Investment in tenancy-in-common (Tables)

3 Months Ended

Jan. 31, 2021

Equity Method Investments and Joint Ventures [Abstract]

Schedule of Balance Sheet of Pierre Property

The following table summarizes the balance sheets of the Pierre Towers property as of January 31, 2021 and October 31, 2020 accounted for by the equity method:

		January 31,		October 31,
		2021		2020
		(In Thousands of Dollars)
Real estate, net	$	79,536	$	80,041
Cash and cash equivalents		1,155		754
Tenants' security accounts		529		523
Receivables and other assets		430		468
Total assets	$	81,650	$	81,786
Mortgages payable, net of unamortized debt issuance costs	$	49,890	$	49,956
Accounts payable and accrued expenses		297		314
Tenants' security deposits		521		535
Deferred revenue		59		56
Equity		30,883		30,925
Total liabilities & equity	$	81,650	$	81,786
FREIT's investment in TIC (65% interest)	$	20,074	$	20,101

Schedule of Income Statement of Pierre Property

The following table summarizes the statement of operations of the Pierre Towers property for the three months ended January 31, 2021, accounted for by the equity method:

		Three Months Ended
		January 31, 2021
		(In Thousands of Dollars)
Revenues	$	1,891
Operating expenses		991
Net operating income		900
Depreciation		540
Interest expense including amortization of deferred financing costs		401
Net loss	$	(41)
FREIT's loss on investment in TIC (65% interest)	$	(27)