Fair value of long-term debt

9 Months Ended

Jul. 31, 2011

Fair value of long-term debt [Abstract]

Note 7 – Fair value of long-term debt:

The following table shows the estimated fair value and carrying value of FREIT's long-term debt at July 31, 2011 and October 31, 2010:

	July 31,		October 31,
($ in Millions)	2011		2010

Fair Value	$	207.6	$	212.1

Carrying Value	$	202.7	$	204.6

Fair values are estimated based on market interest rates at July 31, 2011 and October 31, 2010 and on discounted cash flow analysis. Changes in assumptions or estimation methods may significantly affect these fair value estimates.