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
 3 Months Ended 9 Months Ended
Sep. 30, 2023
Sep. 30, 2022
Sep. 30, 2023
Sep. 30, 2022
Cash flows from operating activities:        
Net income $ 19,693 $ 20,669 $ 53,679 $ 57,690
Adjustments to reconcile net income to net cash provided by operating activities:        
Depreciation and amortization 4,805 5,149 14,452 15,820
Amortization of above/below market leases, net 546 476 1,667 1,140
Gain on sales of investment properties, net (2,687) (4,402) (3,515) (8,053)
Changes in assets and liabilities:        
Changes in accounts receivable     1,923 2,087
Changes in other assets     (193) (2,821)
Changes in right-of-use lease assets     1,375 1,563
Changes in accounts payable and accrued expenses     7 451
Changes in lease liabilities     76 90
Changes in other liabilities     (103) (513)
Net cash provided by operating activities     69,368 67,454
Cash flows from investing activities:        
Proceeds from sales of investment properties     18,224 105,703
Net cash provided by investing activities     18,224 105,703
Cash flows from financing activities:        
Distributions paid to Certificateholders     (102,577) (717,337)
Net cash used in financing activities     (102,577) (717,337)
Net change in cash and cash equivalents     (14,985) (544,180)
Cash and cash equivalents, at beginning of period     48,922 627,522
Cash and cash equivalents, at end of period $ 33,937 $ 83,342 $ 33,937 $ 83,342