Real Estate Sales Are Booming; Estimated to Exceed $160 Billion in 2021 - Seite 2

Presidio Property Trust, Inc. (NASDAQ: SQFT) BREAKING NEWS:  Presidio Property Trust Reports 2020 Model Home Sales Activity - Presidio Property Trust, Inc, an internally managed, diversified real estate investment trust, announced today that, through its affiliated entities, it sold 46 model homes during 2020, and had eight homes for sale in escrow at year-end. 100% of the homes sold in 2020 resulted in a positive investment return. Home sold in 2020 were located in the states of Texas, Florida, Arizona, California, Wisconsin, and Pennsylvania. The average sales price per model home sold was approximately $400,000, and the average holding period was approximately 3 years.

"Our model home business delivered solid performance in 2020," said Jack Heilbron, President and Chief Executive Officer. "We saw positive model home returns in all geographies and averaged a sale of almost one home per week throughout the year," said Heilbron. "We collected 100% of the lease payments that we billed to our homebuilder tenants in 2020, showing the strength of the purchase / leaseback model home business, even in the time of COVID. Amortizing mortgages on these properties, coupled with a 3-year holding period, further reduces our risk."

"Companies such as Hewlett Packard, Oracle, and Tesla chose to move to more business-friendly, lower-tax environments in 2020," remarked Larry Dubose, President of Dubose Advisors, which manages and operates the purchase / leaseback model home business and is a wholly-owned subsidiary of Presidio Property Trust. "With a more reasonable cost of living and more affordable quality housing options, we are not surprised that the U.S. Census Bureau's 2020 population estimates are that Texas had the highest population growth of any state. Having the bulk of our business in Texas and Florida, we expect the larger American population trends to translate into continued strong demand for housing in our core markets."   For more information about Presidio Property Trust please visit https://presidiopt.com/  

Other recent developments in the real estate industries include:

Toll Brothers, Inc. (NYSE:TOL), the nation's leading builder of luxury homes, recently announced results for its fourth quarter ended October 31, 2020.  Douglas C. Yearley, Jr., chairman and chief executive officer, stated: "In these challenging times, our team delivered on all fronts in our fourth quarter, exceeding our expectations for sales, revenues, margins and earnings. I am tremendously proud of how we have adapted to a rapidly changing environment.