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CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS (Unaudited) - USD ($)
$ in Thousands
6 Months Ended
Apr. 30, 2023
Apr. 30, 2022
Operating activities:    
Net (loss) income $ (240) $ 68,152
Adjustments to reconcile net (loss) income to net cash provided by operating activities:    
Net loss (gain) on sale of Maryland properties 446 (68,771)
Depreciation 1,454 2,534
Amortization 286 602
Stock based compensation expense 10 10
Director fees and related interest paid in stock units 26 65
Stock award granted to Directors 140
Loss on investment in tenancy-in-common 188 156
Deferred rents - straight line rent 76 61
Deferred real estate tax appeal fees 35
Bad debt (recovery) expense (30) 377
Changes in operating assets and liabilities:    
Tenants' security accounts 5 (736)
Accounts receivable, prepaid expenses and other assets (20) 2,377
Accounts payable, accrued expenses and deferred director compensation payable (2,143) (1,214)
Deferred revenue 110 (681)
Due to affiliate - accrued interest (47)
Net cash provided by operating activities 308 2,920
Investing activities:    
(Cash outlays) proceeds from sale of Maryland properties, net (446) 246,089
Proceeds from payment of secured loans receivable inclusive of accrued interest 5,094
Capital improvements - existing properties (908) (676)
Deferred leasing costs (78) (88)
Distribution from investment in tenancy-in-common 357
Net cash (used in) provided by investing activities (1,432) 250,776
Financing activities:    
Repayment of mortgages (764) (171,586)
Proceeds from mortgage loan refinancing 7,500
Proceeds from exercise of stock options 1,233
Deferred financing costs (326) (246)
Due to affiliate - loan repayment (3,205)
Dividends paid (11,114) (1,372)
Distributions to noncontrolling interests in subsidiaries (2,054) (19,880)
Net cash used in financing activities (13,025) (188,789)
Net (decrease) increase in cash, cash equivalents and restricted cash (14,149) 64,907
Cash, cash equivalents and restricted cash, beginning of period 58,500 39,045
Cash, cash equivalents and restricted cash, end of period 44,351 103,952
Supplemental disclosure of cash flow data:    
Interest paid 3,555 3,900
Investing activities:    
Accrued transactional costs for sale of Maryland properties 326
Accrued capital expenditures, construction costs and pre-development costs 82 93
Financing activities:    
Dividends declared but not paid 372 686
Dividends paid in share units 35
Cash and cash equivalents 35,717 95,748
Tenants' security accounts 1,000 1,030
Funds held in post-closing escrow 4,651 6,251
Mortgage escrows (included in prepaid expenses and other assets) 2,983 923
Total cash, cash equivalents and restricted cash $ 44,351 $ 103,952