Quarterly report pursuant to Section 13 or 15(d)

Consolidated Statements of Cash Flows

v3.24.3
Consolidated Statements of Cash Flows - USD ($)
$ in Thousands
3 Months Ended 9 Months Ended
Sep. 30, 2024
Sep. 30, 2023
Sep. 30, 2024
Sep. 30, 2023
Cash flows from operating activities:        
Net income $ 16,443 $ 19,693 $ 52,094 $ 53,679
Adjustments to reconcile net income to net cash provided by operating activities:        
Depreciation and amortization 4,572 4,805 14,011 14,452
Provision for impairment of investment properties 2,081 0 2,081 0
Straight-line rental income, net     1,719 1,763
Amortization of above/below market leases, net 617 546 1,760 1,667
Gain on sales of investment properties, net (1,866) (2,687) (4,316) (3,515)
Changes in assets and liabilities:        
Changes in accounts receivable     0 160
Changes in other assets     (546) (193)
Changes in right-of-use lease assets     1,370 1,375
Changes in accounts payable and accrued expenses     685 7
Changes in lease liabilities     28 76
Changes in other liabilities     (260) (103)
Net cash provided by operating activities     68,626 69,368
Cash flows from investing activities:        
Proceeds from sales of investment properties     41,316 18,224
Net cash provided by investing activities     41,316 18,224
Cash flows from financing activities:        
Distributions paid to Certificateholders     (101,853) (102,577)
Net cash used in financing activities     (101,853) (102,577)
Net change in cash and cash equivalents     8,089 (14,985)
Cash and cash equivalents, at beginning of period     38,026 48,922
Cash and cash equivalents, at end of period $ 46,115 $ 33,937 $ 46,115 $ 33,937