Lightstone Value Plus REIT II, Inc.: M&A transaction — Lightstone REIT II sells two Florida hotels for $28M, pays down credit facility

Lightstone Value Plus REIT II, Inc.

Sold Hampton Inn - Miami and Hampton Inn & Suites - Fort Lauderdale for $28.0 million aggregate.
Closings occurred on July 17 and July 21, 2023 for the two hotels.
Used $16.7 million of proceeds to reduce revolving credit facility balance to $101.5 million.
Net proceeds after debt paydown and adjustments were $10.3 million.
Buyer was unaffiliated third party Vista Acquisitions Inc.

Key facts

Extracted from this filing and checked against the source text.

M&A Transactions SEC 8-K Item 2.01/5.01 confidence 0.9

Lightstone Value Plus REIT II, Inc. completed a disposition involving Vista Acquisitions Inc. for $28.0 million (closed 2023-07-21).

Action: disposition
Counterparty: Vista Acquisitions Inc.
Consideration: $28.0 million
Closing: 2023-07-21

Exact text from the filing

On July 21, 2023 and July 17, 2023, the Sellers completed the sale of the Hampton Inn & Suites - Miami and the Hampton Inn & Suites – Fort Lauderdale, respectively, to the Buyer for $28.0 million pursuant to the terms of the Florida Hotel Portfolio Agreement.

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Source: SEC EDGAR

accession 0001829126-23-004904

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