Mortgage Notes Payable (Tables)

6 Months Ended

Jun. 30, 2016

Mortgage Loans On Real Estate [Abstract]

Mortgage notes payable consisted of the following:

		Principal as of
		June 30,			December 31,			Loan	Interest
Mortgage note property	Notes	2016			2015			Type	Rate (1)			Maturity
Havana/Parker Complex		$	-		$	2,500,000		Fixed		6.51	%	7/1/2016
Bismarck Office Building			3,215,526			3,252,016		Fixed		6.12	%	10/1/2016
Rangewood Medical Office Building			992,904			1,027,085		Fixed		4.95	%	1/1/2019
Regatta Square			1,167,064			1,183,473		Fixed		4.95	%	1/1/2019
Port of San Diego Complex			9,985,952			10,097,726		Fixed		4.75	%	3/5/2020
Garden Gateway Plaza			6,714,030			6,799,229		Fixed		5.00	%	4/5/2020
West Fargo Industrial			4,467,724			4,500,000		Fixed		4.79	%	8/4/2020
Morena Office Center	(2)		2,257,456			2,289,899		Fixed		4.50	%	1/1/2021
Waterman Plaza			3,984,214			-		Fixed		4.25	%	4/29/2021
Pacific Oaks Plaza	(4)		1,534,825			1,556,891		Fixed		4.50	%	6/1/2021
Shoreline Medical Building	(2)		3,665,188			3,727,569		Fixed		5.10	%	6/1/2022
Highland Court			6,894,361			6,958,147		Fixed		3.82	%	8/28/2022
Dakota Bank Buildings			10,764,874			10,825,201		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			10,157,066			10,237,591		Fixed		4.34	%	1/5/2025
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			6,000,000		Fixed		4.30	%	4/11/2025
Executive Office Park	(3)		4,269,782			4,307,975		Fixed		5.80	%	7/1/2025
Genesis Plaza			6,500,000			6,500,000		Fixed		4.65	%	8/25/2025
One Parke Centre			6,610,000			6,610,000		Fixed		4.77	%	9/5/2025
Shea Center II			17,727,500			17,727,500		Fixed		4.92	%	1/5/2026
Subtotal, NetREIT, Inc. properties			136,448,466			135,640,302				4.71	%
Model Home mortgage notes			12,465,756			9,050,268		Fixed	(5)			2016-2020
Mortgage Notes Payable		$	148,914,222		$	144,690,570
Unamortized loan costs			(2,062,643	)		(2,052,169	)
Mortgage Notes Payable, net		$	146,851,579		$	142,638,401

(1) Interest rates as of June 30, 2016.

(2) Interest rate subject to resetting on the 6th loan anniversary.

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

(4) Interest rate is subject to reset on April 28, 2017.

(5) Each Model Home has a standalone mortgage note at interest rates ranging from 3.8% to 5.8% per annum (at June 30, 2016).

The Company is in compliance with all 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 June 30, 2016:

	NetREIT, Inc.		Model Homes		Principal
	Notes Payable		Notes Payable		Payments
Six months remaining in 2016	$	4,037,266	$	504,693	$	4,541,959
Years ending December 31:
2017		1,887,497		1,493,704	$	3,381,201
2018		6,100,425		1,224,712	$	7,325,137
2019		3,010,927		6,797,220	$	9,808,147
2020		2,422,274		2,445,427	$	4,867,701
Thereafter		118,990,077		-	$	118,990,077
Total	$	136,448,466	$	12,465,756	$	148,914,222