<?xml version="1.0" encoding="ASCII"?>
<!-- XBRL document created with Praxa -->
<!-- Copyright (c) 2026 Praxa LLC. All Rights Reserved.-->
<!-- Creation Date: 2026-09-09T00:36:04.7946+00:00 -->
<xs:schema targetNamespace="http://FREVS.cm/20260731" attributeFormDefault="unqualified" elementFormDefault="qualified" xmlns:xs="http://www.w3.org/2001/XMLSchema" xmlns:link="http://www.xbrl.org/2003/linkbase" xmlns:xlink="http://www.w3.org/1999/xlink" xmlns:frevs="http://FREVS.cm/20260731" xmlns:us-gaap="http://fasb.org/us-gaap/2026" xmlns:xbrli="http://www.xbrl.org/2003/instance" xmlns:dtr="http://www.xbrl.org/dtr/type/2024-01-31" xmlns:srt="http://fasb.org/srt/2026" xmlns:xbrldt="http://xbrl.org/2005/xbrldt" xmlns:dtr-types="http://www.xbrl.org/dtr/type/2024-01-31" xmlns:dei="http://xbrl.sec.gov/dei/2026" xmlns:enum2="http://xbrl.org/2020/extensible-enumerations-2.0" xmlns:ecd-sub="http://xbrl.sec.gov/ecd-sub/2026">
  <xs:import namespace="http://fasb.org/us-gaap/2026" schemaLocation="https://xbrl.fasb.org/us-gaap/2026/elts/us-gaap-2026.xsd" />
  <xs:import namespace="http://www.xbrl.org/2003/instance" schemaLocation="http://www.xbrl.org/2003/xbrl-instance-2003-12-31.xsd" />
  <xs:import namespace="http://www.xbrl.org/dtr/type/2024-01-31" schemaLocation="https://www.xbrl.org/dtr/type/2024-01-31/types.xsd" />
  <xs:import namespace="http://fasb.org/srt/2026" schemaLocation="https://xbrl.fasb.org/srt/2026/elts/srt-2026.xsd" />
  <xs:import namespace="http://xbrl.org/2005/xbrldt" schemaLocation="http://www.xbrl.org/2005/xbrldt-2005.xsd" />
  <xs:import namespace="http://xbrl.sec.gov/dei/2026" schemaLocation="https://xbrl.sec.gov/dei/2026/dei-2026.xsd" />
  <xs:import namespace="http://xbrl.org/2020/extensible-enumerations-2.0" schemaLocation="https://www.xbrl.org/2020/extensible-enumerations-2.0.xsd" />
  <xs:import namespace="http://xbrl.sec.gov/ecd-sub/2026" schemaLocation="https://xbrl.sec.gov/ecd/2026/ecd-sub-2026.xsd" />
  <xs:annotation>
    <xs:appinfo>
      <link:linkbaseRef xlink:arcrole="http://www.w3.org/1999/xlink/properties/linkbase" xlink:href="frevs-20260731_pre.xml" xlink:role="http://www.xbrl.org/2003/role/presentationLinkbaseRef" xlink:title="Presentation link" xlink:type="simple" />
      <link:linkbaseRef xlink:arcrole="http://www.w3.org/1999/xlink/properties/linkbase" xlink:href="frevs-20260731_lab.xml" xlink:role="http://www.xbrl.org/2003/role/labelLinkbaseRef" xlink:title="Label link" xlink:type="simple" />
      <link:linkbaseRef xlink:arcrole="http://www.w3.org/1999/xlink/properties/linkbase" xlink:href="frevs-20260731_def.xml" xlink:role="http://www.xbrl.org/2003/role/definitionLinkbaseRef" xlink:title="Definition link" xlink:type="simple" />
      <link:linkbaseRef xlink:arcrole="http://www.w3.org/1999/xlink/properties/linkbase" xlink:href="frevs-20260731_cal.xml" xlink:role="http://www.xbrl.org/2003/role/calculationLinkbaseRef" xlink:title="Calculation link" xlink:type="simple" />
      <link:roleType roleURI="http://FREVS.cm/20260731/role/CoverPage" id="CoverPage">
        <link:definition>995300 - Document - Cover Page</link:definition>
        <link:usedOn>link:presentationLink</link:usedOn>
        <link:usedOn>link:calculationLink</link:usedOn>
        <link:usedOn>link:definitionLink</link:usedOn>
      </link:roleType>
      <link:roleType roleURI="http://FREVS.cm/20260731/role/CondensedConsolidatedBalanceSheetsUnaudited" id="CondensedConsolidatedBalanceSheetsUnaudited">
        <link:definition>995301 - Statement - Condensed Consolidated Balance Sheets (Unaudited)</link:definition>
        <link:usedOn>link:presentationLink</link:usedOn>
        <link:usedOn>link:calculationLink</link:usedOn>
        <link:usedOn>link:definitionLink</link:usedOn>
      </link:roleType>
      <link:roleType roleURI="http://FREVS.cm/20260731/role/CondensedConsolidatedBalanceSheetsUnauditedParentheticals" id="CondensedConsolidatedBalanceSheetsUnauditedParentheticals">
        <link:definition>995302 - Statement - Condensed Consolidated Balance Sheets (Unaudited) (Parentheticals)</link:definition>
        <link:usedOn>link:presentationLink</link:usedOn>
        <link:usedOn>link:calculationLink</link:usedOn>
        <link:usedOn>link:definitionLink</link:usedOn>
      </link:roleType>
      <link:roleType roleURI="http://FREVS.cm/20260731/role/CondensedConsolidatedStatementsofIncomeUnaudited" id="CondensedConsolidatedStatementsofIncomeUnaudited">
        <link:definition>995303 - Statement - Condensed Consolidated Statements of Income (Unaudited)</link:definition>
        <link:usedOn>link:presentationLink</link:usedOn>
        <link:usedOn>link:calculationLink</link:usedOn>
        <link:usedOn>link:definitionLink</link:usedOn>
      </link:roleType>
      <link:roleType roleURI="http://FREVS.cm/20260731/role/CondensedConsolidatedStatementsofComprehensiveIncomeUnaudited" id="CondensedConsolidatedStatementsofComprehensiveIncomeUnaudited">
        <link:definition>995304 - Statement - Condensed Consolidated Statements of Comprehensive Income (Unaudited)</link:definition>
        <link:usedOn>link:presentationLink</link:usedOn>
        <link:usedOn>link:calculationLink</link:usedOn>
        <link:usedOn>link:definitionLink</link:usedOn>
      </link:roleType>
      <link:roleType roleURI="http://FREVS.cm/20260731/role/CondensedConsolidatedStatementsofEquityUnaudited" id="CondensedConsolidatedStatementsofEquityUnaudited">
        <link:definition>995305 - Statement - Condensed Consolidated Statements of Equity (Unaudited)</link:definition>
        <link:usedOn>link:presentationLink</link:usedOn>
        <link:usedOn>link:calculationLink</link:usedOn>
        <link:usedOn>link:definitionLink</link:usedOn>
      </link:roleType>
      <link:roleType roleURI="http://FREVS.cm/20260731/role/CondensedConsolidatedStatementsofCashFlowsUnaudited" id="CondensedConsolidatedStatementsofCashFlowsUnaudited">
        <link:definition>995306 - Statement - Condensed Consolidated Statements of Cash Flows (Unaudited)</link:definition>
        <link:usedOn>link:presentationLink</link:usedOn>
        <link:usedOn>link:calculationLink</link:usedOn>
        <link:usedOn>link:definitionLink</link:usedOn>
      </link:roleType>
