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

Company: Presidio Property Trust, Inc.
Filing Date: 2025-08-14
Form: 10-Q
Item: Part I, Item 2
Chunk 25
---
.5 million, net of selling costs, while cash used in real estate acquisition and capital improvement totaled approximately $10.2 million, for the six months ended June 30, 2025.

       43

We currently project that we could spend up to $1.6 million (some of which is held in deposits reserve accounts by our lenders) on capital improvements, tenant improvements and leasing costs for properties within our portfolio during the next 12 months. Capital expenditures may fluctuate in any given period subject to the nature, extent, and timing of improvements required to the properties. We may spend more on capital expenditures in the future due to rising construction costs. Tenant improvements and leasing costs may also fluctuate in any given year depending upon factors such as the property, the term of the lease, the type of lease, the involvement of external leasing agents and overall market conditions.

Financing Activities: Net cash used in financing activities during the six months ended June 30, 2025, was $11.1 million compared to $9.6 million provided by financing activities for the same period in 2024 and was primarily due to the following activities for the six months ended June 30, 2025:

     •
     Proceeds from mortgage notes payable, net of issuance costs totaled approximately $6.6 million, and payment of debt issuance costs totaled approximately $0.2 million.

     •
     Proceeds used for the repurchase of Series A Common Stock, totaled approximately $1.5 million, including stock repurchased in the Offer.

     •
     Proceeds used for the repurchase of Series D Preferred Stock, totaled approximately $0.3 million.

     •
     Repayment of mortgage notes payable totaled approximately $14.0 million for the six months ended June 30, 2025.

     •
     Distributions to noncontrolling interest of approximately $0.4 million for the six months ended June 30, 2025.

     •
     Dividends paid to Series D Preferred Stockholders of approximately $1.2 million for the six months ended June 30, 2025.

Off-Balance Sheet Arrangements

On July 12, 2021, the Company entered into a securities purchase agreement with a single U.S. institutional investor for the purchase and sale of 100,000 shares of its Series A Common Stock, Common Stock Warrants to purchase up to 200