, 2018 1,710 1,814 (104 ) 81,594 sq ft Minot Arrowhead - Minot, ND November 30, 2018 6,622 5,907 715 100,850 sq ft Bloomington 2000 W 94th Street - Bloomington, MN December 19, 2018 4,550 4,550 — 16,707 15,405 1,302 Unimproved Land Grand Forks - Grand Forks, ND July 16, 2018 3,000 2,986 14 Renaissance Heights - Williston, ND (3) July 26, 2018 750 684 66 Badger Hills Unimproved - Rochester, MN August 29, 2018 1,400 1,528 (128 ) 5,150 5,198 (48 ) Total Property Dispositions $ 63,357 $ 53,650 $ 9,707 (1) This apartment community was owned by a joint venture entity in which we had an interest of approximately 74.11% . (2) This apartment community was owned by a joint venture entity in which we had an interest of approximately 87.14% . (3) This parcel of land was owned by a joint venture entity in which we had an interest of approximately 70.00% 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 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) 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. 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)	8 Months Ended
	Dec. 31, 2018
Segment Reporting [Abstract]
Revenues and Net Operating Income for Reportable Segments	The following tables present net operating income for the transition period ended December 31, 2018 and 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) Transition period ended December 31, 2018 Multifamily All Other Total Revenue $ 116,138 $ 5,733 $ 121,871 Property operating expenses, including real estate taxes 48,896 1,823 50,719 Net operating income $ 67,242 $ 3,910 $ 71,152 Property management expenses (3,663 ) Casualty loss (915 ) Depreciation and amortization (50,456 ) Impairment of real estate investments (1,221 ) General and administrative expenses (9,812 ) Interest expense (21,359 ) Loss on debt extinguishment (556 ) Interest and other income 1,233 Income (loss) before gain on sale of real estate and other investments and income (loss) from discontinued operations (15,597 ) Gain (loss) on sale of real estate and other investments 9,707 Gain (loss) from continuing operations (5,890 ) Income (loss) from discontinued operations 570 Net income (loss) $ (5,320 ) (in thousands) Year ended April 30, 2018 Multifamily All Other Total Revenue $ 159,983 $ 9,762 $ 169,745 Property operating expenses, including real estate taxes 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 Income (loss) before gain on sale of real estate and other investments and income (loss) from discontinued operations (57,314 ) Gain (loss) on sale of real estate and other investments 20,120 Gain (loss) from continuing operations (37,194 ) Income (loss) from discontinued operations 164,823 Net income (loss) $ 127,629 (in thousands) Year ended April 30, 2017 Multifamily All Other Total Revenue $ 142,214 $ 17,890 $ 160,104 Property operating expenses, including real estate taxes 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 Income (loss) before gain on sale of real estate and other investments (64,929 ) Gain (loss) on sale of real estate and other investments 18,701 Income (loss) from continuing operations (46,228 ) Income (loss) from discontinued operations 76,753 Net income (loss) $ 30,525 (in thousands) Year ended April 30, 2016 Multifamily All Other Total Revenue $ 129,049 $ 16,451 $ 145,500 Property operating expenses, including real estate taxes 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 Income (loss) before loss on sale of real estate and other investments and income (loss) from discontinued operations (3,882 ) Gain (loss) on sale of real estate and other investments 9,640 Gain (loss) on bargain purchase 3,424 Income (loss) from continuing operations 9,182 Income (loss) from discontinued operations 67,420 Net income (loss) $ 76,602
Segment Assets and Accumulated Depreciation	Segment Assets and Accumulated Depreciation (in thousands) As at December 31, 2018 Multifamily All Other Total Segment assets Property owned $ 1,582,917 $ 44,719 $ 1,627,636 Less accumulated depreciation (340,081 ) (13,790 ) (353,871 ) Total property owned $ 1,242,836 $ 30,929 $ 1,273,765 Cash and cash equivalents 13,792 Restricted cash 5,464 Other assets 27,265 Unimproved land 5,301 Mortgage loans receivable 10,410 Total Assets $ 1,335,997 (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)	8 Months Ended
	Dec. 31, 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 transition period ended December 31, 2018 and the fiscal years ended April 30, 2018 , 2017 , and 2016 . (in thousands) Period Ended Year Ended December 31, 2018 April 30, 2018 April 30, 2017 April 30, 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 (loss) — 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 (loss) from discontinued operations before gain on sale — 1,256 20,607 43,638 Gain (loss) on sale of discontinued operations 570 163,567 56,146 23,782 INCOME (LOSS) FROM DISCONTINUED OPERATIONS $ 570 $ 164,823 $ 76,753 $ 67,420 Segment Data All other $ 570 $ 164,823 $ 76,753 $ 67,420 Total $ 570 $ 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) Period Ended Year Ended 12/31/2018 April 30, 2018 April 30, 2017 April 30, 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 at April 30, 2017: 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)	8 Months Ended
	Dec. 31, 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 transition period ended December 31, 2018 and the fiscal years ended April 30, 2018 , 2017 , and 2016 : (in thousands, except per share data) For Period Ended For Year Ended April 30, December 31, 2018 April 30, 2018 April 30, 2017 April 30, 2016 NUMERATOR Income (loss) from continuing operations – controlling interests $ (4,908 ) $ (30,266 ) $ (24,473 ) $ 11,553 Income (loss) from discontinued operations – controlling interests 510 147,054 67,820 60,453 Net income (loss) attributable to controlling interests (4,398 ) 116,788 43,347 72,006 Dividends to preferred shareholders (4,547 ) (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 (8,945 ) 104,562 31,366 60,492 Noncontrolling interests – Operating Partnership (1,032 ) 12,702 4,059 7,032 Numerator for diluted earnings per share $ (9,977 ) $ 117,264 $ 35,425 $ 67,524 DENOMINATOR Denominator for basic earnings per share weighted average shares 11,937 119,977 121,169 123,094 Effect of redeemable operating partnership units 1,387 14,617 16,130 14,278 Denominator for diluted earnings per share 13,324 134,594 137,299 137,372 Earnings (loss) per common share from continuing operations – basic and diluted $ (0.79 ) $ (3.54 ) $ (3.01 ) $ — Earnings (loss) per common share from discontinued operations – basic and diluted 0.04 12.25 5.59 4.91 NET EARNINGS (LOSS) PER COMMON SHARE – BASIC & DILUTED $ (0.75 ) $ 8.71 $ 2.58 $ 4.91

FAIR VALUE MEASUREMENTS (Tables

FAIR VALUE MEASUREMENTS (Tables)	8 Months Ended
	Dec. 31, 2018
Fair Value Disclosures [Abstract]
Schedule of Fair Value Measurements on a Nonrecurring Basis	The aggregate fair value of these assets by their levels in the fair value hierarchy are as follows: (in thousands) Total Level 1 Level 2 Level 3 December 31, 2018 Real estate investments valued at fair value $ 3,049 — — $ 3,049 April 30, 2018 Real estate investments valued at fair value $ 52,145 — — $ 52,145 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 December 31, 2018, April 30, 2018 and April 30, 2017 are as follows: (in thousands) 12/31/2018 4/30/2018 4/30/2017 Amount Fair Value Amount Fair Value Amount Fair Value FINANCIAL ASSETS Cash and cash equivalents $ 13,792 $ 13,792 $ 11,891 $ 11,891 $ 28,819 $ 28,819 Mortgage and note receivables 26,809 26,809 25,809 25,809 — — FINANCIAL LIABILITIES Other debt, including other debt related to assets held for sale — — — — 49,637 49,637 Revolving line of credit 57,500 57,500 124,000 124,000 57,050 57,050 Term loan A (1) 70,000 70,000 70,000 70,000 — — Term loan B (1) 75,000 75,000 — — — — Mortgages payable (2) 445,974 444,241 509,919 510,803 665,440 680,941 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 SHAREHOLDE

SHAREHOLDERS’ EQUITY SHAREHOLDERS' EQUITY (Tables)	8 Months Ended
	Dec. 31, 2018
Equity [Abstract]
Schedule of Conversions of Stock	Pursuant to the exercise of Exchange Rights, we redeemed Units during the transition period ended December 31, 2018 and the fiscal years ended April 30, 2018 and 2017 as detailed in the table below. (in thousands, except per Unit amounts) Number of Aggregate Average Price Units Cost Per Unit Transition Period Ended December 31, 2018 9 $ 499 $ 53.12 Fiscal Year Ended April 30, 2018 149 8,775 58.90 Fiscal Year Ended April 30, 2017 17 966 58.40 We also redeemed Units in exchange for common shares during the transition period ended December 31, 2018 and the fiscal years ended April 30, 2018 and April 30, 2017 as detailed in the table below. (in thousands) Number of Total Book Units Value Transition Period Ended December 31, 2018 33 $ 649 Fiscal Year Ended April 30, 2018 3 34 Fiscal Year Ended April 30, 2017 50 875

QUARTERLY RESULTS OF CONSOLID_2

QUARTERLY RESULTS OF CONSOLIDATED OPERATIONS (unaudited) (Tables)	8 Months Ended
	Dec. 31, 2018
Selected Quarterly Financial Information [Abstract]
Schedule of Quarterly Results of Consolidation Operations	(in thousands, except per share data) QUARTER ENDED July 31, 2018 October 31, 2018 Two Months Ended December 31, 2018 Revenues $ 45,946 $ 45,638 $ 30,287 Net income (loss) attributable to controlling interest $ 2,916 $ (4,558 ) $ (2,756 ) Net income (loss) available to common shareholders $ 1,211 $ (6,264 ) $ (3,892 ) Net income (loss) per common share - basic & diluted $ 0.10 $ (0.52 ) $ (0.33 ) (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 controlling interests $ (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 $ (1.12 ) $ 0.53 $ 11.22 $ (1.89 ) (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 controlling interests $ (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 $ (2.02 ) $ 0.72 $ 1.58 $ 2.33

SHARE BASED COMPENSATION (Table

SHARE BASED COMPENSATION (Tables)	8 Months Ended
	Dec. 31, 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 transition period ended December 31, 2018 and the three years ended April 30, 2018 , for all share-based awards was as follows (in thousands): Transition Period Ended Fiscal Year Ended April 30, December 31, 2018 2018 2017 2016 Share based compensation expense $ 845 $ 1,587 $ 6 $ 2,256
Schedule of Restricted Share Awards Activity	The activity for the transition period ended December 31, 2018 and the three years ended April 30, 2018 , 2017, and 2016, related to our restricted share awards was as follows: Awards with Service Conditions Wtd Avg Grant- Shares Date Fair Value Unvested at April 30, 2015 10,754 $ 71.70 Granted — — Vested (10,754 ) 71.70 Unvested at April 30, 2016 — Granted 25,326 61.59 Vested (2,132 ) 59.50 Forfeited (3,683 ) 62.40 Unvested at April 30, 2017 19,511 Granted 9,136 57.55 Vested (18,545 ) 59.89 Forfeited (202 ) 62.40 Unvested at April 30, 2018 9,900 Granted — — Vested (2,709 ) 63.21 Forfeited — — Unvested at December 31, 2018 7,191 $ 60.49 The activity for the transition period ended December 31, 2018 and the three years ended April 30, 2018 , related to our RSUs was as follows: RSUs with Service Conditions RSUs with Market Conditions Wtd Avg Grant- Wtd Avg Grant- Shares Date Fair Value Shares Date Fair Value Unvested at April 30, 2017 — — Granted 6,994 $ 60.54 11,538 $ 70.90 Vested (207 ) 50.30 — Forfeited — — Unvested at April 30, 2018 6,787 60.85 11,538 70.90 Granted 14,878 53.60 15,461 57.70 Vested (2,943 ) 60.83 — — Forfeited (462 ) 53.60 (1,680 ) 70.90 Unvested at December 31, 2018 18,260 $ 55.13 25,319 $ 62.84

ORGANIZATION (Details)

ORGANIZATION (Details)	Dec. 31, 2018propertyunit
Real Estate Properties [Line Items]
Number of real estate properties	87
Multi-family Residential Properties
Real Estate Properties [Line Items]
Number of real estate properties	87
Number of apartment homes | unit	13,702

