Presidio Property Trust (SQFT) 8-K Purchase and Sale Agreement

Exhibit 99.2

NetREIT, Inc. and Subsidiaries

Consolidated Balance Sheet

	December 31,     2014			Pro Forma Adjustments     Self-Storage (a)		Pro Forma       Total
ASSETS
Real estate assets and lease intangibles:
Land		$47,681,450			$ (7,537,387)		$40,144,063
Buildings and improvements		154,098,293			(25,298,666)		128,799,627
Tenant improvements		13,164,998					13,164,998
Lease intangibles		9,793,814					9,793,814
Real estate assets and lease intangibles, cost		224,738,555			(32,836,053)		191,902,502
Accumulated depreciation and amortization		(26,540,852	)		2,863,727		(23,677,125)
Real estate assets and lease intangibles, net		198,197,703			(29,972,326)		168,225,377
Cash and cash equivalents		5,636,002			17,442,171(b)		23,078,173
Restricted cash		4,086,498			(611,884)		3,474,614
Deferred leasing and financing costs, net		3,081,223					3,081,223
Goodwill		2,423,000					2,423,000
Other assets, net		7,200,512			(409,360)		6,791,152
TOTAL ASSETS		$220,624,938			($13,551,399)		$207,073,539
LIABILITIES AND EQUITY
Liabilities:
Mortgage notes payable		$123,899,298			$ (17,354,445)		$106,544,853
Accounts payable and accrued liabilities		6,631,804					6,631,804
Dividends payable		997,175					997,175
Below-market rent, net		960,328					960,328
Mandatorily redeemable Series B Preferred Stock, $0.01 par value, $1,000 liquidating preference; shares authorized: 40,000; shares issued and outstanding at December 31, 2014 and 2013: 16,600 and none, respectively		16,600,000					16,600,000
Total liabilities		149,088,605			(17,354,445)		131,734,160
Commitments and contingencies
Equity:
Convertible Series AA preferred stock, $0.01 par value, $25 liquidating preference; shares authorized: 1,000,000; no shares issued and outstanding at December 31, 2014 and December 31, 2013, respectively		-					-
Redeemable convertible Series 6.3% preferred stock, $0.01 par value, $1,000 liquidating preference; shares authorized: 10,000; shares issued and outstanding at December 31, 2014 and 2013: none and 1,649, respectively		-					-
Common stock - Series A, $0.01 par value; shares authorized: 100,000,000; shares issued and outstanding at December 31, 2014 and 2013: 16,887,377 and 16,473,674, respectively		168,874					168,874
Additional paid-in capital		143,715,876					143,715,876
Dividends in excess of accumulated losses		(83,150,866	)		3,995,267		(79,155,599)
Total stockholders’ equity before noncontrolling interest		60,733,884			3,995,267		64,729,151
Noncontrolling interest		10,802,449			(192,221)		10,610,228
Total equity		71,536,333			3,803,046		75,339,379
TOTAL LIABILITIES AND EQUITY		$220,624,938			(13,551,399)		$207,073,539

NetREIT, Inc. and Subsidiaries

Notes to Unaudited Pro Forma Balance Sheet

As of December 31, 2014

(a) Represents adjustments to reflect the disposition of the Sparky’s Self-Storage Portfolio. The sales price was $36.5 million excluding closing costs.

(b) Represents the amount of proceeds from the Sparky’s Self-Storage Portfolio disposition after the repayment of $17.3 million of debt outstanding and prepayment penalties of $2.1 million.