Presidio Property Trust Sells Model Homes and Commercial Properties in Early 2025

Presidio Property Trust, Inc. (NASDAQ: SQFT) announced on February 24, 2025, an update on its recent real estate transactions, reflecting ongoing activity in the company’s diversified portfolio. According to the press release filed with the SEC, during January and February 2025 the company sold two model homes for a total of approximately $1.04 million, and two commercial properties for about $16.95 million.

The model homes, which were acquired in 2023 for an estimated $0.9 million, performed in line with the company’s expectations during the first quarter. The commercial properties, purchased between 2014 and 2015 for roughly $14.1 million, carried a combined book value of approximately $11.6 million prior to the sale.

Gary Katz, Chief Investment Officer of Presidio, stated, “We are cautiously optimistic that real estate activity will continue to recover in 2025 and look forward to positive opportunities in the near future. Office occupancy rates could be shifting in a positive trend as more and more companies are ending their remote work programs.”

Steve Hightower, President of the Model Homes Division, added that while seasonal adjustments and election cycles have typically resulted in a slowdown in model home sales, the performance to date is on par with expectations. “We also remain focused on identifying purchasing opportunities from new and current markets and will be watching lending rates closely as we analyze opportunities,” Hightower noted.

The update underscores Presidio’s ongoing efforts to manage and optimize its portfolio across model home, office, industrial, and retail properties. The company continues to monitor market trends and evaluate opportunities that may arise from shifting real estate dynamics.

This article was generated by an automated content engine and was reviewed by a human editor prior to publication. For additional information, read Presidio Property Trust’s 8K filing here.

About Presidio Property Trust

Presidio Property Trust, Inc (we, our, us or the Company) is an internally-managed real estate investment trust (REIT), with holdings in office, industrial, retail and model home properties. We were incorporated in the State of California on September 28, 1999, and in August 2010, we reincorporated as a Maryland corporation.