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CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS (Unaudited) - USD ($)
$ in Thousands
9 Months Ended
Jul. 31, 2018
Jul. 31, 2017
Operating activities:    
Net income $ 618 $ 11,056
Adjustments to reconcile net income to net cash provided by operating activities:    
Depreciation 8,573 7,887
Amortization 1,253 1,273
Unrealized gain on interest rate cap contract (40)
Stock based compensation expense 95 92
Trustee fees, consultant fee and related interest paid in stock units 629 607
Gain on sale of property (15,395)
Deferred rents - straight line rent (355) (552)
Bad debt expense 233 152
Changes in operating assets and liabilities:    
Tenants' security accounts 31 92
Accounts receivable, prepaid expenses and other assets (2,377) (3,065)
Accounts payable, accrued expenses and deferred trustee compensation (767) (1,648)
Deferred revenue (386) 349
Net cash provided by operating activities 7,507 848
Investing activities:    
Proceeds from sale of property 9,144
Capital improvements - existing properties (4,294) (9,348)
Acquisition of Station Place, net of proceeds released from escrow related to 1031 exchange (12,585)
Net cash used in investing activities (16,879) (204)
Financing activities:    
Repayment of mortgages and construction loan (147,615) (33,010)
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 released from escrow 1,850
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 (1,002)
Interest rate cap contract cost (89)
Deferred financing costs (2,670) (359)
Dividends paid (338) (3,033)
Due to affiliate 177 4,814
Distributions to noncontrolling interests (6,454) (360)
Net cash provided by (used in) financing activities 22,217 (5,101)
Net increase (decrease) in cash and cash equivalents 12,845 (4,457)
Cash and cash equivalents, beginning of period 7,899 10,906
Cash and cash equivalents, end of period 20,744 6,449
Supplemental disclosure of cash flow data:    
Interest paid, net of amounts capitalized including $1,139 in loan prepayment costs related to property sale in 2017 12,936 11,605
Investing activities:    
Accrued capital expenditures, construction costs, pre-development costs and interest 196 253
Proceeds from sale of property, held in escrow pending 1031 exchange 6,956
Financing activities:    
Dividends declared but not paid 338
Dividends paid in share units $ 14 $ 13