STSFF: the cash flow

Cash Flow Overview

Unit: Thousand (K) dollars

Positive Cash Flow Breakdown

Negative Cash Flow Breakdown

Cash Flow

2025-12-31

Net income (loss)

-1,737

Depreciation and amortization

73,200

Change in deferred tax assets and liabilities

-1,046

Accretion of fair market value adjustment of secured debt

-717

Amortization of debt issuance costs

3,904

Equity based compensation expense

16,623

Non-cash adjustment - equity method investments in unconsolidated real estate ventures

407

Non-cash adjustment - equity method investments in managed reits

995

Accretion of financing fee revenues

399

Contingent earnout adjustment

221

Unrealized foreign currency and derivative (gains) losses

2,319

Loss on debt extinguishment

-2,533

Issuance of noncontrolling interest in sst vi advisor

Sponsor funding reduction

1,052

Gain on disposition of real estate

284

Other assets, net

-141

Managed reits receivables and other

-5,135

Due to affiliates

-359

Accounts payable and accrued liabilities

-5,637

Net cash provided by operating activities

84,969

Third party platform acquisition, net of cash acquired

8,057

Purchase of real estate

304,141

Net proceeds from the disposition of real estate

7,872

Additions to real estate and construction in process

13,598

Insurance proceeds on insured property damage

4,188

Deposits on acquisitions

543

Settlement of foreign currency hedges designated for hedge accounting

-1,065

Capital distributions from managed reits

616

Investments in unconsolidated real estate ventures

7,356

Capital distributions from unconsolidated real estate ventures

11,021

Funding of loans-SSGTIIIAnd SSGTIIISponsored DSTs

-84,818

Repayment of loans-SSGTIIIAnd SSGTIIISponsored DSTs

-55,919

Funding of loans-Sst Vi

-2,000

Repayment of loans-Sst Vi

Preferred investment-Sst Vi

34,650

Preferred investment redemption-Sst Vi

Preferred investment-SSTXAdvisory Agreement

1,782

Purchase of sst vi subordinated class c units

658

Purchase of other assets

Purchase of other investments

4,760

Redemption of other investments

1,000

Net cash (used in) provided by investing activities

-380,755

Gross proceeds- underwritten public offering

931,500

Offering costs

57,281

Gross proceeds - issuance of canadian notes

511,462

Gross proceeds - issuance of non-credit facility debt

74,800

Repayment - non-credit facility debt

278,880

Scheduled principal payments on non-credit facility debt

2,900

Proceeds from issuance of credit facility debt

320,000

Repayment of credit facility debt

875,005

Debt issuance costs

3,033

Debt defeasance costs

754

Payment of payroll withholding tax on stock vesting

3,042

Redemptions of noncontrolling interests in our op

230

Redemption of series a convertible preferred stock

200,000

Redemption of fractional common shares

290

Redemption of common stock

Repurchase of noncontrolling interest in sst vi advisor

1,850

Distributions paid - preferred stockholders

6,967

Distributions paid - common stockholders

74,832

Distributions paid - noncontrolling interests in our op

7,106

Distributions paid - other noncontrolling interests

365

Net cash provided by (used in) financing activities

325,227

Impact of foreign exchange rate changes on cash and restricted cash

626

Change in cash, cash equivalents, and restricted cash

30,067

Cash, cash equivalents, and restricted cash beginning of year

29,301

Cash, cash equivalents, and restricted cash end of year

59,368

Time Plot

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