Investment in tenancy-in-common (Tables)

3 Months Ended

Jan. 31, 2022

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, 2022 and October 31, 2021, accounted for by the equity method:

		January 31,		October 31,
		2022		2021
		(In Thousands of Dollars)
Real estate, net	$	77,508	$	78,023
Cash and cash equivalents		1,205		1,338
Tenants' security accounts		475		484
Receivables and other assets		359		510
Total assets	$	79,547	$	80,355
Mortgages payable, net of unamortized debt issuance costs	$	49,624	$	49,691
Accounts payable and accrued expenses		275		261
Tenants' security deposits		475		484
Deferred revenue		93		99
Equity		29,080		29,820
Total liabilities & equity	$	79,547	$	80,355
FREIT Maryland's investment in TIC (65% interest)	$	18,902	$	19,383

Schedule of Income Statement of Pierre Property

The following table summarizes the statements of operations of the Pierre Towers property for the three months ended January 31, 2022 and 2021, accounted for by the equity method:

	Three Months Ended January 31,
	2022			2021
	(In Thousands of Dollars)
Revenue	$	1,954		$	1,891
Operating expenses		1,201			991
Depreciation		542			540
Operating income		211			360
Interest expense including amortization of deferred financing costs		401			401
Net loss	$	(190	)	$	(41	)
FREIT Maryland's loss on investment in TIC (65% interest)	$	(124	)	$	(27	)