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

Browse all debt financings →

Lightstone Value Plus REIT IV, Inc. filing history →

Source: SEC EDGAR

accession 0001829126-24-002791

view filing index on sec.gov

view primary document

Machine-readable: JSON · Markdown · Plain text

This headline and bullets were generated automatically by deepseek-v4-flash:cloud@v2 from the public filing. Read the source on SEC.gov before relying on any specific claim. Not investment advice. See methodology for how this pipeline works.