MORTGAGE NOTES PAYABLE, BANK LINES OF CREDIT AND OTHER LOANS	9 Months Ended
Jul. 31, 2016
MORTGAGE NOTES PAYABLE, BANK LINES OF CREDIT AND OTHER LOANS [Abstract]
MORTGAGE NOTES PAYABLE, BANK LINES OF CREDIT AND OTHER LOANS	(3) MORTGAGE NOTES PAYABLE, BANK LINES OF CREDIT AND OTHER LOANS The Company has an $80 million unsecured revolving credit facility with a syndicate of four banks led by The Bank of New York Mellon, as administrative agent. The syndicate includes Wells Fargo Bank N.A. (syndication agent), Bank of Montreal and Regions Bank (co-documentation agents). The Facility gives the Company the option, under certain conditions, to increase the Facility's borrowing capacity up to $125 million (subject to lender approval). The maturity date of the Facility is September 21, 2016 with a one-year extension at the Company's option. Borrowings under the Facility can be used for, among other things, acquisitions, working capital, capital expenditures, and repayment of other indebtedness and the issuance of letters of credit (up to $10 million). Borrowings will bear interest at the Company's option of Eurodollar rate plus 1.5% to 2.0% or The Bank of New York Mellon's prime lending rate plus 0.50% based on consolidated indebtedness, as defined. The Company pays an annual fee on the unused commitment amount of 0.25% to 0.35% based on outstanding borrowings during the year. The Facility contains certain representations, financial and other covenants typical for this type of facility. The Company's ability to borrow under the Facility is subject to its compliance with the covenants and other restrictions on an ongoing basis. The principal financial covenants limit the Company's level of secured and unsecured indebtedness and additionally require the Company to maintain certain debt coverage ratios. The Company was in compliance with such covenants at July 31, 2016. During the nine months ended July 31, 2016, the Company borrowed $44.0 million on the Facility to fund capital improvements and property acquisitions. During the nine months ended July 31, 2016, the Company repaid $63.8 million on the Facility predominantly with proceeds from its recently completed Class A Common stock offering (see note 6). In May 2016, the Company repaid a $7.5 million mortgage at maturity that was secured by the Company's Bloomfield, NJ property. The Company funded the repayment with a draw on its Facility. In June 2016, the Company entered into a $50 million mortgage loan commitment the obligates the lender to refinance the Company's secured mortgage on its Ridgeway property located in Stamford, CT in July 2017, which is the earliest the current Ridgeway mortgage loan may be repaid without penalty. The new mortgage loan will have a term of ten years and will require payments of principal and interest at a rate of LIBOR plus 1.90% based on a thirty-year amortization schedule. In conjunction with entering into the mortgage commitment, the Company simultaneously executed with the same lender an interest rate swap contract that will take effect on July 17, 2017 and will be co-terminus with the new Ridgeway mortgage loan. Such interest rate swap will convert the LIBOR-based variable rate on the new Ridgeway mortgage loan to a fixed annual rate of 3.398%. In order to provide the counterparty with collateral for the interest rate swap contract until the new mortgage loan is closed on Ridgeway in July 2017, the Company granted the lender a $10 million second mortgage lien on its Darien, CT property. The mortgage lien on the Darien property will be released on July 17, 2017 when the new Ridgeway mortgage loan is closed. In July 2016, the Company entered into a $22.7 million non-recourse first mortgage loan that is secured by newly acquired Newfield Green shopping center (see note 2). The mortgage loan requires monthly payments of principal and interest at a fixed interest rate of 3.89% per annum. The mortgage matures in August 2031. Proceeds from the mortgage were used to fund a portion of the acquisition.

(3) MORTGAGE NOTES PAYABLE, BANK LINES OF CREDIT AND OTHER LOANS

The Company has an $80 million unsecured revolving credit facility with a syndicate of four banks led by The Bank of New York Mellon, as administrative agent. The syndicate includes Wells Fargo Bank N.A. (syndication agent), Bank of Montreal and Regions Bank (co-documentation agents). The Facility gives the Company the option, under certain conditions, to increase the Facility's borrowing capacity up to $125 million (subject to lender approval). The maturity date of the Facility is September 21, 2016 with a one-year extension at the Company's option. Borrowings under the Facility can be used for, among other things, acquisitions, working capital, capital expenditures, and repayment of other indebtedness and the issuance of letters of credit (up to $10 million). Borrowings will bear interest at the Company's option of Eurodollar rate plus 1.5% to 2.0% or The Bank of New York Mellon's prime lending rate plus 0.50% based on consolidated indebtedness, as defined. The Company pays an annual fee on the unused commitment amount of 0.25% to 0.35% based on outstanding borrowings during the year. The Facility contains certain representations, financial and other covenants typical for this type of facility. The Company's ability to borrow under the Facility is subject to its compliance with the covenants and other restrictions on an ongoing basis. The principal financial covenants limit the Company's level of secured and unsecured indebtedness and additionally require the Company to maintain certain debt coverage ratios. The Company was in compliance with such covenants at July 31, 2016.

During the nine months ended July 31, 2016, the Company borrowed $44.0 million on the Facility to fund capital improvements and property acquisitions. During the nine months ended July 31, 2016, the Company repaid $63.8 million on the Facility predominantly with proceeds from its recently completed Class A Common stock offering (see note 6).

In May 2016, the Company repaid a $7.5 million mortgage at maturity that was secured by the Company's Bloomfield, NJ property. The Company funded the repayment with a draw on its Facility.

In June 2016, the Company entered into a $50 million mortgage loan commitment the obligates the lender to refinance the Company's secured mortgage on its Ridgeway property located in Stamford, CT in July 2017, which is the earliest the current Ridgeway mortgage loan may be repaid without penalty. The new mortgage loan will have a term of ten years and will require payments of principal and interest at a rate of LIBOR plus 1.90% based on a thirty-year amortization schedule. In conjunction with entering into the mortgage commitment, the Company simultaneously executed with the same lender an interest rate swap contract that will take effect on July 17, 2017 and will be co-terminus with the new Ridgeway mortgage loan. Such interest rate swap will convert the LIBOR-based variable rate on the new Ridgeway mortgage loan to a fixed annual rate of 3.398%. In order to provide the counterparty with collateral for the interest rate swap contract until the new mortgage loan is closed on Ridgeway in July 2017, the Company granted the lender a $10 million second mortgage lien on its Darien, CT property. The mortgage lien on the Darien property will be released on July 17, 2017 when the new Ridgeway mortgage loan is closed.

In July 2016, the Company entered into a $22.7 million non-recourse first mortgage loan that is secured by newly acquired Newfield Green shopping center (see note 2). The mortgage loan requires monthly payments of principal and interest at a fixed interest rate of 3.89% per annum. The mortgage matures in August 2031. Proceeds from the mortgage were used to fund a portion of the acquisition.