SQFTW - Presidio Property Trust Provides Update on Model Home Activity in Q2 2024 | Benzinga
SAN DIEGO, July 02, 2024 (GLOBE NEWSWIRE) -- (NASDAQ:SQFT, SQFTP, SQFTW)) Presidio Property Trust, Inc. ("Presidio" or the "Company"), an internally managed, diversified real estate investment trust ("REIT") announced that in second quarter of 2024, through subsidiary and affiliate entities, it acquired seven newly constructed single-family model home properties located in Texas. These seven homes were purchased for a total of approximately $3.5 million, with mortgage notes payable of approximately $2.4 million, and approximately $1.1 million in cash. They are then leased back to the homebuilders on a triple-net basis. Additionally, during the second quarter of 2024, through subsidiary and affiliate entities, we sold 15 homes for a total of approximately $8.1 million.
"Despite challenges with affordability and higher interest rates, we have had a brisk quarter of sales activity. I have been pleased with the overall sales performance. We continue to analyze acquisition opportunities and will ...