Investment in tenancy-in-common (Tables)

6 Months Ended

Apr. 30, 2023

Equity Method Investments and Joint Ventures [Abstract]

Schedule of Balance Sheet of Pierre Property

	April 30,		October 31,
	2023		2022
	(In Thousands of Dollars)
Real estate, net	$	75,065	$	76,042
Cash and cash equivalents		2,360		2,051
Tenants' security accounts		485		454
Receivables and other assets		648		583
Total assets	$	78,558	$	79,130
Mortgages payable, net of unamortized debt issuance costs	$	49,080	$	49,425
Accounts payable and accrued expenses		211		178
Tenants' security deposits		489		462
Deferred revenue		147		145
Equity		28,631		28,920
Total liabilities & equity	$	78,558	$	79,130
FREIT's investment in TIC (65% interest)	$	18,610	$	18,798

Schedule of Income Statement of Pierre Property

	Six Months Ended April 30,						Three Months Ended April 30,
	2023			2022			2023			2022
	(In Thousands of Dollars)						(In Thousands of Dollars)
Revenue	$	4,096		$	3,923		$	2,027		$	1,969
Operating expenses		2,485			2,275			1,263			1,074
Depreciation		1,101			1,087			551			545
Operating income		510			561			213			350
Interest expense including amortization of deferred financing costs		799			801			399			400
Net loss	$	(289	)	$	(240	)	$	(186	)	$	(50	)
FREIT's loss on investment in TIC (65% interest)	$	(188	)	$	(156	)	$	(121	)	$	(32	)