Note 14 –Purchase and Sale Agreement:

On May 26, 2026, FREIT (the “Seller”) entered into a Purchase and Sale Agreement (the “Westwood Plaza Agreement”) with an affiliate of Regency Centers Corporation (the “Purchaser”), pursuant to which the Seller will sell to the Purchaser 100% of Seller’s ownership interests in the Westwood Plaza shopping center located at 700 Broadway in Westwood, New Jersey (“Westwood Plaza”) in exchange for the purchase price of $28,800,000, subject to the terms and conditions of the Westwood Plaza Agreement.

Upon signing the Westwood Plaza Agreement, the Purchaser delivered into escrow held by the title company a deposit in the amount of $1,200,000 (the “Initial Westwood Plaza Deposit”), which is refundable during a 120-day due diligence period immediately following the signing. After the expiration of this period on September 23, 2026, the Initial Westwood Plaza Deposit becomes non-refundable except in connection with certain rights to terminate the Westwood Plaza Agreement. If the Purchaser elects to proceed with the transaction after the expiration of the initial 120-day due diligence period, the Purchaser is obligated to deposit into escrow an additional amount of $1,000,000, which is non-refundable except in connection with certain rights to terminate the Westwood Plaza Agreement. Upon expiration of the initial 120-day due diligence period, the Purchaser has the option of entering into a second due diligence period for up to an additional nine months. The Purchaser is obligated to pay to the Seller $50,000 for each month that it elects to engage in due diligence during the second due diligence period. Payments made by the Purchaser to extend the due diligence period are non-refundable except in the event of a breach by Seller and are not applied to the purchase price at closing.

The Westwood Plaza Agreement contains customary representations, warranties and indemnity provisions. The parties’ respective obligations under the Westwood Plaza Agreement are subject to certain customary conditions and termination rights, including the right of either the Seller or the Purchaser to terminate the Westwood Plaza Agreement if the closing has not occurred on or before August 15, 2027. There is no financing contingency under the Westwood Plaza Agreement.

The Board unanimously approved the Westwood Plaza Agreement and the transaction contemplated thereby.