secwatch.observer — SEC 8-K summary
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Issuer:     Lightstone Value Plus REIT IV, Inc. (LTSV)
CIK:        0001619312
Form:       8-K
Filed at:   2024-04-26T23:59:59+00:00
Accession:  0001829126-24-002791
Event type: debt
Sentiment:  neutral
Materiality: 0.50
Item codes: 1.01, 2.03
LLM model:  deepseek-v4-flash:cloud@v2

Lightstone REIT IV subsidiary closes $95M mortgage loans on Brooklyn Moxy hotel, repays $85.8M existing debt
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- 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.

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/1619312/000182912624002791/0001829126-24-002791-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/1619312/000182912624002791/lightstonereit4_8k.htm
  HTML page:      https://secwatch.observer/filing/0001829126-24-002791

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