Company: SQFTP
Filing Date: 2025-05-14
Form Type: 10-Q
Source: 0001437749-25-016828
Chunk: 47

Company: Presidio Property Trust, Inc.
Filing Date: 2025-05-14
Form: 10-Q
Item: Part I, Item 8
Chunk 47
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 31, 2025: 
    
     • The Company acquired 12 model homes for approximately $4.3 million. The purchase price was paid through cash payments of approximately $3.0 million and mortgage notes of approximately $1.3 million.

   Acquisitions during the three months ended  March 31, 2024: 
    
     •  The Company acquired five model homes for approximately $2.2 million. The purchase price was paid through cash payments of approximately $0.6 million and mortgage notes of approximately $1.6 million. 

   Dispositions during the three months ended  March 31, 2025:
    
    •On  February 7, 2025, the Company sold two commercial properties, Union Town Center and Research Parkway, to a single buyer for approximately $17.0 million and recognized a net gain of approximately $4.2 million, net of closing costs. 
   
  • The Company sold 6 model homes for approximately $2.8 million, net of sales costs, and recognized a gain of approximately $0.2 million.

   Dispositions during the three months ended  March 31, 2024: 
    
     •  The Company sold 27 model homes for approximately $12.6 million, net of sales costs, and recognized a gain of approximately $2.0 million. 

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   4. REAL ESTATE ASSETS
    
   The Company owns a diverse portfolio of real estate assets. The primary types of properties the Company invests in are office, industrial, retail, and triple-net leased model home properties.  We have three commercial properties located in Colorado, four in North Dakota, one in Southern California, one in Texas and one in Maryland. Our model home properties are located in four states. As of  March 31, 2025, the Company owned or had an equity interest in:
    
     •  Eight office buildings and one industrial property (“Office/Industrial Properties”) which total approximately 758,175 rentable square feet (unaudited); 
   
 •One retail building (“Retail Property”) which total approximately 10,500 rentable square feet (unaudited); and
   
 • 84 model home residential properties (“Model Homes” or “Model Home