Presidio Property Trust, Inc. reported its earnings for the three months ended March 31, 2025. The company recorded a net income of approximately $4.2 million, a significant improvement compared to a net loss of approximately $0.6 million for the same period in 2024. Total revenues for the first quarter of 2025 were approximately $4.1 million, down from approximately $4.8 million in the first quarter of 2024. This decline in revenues was primarily attributed to a decrease in model home rental income and transaction fees, alongside the sale of two commercial properties. During the quarter, Presidio Property Trust acquired 12 model homes for approximately $4.3 million and sold six model homes for approximately $2.8 million, net of sales costs, recognizing a gain of approximately $0.2 million. Additionally, the company sold two commercial properties for approximately $17.0 million, realizing a net gain of approximately $4.2 million after closing costs. The company reported a 100% retention rate for expiring leases, which was highlighted as a noteworthy accomplishment by the Chief Investment Officer, Gary Katz.
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