      <link:roleType roleURI="http://FREVS.cm/20260731/role/BasisofPresentation" id="BasisofPresentation">
        <link:definition>995307 - Disclosure - Basis of Presentation</link:definition>
        <link:usedOn>link:presentationLink</link:usedOn>
        <link:usedOn>link:calculationLink</link:usedOn>
        <link:usedOn>link:definitionLink</link:usedOn>
      </link:roleType>
      <link:roleType roleURI="http://FREVS.cm/20260731/role/RecentlyIssuedAccountingStandards" id="RecentlyIssuedAccountingStandards">
        <link:definition>995308 - Disclosure - Recently Issued Accounting Standards</link:definition>
        <link:usedOn>link:presentationLink</link:usedOn>
        <link:usedOn>link:calculationLink</link:usedOn>
        <link:usedOn>link:definitionLink</link:usedOn>
      </link:roleType>
      <link:roleType roleURI="http://FREVS.cm/20260731/role/DividendsandEarningsPerShare" id="DividendsandEarningsPerShare">
        <link:definition>995309 - Disclosure - Dividends and Earnings Per Share</link:definition>
        <link:usedOn>link:presentationLink</link:usedOn>
        <link:usedOn>link:calculationLink</link:usedOn>
        <link:usedOn>link:definitionLink</link:usedOn>
      </link:roleType>
      <link:roleType roleURI="http://FREVS.cm/20260731/role/FairValueMeasurements" id="FairValueMeasurements">
        <link:definition>995310 - Disclosure - Fair Value Measurements</link:definition>
        <link:usedOn>link:presentationLink</link:usedOn>
        <link:usedOn>link:calculationLink</link:usedOn>
        <link:usedOn>link:definitionLink</link:usedOn>
      </link:roleType>
      <link:roleType roleURI="http://FREVS.cm/20260731/role/InvestmentinTenancyInCommon" id="InvestmentinTenancyInCommon">
        <link:definition>995311 - Disclosure - Investment in Tenancy-In-Common</link:definition>
        <link:usedOn>link:presentationLink</link:usedOn>
        <link:usedOn>link:calculationLink</link:usedOn>
        <link:usedOn>link:definitionLink</link:usedOn>
      </link:roleType>
      <link:roleType roleURI="http://FREVS.cm/20260731/role/ManagementAgreementFeesandTransactionswithRelatedParties" id="ManagementAgreementFeesandTransactionswithRelatedParties">
        <link:definition>995312 - Disclosure - Management Agreement, Fees and Transactions with Related Parties</link:definition>
        <link:usedOn>link:presentationLink</link:usedOn>
        <link:usedOn>link:calculationLink</link:usedOn>
        <link:usedOn>link:definitionLink</link:usedOn>
      </link:roleType>
      <link:roleType roleURI="http://FREVS.cm/20260731/role/MortgagesPayableandLineofCredit" id="MortgagesPayableandLineofCredit">
        <link:definition>995313 - Disclosure - Mortgages Payable and Line of Credit</link:definition>
        <link:usedOn>link:presentationLink</link:usedOn>
        <link:usedOn>link:calculationLink</link:usedOn>
        <link:usedOn>link:definitionLink</link:usedOn>
      </link:roleType>
      <link:roleType roleURI="http://FREVS.cm/20260731/role/SegmentInformation" id="SegmentInformation">
        <link:definition>995314 - Disclosure - Segment Information</link:definition>
        <link:usedOn>link:presentationLink</link:usedOn>
        <link:usedOn>link:calculationLink</link:usedOn>
        <link:usedOn>link:definitionLink</link:usedOn>
      </link:roleType>
      <link:roleType roleURI="http://FREVS.cm/20260731/role/IncomeTaxes" id="IncomeTaxes">
        <link:definition>995315 - Disclosure - Income Taxes</link:definition>
        <link:usedOn>link:presentationLink</link:usedOn>
        <link:usedOn>link:calculationLink</link:usedOn>
        <link:usedOn>link:definitionLink</link:usedOn>
      </link:roleType>
      <link:roleType roleURI="http://FREVS.cm/20260731/role/EquityIncentivePlan" id="EquityIncentivePlan">
        <link:definition>995316 - Disclosure - Equity Incentive Plan</link:definition>
        <link:usedOn>link:presentationLink</link:usedOn>
        <link:usedOn>link:calculationLink</link:usedOn>
        <link:usedOn>link:definitionLink</link:usedOn>
      </link:roleType>
      <link:roleType roleURI="http://FREVS.cm/20260731/role/RentalIncome" id="RentalIncome">
        <link:definition>995317 - Disclosure - Rental Income</link:definition>
        <link:usedOn>link:presentationLink</link:usedOn>
        <link:usedOn>link:calculationLink</link:usedOn>
        <link:usedOn>link:definitionLink</link:usedOn>
      </link:roleType>
      <link:roleType roleURI="http://FREVS.cm/20260731/role/PropertyDisposition" id="PropertyDisposition">
        <link:definition>995318 - Disclosure - Property Disposition</link:definition>
        <link:usedOn>link:presentationLink</link:usedOn>
        <link:usedOn>link:calculationLink</link:usedOn>
        <link:usedOn>link:definitionLink</link:usedOn>
      </link:roleType>
      <link:roleType roleURI="http://FREVS.cm/20260731/role/AdoptionofPlanofVoluntaryLiquidation" id="AdoptionofPlanofVoluntaryLiquidation">
        <link:definition>995319 - Disclosure - Adoption of Plan of Voluntary Liquidation</link:definition>
        <link:usedOn>link:presentationLink</link:usedOn>
        <link:usedOn>link:calculationLink</link:usedOn>
        <link:usedOn>link:definitionLink</link:usedOn>
      </link:roleType>
      <link:roleType roleURI="http://FREVS.cm/20260731/role/PurchaseandSaleAgreement" id="PurchaseandSaleAgreement">
        <link:definition>995320 - Disclosure - Purchase and Sale Agreement</link:definition>
        <link:usedOn>link:presentationLink</link:usedOn>
        <link:usedOn>link:calculationLink</link:usedOn>
        <link:usedOn>link:definitionLink</link:usedOn>
      </link:roleType>
      <link:roleType roleURI="http://FREVS.cm/20260731/role/StockholderRightsAgreement" id="StockholderRightsAgreement">
        <link:definition>995321 - Disclosure - Stockholder Rights Agreement</link:definition>
        <link:usedOn>link:presentationLink</link:usedOn>
        <link:usedOn>link:calculationLink</link:usedOn>
        <link:usedOn>link:definitionLink</link:usedOn>
      </link:roleType>
      <link:roleType roleURI="http://FREVS.cm/20260731/role/InvestmentinTenancyinCommonTables" id="InvestmentinTenancyinCommonTables">
