Company: SQFTP
Filing Date: 2025-03-31
Form Type: 10-K
Source: 0001437749-25-010185
Chunk: 87

Company: Presidio Property Trust, Inc.
Filing Date: 2025-03-31
Form: 10-K
Item: Item 1C
Chunk 87
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,261,390   (1,244,335)  17,055 
 Above-market leases   —   —   —   333,485   (333,485)  — 
  $3,776,654  $(3,756,877) $19,777  $4,110,139  $(4,072,836) $37,303 

   At  December 31, 2024 and 2023, there were no net lease intangible assets and accumulated amortization related to the lease intangible assets included in real estate assets held for sale.
    
   The net value of acquired intangible liabilities was approximately $8,625 and $13,266 relating to below-market leases at  December 31, 2024 and  December 31, 2023, respectively.  Amortization of below-market rent totaled approximately $4,641 and $4,974 for the years ended  December 31, 2024 and 2023.
    
   Future aggregate approximate amortization expense for the Company's lease intangible assets is as follows:

     2025   15,670 
 2026   4,107 
 Thereafter   — 
 Total  $19,777 

   6. OTHER ASSETS
    
   Other assets consist of the following:

       December 31,    December 31,  
   2024    2023  
 Deferred rent receivable  $2,126,609  $1,973,887 
 Accounts receivable, net   463,194   694,869 
 Prepaid expenses, deposits and other   406,494   349,160 
 Notes receivable   316,374   316,374 
 Right-of-use assets, net   64,026   15,649 
 Deferred offering costs   —   5,000 
 Investment in marketable securities (not including Conduit)   —   45,149 
 Total other assets  $3,376,697  $3,400,088 

        F-
       22

   Periodically, the Company  may sell an option in the marketable securities it holds to unrelated third parties for the right to purchase certain securities held within its investment portfolios (“covered call options