Lightstone Value Plus Real Estate Investment Trust V, Inc. Reports Earnings Results for the Third Quarter and Nine Months Ended September 30, 2021
November 12, 2021 at 01:06 pm EST
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Lightstone Value Plus Real Estate Investment Trust V, Inc. reported earnings results for the third quarter and nine months ended September 30, 2021. For the third quarter, the company reported sales was USD 11.19 million compared to USD 10.19 million a year ago. Net loss was USD 2.1 million compared to USD 1.67 million a year ago. Basic loss per share from continuing operations was USD 0.1 compared to USD 0.08 a year ago.
For the nine months, sales was USD 30.86 million compared to USD 29.66 million a year ago. Net income was USD 25.38 million compared to USD 1.02 million a year ago. Basic earnings per share from continuing operations was USD 1.26 compared to USD 0.05 a year ago.
Lightstone Value Plus REIT V, Inc. is a real estate investment trust (REIT). The Company is formed primarily to acquire and operate commercial real estate and real estate-related assets. The Company holds interests in various commercial properties, such as office, industrial, retail, hospitality, multifamily, and student housing, and other real estate-related investments, such as mortgage loans and mezzanine loans. The Company's business is conducted through Lightstone REIT V OP LP (Operating Partnership). The Company has eight wholly owned real estate investments (multi-family apartment complexes) and one real estate-related investment (mezzanine loan). The Companyâs properties include Arbors Harbor Town, Parkside Apartments, Flats at Fishers, Axis at Westmont, Valley Ranch Apartments, Autumn Breeze Apartments, BayVue Apartments, and Citadel Apartments. The Companyâs business is externally managed by LSG Development Advisor LLC (the Advisor).