Exhibit 99.2
SUPPLEMENTAL FINANCIAL INFORMATION
As of March 31, 2026
| FORWARD-LOOKING STATEMENTS |  |
This presentation contains “forward-looking statements” within the meaning of the federal securities laws that involve risks and uncertainties, many of which are beyond our control. Our actual results could differ materially and adversely from those anticipated in such forward-looking statements as a result of certain factors, including those set forth in the Quarterly Report on Form 10-Q. Forward-looking statements relate to matters such as our industry, business strategy, goals and expectations concerning our market position, future operations, margins, profitability, capital expenditures, financial condition, liquidity, capital resources, cash flows, dividends, results of operations and other financial and operating information. When used in this presentation, the words “will,” “may,” “believe,” “anticipate,” “intend,” “estimate,” “expect,” “should,” “project,” “plan,” and similar expressions are intended to identify forward-looking statements, although not all forward-looking statements contain such identifying words.
The forward-looking statements contained in this presentation are based on historical performance and management’s current plans, estimates and expectations in light of information currently available to it and are subject to uncertainty and changes in circumstances. There can be no assurance that future developments affecting us will be those that we have anticipated. Actual results may differ materially from these expectations due to the factors, risks and uncertainties described in the Annual Report on Form 10-K, as filed March 27, 2026 (“Annual Report”) and the Company’s Quarterly Report on Form 10-Q filed with the SEC on the date hereof (“Quarterly Report”), changes in global, regional or local political, economic, business, competitive, market, regulatory and other factors described in the “Risk Factors” section of the Annual Report and the Quarterly Report, many of which are beyond our control. Should one or more of these risks or uncertainties materialize or should any of our assumptions prove to be incorrect, our actual results may vary in material respects from what we may have expressed or implied by these forward-looking statements. We caution that you should not place undue reliance on any of our forward-looking statements. Any forward-looking statement made by us in this presentation speaks only as of the date on which we make it. Factors or events that could cause our actual results to differ may emerge from time to time, and it is not possible for us to predict all of them. We undertake no obligation to publicly update any forward-looking statement, whether as a result of new information, future developments or otherwise, except as may be required by applicable securities laws.
| COMPANY OVERVIEW | |
| ● | Presidio Property Trust, Inc. (“Presidio” or the “Company”) was founded in 1999 as NetREIT |
| ● | Presidio is an internally managed real estate company focused on commercial real estate opportunities in often overlooked and regionally dominant markets |
| ● | The Company acquires, owns, and manages office and industrial real estate assets in markets with strong demographic and economic drivers with attractive going-in cap rates Portfolio Summary (Number / Square Footage) |
| ● | Presidio’s commercial portfolio currently includes 9 commercial properties with a book value of approximately $66.2 million |
| ● | In addition to its commercial real estate holdings, Presidio generates fees and rental income from affiliated entities, which manage and/or own a portfolio of model homes (1) |
| Corporate Information | |
| Headquarters | San Diego, CA |
| Founded | 1999 |
| Key Geographies | CA, CO, MD, ND & TX |
| Employees | 14 |
| Portfolio Summary (Number / Square Footage) | |
| Office | 7 properties / 649,120 sqft. |
| Retail | 1 properties / 10,500 sqft. |
| Industrial | 1 property / 150,099 sqft. |
| Model Homes (1) | 75 homes / 237,981 sqft |
