Presidio Property Trust Provides Update on Real Estate Activity in January and February 2025
Sales Performance: Presidio Property Trust has sold two model homes for approximately $1.04 million and two commercial properties for about $16.95 million in early 2024, indicating a positive trend in real estate activity as they anticipate recovery in 2025.
Future Outlook: The company remains optimistic about office occupancy rates improving as remote work decreases, while also focusing on identifying new purchasing opportunities and monitoring lending rates closely.
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Presidio Property Trust Reveals Mortgage Refinance for Commercial Property
Refinancing Announcement: Presidio Property Trust refinanced the mortgage loan on its One Park Center property in Westminster, Colorado, securing a $6.1 million loan with a five-year term and a 6.83% interest rate, including interest-only payments for the first six months.
Company Overview: Presidio is a diversified, internally managed REIT with properties primarily in the sun belt states, including model homes leased to homebuilders, as well as office, industrial, and retail properties mainly located in Colorado and other states.
Presidio Property Trust Announces Pricing of a Registered Direct Offering of Common Stock
Securities Purchase Agreement: Presidio Property Trust has entered into a securities purchase agreement with an institutional investor to sell 170,830 shares of common stock at $12.00 per share, generating approximately $2.05 million in gross proceeds for working capital and corporate purposes.
Warrant Amendment: The company will amend existing warrants to reduce the exercise price to $12.00 per share, expiring five years from the amendment date, with a resale registration to be filed within 30 days.