Business
Presidio Property Trust Announces Leadership Promotions and Appointments
SAN DIEGO, CA / ACCESSWIRE / December 16, 2021 / Presidio Property Trust (NASDAQ:SQFT)(NASDAQ:SQFTP), an internally managed, diversified real estate
About this update from Presidio Property Trust, Inc.
[{"type":"text","content":"SAN DIEGO, CA / ACCESSWIRE / December 16, 2021 / Presidio Property Trust (NASDAQ:SQFT)(NASDAQ:SQFTP), an internally managed, diversified real estate investment trust, today announced leadership promotions and appointments that will further strengthen its existing management capabilities.\"I am proud that we have such a strong team of committed and experienced professionals, and that we are able to promote from within,\" said Jack Heilbron, President and Chief Executive Officer. \"These leadership promotions and appointments underscore our thinking around succession planning, as well as position us for continued growth.\"The following promotions and appointments were effective earlier this month:Gary Katz, who previously served as Senior Vice President, Asset Management, has been named Chief Investment Officer. Since 2010, Mr. Katz has overseen property acquisitions and dispositions, as well as all commercial asset management functions. In addition to his current responsibilities, he will also assist the Company with strategic alliances as well as other corporate-wide initiatives.Steve Hightower, who previously served as Executive Vice President, Model Home Division, has been named President, Model Home Division. Since 2010, Mr. Hightower has managed homebuilder relationships, model home acquisitions and dispositions, as well as segment financial reporting. In addition to his current responsibilities, he will also assist the Company with capital raising and other corporate development initiatives.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 http...