BASIS OF PRESENTATION AND SIG_4

BASIS OF PRESENTATION AND SIGNIFICANT ACCOUNTING POLICIES - Narrative (Details)	Dec. 14, 2018	Apr. 30, 2017USD ($)shares	Aug. 31, 2017property	Dec. 31, 2018USD ($)$ / sharesshares	Oct. 31, 2018USD ($)$ / shares	Jul. 31, 2018USD ($)$ / shares	Apr. 30, 2018USD ($)$ / sharesshares	Jan. 31, 2018USD ($)$ / shares	Oct. 31, 2017USD ($)$ / shares	Jul. 31, 2017USD ($)$ / shares	Apr. 30, 2017USD ($)$ / sharesshares	Jan. 31, 2017USD ($)$ / shares	Oct. 31, 2016USD ($)$ / shares	Jul. 31, 2016USD ($)$ / shares	Dec. 31, 2018USD ($)property$ / sharesshares	Dec. 31, 2017USD ($)$ / shares	Dec. 31, 2018USD ($)shares	Apr. 30, 2018USD ($)property$ / sharesshares	Dec. 31, 2017	Apr. 30, 2017USD ($)property$ / sharesshares	Dec. 31, 2016	Apr. 30, 2016USD ($)property$ / sharesshares	Dec. 31, 2018USD ($)shares	Dec. 27, 2018shares	Dec. 26, 2018shares
BASIS OF PRESENTATION [Abstract]
Interest in operating partnership (in hundredths)		88.60%		89.70%			89.40%				88.60%				89.70%		89.70%	89.40%		88.60%			89.70%
Percentage of general interest partnership (in hundredths)		100.00%		100.00%			100.00%				100.00%				100.00%		100.00%	100.00%		100.00%			100.00%
Reverse stock split, conversion ratio	0.10
Common Shares of Beneficial Interest, shares issued (in shares) | shares		12,119,930		11,942,372			11,952,598				12,119,930				11,942,372		11,942,372	11,952,598		12,119,930			11,942,372	11,900,000	119,400,000
Reverse stock split, units (in shares) | shares																								1,400,000	13,700,000
REAL ESTATE INVESTMENTS [Abstract]
Real estate investments		$ 1,121,385,000		$ 1,289,476,000			$ 1,380,245,000				$ 1,121,385,000				$ 1,289,476,000		$ 1,289,476,000	$ 1,380,245,000		$ 1,121,385,000			$ 1,289,476,000
Construction period interest capitalized															0			4,000		431,000		$ 4,900,000
IMPAIRMENT OF LONG-LIVED ASSETS [Abstract]
Impairment of real estate investments															1,221,000			18,065,000		57,028,000		5,983,000
CHANGE IN DEPRECIABLE LIVES OF REAL ESTATE ASSETS [Abstract]
Net income				$ (3,892,000)	$ (6,264,000)	$ 1,211,000	$ (22,579,000)	$ 134,331,000	$ 6,360,000	$ (13,550,000)	$ 27,994,000	$ 19,172,000	$ 8,722,000	$ (24,522,000)	$ (8,945,000)	$ 117,461,000		$ 104,562,000		$ 31,366,000		$ 60,492,000
Net income (loss) per common share - basic & diluted (in dollars per share) | $ / shares				$ (0.33)	$ (0.52)	$ 0.10	$ (1.89)	$ 11.22	$ 0.53	$ (1.12)	$ 2.33	$ 1.58	$ 0.72	$ (2.02)	$ (0.75)	$ 9.78		$ 8.71		$ 2.58		$ 4.91
HELD FOR SALE [Abstract]
Number of year after date of acquisition related to adjustment of real estate preliminary allocations of purchase price															1 year
RESTRICTED CASH [Abstract]
Restricted cash		27,981,000		$ 5,464,000			$ 4,225,000				$ 27,981,000				$ 5,464,000		5,464,000	$ 4,225,000		$ 27,981,000			5,464,000
PROPERTY AND EQUIPMENT [Abstract]
Property and equipment cost		2,100,000		2,200,000			2,100,000				2,100,000				2,200,000		2,200,000	2,100,000		2,100,000			2,200,000
Accumulated depreciation		$ 1,200,000		1,400,000			1,300,000				$ 1,200,000				$ 1,400,000		$ 1,400,000	$ 1,300,000		$ 1,200,000			1,400,000
INCOME TAXES [Abstract]
Minimum dividend distribution percentage															90.00%
Dividend distribution percentage (in hundredths)															90.00%			90.00%		90.00%		90.00%
Distribution of federal income tax (in hundredths)																	100.00%		14.59%		12.43%
Distribution of capital gain (in hundredths)																			48.87%		87.57%
Distribution made as return of capital (in hundredths)																			36.54%
MORTGAGE LOANS RECEIVABLE AND NOTES RECEIVABLE [Abstract]
Number of real estate properties sold | property																		28
Mortgage loans receivable				10,400,000			11,000,000								$ 10,400,000		$ 10,400,000	$ 11,000,000					$ 10,400,000
Interest income															1,168,000	$ 432,000		1,197,000		$ 366,000		$ 78,000
Proceeds from collection of loans receivable															545,000			0		0		0
GAIN ON BARGAIN PURCHASE [Abstract]
Gain on bargain purchase															$ 0	$ 0		$ 0		0		$ 3,424,000
Buildings and Improvements | Minimum
REAL ESTATE INVESTMENTS [Abstract]
Estimated useful life of assets (in years)															10 years
Buildings and Improvements | Maximum
REAL ESTATE INVESTMENTS [Abstract]
Estimated useful life of assets (in years)															37 years
Furniture, Fixtures and Equipment | Minimum
REAL ESTATE INVESTMENTS [Abstract]
Estimated useful life of assets (in years)															5 years
Furniture, Fixtures and Equipment | Maximum
REAL ESTATE INVESTMENTS [Abstract]
Estimated useful life of assets (in years)															10 years
Renovations and Improvements | Minimum
REAL ESTATE INVESTMENTS [Abstract]
Estimated useful life of assets (in years)															5 years
Renovations and Improvements | Maximum
REAL ESTATE INVESTMENTS [Abstract]
Estimated useful life of assets (in years)															10 years
Minot, ND - property
IMPAIRMENT OF LONG-LIVED ASSETS [Abstract]
Impairment of real estate investments																				$ 2,900,000
Multi-family Residential Properties
IMPAIRMENT OF LONG-LIVED ASSETS [Abstract]
Number of impaired properties | property																		1		16
Multi-family Residential Properties | Grand Forks, North Dakota
IMPAIRMENT OF LONG-LIVED ASSETS [Abstract]
Impairment of real estate investments																		$ 12,200,000
Multi-family Residential Properties | Williston, ND - property
IMPAIRMENT OF LONG-LIVED ASSETS [Abstract]
Number of impaired properties | property																				3
Multi-family Residential Properties | Williston, ND - property 1
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 | Williston, ND - property 2
IMPAIRMENT OF LONG-LIVED ASSETS [Abstract]
Impairment of real estate investments																				$ 5,800,000
Multi-family Residential Properties | Williston, ND - property 3
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
IMPAIRMENT OF LONG-LIVED ASSETS [Abstract]
Number of impaired properties | property																		3
Land
IMPAIRMENT OF LONG-LIVED ASSETS [Abstract]
Number of impaired properties | property																		4		2		2
Land | Grand Forks, North Dakota
IMPAIRMENT OF LONG-LIVED ASSETS [Abstract]
Impairment of real estate investments																		$ 1,500,000
Land | Minot, ND - property
IMPAIRMENT OF LONG-LIVED ASSETS [Abstract]
Number of impaired properties | property																				1
Land | Bismark, North Dakota - First Property
IMPAIRMENT OF LONG-LIVED ASSETS [Abstract]
Impairment of real estate investments																		$ 256,000
Land | Bismark, North Dakota
IMPAIRMENT OF LONG-LIVED ASSETS [Abstract]
Number of impaired properties | property																		2
Land | Bismark, North Dakota - Second Property
IMPAIRMENT OF LONG-LIVED ASSETS [Abstract]
Impairment of real estate investments																		$ 709,000
Land | Williston, ND - property
IMPAIRMENT OF LONG-LIVED ASSETS [Abstract]
Impairment of real estate investments																		428,000		$ 2,800,000
Number of impaired properties | property																				1
Interest in joint venture		70.00%									70.00%									70.00%
Land | River Falls Wisconsin
IMPAIRMENT OF LONG-LIVED ASSETS [Abstract]
Impairment of real estate investments																						$ 162,000
Industrial | Bloomington, Minnesota
IMPAIRMENT OF LONG-LIVED ASSETS [Abstract]
Impairment of real estate investments																		1,400,000
Industrial | Woodbury, Minnesota
IMPAIRMENT OF LONG-LIVED ASSETS [Abstract]
Impairment of real estate investments																		922,000
Retail Site | Minot, ND - property
IMPAIRMENT OF LONG-LIVED ASSETS [Abstract]
Impairment of real estate investments																		$ 630,000
Office
IMPAIRMENT OF LONG-LIVED ASSETS [Abstract]
Number of impaired properties | property																						1
Commercial Healthcare
IMPAIRMENT OF LONG-LIVED ASSETS [Abstract]
Number of impaired properties | property																						1
Multi-Family Residential
IMPAIRMENT OF LONG-LIVED ASSETS [Abstract]
Number of impaired properties | property																						8
MORTGAGE LOANS RECEIVABLE AND NOTES RECEIVABLE [Abstract]
Interest rate on mortgages payable						6.00%
Loan commitment										$ 16,200,000
Multi-Family Residential | St Cloud Minnesota
IMPAIRMENT OF LONG-LIVED ASSETS [Abstract]
Impairment of real estate investments																						$ 1,900,000
Number of impaired properties | property																						8
Office Property | Eden Prairie Minnesota
IMPAIRMENT OF LONG-LIVED ASSETS [Abstract]
Impairment of real estate investments																						$ 440,000
Assets Held for Sale
HELD FOR SALE [Abstract]
Number of real estate properties classified as held for sale | property															0			0
Assets Held for Sale | Multi-family Residential Properties
HELD FOR SALE [Abstract]
Number of real estate properties classified as held for sale | property																				13
Assets Held for Sale | Multi-family Residential Properties | Minot, ND - property
IMPAIRMENT OF LONG-LIVED ASSETS [Abstract]
Number of impaired properties | property																				13
Assets Held for Sale | Retail Site
HELD FOR SALE [Abstract]
Number of real estate properties classified as held for sale | property																				2
Assets Held for Sale | Commercial Healthcare
HELD FOR SALE [Abstract]
Number of real estate properties classified as held for sale | property																				2
Assets Held for Sale | Medical Property | Sartell, Minnesota, Healthcare Property
IMPAIRMENT OF LONG-LIVED ASSETS [Abstract]
Impairment of real estate investments																						1,900,000
Discontinued Operations
IMPAIRMENT OF LONG-LIVED ASSETS [Abstract]
Impairment of real estate investments																						440,000
Discontinued Operations | Land | Grand Chute, Wisconsin, Unimproved Land
IMPAIRMENT OF LONG-LIVED ASSETS [Abstract]
Impairment of real estate investments																						1,600,000
Discontinued Operations, Disposed of by Sale
MORTGAGE LOANS RECEIVABLE AND NOTES RECEIVABLE [Abstract]
Interest income															$ 0			$ 661,000		$ 2,179,000		2,179,000
Discontinued Operations, Disposed of by Sale | Multi-Family Residential
MORTGAGE LOANS RECEIVABLE AND NOTES RECEIVABLE [Abstract]
Number of real estate properties sold | property			13												13
Interest rate on mortgages payable			5.50%
Interest income															$ 448,000			372,000
Number of real estate properties released | property															1
Service Life
CHANGE IN DEPRECIABLE LIVES OF REAL ESTATE ASSETS [Abstract]
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 | Minimum
CHANGE IN DEPRECIABLE LIVES OF REAL ESTATE ASSETS [Abstract]
Useful life		20 years																					10 years
Service Life | Maximum
CHANGE IN DEPRECIABLE LIVES OF REAL ESTATE ASSETS [Abstract]
Useful life		40 years																					37 years
Service Life | Property With Previous Nine Year Life
CHANGE IN DEPRECIABLE LIVES OF REAL ESTATE ASSETS [Abstract]
Useful life		9 years
Service Life | Property With Previous Nine Year Life | Minimum
CHANGE IN DEPRECIABLE LIVES OF REAL ESTATE ASSETS [Abstract]
Useful life																							5 years
Service Life | Property With Previous Nine Year Life | Maximum
CHANGE IN DEPRECIABLE LIVES OF REAL ESTATE ASSETS [Abstract]
Useful life																							10 years
Escrow Deposits
RESTRICTED CASH [Abstract]
Restricted cash		$ 4,300,000		$ 5,500,000			$ 4,200,000				$ 4,300,000				$ 5,500,000		$ 5,500,000	$ 4,200,000		4,300,000			$ 5,500,000
Tax-Deferred Exchange Proceeds
RESTRICTED CASH [Abstract]
Restricted cash		$ 23,700,000									$ 23,700,000									$ 23,700,000
187 unit - Avalon Cove - Rochester, MN
GAIN ON BARGAIN PURCHASE [Abstract]
Total acquisition costs																						36,300,000
Form of consideration, cash																						$ 15,000,000
Shares exchanged (in shares) | shares																						250,000
Shares exchanged																						$ 17,800,000
Share price (in dollars per share) | $ / shares																						$ 70.90
Gain on bargain purchase																						$ 3,400,000

BASIS OF PRESENTATION AND SIG_5

BASIS OF PRESENTATION AND SIGNIFICANT ACCOUNTING POLICIES - Adoption of ASU 2016-15 (Details) - USD ($) $ in Thousands	Dec. 31, 2018	Apr. 30, 2018	Apr. 30, 2017	Apr. 30, 2016	Apr. 30, 2015
New Accounting Pronouncements or Change in Accounting Principle [Line Items]
Common shares of beneficial interest	$ 899,234	$ 900,097	$ 908,905
Noncontrolling interests – consolidated real estate entities	6,747	8,888	9,204
Redeemable noncontrolling interests - consolidated real estate entities	5,968	6,644	7,117
Total equity	643,449	687,563	636,158	$ 718,262	$ 740,954
Previously Reported
New Accounting Pronouncements or Change in Accounting Principle [Line Items]
Common shares of beneficial interest		907,843	916,121
Noncontrolling interests – consolidated real estate entities		1,078	1,924
Redeemable noncontrolling interests - consolidated real estate entities		6,708	7,181
Restatement Adjustment
New Accounting Pronouncements or Change in Accounting Principle [Line Items]
Common shares of beneficial interest		(7,746)	(7,216)
Noncontrolling interests – consolidated real estate entities		7,810	7,280
Redeemable noncontrolling interests - consolidated real estate entities		(64)	(64)
Common Stock
New Accounting Pronouncements or Change in Accounting Principle [Line Items]
Total equity	899,234	900,097	908,905	922,084	951,868
Common Stock | Previously Reported
New Accounting Pronouncements or Change in Accounting Principle [Line Items]
Total equity		907,843	916,121
Common Stock | Restatement Adjustment
New Accounting Pronouncements or Change in Accounting Principle [Line Items]
Total equity		(7,746)	(7,216)
Noncontrolling Interest
New Accounting Pronouncements or Change in Accounting Principle [Line Items]
Total equity	$ 74,663	81,900	82,437	$ 99,504	$ 88,844
Noncontrolling Interest | Previously Reported
New Accounting Pronouncements or Change in Accounting Principle [Line Items]
Total equity		74,090	75,157
Noncontrolling Interest | Restatement Adjustment
New Accounting Pronouncements or Change in Accounting Principle [Line Items]
Total equity		$ 7,810	$ 7,280

BASIS OF PRESENTATION AND SIG_6

BASIS OF PRESENTATION AND SIGNIFICANT ACCOUNTING POLICIES - ASU Impact on Cash, Cash Equivalents, and Restricted Cash (Details) - USD ($) $ in Thousands	8 Months Ended	12 Months Ended
	Dec. 31, 2018	Apr. 30, 2018	Apr. 30, 2017	Apr. 30, 2016
Restricted Cash and Cash Equivalents Items [Line Items]
Net cash provided (used) by operating activities	$ 40,034	$ 55,195	$ 79,052	$ 72,261
Net cash provided (used) by investing activities	51,171	80,112	224,160	128,552
Net cash provided (used) by financing activities	(88,065)	(175,991)	(317,920)	(189,338)
Net increase (decrease) in cash, cash equivalents		0	0	0
NET INCREASE (DECREASE) IN CASH, CASH EQUIVALENTS, AND RESTRICTED CASH	3,140	(40,684)	(14,708)	11,475
Cash and cash equivalents at beginning of period	11,891	28,819		0
Cash and cash equivalents at end of period	13,792	11,891	28,819
CASH, CASH EQUIVALENTS, AND RESTRICTED CASH AT BEGINNING OF YEAR	16,116	56,800	71,508	60,033
CASH, CASH EQUIVALENTS, AND RESTRICTED CASH AT END OF YEAR	19,256	16,116	56,800	71,508
Previously Reported
Restricted Cash and Cash Equivalents Items [Line Items]
Net cash provided (used) by operating activities		48,035	73,930	66,493
Net cash provided (used) by investing activities		104,189	202,263	134,252
Net cash provided (used) by financing activities		(169,152)	(314,072)	(183,017)
Net increase (decrease) in cash, cash equivalents		(16,928)	(37,879)	17,728
NET INCREASE (DECREASE) IN CASH, CASH EQUIVALENTS, AND RESTRICTED CASH		0	0	0
Cash and cash equivalents at beginning of period	11,891	28,819	66,698	48,970
Cash and cash equivalents at end of period		11,891	28,819	66,698
CASH, CASH EQUIVALENTS, AND RESTRICTED CASH AT BEGINNING OF YEAR				0
Accounting Standards Update 2016-15 and 2016-18 | Restatement Adjustment
Restricted Cash and Cash Equivalents Items [Line Items]
Net cash provided (used) by operating activities		7,160	5,122	5,768
Net cash provided (used) by investing activities		(24,077)	21,897	(5,700)
Net cash provided (used) by financing activities		(6,839)	(3,848)	(6,321)
Net increase (decrease) in cash, cash equivalents		16,928	37,879	(17,728)
NET INCREASE (DECREASE) IN CASH, CASH EQUIVALENTS, AND RESTRICTED CASH		(40,684)	(14,708)	11,475
Cash and cash equivalents at beginning of period				(48,970)
CASH, CASH EQUIVALENTS, AND RESTRICTED CASH AT BEGINNING OF YEAR	$ 4,225	27,981	4,810	60,033
CASH, CASH EQUIVALENTS, AND RESTRICTED CASH AT END OF YEAR		$ 4,225	$ 27,981	$ 4,810

BASIS OF PRESENTATION AND SIG_7

BASIS OF PRESENTATION AND SIGNIFICANT ACCOUNTING POLICIES - Schedule of Cash, Cash Equivalents and Restricted Cash (Details) - USD ($) $ in Thousands	Dec. 31, 2018	Apr. 30, 2018	May 01, 2017	Apr. 30, 2017	May 01, 2016	Apr. 30, 2016	Apr. 30, 2015
Accounting Policies [Abstract]
Cash and cash equivalents	$ 13,792	$ 11,891	$ 0	$ 28,819	$ 0		$ 0
Restricted cash	5,464	4,225		27,981
Total cash, cash equivalents and restricted cash	$ 19,256	$ 16,116	$ 56,800	$ 56,800	$ 71,508	$ 71,508	$ 60,033

BASIS OF PRESENTATION AND SIG_8

BASIS OF PRESENTATION AND SIGNIFICANT ACCOUNTING POLICIES - Revenue Recognition (Details) - USD ($) $ in Thousands	2 Months Ended	3 Months Ended										8 Months Ended		12 Months Ended
	Dec. 31, 2018	Oct. 31, 2018	Jul. 31, 2018	Apr. 30, 2018	Jan. 31, 2018	Oct. 31, 2017	Jul. 31, 2017	Apr. 30, 2017	Jan. 31, 2017	Oct. 31, 2016	Jul. 31, 2016	Dec. 31, 2018	Dec. 31, 2017	Apr. 30, 2018	Apr. 30, 2017	Apr. 30, 2016	May 01, 2018
Disaggregation of Revenue [Line Items]
Performance obligation, description of timing												one year or less
Retained earnings	$ (429,048)			$ (395,669)				$ (466,541)				$ (429,048)		$ (395,669)	$ (466,541)
Real estate rentals												117,575
Revenue												4,296
Revenues	$ 30,287	$ 45,638	$ 45,946	$ 44,185	$ 42,716	$ 41,866	$ 40,978	$ 42,811	$ 39,797	$ 39,195	$ 38,301	$ 121,871	$ 111,249	$ 169,745	$ 160,104	$ 145,500
Product Concentration Risk
Disaggregation of Revenue [Line Items]
Concentration risk, percent												100.00%
Product Concentration Risk | Rental Revenue
Disaggregation of Revenue [Line Items]
Concentration risk, percent												96.50%
Product Concentration Risk | Other Property Revenue
Disaggregation of Revenue [Line Items]
Concentration risk, percent												3.50%
Difference between Revenue Guidance in Effect before and after Topic 606 | Accounting Standards Update 2014-09
Disaggregation of Revenue [Line Items]
Retained earnings																	$ 627

BASIS OF PRESENTATION AND SIG_9

BASIS OF PRESENTATION AND SIGNIFICANT ACCOUNTING POLICIES - Other Assets (Details) - USD ($) $ in Thousands	Dec. 31, 2018	Apr. 30, 2018	Apr. 30, 2017
Accounting Policies [Abstract]
Receivable arising from straight line rents	$ 1,145	$ 1,458	$ 2,145
Accounts receivable, net of allowance	71	81	476
Fair value of interest rate swaps	818	1,779	0
Loans receivable	16,399	15,480	0
Prepaid and other assets	3,802	5,334	4,891
Intangible assets	498	1,469	202
Property and equipment, net of accumulated depreciation	686	820	901
Goodwill	1,546	1,553	1,572
Deferred charges and leasing costs	2,300	2,323	3,119
Total Other Assets	$ 27,265	$ 30,297	$ 13,306

NONCONTROLLING INTERESTS (Detai

NONCONTROLLING INTERESTS (Details) - USD ($) $ in Thousands	Dec. 31, 2018	Apr. 30, 2018	Apr. 30, 2017
Noncontrolling Interest [Line Items]
Noncontrolling interests – consolidated real estate entities	$ 6,747	$ 8,888	$ 9,204
IRET - 71 France, LLC
Noncontrolling Interest [Line Items]
Noncontrolling interests – consolidated real estate entities	5,918	6,606	7,427
IRET - Cypress Court Apartments, LLC
Noncontrolling Interest [Line Items]
Noncontrolling interests – consolidated real estate entities	829	890	979
IRET - Williston Garden Apartments, LLC
Noncontrolling Interest [Line Items]
Noncontrolling interests – consolidated real estate entities	0	1,635	1,057
IRET - WRH 1, LLC
Noncontrolling Interest [Line Items]
Noncontrolling interests – consolidated real estate entities	0	(467)	(619)
WRH Holding, LLC
Noncontrolling Interest [Line Items]
Noncontrolling interests – consolidated real estate entities	$ 0	$ 224	$ 360

REDEEMABLE NONCONTROLLING INT_3

REDEEMABLE NONCONTROLLING INTERESTS (Details) $ in Thousands	8 Months Ended	12 Months Ended
	Dec. 31, 2018USD ($)joint_venture	Apr. 30, 2018USD ($)	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	$ 6,644	$ 7,117
Contributions		619	$ 7,188
Balance at close of fiscal year	$ 5,968	6,644	7,117
Southgate - Minot, ND
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	$ 6,644	7,117	7,522	$ 6,368
Contributions	0	268	17	1,120
Net (loss) income	(676)	(741)	(422)	34
Balance at close of fiscal year	$ 5,968	$ 6,644	$ 7,117	$ 7,522

DEBT - Narrative (Details)