| Portfolio Value & Debt | |
| Book Value | $100.5 million (2) |
| Existing Secured Debt | $82.4 million |
| (1) | The Company holds partial ownership interests in several entities which own model home properties |
| (2) | Includes book value of model homes |
| COMMERCIAL PORTFOLIO | |
| Date | Real estate assets and lease intangibles, net | |||||||||||
| Property Name | Acquired | Location | March 31, 2026 | December 31, 2025 | ||||||||
| Genesis Plaza (1) | August 2010 | San Diego, CA | $ | 7,154,860 | $ | 7,274,600 | ||||||
| Dakota Center (2) | May 2011 | Fargo, ND | — | 4,861,267 | ||||||||
| Grand Pacific Center | March 2014 | Bismarck, ND | 7,991,440 | 8,082,202 | ||||||||
| Arapahoe Center | December 2014 | Centennial, CO | 8,752,279 | 8,874,198 | ||||||||
| West Fargo Industrial | August 2015 | Fargo, ND | 6,355,397 | 6,404,774 | ||||||||
| 300 N.P. | August 2015 | Fargo, ND | 1,925,488 | 1,949,040 | ||||||||
| One Park Center | August 2015 | Westminster, CO | 5,637,002 | 5,740,065 | ||||||||
| Shea Center II (3) | December 2015 | Highlands Ranch, CO | 15,978,009 | 16,249,498 | ||||||||
| Mandolin (4) | August 2021 | Houston, TX | 4,485,923 | 4,508,851 | ||||||||
| Baltimore | December 2021 | Baltimore, MD | 7,960,570 | 8,016,747 | ||||||||
| Commercial properties | 66,240,968 | 71,961,242 | ||||||||||
| Model Home properties (5) | 2019 - 2025 | AZ, TN, TX, AL | 34,253,639 | 36,688,462 | ||||||||
| Total real estate assets and lease intangibles, net | $ | 100,494,606 | $ | 108,649,704 | ||||||||
| (1) | Genesis Plaza is owned by two tenants-in-common, NetREIT Genesis and NetREIT Genessis II, each of which own 57% and 43%, respectively, and we beneficially own an aggregate of 92.0%, based on our ownership of each entity. We have 100% ownership of NetREIT Genesis and 81.5% ownership of NetREIT Genesis II, and we have control of both entities. During July 2024, the Company completed a minority ownership conversion option as result of a death in a noncontrolling trust within NetREIT Genesis II. The Company issued the trust 86,232 shares of SQFT Series A Common Stock in exchange for their 36.4% ownership in NetREIT Genesis II, as per the original exchange agreement. |
| (2) | The non-recourse loan on the Dakota Center property matured on July 6, 2024. During December 2024, the lender agreed to the broker the Company would use to sell the property to settle the non-recourse debt. During July 2025, the lender approved a purchase offer from a third party for $5,125,000. On January 14, 2026, the Company completed the disposition of the Dakota Center property securing nonrecourse mortgage debt that had been in default. The lender controlled and approved the disposition process and accepted the proceeds from the sale in full satisfaction of the outstanding debt obligation. The Company recognized a gain on disposition of approximately $3.5 million, consisting primarily of the extinguishment of nonrecourse debt obligations and derecognition of the related net liabilities associated with the property |
| (3) | During January 2026, the Company received notice that the Company’s failure to repay in full by January 5, 2026 the indebtedness related to the loan agreement governing Shea Center II had triggered a default event. On February 13, 2026, the Company received notification that the Shea Center II property governed by the non-recourse loan agreement was moved into receivership and the lender has started the foreclosure process. The foreclosure sale and public auction is scheduled for June 17, 2026. The lender holds approximately $2.4 million in restricted cash, some of which is being utilized by the receiver to operate the property. Additionally, during the three months ended March 31, 2026 and 2025, Shea Center II was listed as held for sale, related to the foreclosure sale and impaired approximately $0.4 million. |
