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Mortgage Notes Payable (Tables) | 9 Months Ended
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Sep. 30, 2015
Mortgage Loans On Real Estate [Abstract] |
Mortgage Notes Payable | Mortgage notes payable consisted of the following:
|  |  |  | Principal as of |  |  |  |  |  |  |  |  |  |  |
|  |  |  | September 30, |  |  | December 31, |  |  | Loan |  | Interest |  |  |  |  |
Mortgage note property |  | Notes |  | 2015 |  |  | 2014 |  |  | Type |  | Rate (1) |  |  | Maturity |
Sparky's Palm, Joshua and Sunrise |  |  |  | $ | - |  |  | $ | 7,986,522 |  |  | Fixed |  |  | 4.70 | % | * |  | - |
Sparky's Lancaster |  |  |  |  | - |  |  |  | 1,903,982 |  |  | Fixed |  |  | 5.00 | % | * |  | - |
Sparky’s Thousand Palms |  |  |  |  | - |  |  |  | 4,092,100 |  |  | Variable |  |  | 5.50 | % | * |  | - |
Sparky's Hesperia East |  |  |  |  | - |  |  |  | 830,883 |  |  | Variable |  |  | 4.75 | % | * |  | - |
Sparky's Rialto |  |  |  |  | - |  |  |  | 2,119,037 |  |  | Fixed |  |  | 4.75 | % | * |  | - |
Havana/Parker Complex |  |  |  |  | 2,500,000 |  |  |  | 2,500,000 |  |  | Fixed |  |  | 6.51 | % |  | 7/1/16 |
Garden Gateway Plaza |  |  |  |  | 6,841,038 |  |  |  | 6,963,381 |  |  | Fixed |  |  | 5.00 | % |  | 4/5/20 |
Genesis Plaza |  |  |  |  | 6,500,000 |  |  |  | 4,491,588 |  |  | Fixed |  |  | 4.65 | % |  | 8/25/25 |
Executive Office Park |  | (2) |  |  | 4,325,816 |  |  |  | 4,379,854 |  |  | Fixed |  |  | 5.80 | % |  | 7/1/25 |
Dakota Bank Buildings |  |  |  |  | 10,866,923 |  |  |  | 10,993,386 |  |  | Fixed |  |  | 4.74 | % |  | 7/6/24 |
Yucca Valley Retail Center |  |  |  |  | 6,000,000 |  |  |  | 2,982,411 |  |  | Fixed |  |  | 4.30 | % |  | 4/11/25 |
Rangewood Medical Office Building |  |  |  |  | 1,043,705 |  |  |  | 1,092,778 |  |  | Fixed |  |  | 4.95 | % |  | 1/1/19 |
Regatta Square |  |  |  |  | 1,191,328 |  |  |  | 1,214,799 |  |  | Fixed |  |  | 4.95 | % |  | 1/1/19 |
Port of San Diego Complex |  |  |  |  | 10,180,489 |  |  |  | 10,368,228 |  |  | Fixed |  |  | 4.75 | % |  | 3/5/20 |
Morena Office Center |  | (3) |  |  | 2,305,500 |  |  |  | 2,351,805 |  |  | Fixed |  |  | 4.50 | % |  | 1/1/21 |
Pacific Oaks Plaza |  | (3) |  |  | 1,567,500 |  |  |  | 1,599,204 |  |  | Fixed |  |  | 4.50 | % |  | 6/1/21 |
Shoreline Medical Building |  | (3) |  |  | 3,757,523 |  |  |  | 3,846,697 |  |  | Fixed |  |  | 5.10 | % |  |  | - |
Waterman Plaza |  |  |  |  | - |  |  |  | 3,368,146 |  |  | Fixed |  |  | 6.50 | % |  | 9/1/15 |
The Presidio |  |  |  |  | 6,000,000 |  |  |  | 6,000,000 |  |  | Fixed |  |  | 4.54 | % |  | 12/1/21 |
Bismarck Office Building |  |  |  |  | 3,269,294 |  |  |  | 3,321,198 |  |  | Fixed |  |  | 4.50 | % |  | 10/1/16 |
Union Terrace Building |  |  |  |  | 6,600,000 |  |  |  | 6,600,000 |  |  | Fixed |  |  | 4.34 | % |  | 12/5/24 |
Centennial Tech Center |  |  |  |  | 10,250,000 |  |  |  | 10,250,000 |  |  | Fixed |  |  | 4.34 | % |  | 1/5/25 |
Arapahoe Service Center |  |  |  |  | 8,500,000 |  |  |  | 8,500,000 |  |  | Fixed |  |  | 4.28 | % |  | 1/5/25 |
