Presidio Property Trust's Q4 Performance Highlights
In a recent update, Presidio Property Trust, Inc. reported substantial activities in the model home sector during the fourth quarter. The company, which operates as a diversified real estate investment trust (REIT), has successfully sold five model homes for approximately $2.7 million. These homes, originally purchased between 2017 and 2022, were bought at a total acquisition cost of around $2.5 million.
Insights from Leadership
Steve Hightower, President of the Model Homes Division, shared his thoughts on the quarter's performance. He indicated that the model home division has been progressing in line with expectations, noting the cyclical nature of home sales influenced by seasonal and electoral factors. Despite these challenges, Presidio has made commendable strides, successfully attracting new home buyers within the resale market.
Model Homes in the Portfolio
As of December 31, 2024, model homes represent about 29% of Presidio's net real estate assets. The company takes pride in its substantial ownership of the model home inventory, with 55 of the 78 model homes fully owned. This strategic positioning allows for significant influence in the burgeoning housing market.
Strategic Focus on Opportunities
Continued analysis of purchasing opportunities is a crucial focus for Presidio. The company is actively seeking potential acquisitions from national, regional, and local builders across various markets. This strategic initiative positions the company to leverage market conditions effectively and fulfill the growing demand for home ownership.
About Presidio Property Trust
Presidio Property Trust is an internally managed REIT with an extensive portfolio that includes model home properties leased to homebuilders. The company also engages in office, industrial, and retail properties, primarily located in Colorado, with additional assets in Maryland, North Dakota, Texas, and Southern California. This diversified approach provides stability and potential growth in various sectors of the real estate market.
Investor Relations Information
For inquiries regarding investments, please reach out to Presidio Property Trust’s Investor Relations. Contact Lowell Hartkorn at (760) 471-8536 x1244 or via email at LHartkorn@presidiopt.com. Engaging with the investor community is essential for transparency and ongoing dialogue.
Frequently Asked Questions
What were the total sales of model homes in Q4 2024?
Presidio Property Trust sold five homes for a total of approximately $2.7 million.
When were the homes purchased that were sold in Q4 2024?
The homes sold were purchased between 2017 and 2022.
What percentage of Presidio's assets are model homes?
Model homes account for approximately 29% of Presidio's net real estate assets.
Who is the President of the Model Homes Division?
Steve Hightower serves as the President of the Model Homes Division at Presidio Property Trust.
How can investors contact Presidio for more information?
Investors can reach out to Lowell Hartkorn at (760) 471-8536 x1244 or through email at LHartkorn@presidiopt.com.
