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Mortgage Notes Payable (Tables) | 12 Months Ended
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Dec. 31, 2015
Mortgage Loans On Real Estate [Abstract] |
Mortgage Notes Payable | Mortgage notes payable consisted of the following:
|  |  |  | Principal as of December 31, |  |  | Loan |  | Interest |  |  |
Mortgage note property |  | Notes |  | 2015 |  |  | 2014 |  |  | Type |  | Rate (1) |  |  | Maturity
Waterman Plaza |  |  |  | $ | — |  |  | $ | 3,368,146 |  |  | Fixed |  |  | 6.50 | % |  | 9/1/2015
Havana/Parker Complex |  |  |  |  | 2,500,000 |  |  |  | 2,500,000 |  |  | Fixed |  |  | 6.51 | % |  | 7/1/2016
Bismarck Office Building |  |  |  |  | 3,252,016 |  |  |  | 3,321,198 |  |  | Fixed |  |  | 6.12 | % |  | 10/1/2016
Sparky's Rialto |  | (2) |  |  | — |  |  |  | 2,119,037 |  |  | Fixed (reset) |  |  | 4.75 | % |  | 5/3/2018
Rangewood Medical Office Building |  |  |  |  | 1,027,085 |  |  |  | 1,092,778 |  |  | Fixed |  |  | 4.95 | % |  | 1/1/2019
Regatta Square |  |  |  |  | 1,183,473 |  |  |  | 1,214,799 |  |  | Fixed |  |  | 4.95 | % |  | 1/1/2019
Port of San Diego Complex |  |  |  |  | 10,097,726 |  |  |  | 10,368,228 |  |  | Fixed |  |  | 4.75 | % |  | 3/5/2020
Garden Gateway Plaza |  |  |  |  | 6,799,229 |  |  |  | 6,963,381 |  |  | Fixed |  |  | 5.00 | % |  | 4/5/2020
Sparky's Lancaster |  |  |  |  | — |  |  |  | 1,903,982 |  |  | Fixed |  |  | 5.00 | % |  | 6/1/2020
West Fargo Industrial |  |  |  |  | 4,500,000 |  |  |  | — |  |  | Fixed |  |  | 4.79 | % |  | 9/9/2020
Morena Office Center |  | (3) |  |  | 2,289,899 |  |  |  | 2,351,805 |  |  | Fixed (reset) |  |  | 4.50 | % |  | 1/1/2021
Pacific Oaks Plaza |  | (3) |  |  | 1,556,891 |  |  |  | 1,599,204 |  |  | Fixed (reset) |  |  | 4.50 | % |  | 6/1/2021
Shoreline Medical Building |  | (3) |  |  | 3,727,569 |  |  |  | 3,846,697 |  |  | Fixed (reset) |  |  | 5.10 | % |  | 6/1/2022
Highland Court |  |  |  |  | 6,958,147 |  |  |  | — |  |  | Fixed |  |  | 3.82 | % |  | 9/1/2022
Sparky's Palm, Joshua and Sunrise |  |  |  |  | — |  |  |  | 7,986,522 |  |  | Fixed |  |  | 4.70 | % |  | 12/6/2022
Sparky's Hesperia East |  | (4) |  |  | — |  |  |  | 830,883 |  |  | Variable |  |  | 4.75 | % |  | 12/18/2022
Dakota Bank Buildings |  |  |  |  | 10,825,201 |  |  |  | 10,993,386 |  |  | Fixed |  |  | 4.74 | % |  | 7/6/2024
Union Terrace Building |  |  |  |  | 6,600,000 |  |  |  | 6,600,000 |  |  | Fixed |  |  | 4.50 | % |  | 9/5/2024
The Presidio |  |  |  |  | 6,000,000 |  |  |  | 6,000,000 |  |  | Fixed |  |  | 4.54 | % |  | 12/1/2024
Centennial Tech Center |  |  |  |  | 10,237,591 |  |  |  | 10,250,000 |  |  | Fixed |  |  | 4.34 | % |  | 12/5/2024
Arapahoe Service Center |  |  |  |  | 8,500,000 |  |  |  | 8,500,000 |  |  | Fixed |  |  | 4.34 | % |  | 1/5/2025
Union Town Center |  |  |  |  | 8,440,000 |  |  |  | 8,440,000 |  |  | Fixed |  |  | 4.28 | % |  | 1/5/2025
Yucca Valley Retail Center |  |  |  |  | 6,000,000 |  |  |  | 2,982,411 |  |  | Fixed |  |  | 5.62 | % |  | 4/6/2025
Executive Office Park |  | (5) |  |  | 4,307,975 |  |  |  | 4,379,854 |  |  | Fixed (reset) |  |  | 5.80 | % |  | 7/1/2025
Genesis Plaza |  |  |  |  | 6,500,000 |  |  |  | 4,491,588 |  |  | Fixed |  |  | 4.65 | % |  | 9/6/2025
One Park Centre |  |  |  |  | 6,610,000 |  |  |  | — |  |  | Fixed |  |  | 4.77 | % |  | 9/5/2025
Shea Center II |  |  |  |  | 17,727,500 |  |  |  | — |  |  | Fixed |  |  | 4.92 | % |  | 1/5/2026
Sparky’s Thousand Palms |  | (6) |  |  | — |  |  |  | 4,092,100 |  |  | Variable |  |  | 5.50 | % |  | 3/1/2034
Subtotal, NetREIT, Inc. properties |  |  |  |  | 135,640,302 |  |  |  | 116,195,999 |  |  |  |  |  |  |  |  |
Model Home mortgage notes |  |  |  |  | 9,050,268 |  |  |  | 7,703,299 |  |  | Fixed |  |  | (7 | ) |  | 2015-2019
Mortgage Notes Payable, total |  |  |  | $ | 144,690,570 |  |  | $ | 123,899,298 |  |  |  |  |  |  |  |  |
(1) | Interest rates as of December 31, 2015
(2) | Interest subject to reset; thereafter, monthly payments of $11,982, including interest at rate indexed to 5-year Treasury Rate + 3%.
(3) | Interest rate subject to resetting on the 3r d and 6 th loan anniversary.
(4) | Interest at a variable rate indexed to the 5 year interest rate swap.
(5) | Interest rate is subject to reset on July 1, 2018.
(6) | Interest at variable rate ranging from 5.50%-10.50%.
(7) | Each Model Home has a standalone mortgage note at interest rates ranging from 4.9% to 5.8% (at December 31, 2015).
Scheduled Principal Payments of Mortgage Notes Payable | Scheduled principal payments of mortgage notes payable are as follows:
|  | Principal Payments |  |  | Scheduled |
Years Ending December 31: |  | NetREIT, Inc. Notes Payable |  |  | Model Homes Notes Payable |  |  | Principal Payments |
2016 |  |  | 7,245,568 |  |  |  | 901,272 |  |  |  | 8,146,840 |
2017 |  |  | 1,767,577 |  |  |  | 1,557,176 |  |  |  | 3,324,753 |
2018 |  |  | 5,973,359 |  |  |  | 1,581,239 |  |  |  | 7,554,598 |
2019 |  |  | 2,984,389 |  |  |  | 1,442,319 |  |  |  | 4,426,708 |
2020 |  |  | 2,276,109 |  |  |  | 3,568,262 |  |  |  | 5,844,371 |
Thereafter |  |  | 115,393,300 |  |  |  | - |  |  |  | 115,393,300 |
Total |  | $ | 135,640,302 |  |  | $ | 9,050,268 |  |  | $ | 144,690,570 |

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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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