Company: SQFTP
Filing Date: 2025-03-31
Form Type: 10-K
Source: 0001437749-25-010185
Chunk: 29

Company: Presidio Property Trust, Inc.
Filing Date: 2025-03-31
Form: 10-K
Item: Item 1C
Chunk 29
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 Annual Rent 

      Arizona 

     2

     6,822

     2.9
     %
      
     $
     149,196

     4.4
     %

      Florida 

     3

     8,199

     3.4
     %

     136,812

     4.1
     %

      Texas 

     73

     221,934

     93.7
     %

     3,086,580

     91.5
     %

      Total 

     78

     236,955

     100.0
     %
      
     $
     3,372,588

     100.0
     %

LIQUIDITY AND CAPITAL RESOURCES

Overview

Our anticipated future sources of liquidity may include existing cash and cash equivalents, cash flows from operations, refinancing of existing mortgages, future real estate sales, new borrowings from our model home lines of credit, and the sale of our equity or issuance of debt securities or bonds.   Our cash and restricted cash at December 31, 2024 was approximately  $8.0 million. Our future capital needs include paying down existing borrowings, maintaining our existing properties, funding tenant improvements, paying lease commissions (to the extent they are not covered by lender-held reserve deposits), and the payment of dividends to our stockholders. We also are actively seeking model home investments that are likely to produce income and achieve long-term gains in order to pay dividends to our stockholders. To ensure that we can effectively execute these objectives, we routinely review our liquidity requirements and continually evaluate all potential sources of liquidity.

Our short-term liquidity needs include paying our current operating costs, satisfying the debt service requirements of our existing mortgages, completing tenant improvements, paying leasing commissions, and funding dividends to stockholders.  Future principal payments due on our mortgage notes payables during 2025, total approximately $38.8 million, of which  $8.3 million is related to model home properties.  During the next 12 months our four commercial property loans, Dakota Center, Research Parkway, Union Town Center, Genesis Plaza and Shea Center II, have mortgage loans with maturity dates, totaling approximately $30.1 million.  The Dakota Center loan matured in July 2024, and will be settled when the property is sold, which is expected to sell in the next 12 months.