XML 19 R8.htm IDEA: XBRL DOCUMENT v3.8.0.1
CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS (Unaudited) - USD ($)
$ in Thousands
6 Months Ended
Apr. 30, 2018
Apr. 30, 2017
Operating activities:    
Net income (loss) $ 507 $ (2,045)
Adjustments to reconcile net income (loss) to net cash provided by operating activities:    
Depreciation 5,512 5,178
Amortization 766 761
Unrealized gain on interest rate cap contract (19)
Stock based compensation expense 61 61
Trustee fees, consultant fee and related interest paid in stock units 427 410
Deferred rents - straight line rent (173) (311)
Bad debt expense 170 93
Changes in operating assets and liabilities:    
Tenants' security accounts 4 86
Accounts receivable, prepaid expenses and other assets (899) (429)
Accounts payable, accrued expenses and deferred trustee compensation (1,165) (216)
Deferred revenue (208) (27)
Net cash provided by operating activities 4,983 3,561
Investing activities:    
Capital improvements - existing properties (3,186) (8,308)
Acquisition of Station Place, net of proceeds released from escrow related to 1031 exchange (12,577)
Net cash used in investing activities (15,763) (8,308)
Financing activities:    
Repayment of mortgages and construction loan (146,561) (24,026)
Proceeds from mortgage loan refinancings 166,520 23,500
Proceeds from acquisition mortgage loan 12,350
Refinancing good faith deposit refund 960
Restricted loan proceeds held in escrow (250)
Proceeds from construction loan 1,349
Proceeds from credit line 3,000
Repayment of credit line (3,121)
Advanced funding for construction loan reserve 647 (693)
Interest rate cap contract cost (89)
Deferred financing costs (2,670) (339)
Dividends paid (3,033)
Due to affiliate 112 2,806
Distributions to noncontrolling interests (6,365) (270)
Net cash provided by financing activities 21,783 2,044
Net increase (decrease) in cash and cash equivalents 11,003 (2,703)
Cash and cash equivalents, beginning of period 7,899 10,906
Cash and cash equivalents, end of period 18,902 8,203
Supplemental disclosure of cash flow data:    
Interest paid, net of amounts capitalized 8,770 6,979
Investing activities:    
Accrued capital expenditures, construction costs, pre-development costs and interest 285 274
Financing activities:    
Dividends declared but not paid 337
Dividends paid in share units $ 7 $ 13