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Note 4 - Real Estate Assets

3 Months Ended

Mar. 31, 2021

4. REAL ESTATE ASSETS

The Company owns a diverse portfolio of real estate assets. The primary types of properties the Company invests in are office, industrial, retail, and triple-net leased model home properties located primarily in Colorado, with four properties located in North Dakota and two in Southern California. Our model home properties are located in four states. As of March 31, 2021, the Company owned or had an equity interest in:

	•	Nine office buildings and one industrial property (“Office/Industrial Properties”) which total approximately 867,744 rentable square feet;

	•	Three retail shopping centers (“Retail Properties”) which total approximately 110,552 rentable square feet; and

	•	106 model home residential properties (“Model Homes” or “Model Home Properties”) leased back on a triple-net basis to homebuilders that are owned by six affiliated limited partnerships and one wholly-owned corporation.

A summary of the properties owned by the Company as of March 31, 2021 is as follows:

	Date			Real estate assets, net (in thousands)
Property Name	Acquired		Location	2021
World Plaza (1)	September 2007		San Bernardino, California		9,272
Executive Office Park (1)	July 2008		Colorado Springs, Colorado		5,116
Genesis Plaza	August 2010		San Diego, California		8,472
Dakota Center	May 2011		Fargo, North Dakota		8,540
Grand Pacific Center	March 2014		Bismarck, North Dakota		5,615
Arapahoe Center	December 2014		Centennial, Colorado		9,077
Union Town Center	December 2014		Colorado Springs, Colorado		9,276
West Fargo Industrial	August 2015		Fargo, North Dakota		7,013
300 N.P.	August 2015		Fargo, North Dakota		3,278
Research Parkway	August 2015		Colorado Springs, Colorado		2,423
One Park Center	August 2015		Westminster, Colorado		8,444
Highland Court (1)	August 2015		Centennial, Colorado		10,218
Shea Center II	December 2015		Highlands Ranch, Colorado		20,715
Presidio Property Trust, Inc. properties					107,459
Model Home properties (2)		2014 - 2020	TX, FL, IL, WI		37,889
Total real estate assets and lease intangibles, net				$	145,348

⁽¹⁾This property is held for sale as of March 31, 2021.

⁽²⁾Includes 16 Model Home listed as held for sale as of March 31, 2021.