DEBT - Narrative (Details)	8 Months Ended
	Dec. 31, 2018USD ($)propertyloanextension	Apr. 30, 2018USD ($)	Apr. 30, 2017USD ($)
Line of Credit Facility [Line Items]
Number of apartment communities | property	87
Number of real estate properties, unencumbered by mortgages | property	40
Number of real estate properties, unencumbered used to provide credit support | property	32
Amount available	$ 6,000,000
Revolving line of credit	57,500,000	$ 124,000,000	$ 57,050,000
Carrying principal value	648,474,000	706,140,000	$ 786,030,000
Domestic Line of Credit
Line of Credit Facility [Line Items]
Revolving line of credit	$ 0	$ 0
Domestic Line of Credit | Minimum | Base Rate
Line of Credit Facility [Line Items]
Interest rate spread (as a percent)	0.35%
Domestic Line of Credit | Minimum | London Interbank Offered Rate (LIBOR)
Line of Credit Facility [Line Items]
Interest rate spread (as a percent)	1.35%
Domestic Line of Credit | Maximum | Base Rate
Line of Credit Facility [Line Items]
Interest rate spread (as a percent)	8.50%
Domestic Line of Credit | Maximum | London Interbank Offered Rate (LIBOR)
Line of Credit Facility [Line Items]
Interest rate spread (as a percent)	1.90%
Multifamily
Line of Credit Facility [Line Items]
Number of apartment communities, serving as collateral for mortgage loans | property	51
Mortgages
Line of Credit Facility [Line Items]
Number of loans in default | loan	0
Weighted average interest rate (in hundredths)	4.58%	4.69%	4.71%
Mortgages | Minimum
Line of Credit Facility [Line Items]
Interest rate	3.47%
Mortgages | Maximum
Line of Credit Facility [Line Items]
Interest rate	6.66%
Line of Credit
Line of Credit Facility [Line Items]
Term	1 year
Construction Debt
Line of Credit Facility [Line Items]
Carrying principal value			$ 41,700,000
Weighted average interest rate (in hundredths)			3.27%
BMO Line of Credit | Line of Credit
Line of Credit Facility [Line Items]
Amount available	$ 250,000,000	$ 300,000,000	$ 206,000,000
Revolving line of credit		$ 124,000,000	$ 57,100,000
Number of extensions | extension	1
Extension term	12 months
BMO Line of Credit | Domestic Line of Credit
Line of Credit Facility [Line Items]
Amount available	$ 232,500,000
Remaining borrowing capacity	175,000,000
Revolving line of credit	$ 57,500,000
Interest rate (in hundredths)	3.72%
Term Loan Maturing 2024 | Unsecured Debt
Line of Credit Facility [Line Items]
Original principal balance	$ 70,000,000
Term Loan Maturing 2025 | Unsecured Debt
Line of Credit Facility [Line Items]
Original principal balance	$ 75,000,000
Long-term debt, term	7 years

DEBT - Schedule of Required Pay

DEBT - Schedule of Required Payments (Details) - USD ($) $ in Thousands	Dec. 31, 2018	Apr. 30, 2018	Apr. 30, 2017
Debt Instrument [Line Items]
Total payments	$ 444,197	$ 509,919	$ 565,978
Mortgages And Term Loans
Debt Instrument [Line Items]
2,019	28,587
2,020	87,592
2,021	104,553
2,022	40,917
2,023	48,546
Thereafter	280,779
Total payments	$ 590,974

DEBT - Schedule of Debt (Detail

DEBT - Schedule of Debt (Details) - USD ($) $ in Thousands	8 Months Ended
	Dec. 31, 2018	Apr. 30, 2018	Apr. 30, 2017
Debt Instrument [Line Items]
Carrying principal value	$ 648,474	$ 706,140	$ 786,030
Fixed Rate Mortgages Payable
Debt Instrument [Line Items]
Carrying principal value	$ 445,974	489,401	629,535
Weighted average maturity in years	3 years 7 months 10 days
Variable Rate Mortgages Payable
Debt Instrument [Line Items]
Carrying principal value	$ 0	$ 22,739	$ 57,708
Mortgages
Debt Instrument [Line Items]
Weighted average interest rate	4.58%	4.69%	4.71%
Construction Loans
Debt Instrument [Line Items]
Carrying principal value	$ 0	$ 0	$ 41,737
Weighted average interest rate	0.00%	0.00%	3.27%
Unsecured Debt
Debt Instrument [Line Items]
Carrying principal value	$ 202,500	$ 194,000	$ 57,050
Unsecured Debt | Line of Credit
Debt Instrument [Line Items]
Carrying principal value	$ 57,500	$ 124,000	$ 57,050
Weighted average maturity in years	3 years 8 months 1 day
Weighted average interest rate	3.72%	3.35%	2.67%
Unsecured Debt | Medium-term Notes
Debt Instrument [Line Items]
Carrying principal value	$ 145,000	$ 70,000	$ 0
Weighted average maturity in years	5 years 10 months 10 days
Weighted average interest rate	4.01%	3.86%	0.00%

DERIVATIVE INSTRUMENTS (Details

DERIVATIVE INSTRUMENTS (Details)	8 Months Ended		12 Months Ended
	Dec. 31, 2018USD ($)derivative_instrument	Dec. 31, 2017USD ($)	Apr. 30, 2018USD ($)	Apr. 30, 2017USD ($)	Apr. 30, 2016USD ($)	Jan. 31, 2023USD ($)derivative_instrument
Derivative [Line Items]
Cash flow hedge gain (loss) to be reclassified within twelve months	$ 61,000
Interest expense	21,359,000	$ 22,804,000	$ 34,178,000	$ 34,314,000	$ 28,417,000
Net income (loss)	(5,320,000)	$ 140,594,000	127,629,000	30,525,000	$ 76,602,000
Designated as Hedging Instrument
Derivative [Line Items]
Derivative instrument - interest rate swap	818,000		1,779,000	0
Derivative Liability	1,675,000		0	0
Gain (Loss) Recognized in OCI	(2,794,000)		1,627,000	0
Designated as Hedging Instrument | Interest Rate Contract
Derivative [Line Items]
Gain (Loss) Recognized in OCI	$ (2,794,000)		1,627,000	0
Designated as Hedging Instrument | Interest Rate Swap
Derivative [Line Items]
Number of instruments held | derivative_instrument	2
Notional amount	$ 145,000,000
Accumulated Gain (Loss), Cash Flow Hedge, Including Noncontrolling Interest | Reclassification out of Accumulated Other Comprehensive Income
Derivative [Line Items]
Net income (loss)	(159,000)		(152,000)	0
Accumulated Gain (Loss), Cash Flow Hedge, Including Noncontrolling Interest | Reclassification out of Accumulated Other Comprehensive Income | Interest Rate Contract
Derivative [Line Items]
Interest expense	(159,000)		(152,000)	0
Other Assets | Designated as Hedging Instrument | Interest Rate Swap
Derivative [Line Items]
Derivative instrument - interest rate swap	818,000		1,779,000	0
Accounts Payable and Accrued Expenses | Designated as Hedging Instrument | Interest Rate Swap
Derivative [Line Items]
Derivative Liability	$ 1,675,000		$ 0	$ 0
Scenario, Forecast | Designated as Hedging Instrument | Interest Rate Swap
Derivative [Line Items]
Number of instruments held | derivative_instrument						1
Notional amount						$ 70,000,000

TRANSACTIONS WITH RELATED PAR_2

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
Related Party Transaction [Line Items]
Number of real estate properties sold	27
Transaction fee | $	$ 1.8

ACQUISITIONS, DEVELOPMENT PRO_3

ACQUISITIONS, DEVELOPMENT PROJECTS PLACED IN SERVICE AND DISPOSITIONS - Acquisitions (Details) - Acquisitions $ 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 | 191 homes - Oxbo - St Paul, MN
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 | 500 homes - Park Place - Plymouth, MN
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 | 274 homes - Dylan - Denver, CO
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 | 390 homes - Westend - Denver, CO
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 PRO_4

ACQUISITIONS, DEVELOPMENT PROJECTS PLACED IN SERVICE AND DISPOSITIONS - Development Projects Placed In Service (Details) - Development Projects Placed in Service	12 Months Ended
	Apr. 30, 2017USD ($)unit	Apr. 30, 2016USD ($)	Dec. 31, 2018USD ($)	Apr. 30, 2018USD ($)
Business Acquisition [Line Items]
Land	$ 6,455,000
Building	96,423,000
Development cost	102,878,000		$ 0	$ 12
Multi-Family Residential | 71 France - Edina, MN
Business Acquisition [Line Items]
Land	4,721,000
Building	67,641,000
Development cost	$ 72,362,000
Number of apartment units | unit	241
Development costs paid	$ 1,500,000	$ 70,900,000
Project costs incurred to date	$ 72,400,000
Interest in joint venture	52.60%
Multi-Family Residential | Monticello Crossings - Monticello, MN
Business Acquisition [Line Items]
Land	$ 1,734,000
Building	28,782,000
Development cost	$ 30,516,000
Number of apartment units | unit	202
Development costs paid	$ 15,000,000	$ 15,500,000
Project costs incurred to date	$ 30,500,000

ACQUISITIONS, DEVELOPMENT PRO_5

ACQUISITIONS, DEVELOPMENT PROJECTS PLACED IN SERVICE AND DISPOSITIONS - Property Dispositions (Details) $ in Thousands	2 Months Ended	3 Months Ended										8 Months Ended		12 Months Ended
	Dec. 31, 2018USD ($)ft²unit	Oct. 31, 2018USD ($)	Jul. 31, 2018USD ($)	Apr. 30, 2018USD ($)ft²unitapartment_community	Jan. 31, 2018USD ($)	Oct. 31, 2017USD ($)	Jul. 31, 2017USD ($)	Apr. 30, 2017USD ($)ft²property	Jan. 31, 2017USD ($)	Oct. 31, 2016USD ($)	Jul. 31, 2016USD ($)	Dec. 31, 2018USD ($)ft²propertyunit	Dec. 31, 2017USD ($)	Apr. 30, 2018USD ($)ft²propertyunitapartment_community	Apr. 30, 2017USD ($)ft²property	Apr. 30, 2016USD ($)
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items]
Sales price	$ 30,287	$ 45,638	$ 45,946	$ 44,185	$ 42,716	$ 41,866	$ 40,978	$ 42,811	$ 39,797	$ 39,195	$ 38,301	$ 121,871	$ 111,249	$ 169,745	$ 160,104	$ 145,500
Disposed of by Sale
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items]
Sales price												63,357		515,130	286,926
Gain/(Loss)												$ 9,707		184,268	74,949
Retail Site | Disposed of by Sale
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items]
Number of properties sold | property												5
Multi-Family Residential | Disposed of by Sale
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items]
Number of properties sold | property												3
Sales price												$ 41,500		18,913
Gain/(Loss)												8,453		3,343
Multi-Family Residential | Disposed of by Sale | Dakota Commons Williston Nd
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items]
Sales price												4,420
Gain/(Loss)												$ 542
Number of apartment units, dispositions | unit	44											44
Multi-Family Residential | Disposed of by Sale | Williston Garden Williston Nd
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items]
Sales price												$ 12,310
Gain/(Loss)												$ 997
Number of apartment units, dispositions | unit	145											145
Interest in joint venture	74.11%											74.11%
Multi-Family Residential | Disposed of by Sale | Renaissance Heights Williston Nd
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items]
Sales price												$ 24,770
Gain/(Loss)												$ 6,914
Number of apartment units, dispositions | unit	288											288
Interest in joint venture	87.14%											87.14%
Multi-Family Residential | Disposed of by Sale | Multifamily 327 Unit Minot Nd
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
Number of apartment communities | apartment_community				13										13
Multi-Family Residential | Disposed of by Sale | Crown - Rochester, MN
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 | Disposed of by Sale | Northern Valley - Rochester, MN
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 | Disposed of by Sale | Pinecone Villas Sartell Mn
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
Other | Disposed of by Sale
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items]
Sales price												$ 16,707		$ 493,042	$ 17,400
Gain/(Loss)												1,302		180,938	11,419
Other | Disposed of by Sale | Minot Southgate Retail - Minot, ND
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items]
Sales price												1,925		3,440
Gain/(Loss)												$ (131)		$ 108
Area of real estate property | ft²	7,849			4,998								7,849		4,998
Other | Disposed of by Sale | Fresenius - Duluth, MN
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items]
Sales price												$ 1,900
Gain/(Loss)												$ 822
Area of real estate property | ft²	9,052											9,052
Other | Disposed of by Sale | Minot 2505 16th Street SW - Minot, ND
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items]
Sales price												$ 1,710
Gain/(Loss)												$ (104)
Area of real estate property | ft²	15,000											15,000
Other | Disposed of by Sale | 81594 Sq Ft Minot Arrowhead - Minot, ND
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items]
Sales price												$ 6,622
Gain/(Loss)												$ 715
Area of real estate property | ft²	81,594											81,594
Other | Disposed of by Sale | Bloomington 2000 W 94th Street - Bloomington, MN
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items]
Sales price												$ 4,550
Gain/(Loss)												$ 0
Area of real estate property | ft²	100,850											100,850
Other | Disposed of by Sale | Lexington Commerce Center Eagan Mn
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 | Disposed of by Sale | Eagan 1440 Duckwood Medical - Eagan, MN
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 | Disposed of by Sale | Edgewood Vista Hermantown Mn
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 | Disposed of by Sale | Urbandale - Urbandale IA
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 | Disposed of by Sale | Long Lake Road - Roseville MN
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 | Disposed of by Sale | Healthcare Properties
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items]
Number of properties sold | property														25
Sales price														$ 370,268
Gain/(Loss)														$ 137,490
Area of real estate property | ft²				1,205,432										1,205,432
Other | Disposed of by Sale | Garden View - St. Paul MN
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 | Disposed of by Sale | Ritchie Medical - St. Paul MN
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 | Disposed of by Sale | Bismarck 715 East Broadway - Bismarck, ND
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 | Disposed of by Sale | Stone Container Fargo Nd
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 | Disposed of by Sale | Grand Forks Carmike Grand Forks Nd
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
Unimproved Land | Disposed of by Sale
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items]
Number of properties sold | property												3
Sales price												$ 5,150
Gain/(Loss)												(48)
Unimproved Land | Disposed of by Sale | Grand Forks Grand Forks Nd
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items]
Sales price												3,000
Gain/(Loss)												14
Unimproved Land | Disposed of by Sale | Renaissance Heights Unimproved
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items]
Sales price												750
Gain/(Loss)												$ 66
Interest in joint venture	70.00%											70.00%
Unimproved Land | Disposed of by Sale | Badger Hills - Rochester, MN
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items]
Sales price												$ 1,400
Gain/(Loss)												(128)
Unimproved Land | Disposed of by Sale | Bismarck 4916 - Bismarck, ND
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items]
Sales price														$ 3,175
Gain/(Loss)														(13)
Unimproved Land | Disposed of by Sale | Grand Chute, Wisconsin, Unimproved Land
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items]
Sales price															$ 250
Gain/(Loss)															(24)
Healthcare | Disposed of by Sale
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items]
Sales price															265,736
Gain/(Loss)															$ 62,746
Healthcare | Disposed of by Sale | Idaho Spring Creek Senior Housing Properties
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 | Disposed of by Sale | Five Edgewood Vista Senior Housing Properties
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 | Disposed of by Sale | Wyoming Senior Housing Portfolio
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 | Disposed of by Sale | Nine Edgewood Vista Senior Housing Properties
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 | Disposed of by Sale | Four Edgewood Vista Senior Housing Properties
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 | Disposed of by Sale | Healtheast St John And Woodwinds Maplewood And Woodbury Mn
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 | Disposed of by Sale | Sartell 2000 23 Rd Street South Sartell Mn
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 | Disposed of by Sale | Legends At Heritage Place Sartell Mn
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
Real Estate
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items]
Property management expense												50,719		73,034	$ 64,326	$ 58,148
Real Estate | Disposed of by Sale
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items]
Property management expense												53,650		330,862	211,977
Real Estate | Multi-Family Residential | Disposed of by Sale
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items]
Property management expense												33,047		15,570
Real Estate | Multi-Family Residential | Disposed of by Sale | Dakota Commons Williston Nd
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items]
Property management expense												3,878
Real Estate | Multi-Family Residential | Disposed of by Sale | Williston Garden Williston Nd
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items]
Property management expense												11,313
Real Estate | Multi-Family Residential | Disposed of by Sale | Renaissance Heights Williston Nd
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items]
Property management expense												17,856
Real Estate | Multi-Family Residential | Disposed of by Sale | Multifamily 327 Unit Minot Nd
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items]
Property management expense														11,562
Real Estate | Multi-Family Residential | Disposed of by Sale | Crown - Rochester, MN
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items]
Property management expense														3,318
Real Estate | Multi-Family Residential | Disposed of by Sale | Northern Valley - Rochester, MN
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items]
Property management expense														690
Real Estate | Multi-Family Residential | Disposed of by Sale | Pinecone Villas Sartell Mn
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items]
Property management expense															2,732
Real Estate | Other | Disposed of by Sale
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items]
Property management expense												15,405		312,104	5,981
Real Estate | Other | Disposed of by Sale | Minot Southgate Retail - Minot, ND
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items]
Property management expense												2,056		3,332
Real Estate | Other | Disposed of by Sale | Fresenius - Duluth, MN
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items]
Property management expense												1,078
Real Estate | Other | Disposed of by Sale | Minot 2505 16th Street SW - Minot, ND
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items]
Property management expense												1,814
Real Estate | Other | Disposed of by Sale | 81594 Sq Ft Minot Arrowhead - Minot, ND
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items]
Property management expense												5,907
Real Estate | Other | Disposed of by Sale | Bloomington 2000 W 94th Street - Bloomington, MN
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items]
Property management expense												4,550
Real Estate | Other | Disposed of by Sale | Lexington Commerce Center Eagan Mn
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items]
Property management expense														3,963
Real Estate | Other | Disposed of by Sale | Eagan 1440 Duckwood Medical - Eagan, MN
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items]
Property management expense														1,886
Real Estate | Other | Disposed of by Sale | Edgewood Vista Hermantown Mn
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items]
Property management expense														24,697
Real Estate | Other | Disposed of by Sale | Urbandale - Urbandale IA
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items]
Property management expense														12,857
Real Estate | Other | Disposed of by Sale | Long Lake Road - Roseville MN
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items]
Property management expense														12,766
Real Estate | Other | Disposed of by Sale | Healthcare Properties
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items]
Property management expense														232,778
Real Estate | Other | Disposed of by Sale | Garden View - St. Paul MN
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items]
Property management expense														6,191
Real Estate | Other | Disposed of by Sale | Ritchie Medical - St. Paul MN
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items]
Property management expense														10,419
Real Estate | Other | Disposed of by Sale | Bismarck 715 East Broadway - Bismarck, ND
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items]
Property management expense														3,215
Real Estate | Other | Disposed of by Sale | Stone Container Fargo Nd
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items]
Property management expense															4,418
Real Estate | Other | Disposed of by Sale | Grand Forks Carmike Grand Forks Nd
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items]
Property management expense															1,563
Real Estate | Unimproved Land | Disposed of by Sale
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items]
Property management expense												5,198
Real Estate | Unimproved Land | Disposed of by Sale | Grand Forks Grand Forks Nd
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items]
Property management expense												2,986
Real Estate | Unimproved Land | Disposed of by Sale | Renaissance Heights Unimproved
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items]
Property management expense												684
Real Estate | Unimproved Land | Disposed of by Sale | Badger Hills - Rochester, MN
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items]
Property management expense												$ 1,528
Real Estate | Unimproved Land | Disposed of by Sale | Bismarck 4916 - Bismarck, ND
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items]
Property management expense														$ 3,188
Real Estate | Unimproved Land | Disposed of by Sale | Grand Chute, Wisconsin, Unimproved Land
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items]
Property management expense															274
Real Estate | Healthcare | Disposed of by Sale
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items]
Property management expense															202,990
Real Estate | Healthcare | Disposed of by Sale | Idaho Spring Creek Senior Housing Properties
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items]
Property management expense															37,397
Real Estate | Healthcare | Disposed of by Sale | Five Edgewood Vista Senior Housing Properties
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items]
Property management expense															50,393
Real Estate | Healthcare | Disposed of by Sale | Wyoming Senior Housing Portfolio
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items]
Property management expense															45,469
Real Estate | Healthcare | Disposed of by Sale | Nine Edgewood Vista Senior Housing Properties
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items]
Property management expense															24,081
Real Estate | Healthcare | Disposed of by Sale | Four Edgewood Vista Senior Housing Properties
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items]
Property management expense															14,511
Real Estate | Healthcare | Disposed of by Sale | Healtheast St John And Woodwinds Maplewood And Woodbury Mn
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items]
Property management expense															13,777
Real Estate | Healthcare | Disposed of by Sale | Sartell 2000 23 Rd Street South Sartell Mn
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items]
Property management expense															5,923
Real Estate | Healthcare | Disposed of by Sale | Legends At Heritage Place Sartell Mn
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items]
Property management expense															$ 11,439

