Lightstone Value Plus Real Estate Investment Trust Iii, Inc. Reports Earnings Results for the Second Quarter Ended June 30, 2019
August 14, 2019 at 03:50 pm EDT
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Lightstone Value Plus Real Estate Investment Trust III, Inc. announced earnings results for the second quarter ended June 30, 2019. For the second quarter, the company announced operating income was USD 851,303 compared to USD 1.470 million a year ago. Net loss was USD 1.212 million compared to net income of USD 192,043 a year ago. Basic loss per share from continuing operations was USD 0.09 compared to basic earnings per share from continuing operations of USD 0.01 a year ago. For the half year, operating income was USD 557,004 compared to USD 1.626 million a year ago. Net loss was USD 3.755 million compared to USD 1.832 million a year ago. Basic loss per share from continuing operations was USD 0.28 compared to USD 0.13 a year ago.
Lightstone Value Plus REIT III, Inc. is a real estate investment trust (REIT). The Company conducts its business through Lightstone Value Plus REIT III LP, a Delaware limited partnership (the Operating Partnership). Through the Operating Partnership, the Company owns, operates, and develops commercial properties and makes real estate-related investments. It has primarily acquired, developed, and operated commercial hospitality properties, principally consisting of limited-service hotels and one full-service hotel, all located in the U.S. Its primary objective is to achieve capital appreciation with a secondary objective of income without subjecting the principal to undue risk. The Company may invest up to 20% of its net assets in collateralized debt obligations, commercial mortgage-backed securities (CMBS) and mortgage and mezzanine loans secured, directly or indirectly, by the same types of properties which it may acquire directly. Its advisor is Lightstone Value Plus REIT III LLC.
LIGHTSTONE VALUE PLUS REIT III, INC. 
