First Real Estate Investment Trust Of New Jersey, Inc. (OTC: FREVS)

First Real Estate Investment Trust Of New Jersey, Inc. operates as a real estate investment trust (REIT) focused on acquiring, developing, constructing, and holding real estate properties for long-term investment. The company primarily operates in the real estate sector, with a portfolio that includes both residential and commercial properties. First Real Estate Investment Trust Of New Jersey, Inc. was originally organized as a New Jersey Business Trust but reincorporated as a Maryland corporation in 2021. The company's investment strategy involves reviewing and evaluating potential real estate opportunities that complement its existing portfolio, generate increased income, and enhance the overall value of its investments.

The company generates revenue through the rental income from its properties, which include residential apartment communities and commercial properties consisting of multi and single tenanted properties. These properties are located in New Jersey and New York. First Real Estate Investment Trust Of New Jersey, Inc. also owns approximately 7.37 acres of unimproved land in New Jersey. The primary customer base for the company's residential properties includes individual tenants seeking rental housing, while the commercial properties cater to businesses looking for retail and office space.

• Commercial Properties: This segment includes five commercial properties containing a total of approximately 589,000 square feet of leasable space. The commercial properties cater to businesses in need of retail and office space. Notable properties include the Preakness Shopping Center, Westwood Plaza, and Franklin Crossing. The company's commercial properties generate revenue through leases with various tenants, including Stop & Shop Supermarket Co., TJ Maxx, T-Bowl, Inc., and CVS.

• Residential Properties: This segment comprises six multi-family apartment buildings or complexes containing a total of 792 apartment units. The residential properties cater to individuals and families seeking rental housing. The company also holds a 65% tenancy-in-common undivided interest in the Pierre Towers property, a 266-unit residential apartment complex in Hackensack, New Jersey.

First Real Estate Investment Trust Of New Jersey, Inc. operates in a competitive industry, facing competition from other REITs, banks, insurance companies, pension funds, and individual developers and owners of real estate. The company's competitive advantages include its long-term investment strategy, diversified portfolio, and experienced management team. The company's properties are managed by Hekemian & Co., which provides services related to the operation of the properties. The company's portfolio includes a mix of residential and commercial properties, which allows it to diversify its revenue streams and mitigate risks associated with any single market or property type.

The company's customer base includes individual tenants for its residential properties and businesses for its commercial properties. Specific tenants mentioned in the filing include Stop & Shop Supermarket Co., TJ Maxx, T-Bowl, Inc., and CVS. These tenants occupy significant leasable space within the company's commercial properties and contribute to its rental income. The company's residential properties cater to a broad range of tenants seeking rental housing in New Jersey and New York.