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CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS (Unaudited) - USD ($)
$ in Thousands
9 Months Ended
Jul. 31, 2022
Jul. 31, 2021
Operating activities:    
Net income $ 69,966 $ 1,032
Adjustments to reconcile net income to net cash provided by (used in) operating activities:    
Net gain on sale of Maryland properties (68,771)
Depreciation 3,257 6,948
Amortization 920 1,201
Stock based compensation expense 15 35
Director fees, and related interest paid in stock units 91 332
Loss on investment in tenancy-in-common 99 245
Deferred rents - straight line rent 25 225
Deferred real estate tax appeal fees 35 192
Bad debt expense 363 264
Changes in operating assets and liabilities:    
Tenants' security accounts (745) (84)
Accounts receivable, prepaid expenses and other assets 2,420 (402)
Accounts payable, accrued expenses and deferred director compensation payable (925) 249
Deferred revenue (770) (148)
Due to affiliate - accrued interest (47) 108
Deferred interest on mortgages (136) (2)
Net cash provided by (used in) operating activities 5,797 10,195
Investing activities:    
Proceeds from sale of Maryland properties, net 245,763
Proceeds from payment of secured loans receivable inclusive of accrued interest 5,316
Capital improvements - existing properties (948) (1,299)
Deferred leasing costs (116) (104)
Distribution from investment in tenancy-in-common 357 423
Net cash provided by (used in) investing activities 250,372 (980)
Financing activities:    
Repayment of mortgages (194,036) (4,464)
Proceeds from mortgage loan refinancing 32,500
Deferred financing costs (692) (640)
Due to affiliate - loan proceeds (300)
Due to affiliate - loan repayment (3,505) (2,800)
Dividends paid (2,058) (684)
Distributions to noncontrolling interests in subsidiaries (20,090) (960)
Net cash used in financing activities (187,581) (9,548)
Net increase (decrease) in cash, cash equivalents and restricted cash 68,588 (333)
Cash, cash equivalents and restricted cash, beginning of period 39,045 39,517
Cash, cash equivalents and restricted cash, end of period 107,633 39,184
Supplemental disclosure of cash flow data:    
Interest paid 5,485 8,245
Operating activities:    
Commercial tenant security deposits applied to accounts receivable 10
Investing activities:    
Accrued capital expenditures, construction costs and pre-development costs 26 116
Financing activities:    
Retirement of treasury stock 2,791
Dividends declared but not paid 343
Dividends paid in share units 35 24
Vested share units issued to consultant and retired director $ 72