Investment in tenancy-in-common (Tables)

6 Months Ended

Apr. 30, 2020

Equity Method Investments and Joint Ventures [Abstract]

Schedule of Balance Sheet of Pierre Property

The following table summarizes the balance sheet of the Pierre Towers property as of April 30, 2020 accounted for by the equity method:

	April 30,
	2020
	(In Thousands of Dollars)
Real estate, net	$	80,950
Cash and cash equivalents		1,032
Tenants' security accounts		577
Receivables and other assets		501
Total assets	$	83,060
Mortgages payable, net of unamortized debt issuance costs	$	50,089
Accounts payable and accrued expenses		391
Tenants' security deposits		580
Deferred revenue		93
Equity		31,907
Total liabilities & equity	$	83,060
FREIT's investment in TIC (65% interest)	$	20,740

Schedule of Income Statement of Pierre Property

The following table summarizes the income statement of the Pierre Towers property for the period from February 28, 2020 through April 30, 2020 accounted for by the equity method:

	For the period from
	February 28, 2020
	through April 30, 2020
	(In Thousands of Dollars)
Revenues	$	1,242
Operating expenses		643
Net operating income		599
Depreciation		358
Interest expense including amortization
of deferred financing costs		268
Net loss	$	(27	)
FREIT's loss on investment in TIC (65% interest)	$	(18	)