Schedule III-Real Estate and Accumulated Depreciation

12 Months Ended

Nov. 30, 2018

Schedule III-Real Estate and Accumulated Depreciation

Schedule III-Real Estate and Accumulated Depreciation

Schedule III – Real Estate and Accumulated Depreciation

November 30, 2018

(dollars in thousands)

								Cost Capitalized		Gross Amount
				Initial Cost				Subsequent		at November 30, 2018
						Bldg. &		to Acquisition				Land		Bldg. & Bldg.		Tenant		Construction		Development					Accumulated		Date of	Date of	Depr.
Description	Encumbrances			Land		Improve.		Improvements		Land		Improvements		Improvements		Improvements		in Progress		Costs		Total			Depreciation		Construction	Acquisition	Life
CT Industrial/Warehouse Properties
Industrial/Warehouse Building - Bloomfield	$	-	(b)	$	1	$	-	$	861	$	1	$	92	$	769	$	-	$	-	$	-	$	862		$	(633)	1988		40	yrs.
Industrial/Warehouse Building - Bloomfield		-			251		1,198		1,593		251		321		1,752		718		-		-		3,042			(706)	1997	2007	40	yrs.
Industrial/Warehouse Building - East Granby		13,487			4		1,722		922		4		774		1,843		27		-		-		2,648			(1,939)	1982	1989	40	yrs.
Industrial/Warehouse Building - East Granby		-	(a)		4		-		1,973		4		212		1,578		153		30		-		1,977			(1,488)	1978		40	yrs.
Industrial/Warehouse Building - East Granby		-	(a)		4		-		3,178		4		310		2,333		535		-		-		3,182			(2,277)	1980		40	yrs.
Industrial/Warehouse Building - Windsor		-	(a)		259		-		4,477		259		356		3,650		394		77		-		4,736			(2,518)	1998		40	yrs.
Industrial/Warehouse Building - Windsor		-	(a)		13		-		7,531		13		525		5,642		1,364		-		-		7,544			(2,782)	2008		40	yrs.
Industrial/Warehouse Building - Windsor		4,324			12		-		8,243		12		363		5,168		2,712		-		-		8,255			(6,213)	1999		40	yrs.
Industrial/Warehouse Building - Windsor		-	(a)		7		-		3,381		7		20		3,175		186		-		-		3,388			(1,626)	2001		40	yrs.
Industrial/Warehouse Building - Windsor		16,978			13		-		5,784		13		62		5,079		643		-		-		5,797			(2,761)	2003		40	yrs.
Industrial/Warehouse Building - Windsor		-	(a)		16		-		7,611		16		86		6,903		622		-		-		7,627			(3,451)	2006		40	yrs.
Industrial/Warehouse Building - Windsor		-	(a)		15		-		17,203		15		154		13,876		3,173		-		-		17,218			(5,477)	2005		40	yrs.
Industrial/Warehouse Building - Windsor		10,284			57		-		16,014		57		1,031		13,886		1,097		-		-		16,071			(4,746)	2009		40	yrs.
Industrial/Warehouse Building - Windsor		18,482			20		-		10,153		20		703		8,167		1,283		-		-		10,173			(3,068)	2007		40	yrs.
Industrial/Warehouse Building - Windsor		-	(a)		12		-		6,969		12		464		6,288		217		-		-		6,981			(2,528)	2007		40	yrs.
Industrial/Warehouse Building - Windsor		-	(a)		16		-		9,602		16		2,364		6,690		547		1		-		9,618			(444)	2017		40	yrs.
Industrial/Warehouse Building - Windsor		12,842			26		-		15,443		26		3,340		10,976		1,127		-		-		15,469			(146)	2018		40	yrs.
Industrial/Warehouse Building - Windsor		6,172			19		-		8,236		19		171		8,065		-		-		-		8,255			(3,690)	2001		40	yrs.
PA Industrial/Warehouse Properties
Industrial/Warehouse Building - Breinigsville		3,345			832		4,599		-		832		349		4,029		221		-		-		5,431			(1,535)		2010	40	yrs.
Industrial/Warehouse Building - Lower Nazareth Township		19,674			1,351		-		15,490		1,351		1,366		12,874		1,250		-		-		16,841			(2,781)	2014		40	yrs.
Industrial/Warehouse Building - Lower Nazareth Township		-	(a)		721		-		11,158		721		1,369		8,968		821		-		-		11,879			(2,891)	2012		40	yrs.
Industrial/Warehouse Building - Hanover Township		25,402			3,620		-		15,574		3,620		4,500		9,134		1,940		-		-		19,194			(1,642)	2016		40	yrs.
Industrial/Warehouse Building - Hanover Township		-	(a)		4,022		-		16,298		4,022		4,008		11,076		1,214		-		-		20,320			(2,434)	2015		40	yrs.
Industrial/Warehouse Building - Allentown		-			2,344		-		8,057		2,344		2,982		5,068		-		7		-		10,401			(68)	2018		40	yrs.
NC Industrial/Warehouse Property
Industrial/Warehouse Building - Concord		11,898			1,600		15,189		320		1,600		1,593		13,042		874		-		-		17,109			(946)	2015	2017	40	yrs.
Office/Flex Properties
Office/Flex Building - Bloomfield		-	(b)		5		-		4,317		5		594		2,973		750		-		-		4,322			(3,672)	1977		40	yrs.
Office/Flex Building - Bloomfield		-	(b)		4		-		2,777		4		269		1,962		546		-		-		2,781			(2,378)	1985		40	yrs.
Office/Flex Building - Bloomfield		-	(b)		2		-		2,333		2		384		1,724		225		-		-		2,335			(1,691)	1988		40	yrs.
Office/Flex Building - Bloomfield		-	(b)		2		-		3,212		2		214		2,301		697		-		-		3,214			(1,286)	1989		40	yrs.
Office/Flex Building - Bloomfield		-	(b)		3		-		1,746		3		140		1,357		249		-		-		1,749			(1,166)	1990		40	yrs.
Office/Flex Building - Bloomfield		-	(b)		3		-		1,825		3		85		1,525		215		-		-		1,828			(979)	1991		40	yrs.
Office/Flex Building - Bloomfield		-	(b)		3		-		871		3		89		667		115		-		-		874			(644)	1991		40	yrs.
Office/Flex Building - Bloomfield		-	(b)		9		-		4,564		9		28		3,690		846		-		-		4,573			(2,044)	2001		40	yrs.
Office/Flex Building - Windsor		-	(b)		17		-		6,114		17		434		4,532		1,148		-		-		6,131			(3,378)	2002		40	yrs.
Office/Flex Building - Windsor		4,273			616		3,954		2,804		616		378		4,860		1,520		-		-		7,374			(3,472)	1982	2003	40	yrs.
Office/Flex Building - Windsor		-	(a)		577		4,004		1,770		577		383		4,150		1,226		15		-		6,351			(3,478)	1987	2003	40	yrs.
Restaurant Building - Windsor		-			1		-		2,195		1		265		1,413		508		9		-		2,196			(1,779)	1983		40	yrs.
Other
Nursery Farm - Granby, CT		-			392		-		10,988		392		1,565		9,423		-		-		-		11,380			(10,590)		1959	20	yrs.
Nursery Farm - Quincy, FL		-			279		-		8,697		279		4,089		4,608		-		-		-		8,976			(8,143)		1959	20	yrs.
Undeveloped land - New England Tradeport		-			712		-		2,116		712		90		-		-		-		2,026		2,828			(66)
Undeveloped land - Griffin Center/Griffin Center South		-			435		-		1,572		435		451		-		-		-		1,121		2,007			(444)
Undeveloped land - Phoenix Crossing		-			60		-		1,421		60		-		-		-		-		1,421		1,481			-
Undeveloped land - Other		-			2,120		-		1,845		685		1,307		-		-		-		538		2,530			(1,004)
Undeveloped land - Cabarrus County, NC		-			2,716		-		423		2,716		-		-		-		423		-		3,139			-
Residential Development - Simsbury, CT		-			201		-		8,337		201		-		-		-		-		8,337		8,538			-
	$	147,161		$	23,396	$	30,666	$	265,998	$	21,961	$	38,280	$	215,216	$	29,163	$	562	$	13,443	$	318,625	(c)	$	(105,004)

