Presidio Property Trust, Inc. (SQFT): debt financing — Presidio Property Trust reports maturity default on $11.1M loan secured by Dakota Center

Presidio Property Trust, Inc.

Default on $11.1M non-recourse loan (June 2014) secured by Dakota Center in Fargo, ND.
Working with lender and special servicer to sell property and settle debt.
Default interest rate increases to 5% above original rate; Company pays lender's expenses.

Key facts

Extracted from this filing and checked against the source text.

Debt Financings SEC 8-K Item 2.03/2.04 confidence 0.9

Presidio Property Trust, Inc. reported a default on loan of original principal amount of $11.1 million at default interest rate that is 5% above the original interest rate.

Instrument: loan
Principal: original principal amount of $11.1 million
Rate: default interest rate that is 5% above the original interest rate
Event: default

Exact text from the filing

On March 13, 2025, Presidio Property Trust, Inc. (the “Company”) received notice of a maturity date default of a loan in the original principal amount of $11.1 million evidenced by a promissory note issued on June 9, 2014.

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Presidio Property Trust, Inc. filing history →

Source: SEC EDGAR

accession 0001493152-25-010400

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