Quarterly report pursuant to Section 13 or 15(d)

VEREIT OFFICE ASSETS COMBINED AND CONSOLIDATED STATEMENTS OF CASH FLOWS

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VEREIT OFFICE ASSETS COMBINED AND CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($)
$ in Thousands
 3 Months Ended 9 Months Ended
Sep. 30, 2021
Sep. 30, 2021
Sep. 30, 2021
Sep. 30, 2020
Cash flows from operating activities:        
Net income   $ (2,797)    
Changes in assets and liabilities:        
Net cash provided by operating activities   (2,797)    
Cash flows from financing activities:        
Net cash used in financing activities   2,797    
Net change in cash and cash equivalents and restricted cash   0    
Cash and cash equivalents and restricted cash, end of period $ 1 1 $ 1  
Cash and cash equivalent at the end of the period 1 1 1  
VEREIT Office Assets        
Cash flows from operating activities:        
Net income 6,384   8,514 $ 42,245
Adjustments to reconcile net income to net cash provided by operating activities:        
Depreciation and amortization     44,167 46,993
Impairments 6,440   28,064 199
Gain on disposition of real estate assets, net     0 (9,781)
Loss on extinguishment of debt, net 5   85 1,686
Equity in income of unconsolidated joint venture (211)   (621) (381)
Distributions from unconsolidated joint venture     621 371
Changes in assets and liabilities:        
Rents and tenant receivables, operating lease right-of-use and other assets, net     1,214 196
Accounts payable and accrued expenses     (3,276) 651
Deferred rent, operating lease and other liabilities     550 (2,002)
Net cash provided by operating activities     79,318 80,177
Cash flows from investing activities:        
Capital expenditures and leasing costs     (4,531) (6,373)
Real estate developments     (240) (1,280)
Proceeds from disposition of real estate     0 116,376
Investments in unconsolidated joint venture     (2,180) (2,669)
Return of investment from unconsolidated joint venture     1,026 370
Proceeds from the settlement of property-related insurance claims     70 10
Net cash (used in) provided by by investing activities     (5,855) 106,434
Cash flows from financing activities:        
Proceeds from mortgage notes payable     0 1,032
Payments on mortgage notes payable     (74,600) (27,719)
Payments of deferred financing costs     0 (326)
Refunds of deferred financing costs     280 0
Net contributions (distributions) to parent     989 (159,223)
Net cash used in financing activities     (73,331) (186,236)
Net change in cash and cash equivalents and restricted cash     132 375
Cash and cash equivalents and restricted cash, beginning of period     3,414 2,891
Cash and cash equivalents and restricted cash, end of period 3,546 3,546 3,546 3,266
Cash and cash equivalent at the beginning of the period     400 190
Restricted cash at the beginning of the period     3,014 2,701
Cash and cash equivalent at the end of the period 176 176 176 610
Restricted cash at the end of the period $ 3,370 $ 3,370 3,370 2,656
Supplemental disclosures:        
Cash paid for interest     5,886 7,930
Non-cash investing and financing activities:        
Real estate contributions to unconsolidated joint venture     0 17,240
Accrued capital expenditures and real estate developments     $ 926 $ (1,719)