v3.26.1
Investment in Tenancy-in-Common (Tables)
 6 Months Ended
Apr. 30, 2026
Investment in Tenancy-in-Common [Abstract]  
Schedule of Balance Sheets of the Pierre Towers Property

The following table summarizes the balance sheets of the Pierre Towers property as of April 30, 2026 and October 31, 2025, accounted for by the equity method:

 

    April 30,     October 31,  
    2026     2025  
    (In Thousands of Dollars)  
             
Real estate, net   $ 71,347     $ 71,928  
Cash and cash equivalents     517       335  
Tenants' security accounts     598       563  
Receivables and other assets     577       575  
Total assets   $ 73,039     $ 73,401  
                 
Mortgages payable, net of unamortized debt issuance costs   $ 45,565     $ 46,173  
Accounts payable and accrued expenses     747       480  
Tenants' security deposits     594       562  
Deferred revenue     205       152  
Equity     25,928       26,034  
Total liabilities & equity   $ 73,039     $ 73,401  
                 
FREIT's investment in TIC (65% interest)   $ 16,853     $ 16,922  
Schedule of Statements of Operations of the Pierre Towers Property

The following table summarizes the statements of operations of the Pierre Towers property for the six and three months ended April 30, 2026 and 2025, accounted for by the equity method:

 

    Six Months Ended April 30,     Three Months Ended April 30,  
    2026     2025     2026     2025  
    (In Thousands of Dollars)     (In Thousands of Dollars)  
                         
Revenue   $ 4,470     $ 4,369     $ 2,253     $ 2,192  
Operating expenses     2,634       2,478       1,386       1,241  
Depreciation     1,208       1,126       605       564  
Operating income     628       765       262       387  
                                 
Interest income     13       36       7       17  
Interest expense including amortization                                
  of deferred financing costs     (747 )     (765 )     (373 )     (382 )
                                 
Net (loss) income   $ (106 )   $ 36     $ (104 )   $ 22  
                                 
FREIT's share of (loss) income on investment in TIC (65% interest)   $ (69 )   $ 23     $ (68 )   $ 14