Segment information (Tables)

6 Months Ended

Apr. 30, 2013

Segment Information Tables

Schedule of segment and related information

	Six Months Ended						Three Months Ended
	April 30,						April 30,
	2013			2012			2013			2012
	(In Thousands)						(In Thousands)
Real estate rental revenue:
Commercial	$	11,217		$	11,831		$	5,355		$	5,739
Residential		9,346			9,442			4,687			4,759
Total real estate revenue		20,563			21,273			10,042			10,498
Real estate operating expenses:
Commercial		4,486			4,817			2,260			2,293
Residential		4,548			4,246			2,213			2,144
Total real estate operating expenses		9,034			9,063			4,473			4,437
Net operating income:
Commercial		6,731			7,014			3,095			3,446
Residential		4,798			5,196			2,474			2,615
Total net operating income	$	11,529		$	12,210		$	5,569		$	6,061
Recurring capital improvements-residential	$	(204	)	$	(250	)	$	(144	)	$	(77	)
Reconciliation to consolidated net income:
Segment NOI	$	11,529		$	12,210		$	5,569		$	6,061
Deferred rents - straight lining		(110	)		10			(55	)		16
Amortization of acquired leases		(12	)		12			(6	)		3
Investment income		100			55			50			31
General and administrative expenses		(869	)		(864	)		(446	)		(495	)
Depreciation		(3,027	)		(3,044	)		(1,514	)		(1,522	)
Income relating to early lease termination,
net of related deferred project cost write-off		—			1,460			—			1,460
Financing costs		(6,083	)		(5,706	)		(3,064	)		(2,891	)
Income from continuing operations		1,528			4,133			534			2,663
Income from discontinued operations		707			196			1			104
Gain on sale of discontinued operation		1,377			—			1,377			—
Net income		3,612			4,329			1,912			2,767
Net income attributable to noncontrolling interests		(272	)		(1,193	)		(43	)		(824	)
Net income attributable to common equity	$	3,340		$	3,136		$	1,869		$	1,943