Quarterly report [Sections 13 or 15(d)]

Consolidated Statements of Cash Flows

v3.25.2
Consolidated Statements of Cash Flows - USD ($)
$ in Thousands
3 Months Ended 6 Months Ended
Jun. 30, 2025
Jun. 30, 2024
Jun. 30, 2025
Jun. 30, 2024
Cash flows from operating activities:        
Net income $ 22,216 $ 17,883 $ 38,267 $ 35,651
Adjustments to reconcile net income to net cash provided by operating activities:        
Depreciation and amortization 4,365 4,683 8,794 9,440
Straight-line rental income, net     1,100 1,151
Amortization of above/below market leases, net 731 582 1,463 1,143
Gain on sales of investment properties, net (6,124) (1,102) (6,124) (2,450)
Changes in assets and liabilities:        
Changes in accounts receivable     48 0
Changes in other assets     (2,976) (695)
Changes in right-of-use lease assets     871 914
Changes in accounts payable and accrued expenses     198 329
Changes in lease liabilities     1 16
Changes in other liabilities     (122) (184)
Net cash provided by operating activities     41,520 45,315
Cash flows from investing activities:        
Proceeds from sales of investment properties     20,227 29,209
Net cash provided by investing activities     20,227 29,209
Cash flows from financing activities:        
Distributions paid to Certificateholders     (78,647) (65,518)
Net cash used in financing activities     (78,647) (65,518)
Net change in cash and cash equivalents     (16,900) 9,006
Cash and cash equivalents, at beginning of period     51,886 38,026
Cash and cash equivalents, at end of period $ 34,986 $ 47,032 $ 34,986 $ 47,032