Company: SQFTP
Filing Date: 2025-05-14
Form Type: 10-Q
Source: 0001437749-25-016828
Chunk: 123

Company: Presidio Property Trust, Inc.
Filing Date: 2025-05-14
Form: 10-Q
Item: Part I, Item 1
Chunk 123
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582,548   16,660,803  Fixed   4.92%  1/5/2026  
 West Fargo Industrial (4)   5,750,000   5,750,000  Fixed   7.14%  7/6/2029  
 Grand Pacific Center (5)   6,442,167   6,460,405  Fixed   6.35%  5/10/2033  
 Baltimore   5,670,000   5,670,000  Fixed   4.67%  4/6/2032  
 Mandolin   3,491,495   3,508,702  Fixed   4.35% 4/20/2029 
 Subtotal, Presidio Property Trust, Inc. Properties  $67,364,842  $76,781,271          
 Model Home mortgage notes (7)   27,076,548   26,060,798  Fixed   6.00% - 8.00%  2025 - 2030 
 Mortgage Notes Payable  $94,441,390  $102,842,069          
 Unamortized loan costs   (698,843)  (747,975)         
 Mortgage Notes Payable, net  $93,742,547  $102,094,094          

    (1)  Interest rates as of  March 31, 2025. 
 (2)  The non-recourse loan on the Dakota Center property matured on  July 6, 2024.  Management has been in negotiations with the special servicer of the loan in modifying and/or extending the loan or possibly selling the building. We have not been able to come to an agreement regarding a situation in which the loan is modified or extended.  During  December 2024, the lender agreed to the broker the Company would use to sell the property to settle the non-recourse debt.  As of  March 31, 2025, the note payable is included in the mortgage notes payable related to properties held for sale, net on the consolidated balance sheet. The loan is considered non-recourse and we will not be required to make up the difference if the property sells for less than the loan balance