        <link:definition>996322 - Disclosure - Investment in Tenancy-in-Common (Tables)</link:definition>
        <link:usedOn>link:presentationLink</link:usedOn>
        <link:usedOn>link:calculationLink</link:usedOn>
        <link:usedOn>link:definitionLink</link:usedOn>
      </link:roleType>
      <link:roleType roleURI="http://FREVS.cm/20260731/role/MortgagesPayableandLineofCreditTables" id="MortgagesPayableandLineofCreditTables">
        <link:definition>996323 - Disclosure - Mortgages Payable and Line of Credit (Tables)</link:definition>
        <link:usedOn>link:presentationLink</link:usedOn>
        <link:usedOn>link:calculationLink</link:usedOn>
        <link:usedOn>link:definitionLink</link:usedOn>
      </link:roleType>
      <link:roleType roleURI="http://FREVS.cm/20260731/role/SegmentInformationTables" id="SegmentInformationTables">
        <link:definition>996324 - Disclosure - Segment Information (Tables)</link:definition>
        <link:usedOn>link:presentationLink</link:usedOn>
        <link:usedOn>link:calculationLink</link:usedOn>
        <link:usedOn>link:definitionLink</link:usedOn>
      </link:roleType>
      <link:roleType roleURI="http://FREVS.cm/20260731/role/RentalIncomeTables" id="RentalIncomeTables">
        <link:definition>996325 - Disclosure - Rental Income (Tables)</link:definition>
        <link:usedOn>link:presentationLink</link:usedOn>
        <link:usedOn>link:calculationLink</link:usedOn>
        <link:usedOn>link:definitionLink</link:usedOn>
      </link:roleType>
      <link:roleType roleURI="http://FREVS.cm/20260731/role/DividendsandEarningsPerShareDetails" id="DividendsandEarningsPerShareDetails">
        <link:definition>996326 - Disclosure - Dividends and Earnings Per Share (Details)</link:definition>
        <link:usedOn>link:presentationLink</link:usedOn>
        <link:usedOn>link:calculationLink</link:usedOn>
        <link:usedOn>link:definitionLink</link:usedOn>
      </link:roleType>
      <link:roleType roleURI="http://FREVS.cm/20260731/role/FairValueMeasurementsDetails" id="FairValueMeasurementsDetails">
        <link:definition>996327 - Disclosure - Fair Value Measurements (Details)</link:definition>
        <link:usedOn>link:presentationLink</link:usedOn>
        <link:usedOn>link:calculationLink</link:usedOn>
        <link:usedOn>link:definitionLink</link:usedOn>
      </link:roleType>
      <link:roleType roleURI="http://FREVS.cm/20260731/role/InvestmentinTenancyinCommonDetails" id="InvestmentinTenancyinCommonDetails">
        <link:definition>996328 - Disclosure - Investment in Tenancy-in-Common (Details)</link:definition>
        <link:usedOn>link:presentationLink</link:usedOn>
        <link:usedOn>link:calculationLink</link:usedOn>
        <link:usedOn>link:definitionLink</link:usedOn>
      </link:roleType>
      <link:roleType roleURI="http://FREVS.cm/20260731/role/InvestmentinTenancyinCommonScheduleofBalanceSheetsofthePierreTowersPropertyDetails" id="InvestmentinTenancyinCommonScheduleofBalanceSheetsofthePierreTowersPropertyDetails">
        <link:definition>996329 - Disclosure - Investment in Tenancy-in-Common - Schedule of Balance Sheets of the Pierre Towers Property (Details)</link:definition>
        <link:usedOn>link:presentationLink</link:usedOn>
        <link:usedOn>link:calculationLink</link:usedOn>
        <link:usedOn>link:definitionLink</link:usedOn>
      </link:roleType>
      <link:roleType roleURI="http://FREVS.cm/20260731/role/InvestmentinTenancyinCommonScheduleofBalanceSheetsofthePierreTowersPropertyParentheticalsDetails" id="InvestmentinTenancyinCommonScheduleofBalanceSheetsofthePierreTowersPropertyParentheticalsDetails">
        <link:definition>996330 - Disclosure - Investment in Tenancy-in-Common - Schedule of Balance Sheets of the Pierre Towers Property (Parentheticals) (Details)</link:definition>
        <link:usedOn>link:presentationLink</link:usedOn>
        <link:usedOn>link:calculationLink</link:usedOn>
        <link:usedOn>link:definitionLink</link:usedOn>
      </link:roleType>
      <link:roleType roleURI="http://FREVS.cm/20260731/role/InvestmentinTenancyinCommonScheduleofStatementsofOperationsofthePierreTowersPropertyDetails" id="InvestmentinTenancyinCommonScheduleofStatementsofOperationsofthePierreTowersPropertyDetails">
        <link:definition>996331 - Disclosure - Investment in Tenancy-in-Common - Schedule of Statements of Operations of the Pierre Towers Property (Details)</link:definition>
        <link:usedOn>link:presentationLink</link:usedOn>
        <link:usedOn>link:calculationLink</link:usedOn>
        <link:usedOn>link:definitionLink</link:usedOn>
      </link:roleType>
      <link:roleType roleURI="http://FREVS.cm/20260731/role/InvestmentinTenancyinCommonScheduleofStatementsofOperationsofthePierreTowersPropertyParentheticalsDetails" id="InvestmentinTenancyinCommonScheduleofStatementsofOperationsofthePierreTowersPropertyParentheticalsDetails">
        <link:definition>996332 - Disclosure - Investment in Tenancy-in-Common - Schedule of Statements of Operations of the Pierre Towers Property (Parentheticals) (Details)</link:definition>
        <link:usedOn>link:presentationLink</link:usedOn>
        <link:usedOn>link:calculationLink</link:usedOn>
        <link:usedOn>link:definitionLink</link:usedOn>
      </link:roleType>
      <link:roleType roleURI="http://FREVS.cm/20260731/role/ManagementAgreementFeesandTransactionswithRelatedPartiesDetails" id="ManagementAgreementFeesandTransactionswithRelatedPartiesDetails">
        <link:definition>996333 - Disclosure - Management Agreement, Fees and Transactions with Related Parties (Details)</link:definition>
        <link:usedOn>link:presentationLink</link:usedOn>
        <link:usedOn>link:calculationLink</link:usedOn>
        <link:usedOn>link:definitionLink</link:usedOn>
      </link:roleType>
      <link:roleType roleURI="http://FREVS.cm/20260731/role/MortgagesPayableandLineofCreditDetails" id="MortgagesPayableandLineofCreditDetails">
        <link:definition>996334 - Disclosure - Mortgages Payable and Line of Credit (Details)</link:definition>
        <link:usedOn>link:presentationLink</link:usedOn>
        <link:usedOn>link:calculationLink</link:usedOn>
        <link:usedOn>link:definitionLink</link:usedOn>