OPERATING SEGMENT (Details)

OPERATING SEGMENT (Details) $ in Thousands	2 Months Ended	3 Months Ended										6 Months Ended	8 Months Ended		12 Months Ended
	Dec. 31, 2018USD ($)	Oct. 31, 2018USD ($)	Jul. 31, 2018USD ($)	Apr. 30, 2018USD ($)	Jan. 31, 2018USD ($)	Oct. 31, 2017USD ($)	Jul. 31, 2017USD ($)	Apr. 30, 2017USD ($)	Jan. 31, 2017USD ($)	Oct. 31, 2016USD ($)	Jul. 31, 2016USD ($)	Oct. 31, 2017segment	Dec. 31, 2018USD ($)	Dec. 31, 2017USD ($)	Apr. 30, 2018USD ($)	Apr. 30, 2017USD ($)	Apr. 30, 2016USD ($)	May 01, 2017USD ($)	May 01, 2016USD ($)	Apr. 30, 2015USD ($)
Segment Reporting Information [Line Items]
Number of reportable segments | segment												2
Segment Reporting Information, Profit (Loss) [Abstract]
Revenues	$ 30,287	$ 45,638	$ 45,946	$ 44,185	$ 42,716	$ 41,866	$ 40,978	$ 42,811	$ 39,797	$ 39,195	$ 38,301		$ 121,871	$ 111,249	$ 169,745	$ 160,104	$ 145,500
Net operating income													71,152		96,711	95,778	87,352
Casualty loss													(915)	(600)	(500)	(414)	(238)
Depreciation and amortization													(50,456)		(82,070)	(44,253)	(39,273)
Impairment of real estate investments													(1,221)		(18,065)	(57,028)	(5,543)
General and administrative expenses													(9,812)	(9,041)	(14,203)	(15,871)	(13,498)
Acquisition and investment related costs															(51)	(3,276)	(830)
Interest expense													(21,359)	(22,804)	(34,178)	(34,314)	(28,417)
Loss on extinguishment of debt													(556)	(818)	(940)	(1,651)	(106)
Interest and other income													1,233		1,508	1,146	385
Income (loss) before gain (loss) on sale of real estate and other investments, gain on bargain purchase and income (loss) from discontinued operations													(15,597)	(27,925)	(57,314)	(64,929)	(3,882)
Gain (loss) on sale of real estate and other investments													9,707	17,816	20,120	18,701	9,640
Gain on bargain purchase													0	0	0	0	3,424
Income (loss) from continuing operations													(5,890)	(10,109)	(37,194)	(46,228)	9,182
Income (loss) from discontinued operations													570	150,703	164,823	76,753	67,420
NET INCOME (LOSS)													(5,320)	140,594	127,629	30,525	76,602
Segment Assets [Abstract]
Property owned	1,627,636			1,669,764				1,358,529					1,627,636		1,669,764	1,358,529
Less accumulated depreciation	(353,871)			(311,324)				(255,599)					(353,871)		(311,324)	(255,599)
Total property owned	1,273,765			1,358,440				1,102,930					1,273,765		1,358,440	1,102,930
Assets held for sale and assets of discontinued operations	0			0				283,023					0		0	283,023
Cash and cash equivalents	13,792			11,891				28,819					13,792		11,891	28,819		$ 0	$ 0	$ 0
Restricted cash	5,464			4,225				27,981					5,464		4,225	27,981
Other assets	27,265			30,297				13,306					27,265		30,297	13,306
Unimproved land	5,301			11,476				18,455					5,301		11,476	18,455
Mortgage loans receivable	10,410			10,329				0					10,410		10,329	0
TOTAL ASSETS	1,335,997			1,426,658				1,474,514					1,335,997		1,426,658	1,474,514
Multi-Family Residential | Operating Segments
Segment Reporting Information, Profit (Loss) [Abstract]
Revenues													116,138		159,983	142,214	129,049
Net operating income													67,242		89,523	81,319	74,287
Segment Assets [Abstract]
Property owned	1,582,917			1,606,421				1,260,541					1,582,917		1,606,421	1,260,541
Less accumulated depreciation	(340,081)			(294,477)				(232,592)					(340,081)		(294,477)	(232,592)
Total property owned	1,242,836			1,311,944				1,027,949					1,242,836		1,311,944	1,027,949
All Other | Operating Segments
Segment Reporting Information, Profit (Loss) [Abstract]
Revenues													5,733		9,762	17,890	16,451
Net operating income													3,910		7,188	14,459	13,065
Segment Assets [Abstract]
Property owned	44,719			63,343				97,988					44,719		63,343	97,988
Less accumulated depreciation	(13,790)			(16,847)				(23,007)					(13,790)		(16,847)	(23,007)
Total property owned	$ 30,929			$ 46,496				$ 74,981					30,929		46,496	74,981
Real Estate
Segment Reporting Information, Profit (Loss) [Abstract]
Cost of revenue													50,719		73,034	64,326	58,148
Cost of revenue													(50,719)		(73,034)	(64,326)	(58,148)
Real Estate | Multi-Family Residential | Operating Segments
Segment Reporting Information, Profit (Loss) [Abstract]
Cost of revenue													48,896		70,460	60,895	54,762
Cost of revenue													(48,896)		(70,460)	(60,895)	(54,762)
Real Estate | All Other | Operating Segments
Segment Reporting Information, Profit (Loss) [Abstract]
Cost of revenue													1,823		2,574	3,431	3,386
Cost of revenue													(1,823)		(2,574)	(3,431)	(3,386)
Management Service
Segment Reporting Information, Profit (Loss) [Abstract]
Cost of revenue													3,663	3,652	5,526	5,046	3,714
Cost of revenue													$ (3,663)	$ (3,652)	$ (5,526)	$ (5,046)	$ (3,714)

DISCONTINUED OPERATIONS - Effec

DISCONTINUED OPERATIONS - Effect on Net Income and Gains (Losses) From Sale Of Property (Details) $ in Thousands	2 Months Ended	3 Months Ended										8 Months Ended		12 Months Ended
	Dec. 31, 2018USD ($)	Oct. 31, 2018USD ($)	Jul. 31, 2018USD ($)	Apr. 30, 2018USD ($)	Jan. 31, 2018USD ($)	Oct. 31, 2017USD ($)	Jul. 31, 2017USD ($)	Apr. 30, 2017USD ($)	Jan. 31, 2017USD ($)	Oct. 31, 2016USD ($)	Jul. 31, 2016USD ($)	Dec. 31, 2018USD ($)property	Dec. 31, 2017USD ($)	Apr. 30, 2018USD ($)property	Apr. 30, 2017USD ($)property	Apr. 30, 2016USD ($)property
Revenues [Abstract]
Real estate rentals												$ 117,575
Revenues	$ 30,287	$ 45,638	$ 45,946	$ 44,185	$ 42,716	$ 41,866	$ 40,978	$ 42,811	$ 39,797	$ 39,195	$ 38,301	121,871	$ 111,249	$ 169,745	$ 160,104	$ 145,500
EXPENSES
Property operating expenses, excluding real estate taxes												37,198	35,581	54,292	47,587	43,741
Real estate taxes												13,521	12,234	18,742	16,739	14,407
Depreciation and amortization												50,456	54,902	82,070	44,253	39,273
Impairment of real estate investments												1,221		18,065	57,028	5,543
TOTAL EXPENSES												116,786	116,266	193,449	190,214	121,244
Interest expense												(21,359)	(22,804)	(34,178)	(34,314)	(28,417)
Gain (loss) on extinguishment of debt												(556)	(818)	(940)	(1,651)	(106)
Interest income												1,168	432	1,197	366	78
Other income												65	282	311	780	307
Gain (loss) on sale of discontinued operations												10,277		183,687	74,847	33,423
INCOME FROM DISCONTINUED OPERATIONS												570	150,703	164,823	76,753	67,420
Property Sale Data
Gain (loss) on sale of discontinued operations												$ 10,277		$ 183,687	$ 74,847	33,423
Discontinued Operations
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												0		27	0
EXPENSES
Gain (loss) on sale of discontinued operations												$ 0		$ 163,567	$ 56,146	23,782
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												0		437,652	239,436	$ 373,460
Net book value and sales costs												0		(274,085)	(183,290)	(349,678)
Gain (loss) on sale of discontinued operations												0		163,567	56,146	23,782
Discontinued Operations, Disposed of by Sale
Revenues [Abstract]
Real estate rentals												0		19,744	43,984	69,623
EXPENSES
Property operating expenses, excluding real estate taxes												0		6,350	9,051	17,470
Real estate taxes												0		5,191	6,848	11,611
Depreciation and amortization												0		8,445	10,772	24,725
Impairment of real estate investments												0		0	0	440
TRS senior housing expenses												0		0	3,113	3,366
TOTAL EXPENSES												0		20,192	30,358	59,569
Operating income (loss)												0		11,202	32,954	37,443
Interest expense												0		(4,172)	(11,628)	(25,757)
Gain (loss) on extinguishment of debt												0		(6,508)	(3,238)	29,336
Interest income												0		661	2,179	2,179
Other income												0		73	340	437
Income (loss) from discontinued operations before gain on sale												0		1,256	20,607	43,638
Gain (loss) on sale of discontinued operations												570		163,567	56,146	23,782
INCOME FROM DISCONTINUED OPERATIONS												570		164,823	76,753	67,420
Property Sale Data
Gain (loss) on sale of discontinued operations												570		163,567	$ 56,146	$ 23,782
Discontinued Operations, Disposed of by Sale | Office
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 | Retail Site
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 | Commercial Healthcare
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 | Senior Housing Properties
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, Disposed of by Sale | All Other
EXPENSES
INCOME FROM DISCONTINUED OPERATIONS												570		164,823	$ 76,753	$ 67,420
Discontinued Operations, Held-for-sale | Senior Housing Properties
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 | Discontinued Operations, Disposed of by Sale
Revenues [Abstract]
Revenues												0		11,650	16,110	$ 23,434
TRS Senior Housing | Discontinued Operations, Disposed of by Sale
Revenues [Abstract]
Revenues												0		0	3,218	3,955
Real Estate
EXPENSES
Property management expense												50,719		73,034	64,326	58,148
Real Estate | Discontinued Operations, Disposed of by Sale
Revenues [Abstract]
Revenues												0		31,394	63,312	97,012
Management Service
EXPENSES
Property management expense												3,663	$ 3,652	5,526	5,046	3,714
Management Service | Discontinued Operations, Disposed of by Sale
EXPENSES
Property management expense												$ 0		$ 206	$ 574	$ 1,957

DISCONTINUED OPERATIONS - Recon

DISCONTINUED OPERATIONS - Reconciliation of Assets and Liabilities of Discontinued Operations (Details) - USD ($) $ in Thousands	Dec. 31, 2018	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	$ 0	$ 130,904
Discontinued Operations, Held-for-sale
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, $ in Thousands	2 Months Ended	3 Months Ended										8 Months Ended		12 Months Ended
	Dec. 31, 2018USD ($)$ / shares	Oct. 31, 2018USD ($)$ / shares	Jul. 31, 2018USD ($)$ / shares	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	Dec. 31, 2018USD ($)$ / sharesshares	Dec. 31, 2017USD ($)$ / shares	Apr. 30, 2018USD ($)$ / sharesshares	Apr. 30, 2017USD ($)$ / sharesshares	Apr. 30, 2016USD ($)$ / sharesshares
Earnings Per Share [Abstract]
Ratio of units exchanged for shares												1
Antidilutive excluded from computation of earnings per share | shares												25,300
Net Income (Loss) Attributable to Parent [Abstract]
Income (loss) from continuing operations – controlling interests												$ (4,908)		$ (30,266)	$ (24,473)	$ 11,553
Income (loss) from discontinued operations – controlling interests												510		147,054	67,820	60,453
Net income (loss) attributable to controlling interests	$ (2,756)	$ (4,558)	$ 2,916	$ (20,874)	$ 136,105	$ 12,821	$ (11,264)	$ 30,280	$ 23,110	$ 11,600	$ (21,643)	(4,398)	$ 127,414	116,788	43,347	72,006
Dividends to preferred shareholders												(4,547)		(8,569)	(10,546)	(11,514)
Redemption of preferred shares												0	(3,657)	(3,657)	(1,435)	0
NET INCOME (LOSS) AVAILABLE TO COMMON SHAREHOLDERS	$ (3,892)	$ (6,264)	$ 1,211	$ (22,579)	$ 134,331	$ 6,360	$ (13,550)	$ 27,994	$ 19,172	$ 8,722	$ (24,522)	(8,945)	117,461	104,562	31,366	60,492
Noncontrolling interests – Operating Partnership												(1,032)	$ 14,222	12,702	4,059	7,032
Numerator for diluted earnings per share												$ (9,977)		$ 117,264	$ 35,425	$ 67,524
DENOMINATOR
Denominator for basic earnings per share weighted average shares (in shares) | shares												11,937,000		119,977,000	121,169,000	123,094,000
Effect of convertible operating partnership units (in shares) | shares												1,387,000		14,617,000	16,130,000	14,278,000
Denominator for diluted earnings per share (in shares) | shares												13,324,000		134,594,000	137,299,000	137,372,000
Earnings (loss) per common share from continuing operations – Investors Real Estate Trust – basic and diluted (in dollars per share) | $ / shares												$ (0.79)	$ (1.41)	$ (3.54)	$ (3.01)	$ 0
Earnings (loss) per common share from discontinued operations – basic and diluted (in dollars per share) | $ / shares												0.04	11.19	12.25	5.59	4.91
NET EARNINGS (LOSS) PER COMMON SHARE – BASIC & DILUTED (in dollars per share) | $ / shares	$ (0.33)	$ (0.52)	$ 0.10	$ (1.89)	$ 11.22	$ 0.53	$ (1.12)	$ 2.33	$ 1.58	$ 0.72	$ (2.02)	$ (0.75)	$ 9.78	$ 8.71	$ 2.58	$ 4.91

RETIREMENT PLANS (Details)

RETIREMENT PLANS (Details) - USD ($) $ in Thousands	8 Months Ended	12 Months Ended
	Dec. 31, 2018	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	$ 476	$ 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	8 Months Ended
	Dec. 31, 2018USD ($)propertyunitjoint_venture	Apr. 30, 2018USD ($)	Apr. 30, 2017USD ($)
Real Estate Properties [Line Items]
Number of real estate properties | property	87
Redemption basis	1
Number of consecutive trading days for valuation	10 days
Aggregate redemption value of Units of operating partnership owned by limited partners | $	$ 68.4	$ 74.7	$ 95.1
Number of joint ventures with buy sell options | joint_venture	1
Subject to Restrictions on Taxable Dispositions
Real Estate Properties [Line Items]
Number of real estate properties | property	24
Number of apartment homes (approximately) | unit	4,099
Real estate investment amount of properties (net of accumulated depreciation) | $	$ 532
Southgate - Minot, ND
Real Estate Properties [Line Items]
Commitment period for joint venture acquisition	4 years

FAIR VALUE MEASUREMENTS (Detail

FAIR VALUE MEASUREMENTS (Details) $ in Thousands	Dec. 31, 2018USD ($)	Apr. 30, 2018USD ($)	Apr. 30, 2017USD ($)
FINANCIAL LIABILITIES
Mortgages payable	$ 444,197	$ 509,919	$ 565,978
Carrying Amount
FINANCIAL ASSETS
Cash and cash equivalents	13,792	11,891	28,819
Mortgage and note receivables	26,809	25,809	0
FINANCIAL LIABILITIES
Other debt, including other debt related to assets held for sale	0	0	49,637
Revolving line of credit	57,500	124,000	57,050
Mortgages payable	445,974	509,919	665,440
Mortgages payable related to assets held for sale	0	0	21,803
Fair Value
FINANCIAL ASSETS
Cash and cash equivalents	13,792	11,891	28,819
Mortgage and note receivables	26,809	25,809	0
FINANCIAL LIABILITIES
Other debt, including other debt related to assets held for sale	0	0	49,637
Revolving line of credit	57,500	124,000	57,050
Mortgages payable	444,241	510,803	680,941
Mortgages payable related to assets held for sale	0	0	21,861
Nonrecurring
Fair Value Measurements on a Nonrecurring Basis [Abstract]
Real estate investments valued at fair value	3,049	52,145	506
Real estate held for sale			10,891
Nonrecurring | Level 1
Fair Value Measurements on a Nonrecurring Basis [Abstract]
Real estate investments valued at fair value	0	0	0
Real estate held for sale			0
Nonrecurring | Level 2
Fair Value Measurements on a Nonrecurring Basis [Abstract]
Real estate investments valued at fair value	0	0	0
Real estate held for sale			0
Nonrecurring | Level 3
Fair Value Measurements on a Nonrecurring Basis [Abstract]
Real estate investments valued at fair value	3,049	52,145	506
Real estate held for sale			$ 10,891
Measurement Input, Cap Rate | Nonrecurring
Fair Value Measurements on a Nonrecurring Basis [Abstract]
Capitalization rate (as a percent)			0.070
Term Loan Maturing 2024 | Carrying Amount
FINANCIAL LIABILITIES
Term loan	70,000	70,000	$ 0
Term Loan Maturing 2024 | Fair Value
FINANCIAL LIABILITIES
Term loan	70,000	70,000	0
Term Loan Maturing 2025 | Carrying Amount
FINANCIAL LIABILITIES
Term loan	75,000	0	0
Term Loan Maturing 2025 | Fair Value
FINANCIAL LIABILITIES
Term loan	$ 75,000	$ 0	$ 0

