Quarterly report [Sections 13 or 15(d)]

Consolidated Statements of Cash Flows

v3.25.3
Consolidated Statements of Cash Flows - USD ($)
$ in Thousands
3 Months Ended 9 Months Ended
Sep. 30, 2025
Sep. 30, 2024
Sep. 30, 2025
Sep. 30, 2024
Cash flows from operating activities:        
Net income $ 1,290 $ 16,443 $ 39,557 $ 52,094
Adjustments to reconcile net income to net cash provided by operating activities:        
Depreciation and amortization 4,347 4,572 13,142 14,011
Provision for impairment of investment properties 10,671 2,081 10,671 2,081
Straight-line rental income, net     1,640 1,719
Amortization of above/below market leases, net 714 617 2,177 1,760
(Loss) gain on sales of investment properties, net 1,851 (1,866) (4,273) (4,316)
Changes in assets and liabilities:        
Changes in accounts receivable     48 0
Changes in other assets     (3,945) (546)
Changes in right-of-use lease assets     1,267 1,370
Changes in accounts payable and accrued expenses     1,223 685
Changes in lease liabilities     38 28
Changes in other liabilities     (286) (260)
Net cash provided by operating activities     61,259 68,626
Cash flows from investing activities:        
Proceeds from sales of investment properties and deposits received     34,265 41,316
Net cash provided by investing activities     34,265 41,316
Cash flows from financing activities:        
Distributions paid to Certificateholders     (98,504) (101,853)
Net cash used in financing activities     (98,504) (101,853)
Net change in cash and cash equivalents     (2,980) 8,089
Cash and cash equivalents, at beginning of period     51,886 38,026
Cash and cash equivalents, at end of period $ 48,906 $ 46,115 $ 48,906 $ 46,115