Lightstone Value Plus REIT IV, Inc. (LTSV): debt financing — Lightstone REIT IV subsidiary closes $95M mortgage loans on Brooklyn Moxy hotel, repays $85.8M existing debt

Lightstone Value Plus REIT IV, Inc.

75%-owned subsidiary, Williamsburg Moxy Joint Venture, entered $86M senior loan with Western Alliance Bank and $9M junior loan with G4.
Loans bear interest at SOFR plus 5.10% with an 8.75% floor; initial maturity April 19, 2027, with two 6-month extension options.
Proceeds of $85.8M used to repay existing mortgage on the 216-room Marriott Moxy hotel in Williamsburg, Brooklyn.
$3.2M of proceeds placed into reserves for interest, taxes, and insurance; $2.8M paid in loan fees and expenses.
Loan requires monthly interest-only payments; junior loan subordinate to senior loan; the registrant holds 75% of joint venture.

Key facts

Extracted from this filing and checked against the source text.

Debt Financings SEC 8-K Item 2.03/2.04 confidence 0.9

Lightstone Value Plus REIT IV, Inc. incurred loan of $86.0 million senior mortgage loan facility with Western Alliance Bank and G4 18263, LLC at SOFR plus 5.10%, subject to a 8.75% floor maturing April 19, 2027.

Instrument: loan
Principal: $86.0 million senior mortgage loan facility
Counterparty: Western Alliance Bank and G4 18263, LLC
Rate: SOFR plus 5.10%, subject to a 8.75% floor
Maturity: April 19, 2027
Event: incurrence

Exact text from the filing

a 75% majority owned subsidiary (the “Williamsburg Moxy Joint Venture”) of Lightstone Value Plus REIT IV, Inc. entered into an $86.0 million senior mortgage loan facility (the “Moxy Senior Loan”) with Western Alliance Bank and G4 18263, LLC (“G4”), both unrelated third parties

View on SEC.gov

Debt Financings SEC 8-K Item 2.03/2.04 confidence 0.9

Lightstone Value Plus REIT IV, Inc. incurred loan of $9.0 million junior mortgage loan facility with G4 18263, LLC at SOFR plus 5.10%, subject to a 8.75% floor maturing April 19, 2027.

Instrument: loan
Principal: $9.0 million junior mortgage loan facility
Counterparty: G4 18263, LLC
Rate: SOFR plus 5.10%, subject to a 8.75% floor
Maturity: April 19, 2027
Event: incurrence

Exact text from the filing

a $9.0 million junior mortgage loan facility (the “Moxy Junior Loan” and together with the Moxy Senior Loan, the “Moxy Mortgage Loans”) with G4

View on SEC.gov

Material Agreements SEC 8-K Item 1.01/1.02 confidence 0.9

Lightstone Value Plus REIT IV, Inc. entered into Moxy Junior Loan with G4 18263, LLC valued at $9.0 million (effective 2024-04-19).

Action: entry
Agreement: credit facility
Counterparty: G4 18263, LLC
Value: $9.0 million
Effective: 2024-04-19

Exact text from the filing

and a $9.0 million junior mortgage loan facility (the “Moxy Junior Loan” and together with the Moxy Senior Loan, the “Moxy Mortgage Loans”) with G4

View on SEC.gov

Material Agreements SEC 8-K Item 1.01/1.02 confidence 0.9

Lightstone Value Plus REIT IV, Inc. entered into Moxy Senior Loan with Western Alliance Bank and G4 18263, LLC valued at $86.0 million (effective 2024-04-19).

Action: entry
Agreement: credit facility
Counterparty: Western Alliance Bank and G4 18263, LLC
Value: $86.0 million
Effective: 2024-04-19

Exact text from the filing

On April 19, 2024, a 75% majority owned subsidiary (the “Williamsburg Moxy Joint Venture”) of Lightstone Value Plus REIT IV, Inc. entered into an $86.0 million senior mortgage loan facility (the “Moxy Senior Loan”) with Western Alliance Bank and G4 18263, LLC (“G4”), both unrelated third parties

View on SEC.gov

316 debt financings filed in the last 30 days. Browse all debt financings →

Lightstone Value Plus REIT IV, Inc. filing history →

Source: SEC EDGAR

accession 0001829126-24-002791

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