| (4) | A portion of the proceeds from the sale of Highland Court were used in like-kind exchange transactions pursued under Section 1031 of the Code for the acquisition of our Mandolin property. Mandolin is owned by NetREIT Palm Self-Storage LP, through its wholly owned subsidiary, NetREIT Highland LLC, and the Company is the sole general partner and owns 61.3% of NetREIT Palm Self-Storage LP. |
| (5) | Includes Model Homes listed as held for sale as of March 31, 2026 and December 31, 2025. During the three months ended March 31, 2026, we recorded an impairment charge for model homes totaling $524,373, which reflects the estimated sales prices for these specific model homes. The short hold period, less than two years, and the builder changing their model style after we purchased the homes, contributed to the lower-than-expected sales price. |
| MODEL HOMES PORTFOLIO | |
| State | No. of Properties | Aggregate Square Feet | Approximate % of Square Feet | Current Base Annual Rent | Approximate % of Aggregate Annual Rent | |||||||||||||
| Alabama | 10 | 23,835 | 10.7 | % | $ | 61,032 | 1.9 | % | ||||||||||
| Arizona | 1 | 3,474 | 1.5 | % | 41,508 | 1.2 | % | |||||||||||
| Tennessee | 2 | 5,534 | 2.5 | % | 2,271,504 | 69.3 | % | |||||||||||
| Texas | 62 | 190,417 | 85.4 | % | 903,900 | 27.6 | % | |||||||||||
| Total | 75 | 223,260 | 100.0 | % | $ | 3,277,944 | 100.0 | % | ||||||||||
| CONSOLIDATED BALANCE SHEET | |
Presidio Property Trust, Inc. and Subsidiaries
Consolidated Balance Sheets
| March 31, | December 31, | |||||||
| 2026 | 2025 | |||||||
| (unaudited) | ||||||||
| ASSETS | ||||||||
| Real estate assets and lease intangibles: | ||||||||
| Land | $ | 13,789,653 | $ | 16,390,250 | ||||
| Buildings and improvements | 82,684,544 | 101,878,107 | ||||||
| Tenant improvements | 11,435,230 | 17,645,103 | ||||||
| Lease intangibles | 1,400,602 | 3,467,798 | ||||||
| Real estate assets and lease intangibles held for investment, cost | 109,310,029 | 139,381,258 | ||||||
| Accumulated depreciation and amortization | (26,266,550 | ) | (37,536,809 | ) | ||||
| Real estate assets and lease intangibles held for investment, net | 83,043,479 | 101,844,449 | ||||||
| Real estate assets held for sale, net | 17,451,127 | 6,805,255 | ||||||
| Real estate assets, net | 100,494,606 | 108,649,704 | ||||||
| Other assets: | ||||||||
| Cash, cash equivalents and restricted cash | 5,171,903 | 7,422,359 | ||||||
| Deferred leasing costs, net | 1,230,452 | 1,340,853 | ||||||
| Goodwill | 1,317,000 | 1,317,000 | ||||||
| Investment in Conduit Pharmaceuticals marketable securities (see Notes 2 & 9) | 5,885 | 3,900 | ||||||
| Deferred tax asset | 223,388 | 223,388 | ||||||
| Other assets, net (see Note 6) | 2,803,541 | 3,095,670 | ||||||
| Total other assets | 10,752,169 | 13,403,170 | ||||||
| TOTAL ASSETS (1) | $ | 111,246,775 | $ | 122,052,874 | ||||
| LIABILITIES AND EQUITY | ||||||||
| Liabilities: | ||||||||
| Mortgage notes payable, net | $ | 64,160,535 | $ | 81,936,586 | ||||
| Mortgage notes payable related to real estate assets held for sale, net | 17,473,032 | 10,137,781 | ||||||
| Mortgage notes payable, total net | 81,633,567 | 92,074,367 | ||||||
| Accounts payable and accrued liabilities | 3,044,512 | 3,302,187 | ||||||
| Accrued real estate taxes | 1,378,644 | 1,785,029 | ||||||
| Dividends payable | — | 190,220 | ||||||
| Lease liability, net | 33,756 | 40,108 | ||||||
| Below-market leases, net | 2,073 | 3,316 | ||||||
| Total liabilities | 86,092,552 | 97,395,227 | ||||||
| Commitments and contingencies (see Note 10) | ||||||||
| Equity: | ||||||||
| Series D Preferred Stock, $0.01 par value per share; 1,000,000 shares authorized; 973,736 shares issued and outstanding (liquidation preference $25.00 per share) as of March 31, 2026 and 973,736 shares issued and outstanding as of December 31, 2025 | 9,737 | 9,737 | ||||||
| Series A Common Stock, $0.01 par value per share, shares authorized: 100,000,000; 1,314,159 shares and 1,314,159 shares were issued and outstanding as of March 31, 2026 and December 31, 2025, respectively | 13,142 | 13,142 | ||||||
| Additional paid-in capital | 186,954,022 | 186,762,388 | ||||||
| Dividends and accumulated losses | (169,504,393 | ) | (169,945,302 | ) | ||||
