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Investments in Foreclosed Real Estate and Distressed Loans
 9 Months Ended
Jul. 31, 2016
Investments in Non-Performing Loan Portfolios and Foreclosed Real Estate [Abstract]  
Investments in Foreclosed Real Estate and Distressed Loans
Investments in Foreclosed Real Estate and Distressed Loans
Investments in REO and distressed loans consisted of the following, as of the dates indicated (amounts in thousands):
 
July 31,
2016
 
October 31,
2015
Investment in REO:
 
 
 
Held and used classification
$
11,172

 
$
48,514

Held for sale classification
2,515

 
1,719

 
13,687

 
50,233

Investment in distressed loans


 
1,497

 
$
13,687

 
$
51,730


The table below provides, for the periods indicated, the activity in REO (amounts in thousands):
 
Nine months ended July 31,
 
Three months ended July 31,
 
2016

2015
 
2016
 
2015
Balance, beginning of period
$
50,233

 
$
69,799

 
$
14,576

 
$
63,680

Additions
964

 
2,304

 
98

 
400

Sales
(36,485
)
 
(14,139
)
 
(757
)
 
(6,471
)
Impairments
(943
)
 
(183
)
 
(230
)
 


Depreciation
(82
)
 
(257
)
 


 
(85
)
Balance, end of period
$
13,687

 
$
57,524

 
$
13,687

 
$
57,524


In the second quarter of fiscal 2016, we sold certain REO and distressed loans to an unconsolidated entity in which we have an interest for $24.1 million. See Note 3, “Investments in Unconsolidated Entities – Gibraltar Joint Ventures,” for additional information regarding this sale.