Lightstone Value Plus REIT V, Inc.: M&A transaction — Lightstone Value Plus REIT V acquires 240-unit Space Coast Apartments for $63.8M; board member resigns

Lightstone Value Plus REIT V, Inc.

Acquired Space Coast Apartments in Rockledge, FL for $63.8M; funded with $43.7M mortgage and $20.1M cash.
Mortgage is 5.60% non-recourse, five-year term, interest-only through Jan 2028, then P&I of ~$0.3M/month.
Advisor (Lightstone Group affiliate) received $1.4M in acquisition fees and expense reimbursements.
Board member Jeffrey Joseph (83) resigned effective Dec 19, 2024 for personal medical reasons; no disagreement with company.
Joseph served on the board since 2018; board accepted resignation with gratitude.

item 1.01 item 2.01 item 2.03 item 5.02 item 9.01

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 DHIC Rockledge, LLC for approximately $63.8 million (closed 2024-12-19).

Action: acquisition
Counterparty: DHIC Rockledge, LLC
Consideration: approximately $63.8 million
Closing: 2024-12-19

Exact text from the filing

On December 19, 2024, the Company, through LVP Space Coast, completed the acquisition of the Space Coast Apartments from the Seller, an unrelated third party, for approximately $63.8 million, excluding closing and other acquisition related costs.

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Source: SEC EDGAR

accession 0001829126-24-008500

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