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CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS (Unaudited) - USD ($)
$ in Thousands
3 Months Ended
Jan. 31, 2023
Jan. 31, 2022
Operating activities:    
Net income $ 46 $ 69,153
Adjustments to reconcile net income to net cash (used in) provided by operating activities:    
Net loss (gain) on sale of Maryland properties 243 (70,003)
Depreciation 722 1,820
Amortization 140 434
Stock based compensation expense 5 5
Director fees and related interest paid in stock units 26 44
Loss on investment in tenancy-in-common 67 124
Deferred rents - straight line rent 28 10
Deferred real estate tax appeal fees 35
Bad debt (recovery) expense (45) 408
Changes in operating assets and liabilities:    
Tenants' security accounts (734)
Accounts receivable, prepaid expenses and other assets 97 2,139
Accounts payable, accrued expenses and deferred director compensation payable (2,285) 91
Deferred revenue 94 (584)
Due to affiliate - accrued interest (47)
Net cash (used in) provided by operating activities (862) 2,895
Investing activities:    
(Cash Outlays) Proceeds from sale of Maryland properties, net (165) 247,412
Proceeds from payment of secured loans receivable inclusive of accrued interest 5,094
Capital improvements - existing properties (181) (485)
Deferred leasing costs (8) (60)
Distribution from investment in tenancy-in-common 357
Net cash (used in) provided by investing activities (354) 252,318
Financing activities:    
Repayment of mortgages (393) (171,002)
Proceeds from mortgage loan refinancing 7,500
Proceeds from exercise of stock options 1,226
Deferred financing costs (6) (246)
Due to affiliate - loan repayment (3,205)
Dividends paid (10,742) (686)
Distributions to noncontrolling interests in subsidiaries (1,850) (19,700)
Net cash used in financing activities (11,765) (187,339)
Net (decrease) increase in cash, cash equivalents and restricted cash (12,981) 67,874
Cash, cash equivalents and restricted cash, beginning of period 58,500 39,045
Cash, cash equivalents and restricted cash, end of period 45,519 106,919
Supplemental disclosure of cash flow data:    
Interest paid 1,728 2,525
Investing activities:    
Accrued transactional costs for sale of Maryland properties 78 407
Accrued capital expenditures, construction costs and pre-development costs 42 58
Financing activities:    
Dividends declared but not paid 372 686
Dividends paid in share units 17
The following table provides a reconciliation of cash, cash equivalents and restricted cash reported within the condensed consolidated balance sheets:    
Cash and cash equivalents 37,187 95,438
Tenants' security accounts 1,024 1,062
Funds held in post-closing escrow 5,962 9,337
Mortgage escrows (included in prepaid expenses and other assets) 1,346 1,082
Total cash, cash equivalents and restricted cash $ 45,519 $ 106,919