Presidio Property Trust Announces Acceptance of Cryptocurrency for Tenant Payments
Presidio Property Trust (NASDAQ:SQFT, SQFTP) recently announced its acceptance of cryptocurrency for tenant rental and common area maintenance charges. This initiative enables tenants to pay using Bitcoin, Ethereum, Dogecoin, and Litecoin. President and CEO Jack Heilbron expressed the belief that this will be attractive to current and prospective tenants, especially in expansion markets. The company aims to position itself as a forward-thinking landlord. Presidio manages diverse commercial real estate primarily in Texas, Florida, and Colorado.
- Acceptance of cryptocurrency may attract new tenants, enhancing market competitiveness.
- The introduction of diverse payment options can improve tenant satisfaction.
- Dependence on specific geographic markets leaves the company vulnerable to regional economic fluctuations.
- Cryptocurrency acceptance may involve regulatory and financial risks.
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 Trust
Presidio 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 Statements
This 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," "estimate," "may," "will," "should" and "could." Because such statements include risks, uncertainties and contingencies, actual results may differ materially from those expressed or implied by such forward-looking statements. These forward-looking statements are based upon the Company's present expectations, but these statements are not guaranteed to occur. Furthermore, the Company disclaims any obligation to publicly update or revise any forward-looking statement to reflect changes in underlying assumptions or factors, of new information, data or methods, future events or other changes. Investors should not place undue reliance upon forward-looking statements. For further discussion of the factors that could affect outcomes, please refer to the "Risk Factors" section of the Company's Annual Report on Form 10-K filed with the SEC on March 30, 2021 and in the Company's other documents filed with the SEC, copies of which are available on the SEC's website, www.sec.gov.
Investor Relations Contacts:
Presidio Property Trust, Inc.
Lowell Hartkorn, Investor Relations
LHartkorn@presidiopt.com
Telephone: (760) 471-8536 x1244
SOURCE: Presidio Property Trust, Inc.
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https://www.accesswire.com/676358/Presidio-Property-Trust-Announces-Acceptance-of-Cryptocurrency-for-Tenant-Payments
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