CONSOLIDATED STATEMENTS OF CASH FLOWS (USD $) In Thousands, unless otherwise specified	12 Months Ended
	Oct. 31, 2014		Oct. 31, 2013		Oct. 31, 2012
Operating activities:
Net income	$ 12,164		$ 7,942		$ 11,996
Adjustments to reconcile net income to net cash provided by operating activities (including discontinued operations):
Depreciation	6,346		6,244		6,215
Amortization	750		665		669
Stock based compensation	16
Net amortization of acquired leases	21		24		2
Income from early lease termination					(2,950)
Deferred project cost write-off					3,726
Net gain on sale of discontinued operations	(8,734)		(3,545)		(7,528)
Income tax adjustment on gain on sale of discontinued operation			(720)	[1]
Changes in operating assets and liabilities:
Tenants' security accounts	46		17		17
Accounts and straight-line rents receivable, prepaid expenses and other assets	(217)		(181)		(324)
Accounts payable, accrued expenses and deferred trustee compensation	1,812		318		1,541
Deferred revenue	190		(289)		(239)
Net cash provided by operating activities	12,394		10,475		13,125
Investing activities:
Capital improvements - existing properties	(3,770)		(2,149)		(2,114)
Construction and pre-development costs	(33,579)	[2]	(4,732)	[3]	(3,999)	[4]
Regency acquisition	(10,855)	[5]
Proceeds from sale of discontinued operations			3,752		9,908
Secured loans receivable to noncontrolling interest	(2,128)
Net cash (used in) provided by investing activities	(50,332)		(3,129)		3,795
Financing activities:
Repayment of mortgages and construction loan	(13,260)		(45,747)		(6,337)
Repayment of credit line	(7,000)
Proceeds from mortgages and construction loans	61,829		42,750		3,085
Proceeds from credit line	10,000		2,000
Deferred financing costs	(2,669)		(1,059)		(210)
Dividends paid	(10,812)		(7,637)		(8,331)
Repurchase of Company's shares of beneficial interest	(2,213)
Additional investment by noncontrolling interest	5,791	[6]
Distributions to noncontrolling interests	(975)		(462)		(834)
Net cash provided by (used in) financing activities	40,691		(10,155)		(12,627)
Net increase (decrease) in cash and cash equivalents	2,753		(2,809)		4,293
Cash and cash equivalents, beginning of period	7,801		10,610		6,317
Cash and cash equivalents, end of period	10,554		7,801		10,610
Supplemental disclosure of cash flow data:
Interest paid, net of amounts capitalized	10,206		10,933		10,526
Income taxes paid			1,072
Investing activities:
Proceeds from sale of discontinued operation applied to acquisition of 1031 replacement property.	9,770
Accrued capital expenditures, construction costs, pre-development costs and interest	8,091		3,766		747
Financing activities:
Dividends declared but not paid	$ 2,046		$ 4,582		$ 1,389

[1] Income tax adjustment relating to fiscal 2012 gain on sale of discontinued operation.

[2] Includes $3,766 that was incurred and accrued in fiscal 2013; paid in fiscal 2014.

[3] Includes $743 that was incurred and accrued in fiscal 2012; paid in fiscal 2013.

[4] Includes $2,256 that was incurred and accrued in fiscal 2011; paid in fiscal 2012.

[5] Net of $9,770 of proceeds from the sale of South Brunswick property (see Note 2).

[6] Represents $5,791 investment in Grande Rotunda, LLC, of which $2,128 was loaned to noncontrolling interest by FREIT.