Investment in tenancy-in-common (Tables)

12 Months Ended

Oct. 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 October 31, 2021 and 2020 accounted for by the equity method:

	October 31,		October 31,
	2021		2020
	(In Thousands of Dollars)
Real estate, net	$	78,023	$	80,041
Cash and cash equivalents		1,338		754
Tenants' security accounts		484		523
Receivables and other assets		510		468
Total assets	$	80,355	$	81,786
Mortgages payable, net of unamortized debt issuance costs	$	49,691	$	49,956
Accounts payable and accrued expenses		261		314
Tenants' security deposits		484		535
Deferred revenue		99		56
Equity		29,820		30,925
Total liabilities & equity	$	80,355	$	81,786
FREIT Maryland's investment in TIC (65% interest)	$	19,383	$	20,101

Schedule of Income Statement of Pierre Property

The following table summarizes the statements of operations of the Pierre Towers property for the fiscal year ended October 31, 2021 and for the period from February 28, 2020 through October 31, 2020, accounted for by the equity method:

	Year Ended October 31, 2021			For the period from February 28, 2020 through October 31, 2020
	(In Thousands of Dollars)
Revenues	$	7,627		$	4,981
Operating expenses		4,311			2,786
Depreciation		2,166			1,435
Operating income		1,150			760
Interest expense including amortization of deferred financing costs		1,604			1,070
Net loss	$	(454	)	$	(310	)
FREIT Maryland's loss on investment in TIC (65% interest)	$	(295	)	$	(202	)