(a) Building included in mortgage listed on line above.

(b) Buildings included as collateral for a $15,000 revolving line of credit.

(c) As of November 30, 2018, the aggregate cost for Federal income tax purposes is $304,298.

Schedule III – Real Estate and Accumulated Depreciation (Continued)

(dollars in thousands)

Fiscal year ended November 30, 2018

	Cost		Reserve
Balance at beginning of year	$	291,852	$	(95,112)
Changes during the year:
Additions to real estate assets		27,559		—
Additions to reserve charged to costs and expense		—		(9,853)
Reclassification to real estate held for sale		(500)		(325)
Writeoff of fully depreciated assets		(286)		286
Balance at end of year	$	318,625	$	(105,004)

Fiscal year ended November 30, 2017

	Cost		Reserve
Balance at beginning of year	$	259,061	$	(86,801)
Changes during the year:
Additions to real estate assets		35,036		—
Additions to reserve charged to costs and expense		—		(8,831)
Reclassification to real estate held for sale		(2,047)		322
Writeoff of fully depreciated assets		(198)		198
Balance at end of year	$	291,852	$	(95,112)

Fiscal year ended November 30, 2016

	Cost		Reserve
Balance at beginning of year	$	247,239	$	(80,784)
Changes during the year:
Additions to real estate assets		15,702		—
Additions to reserve charged to costs and expense		—		(7,768)
Reclassification to real estate held for sale		(2,129)		—
Writeoff of fully depreciated assets		(1,751)		1,751
Balance at end of year	$	259,061	$	(86,801)