      </link:roleType>
      <link:roleType roleURI="http://FREVS.cm/20260731/role/MortgagesPayableandLineofCreditScheduleofMortgagesPayableDetails" id="MortgagesPayableandLineofCreditScheduleofMortgagesPayableDetails">
        <link:definition>996335 - Disclosure - Mortgages Payable and Line of Credit - Schedule of Mortgages Payable (Details)</link:definition>
        <link:usedOn>link:presentationLink</link:usedOn>
        <link:usedOn>link:calculationLink</link:usedOn>
        <link:usedOn>link:definitionLink</link:usedOn>
      </link:roleType>
      <link:roleType roleURI="http://FREVS.cm/20260731/role/MortgagesPayableandLineofCreditScheduleofRemainingPrincipalAmountsDetails" id="MortgagesPayableandLineofCreditScheduleofRemainingPrincipalAmountsDetails">
        <link:definition>996336 - Disclosure - Mortgages Payable and Line of Credit - Schedule of Remaining Principal Amounts (Details)</link:definition>
        <link:usedOn>link:presentationLink</link:usedOn>
        <link:usedOn>link:calculationLink</link:usedOn>
        <link:usedOn>link:definitionLink</link:usedOn>
      </link:roleType>
      <link:roleType roleURI="http://FREVS.cm/20260731/role/MortgagesPayableandLineofCreditScheduleofEstimatedFairValueandNetCarryingValueofFreitsLongTermDebtDetails" id="MortgagesPayableandLineofCreditScheduleofEstimatedFairValueandNetCarryingValueofFreitsLongTermDebtDetails">
        <link:definition>996337 - Disclosure - Mortgages Payable and Line of Credit - Schedule of Estimated Fair Value and Net Carrying Value of Freit&#8217;s Long-Term Debt (Details)</link:definition>
        <link:usedOn>link:presentationLink</link:usedOn>
        <link:usedOn>link:calculationLink</link:usedOn>
        <link:usedOn>link:definitionLink</link:usedOn>
      </link:roleType>
      <link:roleType roleURI="http://FREVS.cm/20260731/role/SegmentInformationDetails" id="SegmentInformationDetails">
        <link:definition>996338 - Disclosure - Segment Information (Details)</link:definition>
        <link:usedOn>link:presentationLink</link:usedOn>
        <link:usedOn>link:calculationLink</link:usedOn>
        <link:usedOn>link:definitionLink</link:usedOn>
      </link:roleType>
      <link:roleType roleURI="http://FREVS.cm/20260731/role/SegmentInformationScheduleofConsolidatedNetIncomeAttributabletoCommonEquityDetails" id="SegmentInformationScheduleofConsolidatedNetIncomeAttributabletoCommonEquityDetails">
        <link:definition>996339 - Disclosure - Segment Information - Schedule of Consolidated Net Income Attributable to Common Equity (Details)</link:definition>
        <link:usedOn>link:presentationLink</link:usedOn>
        <link:usedOn>link:calculationLink</link:usedOn>
        <link:usedOn>link:definitionLink</link:usedOn>
      </link:roleType>
      <link:roleType roleURI="http://FREVS.cm/20260731/role/IncomeTaxesDetails" id="IncomeTaxesDetails">
        <link:definition>996340 - Disclosure - Income Taxes (Details)</link:definition>
        <link:usedOn>link:presentationLink</link:usedOn>
        <link:usedOn>link:calculationLink</link:usedOn>
        <link:usedOn>link:definitionLink</link:usedOn>
      </link:roleType>
      <link:roleType roleURI="http://FREVS.cm/20260731/role/EquityIncentivePlanDetails" id="EquityIncentivePlanDetails">
        <link:definition>996341 - Disclosure - Equity Incentive Plan (Details)</link:definition>
        <link:usedOn>link:presentationLink</link:usedOn>
        <link:usedOn>link:calculationLink</link:usedOn>
        <link:usedOn>link:definitionLink</link:usedOn>
      </link:roleType>
      <link:roleType roleURI="http://FREVS.cm/20260731/role/RentalIncomeDetails" id="RentalIncomeDetails">
        <link:definition>996342 - Disclosure - Rental Income (Details)</link:definition>
        <link:usedOn>link:presentationLink</link:usedOn>
        <link:usedOn>link:calculationLink</link:usedOn>
        <link:usedOn>link:definitionLink</link:usedOn>
      </link:roleType>
      <link:roleType roleURI="http://FREVS.cm/20260731/role/RentalIncomeScheduleofMinimumFixedLeaseConsiderationUnderNonCancelableTenantOperatingLeasesDetails" id="RentalIncomeScheduleofMinimumFixedLeaseConsiderationUnderNonCancelableTenantOperatingLeasesDetails">
        <link:definition>996343 - Disclosure - Rental Income - Schedule of Minimum Fixed Lease Consideration Under Non-Cancelable Tenant Operating Leases (Details)</link:definition>
        <link:usedOn>link:presentationLink</link:usedOn>
        <link:usedOn>link:calculationLink</link:usedOn>
        <link:usedOn>link:definitionLink</link:usedOn>
      </link:roleType>
      <link:roleType roleURI="http://FREVS.cm/20260731/role/PropertyDispositionDetails" id="PropertyDispositionDetails">
        <link:definition>996344 - Disclosure - Property Disposition (Details)</link:definition>
        <link:usedOn>link:presentationLink</link:usedOn>
        <link:usedOn>link:calculationLink</link:usedOn>
        <link:usedOn>link:definitionLink</link:usedOn>
      </link:roleType>
      <link:roleType roleURI="http://FREVS.cm/20260731/role/PurchaseandSaleAgreementDetails" id="PurchaseandSaleAgreementDetails">
        <link:definition>996345 - Disclosure - Purchase and Sale Agreement (Details)</link:definition>
        <link:usedOn>link:presentationLink</link:usedOn>
        <link:usedOn>link:calculationLink</link:usedOn>
        <link:usedOn>link:definitionLink</link:usedOn>
      </link:roleType>
    </xs:appinfo>
  </xs:annotation>
  <xs:element id="frevs_PercentageOfFREITsInvestmentInTIC" name="PercentageOfFREITsInvestmentInTIC" type="dtr:percentItemType" substitutionGroup="xbrli:item" xbrli:periodType="instant" nillable="true" abstract="false" />
  <xs:element id="frevs_PierreTowersMember" name="PierreTowersMember" type="dtr:domainItemType" substitutionGroup="xbrli:item" xbrli:periodType="duration" nillable="true" abstract="true" />
  <xs:element id="frevs_ScheduleOfBalanceSheetsOfThePierreTowersPropertyAbstract" name="ScheduleOfBalanceSheetsOfThePierreTowersPropertyAbstract" type="xbrli:stringItemType" substitutionGroup="xbrli:item" xbrli:periodType="duration" nillable="true" abstract="true" />
