Annual report [Section 13 and 15(d), not S-K Item 405]

Consolidated Statements of Cash Flows

v3.25.0.1
Consolidated Statements of Cash Flows - USD ($)
$ in Thousands
12 Months Ended
Dec. 31, 2024
Dec. 31, 2023
Dec. 31, 2022
Cash flows from operating activities:      
Net Income (Loss) $ 73,778 $ 69,161 $ 87,508
Adjustments to reconcile net income to net cash provided by operating activities:      
Depreciation and amortization 18,482 19,245 20,692
Provision for impairment of investment properties 2,081 0 0
Straight-line rental income, net 2,275 2,346 2,498
Amortization of above/below market leases, net 2,444 2,207 1,691
Gain on sales of investment properties, net (9,605) (2,936) (21,726)
Changes in assets and liabilities:      
Changes in accounts receivable (48) 160 26
Changes in other assets (146) 219 (2,175)
Changes in right-of-use lease assets 1,826 1,832 2,023
Changes in accounts payable and accrued expenses 1,318 201 (483)
Changes in lease liabilities 32 87 122
Changes in other liabilities (252) (25) (724)
Net cash provided by operating activities 92,185 92,497 89,452
Cash flows from investing activities:      
Capital expenditures for investment properties 0 0 (89)
Proceeds from sales of investment properties 75,387 22,609 156,252
Net cash provided by investing activities 75,387 22,609 156,163
Net Cash Provided by (Used in) Financing Activities [Abstract]      
Distributions paid to Certificateholders (153,712) (126,002) (824,215)
Net cash used in financing activities (153,712) (126,002) (824,215)
Net change in cash and cash equivalents 13,860 (10,896) (578,600)
Cash and cash equivalents, at beginning of year 38,026 48,922 627,522
Cash and cash equivalents, at end of year $ 51,886 $ 38,026 $ 48,922