Presidio Property Trust, Inc. reports news as an internally managed, diversified REIT with model home properties triple-net leased to homebuilders and a commercial portfolio of office, industrial and retail assets. Updates commonly cover earnings, Core FFO reconciliation, segment income, model home acquisitions and resales, commercial leasing, property refinancing, and portfolio conditions in residential and office real estate markets.
Company announcements also address capital and securityholder matters for SQFT, SQFTP and SQFTW, including Series D Cumulative Redeemable Perpetual Preferred Stock dividends and dividend suspensions, as well as investor-relations engagements and other corporate communications.
Murphy Canyon Acquisition Corp. (NASDAQ:MURFU) has announced that its IPO underwriters fully exercised the over-allotment option, resulting in the purchase of an additional 1,725,000 units at $10.00 each. This brings total gross proceeds to $132.25 million. Each unit consists of one share of Class A common stock and a redeemable warrant for one additional share at $11.50. The units began trading on February 3, 2022. The company targets mergers and acquisitions within the real estate sector, aiming for a combined enterprise value of $300 million to $1.2 billion.
Presidio Property Trust issued a special dividend of warrants to purchase common stock, starting trading under the symbol SQFTW on January 24, 2022. The ex-dividend date is also January 24, 2022, for shareholders on record by January 14, 2022. Each warrant allows purchase of one share at $7.00 per share for a duration of five years. If not exercised, warrants convert to 1/10 of a common share upon expiration. Presidio is a diversified REIT primarily invested in model homes leased to builders in Texas and Florida, and various commercial properties.
Presidio Property Trust announced a cash dividend of $0.19531 per share on its 9.375% Series D Cumulative Redeemable Perpetual Preferred Stock for January 2022. The dividend will be paid on February 15, 2022, to shareholders of record as of January 31, 2022. This declaration demonstrates the company’s commitment to providing income to shareholders, amidst its diversified portfolio in real estate, primarily across Texas and Florida for model homes, and various properties in Colorado and other states.
Presidio Property Trust (NASDAQ: SQFT, SQFTP) announces a special warrant dividend related to its common stock. Trading with "due bills" will begin after the January 14, 2022 record date until just before the expected ex-dividend date on January 24, 2022. Shareholders holding shares by the record date will receive warrants allowing them to buy common stock at $7.00 per share for five years. If not exercised, warrants convert to 1/10 of a common share upon expiration. Presidio applied for warrants to trade under the symbol SQFTW.
Presidio Property Trust announced its role as the sponsor for a proposed $150 million initial public offering (IPO) through a new subsidiary, Murphy Canyon Acquisition Corp. This SPAC aims to offer 15 million units at $10 per unit, each comprising one share of common stock and three-fourths of a redeemable warrant, targeting businesses in the real estate sector, particularly Proptech. The IPO is underwritten by A.G.P/Alliance Global Partners and the offering is expected to commence within 45 to 60 days.
Presidio Property Trust announced a special warrant dividend for shareholders and existing warrant holders, effective January 14, 2022. Each holder will receive one warrant for every common share or warrant owned, with a purchase price of $7.00 per share for five years. If not exercised, these warrants convert to 1/10 of a common share. The dividend issuance is expected around January 24, 2022. The warrants will trade under the symbol SQFTW, and the company has filed for registration with the SEC, aiming for effectiveness by January 21, 2022.
Presidio Property Trust (NASDAQ:SQFT, SQFTP) announced the acquisition of eight model home properties in the Dallas-Fort Worth area on December 29, 2021. These single-family homes, leased back to builders on a triple-net basis, are part of its strategy to strengthen ties with homebuilder partners. Dallas-Fort Worth was recognized as the leading property market for 2022, with projections of over five million new residents in Texas by 2030. The company focuses on diversified real estate investments, primarily in Texas and Florida, while also managing properties across other states.
Presidio Property Trust has announced the successful acquisition of a commercial property fully leased to Johns Hopkins University's Bloomberg School of Public Health in Baltimore for cash. This property aligns with Presidio's strategy to expand into markets with strong university and hospital presences. The acquisition features a triple-net lease with steady annual rent increases, promising robust cash flow. CBRE represented the seller in this transaction, enhancing Presidio's portfolio with a reputable tenant in the healthcare sector.
Presidio Property Trust (NASDAQ:SQFT)(NASDAQ:SQFTP) has announced leadership promotions aimed at strengthening its management team. Gary Katz is now the Chief Investment Officer, while Steve Hightower has been named President of the Model Home Division. These appointments reflect the company's commitment to succession planning and growth. The firm, which focuses on model home properties leased to builders, maintains a diversified portfolio primarily in Texas and Florida, with additional properties in Colorado, North Dakota, and Southern California.
Presidio Property Trust (NASDAQ:SQFT, SQFTP) recently announced its acceptance of cryptocurrency for tenant rental and common area maintenance charges. This initiative enables tenants to pay using Bitcoin, Ethereum, Dogecoin, and Litecoin. President and CEO Jack Heilbron expressed the belief that this will be attractive to current and prospective tenants, especially in expansion markets. The company aims to position itself as a forward-thinking landlord. Presidio manages diverse commercial real estate primarily in Texas, Florida, and Colorado.