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CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS (Unaudited) - USD ($)
$ in Thousands
6 Months Ended
Apr. 30, 2022
Apr. 30, 2021
Operating activities:    
Net income $ 68,152 $ 716
Adjustments to reconcile net income to net cash provided by operating activities:    
Net gain on sale of Maryland properties (68,771)
Depreciation 2,534 4,633
Amortization 602 800
Stock based compensation expense 10 24
Director fees and related interest paid in stock units 65 215
Loss on investment in tenancy-in-common 156 145
Deferred rents - straight line rent 61 213
Deferred real estate tax appeal fees 35 35
Bad debt expense 377 295
Changes in operating assets and liabilities:    
Tenants' security accounts (736) (41)
Accounts receivable, prepaid expenses and other assets 2,377 1,565
Accounts payable, accrued expenses and deferred director compensation payable (1,214) 223
Deferred revenue (681) (135)
Due to affiliate - accrued interest (47) 84
Deferred interest on mortgages (2)
Net cash provided by operating activities 2,920 8,770
Investing activities:    
Proceeds from sale of Maryland properties, net 246,089
Proceeds from payment of secured loans receivable inclusive of accrued interest 5,094
Capital improvements - existing properties (676) (617)
Deferred leasing costs (88) (143)
Distribution from investment in tenancy-in-common 357 423
Net cash provided by (used in) investing activities 250,776 (337)
Financing activities:    
Repayment of mortgages (171,586) (2,972)
Proceeds from mortgage loan refinancing 7,500
Deferred financing costs (246) (640)
Due to affiliate - loan repayment (3,205) (800)
Dividends paid (1,372) (342)
Distributions to noncontrolling interests in subsidiaries (19,880) (510)
Net cash used in financing activities (188,789) (5,264)
Net increase in cash, cash equivalents and restricted cash 64,907 3,169
Cash, cash equivalents and restricted cash, beginning of period 39,045 39,517
Cash, cash equivalents and restricted cash, end of period 103,952 42,686
Supplemental disclosure of cash flow data:    
Interest paid 3,900 5,508
Operating activities:    
Commercial tenant security deposits applied to accounts receivable 15
Investing activities:    
Accrued transactional costs for sales of Maryland Properties 326
Accrued capital expenditures, construction costs and pre-development costs 93 345
Financing activities:    
Dividends declared but not paid 686 342
Dividends paid in share units 35 16
Vested share units issued to consultant and retired director $ 72