Company: SQFTP
Filing Date: 2025-12-18
Form Type: 424B3
Source: 0001493152-25-028343
Chunk: 4

Company: Presidio Property Trust, Inc.
Filing Date: 2025-12-18
Form: 424B3
Chunk 4
---
                                                                                                                                  
 Plaza is owned by two tenants-in-common, NetREIT Genesis and NetREIT Genessis II, each of which own 57% and 43%, respectively, and       
 we beneficially own an aggregate of 92.0%, based on our ownership of each entity. We have 100% ownership of NetREIT Genesis and 81.5%    
 ownership of NetREIT Genesis II, and we have control of both entities. During July 2024, the Company completed a minority ownership      
 conversion option as result of a death in a noncontrolling trust within NetREIT Genesis II. The Company issued the trust 86,232 shares   
 of SQFT Series A Common Stock in exchange for their 36.4% ownership in NetREIT Genesis II, as per the original exchange agreement.       |
| (2) | The                                                                                                                                      
 non-recourse loan on the Dakota Center property matured on July 6, 2024. 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 September 30, 2025, the property was included in the       
 real estate assets held for sale, net on the consolidated balance sheet. During July 2025, the lender approved a purchase offer from     
 a third party for $5,125,000. In connection with the pending sale, we have impaired the property’s book value and recorded               
 an impairment charge of approximately $3.3 million for the nine months ended September 30, 2025. The sale is expected to take place      
 during the fourth quarter 2025 or in the first quarter of 2026.                                                                          |
| (3) | On                                                                                                                                       
 December 31, 2022, the lease for our largest tenant, Halliburton, expired. Halliburton was located in our Shea Center II property        
 in Colorado, and made up approximately $536,080 of our annual base rent. Halliburton did not renew the lease and we placed approximately 
 $1.1 million in a reserve account with our lender to cover future mortgage payments, if necessary, none of which has been used as        
 of September 30, 2025. Our management team is working to fill the 45,535 square foot space and has leased approximately 69% of the       
 space to other tenants and has reviewed various proposals for the remaining 31%. As of September 30, 2025, management