CONSOLIDATED STATEMENTS OF CASH FLOWS $ in Thousands	12 Months Ended
	Oct. 31, 2015 USD ($)		Oct. 31, 2014 USD ($)		Oct. 31, 2013 USD ($)
Operating activities:
Net income	$ 2,912		$ 12,164		$ 7,942
Adjustments to reconcile net income to net cash provided by operating activities (including discontinued operations):
Depreciation	6,883		6,346		6,244
Amortization	679		750		$ 665
Stock based compensation expense	94		$ 16
Trustee fees and related interest paid in stock units	752
Deferred rents - straight line rent	1,265	[1]	$ 391		$ 13
Bad debt expense	631		26
Net amortization of acquired leases	$ 1		21		$ 24
Gain on sale of discontinued operations			$ (8,734)		(3,545)
Income tax adjustment on gain on sale of discontinued operation					(720)	[2]
Changes in operating assets and liabilities:
Tenants' security accounts	$ 104		$ 46		17
Accounts receivable, prepaid expenses and other assets	(1,766)		(634)		(194)
Accounts payable, accrued expenses and deferred trustee compensation	392		1,812		318
Deferred revenue	95		190		(289)
Net cash provided by operating activities	12,042		12,394		10,475
Investing activities:
Capital improvements - existing properties	(4,158)		(3,770)		(2,149)
Construction and pre-development costs	$ (48,576)	[3]	(33,579)	[4]	$ (4,732)	[5]
Regency acquisition, net of proceeds held in escrow			$ (10,855)	[6]
Proceeds from sale of discontinued operations					$ 3,752
Secured loans receivable to noncontrolling interest			$ (2,128)
Net cash (used in) provided by investing activities	$ (52,734)		(50,332)		$ (3,129)
Financing activities:
Repayment of mortgages and construction loan	(4,117)		(13,260)		$ (45,747)
Repayment of credit line	(5,000)		(7,000)
Proceeds from mortgage loan refinancings	16,200		19,700		$ 42,750
Proceeds from construction loan	$ 47,740		42,129
Proceeds from credit line			10,000		$ 2,000
Deferred financing costs	$ (371)		(2,669)		(1,059)
Dividends paid	(8,129)		(10,812)		$ (7,637)
Repurchase of Company stock - Treasury shares	$ (2,169)		(2,213)
Additional investment by noncontrolling interest			5,791	[7]
Distributions to noncontrolling interests	$ (516)		(975)		$ (462)
Net cash provided by (used in) financing activities	43,638		40,691		(10,155)
Net increase (decrease) in cash and cash equivalents	2,946		2,753		(2,809)
Cash and cash equivalents, beginning of period	10,554		7,801		10,610
Cash and cash equivalents, end of period	13,500		10,554		7,801
Supplemental disclosure of cash flow data:
Interest paid, net of amounts capitalized	$ 11,010		$ 10,206		10,933
Income taxes paid					$ 1,072
Investing activities:
Proceeds from sale of discontinued operation, held in escrow applied to 1031 replacement property			$ 9,770
Accrued capital expenditures, construction costs, pre-development costs and interest	$ 8,054		8,091		$ 3,766
Financing activities:
Dividends declared but not paid	2,018		$ 2,046		$ 4,582
Dividends paid in share units	$ 29

[1] Includes $1.1M straight line rent adjustment for bankrupt tenant.

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

[3] Includes $5,523 that was incurred and accrued in fiscal 2014; paid in fiscal 2015.

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

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

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

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