FirstRealEstateInvestmentTrustofNewJerseyInc_OTC_FREVS_2020.pdf

1、ANNUALREPORT2020First Real Estate Investment Trust of New JerseyFIRST REAL ESTATE INVESTMENT TRUST OF NEW JERSEY(FREIT)OWNS PREDOMINANTLY MULTI-FAMILY RENTAL COMMUNITIES,GROCERY ANCHORED SHOPPING CENTERS,AND MIXED-USE PROPERTIES.THE PROPERTIES ARE LOCATED IN THE NORTHEAST AND MID ATLANTIC REGIONS AN

2、D ARE IN UPSCALE MARKETS WITH HIGH BARRIERS TO ENTRY.SINCE FREITS INCEPTION IN 1961,THE PORTFOLIO HAS BEEN MANAGED BY HEKEMIAN&CO.,INC.WITH OVERSIGHT AND STRATEGIC DIRECTION FROM FREITS BOARD OF TRUSTEES.THIS TEAM FORMS THE MANAGEMENT AND OPERATIONAL CORE OF FREIT THUS ENABLING FREIT TO BENEFIT FROM

3、 MANY YEARS OF SUCCESS.Letter to Shareholders 1Financial Highlights 2Historical Data 3 Property Holdings 4 Form 10-K 5Officers and Trustees:insidebackcoverLetter to Shareholders 1Financial Highlights 2Historical Data 3Property Holdings 4Form 10-K 5Officers and Trustees:insidebackcoverCONTENTS1Dear S

4、hareholder,This past year First Real Estate Investment Trust of New Jersey(FREIT)has navigated many challenging obstacles.We continue to defend multiple fronts while facing a volatile marketplace and economic uncertainty.This period has proven unprecedented in FREITs history.The effects of the Coron

5、avirus Pandemic have been significant.Families have suffered immeasurably both in the United States and abroad.Likewise,businesses have suffered and FREIT is no exception to this.Management has always maintained safety as a priority.With the advent of Covid-19 we have stepped up health and safety pr

6、otocols in our offices and throughout our portfolio by instituting policies which encourage social distancing,masking and other measures in an effort to afford better protection to those employed at our corporate offices and for those living,visiting or working at our properties.As an example,we hav