# Presidio Property Trust, Inc.

> Clarifo company profile — qualitative business description generated from
> the company's filings. Financial statements, charts and ratios are
> available on Clarifo (https://www.clarifo.com/fi/companies/Presidio Property Trust, Inc.).

## Overview

Presidio Property Trust, Inc. is a U.S.-based internally managed real estate investment trust that owns and manages a diversified portfolio of office, industrial, retail, and model home residential properties. Its assets are concentrated in the United States and are leased to commercial tenants, homebuilders, and other occupiers under a mix of traditional and triple-net lease structures.

## Products & services

• Office property ownership and leasing
• Industrial property ownership and leasing
• Retail property ownership and leasing
• Triple-net leased model home properties
• Property acquisition, management, and disposition

- **Office properties** (40%) — Office buildings leased to a mix of commercial tenants under multi-year leases.
- **Model home properties** (30%) — Residential model homes leased back to homebuilders on triple-net terms.
- **Industrial properties** (15%) — Industrial real estate assets leased to operating tenants.
- **Retail properties** (5%) — Single-tenant or small-format retail real estate leased to commercial occupants.
- **Property sales and other real estate income** (10%) — Gains from dispositions and other real estate-related income items.

- Office property ownership and leasing
- Industrial property ownership and leasing
- Retail property ownership and leasing
- Triple-net leased model home properties
- Property acquisition, management, and disposition

## Customers

The company’s tenants include commercial businesses, industrial users, retail occupants, and homebuilders that lease model homes back from the trust. Its office and retail tenants range from small businesses to larger public companies, while model home tenants are typically established homebuilders with credit histories. The business depends on tenant occupancy, lease renewals, and the credit quality of lessees across these property types.

- **Office and commercial tenants** (primary) — Businesses leasing office buildings for administrative or operating space under multi-year contracts.
- **Homebuilders** (primary) — Builders leasing model homes back from the company to support sales communities and showcase homes.
- **Industrial tenants** (secondary) — Operating companies leasing industrial property for storage, logistics, or light industrial use.
- **Retail tenants** (secondary) — Smaller commercial tenants leasing retail space for customer-facing operations.

- Commercial office tenants seeking multi-year leased space
- Industrial tenants needing functional real estate locations
- Retail tenants occupying smaller commercial buildings
- Homebuilders leasing model homes on triple-net terms
- Tenants that value stabilized, income-producing properties

## Geography

Presidio Property Trust’s real estate portfolio is concentrated in the United States, with commercial properties in Colorado, North Dakota, California, Texas, and Maryland. Its model home properties are spread across four states, with Texas representing the largest share of that portfolio, which creates both operating efficiency and exposure to local market conditions.

- **Colorado** (40.4%) — Commercial property base annual rent share from June 30, 2025 table
- **North Dakota** (34.4%) — Commercial property base annual rent share from June 30, 2025 table
- **California** (14.8%) — Commercial property base annual rent share from June 30, 2025 table
- **Maryland** (7.1%) — Commercial property base annual rent share from June 30, 2025 table
- **Texas** (3.3%) — Commercial property base annual rent share from June 30, 2025 table

- Commercial properties are located in Colorado, North Dakota, California, Texas, and Maryland
- Model home properties are spread across four U.S. states
- Texas is the largest model home concentration by property count and rent
- North Dakota and Colorado are major contributors to commercial square footage
- Geographic clustering supports operating efficiency but increases local market exposure

## Strategy

The company focuses on acquiring stabilized or near-stabilized real estate assets and improving portfolio quality through leasing, renewals, and selective dispositions. It also seeks to recycle capital from underperforming assets into new acquisitions and model home investments that can support long-term income generation.

- **Portfolio optimization through acquisitions and dispositions** (medium-term) — Capital is allocated toward properties with better income and appreciation potential.
- **Lease-up and renewal execution** (short-term) — Occupancy and rental rate improvement drive property-level cash flow.
- **Model home platform expansion** (medium-term) — Model homes provide triple-net income and a specialized relationship with homebuilders.

- Acquire stabilized or near-stabilized income properties
- Improve value through re-leasing and lease renewals
- Sell assets that lack long-term appreciation or cash flow potential
- Recycle capital into accretive real estate acquisitions
- Use leverage and capital access to expand assets under management

## Risks

The business is exposed to tenant credit risk, local market concentration, and refinancing or capital availability risk because it relies on leased real estate and periodic asset transactions. Property-level performance can also be affected by vacancy, lease rollover, valuation changes, and impairment charges, which are common risks in diversified REIT portfolios.

- **Tenant credit deterioration** [high] — Rent depends on lessees meeting obligations across office, retail, and model home assets.
- **Geographic concentration** [medium] — Several properties are clustered in a small number of U.S. states, increasing local market sensitivity.
- **Refinancing and capital availability** [high] — Acquisitions, debt repayment, and distributions depend on access to external capital.
- **Property valuation and impairment risk** [medium] — Real estate carrying values can be reduced when estimated selling prices or market conditions weaken.
- **Lease rollover and vacancy risk** [medium] — Shorter office lease terms and tenant turnover can pressure occupancy and rental income.

- Tenant defaults or weak credit can reduce rent collections
- Geographic concentration increases exposure to local market downturns
- Refinancing and capital access affect growth and liquidity
- Property impairments can arise when asset values decline
- Triple-net and office leases still depend on tenant operating health

## Accounting

Key accounting judgments include real estate valuation, impairment testing, and gain recognition on property sales, all of which can materially affect reported earnings. The company also records depreciation and amortization on its property base, and triple-net lease structures influence how operating expenses are reflected in results versus tenant reimbursements.

- **Property impairment estimates** — Can materially reduce reported earnings in periods of weak asset values
- **Gain on sale of real estate** — Can create large one-time earnings swings
- **Depreciation and amortization** — Affects comparability across periods and property types
- **Non-controlling interests** — Changes the portion of earnings attributable to common shareholders

- Real estate impairment testing depends on estimated selling prices and market conditions
- Gains on property sales can create volatile period-to-period results
- Depreciation and amortization reduce reported earnings on owned properties
- Triple-net leases shift many property costs to tenants and affect expense presentation
- Non-controlling interests can arise from affiliated model home entities

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*Last updated: 2026-04-29T04:49:24.646047+00:00*