  <xs:element id="frevs_ScheduleOfStatementsOfOperationsOfThePierreTowersPropertyAbstract" name="ScheduleOfStatementsOfOperationsOfThePierreTowersPropertyAbstract" type="xbrli:stringItemType" substitutionGroup="xbrli:item" xbrli:periodType="duration" nillable="true" abstract="true" />
  <xs:element id="frevs_ConnectOneBankMember" name="ConnectOneBankMember" type="dtr-types:domainItemType" substitutionGroup="xbrli:item" xbrli:periodType="duration" nillable="true" abstract="true" />
  <xs:element id="frevs_PercentageOfFREITsShareOfLossOnInvestmentInTIC" name="PercentageOfFREITsShareOfLossOnInvestmentInTIC" type="dtr:percentItemType" substitutionGroup="xbrli:item" xbrli:periodType="duration" nillable="true" abstract="false" />
  <xs:element id="frevs_AdditionalBorrowingsFromFREIT" name="AdditionalBorrowingsFromFREIT" type="xbrli:monetaryItemType" substitutionGroup="xbrli:item" xbrli:periodType="instant" nillable="true" abstract="false" xbrli:balance="debit" />
  <xs:element id="frevs_ExtendedMaturityDate" name="ExtendedMaturityDate" type="xbrli:durationItemType" substitutionGroup="xbrli:item" xbrli:periodType="duration" nillable="true" abstract="false" />
  <xs:element id="frevs_SandACommercialAssociatesLimitedPartnershipMember" name="SandACommercialAssociatesLimitedPartnershipMember" type="dtr-types:domainItemType" substitutionGroup="xbrli:item" xbrli:periodType="duration" nillable="true" abstract="true" />
  <xs:element id="frevs_PierreTowersLlcMember" name="PierreTowersLlcMember" type="dtr-types:domainItemType" substitutionGroup="xbrli:item" xbrli:periodType="duration" nillable="true" abstract="true" />
  <xs:element id="frevs_PierreTowersPropertyMember" name="PierreTowersPropertyMember" type="dtr-types:domainItemType" substitutionGroup="xbrli:item" xbrli:periodType="duration" nillable="true" abstract="true" />
  <xs:element id="frevs_PercentageOfManagementFeesOfRentCollected" name="PercentageOfManagementFeesOfRentCollected" type="dtr:percentItemType" substitutionGroup="xbrli:item" xbrli:periodType="duration" nillable="true" abstract="false" />
  <xs:element id="frevs_InvestmentinTenancyinCommonDetailsTable" name="InvestmentinTenancyinCommonDetailsTable" type="xbrli:stringItemType" substitutionGroup="xbrldt:hypercubeItem" xbrli:periodType="duration" nillable="true" abstract="true" />
  <xs:element id="frevs_InvestmentUndividedInterestRate" name="InvestmentUndividedInterestRate" type="dtr:percentItemType" substitutionGroup="xbrli:item" xbrli:periodType="duration" nillable="true" abstract="false" />
  <xs:element id="frevs_TICAgreementMember" name="TICAgreementMember" type="dtr:domainItemType" substitutionGroup="xbrli:item" xbrli:periodType="duration" nillable="true" abstract="true" />
  <xs:element id="frevs_FranklinCrossingPurchaseAndSaleAgreementAbstract" name="FranklinCrossingPurchaseAndSaleAgreementAbstract" type="xbrli:stringItemType" substitutionGroup="xbrli:item" xbrli:periodType="duration" nillable="true" abstract="true" />
  <xs:element id="frevs_NonRefundableAdditionalAmount" name="NonRefundableAdditionalAmount" type="xbrli:monetaryItemType" substitutionGroup="xbrli:item" xbrli:periodType="duration" nillable="true" abstract="false" xbrli:balance="debit" />
  <xs:element id="frevs_ReimbursementDueToFREIT" name="ReimbursementDueToFREIT" type="xbrli:monetaryItemType" substitutionGroup="xbrli:item" xbrli:periodType="instant" nillable="true" abstract="false" xbrli:balance="credit" />
  <xs:element id="frevs_EquityMethodInvestmentInTenancyincommon" name="EquityMethodInvestmentInTenancyincommon" type="xbrli:monetaryItemType" substitutionGroup="xbrli:item" xbrli:periodType="instant" nillable="true" abstract="false" xbrli:balance="debit" />
  <xs:element id="frevs_ReimbursementDueToFREITInvestment" name="ReimbursementDueToFREITInvestment" type="xbrli:monetaryItemType" substitutionGroup="xbrli:item" xbrli:periodType="instant" nillable="true" abstract="false" xbrli:balance="debit" />
  <xs:element id="frevs_PropertyDispositionTextBlock" name="PropertyDispositionTextBlock" type="dtr-types:textBlockItemType" substitutionGroup="xbrli:item" xbrli:periodType="duration" nillable="true" abstract="false" />
  <xs:element id="frevs_PurchaseAndSaleAgreementLineItems" name="PurchaseAndSaleAgreementLineItems" type="xbrli:stringItemType" substitutionGroup="xbrli:item" xbrli:periodType="duration" nillable="true" abstract="true" />
  <xs:element id="frevs_WestwoodPlazaAgreementMember" name="WestwoodPlazaAgreementMember" type="dtr-types:domainItemType" substitutionGroup="xbrli:item" xbrli:periodType="duration" nillable="true" abstract="true" />
  <xs:element id="frevs_FranklinCrossingAgreementMember" name="FranklinCrossingAgreementMember" type="dtr-types:domainItemType" substitutionGroup="xbrli:item" xbrli:periodType="duration" nillable="true" abstract="true" />
  <xs:element id="frevs_EquityIncentivePlanMember" name="EquityIncentivePlanMember" type="dtr-types:domainItemType" substitutionGroup="xbrli:item" xbrli:periodType="duration" nillable="true" abstract="true" />
  <xs:element id="frevs_RefundableDuringTheDayDueDiligencePeriod" name="RefundableDuringTheDayDueDiligencePeriod" type="xbrli:durationItemType" substitutionGroup="xbrli:item" xbrli:periodType="duration" nillable="true" abstract="false" />
  <xs:element id="frevs_ProceedWithTheTransactionAfterTheExpiration" name="ProceedWithTheTransactionAfterTheExpiration" type="xbrli:durationItemType" substitutionGroup="xbrli:item" xbrli:periodType="duration" nillable="true" abstract="false" />
  <xs:element id="frevs_ExpirationOfTheInitialDueDiligencePeriod" name="ExpirationOfTheInitialDueDiligencePeriod" type="xbrli:durationItemType" substitutionGroup="xbrli:item" xbrli:periodType="duration" nillable="true" abstract="false" />
  <xs:element id="frevs_FranklinCrossingMember" name="FranklinCrossingMember" type="dtr-types:domainItemType" substitutionGroup="xbrli:item" xbrli:periodType="duration" nillable="true" abstract="true" />
  <xs:element id="frevs_AccruedTransactionalCostsForSaleOfProperty" name="AccruedTransactionalCostsForSaleOfProperty" type="xbrli:monetaryItemType" substitutionGroup="xbrli:item" xbrli:periodType="duration" nillable="true" abstract="false" xbrli:balance="credit" />
