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 6 Months Ended
Jun. 30, 2024
Jun. 30, 2023
Jun. 30, 2024
Jun. 30, 2023
Cash flows from operating activities:        
Net income $ 17,883 $ 16,831 $ 35,651 $ 33,987
Adjustments to reconcile net income to net cash provided by operating activities:        
Depreciation and amortization 4,683 4,817 9,440 9,647
Straight-line rental income, net     1,151 1,178
Amortization of above/below market leases, net 582 569 1,143 1,120
Gain on sales of investment properties, net (1,102) 0 (2,450) (828)
Changes in assets and liabilities:        
Changes in accounts receivable     0 160
Changes in other assets     (695) (386)
Changes in right-of-use lease assets     914 917
Changes in accounts payable and accrued expenses     329 145
Changes in lease liabilities     16 58
Changes in other liabilities     (184) 15
Net cash provided by operating activities     45,315 46,013
Cash flows from investing activities:        
Proceeds from sales of investment properties     29,209 7,196
Net cash provided by investing activities     29,209 7,196
Cash flows from financing activities:        
Distributions paid to Certificateholders     (65,518) (68,189)
Net cash used in financing activities     (65,518) (68,189)
Net change in cash and cash equivalents     9,006 (14,980)
Cash and cash equivalents, at beginning of period     38,026 48,922
Cash and cash equivalents, at end of period $ 47,032 $ 33,942 $ 47,032 $ 33,942