SHAREHOLDERS_ EQUITY (Details)

SHAREHOLDERS’ EQUITY (Details) - USD ($)	Dec. 05, 2018	Dec. 05, 2017	Dec. 07, 2016	Dec. 31, 2018	Apr. 30, 2018	Apr. 30, 2017	Apr. 30, 2016
Class of Stock [Line Items]
Noncontrolling interests - Operating Partnership (in shares)				1,367,502	1,409,943	1,561,722
Conversion of Units to Common Shares. [Abstract]
Units converted to common stock (in shares)				9,000	149,000	17,000
Units converted to common stock, aggregate cost				$ 499,000	$ 8,775,000	$ 966,000
Units converted to common stock, unit price (in dollars per share)				$ 53.12	$ 58.90	$ 58.40
Units converted to common stock				$ 0	$ 0	$ 0	$ 0
Equity Awards
Common shares outstanding (in shares)				11,942,372	11,952,598	12,119,930
Share Repurchase Program
Repurchase period	1 year		1 year
Share Repurchase Program
Share Repurchase Program
Authorized share repurchase amount			$ 50,000,000
Repurchase period		1 year
Shares repurchased and retired (in shares)				42,000	178,000	78,000
Shares repurchased and retired				$ 2,200,000	$ 9,900,000	$ 4,500,000
Shares repurchased and retired (in dollars per share)				$ 51.36	$ 55.82	$ 57.69
2015 Incentive Plan
Equity Awards
Forfeited (in shares)				200	3,200	27,400
2015 Incentive Plan | Performance Shares
Equity Awards
Shares issued (in shares)				5,600	9,300	60,400
Shares issued				$ 347,000	$ 536,000	$ 2,600,000
2008 Incentive Award Plan
Equity Awards
Shares issued (in shares)						5,900
Shares issued						$ 352,000
Series C Preferred Stock
Cumulative Redeemable Preferred Shares of Beneficial Interest [Abstract]
Preferred shares issued (in shares)				4,118,460	4,118,460	0
Distribution rate percentage					6.625%
Liquidation preference per share (in dollars per share)						$ 25
Distribution accrual rate					$ 1.65625
Preferred shares liquidation preference						$ 102,971,475
Series B Preferred Stock
Cumulative Redeemable Preferred Shares of Beneficial Interest [Abstract]
Preferred shares issued (in shares)				0	0	4,600,000
Distribution rate percentage					7.95%
Preferred shares liquidation preference						$ 115,000,000
Shares redeemed (in shares)					4,600,000
Series A Preferred Stock
Cumulative Redeemable Preferred Shares of Beneficial Interest [Abstract]
Distribution rate percentage						8.25%
Aggregate redemption price						$ 29,200,000
Exercise of Exchange Rights
Conversion of Units to Common Shares. [Abstract]
Units converted to common stock (in shares)				33,000	3,000	50,000
Units converted to common stock				$ 649,000	$ 34,000	$ 875,000

QUARTERLY RESULTS OF CONSOLID_3

QUARTERLY RESULTS OF CONSOLIDATED OPERATIONS (unaudited) (Details) - USD ($) $ / shares in Units, $ in Thousands	2 Months Ended	3 Months Ended										8 Months Ended		12 Months Ended
	Dec. 31, 2018	Oct. 31, 2018	Jul. 31, 2018	Apr. 30, 2018	Jan. 31, 2018	Oct. 31, 2017	Jul. 31, 2017	Apr. 30, 2017	Jan. 31, 2017	Oct. 31, 2016	Jul. 31, 2016	Dec. 31, 2018	Dec. 31, 2017	Apr. 30, 2018	Apr. 30, 2017	Apr. 30, 2016
Selected Quarterly Financial Information [Abstract]
Revenues	$ 30,287	$ 45,638	$ 45,946	$ 44,185	$ 42,716	$ 41,866	$ 40,978	$ 42,811	$ 39,797	$ 39,195	$ 38,301	$ 121,871	$ 111,249	$ 169,745	$ 160,104	$ 145,500
Net income (loss) attributable to controlling interests	(2,756)	(4,558)	2,916	(20,874)	136,105	12,821	(11,264)	30,280	23,110	11,600	(21,643)	(4,398)	127,414	116,788	43,347	72,006
Net income (loss) available to common shareholders	$ (3,892)	$ (6,264)	$ 1,211	$ (22,579)	$ 134,331	$ 6,360	$ (13,550)	$ 27,994	$ 19,172	$ 8,722	$ (24,522)	$ (8,945)	$ 117,461	$ 104,562	$ 31,366	$ 60,492
Net income (loss) per common share - basic & diluted (in dollars per share)	$ (0.33)	$ (0.52)	$ 0.10	$ (1.89)	$ 11.22	$ 0.53	$ (1.12)	$ 2.33	$ 1.58	$ 0.72	$ (2.02)	$ (0.75)	$ 9.78	$ 8.71	$ 2.58	$ 4.91

SHARE BASED COMPENSATION - Narr

SHARE BASED COMPENSATION - Narrative (Details) - USD ($) $ / shares in Units, $ in Thousands	Nov. 05, 2018	Aug. 10, 2018	Jul. 20, 2018	Sep. 15, 2015	Dec. 31, 2018	Apr. 30, 2018	Apr. 30, 2017	Apr. 30, 2016	Apr. 30, 2015
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Stock based compensation expense					$ 845	$ 1,587	$ 6	$ 2,256
Restricted Share Awards | Restricted Stock
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Granted (in shares)					0	9,136	25,326	0
Eligible to be earned (in shares)					7,191	9,900	19,511	0	10,754
Share-based Compensation Arrangement by Share-based Payment Award, Fair Value Assumptions and Methodology [Abstract]
Awards vested during period					$ 147	$ 1,100	$ 127	$ 647
Total compensation cost related to non-vested share awards					$ 109
Weighted average period to recognize cost					1 year 1 month 2 days
Share based awards with market conditions, unamortized value [Abstract]
Unamortized value					$ 26	130	300
Restricted Share Awards | 2018 LTIP Awards | Restricted Stock
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Granted (in shares)					8,383
Award vesting period					3 years
Share-based Compensation Arrangement by Share-based Payment Award, Fair Value Assumptions and Methodology [Abstract]
Awards vested during period					$ 449
Total compensation cost related to non-vested share awards					$ 574
Weighted average period to recognize cost					1 year 7 months 28 days
2015 Incentive Plan
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Number of shares (in shares)				4,250,000
Term of award				10 years
2015 Incentive Plan | Award In 2019 | Relative Total Shareholder Return Performance Shares
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Granted (in shares)		474	14,987
2015 Incentive Plan | Award In 2019 Vesting Two | Restricted Stock
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Granted (in shares)		554
2015 Incentive Plan | Award Vesting In 2019 Three | Restricted Stock
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Granted (in shares)	100
2015 Incentive Plan | Award In 2019 Vesting One | Restricted Stock
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Granted (in shares)		237
2015 Incentive Plan | 2018 LTIP Awards | Restricted Stock | Vesting Periods One
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Restricted shares vesting percentage		33.33%	33.33%
2015 Incentive Plan | 2018 LTIP Awards | Restricted Stock | Vesting Periods Two
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Restricted shares vesting percentage		33.33%	33.33%
2015 Incentive Plan | 2018 LTIP Awards | Restricted Stock | Vesting Periods Three
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Restricted shares vesting percentage		33.33%	33.33%
2015 Incentive Plan | 2018 LTIP Awards | Performance Shares
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Award vesting period					3 years
Eligible to be earned (in shares)					30,922
Percent of RSUs granted					200.00%
Share-based Compensation Arrangement by Share-based Payment Award, Fair Value Assumptions and Methodology [Abstract]
Volatility rate (in hundredths)					28.60%
Risk free interest rate					2.66%
Expected life					2 years 9 months 11 days
Share price (in dollars per share)			$ 53.6
Long Term Incentive Plan | 2018 LTIP Awards
Share based awards with market conditions, grant date fair value [Abstract]
Grant date fair value					$ 892
Share based awards with market conditions, unamortized value [Abstract]
Unamortized value					1,100	448
Trustee Awards | Unrestricted Stock
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Stock based compensation expense					$ 348	$ 389	$ 365	$ 352
Restricted Stock Units with Service Conditions | Restricted Stock Units (RSU)
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Granted (in shares)					14,878	6,994
Eligible to be earned (in shares)					18,260	6,787	0
Management | 2015 Incentive Plan | Award In 2019 | Restricted Stock
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Granted (in shares)			7,492
Director | 2015 Incentive Plan | Award In 2019 | Restricted Stock
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Granted (in shares)			6,495

SHARE BASED COMPENSATION - Sche

SHARE BASED COMPENSATION - Schedule of Total Compensation Expense (Details) - USD ($) $ in Thousands	8 Months Ended	12 Months Ended
	Dec. 31, 2018	Apr. 30, 2018	Apr. 30, 2017	Apr. 30, 2016
Disclosure of Compensation Related Costs, Share-based Payments [Abstract]
Stock based compensation expense	$ 845	$ 1,587	$ 6	$ 2,256

SHARE BASED COMPENSATION - Acti

SHARE BASED COMPENSATION - Activity for Restricted Shares Awards and Restricted Stock Units (Details) - $ / shares	8 Months Ended	12 Months Ended
	Dec. 31, 2018	Apr. 30, 2018	Apr. 30, 2017	Apr. 30, 2016
Restricted Stock Units with Service Conditions | Restricted Stock Units (RSU)
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)	6,787	0
Granted (in shares)	14,878	6,994
Vested (in shares)	(2,943)	(207)
Forfeited (in shares)	(462)	0
Unvested, end of period (in shares)	18,260	6,787	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)	$ 60.85
Granted (in dollars per share)	53.60	$ 60.54
Vested (in dollars per share)	60.83	50.30
Forfeited (in dollars per share)	53.60
Unvested, end of period (in dollars per share)	$ 55.13	$ 60.85
Restricted Share Awards | Restricted Stock
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)	9,900	19,511	0	10,754
Granted (in shares)	0	9,136	25,326	0
Vested (in shares)	(2,709)	(18,545)	(2,132)	(10,754)
Forfeited (in shares)	0	(202)	(3,683)
Unvested, end of period (in shares)	7,191	9,900	19,511	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)				$ 71.70
Granted (in dollars per share)		$ 57.55	$ 61.59
Vested (in dollars per share)	$ 63.21	59.89	59.50	$ 71.70
Forfeited (in dollars per share)	$ 60.49	$ 62.40	$ 62.40
Restricted Stock With Market Conditions | Restricted Stock Units (RSU)
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)	11,538	0
Granted (in shares)	15,461	11,538
Vested (in shares)	0	0
Forfeited (in shares)	(1,680)	0
Unvested, end of period (in shares)	25,319	11,538	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)	$ 70.90
Granted (in dollars per share)	57.70	$ 70.90
Forfeited (in dollars per share)	70.90
Unvested, end of period (in dollars per share)	$ 62.84	$ 70.90

SUBSEQUENT EVENTS (Details)

SUBSEQUENT EVENTS (Details) - SouthFork Townhomes - Subsequent Event $ / shares in Units, $ in Millions	Feb. 26, 2019USD ($)unit$ / shares
Subsequent Event [Line Items]
Number of units in acquired property | unit	272
Total acquisition costs	$ 44
Form of consideration, cash	$ 27.4
Share price (in dollars per share) | $ / shares	$ 72.50
Convertible Preferred Stock
Subsequent Event [Line Items]
Form of consideration, equity	$ 16.6
Coupon rate	3.90%

