Mortgage Notes Payable (Tables)

3 Months Ended

Mar. 31, 2018

Mortgage Loans On Real Estate [Abstract]

Mortgage notes payable consisted of the following:

		Principal as of
		March 31,			December 31,			Loan	Interest
Mortgage note property	Notes	2018			2017			Type	Rate (1)			Maturity
Port of San Diego Complex			9,504,218			9,575,508		Fixed		4.75	%	3/5/2020
Garden Gateway Plaza			6,398,524			6,445,300		Fixed		5.00	%	4/5/2020
West Fargo Industrial			4,346,902			4,365,449		Fixed		4.79	%	9/6/2020
Morena Office Center			2,138,281			2,156,479		Fixed		4.30	%	6/1/2021
Waterman Plaza			3,827,296			3,850,365		Fixed		4.25	%	4/29/2021
Pacific Oaks Plaza			1,453,977			1,466,351		Fixed		4.50	%	6/1/2021
The Presidio			6,000,000			2,380,703		Fixed		4.54	%	12/1/2021
Highland Court			6,661,284			6,695,541		Fixed		3.82	%	9/1/2022
Dakota Bank Buildings			10,443,530			10,492,904		Fixed		4.74	%	7/6/2024
Union Terrace Building			6,426,632			6,454,448		Fixed		4.50	%	9/5/2024
Centennial Tech Center			9,863,274			6,000,000		Fixed		4.43	%	11/5/2024
Research Parkway			1,896,934			9,908,235		Fixed		3.94	%	1/5/2025
Arapahoe Service Center			8,327,915			1,909,012		Fixed		4.34	%	1/5/2025
Union Town Center			8,440,000			8,364,088		Fixed		4.28	%	1/5/2025
Yucca Valley Retail Center	(5)		6,000,000			8,440,000		Fixed		4.30	%	4/11/2025
Executive Office Park	(2)		4,129,436			6,000,000		Fixed		5.80	%	7/1/2025
Genesis Plaza			6,500,000			4,151,161		Fixed		4.65	%	8/25/2025
One Park Centre			6,610,000			6,500,000		Fixed		4.77	%	9/5/2025
Shea Center II			17,727,500			6,610,000		Fixed		4.92	%	1/5/2026
Bismarck Office Building	(4)		4,031,799			17,727,500		Fixed		4.02	%	8/1/2037
300 N.P.			2,371,695			4,057,752		Fixed		4.95	%	6/11/2022
Subtotal, Presidio Property Trust, Inc. properties			133,099,197			133,550,796				4.71	%
Model Home mortgage notes			32,746,614			28,454,883		Fixed	(3)			2018-2020
Mortgage Notes Payable		$	165,845,811		$	162,005,679
Unamortized loan costs			(1,749,375	)		(1,682,942	)
Mortgage Notes Payable, net		$	164,096,436		$	160,322,737

(1) Interest rates as of March 31, 2018.

(2) Interest rate is subject to reset on July 1, 2018.

(3) Each Model Home has a stand-alone mortgage note at interest rates ranging from 3.8% to 5.5% per annum (at March 31, 2018).

(4) Interest rate is subject to reset on September 1, 2023 and on September 1, 2030.

(5) Property held for sale as of March 31, 2018.

The Company is in compliance with all material conditions and covenants of its mortgage notes payable.

Scheduled Principal Payments of Mortgage Notes Payable

Scheduled principal payments of mortgage notes payable were as follows as of March 31, 2018:

	Presidio Property Trust, Inc.		Model Homes		Principal
	Notes Payable		Notes Payable		Payments
Nine months remaining in 2018	$	1,482,950	$	1,865,147	$	3,348,097
Years ending December 31:
2019		2,288,924		15,020,294	$	17,309,218
2020		21,158,008		11,330,563	$	32,488,571
2021		14,492,908		4,530,610	$	19,023,518
2022		10,137,206		-	$	10,137,206
Thereafter		83,539,201		-	$	83,539,201
Total	$	133,099,197	$	32,746,614	$	165,845,811