Company: SQFTP
Filing Date: 2025-03-31
Form Type: 10-K
Source: 0001437749-25-010185
Chunk: 1291

Company: Presidio Property Trust, Inc.
Filing Date: 2025-03-31
Form: 10-K
Item: Item 5
Chunk 1291
---
,954,183 
 Noncontrolling interest   8,410,009   10,367,887 
 Total equity   34,945,155   61,322,070 
 TOTAL LIABILITIES AND EQUITY  $142,569,650  $175,962,638 

(1) As of December 31, 2024 and 2023, includes approximately $11.4 million and $18.1 million, respectively, of assets related to consolidated variable interest entities that can be used only to settle obligations of the consolidated variable interest entities.

See Notes to Consolidated Financial Statements

      F-4

Presidio Property Trust, Inc. and Subsidiaries

Consolidated Statements of Operations

       For the Year Ended December 31, 

       2024 

       2023 

       Revenues: 

       Rental income 
       
      $
      18,523,813

      $
      17,392,397

       Fees and other income 

      401,462

      243,217

       Total revenue 

      18,925,275

      17,635,614

       Costs and expenses: 

       Rental operating costs 

      6,256,077

      5,962,918

       General and administrative 

      7,526,675

      6,790,432

       Depreciation and amortization 

      5,515,518

      5,425,739

       Impairment of goodwill and real estate assets 

      1,969,311

      3,247,097

       Total costs and expenses 

      21,267,581

      21,426,186

       Other income (expense): 

       Interest expense - mortgage notes 

      (6,050,196
      )

      (5,004,889
      )

       Interest and other income, net 

      (151,356
      )

      1,435,298

       Gain on sales of real estate, net 

      3,426,572

      3,240,200

       Net loss in Conduit Pharmaceuticals marketable securities (see footnote 9) 

      (17,925,723
      )

      (23,359,774
      )

       Gain on deconsolidation of SPAC (see footnote 9) 

      —

      40,321