SCHEDULE III - REAL ESTATE AN_2

SCHEDULE III - REAL ESTATE AND ACCUMULATED DEPRECIATION (Details) - USD ($) $ in Thousands	8 Months Ended	12 Months Ended
	Dec. 31, 2018	Apr. 30, 2018	Apr. 30, 2017	Apr. 30, 2016	Dec. 31, 2018	Apr. 30, 2018	Apr. 30, 2017	Apr. 30, 2016
Real Estate And Accumulated Depreciation [Abstract]
Encumbrances					$ 445,974
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate and Accumulated Depreciation, Initial Cost [Abstract]
Land					138,243
Buildings & Improvements					1,292,639
Costs capitalized subsequent to acquisition					202,055
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate, Gross [Abstract]
Land					161,965
Buildings & Improvements					1,470,972
Total	$ 1,632,937				1,632,937
Accumulated Depreciation	(311,324)	$ (255,599)	$ (237,859)	$ (212,826)	(353,871)	$ (311,324)	$ (255,599)	$ (237,859)
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate [Roll Forward]
Write down of asset and accumulated depreciation on impaired assets	0	(8,597)	(7,144)	0
Other	0	(74)	0	0
Balance at close of year	1,632,937
Total real estate investments					1,289,476	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	212,826
Additions during year [Abstract]
Provisions for depreciation	49,208	78,785	42,960	37,846
Deductions during year [Abstract]
Accumulated depreciation on real estate sold or classified as held for sale	(6,609)	(11,033)	(14,687)	(9,957)
Write down of asset and accumulated depreciation on impaired assets	0	(8,597)	(7,144)	0
Other	(52)	(3,430)	(3,389)	(2,856)
Balance at close of year	353,871	311,324	255,599	237,859
Net basis of real estate investments for federal income tax purposes					1,200,000	1,500,000	1,400,000	1,600,000
Unimproved Land
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					4,609
Buildings & Improvements					0
Costs capitalized subsequent to acquisition					692
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate, Gross [Abstract]
Land					5,301
Buildings & Improvements					0
Total	11,476	18,455	20,939	25,827	5,301	11,476	18,455	20,939
Accumulated Depreciation	0				0
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate [Roll Forward]
Balance at beginning of year	11,476	18,455	20,939	25,827
Improvements and Other	0	0	1,024	205
Cost of real estate sold	(4,954)	(1,000)	0	(442)
Impairment charge	(1,221)	(2,617)	(3,508)	(1,285)
Transfers	0	(3,288)	0	(1,632)
Development placed in service	0	0	0	(1,734)
Balance at close of year	5,301	11,476	18,455	20,939
Total real estate investments					1,279,066	1,369,916	1,121,385	1,204,654
Deductions during year [Abstract]
Balance at close of year	0
Unimproved Land | Creekside Crossing - Bismarck, 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					2,357
Buildings & Improvements					0
Costs capitalized subsequent to acquisition					692
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate, Gross [Abstract]
Land					3,049
Buildings & Improvements					0
Total	3,049				3,049
Accumulated Depreciation	0				0
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate [Roll Forward]
Balance at close of year	3,049
Deductions during year [Abstract]
Balance at close of year	0
Unimproved Land | Minot 1525 24th Ave SW - Minot, 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					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
Deductions during year [Abstract]
Balance at close of year	0
Unimproved Land | Rapid City - Rapid City, SD
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
Deductions during year [Abstract]
Balance at close of year	0
Unimproved Land | Weston - Weston, WI
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
Deductions during year [Abstract]
Balance at close of year	0
Wholly Owned Properties
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate, Gross [Abstract]
Total	1,669,764	1,358,529	1,369,893	1,090,362	1,627,636	1,669,764	1,358,529	1,369,893
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate [Roll Forward]
Balance at beginning of year	1,669,764	1,358,529	1,369,893	1,090,362
Improvements and Other	11,620	15,065	34,761	31,007
Total Additions	1,681,384	1,742,926	1,466,219	1,406,449
Cost of real estate sold	(53,653)	(46,001)	(21,601)	(1,305)
Impairment charge	0	(15,192)	(51,401)	0
Write down of asset and accumulated depreciation on impaired assets	0	(8,597)	(7,144)	0
Transfers	0	0	(24,156)	(26,373)
Other	(95)	(3,372)	(3,388)	(8,878)
Balance at close of year	1,627,636	1,669,764	1,358,529	1,369,893
Deductions during year [Abstract]
Write down of asset and accumulated depreciation on impaired assets	0	(8,597)	(7,144)	0
Development in Progress
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate, Gross [Abstract]
Total	0	0	51,681	153,994	0	$ 0	$ 0	$ 51,681
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate [Roll Forward]
Balance at beginning of year	0	0	51,681	153,994
Improvements and Other	0	0	7,762	48,109
Transfers	0	0	0	1,734
Development placed in service	0	0	(59,443)	(152,156)
Balance at close of year	0	$ 0	$ 0	51,681
Multi-Family Residential
Real Estate And Accumulated Depreciation [Abstract]
Encumbrances					445,974
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate and Accumulated Depreciation, Initial Cost [Abstract]
Land					130,603
Buildings & Improvements					1,260,439
Costs capitalized subsequent to acquisition					191,875
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate, Gross [Abstract]
Land					153,398
Buildings & Improvements					1,429,519
Total	1,582,917				1,582,917
Accumulated Depreciation	(340,081)				(340,081)
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate [Roll Forward]
Balance at close of year	1,582,917
Deductions during year [Abstract]
Balance at close of year	340,081
Multi-Family Residential | 71 France - Edina, MN
Real Estate And Accumulated Depreciation [Abstract]
Encumbrances					55,554
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					102
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate, Gross [Abstract]
Land					4,721
Buildings & Improvements					61,864
Total	66,585				66,585
Accumulated Depreciation	(7,861)				(7,861)
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate [Roll Forward]
Balance at close of year	66,585
Deductions during year [Abstract]
Balance at close of year	7,861
Multi-Family Residential | 71 France - Edina, MN | Minimum
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 | 71 France - Edina, MN | Maximum
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 | Alps Park - Rapid City, SD
Real Estate And Accumulated Depreciation [Abstract]
Encumbrances					3,543
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					370
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate, Gross [Abstract]
Land					333
Buildings & Improvements					5,875
Total	6,208				6,208
Accumulated Depreciation	(1,084)				(1,084)
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate [Roll Forward]
Balance at close of year	6,208
Deductions during year [Abstract]
Balance at close of year	1,084
Multi-Family Residential | Alps Park - Rapid City, SD | Minimum
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 | Alps Park - Rapid City, SD | Maximum
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 | Arbors - S Sioux City, NE
Real Estate And Accumulated Depreciation [Abstract]
Encumbrances					3,494
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					2,530
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate, Gross [Abstract]
Land					1,055
Buildings & Improvements					8,450
Total	9,505				9,505
Accumulated Depreciation	(3,328)				(3,328)
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate [Roll Forward]
Balance at close of year	9,505
Deductions during year [Abstract]
Balance at close of year	3,328
Multi-Family Residential | Arbors - S Sioux City, NE | Minimum
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 | Arbors - S Sioux City, NE | Maximum
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 | Arcata - Golden Valley, 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					2,088
Buildings & Improvements					31,036
Costs capitalized subsequent to acquisition					120
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate, Gross [Abstract]
Land					2,090
Buildings & Improvements					31,154
Total	33,244				33,244
Accumulated Depreciation	(5,281)				(5,281)
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate [Roll Forward]
Balance at close of year	33,244
Deductions during year [Abstract]
Balance at close of year	5,281
Multi-Family Residential | Arcata - Golden Valley, MN | Minimum
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 | Arcata - Golden Valley, MN | Maximum
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 | Ashland - Grand Forks, ND
Real Estate And Accumulated Depreciation [Abstract]
Encumbrances					5,115
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					293
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate, Gross [Abstract]
Land					803
Buildings & Improvements					7,800
Total	8,603				8,603
Accumulated Depreciation	(1,704)				(1,704)
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate [Roll Forward]
Balance at close of year	8,603
Deductions during year [Abstract]
Balance at close of year	1,704
Multi-Family Residential | Ashland - Grand Forks, ND | Minimum
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 | Ashland - Grand Forks, ND | Maximum
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 | 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					437
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate, Gross [Abstract]
Land					1,726
Buildings & Improvements					34,401
Total	36,127				36,127
Accumulated Depreciation	(3,237)				(3,237)
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate [Roll Forward]
Balance at close of year	36,127
Deductions during year [Abstract]
Balance at close of year	3,237
Multi-Family Residential | Avalon Cove - Rochester, MN | Minimum
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 | Avalon Cove - Rochester, MN | Maximum
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 | Boulder Court - Eagan, 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					1,067
Buildings & Improvements					5,498
Costs capitalized subsequent to acquisition					3,253
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate, Gross [Abstract]
Land					1,561
Buildings & Improvements					8,257
Total	9,818				9,818
Accumulated Depreciation	(3,613)				(3,613)
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate [Roll Forward]
Balance at close of year	9,818
Deductions during year [Abstract]
Balance at close of year	3,613
Multi-Family Residential | Boulder Court - Eagan, MN | Minimum
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 | Boulder Court - Eagan, MN | Maximum
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 | Brookfield Village - Topeka, KS
Real Estate And Accumulated Depreciation [Abstract]
Encumbrances					4,847
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					2,008
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate, Gross [Abstract]
Land					926
Buildings & Improvements					8,289
Total	9,215				9,215
Accumulated Depreciation	(3,418)				(3,418)
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate [Roll Forward]
Balance at close of year	9,215
Deductions during year [Abstract]
Balance at close of year	3,418
Multi-Family Residential | Brookfield Village - Topeka, KS | Minimum
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 | Brookfield Village - Topeka, KS | Maximum
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 | Canyon Lake - Rapid City, SD
Real Estate And Accumulated Depreciation [Abstract]
Encumbrances					2,636
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					2,411
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate, Gross [Abstract]
Land					398
Buildings & Improvements					6,276
Total	6,674				6,674
Accumulated Depreciation	(2,794)				(2,794)
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate [Roll Forward]
Balance at close of year	6,674
Deductions during year [Abstract]
Balance at close of year	2,794
Multi-Family Residential | Canyon Lake - Rapid City, SD | Minimum
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 | Canyon Lake - Rapid City, SD | Maximum
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 | 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					52
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate, Gross [Abstract]
Land					1,615
Buildings & Improvements					33,437
Total	35,052				35,052
Accumulated Depreciation	(700)				(700)
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate [Roll Forward]
Balance at close of year	35,052
Deductions during year [Abstract]
Balance at close of year	700
Multi-Family Residential | Cardinal Point - Grand Forks, ND | Minimum
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 | Cardinal Point - Grand Forks, ND | Maximum
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 | 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					88
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate, Gross [Abstract]
Land					1,586
Buildings & Improvements					16,797
Total	18,383				18,383
Accumulated Depreciation	(1,636)				(1,636)
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate [Roll Forward]
Balance at close of year	18,383
Deductions during year [Abstract]
Balance at close of year	1,636
Multi-Family Residential | Cascade Shores - Rochester, MN | Minimum
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 | Cascade Shores - Rochester, MN | Maximum
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 | Castlerock - Billings, MT
Real Estate And Accumulated Depreciation [Abstract]
Encumbrances					6,134
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					2,459
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate, Gross [Abstract]
Land					1,022
Buildings & Improvements					7,037
Total	8,059				8,059
Accumulated Depreciation	(3,879)				(3,879)
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate [Roll Forward]
Balance at close of year	8,059
Deductions during year [Abstract]
Balance at close of year	3,879
Multi-Family Residential | Castlerock - Billings, MT | Minimum
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 | Castlerock - Billings, MT | Maximum
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 | Chateau - Minot, 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					301
Buildings & Improvements					20,058
Costs capitalized subsequent to acquisition					940
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate, Gross [Abstract]
Land					326
Buildings & Improvements					20,973
Total	21,299				21,299
Accumulated Depreciation	(4,017)				(4,017)
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate [Roll Forward]
Balance at close of year	21,299
Deductions during year [Abstract]
Balance at close of year	4,017
Multi-Family Residential | Chateau - Minot, ND | Minimum
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 | Chateau - Minot, ND | Maximum
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 | Cimarron Hills - Omaha, NE
Real Estate And Accumulated Depreciation [Abstract]
Encumbrances					4,406
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					4,891
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate, Gross [Abstract]
Land					1,588
Buildings & Improvements					13,597
Total	15,185				15,185
Accumulated Depreciation	(6,732)				(6,732)
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate [Roll Forward]
Balance at close of year	15,185
Deductions during year [Abstract]
Balance at close of year	6,732
Multi-Family Residential | Cimarron Hills - Omaha, NE | Minimum
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 | Cimarron Hills - Omaha, NE | Maximum
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 | Colonial Villa - Burnsville, 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					2,401
Buildings & Improvements					11,515
Costs capitalized subsequent to acquisition					9,418
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate, Gross [Abstract]
Land					2,946
Buildings & Improvements					20,388
Total	23,334				23,334
Accumulated Depreciation	(9,557)				(9,557)
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate [Roll Forward]
Balance at close of year	23,334
Deductions during year [Abstract]
Balance at close of year	9,557
Multi-Family Residential | Colonial Villa - Burnsville, MN | Minimum
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 | Colonial Villa - Burnsville, MN | Maximum
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 | Colony - Lincoln, NE
Real Estate And Accumulated Depreciation [Abstract]
Encumbrances					12,251
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					1,656
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate, Gross [Abstract]
Land					1,771
Buildings & Improvements					17,130
Total	18,901				18,901
Accumulated Depreciation	(3,826)				(3,826)
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate [Roll Forward]
Balance at close of year	18,901
Deductions during year [Abstract]
Balance at close of year	3,826
Multi-Family Residential | Colony - Lincoln, NE | Minimum
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 | Colony - Lincoln, NE | Maximum
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 | Commons at Southgate - Minot, ND
Real Estate And Accumulated Depreciation [Abstract]
Encumbrances					25,655
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					1,460
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate, Gross [Abstract]
Land					6,333
Buildings & Improvements					48,584
Total	54,917				54,917
Accumulated Depreciation	(8,764)				(8,764)
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate [Roll Forward]
Balance at close of year	54,917
Deductions during year [Abstract]
Balance at close of year	8,764
Multi-Family Residential | Commons at Southgate - Minot, ND | Minimum
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 | Commons at Southgate - Minot, ND | Maximum
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 | Cottage West Twin Homes - Sioux Falls, SD
Real Estate And Accumulated Depreciation [Abstract]
Encumbrances					3,338
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					618
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate, Gross [Abstract]
Land					1,076
Buildings & Improvements					4,272
Total	5,348				5,348
Accumulated Depreciation	(943)				(943)
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate [Roll Forward]
Balance at close of year	5,348
Deductions during year [Abstract]
Balance at close of year	943
Multi-Family Residential | Cottage West Twin Homes - Sioux Falls, SD | Minimum
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 | Cottage West Twin Homes - Sioux Falls, SD | Maximum
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 | Cottonwood - Bismarck, 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					1,056
Buildings & Improvements					17,372
Costs capitalized subsequent to acquisition					5,583
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate, Gross [Abstract]
Land					1,625
Buildings & Improvements					22,386
Total	24,011				24,011
Accumulated Depreciation	(10,152)				(10,152)
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate [Roll Forward]
Balance at close of year	24,011
Deductions during year [Abstract]
Balance at close of year	10,152
Multi-Family Residential | Cottonwood - Bismarck, ND | Minimum
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 | Cottonwood - Bismarck, ND | Maximum
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 | Country Meadows - Billings, MT
Real Estate And Accumulated Depreciation [Abstract]
Encumbrances					6,062
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					1,789
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate, Gross [Abstract]
Land					575
Buildings & Improvements					9,514
Total	10,089				10,089
Accumulated Depreciation	(5,134)				(5,134)
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate [Roll Forward]
Balance at close of year	10,089
Deductions during year [Abstract]
Balance at close of year	5,134
Multi-Family Residential | Country Meadows - Billings, MT | Minimum
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 | Country Meadows - Billings, MT | Maximum
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 | Crestview - Bismarck, ND
Real Estate And Accumulated Depreciation [Abstract]
Encumbrances					3,511
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					2,301
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate, Gross [Abstract]
Land					607
Buildings & Improvements					6,219
Total	6,826				6,826
Accumulated Depreciation	(4,002)				(4,002)
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate [Roll Forward]
Balance at close of year	6,826
Deductions during year [Abstract]
Balance at close of year	4,002
Multi-Family Residential | Crestview - Bismarck, ND | Minimum
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 | Crestview - Bismarck, ND | Maximum
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 | Crown Colony - Topeka, KS
Real Estate And Accumulated Depreciation [Abstract]
Encumbrances					7,499
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					3,949
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate, Gross [Abstract]
Land					1,207
Buildings & Improvements					13,318
Total	14,525				14,525
Accumulated Depreciation	(6,541)				(6,541)
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate [Roll Forward]
Balance at close of year	14,525
Deductions during year [Abstract]
Balance at close of year	6,541
Multi-Family Residential | Crown Colony - Topeka, KS | Minimum
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 | Crown Colony - Topeka, KS | Maximum
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 | 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					272
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate, Gross [Abstract]
Land					436
Buildings & Improvements					11,694
Total	12,130				12,130
Accumulated Depreciation	(1,078)				(1,078)
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate [Roll Forward]
Balance at close of year	12,130
Deductions during year [Abstract]
Balance at close of year	1,078
Multi-Family Residential | Crystal Bay - Rochester, MN | Minimum
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 | Crystal Bay - Rochester, MN | Maximum
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 | Cypress Court - St. Cloud, MN
Real Estate And Accumulated Depreciation [Abstract]
Encumbrances					12,217
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					252
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate, Gross [Abstract]
Land					1,612
Buildings & Improvements					19,102
Total	20,714				20,714
Accumulated Depreciation	(3,508)				(3,508)
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate [Roll Forward]
Balance at close of year	20,714
Deductions during year [Abstract]
Balance at close of year	3,508
Multi-Family Residential | Cypress Court - St. Cloud, MN | Minimum
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 | Cypress Court - St. Cloud, MN | Maximum
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 | Deer Ridge - Jamestown, ND
Real Estate And Accumulated Depreciation [Abstract]
Encumbrances					11,001
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					201
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate, Gross [Abstract]
Land					738
Buildings & Improvements					24,303
Total	25,041				25,041
Accumulated Depreciation	(3,534)				(3,534)
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate [Roll Forward]
Balance at close of year	25,041
Deductions during year [Abstract]
Balance at close of year	3,534
Multi-Family Residential | Deer Ridge - Jamestown, ND | Minimum
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 | Deer Ridge - Jamestown, ND | Maximum
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 | Dylan - Denver Co
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					77,215
Costs capitalized subsequent to acquisition					572
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate, Gross [Abstract]
Land					12,155
Buildings & Improvements					77,787
Total	89,942				89,942
Accumulated Depreciation	(2,917)				(2,917)
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate [Roll Forward]
Balance at close of year	89,942
Deductions during year [Abstract]
Balance at close of year	2,917
Multi-Family Residential | Dylan - Denver Co | Minimum
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 | Dylan - Denver Co | Maximum
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 | Evergreen - Isanti, 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					1,129
Buildings & Improvements					5,524
Costs capitalized subsequent to acquisition					430
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate, Gross [Abstract]
Land					1,141
Buildings & Improvements					5,942
Total	7,083				7,083
Accumulated Depreciation	(1,528)				(1,528)
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate [Roll Forward]
Balance at close of year	7,083
Deductions during year [Abstract]
Balance at close of year	1,528
Multi-Family Residential | Evergreen - Isanti, MN | Minimum
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 | Evergreen - Isanti, MN | Maximum
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 | Forest Park - Grand Forks, ND
Real Estate And Accumulated Depreciation [Abstract]
Encumbrances					7,011
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					8,447
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate, Gross [Abstract]
Land					1,473
Buildings & Improvements					13,363
Total	14,836				14,836
Accumulated Depreciation	(7,928)				(7,928)
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate [Roll Forward]
Balance at close of year	14,836
Deductions during year [Abstract]
Balance at close of year	7,928
Multi-Family Residential | Forest Park - Grand Forks, ND | Minimum
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 | Forest Park - Grand Forks, ND | Maximum
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 | French Creek - 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					201
Buildings & Improvements					4,735
Costs capitalized subsequent to acquisition					217
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate, Gross [Abstract]
Land					207
Buildings & Improvements					4,946
Total	5,153				5,153
Accumulated Depreciation	(434)				(434)
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate [Roll Forward]
Balance at close of year	5,153
Deductions during year [Abstract]
Balance at close of year	434
Multi-Family Residential | French Creek - Rochester, MN | Minimum
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 | French Creek - Rochester, MN | Maximum
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 | Gables Townhomes - Sioux Falls, SD
Real Estate And Accumulated Depreciation [Abstract]
Encumbrances					1,351
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					257
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate, Gross [Abstract]
Land					400
Buildings & Improvements					2,127
Total	2,527				2,527
Accumulated Depreciation	(458)				(458)
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate [Roll Forward]
Balance at close of year	2,527
Deductions during year [Abstract]
Balance at close of year	458
Multi-Family Residential | Gables Townhomes - Sioux Falls, SD | Minimum
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 | Gables Townhomes - Sioux Falls, SD | Maximum
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 | Gardens - 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					518
Buildings & Improvements					8,702
Costs capitalized subsequent to acquisition					113
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate, Gross [Abstract]
Land					528
Buildings & Improvements					8,805
Total	9,333				9,333
Accumulated Depreciation	(1,017)				(1,017)
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate [Roll Forward]
Balance at close of year	9,333
Deductions during year [Abstract]
Balance at close of year	1,017
Multi-Family Residential | Gardens - Grand Forks, ND | Minimum
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 | Gardens - Grand Forks, ND | Maximum
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 | Grand Gateway - St. Cloud, 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					814
Buildings & Improvements					7,086
Costs capitalized subsequent to acquisition					1,888
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate, Gross [Abstract]
Land					961
Buildings & Improvements					8,827
Total	9,788				9,788
Accumulated Depreciation	(2,406)				(2,406)
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate [Roll Forward]
Balance at close of year	9,788
Deductions during year [Abstract]
Balance at close of year	2,406
Multi-Family Residential | Grand Gateway - St. Cloud, MN | Minimum
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 | Grand Gateway - St. Cloud, MN | Maximum
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 | GrandeVille at Cascade Lake - Rochester, MN
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					1,651
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate, Gross [Abstract]
Land					5,065
Buildings & Improvements					51,952
Total	57,017				57,017
Accumulated Depreciation	(5,814)				(5,814)
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate [Roll Forward]
Balance at close of year	57,017
Deductions during year [Abstract]
Balance at close of year	5,814
Multi-Family Residential | GrandeVille at Cascade Lake - Rochester, MN | Minimum
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 | GrandeVille at Cascade Lake - Rochester, MN | Maximum
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 | Greenfield - Omaha, NE
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					1,344
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate, Gross [Abstract]
Land					872
Buildings & Improvements					5,172
Total	6,044				6,044
Accumulated Depreciation	(1,799)				(1,799)
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate [Roll Forward]
Balance at close of year	6,044
Deductions during year [Abstract]
Balance at close of year	1,799
Multi-Family Residential | Greenfield - Omaha, NE | Minimum
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 | Greenfield - Omaha, NE | Maximum
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 | Heritage Manor - Rochester, MN
Real Estate And Accumulated Depreciation [Abstract]
Encumbrances					3,248
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					3,317
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate, Gross [Abstract]
Land					682
Buildings & Improvements					10,006
Total	10,688				10,688
Accumulated Depreciation	(5,251)				(5,251)
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate [Roll Forward]
Balance at close of year	10,688
Deductions during year [Abstract]
Balance at close of year	5,251
Multi-Family Residential | Heritage Manor - Rochester, MN | Minimum
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 | Heritage Manor - Rochester, MN | Maximum
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 | Homestead Garden - Rapid City, SD
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					655
Buildings & Improvements					14,139
Costs capitalized subsequent to acquisition					665
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate, Gross [Abstract]
Land					718
Buildings & Improvements					14,741
Total	15,459				15,459
Accumulated Depreciation	(2,195)				(2,195)
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate [Roll Forward]
Balance at close of year	15,459
Deductions during year [Abstract]
Balance at close of year	2,195
Multi-Family Residential | Homestead Garden - Rapid City, SD | Minimum
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 | Homestead Garden - Rapid City, SD | Maximum
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 | Indian Hills - Sioux City, IA
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					4,489
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate, Gross [Abstract]
Land					470
Buildings & Improvements					7,234
Total	7,704				7,704
Accumulated Depreciation	(2,361)				(2,361)
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate [Roll Forward]
Balance at close of year	7,704
Deductions during year [Abstract]
Balance at close of year	2,361
Multi-Family Residential | Indian Hills - Sioux City, IA | Minimum
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 | Indian Hills - Sioux City, IA | Maximum
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 | Kirkwood Manor - Bismarck, ND
Real Estate And Accumulated Depreciation [Abstract]
Encumbrances					3,039
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					1,950
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate, Gross [Abstract]
Land					625
Buildings & Improvements					4,499
Total	5,124				5,124
Accumulated Depreciation	(2,498)				(2,498)
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate [Roll Forward]
Balance at close of year	5,124
Deductions during year [Abstract]
Balance at close of year	2,498
Multi-Family Residential | Kirkwood Manor - Bismarck, ND | Minimum
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 | Kirkwood Manor - Bismarck, ND | Maximum
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 | Lakeside Village Lincoln, NE
Real Estate And Accumulated Depreciation [Abstract]
Encumbrances					12,111
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					1,202
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate, Gross [Abstract]
Land					1,348
Buildings & Improvements					16,906
Total	18,254				18,254
Accumulated Depreciation	(3,659)				(3,659)
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate [Roll Forward]
Balance at close of year	18,254
Deductions during year [Abstract]
Balance at close of year	3,659
Multi-Family Residential | Lakeside Village Lincoln, NE | Minimum
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 | Lakeside Village Lincoln, NE | Maximum
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 | Landmark - 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					184
Buildings & Improvements					1,514
Costs capitalized subsequent to acquisition					1,215
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate, Gross [Abstract]
Land					366
Buildings & Improvements					2,547
Total	2,913				2,913
Accumulated Depreciation	(1,492)				(1,492)
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate [Roll Forward]
Balance at close of year	2,913
Deductions during year [Abstract]
Balance at close of year	1,492
Multi-Family Residential | Landmark - Grand Forks, ND | Minimum
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 | Landmark - Grand Forks, ND | Maximum
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 | Legacy - Grand Forks, ND
Real Estate And Accumulated Depreciation [Abstract]
Encumbrances					14,031
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					10,479
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate, Gross [Abstract]
Land					2,263
Buildings & Improvements					31,305
Total	33,568				33,568
Accumulated Depreciation	(15,220)				(15,220)
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate [Roll Forward]
Balance at close of year	33,568
Deductions during year [Abstract]
Balance at close of year	15,220
Multi-Family Residential | Legacy - Grand Forks, ND | Minimum
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 | Legacy - Grand Forks, ND | Maximum
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 | Legacy Heights - Bismarck, 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					1,207
Buildings & Improvements					13,742
Costs capitalized subsequent to acquisition					419
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate, Gross [Abstract]
Land					1,307
Buildings & Improvements					14,061
Total	15,368				15,368
Accumulated Depreciation	(1,578)				(1,578)
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate [Roll Forward]
Balance at close of year	15,368
Deductions during year [Abstract]
Balance at close of year	1,578
Multi-Family Residential | Legacy Heights - Bismarck, ND | Minimum
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 | Legacy Heights - Bismarck, ND | Maximum
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 | Mariposa - Topeka, KS
Real Estate And Accumulated Depreciation [Abstract]
Encumbrances					2,715
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					1,041
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate, Gross [Abstract]
Land					455
Buildings & Improvements					6,095
Total	6,550				6,550
Accumulated Depreciation	(2,228)				(2,228)
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate [Roll Forward]
Balance at close of year	6,550
Deductions during year [Abstract]
Balance at close of year	2,228
Multi-Family Residential | Mariposa - Topeka, KS | Minimum
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 | Mariposa - Topeka, KS | Maximum
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 | Meadows - Jamestown, 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					590
Buildings & Improvements					4,519
Costs capitalized subsequent to acquisition					1,955
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate, Gross [Abstract]
Land					710
Buildings & Improvements					6,354
Total	7,064				7,064
Accumulated Depreciation	(3,091)				(3,091)
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate [Roll Forward]
Balance at close of year	7,064
Deductions during year [Abstract]
Balance at close of year	3,091
Multi-Family Residential | Meadows - Jamestown, ND | Minimum
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 | Meadows - Jamestown, ND | Maximum
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 | Monticello Crossings - Monticello, 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					1,734
Buildings & Improvements					30,136
Costs capitalized subsequent to acquisition					28
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate, Gross [Abstract]
Land					1,734
Buildings & Improvements					30,164
Total	31,898				31,898
Accumulated Depreciation	(2,648)				(2,648)
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate [Roll Forward]
Balance at close of year	31,898
Deductions during year [Abstract]
