Presidio Property Trust Provides Update on Model Home Activity in Q2 2024

Group 1 - Presidio Property Trust, Inc. acquired seven newly constructed single-family model home properties in Texas for approximately $3.5 million, with $2.4 million in mortgage notes payable and $1.1 million in cash [1] - The company sold 15 homes during the second quarter of 2024 for a total of approximately $8.1 million [1] - The model homes are leased back to homebuilders on a triple-net basis, indicating a stable income stream for the company [1] Group 2 - Despite challenges such as affordability and higher interest rates, the company reported a brisk quarter of sales activity and is pleased with overall sales performance [2] - The company continues to analyze acquisition opportunities and engage with builders to find desirable properties [2] - Presidio's holdings include model home properties leased to homebuilders in multiple states, as well as office, industrial, and retail properties primarily located in Colorado [3] Group 3 - Presidio also owns approximately 6.5% of the outstanding common stock of Conduit Pharmaceuticals Inc., a clinical-stage life science company [3]