Company: SQFTP
Filing Date: 2025-05-14
Form Type: 10-Q
Source: 0001437749-25-016828
Chunk: 55

Company: Presidio Property Trust, Inc.
Filing Date: 2025-05-14
Form: 10-Q
Item: Part I, Item 8
Chunk 55
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 its Lender has a covenant for a Fixed Charge Coverage Ratio (“FCCR”) as defined for NRMH as of any date that equals (a) the sum of (i) EBITDA for the period ended as of such date minus (ii) distributions for the period ended as of such date divided by (b) the sum of (i) principal payments paid for the period ended as of such date plus (ii) interest expense for period ended as of such date.  The FCCR is to be no less than 1.10 to 1.00, tested at the end of each fiscal quarter.  As of  March 31, 2025, NRMH was in compliance with this covenant.  The Company and standalone subsidiaries have other various quarterly and annual reporting requirements to the individual property lenders and the Company is in compliance with all material conditions and covenants on those mortgage notes payable as of  March 31, 2025, with the exception for Dakota Center's loan maturity. 
    
   Scheduled principal payments of mortgage notes payable were as follows as of  March 31, 2025:

       Commercial    Model      
   Properties    Homes    Total Principal  
 Years ending December 31:  Notes Payable  Notes Payable  Payments 
 2025  $21,084,788  $6,743,236  $27,828,024 
 2026   16,647,665   1,721,269   18,368,934 
 2027   302,885   554,816   857,701 
 2028   322,652   9,311,832   9,634,484 
 2029   17,291,157   6,105,084   23,396,241 
 Thereafter   11,715,695   2,640,311   14,356,006 
 Total  $67,364,842  $27,076,548  $94,441,390 

   8. NOTES PAYABLE
    
   On  April 22, 2020, the Company received an Economic Injury Disaster Loan of $10,000 from the Small Business Administration ("SBA") to provide economic relief during the COVID-19 pandemic. This loan advance is not required to be