Presidio Property Trust property placed in receivership

Q: Which property of Presidio Property Trust (SQFT) is now in receivership?

The receivership covers the Shea Center II property located in Douglas County, Colorado. This asset had been pledged as security for the loan, and the court-appointed receiver now has possession and authority to operate, manage, and preserve the property.

Q: Who is the receiver appointed over Presidio Property Trust’s Shea Center II property?

The receiver is Trigild IVL, appointed pursuant to a court Order dated February 13, 2026. Trigild IVL has full power and authority to operate, manage, and preserve the Shea Center II property and to apply monies it receives as prescribed in the Order.

Q: What restrictions now apply to Presidio Property Trust (SQFT) regarding Shea Center II?

Presidio, the borrower, and related borrower parties are enjoined and restrained from collecting rents or fees from the Shea Center II property. They are also barred from interfering with the property and must turn over all existing sums derived from it to the receiver.

Q: Which lenders are involved in Presidio Property Trust’s Shea Center II loan situation?

The original lender on the note was The Bancorp Bank, with the current lender being Wells Fargo Bank, National Association. Wells Fargo issued the default notice and sought appointment of the receiver over the Shea Center II property through an ex parte motion.

Presidio Property Trust, Inc. reports that a receiver has been appointed over its Shea Center II property in Douglas County, Colorado after a loan default.

Filing Impact

(High)

Filing Sentiment

(Neutral)

Form Type

8-K

Rhea-AI Filing Summary

Presidio Property Trust, Inc. reports that a receiver has been appointed over its Shea Center II property in Douglas County, Colorado after a loan default. The default stems from the failure of subsidiary NetREIT SC II, LLC to repay in full by January 5, 2026 a promissory note originally issued for $17,727,500.00.

Under a February 13, 2026 stipulation and court Order, receiver Trigild IVL now has possession of the property with full power to operate, manage, and preserve it. Presidio, the borrower, and related parties are barred from collecting rents or fees from the property and must turn over all existing sums derived from it to the receiver.

Positive

None.

Negative

Default and receivership over Shea Center II property: NetREIT SC II, LLC failed to repay in full a $17,727,500.00 note by January 5, 2026, leading to appointment of a receiver with full control over the Colorado property and its cash flows.

Insights

Loan default leads to receivership of key Colorado property.

Presidio Property Trust discloses a default on a commercial real estate loan tied to the Shea Center II property. The original note was for $17,727,500.00, and the lender alleges an event of default after the debt was not repaid in full by January 5, 2026.

Following an ex parte motion by the lender, the borrower agreed on February 13, 2026 to appoint Trigild IVL as receiver. The receiver now controls operations, management, and preservation of the property, while Presidio and affiliated borrower parties are enjoined from collecting rents or interfering with the asset.

Monies related to the property must be turned over to the receiver and applied as prescribed in the court Order. This development concentrates control and cash flows from Shea Center II with the lender-appointed receiver, and future company filings will clarify any longer-term impact on Presidio’s portfolio and balance sheet.

8-K Event Classification

Item 8.01 — Other Events

1 item

Item 8.01 Other Events Other

Voluntary disclosure of events the company deems important to shareholders but not covered by other items.

FAQ

AI-generated questions and answers. How Rhea-AI works. Not financial advice.

What loan did Presidio Property Trust (SQFT) default on in this 8-K?

The default involves a promissory note originally issued on December 24, 2015 for $17,727,500.00. The note was owed by subsidiary NetREIT SC II, LLC and was not repaid in full by January 5, 2026, triggering the lender’s default notice.

Which property of Presidio Property Trust (SQFT) is now in receivership?

The receivership covers the Shea Center II property located in Douglas County, Colorado. This asset had been pledged as security for the loan, and the court-appointed receiver now has possession and authority to operate, manage, and preserve the property.

Who is the receiver appointed over Presidio Property Trust’s Shea Center II property?

The receiver is Trigild IVL, appointed pursuant to a court Order dated February 13, 2026. Trigild IVL has full power and authority to operate, manage, and preserve the Shea Center II property and to apply monies it receives as prescribed in the Order.

What restrictions now apply to Presidio Property Trust (SQFT) regarding Shea Center II?

Presidio, the borrower, and related borrower parties are enjoined and restrained from collecting rents or fees from the Shea Center II property. They are also barred from interfering with the property and must turn over all existing sums derived from it to the receiver.

Which lenders are involved in Presidio Property Trust’s Shea Center II loan situation?

