Presidio Property Trust, Inc. (SQFT): debt financing — Presidio receives default notice on $17.7M note; foreclosure threat on Colorado property

Presidio Property Trust, Inc.

Borrower failed to repay $17.7M note due Jan 5, 2026; Lender alleges event of default.
Default interest rate raised to 5% above original 4.92% (approx 9.92% per annum).
Lender has right to foreclose on Shea Center II property in Douglas County, Colorado.
Lender revoked borrower's license to collect rents from the property.
Company exploring options to cure the alleged default.

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 $17,727,500.00 with Wells Fargo Bank, National Association (the "Lender") at default interest rate equal to the lesser of (i) the maximum rate permitted by a.

Instrument: loan
Principal: original principal amount of $17,727,500.00
Counterparty: Wells Fargo Bank, National Association (the "Lender")
Rate: default interest rate equal to the lesser of (i) the maximum rate permitted by a
Event: default

Exact text from the filing

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"), constitutes an event of default under the Loan Documents.

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Presidio Property Trust, Inc. filing history →

Source: SEC EDGAR

accession 0001493152-26-003424

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