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Subsequent events
3 Months Ended
Oct. 31, 2014
Subsequent events [Abstract]  
Subsequent events

Note 17- Subsequent events:

On December 29, 2014, FREIT Regency, LLC closed on a $16.2 million mortgage loan with Provident Bank. The new loan bears a floating interest rate equal to 125 basis points over the BBA LIBOR and the loan will mature on December 15, 2024. In order to minimize interest rate volatility during the term of the loan, FREIT Regency, LLC entered into an interest rate swap agreement that in effect, converted the floating interest rate to a fixed interest rate of 3.75% over the term of the loan. Proceeds from the loan will be used to pay-off the outstanding balance on FREIT's credit line, and the remainder of the proceeds will be available to fund future capital expenditures and for general corporate purposes.