Company: SQFTP
Filing Date: 2025-08-14
Form Type: 10-Q
Source: 0001437749-25-026786
Chunk: 35

Company: Presidio Property Trust, Inc.
Filing Date: 2025-08-14
Form: 10-Q
Item: Part II, Item 1
Chunk 35
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 profile, capital structure, assets and liabilities. 

Stock repurchases for Series D Preferred Stock.

      Month 
      
      Total Number of Shares Purchased 

      Average Price Paid Per Share 

      Total Number of Shares Purchased as Part of Publicly Announced Plans or Programs 

      Approximate Dollar Value of Shares that May Yet Be Purchased Under the Plans or Programs 

      April 2025 

     —

     $
     —

     —

     $
     3,764,119

      May 2025 

     4,620

     14.16

     4,620

     3,698,678

      June 2025 

     4,795

     14.05

     4,795

     3,631,303

      Total 

     9,415

     $
     14.06

     9,415

     $
     3,631,303

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      Table of Contents

Item 3. Defaults Upon Senior Securities.

On March 13, 2025, we received notice of a maturity date default of a loan in the original principal amount of $11.1 million evidenced by a promissory note issued on June 9, 2014. The loan is secured by the Dakota Center in Fargo, North Dakota.

As a result of the default, the Company is required to pay the default interest rate that is 5% above the original interest rate and the lender’s expenses related to the loan, including third party report fees, attorneys’ fees and loan servicing expenses.  As of the date of this report, the amount of the default is approximately $9.1 million and the total arrearage is approximately $0.4 million. Additionally, the lender is holding approximately $1.6 million in restricted cash sweep accounts as of June 30, 2025.

Item 4. Mine Safety Disclosures

None. 

   Item 5. Other Information.
    
   During the three months ended  March 31, 2025, no director or officer of the Company adopted or terminated a “Rule 10b5-1 trading arrangement” or “non-Rule 10b5-1 trading arrangement,” as each term is defined in Item 408(a) of Regulation S-K.

       48

Item 6. Exhibits.

      Exhibit Number 
      
      Description