  <xs:element id="frevs_PercentageOfSalesPrices" name="PercentageOfSalesPrices" type="dtr-types:percentItemType" substitutionGroup="xbrli:item" xbrli:periodType="duration" nillable="true" abstract="false" />
  <xs:element id="frevs_NetUnrealizedGainlossOnInvestmentInUSTreasurySecuritiesAvailableforsale" name="NetUnrealizedGainlossOnInvestmentInUSTreasurySecuritiesAvailableforsale" type="xbrli:monetaryItemType" substitutionGroup="xbrli:item" xbrli:periodType="duration" nillable="true" abstract="false" xbrli:balance="credit" />
  <xs:element id="frevs_NetUnrealizedLossOnInterestRateSwapContracts" name="NetUnrealizedLossOnInterestRateSwapContracts" type="xbrli:monetaryItemType" substitutionGroup="xbrli:item" xbrli:periodType="duration" nillable="true" abstract="false" xbrli:balance="credit" />
  <xs:element id="frevs_TenantReimbursementRevenue" name="TenantReimbursementRevenue" type="xbrli:monetaryItemType" substitutionGroup="xbrli:item" xbrli:periodType="duration" nillable="true" abstract="false" xbrli:balance="credit" />
  <xs:element id="frevs_ScheduleOfConsolidatedNetIncomeAttributableToCommonEquityAbstract" name="ScheduleOfConsolidatedNetIncomeAttributableToCommonEquityAbstract" type="xbrli:stringItemType" substitutionGroup="xbrli:item" xbrli:periodType="duration" nillable="true" abstract="true" />
  <xs:element id="frevs_ResidentialRealEstatesMember" name="ResidentialRealEstatesMember" type="dtr:domainItemType" substitutionGroup="xbrli:item" xbrli:periodType="duration" nillable="true" abstract="true" />
  <xs:element id="frevs_RecurringCapitalImprovementsResidential" name="RecurringCapitalImprovementsResidential" type="xbrli:monetaryItemType" substitutionGroup="xbrli:item" xbrli:periodType="duration" nillable="true" abstract="false" xbrli:balance="debit" />
  <xs:element id="frevs_RealEstateRentalRevenue" name="RealEstateRentalRevenue" type="xbrli:monetaryItemType" substitutionGroup="xbrli:item" xbrli:periodType="duration" nillable="true" abstract="false" xbrli:balance="credit" />
  <xs:element id="frevs_CommercialRealEstatesMember" name="CommercialRealEstatesMember" type="dtr:domainItemType" substitutionGroup="xbrli:item" xbrli:periodType="duration" nillable="true" abstract="true" />
  <xs:element id="frevs_DividendsandEarningsPerShareDetailsTable" name="DividendsandEarningsPerShareDetailsTable" type="xbrli:stringItemType" substitutionGroup="xbrldt:hypercubeItem" xbrli:periodType="duration" nillable="true" abstract="true" />
  <xs:element id="frevs_PercentageOfOrdinaryTaxableIncomeDistributed" name="PercentageOfOrdinaryTaxableIncomeDistributed" type="dtr:percentItemType" substitutionGroup="xbrli:item" xbrli:periodType="duration" nillable="true" abstract="false" />
  <xs:element id="frevs_PercentageOfOrdinaryTaxableIncome" name="PercentageOfOrdinaryTaxableIncome" type="dtr:percentItemType" substitutionGroup="xbrli:item" xbrli:periodType="duration" nillable="true" abstract="false" />
  <xs:element id="frevs_AccretedInterestOnInvestmentInUSTreasurySecurities" name="AccretedInterestOnInvestmentInUSTreasurySecurities" type="xbrli:monetaryItemType" substitutionGroup="xbrli:item" xbrli:periodType="duration" nillable="true" abstract="false" xbrli:balance="credit" />
  <xs:element id="frevs_FairValueMeasurementsDetailsTable" name="FairValueMeasurementsDetailsTable" type="xbrli:stringItemType" substitutionGroup="xbrldt:hypercubeItem" xbrli:periodType="duration" nillable="true" abstract="true" />
  <xs:element id="frevs_FREITMember" name="FREITMember" type="dtr:domainItemType" substitutionGroup="xbrli:item" xbrli:periodType="duration" nillable="true" abstract="true" />
  <xs:element id="frevs_StationPlaceSwapMember" name="StationPlaceSwapMember" type="dtr:domainItemType" substitutionGroup="xbrli:item" xbrli:periodType="duration" nillable="true" abstract="true" />
  <xs:element id="frevs_AllanTubinMember" name="AllanTubinMember" type="dtr:domainItemType" substitutionGroup="xbrli:item" xbrli:periodType="duration" nillable="true" abstract="true" />
  <xs:element id="frevs_DavidBHekemianMember" name="DavidBHekemianMember" type="dtr-types:domainItemType" substitutionGroup="xbrli:item" xbrli:periodType="duration" nillable="true" abstract="true" />
  <xs:element id="frevs_ExtensionOfLoan" name="ExtensionOfLoan" type="xbrli:monetaryItemType" substitutionGroup="xbrli:item" xbrli:periodType="duration" nillable="true" abstract="false" xbrli:balance="debit" />
  <xs:element id="frevs_FeesChargedToOperation" name="FeesChargedToOperation" type="xbrli:monetaryItemType" substitutionGroup="xbrli:item" xbrli:periodType="duration" nillable="true" abstract="false" xbrli:balance="debit" />
  <xs:element id="frevs_FeesIncurredRelatedToCommission" name="FeesIncurredRelatedToCommission" type="xbrli:monetaryItemType" substitutionGroup="xbrli:item" xbrli:periodType="duration" nillable="true" abstract="false" xbrli:balance="debit" />
  <xs:element id="frevs_FREITsMember" name="FREITsMember" type="dtr:domainItemType" substitutionGroup="xbrli:item" xbrli:periodType="duration" nillable="true" abstract="true" />
  <xs:element id="frevs_HekemianCoMember" name="HekemianCoMember" type="dtr:domainItemType" substitutionGroup="xbrli:item" xbrli:periodType="duration" nillable="true" abstract="true" />
  <xs:element id="frevs_WestwoodNewJerseyMember" name="WestwoodNewJerseyMember" type="dtr:domainItemType" substitutionGroup="xbrli:item" xbrli:periodType="duration" nillable="true" abstract="true" />
  <xs:element id="frevs_WestwoodHillsMember" name="WestwoodHillsMember" type="dtr:domainItemType" substitutionGroup="xbrli:item" xbrli:periodType="duration" nillable="true" abstract="true" />
  <xs:element id="frevs_ValleyNationalBankMember" name="ValleyNationalBankMember" type="dtr:domainItemType" substitutionGroup="xbrli:item" xbrli:periodType="duration" nillable="true" abstract="true" />
  <xs:element id="frevs_ProvidentBankMember" name="ProvidentBankMember" type="dtr:domainItemType" substitutionGroup="xbrli:item" xbrli:periodType="duration" nillable="true" abstract="true" />
  <xs:element id="frevs_PreaknessShoppingCenterMember" name="PreaknessShoppingCenterMember" type="dtr:domainItemType" substitutionGroup="xbrli:item" xbrli:periodType="duration" nillable="true" abstract="true" />
