Business
Presidio Property Trust Announces Acceptance of Cryptocurrency for Tenant Payments
SAN DIEGO, CA / ACCESSWIRE / December 8, 2021 / Presidio Property Trust (NASDAQ:SQFT, SQFTP), an internally managed, diversified real estate investment trust,
About this update from Presidio Property Trust, Inc.
[{"type":"text","content":"SAN DIEGO, CA / ACCESSWIRE / December 8, 2021 / Presidio Property Trust (NASDAQ:SQFT, SQFTP), an internally managed, diversified real estate investment trust, today announced acceptance of cryptocurrency as a valid form of payment for tenant rental and CAM (common area maintenance) charges.\"We are now set up to accept a number of cryptocurrencies, including Bitcoin (BTC), Ethereum (ETH), Dogecoin (DOGE) and Litecoin (LTC), from our commercial tenants,\" said Jack Heilbron, President and Chief Executive Officer.\"We believe that these additional payment options will be attractive to some of our current and prospective tenants, especially in new, expansion markets,\" added Gary Katz, Senior Vice President of Asset Management. \"This is another way that Presidio Property can differentiate itself as a forward-thinking landlord.\"About Presidio Property TrustPresidio is an internally managed, diversified REIT with holdings in model home properties which are triple-net leased to homebuilders, office, industrial, and retail properties. Presidio's model homes are leased to homebuilders located primarily in Texas and Florida. Our office, industrial and retail properties are located primarily in Colorado, with properties also located in North Dakota, Texas, and Southern California. While geographical clustering of real estate enables us to reduce our operating costs through economies of scale by servicing a number of properties with less staff, it makes us susceptible to changing market conditions in these discrete geographic areas, including those that have developed as a result of COVID-19. For more information on Presidio, please visit the Company's website at https://www.PresidioPT.com.Cautionary Note Regarding Forward-Looking StatementsThis press release contains statements that are \"forward-looking statements\" within the meaning of the Private Securities Litigation Reform Act of 1995, Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended, and other federal securities laws. Forward-looking statements are statements that are not historical, including statements regarding management's intentions, beliefs, expectations, representations, plans or predictions of the future, and are typically identified by such words as \"believe,\" \"expect,\" \"anticipate,\" \"intend,...