Segment information (Tables)

12 Months Ended

Oct. 31, 2021

Segment Reporting [Abstract]

Schedule of segment and related information

Real estate rental revenue, operating expenses, NOI and recurring capital improvements for the reportable segments are summarized below and reconciled to consolidated net income attributable to common equity for each of the years in the three-year period ended October 31, 2021. Asset information is not reported since FREIT Maryland does not use this measure to assess performance.

89

	Years Ended October 31,
	2021		2020		2019
	(In Thousands of Dollars)
Real estate rental revenue:
Commercial	$	23,547	$	24,486	$	26,692
Residential		26,974		28,638		33,175
Total real estate rental revenue		50,521		53,124		59,867
Real estate operating expenses:
Commercial		11,223		11,334		11,694
Residential		11,071		11,588		14,368
Total real estate operating expenses		22,294		22,922		26,062
Net operating income:
Commercial		12,324		13,152		14,998
Residential		15,903		17,050		18,807
Total net operating income	$	28,227	$	30,202	$	33,805

Recurring capital improvements - residential $ (625 ) $ (347 ) $ (685 )

Reconciliation to consolidated net income attributable to common equity:
Segment NOI	$	28,227		$	30,202		$	33,805
Deferred rents - straight lining		(230	)		(397	)		410
Investment income		116			204			360
Unrealized loss on interest rate cap contract		-			-			(160	)
Third party transaction costs		-			(4,606	)		(1,416	)
Gain on sale of property		-			-			836
Gain on deconsolidation of subsidiary		-			27,680			-
Loss on investment in tenancy-in-common		(295	)		(202	)		-
General and administrative expenses		(5,195	)		(3,821	)		(2,633	)
Depreciation		(9,300	)		(10,341	)		(11,339	)
Tenant improvement write-off due to COVID-19		-			(7,277	)		-
Financing costs		(12,276	)		(14,122	)		(18,070	)
Net income		1,047			17,320			1,793
Net (income) loss attributable to noncontrolling interests in subsidiaries		(120	)		3,233			(6	)
Net income attributable to common equity	$	927		$	20,553		$	1,787