Investment in tenancy-in-common (Tables)

9 Months Ended

Jul. 31, 2022

Equity Method Investments and Joint Ventures [Abstract]

Schedule of Balance Sheet of Pierre Property

		July 31,		October 31,
		2022		2021
		(In Thousands of Dollars)
Real estate, net	$	76,525	$	78,023
Cash and cash equivalents		1,801		1,338
Tenants' security accounts		456		484
Receivables and other assets		640		510
Total assets	$	79,422	$	80,355
Mortgages payable, net of unamortized debt issuance costs	$	49,492	$	49,691
Accounts payable and accrued expenses		221		261
Tenants' security deposits		461		484
Deferred revenue		129		99
Equity		29,119		29,820
Total liabilities & equity	$	79,422	$	80,355
FREIT's investment in TIC (65% interest)	$	18,927	$	19,383

Schedule of Income Statement of Pierre Property

	Nine Months Ended July 31,				Three Months Ended July 31,
	2022		2021		2022		2021
		(In Thousands of Dollars)				(In Thousands of Dollars)
Revenue	$	5,990	$	5,674	$	2,067	$	1,900
Operating expenses		3,307		3,225		1,032		1,111
Depreciation		1,634		1,623		547		542
Operating income		1,049		826		488		247
Interest expense including amortization of deferred financing costs		1,201		1,203		400		401
Net (loss) income	$	(152)	$	(377)	$	88	$	(154)
FREIT's (loss) income on investment in TIC (65% interest)	$	(99)	$	(245)	$	57	$	(100)