Company: SQFTP
Filing Date: 2025-11-12
Form Type: 10-Q
Source: 0001437749-25-034461
Chunk: 75

Company: Presidio Property Trust, Inc.
Filing Date: 2025-11-12
Form: 10-Q
Item: Part I, Item 8
Chunk 75
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, the CODM also includes the gain or loss on sale of real estate assets net of any impairments, because we believe that is a major component in the operating success of the segment and part of the business model for Model Homes.  The gain on sale of model homes resulted in cash flows to the Company that the CODM can decide on how to allocate to future operations. 
    
   The following tables compare the Company’s segment activity and NOI and adjusted NOI for Model Home income to its results of operations and financial position as of and for the nine months ended  September 30, 2025 and 2024, respectively.  The line items listed in the below NOI tables include the significant expense considered by the CODM for cash allocations on future investments.  The Other Non-Segment & Consolidating Items represent corporate activity, the investment in Conduit, and other eliminating items for consolidation.  The information for Corporate and Other are presented to reconcile back to the consolidated statement of operations, but is not considered a reportable segment.  This includes the loss on Conduit marketable securities.

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   The following tables compare the Company's segment activity to its results of operations and financial position as of and for the three and nine months ended  September 30, 2025, and  September 30, 2024:

       For the Nine Months Ended September 30, 2025  
                     
   Retail    Office/Industrial    Model Homes    Corporate and Other    Total  
                     
 Rental revenue  $393,587  $7,292,655  $2,970,745  $—  $10,656,987 
 Recovery revenue   56,439   1,709,622   —   —   1,766,061 
 Other operating revenue   400   191,705   5,776   79,137   277,018 
 Total revenues   450,426   9,193,982   2,976,521   79,137   12,700,066 
                     
 Rental operating costs   110,219   4,795,036   146,840   (442,285)  4,609,810 
 Net Operating Income (NOI)   340,207   4,398,946   2,829,681