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
Mar. 31, 2024
Mar. 31, 2023
Cash flows from operating activities:    
Net income $ 17,767 $ 17,157
Adjustments to reconcile net income to net cash provided by operating activities:    
Depreciation and amortization 4,757 4,830
Straight-line rental income, net 580 590
Amortization of above/below market leases, net 561 551
Gain on sales of investment properties, net (1,348) (828)
Changes in assets and liabilities:    
Changes in accounts receivable 0 192
Changes in other assets (1,137) (569)
Changes in right-of-use lease assets 457 459
Changes in accounts payable and accrued expenses 493 361
Changes in lease liabilities 4 24
Changes in other liabilities (91) (49)
Net cash provided by operating activities 22,043 22,718
Cash flows from investing activities:    
Proceeds from sales of investment properties 16,096 7,196
Net cash provided by investing activities 16,096 7,196
Cash flows from financing activities:    
Distributions paid to Certificateholders (26,378) (37,272)
Net cash used in financing activities (26,378) (37,272)
Net change in cash and cash equivalents 11,761 (7,358)
Cash and cash equivalents, at beginning of period 38,026 48,922
Cash and cash equivalents, at end of period $ 49,787 $ 41,564