  <xs:element id="frevs_OutstandingBalance" name="OutstandingBalance" type="xbrli:monetaryItemType" substitutionGroup="xbrli:item" xbrli:periodType="duration" nillable="true" abstract="false" xbrli:balance="debit" />
  <xs:element id="frevs_MortgagesPayableandLineofCreditDetailsTable" name="MortgagesPayableandLineofCreditDetailsTable" type="xbrli:stringItemType" substitutionGroup="xbrldt:hypercubeItem" xbrli:periodType="duration" nillable="true" abstract="true" />
  <xs:element id="frevs_MortgageMember" name="MortgageMember" type="dtr:domainItemType" substitutionGroup="xbrli:item" xbrli:periodType="duration" nillable="true" abstract="true" />
  <xs:element id="frevs_MiddletownNyMortgageMember" name="MiddletownNyMortgageMember" type="dtr:domainItemType" substitutionGroup="xbrli:item" xbrli:periodType="duration" nillable="true" abstract="true" />
  <xs:element id="frevs_IncreasingBalanceFund" name="IncreasingBalanceFund" type="xbrli:monetaryItemType" substitutionGroup="xbrli:item" xbrli:periodType="instant" nillable="true" abstract="false" xbrli:balance="debit" />
  <xs:element id="frevs_MortgagesPayableAndLineOfCreditMember" name="MortgagesPayableAndLineOfCreditMember" type="dtr-types:domainItemType" substitutionGroup="xbrli:item" xbrli:periodType="duration" nillable="true" abstract="true" />
  <xs:element id="frevs_RevolvingCreditNoteMember" name="RevolvingCreditNoteMember" type="dtr-types:domainItemType" substitutionGroup="xbrli:item" xbrli:periodType="duration" nillable="true" abstract="true" />
  <xs:element id="frevs_WestwoodPlazaWestwoodNJMember" name="WestwoodPlazaWestwoodNJMember" type="dtr-types:domainItemType" substitutionGroup="xbrli:item" xbrli:periodType="duration" nillable="true" abstract="true" />
  <xs:element id="frevs_WestwoodHillsWestwoodNJMember" name="WestwoodHillsWestwoodNJMember" type="dtr-types:domainItemType" substitutionGroup="xbrli:item" xbrli:periodType="duration" nillable="true" abstract="true" />
  <xs:element id="frevs_SteubenArmsRiverEdgeNJMember" name="SteubenArmsRiverEdgeNJMember" type="dtr-types:domainItemType" substitutionGroup="xbrli:item" xbrli:periodType="duration" nillable="true" abstract="true" />
  <xs:element id="frevs_StationPlaceRedBankNJMember" name="StationPlaceRedBankNJMember" type="dtr-types:domainItemType" substitutionGroup="xbrli:item" xbrli:periodType="duration" nillable="true" abstract="true" />
  <xs:element id="frevs_ScheduleOfMortgagesPayableAndLineOfCreditAbstract" name="ScheduleOfMortgagesPayableAndLineOfCreditAbstract" type="xbrli:stringItemType" substitutionGroup="xbrli:item" xbrli:periodType="duration" nillable="true" abstract="true" />
  <xs:element id="frevs_RegencyClubMiddletownNYMember" name="RegencyClubMiddletownNYMember" type="dtr-types:domainItemType" substitutionGroup="xbrli:item" xbrli:periodType="duration" nillable="true" abstract="true" />
  <xs:element id="frevs_PreaknessSCWayneNJMember" name="PreaknessSCWayneNJMember" type="dtr-types:domainItemType" substitutionGroup="xbrli:item" xbrli:periodType="duration" nillable="true" abstract="true" />
  <xs:element id="frevs_FixedRateMortgagesPayableMember" name="FixedRateMortgagesPayableMember" type="dtr-types:domainItemType" substitutionGroup="xbrli:item" xbrli:periodType="duration" nillable="true" abstract="true" />
  <xs:element id="frevs_BerdanCourtWayneNJMember" name="BerdanCourtWayneNJMember" type="dtr-types:domainItemType" substitutionGroup="xbrli:item" xbrli:periodType="duration" nillable="true" abstract="true" />
  <xs:element id="frevs_YearsMinimumTermRangeOfResidentiallLeases" name="YearsMinimumTermRangeOfResidentiallLeases" type="xbrli:durationItemType" substitutionGroup="xbrli:item" xbrli:periodType="duration" nillable="true" abstract="false" />
  <xs:element id="frevs_SellerOwnershipInterest" name="SellerOwnershipInterest" type="dtr-types:percentItemType" substitutionGroup="xbrli:item" xbrli:periodType="duration" nillable="true" abstract="false" />
  <xs:element id="frevs_FREITsEquityIncentivePlanMember" name="FREITsEquityIncentivePlanMember" type="dtr-types:domainItemType" substitutionGroup="xbrli:item" xbrli:periodType="duration" nillable="true" abstract="true" />
  <xs:element id="frevs_AdoptionOfPlanOfVoluntaryLiquidationTextBlock" name="AdoptionOfPlanOfVoluntaryLiquidationTextBlock" type="dtr-types:textBlockItemType" substitutionGroup="xbrli:item" xbrli:periodType="duration" nillable="true" abstract="false" />
  <xs:element id="frevs_OtherComprehensiveIncomeLossUnrealizedlossGainOnInterestRateSwapContractsBeforeReclassifications" name="OtherComprehensiveIncomeLossUnrealizedlossGainOnInterestRateSwapContractsBeforeReclassifications" type="xbrli:monetaryItemType" substitutionGroup="xbrli:item" xbrli:periodType="duration" nillable="true" abstract="false" xbrli:balance="credit" />
  <xs:element id="frevs_OtherComprehensiveIncomeNetUnrealizedlossGainOnInterestRateSwapContracts" name="OtherComprehensiveIncomeNetUnrealizedlossGainOnInterestRateSwapContracts" type="xbrli:monetaryItemType" substitutionGroup="xbrli:item" xbrli:periodType="duration" nillable="true" abstract="false" xbrli:balance="credit" />
  <xs:element id="frevs_OtherComprehensiveIncomeReclassifiedFromAccumulatedOtherComprehensiveIncomeToInterestExpense" name="OtherComprehensiveIncomeReclassifiedFromAccumulatedOtherComprehensiveIncomeToInterestExpense" type="xbrli:monetaryItemType" substitutionGroup="xbrli:item" xbrli:periodType="duration" nillable="true" abstract="false" xbrli:balance="debit" />
  <xs:element id="frevs_TotalIndividualPropertyTerminationFeeAndSaleOfPropertyFee" name="TotalIndividualPropertyTerminationFeeAndSaleOfPropertyFee" type="dtr-types:percentItemType" substitutionGroup="xbrli:item" xbrli:periodType="duration" nillable="true" abstract="false" />
  <xs:element id="frevs_CashBonus" name="CashBonus" type="xbrli:monetaryItemType" substitutionGroup="xbrli:item" xbrli:periodType="duration" nillable="true" abstract="false" xbrli:balance="debit" />
  <xs:element id="frevs_AnnualCashRetainerFeePayable" name="AnnualCashRetainerFeePayable" type="xbrli:monetaryItemType" substitutionGroup="xbrli:item" xbrli:periodType="duration" nillable="true" abstract="false" xbrli:balance="debit" />