| Total stockholders’ equity before noncontrolling interest | 17,472,508 | 16,839,965 | ||||||
| Noncontrolling interest | 7,681,715 | 7,817,682 | ||||||
| Total equity | 25,154,223 | 24,657,647 | ||||||
| TOTAL LIABILITIES AND EQUITY | $ | 111,246,775 | $ | 122,052,874 | ||||
| CONSOLIDATED STATEMENT OF OPERATIONS | |
Presidio Property Trust, Inc. and Subsidiaries
Consolidated Statements of Operations
| For the Three Months Ended March 31, | ||||||||
| 2026 | 2025 | |||||||
| Revenues: | ||||||||
| Rental income | $ | 3,684,044 | $ | 4,032,429 | ||||
| Fees and other income | 88,756 | 92,755 | ||||||
| Total revenue | 3,772,800 | 4,125,184 | ||||||
| Costs and expenses: | ||||||||
| Rental operating costs | 1,544,441 | 1,612,642 | ||||||
| General and administrative | 1,673,823 | 1,661,978 | ||||||
| Depreciation and amortization | 998,969 | 1,244,104 | ||||||
| Impairment of goodwill and real estate assets | 524,373 | 26,943 | ||||||
| Total costs and expenses | 4,741,606 | 4,545,667 | ||||||
| Other income (expense): | ||||||||
| Interest expense - mortgage notes | (2,050,074 | ) | (1,510,470 | ) | ||||
| Net gain (loss) in Conduit Pharmaceuticals marketable securities (see Note 9) | 1,985 | (176,658 | ) | |||||
| Interest and other income, net | 5,149 | 5,149 | ||||||
| Gain on sales of real estate, net | 172,096 | 4,453,968 | ||||||
| Gain on disposition of assets and liabilities, net | 3,416,501 | — | ||||||
| Income tax (expense) benefit | (18,057 | ) | 25,409 | |||||
| Total other income (expense), net | 1,527,600 | 2,797,398 | ||||||
| Net income | 558,794 | 2,376,915 | ||||||
| Less: Income attributable to noncontrolling interests | (117,885 | ) | (111,563 | ) | ||||
| Net income attributable to Presidio Property Trust, Inc. stockholders | $ | 440,909 | $ | 2,265,352 | ||||
| Less: Series D Preferred Stock declared dividends | — | (579,575 | ) | |||||
| Less: Series D Preferred Stock undeclared dividends in arrears | (570,541 | ) | — | |||||
| Net (loss) income attributable to Presidio Property Trust, Inc. common stockholders | $ | (129,632 | ) | $ | 1,685,777 | |||
| Net (loss) income per share attributable to Presidio Property Trust, Inc. common stockholders: | ||||||||
| Basic & Diluted | $ | (0.10 | ) | $ | 1.31 | |||
| Weighted average number of common shares outstanding - basic & dilutive | 1,314,159 | 1,283,432 | ||||||
| CONSOLIDATED STATEMENT OF CASH FLOWS | |
Presidio Property Trust, Inc. and Subsidiaries
Consolidated Statements of Cash Flows
| For the Three Months Ended March 31, | ||||||||
| 2026 | 2025 | |||||||
| Cash flows from operating activities: | ||||||||
| Net income | $ | 558,794 | $ | 2,376,915 | ||||
| Adjustments to reconcile net income to net cash used in operating activities: | ||||||||
| Depreciation and amortization | 998,969 | 1,244,104 | ||||||
| Stock compensation | 191,634 | 229,502 | ||||||
| Bad debt expense | 73,000 | — | ||||||
| Gain on sale of real estate assets, net | (172,096 | ) | (4,453,968 | ) | ||||
| Gain on disposition of assets and liabilities, net | (3,416,501 | ) | — | |||||
| Net (gain) loss in Conduit Pharmaceuticals fair value marketable securities | (1,985 | ) | 176,658 | |||||
| Impairment of goodwill and real estate assets | 524,373 | 26,943 | ||||||
| Amortization of financing costs | 53,987 | 68,923 | ||||||
| Amortization of below-market leases | (1,243 | ) | (1,022 | ) | ||||
| Straight-line rent adjustment | 2,479 | (84,822 | ) | |||||
| Changes in operating assets and liabilities: | ||||||||
| Other assets | 88,369 | 567,686 | ||||||
| Accounts payable and accrued liabilities | 656,426 | 532,895 | ||||||
| Deferred leasing costs | (72,834 | ) | 99,752 | |||||
| Accrued real estate taxes | (440,575 | ) | (902,471 | ) | ||||
| Net cash used in operating activities | (957,203 | ) | (118,905 | ) | ||||
| Cash flows from investing activities: | ||||||||
| Real estate acquisitions | — | (4,270,192 | ) | |||||
| Additions to buildings and tenant improvements | (165,817 | ) | (568,555 | ) | ||||
