CNSREIT-AR-2024 Final - Flipbook - Page 110
The following table is a summary of our indebtedness as of December 31, 2024 and December 31, 2023 ($ in
thousands):
Balance as of December 31,
Interest Rate Fixed
Maturity Date
Marketplace at Highland Village
6.13%
October 1, 2034
Des Peres Corners
6.02%
August 1, 2034
Village on Pooler Parkway
6.14%
October 1, 2034
20,400
4
Bridgepointe Shopping Center
5.69%
January 1, 2035
70,000
4
Total loans secured by real estate
136,715
4
Deferred financing costs, net
(1,819)
4
134,896 $
4
Indebtedness
Mortgage notes, net
2024
$
$
2023
23,155 $
4
23,160
4
Cash Flows
The following table provides a breakdown of the net change in our cash and cash equivalents ($ in thousands):
Year Ended December 31, 2024
5,086
(269,751)
272,969
$
8,304
Cash flows provided by operating activities
Cash flows used in investing activities
Cash flows provided by financing activities
Net increase in cash and cash equivalents
$
Cash flows provided by operating activities were approximately $5.1 million for the year ended December 31, 2024,
primarily as a result of income generated from our investments in real estate and real estate-related securities.
Cash flows used in investing activities were $269.8 million for the year ended December 31, 2024, primarily due to
our acquisitions of real estate and purchases of real estate-related securities.
Cash flows provided by financing activities were $273.0 million for the year ended December 31, 2024, primarily due
to $134.7 million of proceeds from the issuance of common stock and $136.7 million of proceeds from property-level
financing, net of $2.1 million of deferred financing costs.
Critical Accounting Estimates
Our significant accounting policies are described in Note 2 to our consolidated financial statements. Many of these
accounting policies require judgment and the use of estimates and assumptions when applying these policies in the
preparation of our consolidated financial statements. On a quarterly basis, we evaluate these estimates and judgments based
on historical experience as well as other factors that we believe to be reasonable under the circumstances. These estimates
are subject to change in the future if underlying assumptions or factors change. Certain accounting policies, while
significant, may not require the use of estimates. Below is a summary of certain critical accounting estimates used in the
preparation of our consolidated financial statements.
Accounting for Acquisitions
The results of operations of acquired properties will be included in our results of operations from their respective dates
of acquisition. Estimates of future cash flows and other valuation techniques will be used to record the purchase of
identifiable assets acquired and liabilities assumed such as land, buildings and improvements, equipment and identifiable
intangible assets and liabilities such as amounts related to in-place leases, acquired above- and below-market leases, tenant
relationships and asset retirement obligations. Values of buildings and improvements will be determined on an as-if-vacant
basis.
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