FREV Files 8-K Report
Ticker: FREVS · Form: 8-K · Filed: May 2, 2024 · CIK: 36840
Sentiment: neutral
Topics: 8-K, disclosure
Related Tickers: FREV
TL;DR
FREV filed a standard 8-K, no major news.
AI Summary
On May 1, 2024, FIRST REAL ESTATE INVESTMENT TRUST OF NEW JERSEY (FREV) filed an 8-K report. The filing primarily serves as a notification of the company's current status and does not disclose specific material events or financial transactions. The report confirms the company's principal executive offices are located at 505 Main Street, Suite 400, Hackensack, New Jersey.
Why It Matters
This 8-K filing by FIRST REAL ESTATE INVESTMENT TRUST OF NEW JERSEY is a routine disclosure, indicating no significant new material events have occurred that require immediate reporting.
Risk Assessment
Risk Level: low — The filing is a routine 8-K report and does not contain information about significant financial events, acquisitions, or changes in leadership.
Key Players & Entities
- FIRST REAL ESTATE INVESTMENT TRUST OF NEW JERSEY (company) — Registrant
- May 1, 2024 (date) — Date of earliest event reported
- 505 Main Street, Suite 400, Hackensack, New Jersey 07601 (location) — Principal executive offices
FAQ
What is the purpose of this 8-K filing?
This 8-K filing is a current report filed by FIRST REAL ESTATE INVESTMENT TRUST OF NEW JERSEY to report information not previously disclosed in other filings.
When was the earliest event reported in this filing?
The earliest event reported in this filing occurred on May 1, 2024.
Where are FIRST REAL ESTATE INVESTMENT TRUST OF NEW JERSEY's principal executive offices located?
The principal executive offices of FIRST REAL ESTATE INVESTMENT TRUST OF NEW JERSEY are located at 505 Main Street, Suite 400, Hackensack, New Jersey 07601.
What is the company's telephone number?
The company's telephone number, including the area code, is (201) 488-6400.
What is the registrant's state of incorporation?
The registrant, FIRST REAL ESTATE INVESTMENT TRUST OF NEW JERSEY, is incorporated in Maryland.
Filing Stats: 1,171 words · 5 min read · ~4 pages · Grade level 15.8 · Accepted 2024-05-02 14:00:19
Key Financial Figures
- $0.01 — ch registered Common stock, par value $0.01 per share FREVS OTC Pink Market Pre
- $3,420,422.88 — ing FREIT and certain of its affiliates $3,420,422.88 in attorneys' fees and denying Sinatra'
- $15 million — to FREIT and certain of its affiliates $15 million in liquidated damages. In addition, the
Filing Documents
- form8k-32236_frevs.htm (8-K) — 31KB
- 0001174947-24-000658.txt ( ) — 240KB
- frevs-20240501_def.xml (EX-101.DEF) — 26KB
- frevs-20240501_lab.xml (EX-101.LAB) — 36KB
- frevs-20240501_pre.xml (EX-101.PRE) — 25KB
- frevs-20240501.xsd (EX-101.SCH) — 3KB
- form8k-32236_frevs_htm.xml (XML) — 5KB
01 Other Events
Item 8.01 Other Events . First Real Estate Investment Trust of New Jersey, Inc. ("FREIT") previously reported in connection with litigation between FREIT and certain of its affiliates and Sinatra Properties, LLC ("Sinatra") that on December 8, 2022 it had filed a Notice of Appeal with the Appellate Division of the New Jersey Superior Court (the "Appellate Division") appealing that portion of the trial court's February 4, 2022 ruling which declined to enforce the liquidated damages provision in the Purchase and Sale Agreement between FREIT and certain of its affiliates and Sinatra (the "Purchase Agreement"). On December 22, 2022, Sinatra filed a Notice of Cross Appeal appealing from all determinations by the trial court adverse to Sinatra, including (i) that portion of the trial court's order holding that Sinatra breached the Purchase Agreement; (ii) the denial of Sinatra's motion for reconsideration of the trial court's order; and (iii) the trial court's order awarding FREIT and certain of its affiliates $3,420,422.88 in attorneys' fees and denying Sinatra's request for attorneys' fees. On May 1, 2024, the Appellate Division issued its opinion affirming the trial court's order that (1) held that Sinatra breached the Purchase Agreement; and (2) dismissed all of Sinatra's other claims and lis pendens on the properties, and reversed that portion of the trial court's ruling that held the liquidated damages provision of the Purchase Agreement unenforceable. The case was remanded by the Appellate Division to the trial court with direction that the trial court enter an order enforcing the liquidated damages provision and directing Sinatra or the escrow agent to pay to FREIT and certain of its affiliates $15 million in liquidated damages. In addition, the Appellate Division affirmed the trial court's order denying Sinatra's motion for reconsideration and the order of the trial court granting the motion made by FREIT and certain of its affiliates for attorney's fees and co
SIGNATURES
SIGNATURES Pursuant to the requirements of the Securities Exchange Act of 1934, as amended, the registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized. FIRST REAL ESTATE INVESTMENT TRUST OF NEW JERSEY, INC. (Registrant) By: /s/ Robert S. Hekemian, Jr. Robert S. Hekemian, Jr. President and Chief Executive Officer Date: May 2, 2024