Presidio Property Trust Inc
For the period ended Dec 31, 2023. Filed Apr 16, 2024.
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FY2023 · Filed Apr 16, 2024
SQFTW$0.01+3.8%Stored close · as of Nov 9, 2026
Extracted filing text, with the paragraph anchors used by the comparison.
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Consolidated Balance Sheets
| December 31, | December 31, | |
|---|---|---|
| 2023 | 2022 | |
| (Unaudited) | ||
| ASSETS | ||
| Real estate assets and lease intangibles: | ||
| Land | $21,660,644 | $19,189,386 |
| Buildings and improvements | 133,829,416 | 125,979,374 |
| Tenant improvements | 17,820,948 | 13,861,839 |
| Lease intangibles | 4,110,139 | 4,110,139 |
| Real estate assets and lease intangibles held for investment, cost | 177,421,147 | 163,140,738 |
| Accumulated depreciation and amortization | (38,725,356) | (34,644,511) |
| Real estate assets and lease intangibles held for investment, net | 138,695,791 | 128,496,227 |
| Real estate assets held for sale, net | 5,459,993 | 2,016,003 |
| Real estate assets, net | 144,155,784 | 130,512,230 |
| Other assets: | ||
| Cash, cash equivalents and restricted cash | 6,510,428 | 16,516,725 |
| Deferred leasing costs, net | 1,657,055 | 1,516,835 |
| Goodwill | 1,574,000 | 2,423,000 |
| Investment in Conduit Pharmaceuticals marketable securities (see Notes 2 & 9) | 18,318,521 | — |
| Deferred tax asset | 346,762 | — |
| Other assets, net (see Note 6) | 3,400,088 | 3,511,681 |
| Total other assets | 31,806,854 | 23,968,241 |
| Investments held in Trust (see Notes 2 & 9) | — | 136,871,183 |
| TOTAL ASSETS | $175,962,638 | $291,351,654 |
| LIABILITIES AND EQUITY | ||
| Liabilities: | ||
| Mortgage notes payable, net | $103,685,444 | $95,899,176 |
| Mortgage notes payable related to properties held for sale, net | 4,027,829 | 999,523 |
| Mortgage notes payable, total net | 107,713,273 | 96,898,699 |
| Accounts payable and accrued liabilities | 4,792,034 | 4,028,564 |
| Accounts payable and accrued liabilities of SPAC (see Notes 2 & 9) | — | 5,046,725 |
| Accrued real estate taxes | 1,953,087 | 1,879,875 |
| Dividends payable | 174,011 | 178,511 |
| Lease liability, net | 16,086 | 46,833 |
| Below-market leases, net | 13,266 | 18,240 |
| Total liabilities | 114,661,757 | 108,097,447 |
| Commitments and contingencies (Note 2 & 9): | ||
| SPAC Class A common stock subject to possible redemption; none as of December 31, 2023 and 13,225,000 shares as of December 31, 2022 (at $10.45 per share), net of issuance cost of approximately $6,400,000 | — | 130,411,135 |
| Equity: | ||
| Series D Preferred Stock, $0.01 par value per share; 1,000,000 shares authorized; 898,940 shares issued and outstanding (liquidation preference $25.00 per share) as of December 31, 2023 and 913,987 shares issued and outstanding as of December 31, 2022 | 8,909 | 9,140 |
| Series A Common Stock, $0.01 par value per share, shares authorized: 100,000,000; 11,859,726 shares and 11,807,893 shares were issued and outstanding at December 31, 2023 and December 31, 2022, respectively | 122,651 | 118,079 |
| Additional paid-in capital | 182,310,219 | 182,044,157 |
| Dividends and accumulated losses | (131,508,785) | (138,341,750) |
| Total stockholders' equity before noncontrolling interest | 50,932,994 | 43,829,626 |
| Noncontrolling interest | 10,367,887 | 9,013,446 |
| Total equity | 61,300,881 | 52,843,072 |
| TOTAL LIABILITIES AND EQUITY | $175,962,638 | $291,351,654 |
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