XML 31 R25.htm IDEA: XBRL DOCUMENT v2.4.1.9
Subsequent Events
12 Months Ended
Nov. 30, 2014
Subsequent Events.  
Subsequent Events

16. Subsequent Events

        In accordance with FASB ASC 855, "Subsequent Events," Griffin has evaluated all events or transactions occurring after November 30, 2014, the balance sheet date, and noted that there have been no such events or transactions which would require recognition or disclosure in the consolidated financial statements as of and for the year ended November 30, 2014, other than the disclosures herein.

        On December 31, 2014, two subsidiaries of Griffin closed on the refinancing of a nonrecourse mortgage loan with First Niagara Bank that was originally due September 1, 2023. The new mortgage is for $21,600, has a ten-year term, and is collateralized by a 228,000 square foot industrial building in Lower Nazareth, Pennsylvania along with an adjacent 303,000 square foot industrial building (see Note 8).