secwatch.observer — SEC 8-K summary
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Issuer:     Lightstone Value Plus REIT I, Inc. (—)
CIK:        0001296884
Form:       8-K
Filed at:   2023-12-04T23:59:59+00:00
Accession:  0001829126-23-007827
Event type: debt
Sentiment:  neutral
Materiality: 0.65
Item codes: 1.01, 2.03
LLM model:  deepseek-v4-flash:cloud@v2

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

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/1296884/000182912623007827/0001829126-23-007827-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/1296884/000182912623007827/lightstonereit1_8k.htm
  HTML page:      https://secwatch.observer/filing/0001829126-23-007827

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