First Real Estate Investment Trust Of New Jersey FREVS

First Real Estate Investment Trust of New Jersey is a real estate investment trust that acquires develops and holds income producing properties for long term investment. It operates primarily in New Jersey and New York and also holds undeveloped land in New Jersey.

The company generates revenue chiefly from rents collected on its commercial and residential real estate holdings. Additional income may arise from occasional property sales but the core cash flow comes from lease payments.

The company operates through the following segments: commercial properties and residential properties.

• Commercial properties consist of shopping centers and other retail spaces that generate lease income from tenants such as supermarkets pharmacies and fitness centers.
• Residential properties comprise multi family apartment complexes and individual units that provide rental income from tenants living in the properties.

FREIT competes with other REITs banks insurance companies pension funds and private developers for acquisition of real estate assets. Many of these competitors have greater financial resources which limits FREIT’s ability to pursue large scale acquisitions. The company’s focus on the New Jersey and New York markets and its long term hold strategy provide a niche advantage.

The company’s customers are primarily retail businesses that lease space in its shopping centers and individuals who rent apartments in its residential complexes. Specific tenant names include supermarkets pharmacies and fitness centers while residential occupants are private households.