Presidio Property Trust, Inc. announced on October 17, 2024, that its subsidiary and affiliate entities acquired seven newly constructed single-family model home properties during the third quarter of 2024.
These properties are located in Texas and were purchased for a total of approximately $4 million. The acquisitions were financed with mortgage notes payable.
This expansion reflects Presidio's ongoing strategy to grow its model home segment, which is considered a vital part of the homebuilding process and a distinct revenue stream for the diversified REIT.
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