Investment in tenancy-in-common ('TIC') (Tables)

12 Months Ended

Oct. 31, 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 October 31, 2020 accounted for by the equity method:

	October 31,
	2020
	(In Thousands of Dollars)
Real estate, net	$	80,041
Cash and cash equivalents		754
Tenants' security accounts		523
Receivables and other assets		468
Total assets	$	81,786
Mortgages payable, net of unamortized debt issuance costs	$	49,956
Accounts payable and accrued expenses		314
Tenants' security deposits		535
Deferred revenue		56
Equity		30,925
Total liabilities & equity	$	81,786
FREIT's investment in TIC (65% interest)	$	20,101

Schedule of Income Statement of Pierre Property

The following table summarizes the statement of operations of the Pierre Towers property for the period from February 28, 2020 through October 31, 2020, accounted for by the equity method:

	For the period from
	February 28, 2020
	through October 31, 2020
	(In Thousands of Dollars)
Revenues	$	4,981
Operating expenses		2,786
Net operating income	$	2,195
Depreciation		1,435
Interest expense including amortization
of deferred financing costs		1,070
Net loss	$	(310	)
FREIT's loss on investment in TIC (65% interest)	$	(202	)