Presidential Realty Corp. (PDNLB)

[db7]

8k, part 1 closed (Avalon) and regarding step 2:

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Future Closing



The Agreement contemplates that on or before March 16, 2017 (i) FC OP will contribute to the Presidential OP 66% of its 92% ownership interests in Township Nine Owner LLC, which indirectly owns the fee simple interest in 23 parcels of land located in Sacramento, California (collectively, the “T9 Properties”), and (ii) the Company and Presidential OP will assume 66% of the liabilities with respect to an existing loan secured by a deed of trust on the T9 Properties, among other things (and/or any replacement financing thereof). The closing of the transaction involving the T9 Properties is subject to certain closing conditions and contingencies


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