Highland Court |  |  |  |  | 6,989,587 |  |  |  | - |  |  | Fixed |  |  | 3.82 | % |  | 8/28/22 |
West Fargo Industrial |  |  |  |  | 4,500,000 |  |  |  | - |  |  | Fixed |  |  | 4.79 | % |  | 8/4/20 |
Westminster |  |  |  |  | 6,610,000 |  |  |  | - |  |  | Fixed |  |  | 4.77 | % |  | 7/31/25 |
Union Town Center |  |  |  |  | 8,440,000 |  |  |  | 8,440,000 |  |  | Fixed |  |  | 4.28 | % |  | 1/5/25 |
Subtotal, NetREIT, Inc. properties |  |  |  |  | 118,238,703 |  |  |  | 116,195,999 |  |  |  |  |  |  |  |  |  |  |
Model Home mortgage notes |  | (4) |  |  | 9,969,515 |  |  |  | 7,703,299 |  |  | Fixed |  |  |  |  |  | 2015-19 |
Mortgage Notes Payable, total |  |  |  | $ | 128,208,218 |  |  | $ | 123,899,298 |  |  |  |  |  |  |  |  |  |  |
(1) | Interest rates as of September 30, 2015
(2) | Interest rate is subject to reset on July 1, 2018.
(3) | Interest rate subject to resetting on the 6th loan anniversary.
(4) | Each Model Home has a standalone mortgage note at interest rates ranging from 4.9% to 5.8% per annum (at September 30, 2015).
* | Mortgage notes payable, aggregating $16,932,524 were paid off in connection with the sale of the self-storage facilities on April 10, 2015. Refer to Note 6.
Scheduled Principal Payments of Mortgage Notes Payable | Scheduled principal payments of mortgage notes payable were as follows as of September 30, 2015:
|  | NetREIT, Inc. |  |  | Model Homes |  |  | Principal |
|  | Notes Payable |  |  | Notes Payable |  |  | Payments |
Three months remaining in 2015 |  | $ | 311,539 |  |  | $ | 133,770 |  |  | $ | 445,309 |
Years ending December 31: |  |  |  |  |  |  |  |  |  |  |  |
2016 |  |  | 7,243,888 |  |  |  | 970,755 |  |  | $ | 8,214,643 |
2017 |  |  | 1,767,576 |  |  |  | 1,524,063 |  |  | $ | 3,291,639 |
2018 |  |  | 5,972,923 |  |  |  | 1,760,339 |  |  | $ | 7,733,262 |
2019 |  |  | 2,988,041 |  |  |  | 1,738,478 |  |  | $ | 4,726,519 |
Thereafter |  |  | 99,954,736 |  |  |  | 3,842,110 |  |  | $ | 103,796,846 |
Total |  | $ | 118,238,703 |  |  | $ | 9,969,515 |  |  | $ | 128,208,218 |

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- Definition Tabular disclosure of the aggregate amount of payments due on known contractual obligations for the five years following the date of the latest balance sheet and the combined aggregate amount of maturities of known contractual obligations. + References Reference 1: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 470 -SubTopic 10 -Section 50 -Paragraph 1 -URI http://asc.fasb.org/extlink&oid=6802200&loc=d3e1835-112601 Reference 2: http://www.xbrl.org/2003/role/presentationRef -Publisher SEC -Name Regulation S-K (SK) -Number 229 -Section 303 -Paragraph a -Subparagraph 5 + Details
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- Definition Tabular disclosure of information pertaining to short-term and long-debt instruments or arrangements, including but not limited to identification of terms, features, collateral requirements and other information necessary to a fair presentation. + References No definition available. + Details
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