Quarterly report pursuant to Section 13 or 15(d)

Consolidated Statements of Cash Flows

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Consolidated Statements of Cash Flows - USD ($)
$ in Thousands
 2 Months Ended 3 Months Ended
Mar. 31, 2021
Mar. 31, 2022
Cash flows from operating activities:    
Net income $ 16,482 $ 20,428
Adjustments to reconcile net income to net cash provided by operating activities:    
Depreciation and amortization 6,764 5,336
Gain on sales of investment properties, net 0 (3,651)
Amortization of above/below market leases, net 1 332
Changes in assets and liabilities:    
Changes in accounts receivable (10,774) 688
Changes in other assets (4,371) (3,726)
Changes in right-of-use lease assets 436 522
Changes in accounts payable and accrued expenses 1,094 (525)
Changes in lease liabilities 17 29
Changes in other liabilities 7,999 (65)
Net cash provided by operating activities 17,648 19,368
Cash flows from investing activities:    
Proceeds from sales of investment properties 0 20,961
Net cash provided by investing activities 0 20,961
Cash flows from financing activities:    
Acquisition-related costs incurred subsequent to Inception (8,651) 0
Distributions paid to Certificateholders (1,566) (633,508)
Net cash used in financing activities (10,217) (633,508)
Net increase (decrease) in cash and cash equivalents 7,431 (593,179)
Cash and cash equivalents, at beginning of period 25,563 627,522
Cash and cash equivalents, at end of period $ 32,994 $ 34,343