Quarterly report [Sections 13 or 15(d)]

Consolidated Statements of Cash Flows

v3.25.1
Consolidated Statements of Cash Flows - USD ($)
$ in Thousands
3 Months Ended 9 Months Ended
Mar. 31, 2025
Mar. 31, 2024
Dec. 31, 2024
Cash flows from operating activities:      
Net income $ 16,050 $ 17,767  
Adjustments to reconcile net income to net cash provided by operating activities:      
Depreciation and amortization 4,429 4,757  
Straight-line rental income, net 552 580  
Amortization of above/below market leases, net 733 561  
Gain on sales of investment properties, net 0 (1,348)  
Changes in assets and liabilities:      
Changes in accounts receivable 48 0  
Changes in other assets (2,559) (1,137)  
Changes in right-of-use lease assets 450 457  
Changes in accounts payable and accrued expenses 179 493  
Changes in lease liabilities 12 4  
Changes in other liabilities 1 (91)  
Net cash provided by operating activities 19,895 22,043  
Cash flows from investing activities:      
Proceeds from sales of investment properties 0 16,096  
Net cash provided by investing activities 0 16,096  
Cash flows from financing activities:      
Distributions paid to Certificateholders (37,751) (26,378)  
Net cash used in financing activities (37,751) (26,378)  
Net change in cash and cash equivalents (17,856) 11,761  
Cash and cash equivalents, at beginning of period 51,886 38,026 $ 49,787
Cash and cash equivalents, at end of period $ 34,030 $ 49,787 $ 51,886