Presidio Property Trust, a diversified REIT repositioning its portfolio to focus on office and industrial properties, announced terms for its IPO on Thursday. The company originally filed in September 2017.
The San Deigo, CA-based company plans to raise $8 million by offering 1.3 million shares at a price range of $5 to $7. At the midpoint of the proposed range, Presidio Property Trust would command a market value of $61 million.
Presidio Property Trust was founded in 1999 and booked $28 million in revenue for the 12 months ended March 31, 2020. It plans to list on the Nasdaq under the symbol SQFT. Aegis Capital Corp. is the sole bookrunner on the deal.