| Proceeds from sales of real estate, net | 7,052,033 | 18,391,811 | ||||||
| Net cash provided by investing activities | 6,886,216 | 13,553,064 | ||||||
| Cash flows from financing activities: | ||||||||
| Proceeds from mortgage notes payable, net of issuance costs | — | 2,979,052 | ||||||
| Payment of debt issuance costs | — | (61,914 | ) | |||||
| Repayment of mortgage notes payable | (7,721,564 | ) | (11,379,734 | ) | ||||
| Payment of deferred offering costs | (13,833 | ) | (60,000 | ) | ||||
| Distributions to noncontrolling interests | (253,852 | ) | (216,659 | ) | ||||
| Repurchase of Series D Preferred Stock, at cost | — | (194,972 | ) | |||||
| Dividends paid to Series D Preferred Stockholders | (190,220 | ) | (579,575 | ) | ||||
| Net cash used in financing activities | (8,179,469 | ) | (9,513,802 | ) | ||||
| Net (decrease) increase in cash equivalents and restricted cash | (2,250,456 | ) | 3,920,357 | |||||
| Cash, cash equivalents and restricted cash - beginning of period | 7,422,359 | 8,036,496 | ||||||
| Cash, cash equivalents and restricted cash - end of period | $ | 5,171,903 | $ | 11,956,853 | ||||
| Supplemental disclosure of cash flow information: | ||||||||
| Interest paid-mortgage notes payable | $ | 2,108,796 | $ | 1,335,280 | ||||
| Income taxes paid | $ | 78,848 | $ | 46,511 | ||||
| Non-cash investing activities: | ||||||||
| Paid building and tenant improvements from prior year | $ | (361,261 | ) | $ | (207,847 | ) | ||
| Paid deferred offering costs from prior year | $ | 6,589 | $ | — | ||||
| Non-cash financing activities: | ||||||||
| Unpaid deferred offering costs | $ | 820 | $ | — | ||||
| Unpaid building and tenant improvements | $ | 262,251 | $ | — | ||||
| Dividends payable - Series D Preferred Stock | $ | — | $ | 192,232 | ||||
| EBITDAre RECONCILIATION | |
For the Three Months Ended March 31, | ||||||||
| 2026 | 2025 | |||||||
| Net (loss) income attributable to Presidio Property Trust, Inc. common stockholders | $ | (129,632 | ) | $ | 1,685,777 | |||
| Adjustments | ||||||||
| Interest Expense | 2,050,074 | 1,510,470 | ||||||
| Depreciation and Amortization | 997,725 | 1,243,082 | ||||||
| Asset Impairment | 524,373 | 26,943 | ||||||
| Net gain on sale of real estate | (172,096 | ) | (4,453,968 | ) | ||||
| Gain on extinguishment of debt | (3,416,501 | ) | — | |||||
| Net loss on marketable securities | (1,985 | ) | 176,658 | |||||
| Income Taxes | 18,057 | (25,409 | ) | |||||
| EBITDAre | $ | (129,985 | ) | $ | 163,553 | |||
| FFO AND CORE FFO RECONCILIATION | |
For the Three Months Ended March 31, | ||||||||
| 2026 | 2025 | |||||||
| Net (loss) income attributable to Presidio Property Trust, Inc. common stockholders | $ | (129,632 | ) | $ | 1,685,777 | |||
| Adjustments: | ||||||||
| Income attributable to noncontrolling interests | 117,885 | 111,563 | ||||||
| Depreciation and amortization | 998,969 | 1,244,104 | ||||||
| Amortization of above and below market leases, net | (1,244 | ) | (1,022 | ) | ||||
| Impairment of real estate assets | 524,373 | 26,943 | ||||||
| Loss on marketable securities | (1,985 | ) | 176,658 | |||||
| Net gain on sale of real estate assets | (172,096 | ) | (4,453,968 | ) | ||||
| Gain on extinguishment of debt | (3,416,501 | ) | — | |||||
| FFO | $ | (2,080,231 | ) | $ | (1,209,945 | ) | ||
| Stock Based Compensation | 191,633 | 229,502 | ||||||
| Core FFO | $ | (1,888,598 | ) | $ | (980,443 | ) | ||
| Weighted average number of common shares outstanding - basic and diluted | 1,314,159 | 1,283,432 | ||||||
| Core FFO / Wgt Avg Share | $ | (1.44 | ) | $ | (0.76 | ) | ||
| SEGMENT DATA |
The following tables compare the Company’s segment activity and NOI and adjusted NOI for Model Home income to its results of operations and financial position and the Company’s segment activity and to its results of GAAP operations and financial position for the year ended March 31, 2026. The information for Corporate and Other are presented to reconcile back to the consolidated statement of operations, but is not considered a reportable segment.
