Attached files
| file | filename |
|---|---|
| 8-K - 8-K - Presidio Property Trust, Inc. | d909103d8k.htm |
| EX-99.2 - EX-99.2 - Presidio Property Trust, Inc. | d909103dex992.htm |
| EX-99.1 - EX-99.1 - Presidio Property Trust, Inc. | d909103dex991.htm |
Exhibit 99.3
NetREIT, Inc. and Subsidiaries
Unaudited Pro Forma Statement of Operations
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| Year ended December 31, 2014 |
Pro Forma Adjustments (a) |
Pro Forma Total | ||||||||||
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| Revenues: |
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| Rental income |
$ | 19,458,581 | $ | (3,080,386) | $ | 16,378,195 | ||||||
| Fee and other income |
443,829 | (348,117) | 95,712 | |||||||||
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| Total revenues |
19,902,410 | (3,428,503) | 16,473,907 | |||||||||
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| Costs and expenses: |
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| Rental operating costs |
7,465,658 | (1,716,379) | 5,749,279 | |||||||||
| General and administrative |
5,555,449 | - | 5,555,449 | |||||||||
| Depreciation and amortization |
6,049,385 | (666,119) | 5,383,266 | |||||||||
| Real estate asset impairments |
950,000 | - | 950,000 | |||||||||
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| Total costs and expenses |
20,020,492 | (2,382,498) | 17,637,994 | |||||||||
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| (Loss) income from operations |
(118,082) | (1,046,005) | (1,164,087) | |||||||||
| Other income (expense): |
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| Interest expense |
(6,478,976) | (883,646) | (5,595,330) | |||||||||
| Interest income |
85,806 | 85,806 | ||||||||||
| Gain on sales of real estate and partnerships, net |
5,120,699 | (156,651) | 5,277,350 | |||||||||
| Gain on extinguishment of debt |
536,952 | 536,952 | ||||||||||
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| Total other expense, net |
(735,519) | (1,040,297) | 304,778 | |||||||||
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| Net loss |
(853,601) | 5,707 | (859,309) | |||||||||
| Less: Income attributable to noncontrolling interests |
(3,192,082) | (192,221) | (2,999,861) | |||||||||
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| Net loss attributable to common shareholders |
$ | (4,045,683) | $ | (186,514) | $ | (3,859,170) | ||||||
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| Basic and diluted net loss per common share |
$ | (0.24) | $ | (0.24) | ||||||||
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| Weighted average common shares outstanding - basic and diluted |
16,798,232 | 16,798,232 | ||||||||||
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NetREIT, Inc. and Subsidiaries
Notes to Unaudited Pro Forma Statement of Operations
For the Twelve Months Ended December 31, 2014
| (a) | Amounts represent the historical operations of the Sparky’s Self-Storage Portfolio as reflected in the statement of operations of NetREIT Inc. and Subsidiaries for the year-ended December 31, 2014. |