  <xs:element id="frevs_WaynePSCLLCMember" name="WaynePSCLLCMember" type="dtr-types:domainItemType" substitutionGroup="xbrli:item" xbrli:periodType="duration" nillable="true" abstract="true" />
  <xs:element id="frevs_HTPKELLCMember" name="HTPKELLCMember" type="dtr-types:domainItemType" substitutionGroup="xbrli:item" xbrli:periodType="duration" nillable="true" abstract="true" />
  <xs:element id="frevs_SaleOfFranklinCrossingShoppingCenter" name="SaleOfFranklinCrossingShoppingCenter" type="xbrli:monetaryItemType" substitutionGroup="xbrli:item" xbrli:periodType="duration" nillable="true" abstract="false" xbrli:balance="debit" />
  <xs:element id="frevs_PercentageOfPreferredMemberInterest" name="PercentageOfPreferredMemberInterest" type="dtr-types:percentItemType" substitutionGroup="xbrli:item" xbrli:periodType="duration" nillable="true" abstract="false" />
  <xs:element id="frevs_ContributeAmount" name="ContributeAmount" type="xbrli:monetaryItemType" substitutionGroup="xbrli:item" xbrli:periodType="duration" nillable="true" abstract="false" xbrli:balance="debit" />
  <xs:element id="frevs_PreferredMembersMember" name="PreferredMembersMember" type="dtr-types:domainItemType" substitutionGroup="xbrli:item" xbrli:periodType="duration" nillable="true" abstract="true" />
  <xs:element id="frevs_CommonMembersMember" name="CommonMembersMember" type="dtr-types:domainItemType" substitutionGroup="xbrli:item" xbrli:periodType="duration" nillable="true" abstract="true" />
  <xs:element id="frevs_HTPKMember" name="HTPKMember" type="dtr-types:domainItemType" substitutionGroup="xbrli:item" xbrli:periodType="duration" nillable="true" abstract="true" />
  <xs:element id="frevs_PercentageOfCommonPercentageInterests" name="PercentageOfCommonPercentageInterests" type="dtr-types:percentItemType" substitutionGroup="xbrli:item" xbrli:periodType="duration" nillable="true" abstract="false" />
  <xs:element id="frevs_HekemianMember" name="HekemianMember" type="dtr-types:domainItemType" substitutionGroup="xbrli:item" xbrli:periodType="duration" nillable="true" abstract="true" />
  <xs:element id="frevs_AggregateFundingAmount" name="AggregateFundingAmount" type="xbrli:monetaryItemType" substitutionGroup="xbrli:item" xbrli:periodType="duration" nillable="true" abstract="false" xbrli:balance="debit" />
  <xs:element id="frevs_TermOfRevolvingCreditNote" name="TermOfRevolvingCreditNote" type="xbrli:durationItemType" substitutionGroup="xbrli:item" xbrli:periodType="duration" nillable="true" abstract="false" />
  <xs:element id="frevs_PercentageOfCapitalGainFromSale" name="PercentageOfCapitalGainFromSale" type="dtr-types:percentItemType" substitutionGroup="xbrli:item" xbrli:periodType="duration" nillable="true" abstract="false" />
  <xs:element id="frevs_MortgageEscrowsincludedInPrepaidExpensesAndOtherAssets" name="MortgageEscrowsincludedInPrepaidExpensesAndOtherAssets" type="xbrli:monetaryItemType" substitutionGroup="xbrli:item" xbrli:periodType="instant" nillable="true" abstract="false" xbrli:balance="debit" />
  <xs:element id="frevs_DividendsDeclaredButNotPaid" name="DividendsDeclaredButNotPaid" type="xbrli:monetaryItemType" substitutionGroup="xbrli:item" xbrli:periodType="duration" nillable="true" abstract="false" xbrli:balance="credit" />
  <xs:element id="frevs_DeferredRentsStraightLineRent" name="DeferredRentsStraightLineRent" type="xbrli:monetaryItemType" substitutionGroup="xbrli:item" xbrli:periodType="duration" nillable="true" abstract="false" xbrli:balance="debit" />
  <xs:element id="frevs_InterestRateSwapContracts" name="InterestRateSwapContracts" type="xbrli:monetaryItemType" substitutionGroup="xbrli:item" xbrli:periodType="instant" nillable="true" abstract="false" xbrli:balance="debit" />
  <xs:element id="frevs_DeferredChargesNet" name="DeferredChargesNet" type="xbrli:monetaryItemType" substitutionGroup="xbrli:item" xbrli:periodType="instant" nillable="true" abstract="false" xbrli:balance="debit" />
  <xs:element id="frevs_DueToAffiliate" name="DueToAffiliate" type="xbrli:monetaryItemType" substitutionGroup="xbrli:item" xbrli:periodType="instant" nillable="true" abstract="false" xbrli:balance="credit" />
  <xs:element id="frevs_WaynePSCMember" name="WaynePSCMember" type="dtr-types:domainItemType" substitutionGroup="xbrli:item" xbrli:periodType="duration" nillable="true" abstract="true" />
  <xs:element id="frevs_ContributionsFromNoncontrollingInterestsInSubsidiaries" name="ContributionsFromNoncontrollingInterestsInSubsidiaries" type="xbrli:monetaryItemType" substitutionGroup="xbrli:item" xbrli:periodType="duration" nillable="true" abstract="false" xbrli:balance="credit" />
  <xs:element id="frevs_ManagementAgreementMember" name="ManagementAgreementMember" type="dtr-types:domainItemType" substitutionGroup="xbrli:item" xbrli:periodType="duration" nillable="true" abstract="true" />
  <xs:element id="frevs_ManagementAgreementFeesandTransactionswithRelatedPartyDetailsTable" name="ManagementAgreementFeesandTransactionswithRelatedPartyDetailsTable" type="xbrli:stringItemType" substitutionGroup="xbrldt:hypercubeItem" xbrli:periodType="duration" nillable="true" abstract="true" />
  <xs:element id="frevs_OwnershipMember" name="OwnershipMember" type="dtr:domainItemType" substitutionGroup="xbrli:item" xbrli:periodType="duration" nillable="true" abstract="true" />
  <xs:element id="frevs_RobertSHekemianJrMember" name="RobertSHekemianJrMember" type="dtr:domainItemType" substitutionGroup="xbrli:item" xbrli:periodType="duration" nillable="true" abstract="true" />
  <xs:element id="frevs_DueFromInvestmentInTenancyincommonForReimbursementOfCosts" name="DueFromInvestmentInTenancyincommonForReimbursementOfCosts" type="xbrli:monetaryItemType" substitutionGroup="xbrli:item" xbrli:periodType="duration" nillable="true" abstract="false" xbrli:balance="debit" />
  <xs:element id="frevs_DebtSecuritiesAvailableForSaleUnrealizedLoss" name="DebtSecuritiesAvailableForSaleUnrealizedLoss" type="xbrli:monetaryItemType" substitutionGroup="xbrli:item" xbrli:periodType="duration" nillable="true" abstract="false" xbrli:balance="debit" />
  <xs:element id="frevs_HekemianAndCoMember" name="HekemianAndCoMember" type="dtr-types:domainItemType" substitutionGroup="xbrli:item" xbrli:periodType="duration" nillable="true" abstract="true" />
</xs:schema>
