Presidio Property Trust, Inc. 8-K

What Happened

• Presidio Property Trust, Inc. and its subsidiary NetREIT SC II, LLC received a Default Notice from Wells Fargo on January 21, 2026 alleging failure to repay a promissory note by January 5, 2026. The Note was originally issued December 24, 2015 to The Bancorp Bank with an original principal of $17,727,500.
• The lender alleges an event of default under the loan documents, which would cause unpaid amounts to bear default interest equal to the lesser of (i) the maximum legal rate or (ii) 5% above the original interest rate of 4.92% per annum. The notice also states the lender may foreclose (in whole or part) on pledged real and personal property known as “Shea Center II” in Douglas County, Colorado, and has revoked the borrower’s license to collect rents from the property. The Company is exploring options to cure the alleged default.

Key Details

• Loan original principal: $17,727,500 (promissory note dated 12/24/2015).
• Default notice received: January 21, 2026; alleged missed repayment date: January 5, 2026.
• Potential default interest: up to 5% above the original 4.92% rate (subject to legal caps).
• Lender: Wells Fargo Bank, N.A.; collateral: Shea Center II property in Douglas County, CO; license to collect rents revoked.

Why It Matters

• A lender-declared default can increase interest costs immediately, raise the borrower’s cash needs to cure the default, and give the lender remedies including foreclosure of the pledged property.
• Revocation of the license to collect rents could affect cash flow from the Shea Center II asset while the issue is unresolved.
• The company is evaluating its options; investors should watch for updates on any cure, loan reinstatement, foreclosure actions, or additional material disclosures.