Balance at close of year	2,648
Multi-Family Residential | Monticello Crossings - Monticello, MN | Minimum
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 | Monticello Crossings - Monticello, MN | Maximum
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 | Monticello Village - Monticello, 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					490
Buildings & Improvements					3,756
Costs capitalized subsequent to acquisition					1,108
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate, Gross [Abstract]
Land					638
Buildings & Improvements					4,716
Total	5,354				5,354
Accumulated Depreciation	(1,922)				(1,922)
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate [Roll Forward]
Balance at close of year	5,354
Deductions during year [Abstract]
Balance at close of year	1,922
Multi-Family Residential | Monticello Village - Monticello, MN | Minimum
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 | Monticello Village - Monticello, MN | Maximum
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 | North Pointe - Bismarck, ND
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					303
Buildings & Improvements					3,957
Costs capitalized subsequent to acquisition					1,359
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate, Gross [Abstract]
Land					384
Buildings & Improvements					5,235
Total	5,619				5,619
Accumulated Depreciation	(2,331)				(2,331)
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate [Roll Forward]
Balance at close of year	5,619
Deductions during year [Abstract]
Balance at close of year	2,331
Multi-Family Residential | North Pointe - Bismarck, ND | Minimum
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 | North Pointe - Bismarck, ND | Maximum
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 | Northridge - Bismarck, 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					884
Buildings & Improvements					7,515
Costs capitalized subsequent to acquisition					191
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate, Gross [Abstract]
Land					974
Buildings & Improvements					7,616
Total	8,590				8,590
Accumulated Depreciation	(1,041)				(1,041)
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate [Roll Forward]
Balance at close of year	8,590
Deductions during year [Abstract]
Balance at close of year	1,041
Multi-Family Residential | Northridge - Bismarck, ND | Minimum
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 | Northridge - Bismarck, ND | Maximum
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 | Oakmont Estates - Sioux Falls, SD
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					1,404
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate, Gross [Abstract]
Land					711
Buildings & Improvements					5,953
Total	6,664				6,664
Accumulated Depreciation	(2,664)				(2,664)
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate [Roll Forward]
Balance at close of year	6,664
Deductions during year [Abstract]
Balance at close of year	2,664
Multi-Family Residential | Oakmont Estates - Sioux Falls, SD | Minimum
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 | Oakmont Estates - Sioux Falls, SD | Maximum
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 | Oakwood Estates - Sioux Falls, SD
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					4,828
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate, Gross [Abstract]
Land					868
Buildings & Improvements					7,287
Total	8,155				8,155
Accumulated Depreciation	(5,235)				(5,235)
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate [Roll Forward]
Balance at close of year	8,155
Deductions during year [Abstract]
Balance at close of year	5,235
Multi-Family Residential | Oakwood Estates - Sioux Falls, SD | Minimum
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 | Oakwood Estates - Sioux Falls, SD | Maximum
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 | Olympic Village - Billings, MT
Real Estate And Accumulated Depreciation [Abstract]
Encumbrances					9,777
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					4,033
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate, Gross [Abstract]
Land					1,829
Buildings & Improvements					13,809
Total	15,638				15,638
Accumulated Depreciation	(6,978)				(6,978)
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate [Roll Forward]
Balance at close of year	15,638
Deductions during year [Abstract]
Balance at close of year	6,978
Multi-Family Residential | Olympic Village - Billings, MT | Minimum
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 | Olympic Village - Billings, MT | Maximum
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 | Olympik Village - Rochester, MN
Real Estate And Accumulated Depreciation [Abstract]
Encumbrances					3,895
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					2,718
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate, Gross [Abstract]
Land					1,368
Buildings & Improvements					8,493
Total	9,861				9,861
Accumulated Depreciation	(3,336)				(3,336)
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate [Roll Forward]
Balance at close of year	9,861
Deductions during year [Abstract]
Balance at close of year	3,336
Multi-Family Residential | Olympik Village - Rochester, MN | Minimum
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 | Olympik Village - Rochester, MN | Maximum
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 | Oxbo - St Paul, 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					5,809
Buildings & Improvements					51,586
Costs capitalized subsequent to acquisition					167
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate, Gross [Abstract]
Land					5,879
Buildings & Improvements					51,683
Total	57,562				57,562
Accumulated Depreciation	(3,093)				(3,093)
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate [Roll Forward]
Balance at close of year	57,562
Deductions during year [Abstract]
Balance at close of year	3,093
Multi-Family Residential | Oxbo - St Paul, MN | Minimum
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 | Oxbo - St Paul, MN | Maximum
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 | Oxbow Park - Sioux Falls, SD
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					3,738
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate, Gross [Abstract]
Land					993
Buildings & Improvements					6,301
Total	7,294				7,294
Accumulated Depreciation	(4,496)				(4,496)
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate [Roll Forward]
Balance at close of year	7,294
Deductions during year [Abstract]
Balance at close of year	4,496
Multi-Family Residential | Oxbow Park - Sioux Falls, SD | Minimum
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 | Oxbow Park - Sioux Falls, SD | Maximum
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 | Park Meadows - Waite Park, MN
Real Estate And Accumulated Depreciation [Abstract]
Encumbrances					7,934
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					9,999
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate, Gross [Abstract]
Land					2,121
Buildings & Improvements					18,120
Total	20,241				20,241
Accumulated Depreciation	(9,812)				(9,812)
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate [Roll Forward]
Balance at close of year	20,241
Deductions during year [Abstract]
Balance at close of year	9,812
Multi-Family Residential | Park Meadows - Waite Park, MN | Minimum
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 | Park Meadows - Waite Park, MN | Maximum
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 | Park Place - Plymouth, 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					10,609
Buildings & Improvements					80,781
Costs capitalized subsequent to acquisition					3,471
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate, Gross [Abstract]
Land					10,623
Buildings & Improvements					84,238
Total	94,861				94,861
Accumulated Depreciation	(3,892)				(3,892)
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate [Roll Forward]
Balance at close of year	94,861
Deductions during year [Abstract]
Balance at close of year	3,892
Multi-Family Residential | Park Place - Plymouth, MN | Minimum
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 | Park Place - Plymouth, MN | Maximum
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 | Pebble Springs - Bismarck, 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					7
Buildings & Improvements					748
Costs capitalized subsequent to acquisition					236
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate, Gross [Abstract]
Land					65
Buildings & Improvements					926
Total	991				991
Accumulated Depreciation	(497)				(497)
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate [Roll Forward]
Balance at close of year	991
Deductions during year [Abstract]
Balance at close of year	497
Multi-Family Residential | Pebble Springs - Bismarck, ND | Minimum
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 | Pebble Springs - Bismarck, ND | Maximum
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 | Pinehurst - Billings, MT
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					523
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate, Gross [Abstract]
Land					168
Buildings & Improvements					1,114
Total	1,282				1,282
Accumulated Depreciation	(493)				(493)
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate [Roll Forward]
Balance at close of year	1,282
Deductions during year [Abstract]
Balance at close of year	493
Multi-Family Residential | Pinehurst - Billings, MT | Minimum
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 | Pinehurst - Billings, MT | Maximum
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 | Plaza - Minot, 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					867
Buildings & Improvements					12,784
Costs capitalized subsequent to acquisition					3,046
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate, Gross [Abstract]
Land					998
Buildings & Improvements					15,699
Total	16,697				16,697
Accumulated Depreciation	(4,410)				(4,410)
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate [Roll Forward]
Balance at close of year	16,697
Deductions during year [Abstract]
Balance at close of year	4,410
Multi-Family Residential | Plaza - Minot, ND | Minimum
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 | Plaza - Minot, ND | Maximum
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 | Pointe West - Rapid City, SD
Real Estate And Accumulated Depreciation [Abstract]
Encumbrances					2,393
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					2,095
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate, Gross [Abstract]
Land					431
Buildings & Improvements					5,442
Total	5,873				5,873
Accumulated Depreciation	(3,253)				(3,253)
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate [Roll Forward]
Balance at close of year	5,873
Deductions during year [Abstract]
Balance at close of year	3,253
Multi-Family Residential | Pointe West - Rapid City, SD | Minimum
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 | Pointe West - Rapid City, SD | Maximum
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 | Ponds at Heritage Place - Sartell, 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					395
Buildings & Improvements					4,564
Costs capitalized subsequent to acquisition					446
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate, Gross [Abstract]
Land					413
Buildings & Improvements					4,992
Total	5,405				5,405
Accumulated Depreciation	(1,098)				(1,098)
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate [Roll Forward]
Balance at close of year	5,405
Deductions during year [Abstract]
Balance at close of year	1,098
Multi-Family Residential | Ponds at Heritage Place - Sartell, MN | Minimum
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 | Ponds at Heritage Place - Sartell, MN | Maximum
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 | Prairie Winds - Sioux Falls, SD
Real Estate And Accumulated Depreciation [Abstract]
Encumbrances					1,292
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					739
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate, Gross [Abstract]
Land					309
Buildings & Improvements					2,390
Total	2,699				2,699
Accumulated Depreciation	(1,589)				(1,589)
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate [Roll Forward]
Balance at close of year	2,699
Deductions during year [Abstract]
Balance at close of year	1,589
Multi-Family Residential | Prairie Winds - Sioux Falls, SD | Minimum
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 | Prairie Winds - Sioux Falls, SD | Maximum
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 | Quarry Ridge - Rochester, MN
Real Estate And Accumulated Depreciation [Abstract]
Encumbrances					25,277
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					2,092
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate, Gross [Abstract]
Land					2,406
Buildings & Improvements					31,964
Total	34,370				34,370
Accumulated Depreciation	(8,553)				(8,553)
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate [Roll Forward]
Balance at close of year	34,370
Deductions during year [Abstract]
Balance at close of year	8,553
Multi-Family Residential | Quarry Ridge - Rochester, MN | Minimum
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 | Quarry Ridge - Rochester, MN | Maximum
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 | Red 20 - Minneapolis, MN
Real Estate And Accumulated Depreciation [Abstract]
Encumbrances					22,219
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					185
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate, Gross [Abstract]
Land					1,908
Buildings & Improvements					24,293
Total	26,201				26,201
Accumulated Depreciation	(4,221)				(4,221)
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate [Roll Forward]
Balance at close of year	26,201
Deductions during year [Abstract]
Balance at close of year	4,221
Multi-Family Residential | Red 20 - Minneapolis, MN | Minimum
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 | Red 20 - Minneapolis, MN | Maximum
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 | Regency Park Estates - St. Cloud, MN
Real Estate And Accumulated Depreciation [Abstract]
Encumbrances					7,838
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					2,455
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate, Gross [Abstract]
Land					1,060
Buildings & Improvements					12,295
Total	13,355				13,355
Accumulated Depreciation	(3,121)				(3,121)
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate [Roll Forward]
Balance at close of year	13,355
Deductions during year [Abstract]
Balance at close of year	3,121
Multi-Family Residential | Regency Park Estates - St. Cloud, MN | Minimum
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 | Regency Park Estates - St. Cloud, MN | Maximum
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 | Ridge Oaks - Sioux City, IA
Real Estate And Accumulated Depreciation [Abstract]
Encumbrances					3,131
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					3,007
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate, Gross [Abstract]
Land					318
Buildings & Improvements					6,940
Total	7,258				7,258
Accumulated Depreciation	(3,250)				(3,250)
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate [Roll Forward]
Balance at close of year	7,258
Deductions during year [Abstract]
Balance at close of year	3,250
Multi-Family Residential | Ridge Oaks - Sioux City, IA | Minimum
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 | Ridge Oaks - Sioux City, IA | Maximum
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 | Rimrock West - Billings, MT
Real Estate And Accumulated Depreciation [Abstract]
Encumbrances					3,046
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					2,062
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate, Gross [Abstract]
Land					516
Buildings & Improvements					5,365
Total	5,881				5,881
Accumulated Depreciation	(2,647)				(2,647)
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate [Roll Forward]
Balance at close of year	5,881
Deductions during year [Abstract]
Balance at close of year	2,647
Multi-Family Residential | Rimrock West - Billings, MT | Minimum
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 | Rimrock West - Billings, MT | Maximum
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 | River Ridge - Bismarck, 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					576
Buildings & Improvements					24,670
Costs capitalized subsequent to acquisition					899
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate, Gross [Abstract]
Land					793
Buildings & Improvements					25,352
Total	26,145				26,145
Accumulated Depreciation	(5,598)				(5,598)
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate [Roll Forward]
Balance at close of year	26,145
Deductions during year [Abstract]
Balance at close of year	5,598
Multi-Family Residential | River Ridge - Bismarck, ND | Minimum
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 | River Ridge - Bismarck, ND | Maximum
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 | Rocky Meadows - Billings, MT
Real Estate And Accumulated Depreciation [Abstract]
Encumbrances					4,722
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					1,617
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate, Gross [Abstract]
Land					815
Buildings & Improvements					7,184
Total	7,999				7,999
Accumulated Depreciation	(4,087)				(4,087)
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate [Roll Forward]
Balance at close of year	7,999
Deductions during year [Abstract]
Balance at close of year	4,087
Multi-Family Residential | Rocky Meadows - Billings, MT | Minimum
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 | Rocky Meadows - Billings, MT | Maximum
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 | Rum River - Isanti, MN
Real Estate And Accumulated Depreciation [Abstract]
Encumbrances					3,235
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					463
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate, Gross [Abstract]
Land					864
Buildings & Improvements					5,265
Total	6,129				6,129
Accumulated Depreciation	(1,700)				(1,700)
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate [Roll Forward]
Balance at close of year	6,129
Deductions during year [Abstract]
Balance at close of year	1,700
Multi-Family Residential | Rum River - Isanti, MN | Minimum
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 | Rum River - Isanti, MN | Maximum
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 | Sherwood - Topeka, KS
Real Estate And Accumulated Depreciation [Abstract]
Encumbrances					11,268
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					5,327
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate, Gross [Abstract]
Land					2,159
Buildings & Improvements					18,994
Total	21,153				21,153
Accumulated Depreciation	(9,478)				(9,478)
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate [Roll Forward]
Balance at close of year	21,153
Deductions during year [Abstract]
Balance at close of year	9,478
Multi-Family Residential | Sherwood - Topeka, KS | Minimum
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 | Sherwood - Topeka, KS | Maximum
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 | Sierra Vista - Sioux Falls, SD
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					596
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate, Gross [Abstract]
Land					291
Buildings & Improvements					2,643
Total	2,934				2,934
Accumulated Depreciation	(662)				(662)
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate [Roll Forward]
Balance at close of year	2,934
Deductions during year [Abstract]
Balance at close of year	662
Multi-Family Residential | Sierra Vista - Sioux Falls, SD | Minimum
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 | Sierra Vista - Sioux Falls, SD | Maximum
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 | Silver Springs - Rapid City, SD
Real Estate And Accumulated Depreciation [Abstract]
Encumbrances					2,088
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					724
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate, Gross [Abstract]
Land					257
Buildings & Improvements					3,689
Total	3,946				3,946
Accumulated Depreciation	(574)				(574)
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate [Roll Forward]
Balance at close of year	3,946
Deductions during year [Abstract]
Balance at close of year	574
Multi-Family Residential | Silver Springs - Rapid City, SD | Minimum
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 | Silver Springs - Rapid City, SD | Maximum
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 | South Pointe - Minot, ND
Real Estate And Accumulated Depreciation [Abstract]
Encumbrances					7,871
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					5,638
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate, Gross [Abstract]
Land					1,373
Buildings & Improvements					14,363
Total	15,736				15,736
Accumulated Depreciation	(8,222)				(8,222)
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate [Roll Forward]
Balance at close of year	15,736
Deductions during year [Abstract]
Balance at close of year	8,222
Multi-Family Residential | South Pointe - Minot, ND | Minimum
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 | South Pointe - Minot, ND | Maximum
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 | Southpoint - 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					576
Buildings & Improvements					9,893
Costs capitalized subsequent to acquisition					169
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate, Gross [Abstract]
Land					633
Buildings & Improvements					10,005
Total	10,638				10,638
Accumulated Depreciation	(1,548)				(1,548)
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate [Roll Forward]
Balance at close of year	10,638
Deductions during year [Abstract]
Balance at close of year	1,548
Multi-Family Residential | Southpoint - Grand Forks, ND | Minimum
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 | Southpoint - Grand Forks, ND | Maximum
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 | Southwind - Grand Forks, ND
Real Estate And Accumulated Depreciation [Abstract]
Encumbrances					5,031
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate and Accumulated Depreciation, Initial Cost [Abstract]
Land					400
Buildings & Improvements					4,938
Costs capitalized subsequent to acquisition					4,119
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate, Gross [Abstract]
Land					827
Buildings & Improvements					8,630
Total	9,457				9,457
Accumulated Depreciation	(4,988)				(4,988)
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate [Roll Forward]
Balance at close of year	9,457
Deductions during year [Abstract]
Balance at close of year	4,988
Multi-Family Residential | Southwind - Grand Forks, ND | Minimum
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 | Southwind - Grand Forks, ND | Maximum
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 | Sunset Trail - Rochester, MN
Real Estate And Accumulated Depreciation [Abstract]
Encumbrances					7,476
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					3,283
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate, Gross [Abstract]
Land					720
Buildings & Improvements					15,713
Total	16,433				16,433
Accumulated Depreciation	(7,608)				(7,608)
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate [Roll Forward]
Balance at close of year	16,433
Deductions during year [Abstract]
Balance at close of year	7,608
Multi-Family Residential | Sunset Trail - Rochester, MN | Minimum
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 | Sunset Trail - Rochester, MN | Maximum
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 | Thomasbrook - Lincoln, NE
Real Estate And Accumulated Depreciation [Abstract]
Encumbrances					5,496
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					5,329
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate, Gross [Abstract]
Land					1,646
Buildings & Improvements					14,589
Total	16,235				16,235
Accumulated Depreciation	(6,829)				(6,829)
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate [Roll Forward]
Balance at close of year	16,235
Deductions during year [Abstract]
Balance at close of year	6,829
Multi-Family Residential | Thomasbrook - Lincoln, NE | Minimum
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 | Thomasbrook - Lincoln, NE | Maximum
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 | Valley Park - Grand Forks, ND
Real Estate And Accumulated Depreciation [Abstract]
Encumbrances					3,555
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					4,049
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate, Gross [Abstract]
Land					1,223
Buildings & Improvements					7,257
Total	8,480				8,480
Accumulated Depreciation	(4,072)				(4,072)
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate [Roll Forward]
Balance at close of year	8,480
Deductions during year [Abstract]
Balance at close of year	4,072
Multi-Family Residential | Valley Park - Grand Forks, ND | Minimum
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 | Valley Park - Grand Forks, ND | Maximum
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 | Villa West - Topeka, KS
Real Estate And Accumulated Depreciation [Abstract]
Encumbrances					11,381
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					1,882
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate, Gross [Abstract]
Land					2,338
Buildings & Improvements					16,894
Total	19,232				19,232
Accumulated Depreciation	(3,787)				(3,787)
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate [Roll Forward]
Balance at close of year	19,232
Deductions during year [Abstract]
Balance at close of year	3,787
Multi-Family Residential | Villa West - Topeka, KS | Minimum
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 | Villa West - Topeka, KS | Maximum
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 | Village Green - 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					234
Buildings & Improvements					2,296
Costs capitalized subsequent to acquisition					1,068
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate, Gross [Abstract]
Land					359
Buildings & Improvements					3,239
Total	3,598				3,598
Accumulated Depreciation	(1,394)				(1,394)
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate [Roll Forward]
Balance at close of year	3,598
Deductions during year [Abstract]
Balance at close of year	1,394
Multi-Family Residential | Village Green - Rochester, MN | Minimum
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 | Village Green - Rochester, MN | Maximum
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 | Westend - Denver CO
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					174
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate, Gross [Abstract]
Land					25,525
Buildings & Improvements					102,354
Total	127,879				127,879
Accumulated Depreciation	(2,848)				(2,848)
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate [Roll Forward]
Balance at close of year	127,879
Deductions during year [Abstract]
Balance at close of year	2,848
Multi-Family Residential | Westend - Denver CO | Minimum
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 | Westend - Denver CO | Maximum
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 | West Stonehill - Waite Park, MN
Real Estate And Accumulated Depreciation [Abstract]
Encumbrances					7,720
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					7,836
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate, Gross [Abstract]
Land					1,914
Buildings & Improvements					17,028
Total	18,942				18,942
Accumulated Depreciation	(9,874)				(9,874)
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate [Roll Forward]
Balance at close of year	18,942
Deductions during year [Abstract]
Balance at close of year	9,874
Multi-Family Residential | West Stonehill - Waite Park, MN | Minimum
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 | West Stonehill - Waite Park, MN | Maximum
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 | Westwood Park - Bismarck, ND
Real Estate And Accumulated Depreciation [Abstract]
Encumbrances					1,814
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					2,063
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate, Gross [Abstract]
Land					293
Buildings & Improvements					3,795
Total	4,088				4,088
Accumulated Depreciation	(2,114)				(2,114)
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate [Roll Forward]
Balance at close of year	4,088
Deductions during year [Abstract]
Balance at close of year	2,114
Multi-Family Residential | Westwood Park - Bismarck, ND | Minimum
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 | Westwood Park - Bismarck, ND | Maximum
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 | Whispering Ridge - Omaha, NE
Real Estate And Accumulated Depreciation [Abstract]
Encumbrances					20,561
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					1,693
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate, Gross [Abstract]
Land					2,438
Buildings & Improvements					26,818
Total	29,256				29,256
Accumulated Depreciation	(5,317)				(5,317)
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate [Roll Forward]
Balance at close of year	29,256
Deductions during year [Abstract]
Balance at close of year	5,317
Multi-Family Residential | Whispering Ridge - Omaha, NE | Minimum
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 | Whispering Ridge - Omaha, NE | Maximum
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 | Winchester - 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					748
Buildings & Improvements					5,622
Costs capitalized subsequent to acquisition					2,554
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate, Gross [Abstract]
Land					1,044
Buildings & Improvements					7,880
Total	8,924				8,924
Accumulated Depreciation	(3,536)				(3,536)
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate [Roll Forward]
Balance at close of year	8,924
Deductions during year [Abstract]
Balance at close of year	3,536
Multi-Family Residential | Winchester - Rochester, MN | Minimum
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 | Winchester - Rochester, MN | Maximum
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 | Woodridge - Rochester, MN
Real Estate And Accumulated Depreciation [Abstract]
Encumbrances					5,610
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					3,358
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate, Gross [Abstract]
Land					750
Buildings & Improvements					9,006
Total	9,756				9,756
Accumulated Depreciation	(5,068)				(5,068)
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate [Roll Forward]
Balance at close of year	9,756
Deductions during year [Abstract]
Balance at close of year	5,068
Multi-Family Residential | Woodridge - Rochester, MN | Minimum
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 | Woodridge - Rochester, MN | Maximum
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 | Wholly Owned Properties
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate [Roll Forward]
Additions	0	$ 369,332	$ 61,565	$ 285,080
Other - Mixed Use
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					389
Buildings & Improvements					17,320
Costs capitalized subsequent to acquisition					5,012
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate, Gross [Abstract]
Land					598
Buildings & Improvements					22,123
Total	22,721				22,721
Accumulated Depreciation	(4,674)				(4,674)
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate [Roll Forward]
Balance at close of year	22,721
Deductions during year [Abstract]
Balance at close of year	4,674
Other - Mixed Use | 71 France - Edina, 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					0
Buildings & Improvements					5,879
Costs capitalized subsequent to acquisition					775
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate, Gross [Abstract]
Land					0
Buildings & Improvements					6,654
Total	6,654				6,654
Accumulated Depreciation	(585)				(585)
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate [Roll Forward]
Balance at close of year	6,654
Deductions during year [Abstract]
Balance at close of year	585
Other - Mixed Use | 71 France - Edina, MN | Minimum
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 | 71 France - Edina, MN | Maximum
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 | Oxbo - St Paul, 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					0
Buildings & Improvements					3,472
Costs capitalized subsequent to acquisition					54
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate, Gross [Abstract]
Land					0
Buildings & Improvements					3,526
Total	3,526				3,526
Accumulated Depreciation	(194)				(194)
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate [Roll Forward]
Balance at close of year	3,526
Deductions during year [Abstract]
Balance at close of year	194
Other - Mixed Use | Oxbo - St Paul, MN | Minimum
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 | Oxbo - St Paul, MN | Maximum
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 | Plaza - Minot, 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					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	(3,494)				(3,494)
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate [Roll Forward]
Balance at close of year	9,597
Deductions during year [Abstract]
Balance at close of year	3,494
Other - Mixed Use | Plaza - Minot, ND | Minimum
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 | Plaza - Minot, ND | Maximum
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 | Red 20 - Minneapolis, 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					0
Buildings & Improvements					2,525
Costs capitalized subsequent to acquisition					419
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate, Gross [Abstract]
Land					0
Buildings & Improvements					2,944
Total	2,944				2,944
Accumulated Depreciation	(401)				(401)
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate [Roll Forward]
Balance at close of year	2,944
Deductions during year [Abstract]
Balance at close of year	401
Other - Mixed Use | Red 20 - Minneapolis, MN | Minimum
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 | Red 20 - Minneapolis, MN | Maximum
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
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					2,642
Buildings & Improvements					14,880
Costs capitalized subsequent to acquisition					4,476
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate, Gross [Abstract]
Land					2,668
Buildings & Improvements					19,330
Total	21,998				21,998
Accumulated Depreciation	(9,116)				(9,116)
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate [Roll Forward]
Balance at close of year	21,998
Deductions during year [Abstract]
Balance at close of year	9,116
Other - Commercial | Dakota West Plaza - Minot , 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					92
Buildings & Improvements					493
Costs capitalized subsequent to acquisition					39
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate, Gross [Abstract]
Land					106
Buildings & Improvements					518
Total	624				624
Accumulated Depreciation	(185)				(185)
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate [Roll Forward]
Balance at close of year	624
Deductions during year [Abstract]
Balance at close of year	185
Other - Commercial | Dakota West Plaza - Minot , ND | Minimum
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 | Dakota West Plaza - Minot , ND | Maximum
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 | Minot 1400 31st Ave - Minot, 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					1,026
Buildings & Improvements					6,143
Costs capitalized subsequent to acquisition					4,437
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate, Gross [Abstract]
Land					1,038
Buildings & Improvements					10,568
Total	11,606				11,606
Accumulated Depreciation	(5,485)				(5,485)
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate [Roll Forward]
Balance at close of year	11,606
Deductions during year [Abstract]
Balance at close of year	5,485
Other - Commercial | Minot 1400 31st Ave - Minot, ND | Minimum
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 | Minot 1400 31st Ave - Minot, ND | Maximum
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 | Minot IPS - Minot, 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					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	(3,399)				(3,399)
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate [Roll Forward]
Balance at close of year	6,368
Deductions during year [Abstract]
Balance at close of year	3,399
Other - Commercial | Minot IPS - Minot, ND | Minimum
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 | Minot IPS - Minot, ND | Maximum
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 | Woodbury 1865 Woodlane - Woodbury, 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					1,108
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	(47)				(47)
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate [Roll Forward]
Balance at close of year	3,400
Deductions during year [Abstract]
Balance at close of year	47
Other - Commercial | Woodbury 1865 Woodlane - Woodbury, MN | Minimum
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 | Woodbury 1865 Woodlane - Woodbury, MN | Maximum
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
Real Estate And Accumulated Depreciation [Abstract]
Encumbrances					445,974
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate and Accumulated Depreciation, Initial Cost [Abstract]
Land					133,634
Buildings & Improvements					1,292,639
Costs capitalized subsequent to acquisition					201,363
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate, Gross [Abstract]
Land					156,664
Buildings & Improvements					1,470,972
Total	1,627,636				1,627,636
Accumulated Depreciation	(353,871)				$ (353,871)
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate [Roll Forward]
Balance at close of year	1,627,636
Deductions during year [Abstract]
Balance at close of year	$ 353,871

