Lightstone Value Plus REIT V, Inc.: M&A transaction — Lightstone Value Plus REIT V acquires Camellia Apartments for ~$53.3M

Lightstone Value Plus REIT V, Inc.

Acquired 210-unit multifamily property in St. Augustine, FL for approx $53.3M, excluding closing costs.
Financed with $33.9M non-recourse mortgage at 6.05%, maturing Jan 1, 2030.
Remaining $19.4M funded from escrow proceeds of prior Flats at Fishers sale.
Advisor received $1.1M in acquisition, expense reimbursement, and debt financing fees.
Loan is collateralized by the Camellia Apartments.

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 V, Inc. completed an acquisition involving WCC Palma Vista, LLC for approximately $53.3 million, excluding closing and other acquisition related costs (closed 2023-12-19).

Action: acquisition
Counterparty: WCC Palma Vista, LLC
Consideration: approximately $53.3 million, excluding closing and other acquisition related costs
Closing: 2023-12-19

Exact text from the filing

On December 19, 2023, the Company, through LVP Camellia, completed the acquisition of the Camellia Apartments from the Seller, an unrelated third party, for approximately $53.3 million, excluding closing and other acquisition related costs.

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Source: SEC EDGAR

accession 0001829126-23-008138

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