Annual report pursuant to Section 13 and 15(d)

Consolidated Statements of Cash Flows

v3.24.0.1
Consolidated Statements of Cash Flows - USD ($)
$ in Thousands
 11 Months Ended 12 Months Ended
Dec. 31, 2021
Dec. 31, 2021
Dec. 31, 2023
Dec. 31, 2022
Dec. 31, 2021
Cash flows from operating activities:          
Net income $ 196,716 $ 196,716 $ 69,161 $ 87,508  
Adjustments to reconcile net income to net cash provided by operating activities:          
Depreciation and amortization 35,182 35,182 19,245 20,692  
Provision for impairment of investment properties 1,951 1,951 0 0 $ 1,951
Straight-line rental income, net (58,037)   2,346 2,498  
Amortization of above/below market leases, net 405   2,207 1,691  
Gain on sales of investment properties, net (109,696) (109,696) (2,936) (21,726)  
Changes in assets and liabilities:          
Changes in accounts receivable (34)   160 26  
Changes in other assets (1,144)   219 (2,175)  
Changes in right-of-use lease assets 1,972   1,832 2,023  
Changes in accounts payable and accrued expenses 1,670   201 (483)  
Changes in lease liabilities 93   87 122  
Changes in other liabilities 9,351   (25) (724)  
Net cash provided by operating activities 78,429   92,497 89,452  
Cash flows from investing activities:          
Capital expenditures for investment properties 0   0 (89)  
Proceeds from sales of investment properties 793,647   22,609 156,252  
Net cash provided by investing activities 793,647   22,609 156,163  
Cash flows from financing activities:          
Acquisition-related costs incurred subsequent to Inception (8,651)   0 0  
Distributions paid to Certificateholders (261,466)   (126,002) (824,215)  
Net cash used in financing activities (270,117)   (126,002) (824,215)  
Net change in cash and cash equivalents 601,959   (10,896) (578,600)  
Cash and cash equivalents, at beginning of period 25,563   48,922 627,522  
Cash and cash equivalents, at end of period $ 627,522 $ 627,522 $ 38,026 $ 48,922 $ 627,522