Uncategorized Items - iret-2018

Label	Element	Value
Stockholders' Equity, Including Portion Attributable to Noncontrolling Interest, Adjusted Balance	us-gaap_StockholdersEquityIncludingPortionAttributableToNoncontrollingInterestAdjustedBalance1	$ 688,190,000
Cumulative Effect of New Accounting Principle in Period of Adoption	us-gaap_CumulativeEffectOfNewAccountingPrincipleInPeriodOfAdoption	627,000
Previously Reported [Member]
Cash and Cash Equivalents, at Carrying Value	us-gaap_CashAndCashEquivalentsAtCarryingValue	66,698,000
Cash and Cash Equivalents, at Carrying Value	us-gaap_CashAndCashEquivalentsAtCarryingValue	28,819,000
Cash, Cash Equivalents, Restricted Cash and Restricted Cash Equivalents	us-gaap_CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents	0
Cash, Cash Equivalents, Restricted Cash and Restricted Cash Equivalents	us-gaap_CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents	0
Retained Earnings [Member]
Stockholders' Equity, Including Portion Attributable to Noncontrolling Interest, Adjusted Balance	us-gaap_StockholdersEquityIncludingPortionAttributableToNoncontrollingInterestAdjustedBalance1	(395,042,000)
Cumulative Effect of New Accounting Principle in Period of Adoption	us-gaap_CumulativeEffectOfNewAccountingPrincipleInPeriodOfAdoption	$ 627,000
Common Stock [Member]
Shares, Issued	us-gaap_SharesIssued	11,953,000
Stockholders' Equity, Including Portion Attributable to Noncontrolling Interest, Adjusted Balance	us-gaap_StockholdersEquityIncludingPortionAttributableToNoncontrollingInterestAdjustedBalance1	$ 900,097,000
Comprehensive Income [Member]
Stockholders' Equity, Including Portion Attributable to Noncontrolling Interest, Adjusted Balance	us-gaap_StockholdersEquityIncludingPortionAttributableToNoncontrollingInterestAdjustedBalance1	1,779,000
Noncontrolling Interest [Member]
Stockholders' Equity, Including Portion Attributable to Noncontrolling Interest, Adjusted Balance	us-gaap_StockholdersEquityIncludingPortionAttributableToNoncontrollingInterestAdjustedBalance1	81,900,000
Preferred Stock [Member]
Stockholders' Equity, Including Portion Attributable to Noncontrolling Interest, Adjusted Balance	us-gaap_StockholdersEquityIncludingPortionAttributableToNoncontrollingInterestAdjustedBalance1	99,456,000
Accounting Standards Update 2016-15 And Accounting Standards Update 2016-18 [Member] | Restatement Adjustment [Member]
Cash and Cash Equivalents, at Carrying Value	us-gaap_CashAndCashEquivalentsAtCarryingValue	(66,698,000)
Cash and Cash Equivalents, at Carrying Value	us-gaap_CashAndCashEquivalentsAtCarryingValue	(28,819,000)
Cash, Cash Equivalents, Restricted Cash and Restricted Cash Equivalents	us-gaap_CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents	71,508,000
Cash, Cash Equivalents, Restricted Cash and Restricted Cash Equivalents	us-gaap_CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents	$ 56,800,000