XML 29 R6.htm IDEA: XBRL DOCUMENT v2.4.1.9
Consolidated Statements of Cash Flows (USD $)
 3 Months Ended
Mar. 31, 2015
Mar. 31, 2014
Cash flows from operating activities:    
Net income (loss) $ (1,829,525)us-gaap_ProfitLoss $ 118,093us-gaap_ProfitLoss
Adjustments to reconcile net loss to net cash provided by operating activities:    
Depreciation and amortization from continueing operations 1,861,546netr_DepreciationAmortizationAndAmortizationOfAboveMarketRents 1,178,487netr_DepreciationAmortizationAndAmortizationOfAboveMarketRents
Depreciation and amortization from discontinued operations 165,646us-gaap_DepreciationAndAmortizationDiscontinuedOperations 167,269us-gaap_DepreciationAndAmortizationDiscontinuedOperations
Stock compensation 125,080us-gaap_RestrictedStockExpense 184,447us-gaap_RestrictedStockExpense
Bad debt expense 0us-gaap_ValuationAllowancesAndReservesDeductions 44,981us-gaap_ValuationAllowancesAndReservesDeductions
Gain on sales of real estate and partnerships, net (78,496)us-gaap_GainLossOnSaleOfBusiness (727,776)us-gaap_GainLossOnSaleOfBusiness
Amortization expense of financing costs 308,159us-gaap_AmortizationOfFinancingCosts 84,050us-gaap_AmortizationOfFinancingCosts
Amortization of above market leases 59,069netr_AmortizationOfAboveMarketLeases 46,076netr_AmortizationOfAboveMarketLeases
Amortization of below market rent (26,048)us-gaap_AmortizationOfBelowMarketLease (7,012)us-gaap_AmortizationOfBelowMarketLease
Changes in operating assets and liabilities:    
Other assets (372,043)us-gaap_IncreaseDecreaseInOtherOperatingAssets (183,696)us-gaap_IncreaseDecreaseInOtherOperatingAssets
Accounts payable and accrued liabilities 200,047us-gaap_IncreaseDecreaseInAccountsPayableAndAccruedLiabilities (1,072,870)us-gaap_IncreaseDecreaseInAccountsPayableAndAccruedLiabilities
Net cash provided by operating activities 413,435us-gaap_NetCashProvidedByUsedInOperatingActivities (167,951)us-gaap_NetCashProvidedByUsedInOperatingActivities
Cash flows from investing activities:    
Real estate acquisitions (3,756,740)us-gaap_PaymentsToAcquireRealEstate [1] (1,781,300)us-gaap_PaymentsToAcquireRealEstate [1]
Building and tenant improvements (1,166,437)us-gaap_PaymentsForTenantImprovements [1] (906,493)us-gaap_PaymentsForTenantImprovements [1]
Deferred leasing costs (135,674)us-gaap_PaymentsForLeasingCosts (190,436)us-gaap_PaymentsForLeasingCosts
Proceeds received sale of real estate assets 614,814us-gaap_ProceedsFromSaleOfProductiveAssets 2,570,553us-gaap_ProceedsFromSaleOfProductiveAssets
Increase (Decrease) in Restricted Cash (1,026,656)us-gaap_IncreaseDecreaseInRestrictedCash (6,710)us-gaap_IncreaseDecreaseInRestrictedCash
Net cash used in investing activities (5,470,693)us-gaap_NetCashProvidedByUsedInInvestingActivities (314,386)us-gaap_NetCashProvidedByUsedInInvestingActivities
Cash flows from financing activities:    
Proceeds from mortgage notes payable, net of issuance costs 8,104,031us-gaap_ProceedsFromNotesPayable 1,055,700us-gaap_ProceedsFromNotesPayable
Repayment of mortgage notes payable (3,774,416)us-gaap_RepaymentsOfNotesPayable (1,708,638)us-gaap_RepaymentsOfNotesPayable
Proceeds from Issuance of Common Stock 49,999us-gaap_ProceedsFromIssuanceOfCommonStock 0us-gaap_ProceedsFromIssuanceOfCommonStock
Repurchase of common stock 662,192us-gaap_PaymentsForRepurchaseOfCommonStock (420,544)us-gaap_PaymentsForRepurchaseOfCommonStock
Contributions received from noncontrolling interests net of distributions paid (147,774)us-gaap_ProceedsFromPaymentsToMinorityShareholders (165,018)us-gaap_ProceedsFromPaymentsToMinorityShareholders
Dividends paid (997,176)us-gaap_PaymentsOfDividendsCommonStock (1,252,544)us-gaap_PaymentsOfDividendsCommonStock
Net cash (used in) provided by financing activities 3,896,856us-gaap_NetCashProvidedByUsedInFinancingActivities (2,491,044)us-gaap_NetCashProvidedByUsedInFinancingActivities
Net (decrease) increase in cash and cash equivalents (1,160,402)us-gaap_CashAndCashEquivalentsPeriodIncreaseDecrease (2,973,381)us-gaap_CashAndCashEquivalentsPeriodIncreaseDecrease
Cash and cash equivalents:    
Beginning of year 5,636,002us-gaap_CashAndCashEquivalentsAtCarryingValue 10,207,001us-gaap_CashAndCashEquivalentsAtCarryingValue
Ending of year 4,475,600us-gaap_CashAndCashEquivalentsAtCarryingValue 7,233,620us-gaap_CashAndCashEquivalentsAtCarryingValue
Supplemental disclosure of cash flow information:    
Interest Paid, Mortgage Notes 1,610,764netr_InterestPaidMortgageNotes 1,172,542netr_InterestPaidMortgageNotes
Interest Paid, Preferred Stock Series B 551,723netr_InterestPaidPreferredStockSeriesB 0netr_InterestPaidPreferredStockSeriesB
Non-cash financing activities:    
Reinvestment of cash dividend 697,788us-gaap_StockIssued1 975,909us-gaap_StockIssued1
Accrual of dividends payable 1,006,534netr_AccrualOfDividendsPayable 1,269,148netr_AccrualOfDividendsPayable
Conversion of partnership interests into common stock $ 0us-gaap_PartnersCapitalAccountExchangesAndConversions $ 165,018us-gaap_PartnersCapitalAccountExchangesAndConversions
[1]
Total consolidated capital expenditures are equal to the same amounts disclosed for total reportable segments.