| For the Three Months Ended March 31, 2026 | ||||||||||||||||||||
| Retail | Office/Industrial | Model Homes | Corporate and Other | Total | ||||||||||||||||
| Rental revenue | $ | 93,574 | $ | 2,234,494 | $ | 919,890 | $ | — | $ | 3,247,958 | ||||||||||
| Recovery revenue | - | 436,086 | — | — | 436,086 | |||||||||||||||
| Other operating revenue | - | 82,800 | 5,534 | 422 | 88,756 | |||||||||||||||
| Total revenues | 93,574 | 2,753,380 | 925,424 | 422 | 3,772,800 | |||||||||||||||
| Rental operating costs | 4,832 | 1,630,837 | 48,877 | (140,105 | ) | 1,544,441 | ||||||||||||||
| Net Operating Income (NOI) | 88,742 | 1,122,543 | 876,547 | 140,527 | 2,228,359 | |||||||||||||||
| Gain on Sale - Model Homes | — | — | 172,096 | — | 172,096 | |||||||||||||||
| Impairment of Model Homes | — | — | (75,639 | ) | — | (75,639 | ) | |||||||||||||
| Adjusted NOI | $ | 88,742 | $ | 1,122,543 | $ | 973,004 | $ | 140,527 | $ | 2,324,816 | ||||||||||
| For the Three Months Ended March 31, 2026 | ||||||||||||||||||||
| Retail | Office/Industrial | Model Homes | Corporate and Other | Total | ||||||||||||||||
| Revenues: | ||||||||||||||||||||
| Rental income | $ | 93,574 | $ | 2,670,580 | $ | 919,890 | $ | — | $ | 3,684,044 | ||||||||||
| Fees and other income | - | 82,800 | 5,534 | 422 | 88,756 | |||||||||||||||
| Total revenue | 93,574 | 2,753,380 | 925,424 | 422 | 3,772,800 | |||||||||||||||
| Costs and expenses: | ||||||||||||||||||||
| Rental operating costs | 4,832 | 1,630,837 | 48,877 | (140,105 | ) | 1,544,441 | ||||||||||||||
| General and administrative | — | 17,499 | 226,882 | 1,429,442 | 1,673,823 | |||||||||||||||
| Depreciation and amortization | 22,928 | 784,276 | 191,292 | 473 | 998,969 | |||||||||||||||
| Impairment of goodwill and real estate assets | — | 448,734 | 75,639 | — | 524,373 | |||||||||||||||
| Total costs and expenses | 27,760 | 2,881,346 | 542,690 | 1,289,810 | 4,741,606 | |||||||||||||||
| Other income (expense): | ||||||||||||||||||||
| Interest expense - mortgage notes | (43,117 | ) | (1,543,083 | ) | (462,558 | ) | (1,316 | ) | (2,050,074 | ) | ||||||||||
| Interest and other income, net | — | — | 9 | 5,140 | 5,149 | |||||||||||||||
| Net loss in Conduit Pharmaceuticals marketable securities (see footnote 9) | — | — | — | 1,985 | 1,985 | |||||||||||||||
| Gain on sales of real estate, net | — | — | 172,096 | — | 172,096 | |||||||||||||||
| Gain on disposition of assets and liabilities, net | — | 3,416,501 | — | — | 3,416,501 | |||||||||||||||
| Income tax (expense) benefit | — | — | (15,657 | ) | (2,400 | ) | (18,057 | ) | ||||||||||||
| Total other income (expense), net | (43,117 | ) | 1,873,418 | (306,110 | ) | 3,409 | 1,527,600 | |||||||||||||
| Net income (loss) | 22,697 | 1,745,452 | 76,624 | (1,285,979 | ) | 558,794 | ||||||||||||||
| Less: Income attributable to noncontrolling interests | — | 2,053 | (119,938 | ) | — | (117,885 | ) | |||||||||||||
| Net income (loss) attributable to Presidio Property Trust, Inc. stockholders | $ | 22,697 | $ | 1,747,505 | $ | (43,314 | ) | $ | (1,285,979 | ) | $ | 440,909 | ||||||||
| SEGMENT DATA (continued) |
| March 31, | December 31, | |||||||
| Assets by Reportable Segment: | 2026 | 2025 | ||||||
| Office/Industrial Properties: | ||||||||
| Land, buildings and improvements, net (1) | $ | 61,748,416 | $ | 67,445,290 | ||||
| Total assets (2) | $ | 69,016,593 | $ | 68,980,087 | ||||
| Model Home Properties: | ||||||||
