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CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($)
$ in Thousands
12 Months Ended
Oct. 31, 2019
Oct. 31, 2018
Oct. 31, 2017
Operating activities:      
Net income $ 1,793 $ 966 $ 10,683
Adjustments to reconcile net income to net cash provided by operating activities:      
Depreciation 11,339 11,515 10,669
Amortization 1,750 1,789 1,932
Unrealized loss (gain) on interest rate cap contract 160 (72)
Stock based compensation expense 124 130 122
Trustee fees, consultant fee and related interest paid in stock units 940 818 803
Gain on sale of property (836) (15,395)
Deferred rents - straight line rent (410) (605) (634)
Bad debt expense 263 198 196
Changes in operating assets and liabilities:      
Tenants' security accounts 149 272 142
Accounts receivable, prepaid expenses and other assets (1,537) (371) (4,160)
Accounts payable, accrued expenses and deferred trustee compensation 64 (1,808) (1,021)
Deferred revenue 21 93 142
Net cash provided by operating activities 13,820 12,925 3,479
Investing activities:      
Proceeds from sale of property, net 7,060 16,100
Capital improvements - existing properties (3,087) (5,335) (10,058)
Acquisition of Station Place (19,550)
Proceeds from payment of secured loans receivable inclusive of accrued interest 1,870
Net cash provided by (used in) investing activities 3,973 (23,015) 6,042
Financing activities:      
Repayment of mortgages and construction loan (26,529) (148,680) (34,254)
(Repayment of)/proceeds from credit line (3,121) 3,121
Proceeds from mortgage loan refinancings 28,815 166,520 23,500
Proceeds from acquisition mortgage loan 12,350
Proceeds from construction loan 1,349
Deferred financing costs (539) (2,685) (640)
Interest rate cap contract cost (88)
Dividends paid (3,048) (676) (3,033)
Due to affiliate 288 245 5,172
Distributions to noncontrolling interests (686) (8,259) (420)
Net cash (used in) provided by financing activities (1,699) 15,606 (5,205)
Net increase in cash, cash equivalents and restricted cash 16,094 5,516 4,316
Cash, cash equivalents and restricted cash, beginning of year 26,394 20,878 16,562
Cash, cash equivalents and restricted cash, end of year 42,488 26,394 20,878
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 16,337 17,040 15,160
Investing activities:      
Accrued capital expenditures, construction costs, pre-development costs and interest 157 82 413
Financing activities:      
Dividends declared but not paid 1,357 338
Dividends paid in share units $ 106 $ 21 $ 13