CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($) $ in Thousands	12 Months Ended
	Oct. 31, 2018	Oct. 31, 2017	Oct. 31, 2016
Operating activities:
Net income	$ 966	$ 10,683	$ 3,099
Adjustments to reconcile net income to net cash provided by operating activities:
Depreciation	11,515	10,669	7,852
Amortization	1,789	1,932	952
Unrealized gain on interest rate cap contract	(72)
Stock based compensation expense	130	122	94
Trustee fees, consultant fee and related interest paid in stock units	818	803	683
Gain on sale of property		(15,395)	(314)
Deferred rents - straight line rent	(605)	(634)	(608)
Bad debt expense	198	196	196
Net amortization of acquired leases
Changes in operating assets and liabilities:
Tenants' security accounts	67	11	109
Accounts receivable, prepaid expenses and other assets	(2,256)	(2,780)	(793)
Accounts payable, accrued expenses and deferred trustee compensation	(1,808)	(1,021)	(3,264)
Deferred revenue	93	142	54
Net cash provided by operating activities	10,835	4,728	8,060
Investing activities:
Proceeds from sale of property		9,135	3,059
Capital improvements - existing properties	(5,335)	(10,058)	(9,927)
Acquisition of Station Place, net of proceeds released from escrow related to 1031 exchange	(12,585)
Proceeds from payment of secured loans receivable inclusive of accrued interest	1,870
Construction and pre-development costs			(13,535)	[1]
Net cash used in investing activities	(16,050)	(923)	(20,403)
Financing activities:
Repayment of mortgages and construction loan	(148,680)	(34,254)	(28,314)
Proceeds from/(repayment of) credit line	(3,121)	3,121
Proceeds from mortgage loan refinancings	166,520	23,500	25,800
Proceeds from acquisition mortgage loan	12,350
Proceeds from additional tranche of loan			2,320
Restricted loan proceeds held in/(released from) escrow	1,850		(1,850)
Refinancing good faith deposit	960	(960)
Proceeds from construction loan		1,349	21,093
Advanced funding for construction loan reserve	647	(647)
Proceeds from exercise of stock options			244
Deferred financing costs	(2,685)	(640)	(377)
Interest rate cap contract cost	(88)
Dividends paid	(676)	(3,033)	(8,072)
Due to affiliate	245	5,172
Distributions to noncontrolling interests	(8,259)	(420)	(1,095)
Net cash provided by (used in) financing activities	19,063	(6,812)	9,749
Net increase (decrease) in cash and cash equivalents	13,848	(3,007)	(2,594)
Cash and cash equivalents, beginning of year	7,899	10,906	13,500
Cash and cash equivalents, end of year	21,747	7,899	10,906
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	17,040	15,160	11,100
Investing activities:
Transfer from construction in progress to real estate for completion of Rotunda			124,423
Proceeds from sale of property, held in escrow pending 1031 exchange		6,965
Accrued capital expenditures, construction costs, pre-development costs and interest	82	413	3,130
Financing activities:
Dividends declared but not paid	338		2,022
Dividends paid in share units	$ 21	$ 13	$ 76

[1] Includes $4,213 that was incurred and accrued in fiscal 2015; paid in fiscal 2016.