| Land, buildings and improvements, net (1) | $ | 34,253,639 | $ | 36,688,462 | ||||
| Total assets (2) | $ | 34,519,643 | $ | 37,301,777 | ||||
| Retail Properties: | ||||||||
| Land, buildings and improvements, net (1) | $ | 4,485,923 | $ | 4,508,851 | ||||
| Total assets (2) | $ | 4,652,651 | $ | 4,669,852 | ||||
| Reconciliation to Total Assets: | ||||||||
| Total assets for reportable segments | $ | 108,188,887 | $ | 110,951,716 | ||||
| Corporate and other assets: | ||||||||
| Cash, cash equivalents and restricted cash | 116,685 | 173,621 | ||||||
| Other assets, net | 2,941,203 | 10,927,537 | ||||||
| Total Assets | $ | 111,246,775 | $ | 122,052,874 | ||||
| (1) | Includes lease intangibles. |
| (2) | Includes land, buildings and improvements, cash, cash equivalents, and restricted cash, current receivables, deferred rent receivables and deferred leasing costs and other related intangible assets, all shown on a net basis. |
| DEFINITIONS – NON-GAAP MEASUREMENTS | |
EBITDAre - EBITDAre is defined by NAREIT as earnings before interest, taxes, depreciation, and amortization, gain or loss on disposal of depreciated assets, and impairment write-offs.
Funds from Operations (“FFO”) – The Company evaluates performance based on Funds From Operations, which we refer to as FFO, as management believes that FFO represents the most accurate measure of activity and is the basis for distributions paid to equity holders. The Company defines FFO, a non-GAAP measure, as net income or loss (computed in accordance with GAAP), excluding gains (or losses) from sales of property, hedge ineffectiveness, acquisition costs of newly acquired properties that are not capitalized and lease acquisition costs that are not capitalized plus depreciation and amortization, including amortization of acquired above and below market lease intangibles and impairment charges on properties or investments in non-consolidated REITs, and after adjustments to exclude equity in income or losses from, and, to include the proportionate share of FFO from, non-consolidated REITs.
However, because FFO excludes depreciation and amortization as well as the changes in the value of the Company’s properties that result from use or market conditions, each of which have real economic effects and could materially impact the Company’s results from operations, the utility of FFO as a measure of the Company’s performance is limited. In addition, other REITs may not calculate FFO in accordance with the NAREIT definition as the Company does, and, accordingly, the Company’s FFO may not be comparable to other REITs’ FFO. Accordingly, FFO should be considered only as a supplement to net income as a measure of the Company’s performance.
Core Funds from Operations (“Core FFO”) – We calculate Core FFO by using FFO as defined by NAREIT and adjusting for certain other non-core items. We exclude from our Core FFO calculation acquisition costs, loss on early extinguishment of debt, changes in the fair value of the earn-out, changes in fair value of contingent consideration, non-cash warrant dividends, other non-recuring expenses, and the amortization of stock-based compensation.
We believe Core FFO provides a useful metric in comparing operations between reporting periods and in assessing the sustainability of our ongoing operating performance. Other equity REITs may calculate Core FFO differently or not at all, and, accordingly, the Company’s Core FFO may not be comparable to such other REITs’ Core FFO.