The original lender on the note was The Bancorp Bank, with the current lender being Wells Fargo Bank, National Association. Wells Fargo issued the default notice and sought appointment of the receiver over the Shea Center II property through an ex parte motion.

How will cash flows from Shea Center II be handled after the receivership?

Monies received by the receiver in connection with the Shea Center II property will be applied as prescribed in the court Order. Presidio and the borrower parties must surrender all existing sums related to the property, consolidating financial control with the receiver.

AI-generated analysis. How Rhea-AI works. Not financial advice.

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Accepted by SEC EDGAR 02/18/2026 - 05:20 PM

UNITED STATES

SECURITIES AND EXCHANGE COMMISSION

Washington, D.C. 20549

FORM 8-K

CURRENT REPORT

PURSUANT TO SECTION 13 OR 15(d) OF THE

SECURITIES EXCHANGE ACT OF 1934

Date of Report (Date of earliest event reported): February 13, 2026

Presidio Property Trust, Inc.

(Exact name of registrant as specified in its charter)

Maryland

001-34049

33-0841255

(State or other jurisdiction

of incorporation)

(Commission

File Number)

(IRS Employer

Identification No.)

4995 Murphy Canyon Road, Suite 300

San Diego, California 92123

(Address of principal executive offices, including zip code)

Registrant’s telephone number, including area code: (760) 471-8536

Not Applicable

(Former name or former address, if changed since last report)

Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions:

	☐	Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)

	☐	Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)

	☐	Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))

	☐	Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))

Securities registered pursuant to Section 12(b) of the Act:

Title of each class	Trading Symbol(s)	Name of each exchange on which registered

Series A Common Stock, $0.01 par value per share	SQFT	The Nasdaq Stock Market LLC

9.375% Series D Cumulative Redeemable Perpetual Preferred Stock, $0.01 par value per share	SQFTP	The Nasdaq Stock Market LLC

Series A Common Stock Purchase Warrants to Purchase Shares of Common Stock	SQFTW	The Nasdaq Stock Market LLC

Indicate by check mark whether the registrant is an emerging growth company as defined in Rule 405 of the Securities Act of 1933 (§230.405 of this chapter) or Rule 12b-2 of the Securities Exchange Act of 1934 (§240.12b-2 of this chapter).

Emerging growth company ☐

If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act. ☐

Item 8.01 Other Events.

As previously disclosed, on January 21, 2026, Presidio Property Trust, Inc. (the “Company”) and NetREIT SC II, LLC, a subsidiary of the Company (the “Borrower”), received a notice (the “Default Notice”) from Wells Fargo Bank, National Association (the “Lender”) alleging that the Borrower’s failure to repay in full by January 5, 2026 the indebtedness owed under that certain promissory note dated as of December 24, 2015 issued to The Bancorp Bank (the “Original Lender”) in the original principal amount of $17,727,500.00 (the “Note”), the related loan agreement, dated as of December 24, 2015 by and between Borrower and the Original Lender (the “Loan Agreement”) and other related agreements (together with the Note and the Loan Agreement, the “Loan Documents”), constituted an event of default under the Loan Documents and alleging further that the Lender has the right to foreclose or partially foreclose certain real and personal property that the Borrower had pledged as security for the Note located in Douglas County, Colorado, known as the “Shea Center II” (the “Property”).

On February 13, 2026, in connection with an ex parte motion brought by the Lender, the Borrower entered into a stipulation with the Lender to appoint Trigild IVL (the “Receiver”) as receiver over the Property and for the entry of an Order for Appointment of Receiver (the “Order”). Pursuant to the Order, the Borrower, and certain defendant parties, which include the Company (the “Borrower Parties”) are enjoined and restrained from collecting any rents or fees from or incident to the Property and from interfering with the Property. The Borrower Parties agreed to turn over to the Receiver all sums in existence as of the date of entry of the Order that are related or pertain to, or are derived from, the Property. In addition, the Receiver shall have possession of the Property and shall have full power and authority to operate, manage, and preserve the Property.

Monies received by the Receiver in connection with the performance of its duties and responsibilities under the Order shall be applied as prescribed in the Order.

SIGNATURE

Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.

	PRESIDIO PROPERTY TRUST, INC.

	By:	/s/ Ed Bentzen
	Name:	Ed Bentzen
	Title:	Chief Financial Officer

Dated: February 18, 2026

Source: View Original Filing on SEC EDGAR

Filing Exhibits & Attachments

4 documents

Presidio Property Trust property placed in receivership