Annual report pursuant to Section 13 and 15(d)

Consolidated Statement of Cash Flows

v3.22.4
Consolidated Statement of Cash Flows - USD ($)
$ in Thousands
 11 Months Ended 12 Months Ended
Dec. 31, 2021
Dec. 31, 2021
Dec. 31, 2022
Cash flows from operating activities:      
Net income $ 196,716 $ 196,716 $ 87,508
Adjustments to reconcile net income to net cash provided by operating activities:      
Depreciation and amortization 35,182   20,692
Provision for impairment of investment properties 1,951   0
Gain on sales of investment properties, net (109,696) (109,696) (21,726)
Amortization of above/below market leases, net 405   1,691
Changes in assets and liabilities:      
Changes in accounts receivable (58,071)   2,524
Changes in other assets (1,144)   (2,175)
Changes in right-of-use lease assets 1,972   2,023
Changes in accounts payable and accrued expenses 1,670   (483)
Changes in lease liabilities 93   122
Changes in other liabilities 9,351   (724)
Net cash provided by operating activities 78,429   89,452
Cash flows from investing activities:      
Capital expenditures for investment properties 0   (89)
Proceeds from sales of investment properties 793,647 793,647 156,252
Net cash provided by investing activities 793,647   156,163
Cash flows from financing activities:      
Acquisition-related costs incurred subsequent to Inception (8,651)   0
Distributions paid to Certificateholders (261,466)   (824,215)
Net cash used in financing activities (270,117)   (824,215)
Net increase (decrease) in cash and cash equivalents 601,959   (578,600)
Cash and cash equivalents, at beginning of period   25,563 627,522
Cash and cash equivalents, at end of period $ 627,522 $ 627,522 $ 48,922