---
schema_version: "secwatch.filing_event.v1"
accession: "0001829126-23-007827"
form_type: "8-K"
ticker: null
cik: "0001296884"
company_name: "Lightstone Value Plus REIT I, Inc."
filed_at: "2023-12-04T23:59:59+00:00"
generated_at: "2026-06-07T18:36:03.641277+00:00"
event_type: "debt"
sentiment: "neutral"
materiality_score: 0.65
calibrated_materiality_score: 0.65
confidence: "high"
source: SEC EDGAR
---

# Lightstone REIT I secures $136.3M mortgage loans on Lower East Side Moxy Hotel

## Summary
- Senior loan of $110M (floor 7.50% SOFR+4.00%) and junior loan of $31.3M (floor 12.25% SOFR+8.75%) entered Nov 29, 2023.
- At closing, $106.1M senior and $30.2M junior advanced; total proceeds used to repay existing mortgage on the 303-room hotel.
- Loans mature Nov 29, 2026, with two one-year extension options; interest-only payments required.
- Interest rate caps purchased: SOFR capped at 5.50% through Dec 2024 (junior) and June 2025 (senior); aggregate cost $0.1M.
- Company paid $2.6M in loan fees/expenses and provided interest and carry cost guarantees.

## SEC filing metadata
- accession: 0001829126-23-007827
- form_type: 8-K
- cik: 0001296884
- company_name: Lightstone Value Plus REIT I, Inc.
- filed_at: 2023-12-04T23:59:59+00:00
- event_type: debt
- sentiment: neutral
- materiality_score: 0.65
- calibrated_materiality_score: 0.65
- confidence: high
- sec_items: 1.01, 2.03
- EDGAR index: https://www.sec.gov/Archives/edgar/data/1296884/000182912623007827/0001829126-23-007827-index.htm
- EDGAR primary document: https://www.sec.gov/Archives/edgar/data/1296884/000182912623007827/lightstonereit1_8k.htm

## Machine-readable alternates
- HTML: https://secwatch.observer/filing/0001829126-23-007827
- JSON: https://secwatch.observer/filing/0001829126-23-007827.json
- Plain text: https://secwatch.observer/filing/0001829126-23-007827.txt

## Key facts
- Debt Financings
  Lightstone Value Plus REIT I, Inc. incurred loan of up to $31.3 million with Bowery NY Mezz LLC at SOFR plus 8.75%, subject to a 12.25% floor maturing November 29, 2026.
  - Instrument: loan
  - Principal: up to $31.3 million
  - Counterparty: Bowery NY Mezz LLC
  - Rate: SOFR plus 8.75%, subject to a 12.25% floor
  - Maturity: November 29, 2026
  - Event: incurrence
  source text: On November 29, 2023, the Company, through the same wholly owned subsidiary, also entered into a mortgage loan facility (the "Moxy Junior Loan" and together with the Moxy Senior Loan, the "Moxy Mortgage Loans") with Bowery NY Mezz LLC, an unrelated third party, providing for up to $31.3 million.
  evidence_url: https://www.sec.gov/Archives/edgar/data/1296884/000182912623007827/0001829126-23-007827-index.htm
- Debt Financings
  Lightstone Value Plus REIT I, Inc. incurred loan of up to $110.0 million with Athene Annuity And Life Company at SOFR plus 4.00%, subject to a 7.50% floor maturing November 29, 2026.
  - Instrument: loan
  - Principal: up to $110.0 million
  - Counterparty: Athene Annuity And Life Company
  - Rate: SOFR plus 4.00%, subject to a 7.50% floor
  - Maturity: November 29, 2026
  - Event: incurrence
  source text: On November 29, 2023, Lightstone Value Plus REIT I, Inc. (the “Company”) , through a wholly owned subsidiary, entered into a mortgage loan facility (the “Moxy Senior Loan”) with Athene Annuity And Life Company, an unrelated third party, providing for up to $110.0 million.
  evidence_url: https://www.sec.gov/Archives/edgar/data/1296884/000182912623007827/0001829126-23-007827-index.htm
- Material Agreements
  Lightstone Value Plus REIT I, Inc. entered into Moxy Junior Loan with Bowery NY Mezz LLC valued at up to $31.3 million (effective 2023-11-29).
  - Action: entry
  - Agreement: credit facility
  - Counterparty: Bowery NY Mezz LLC
  - Value: up to $31.3 million
  - Effective: 2023-11-29
  source text: Simultaneously on November 29, 2023, the Company, through the same wholly owned subsidiary, also entered into a mortgage loan facility (the “Moxy Junior Loan” and together with the Moxy Senior Loan, the “Moxy Mortgage Loans”) with Bowery NY Mezz LLC, an unrelated third party, providing for up to $31.3 million.
  evidence_url: https://www.sec.gov/Archives/edgar/data/1296884/000182912623007827/0001829126-23-007827-index.htm
- Material Agreements
  Lightstone Value Plus REIT I, Inc. entered into Moxy Senior Loan with Athene Annuity And Life Company valued at up to $110.0 million (effective 2023-11-29).
  - Action: entry
  - Agreement: credit facility
  - Counterparty: Athene Annuity And Life Company
  - Value: up to $110.0 million
  - Effective: 2023-11-29
  source text: On November 29, 2023, Lightstone Value Plus REIT I, Inc. (the “Company”) , through a wholly owned subsidiary, entered into a mortgage loan facility (the “Moxy Senior Loan”) with Athene Annuity And Life Company, an unrelated third party, providing for up to $110.0 million.
  evidence_url: https://www.sec.gov/Archives/edgar/data/1296884/000182912623007827/0001829126-23-007827-index.htm

This AI-assisted summary is a reading aid. Review the linked SEC EDGAR filing before relying on any specific claim.